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Post by zenfootball2 on Oct 27, 2022 15:33:02 GMT 1
im sure there are people on the board with a lot more knowledge about digital currency than i have, however an intresting and slightly disturbing aricle.this will affect everyone and if there are not robust safeguards it has the potential to be missuesed.
also in the article it mentions that his father in law is a major player in next generation digital services.the guest speaker highlights some examples of how it could be misuesd.also we have recently seen how a goverment can quickly brush aside civil libeerties and trys to control the populationwhen .whilst sunak talks about cash and a digital currency i cant imagine it would be long before cash disapears.
’It’s all about control’ | Eva Vlaardingerbroek on Rishi Sunak’s fondness of CBDCs
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Post by block12massive on Oct 27, 2022 16:48:13 GMT 1
I won't spend my money anywhere that doesn't accept cash as a form of payment.
Seeing the pound, dollar and euro at almost exact parity for the first time recently was another red flag pointing towards this endless pursuit of creating a digital currency and furthering a 'checkpoint charlie' society.
We witnessed this in Canada of all places, not communist China, where pro-freedom protestors had their bank accounts seized for expressing their right to protest during the pandemic.
I still can't quite do the math as to why a virus that posed little more than a cold for most people has ended up in practically forced inoculations and western governments desperately clamouring for a Chinese style credit system.
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Post by martinshrew on Oct 28, 2022 7:36:36 GMT 1
The SECs failing case with Ripple is going to open the floodgates for cryptocurrency to become more mainstream, the idea of it was never to be controlled by central banks though.
They can try creating a Britcoin etc, but it'll just peg the pound and likely won't take off in popularity unless forced with the complete withdrawal of cash, which I can't see in my lifetime.
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Post by zenfootball2 on Oct 30, 2022 16:57:11 GMT 1
The SECs failing case with Ripple is going to open the floodgates for cryptocurrency to become more mainstream, the idea of it was never to be controlled by central banks though. They can try creating a Britcoin etc, but it'll just peg the pound and likely won't take off in popularity unless forced with the complete withdrawal of cash, which I can't see in my lifetime. if i understod this correctly the G7 have agreed in principle to it and China seem very determind to push forward with it but as i stated i no expert in this. in the uk if they go ahead it will be running along side cash but i would have thought cash will quickly go. whilst very different look at the speed of banks going to banking apps. |
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Post by stuttgartershrew on Oct 31, 2022 12:00:50 GMT 1
Not too sure this is related in some way but I get the feeling it is, did anyone catch the news recently regarding PayPal closing down a number of accounts? I'm a member of the Free Speech Union and PayPal closed down their account. Now granted PayPal are a private company and I suppose they can deal with who they like and thankfully other payment methods are available (although just to add, after some pushback PayPal reinstated the account). But it gets you thinking, if you are looking to pay for certain things and you can only do so using a particular method the amount of control you can gain. You can simply look to starve those you disagree with of funds so they can no longer operate.
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Post by zenfootball2 on Oct 31, 2022 12:28:41 GMT 1
Not too sure this is related in some way but I get the feeling it is, did anyone catch the news recently regarding PayPal closing down a number of accounts? I'm a member of the Free Speech Union and PayPal closed down their account. Now granted PayPal are a private company and I suppose they can deal with who they like and thankfully other payment methods are available (although just to add, after some pushback PayPal reinstated the account). But it gets you thinking, if you are looking to pay for certain things and you can only do so using a particular method the amount of control you can gain. You can simply look to starve those you disagree with of funds so they can no longer operate. i think it is very relervant in the link i posted the women who was against was dutch and was saying that there supermarkets showed hte carbon fotprint of what they have bought on a bill, if you no longer have control of your money who knows what controls a country could impose on you, |
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kp
Midland League Division One
Posts: 495
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Post by kp on Oct 31, 2022 13:18:05 GMT 1
Not too sure this is related in some way but I get the feeling it is, did anyone catch the news recently regarding PayPal closing down a number of accounts? I'm a member of the Free Speech Union and PayPal closed down their account. Now granted PayPal are a private company and I suppose they can deal with who they like and thankfully other payment methods are available (although just to add, after some pushback PayPal reinstated the account). But it gets you thinking, if you are looking to pay for certain things and you can only do so using a particular method the amount of control you can gain. You can simply look to starve those you disagree with of funds so they can no longer operate. Oh it is indeed all related I perceive. |
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Post by martinshrew on Oct 31, 2022 16:33:35 GMT 1
The PayPal thing is crazy, though I'm not quite deep into the central banking conspiracy.
Like the WEF, it's nonsense.
