Doq Holliday
@doqholliday
24 May, 11:52
I still don’t think people truly understand what is happening to banks.
I keep seeing headlines like “The Bank of _____ is now offering crypto services”.
I laugh.
Once a bank turns someone’s FIAT money into crypto, the bank will never get it back.
You can then send your crypto to a yield farming service and get 9%-19% APY on your funds.
Imagine keeping your money in a bank after learning this.
The banks are allowing this big shiny trojan horse into their systems, not truly understanding the freedom it will bring to humanity.
Crypto is a golden off-ramp to get your money out of [their] system.
I keep seeing headlines like “The Bank of _____ is now offering crypto services”.
I laugh.
Once a bank turns someone’s FIAT money into crypto, the bank will never get it back.
You can then send your crypto to a yield farming service and get 9%-19% APY on your funds.
Imagine keeping your money in a bank after learning this.
The banks are allowing this big shiny trojan horse into their systems, not truly understanding the freedom it will bring to humanity.
Crypto is a golden off-ramp to get your money out of [their] system.
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24 May, 12:49
In response Doq Holliday to his Publication
The word Crypto freaks people out. I believe you are talking about a stablecoin like USDC That is 1 to 1 to the US dollar. Safe from the crypto markets.
I know you know this stuff but figured I would expand it a bit so everyone can understand.
Current 'Banks' will become 'Farms' as they wont have a choice but to adapt to DeFi. Many will just fail.
If you keep $1000 (USD) in a Banks savings account they will pay you $5 a year
If you keep $1000 (USDC) in a Farm it will earn you $90 a year.
If you try to take $10k in cash you have to declare @ airports.
No restrictions with a digital ledger. You can take your money with you everywhere. You have FULL ownership of your funds. The crypto market is full of scammers for that reason. Everyone trying to get your money.
Most coins are going to fail. Utility is king in the blockchain space. Only the useful will survive.
XRP is setting up nicely 2 b the onramp for Bank's Fiat. Lawsuit taking longer but gives opportunity.
#
I know you know this stuff but figured I would expand it a bit so everyone can understand.
Current 'Banks' will become 'Farms' as they wont have a choice but to adapt to DeFi. Many will just fail.
If you keep $1000 (USD) in a Banks savings account they will pay you $5 a year
If you keep $1000 (USDC) in a Farm it will earn you $90 a year.
If you try to take $10k in cash you have to declare @ airports.
No restrictions with a digital ledger. You can take your money with you everywhere. You have FULL ownership of your funds. The crypto market is full of scammers for that reason. Everyone trying to get your money.
Most coins are going to fail. Utility is king in the blockchain space. Only the useful will survive.
XRP is setting up nicely 2 b the onramp for Bank's Fiat. Lawsuit taking longer but gives opportunity.
#
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PeQQy 222
@KnotMe
24 May, 12:55
In response Vincent Kennedy⍟ to his Publication
This is like trying to teach my father how to use streaming. It just aint gonna happen for some people. Will there be provisions for people like seniors who are still stumped by flip phones.
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24 May, 12:59
In response PeQQy 222 to her Publication
USD is going to go digital. Since we will still have a paper/cash version many wont even notice since no learning curve.
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Bob Eddy Z
@falconeddyx
24 May, 01:07
In response Vincent Kennedy⍟ to his Publication
🤷♂️seems like it's been digital for years, Fed doesn't print all the currency they add zeros and charge interest. The Fiat can't even get bonds sold anymore. Russia and China are moving to asset backed for petro products and we are killing out petro industry. 🤦♂️
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24 May, 01:12
In response Bob Eddy Z to his Publication
Russia is showing the world that its ok to be sanctioned by the USA.
Russia's currency is the best performing in 2022.
Russia's currency is the best performing in 2022.
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One if the reason is that Russia requests gas and oil (and I think electricity too) payments in Rubles and not in Euros or Dollars, like it use to be. So the payer must open an account in Gazprom Bank and convert foreign currency in Rubles in order to pay. That goes only for unfriendly countries. For other (friendly/neutral) they can pay in Euros or Dollars. For China I think they can even pay in Yuans.
01:33 PM - May 24, 2022
In response Vincent Kennedy⍟ to his Publication
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