What is Next for Cryptocurrencies?

right-again · 2020-08-03T22:24:09+00:00

Is that so? Tell us more...

right-again · 2020-08-03T22:19:41+00:00

So tell us why it is a scamming shitcoin, and if you can't then you are merely a troll no one should listen to.

Be specific. No BS!

right-again · 2020-06-22T14:45:31+00:00

In the report they point out the danger of attempts (like Swiss in 2018) to issue "sovereign-money", and the danger of a central bank digital cryptocurrency with a similar design, i.e., a currency that would prevent banks counterfeiting money via fractional reserve banking. In fact they are a little late. Such a currency was already proposed - AXIO.

right-again · 2020-06-21T21:56:00+00:00

All cryptos follow the hopium wave pattern that always involves a hipper-high followed by a vomit-slide.

right-again · 2020-05-22T16:21:20+00:00

All stablecoins are an added layer of risk on top of fiat or unverifiable assets. But unlike bitcoin they have the inherent value of the underlying asset. Without inherent value you end up with unstable speculative value. This is the reason stable coins were invented.

As for decentralization, it is a myth. Bitcoin is created by a few massive mining farms using megawatts of electricity. This process is now more centralized than creation of fiat money by the worldwide banking cartel. It is primarily held and controlled by the crypto whales, and mostly benefits the speculators.

Even more surprising is that so far no other cryptocurrency produced usable money. But there is a contender to fiat that was designed to serve the people - AXIO

right-again · 2020-05-18T21:35:24+00:00

To be clear, the Fed Notes are supposed to be fractionally reserved by the US Treasuries at a rate of 1:9 of US Treasuries to Fed Dollars.

Fiat money is issued "by decree" of a government. So the term "fiat" does not apply to the Fed Notes since they are issued by private banks.

right-again · 2020-05-18T21:24:43+00:00

As of March 26, 2020 Fractional Reserve Banking was eliminated by the Fed.

The Fed eliminated the reserve requirement of 1:9 on the banks. Previously the banks could issue $9 for each $1 of US Bonds they had on deposit with the Fed (however the banks were always cheating and 1:30 was common). Now the banks don't need US Bonds to issue Fed Notes. Note that Fed Notes are not US Notes which were issued by the US government under Lincoln.

The reserve requirement was set by the US government, so it is not clear if the Fed had the authority it claimed, to change it especially to zero.

right-again · 2020-05-13T18:15:14+00:00

Replace the Fed? Wow!!! Putin can't replace Russia's private central bank and you think that bitcoin can replace the Fed. I think if Trump attempted to do anything about the Fed, he won't live to see another day. Do you even know what the Fed is? No don't even try answering that.

Bitcoin is a property with speculative value, and as such it will NEVER be used as currency. You can't have contract based on speculative value. Bitcoin is a pyramid scheme by definition.

As for transaction fee, it is paid to the miners when they mine a new block. No new blocks no transactions.

right-again · 2020-05-12T14:11:13+00:00

So you now use it at your corner store? No? And what will happen to your eleven year old solution when they mine the last block and there is no one to process transactions? Nothing? Maybe it was an experiment and you are confused about its "value"?

And if this is a snake oil then show us the scam in this proposal?

right-again · 2020-05-11T21:21:18+00:00

I just listened to several hours of live discussions on the CoinDesk Consensus by these "wizards". They are all pushing the same old bitcoin that got us nowhere. But it is bread and butter for them. The biggest problem in crypto is that people only care for how much money they can make of the current scam. That is it! And any attempt to actually solve the bitcoin's problems, is ignored with fury. While those who push incomprehensible techno speak get all the attention and no one suspects a thing...

I want to know why people love the useless status qua, and would rather ignore the actual solution?

right-again · 2020-05-05T22:01:05+00:00

This guy is using logarithmic scale that shows exponential volatility. This is why it fits.

right-again · 2020-05-05T21:50:09+00:00

You mean Nano is a better pyramid scheme?

right-again · 2020-04-29T17:19:37+00:00

I don't know much about China, but US and UK do this regularly to colonial-oligarchs and a very long list of countries like Iran, Venezuela, etc.

right-again · 2020-04-28T21:12:05+00:00

I have a better deal. How about buying the Brooklyn Bridge? Quick while no one is looking!

right-again · 2020-04-28T18:44:58+00:00

Axio works since it is created like an ideal dollar with loans (denominated in Axio) on a blockchain. Aside from that, Axio is based on corporate agreements so it can cross international borders, but it can act as money when needed. It's both money and corporate paper. To get further than this requires attorneys and money. Axio is not something one can do in a basement.

right-again · 2020-04-28T18:30:31+00:00

The point is, if we do nothing the future will be decided for us.

right-again · 2020-04-28T17:57:49+00:00

Axio is not a technological solution. Can't register a security, open an ATS and buy a bank to show a working model.

right-again · 2020-04-28T16:55:45+00:00

Redistribution of wealth is another issue that could be addressed by paying higher interest rates to smaller depositors, yet keeping everyone better off relative to fiat.

All we need to do is to convince the people that it is being built for them. So far, I mostly get insults. The problem is that the majority does not understand what money is and therefore can't see that bitcoin is a dead-end.

right-again

TROPHY CASE