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Post by frankwellshrews on Oct 31, 2022 16:52:43 GMT 1
In practice there's very little difference between a CBDC and cash in the form of bank balances. In terms of the conspiracy type stuff there is nothing that the former allows you to do that the latter doesn't already. In fact, the basic premise of a CBDC is to increase efficiency and reduce costs by "cutting out the middleman" in the same way cryptocurrencies (theoretically; in practice, most transfers of genuine cryptos are neither efficient nor cheap) do by allowing you to transact directly with the counterparty without an intermediary so there's an argument that CBDC is actually more, not less, censorship resistant.
Why does the future of this seem to lie with central banks and not existing cryptos? Essentially CBDCs are trying to marry two concepts from the wider crypto world together;
1. The speed and cheapness of transfer of XRP;
2. The stable price of stablecoins like tether;
As it stands, Ripple's token fulfills the first part of the brief but its price fluctuates too much to be useful as a medium of exchange. Stablecoins fulfill the second part of the brief but the largest of these (tether) is widely considered to be a large scale financial fraud which highlights the issue that, to function as a genuine currency, users have to have absolute surety over what it represents (ie 1 CBDC = £1 because there is demonstrably £1 in reserve backing it).
CBDCs are the obvious solution to this; most users will trust currency issued by a central bank, the price is pegged to local currency and if it offers the efficiencies of XRP it could save individuals and businesses a lot of money.
Conspiracy theorists can sleep easy though in my opinion; why would a country as economically reliant on financial services effectively undercut its main industry by removing a large chunk of its business or put banks at risk of runs (ie if people can just easily transfer to central bank or similar at times of crisis, could banks actually go under)? Doubtful in my view. Too many lobbyists involved for that to happen.
As for the removal of paper cash, this is a separate issue and shouldn't be confused with CBDCs. It's almost certainly going to happen though, whether people like it or not. Given the amount of financial fraud which already happens within the confines of the banking system though, I doubt the truly paranoid will struggle to find ways of covering your tracks if you're really concerned that the Bildeberg group are monitoring what you buy at tesco for some nefarious reason.
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Post by frankwellshrews on Oct 31, 2022 16:53:28 GMT 1
The PayPal thing is crazy, though I'm not quite deep into the central banking conspiracy. Like the WEF, it's nonsense. 😂 this is a much more succinct way of putting it. |
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kp
Midland League Division One
Posts: 495
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Post by kp on Nov 9, 2022 16:52:44 GMT 1
Not too sure this is related in some way but I get the feeling it is, did anyone catch the news recently regarding PayPal closing down a number of accounts? I'm a member of the Free Speech Union and PayPal closed down their account. Now granted PayPal are a private company and I suppose they can deal with who they like and thankfully other payment methods are available (although just to add, after some pushback PayPal reinstated the account). But it gets you thinking, if you are looking to pay for certain things and you can only do so using a particular method the amount of control you can gain. You can simply look to starve those you disagree with of funds so they can no longer operate. You only need to look at what happened to the funds raised for the Canadian truckers. |
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kp
Midland League Division One
Posts: 495
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Post by kp on Nov 9, 2022 16:53:24 GMT 1
The PayPal thing is crazy, though I'm not quite deep into the central banking conspiracy. Like the WEF, it's nonsense. Tell the WEF that...they have their man in Rishi now I see. |
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Post by martinshrew on Nov 9, 2022 17:09:49 GMT 1
The PayPal thing is crazy, though I'm not quite deep into the central banking conspiracy. Like the WEF, it's nonsense. Tell the WEF that...they have their man in Rishi now I see. 😂😂😂 deep down that rabbit hole I see. |
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Post by frankwellshrews on Nov 9, 2022 17:12:58 GMT 1
Not too sure this is related in some way but I get the feeling it is, did anyone catch the news recently regarding PayPal closing down a number of accounts? I'm a member of the Free Speech Union and PayPal closed down their account. Now granted PayPal are a private company and I suppose they can deal with who they like and thankfully other payment methods are available (although just to add, after some pushback PayPal reinstated the account). But it gets you thinking, if you are looking to pay for certain things and you can only do so using a particular method the amount of control you can gain. You can simply look to starve those you disagree with of funds so they can no longer operate. You only need to look at what happened to the funds raised for the Canadian truckers. The same legislation that allowed Canadian authorities to freeze certain crypto wallets would also enable them to freeze bank accounts though? Most countries have this. Really not sure what your point is. |
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Post by martinshrew on Nov 9, 2022 18:04:15 GMT 1
