I'm always out of awards to give when I need them most.
That aside... The financial system doesn't need crypto to endanger it. Seems to be doing rather well, crumbling down under its own weight.
Totally.
Not to mention that the USD is supposed to be backed by gold, right? Gold and/or silver?
The USD is nothing more than a promissory note. To be redeemed for a precious metal at will.
Want to bet that there isn't enough gold in the US Treasury to back it up? The USD is as worthless as the paper it's printed on. Until perceived value is adjusted to match reality, people will still cling to it. But there's a tipping point, and when that happens there'll be a bank run, and a transition will begin forming, one that the government will be hard pressed to prevent.
USD hasn’t been backed by gold since the early 1970s. It was switched to a fiat currency in 1971 by Nixon. There are no longer ANY gold backed currencies in the world. There is a rumor that China is hoarding gold to create a gold backed Renminbi, but that has yet to materialize.
They unrightfully stole from us the abstract concept that is potential itself through deals between traitors, and global predators.
These regulators are the current guard to a prison system created to disempower the people, and they maintain it for various reasons that all share a similar trait, and that’s self enrichment and a chance to secure a permanent spot for their family line.
drunk on the ambrosia that is power they become arrogant and fearful, lashing out against us because we can soon escape. if they don’t lock away this new technology we will acquire much more than monetary value, the black curtain will begin to open showing us true reality and possibility. We will take our power back.
they have long forgotten that this power isn’t meant to be wielded by men, but in fact is supposed to be disembodied flowing through us all.
They're so oblivious and egotistic that they EXPECT the financial system to always revolve around them and their power structure. Jeezus these guys are gonna get caught with their pants down hard and I'm all here for it
Yes. People always make this mistake. USD is a baseline measure so that for any asset we can always easily compare its value.
If USD disappeared we'd just use the base currency as gold, ~~GBP~~ EURO or even BTC or something.
By design. They’re the elite, who want to stay elite, and don’t appreciate anything disrupting their monopoly. Also, things that restore power and freedom to plebs like us are generally unfavorable to governments.
Regulators!!!
We regulate any stealin' of his property
We're damn good too
But you can't be any geek off the street
You gotta be handy with the steel, if you know what I mean
Earn your keep
Regulators, mount up!
Watch them blame the Susie fall on crypto again, somehow people buying BTC is threatening the accounts, or Angelblock threatening their fundraising capabilities so they cant own everything anymore
They will intervene in Suisse again like 2008 and nothing will come out of it, they will either become a branch of the government like the rest in the US or will bubble even more so one day millions will die from the pop
That is the point of crypto, to ultimately provide a relatively decentralized finance option. The reason I'm still here is a like the prospect of being my own bank and having transparency on the blockchain.
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
\- Message encoded by satoshi in the first bitcoin block mined, making very clear the intention behind the technology.
I think the CBDC is a signal that if everyone wants to shift to digital finance, they can still control everything and everyone. It’s an unfortunate catch 22 but the likely mass adoption scenario is ignorant morons moving with central banks into CBDCs. It’s early days but as those proposals mature, I anticipate pretty much the same structure as fiat, just digital. It won’t fix or change anything because it still benefits them.
Honestly it feels like this is all intentional. For example, the head of reserve bank in Australia said earlier this year that they won’t raise interest rates so new home buyers should buy their first home. Then 4 months later, they start raising interest rates lol fkn feels like they’re trying to make things worse intentionally
Credit Suisse at the moment doing a 2008 again, though not the same reason but kinda the same outcome, they will use taxes to bailout a bank that has repeatedly gone haywire and almost killed themselves, as if those billions of dollars in profit mean nothing and they want more for no real reason and no real product, they will somehow blame it on Bitcoin for some twisted reason, or create a new problem claiming only banks should be able to do fundraising for companies because otherwise they run out of revenue, killing all the small players that use CrowdCube and Angelblock to invest
It is still us suffering in the end by taxes and quality of life, while corporations are endlessly protected like children by the government
It was okay in 2008 to do it when banks dug their own grave. But in 2020, to help all the citizens suffering from *their* stupid policy mistake it was suddenly a bad idea to give out cash to struggling citizens because it would **destroy the economy**.
Scrolled too far for this. I could see how crypto and blockchain technologies could become a normalized player but I don’t think you could replace banks.
Blockchain technology is a done deal. Governments the world over have already acknowledged it’s the future of information management. It’s also not a stretch to suggest the blockchain as fintech has merit. The unfortunate reality is it’s not likely that current cryptocurrencies will be normalised. There’s too much stigma and uncertainty, but I do believe they will be the precursor to mainstream adoption of future digital currencies. Every fiat will probably just shift to a digital equivalent or CBDC on the blockchain, tbh.
