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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Thanks for the more detailed explanation, @VK, as it truly helps those of us just 'getting our feet wet'.
This part of your statement stood out for another reason to me, as well: "Only the useful will survive."
Would seem even that statement is perfectly correlated to what [they] have intended for us all along.
Thankful #GodWins 🙏
This part of your statement stood out for another reason to me, as well: "Only the useful will survive."
Would seem even that statement is perfectly correlated to what [they] have intended for us all along.
Thankful #GodWins 🙏
03:10 PM - May 24, 2022
In response Vincent Kennedy⍟ to his Publication
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