You only need to look at what happened to the funds raised for the Canadian truckers. The same legislation that allowed Canadian authorities to freeze certain crypto wallets would also enable them to freeze bank accounts though? Most countries have this. Really not sure what your point is. The WEF are taking over the world with puppet leaders and will control all our money, don't you know? |
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Post by frankwellshrews on Nov 9, 2022 18:12:25 GMT 1
The same legislation that allowed Canadian authorities to freeze certain crypto wallets would also enable them to freeze bank accounts though? Most countries have this. Really not sure what your point is. The WEF are taking over the world with puppet leaders and will control all our money, don't you know? Whilst I've got you on the topic of digital currency, fascinating week this week in crypto world, no? LBRY case (and possible knock on for XRP); FTX collapse, Binance deal looking dodgy; Collapse of FTT and related btc collapse - precursor of tether going pop? Bitcoin now at a 23 month low (as of about an hour ago). |
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Post by martinshrew on Nov 9, 2022 23:47:00 GMT 1
The WEF are taking over the world with puppet leaders and will control all our money, don't you know? Whilst I've got you on the topic of digital currency, fascinating week this week in crypto world, no? LBRY case (and possible knock on for XRP); FTX collapse, Binance deal looking dodgy; Collapse of FTT and related btc collapse - precursor of tether going pop? Bitcoin now at a 23 month low (as of about an hour ago). Tell you what, it's absolutely bombed last 24 hours. Would you bet anything significant against it surpassing ATH again at some point? I wouldn't. |
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Post by frankwellshrews on Nov 10, 2022 0:59:57 GMT 1
Whilst I've got you on the topic of digital currency, fascinating week this week in crypto world, no? LBRY case (and possible knock on for XRP); FTX collapse, Binance deal looking dodgy; Collapse of FTT and related btc collapse - precursor of tether going pop? Bitcoin now at a 23 month low (as of about an hour ago). Tell you what, it's absolutely bombed last 24 hours. Would you bet anything significant against it surpassing ATH again at some point? I wouldn't. Since I wrote that first message, the Binance/FTX deal fell through, bitcoin crashed through $16k/£14k and, bizarrely, $3bn in stolen bitcoin was uncovered by authorities (which will be dumped on the open market along with the Mt Gox billions). As a rule I don't bet in rigged casinos where I don't have insider knowledge so no, I wouldn't take that bet, but you have to admit it doesn't look good, does it? Valuation of FTX and Alameda went from north of $10bn to a nominal $1 each in a matter of days. The SEC/LBRY case is really interesting; lots of speculation that it has set a precedent for the XRP case and basically all crypto (XRP has absolutely fallen off a cliff worse than bitcoin off the back of the news). Perfect storm for the second time in a matter of months. |
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Post by zenfootball2 on Nov 10, 2022 9:57:45 GMT 1
Whilst I've got you on the topic of digital currency, fascinating week this week in crypto world, no? LBRY case (and possible knock on for XRP); FTX collapse, Binance deal looking dodgy; Collapse of FTT and related btc collapse - precursor of tether going pop? Bitcoin now at a 23 month low (as of about an hour ago). Tell you what, it's absolutely bombed last 24 hours. Would you bet anything significant against it surpassing ATH again at some point? I wouldn't. i know virtualy nothing about bitcoin but it seems to have had periods with alarming crashes and then rises like the phoneix |
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Post by martinshrew on Nov 10, 2022 10:03:20 GMT 1
Tell you what, it's absolutely bombed last 24 hours. Would you bet anything significant against it surpassing ATH again at some point? I wouldn't. Since I wrote that first message, the Binance/FTX deal fell through, bitcoin crashed through $16k/£14k and, bizarrely, $3bn in stolen bitcoin was uncovered by authorities (which will be dumped on the open market along with the Mt Gox billions). As a rule I don't bet in rigged casinos where I don't have insider knowledge so no, I wouldn't take that bet, but you have to admit it doesn't look good, does it? Valuation of FTX and Alameda went from north of $10bn to a nominal $1 each in a matter of days. The SEC/LBRY case is really interesting; lots of speculation that it has set a precedent for the XRP case and basically all crypto (XRP has absolutely fallen off a cliff worse than bitcoin off the back of the news). Perfect storm for the second time in a matter of months. Beg to differ on XRP, it's totally different. I'd hardly say it's fell off a cliff either, in the last 90 days it's gone from $0.37 to $0.36. You can't look at these things over a 24 hour period, you need to stretch out the charts. XRP will absolutely pop off the charts at some point, I'm certain. |
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Post by Minormorris64 on Nov 10, 2022 11:43:44 GMT 1
The same legislation that allowed Canadian authorities to freeze certain crypto wallets would also enable them to freeze bank accounts though? Most countries have this. Really not sure what your point is. The WEF are taking over the world with puppet leaders and will control all our money, don't you know? They have been watching too many episodes of Stingray and Thunderbirds  |