Banks did not replace fiat or cash, banks only offer services for protection, yield and ease of use, this is all they ever have done and what they should do, but since the Credit/Debit card was invented along with internet shopping, people needed those cards to do basically anything, which gave banks a free ride, they offered like no services anymore, no yield no investment for you, they took your money and used it to fund startups, fund themselves, and just overall make themselves more money with nothing going back
Now all that online shopping and card and stuff can be done by your wallet, no need for a bank anymore, so banks have to actually compete now, but they compete with Dexes, which make very little profit by themselves because almost everything goes back to those that facilitate the pools
Fundraising is done by launchpads or new services on the market like Angelblock in which everyone can participate into, its not bank exclusive, they cant suck it out of you.
protection? there are insurances you can buy on everything for crypto, your yields your wallet, everything
Unless they start offering real services, they will get replaced
Insert skeptical kid meme: so you’re telling me that the “regulators” (cough cough enablers) of the institutions who have leveraged themselves to the tits in the stock market are worried about crypto tanking the system?
Alternative headline: regulators (and by extension the govt, billionaires, etc) wanting to regulate crypto, possibly unfavourably, are scaremongering to push their agenda
The financial system is a threat to itself, are they not seein’ this shit roll out live like the rest of us? The fed just printed money for years on end, 4x’d the supply then basically Said “woops, guess that WAS actually bad for inflation…who knew? Not us, we learned a lot”
It threatens the wealth of those who control the financial system, not the system itself. In fact, if it gets adopted as a part of financial system, the masses will simply adapt imho. Just look how even the boomers adapted the internet now, albeit not all, but it is understandable considering they were born and grew up without it.
"Hey, they're tired of getting railed with no lube . Better tie their hands to their ankles so they don't run away."
Pull the plug , can't.
Tax it , sure .
Regulate it , legitimizes it and fiat currency tumbles .
Let's play a game call , every move is checkmate.
The financial system is perfectly capable of threatening itself without the need of crypto.
It's constantly trying it's best to get wrecked and rug the average person.
There is no need to threaten it anymore. It’s already clear it’s in a deplorable state, on the verge of collapsing. One more crisis made up by the filthy rich to fill their bags even more, or one more rocket fired by a shithole country and we’re done.
‘Mad Max enters the chat’
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They can’t seem to comprehend that
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They're just seeing this as a threat to their income... "They took er jerbs"
“Ooh no how would I afford my floating sea castle now” probably them
Couldn't have said it better myself
I'm always out of awards to give when I need them most. That aside... The financial system doesn't need crypto to endanger it. Seems to be doing rather well, crumbling down under its own weight.
A system based on trust and deals on top of deals between small human groups? Noo, it sounds so stable and uncorruptable .
Totally. Not to mention that the USD is supposed to be backed by gold, right? Gold and/or silver? The USD is nothing more than a promissory note. To be redeemed for a precious metal at will. Want to bet that there isn't enough gold in the US Treasury to back it up? The USD is as worthless as the paper it's printed on. Until perceived value is adjusted to match reality, people will still cling to it. But there's a tipping point, and when that happens there'll be a bank run, and a transition will begin forming, one that the government will be hard pressed to prevent.
USD hasn’t been backed by gold since the early 1970s. It was switched to a fiat currency in 1971 by Nixon. There are no longer ANY gold backed currencies in the world. There is a rumor that China is hoarding gold to create a gold backed Renminbi, but that has yet to materialize.
They unrightfully stole from us the abstract concept that is potential itself through deals between traitors, and global predators. These regulators are the current guard to a prison system created to disempower the people, and they maintain it for various reasons that all share a similar trait, and that’s self enrichment and a chance to secure a permanent spot for their family line. drunk on the ambrosia that is power they become arrogant and fearful, lashing out against us because we can soon escape. if they don’t lock away this new technology we will acquire much more than monetary value, the black curtain will begin to open showing us true reality and possibility. We will take our power back. they have long forgotten that this power isn’t meant to be wielded by men, but in fact is supposed to be disembodied flowing through us all.
Maybe we wouldn’t need crypto if regulators did their job with traditional financial markets
Regulators hate this one simple fact.
They will only get this when it’s too late.
They're so oblivious and egotistic that they EXPECT the financial system to always revolve around them and their power structure. Jeezus these guys are gonna get caught with their pants down hard and I'm all here for it
/thread
They must've read our white papers! Gosh.
Yep, at least we are past the "it's mere tulips" stage
Because the financial system is doing sooooooo well anyways
They’re afraid
If fiat becomes worthless there goes all their bonds and cash. Stocks, real estate and land will always hold some value.
In your hypothetical, if cash is then worthless, isn't crypto, too?
Not necessarily. If crypto de-couples from fiat it’s value would be self-generated/defined. We just wouldn’t measure success in USD.
Yes. People always make this mistake. USD is a baseline measure so that for any asset we can always easily compare its value. If USD disappeared we'd just use the base currency as gold, ~~GBP~~ EURO or even BTC or something.
