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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To my mind swopping out one system based on the like for like value is in its self a fraud that has its roots in the past...
The value taken from the weak and the sick... any wealth that has has come from that system has come at the expense of some group of people... who now have nothing to trade... because it was nicked.
Anyone trading anything is trading based on human trafficking and fraud... thats where the value has come from so some idiot dude for example, with a security firm or a bailiff company may have loads of Bite-coin... good for them... and the people they stole the goods from has no bite-coin...
I therefor take a back seat with this and pray the end really is magical and we can create our own value to make actual magic as opposed to a better class of slavery.
In the end WE ARE THE VALUE.. its not outside of us in the form of anything... It is all us.
I also say this aware that I have a partial view.
The value taken from the weak and the sick... any wealth that has has come from that system has come at the expense of some group of people... who now have nothing to trade... because it was nicked.
Anyone trading anything is trading based on human trafficking and fraud... thats where the value has come from so some idiot dude for example, with a security firm or a bailiff company may have loads of Bite-coin... good for them... and the people they stole the goods from has no bite-coin...
I therefor take a back seat with this and pray the end really is magical and we can create our own value to make actual magic as opposed to a better class of slavery.
In the end WE ARE THE VALUE.. its not outside of us in the form of anything... It is all us.
I also say this aware that I have a partial view.
10:05 AM - May 25, 2022
In response Vincent Kennedy⍟ to his Publication
Only people mentioned by antidote528 in this post can reply
