07 April, 02:55
Texas bill proposes state-issued gold-backed digital currency - Insider Paper
Lawmakers in the United States are proposing bills that oppose the development of a central bank digital currency (CBDC) based on the U.S.
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07 April, 04:13
In response Vincent Kennedy⍟ to his Publication
Nana. understands from Juan O Savin that constitutional money is Gold and Silver coins, and I understand XRP and XLM replacing the Swift System for moving money.
Asset backed or not there has to be a digital way to move money around, I get that too.
Maybe school Nana on how a the actual asset can be digitally tied to the digital currency in a way that our digital currency can't be taken away or turned off?
With gold and silver coinage it is a physical thing you can hold in your hand, but for large amounts that is not physically possible either so what banking or other mechanism to assure you have access to your coinage?
Remember please Asset Backed Currency 101 for Dummies.
Assume I Know nothing.
Ppl need some schooling and hence forth some direction and calming on this about now please and thank you.
We have newbies all the time.
Asset backed or not there has to be a digital way to move money around, I get that too.
Maybe school Nana on how a the actual asset can be digitally tied to the digital currency in a way that our digital currency can't be taken away or turned off?
With gold and silver coinage it is a physical thing you can hold in your hand, but for large amounts that is not physically possible either so what banking or other mechanism to assure you have access to your coinage?
Remember please Asset Backed Currency 101 for Dummies.
Assume I Know nothing.
Ppl need some schooling and hence forth some direction and calming on this about now please and thank you.
We have newbies all the time.
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FedNow or govt CBDCs I would never trust or use them. Self custody is how crypto is kept on a digital wallet and you have "the keys" codes, passwords, fingerprint to use it, no one else can.
As for commodities as a digital coin or token. When our currency was gold backed, the dollar was matched to it. If you traveled across America in early days and you didn't want to risk your gold or silver, you'd put it in a bank, the bank gives you a "note" and you turn in that note for your gold in the town you're going to...crypto will basically work like that...plus ones like XRP money can be exchanged and sent across the world in seconds and cost cents....
This is a start, any questions?
As for commodities as a digital coin or token. When our currency was gold backed, the dollar was matched to it. If you traveled across America in early days and you didn't want to risk your gold or silver, you'd put it in a bank, the bank gives you a "note" and you turn in that note for your gold in the town you're going to...crypto will basically work like that...plus ones like XRP money can be exchanged and sent across the world in seconds and cost cents....
This is a start, any questions?
09:23 PM - Apr 07, 2023
In response Angels Here -Z to her Publication
Only people mentioned by CMHuff98 in this post can reply
08 April, 03:31
In response Alex Rogan to his Publication
Well so far Nana understands that XRP will be a utility not a coin, and I do like you hold my XRP in an offline hard wallet.
Now idk about how the rest would be set up but for sure we know that minted gold and silver coins are good.
As for the backing idk how they will handle this and Idk if anyone but the Q team does at this point really.
Now idk about how the rest would be set up but for sure we know that minted gold and silver coins are good.
As for the backing idk how they will handle this and Idk if anyone but the Q team does at this point really.
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Law & Physics
@physics171
08 April, 01:10
In response Alex Rogan to his Publication
Why CBDC's are Not Central Banks - YouTube
A quick clip on the actual role and function of CBDC's (tokenized assets) in the decentralized digital ecosystem. Debunking the popular narrative of a centr...
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