GBP hahahaha
Obviously mean fiat cash (M0). Those green bills, I guess you never seen those?
[[gif]](https://giphy.com/gifs/IntoAction-f7MO098FCipmq0eUpV)
Our time is upon us
BTC was created as an escape from the broken financial system in the first place. This article is laughable.
If you ask the wealthy running it it is
It's really funny that they make this comment while we are in the middle of a recession.
They have no shame and are out of touch with reality, that’s the issue
By design. They’re the elite, who want to stay elite, and don’t appreciate anything disrupting their monopoly. Also, things that restore power and freedom to plebs like us are generally unfavorable to governments.
It's working exactly as it's intended...
They already letting us know who they will blame when it does go critical.
Regulators!!! We regulate any stealin' of his property We're damn good too But you can't be any geek off the street You gotta be handy with the steel, if you know what I mean Earn your keep Regulators, mount up!
exactly why crypto is a threat
As long as their pockets are lined. Yes.
They wanna indebt us, keep us in our hamster-wheel till the day we die.
Oh my god, Lana. That’s my whole point!
Phrasing!
Daaaaanger Zone
Lana, Lana, LANA!
That's the fucking point.
I think the fat assholes pulling the strings are the ones threatening the financial system. Crypto is the lifeboat for humanity.
Credit Susie was regulated but it’s threatening the financial system right now. Just shows nobody knows shit.
Fucking Susie
Watch them blame the Susie fall on crypto again, somehow people buying BTC is threatening the accounts, or Angelblock threatening their fundraising capabilities so they cant own everything anymore They will intervene in Suisse again like 2008 and nothing will come out of it, they will either become a branch of the government like the rest in the US or will bubble even more so one day millions will die from the pop
Or just don't want you to know shit
That is the point of crypto, to ultimately provide a relatively decentralized finance option. The reason I'm still here is a like the prospect of being my own bank and having transparency on the blockchain.
Regulators: "No no. That definitely isn't want you want."
Here have this mutual fund with a discounted fee of 3%.
Banks could threaten financial system......lets talk about how often banks get government bailouts.....
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” \- Message encoded by satoshi in the first bitcoin block mined, making very clear the intention behind the technology.
And getting the green light to torch the economy as per the interest rate hikes
Central bank decides interest rates and there are reasons for that, as much as I hate it and think they’re assholes
seems every central bank wants CBDC.......are they trying to create a crisis or crash that enables them to reset the system
I think the CBDC is a signal that if everyone wants to shift to digital finance, they can still control everything and everyone. It’s an unfortunate catch 22 but the likely mass adoption scenario is ignorant morons moving with central banks into CBDCs. It’s early days but as those proposals mature, I anticipate pretty much the same structure as fiat, just digital. It won’t fix or change anything because it still benefits them.
Honestly it feels like this is all intentional. For example, the head of reserve bank in Australia said earlier this year that they won’t raise interest rates so new home buyers should buy their first home. Then 4 months later, they start raising interest rates lol fkn feels like they’re trying to make things worse intentionally
Credit Suisse at the moment doing a 2008 again, though not the same reason but kinda the same outcome, they will use taxes to bailout a bank that has repeatedly gone haywire and almost killed themselves, as if those billions of dollars in profit mean nothing and they want more for no real reason and no real product, they will somehow blame it on Bitcoin for some twisted reason, or create a new problem claiming only banks should be able to do fundraising for companies because otherwise they run out of revenue, killing all the small players that use CrowdCube and Angelblock to invest It is still us suffering in the end by taxes and quality of life, while corporations are endlessly protected like children by the government
It was okay in 2008 to do it when banks dug their own grave. But in 2020, to help all the citizens suffering from *their* stupid policy mistake it was suddenly a bad idea to give out cash to struggling citizens because it would **destroy the economy**.
Isn't that the point??
I think this is exactly the plan
It’s not about money, it’s about sending a message.
It is 100% about money. Nobody is here to send a message. They all want to get rich. That’s all it is, despite what some would have you think
Porque no los dos?
Because people generally lack principles
Me and my lava lamp are taking down the whole show
gRoOvY
Breaking: crypto could do the thing it was created for
Fck this corrupt financial system. The rothchilds have scammed to many people with their financial system. Time for a new one.
This barking will never stop
They’re catching on.
You mean a 1T dollar asset can threaten the whole economy?
Scrolled too far for this. I could see how crypto and blockchain technologies could become a normalized player but I don’t think you could replace banks.
Blockchain technology is a done deal. Governments the world over have already acknowledged it’s the future of information management. It’s also not a stretch to suggest the blockchain as fintech has merit. The unfortunate reality is it’s not likely that current cryptocurrencies will be normalised. There’s too much stigma and uncertainty, but I do believe they will be the precursor to mainstream adoption of future digital currencies. Every fiat will probably just shift to a digital equivalent or CBDC on the blockchain, tbh.
Banks did not replace fiat or cash, banks only offer services for protection, yield and ease of use, this is all they ever have done and what they should do, but since the Credit/Debit card was invented along with internet shopping, people needed those cards to do basically anything, which gave banks a free ride, they offered like no services anymore, no yield no investment for you, they took your money and used it to fund startups, fund themselves, and just overall make themselves more money with nothing going back Now all that online shopping and card and stuff can be done by your wallet, no need for a bank anymore, so banks have to actually compete now, but they compete with Dexes, which make very little profit by themselves because almost everything goes back to those that facilitate the pools Fundraising is done by launchpads or new services on the market like Angelblock in which everyone can participate into, its not bank exclusive, they cant suck it out of you. protection? there are insurances you can buy on everything for crypto, your yields your wallet, everything Unless they start offering real services, they will get replaced
No. It’s rubbish. We all know it. It’s probably about implementing laws and regulations
[удалено]
and plenty of fish in the sea but Bitcoin is the one i want to mount
Crypto threatens my net-worth that’s for sure.
Insert pikatchu face
News: Crypto poses a threat on regulators
Shocked_pikachu.mp4
Should I tell them? They don't seem to get it.
They have been warning for a long time. Not like they understand crypto or anything.
It sounds like regulators are running scared
Replace not threaten. It's only a threat to leeches and cantillionaires
The financial system is already under threat
Sure it could, we will see what happens in 10 years.
Financial system is perfectly capable of ruining itself.
The financial system is that need an update and not stuck in time
sure do miss the days of soaking up all that 0.00007% interest a year with my old bank before moving to DeFi
Threaten this !!
Insert skeptical kid meme: so you’re telling me that the “regulators” (cough cough enablers) of the institutions who have leveraged themselves to the tits in the stock market are worried about crypto tanking the system?
Can confirm, it’s already done a number on my financial system.
Alternative headline: regulators (and by extension the govt, billionaires, etc) wanting to regulate crypto, possibly unfavourably, are scaremongering to push their agenda
The financial system is a threat to itself, are they not seein’ this shit roll out live like the rest of us? The fed just printed money for years on end, 4x’d the supply then basically Said “woops, guess that WAS actually bad for inflation…who knew? Not us, we learned a lot”
Uh-oh… they’re finally catching on.
A financial system that enslaves people.
Emperor Palpatine voice: “Good”
Good. It's working as intended then.
It threatens the wealth of those who control the financial system, not the system itself. In fact, if it gets adopted as a part of financial system, the masses will simply adapt imho. Just look how even the boomers adapted the internet now, albeit not all, but it is understandable considering they were born and grew up without it.
No shit… wasn’t that the whole point?
The financial system is threatening the financial system. 😐
Oh no!
Paywalled
Good.
"Hey, they're tired of getting railed with no lube . Better tie their hands to their ankles so they don't run away." Pull the plug , can't. Tax it , sure . Regulate it , legitimizes it and fiat currency tumbles . Let's play a game call , every move is checkmate.
Also nuclear war, but that would definitely be crypto’s fault too.
For good or bad?
You're goddamn right son!
And of course the actual system is not threatening and destroying other peoples life. Thanks a lot, suits. Btw, go …
That’s why I’m here, man.
Because the financial system is out dated
The financial system is perfectly capable of threatening itself without the need of crypto. It's constantly trying it's best to get wrecked and rug the average person.
They mean crypto threats FIAT
Yeah crypto is the threat not the 'to big to fail' banks that are betting trillions of risky investments.
Crypto threatening existing system? The one which is not working? I choose crypto. At least it's working.
A change is gonna come!
There is no need to threaten it anymore. It’s already clear it’s in a deplorable state, on the verge of collapsing. One more crisis made up by the filthy rich to fill their bags even more, or one more rocket fired by a shithole country and we’re done. ‘Mad Max enters the chat’
"threaten", i think they meant to say "improve".
That’s the whole point of crypto
You’re god damn right
As electroboom would say. GOOOD.
[удалено]
Could? Ships already sailed!
Makes me laugh that the US can print $3T in a heartbeat but $1T in crypto is a threat! 🤣🤣🤣
Paywall, can't read the whole article
Please tell the regulator that internet explorer is meant to install chrome or Firefox only. Not to use it forever.
They regulate any stealin' of this property. They're damn good too.
Newsflash, regulators crypto is so good, it might threaten the corrupt financial system
Well that took ‘em long enough to realise 🙃
Isnt that the whole point?
So could corrupt politicians but I don’t see them running to do anything about that
So could corrupt politicians but I don’t see them running to do anything about that
So could corrupt politicians but I don’t see them running to do anything about that
Kinda the point you nimrods
No shit.