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Post by frankwellshrews on Nov 10, 2022 11:48:44 GMT 1
Since I wrote that first message, the Binance/FTX deal fell through, bitcoin crashed through $16k/£14k and, bizarrely, $3bn in stolen bitcoin was uncovered by authorities (which will be dumped on the open market along with the Mt Gox billions). As a rule I don't bet in rigged casinos where I don't have insider knowledge so no, I wouldn't take that bet, but you have to admit it doesn't look good, does it? Valuation of FTX and Alameda went from north of $10bn to a nominal $1 each in a matter of days. The SEC/LBRY case is really interesting; lots of speculation that it has set a precedent for the XRP case and basically all crypto (XRP has absolutely fallen off a cliff worse than bitcoin off the back of the news). Perfect storm for the second time in a matter of months. Beg to differ on XRP, it's totally different. I'd hardly say it's fell off a cliff either, in the last 90 days it's gone from $0.37 to $0.36. You can't look at these things over a 24 hour period, you need to stretch out the charts. XRP will absolutely pop off the charts at some point, I'm certain. With respect Martin, it shed over 30% in 2 days. For reference the stock market crash that triggered the great depression was 22% (crypto has beat this twice this year). It's clearly reacted to the LBRY case as well as the wider issues in crypto markets. The worrying thing for XRP holders in my view is Ripple doesn't need it; it can ultimately just as easily bin it and work with whatever CBDC governments and banks want to use or similar. The irony of it not being classed as a security so far is that Ripple has no obligation to regular token holders. |
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Post by martinshrew on Nov 10, 2022 12:13:01 GMT 1
Beg to differ on XRP, it's totally different. I'd hardly say it's fell off a cliff either, in the last 90 days it's gone from $0.37 to $0.36. You can't look at these things over a 24 hour period, you need to stretch out the charts. XRP will absolutely pop off the charts at some point, I'm certain. With respect Martin, it shed over 30% in 2 days. For reference the stock market crash that triggered the great depression was 22% (crypto has beat this twice this year). It's clearly reacted to the LBRY case as well as the wider issues in crypto markets. The worrying thing for XRP holders in my view is Ripple doesn't need it; it can ultimately just as easily bin it and work with whatever CBDC governments and banks want to use or similar. The irony of it not being classed as a security so far is that Ripple has no obligation to regular token holders. It gained 20% last week? You can put whatever metric you want, it's only a time period. Crypto is still in its infancy to be honest, it remains to be seen what happens. Put it this way, I'm glad I've got a chunk, and I've taken out far more than I've put in so the remainder is a free ride. Got the free FLR drop coming soon, 5,000 FLR! |
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Post by martinshrew on Nov 10, 2022 12:46:05 GMT 1
My watchlist in the last 90 days:
Losers:
Bitcoin $23k to $16k
Ethereum $1.9k to $1.2k
Cro $0.15 to $0.08
Sand $1.29 to $0.61
Mana $1.03 to $0.48
Sushi $1.50 to $1.14
Stagnant:
Matic $0.9 to $0.92
XRP $0.37 to $0.36
Most have shaved a third up to half of their value in the last 90 days. XRP has remained reasonably stable along with Matic.
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Post by frankwellshrews on Nov 10, 2022 13:03:25 GMT 1
With respect Martin, it shed over 30% in 2 days. For reference the stock market crash that triggered the great depression was 22% (crypto has beat this twice this year). It's clearly reacted to the LBRY case as well as the wider issues in crypto markets. The worrying thing for XRP holders in my view is Ripple doesn't need it; it can ultimately just as easily bin it and work with whatever CBDC governments and banks want to use or similar. The irony of it not being classed as a security so far is that Ripple has no obligation to regular token holders. It gained 20% last week? You can put whatever metric you want, it's only a time period. Crypto is still in its infancy to be honest, it remains to be seen what happens. Put it this way, I'm glad I've got a chunk, and I've taken out far more than I've put in so the remainder is a free ride. Got the free FLR drop coming soon, 5,000 FLR! If that's the case, aren't you just drawing an arbitrary line at 90 days because you prefer that answer? XRP is down about 85 - 90% from its all time high. Btc now about 75%. That's shocking whichever way you cut it, especially as we were told these are "inflation hedges". I'm ultimately more interested in the circumstances surrounding these falls though; yet another major exchange going bankrupt through a liquidity crunch, significant court case loss with likely wide reaching consequences and yet more illicit btc about to be dumped on the market. These things indicate people are selling off because there's no confidence in the market. I love the airdrops; like I remember saying on here before, I well remember when Apple used to give away iPhones to get people to use them. Or that time Nintendo started giving away its latest console to raise awareness. Just how tech goes, right? |
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Post by martinshrew on Nov 10, 2022 13:41:54 GMT 1
It gained 20% last week? You can put whatever metric you want, it's only a time period. Crypto is still in its infancy to be honest, it remains to be seen what happens. Put it this way, I'm glad I've got a chunk, and I've taken out far more than I've put in so the remainder is a free ride. Got the free FLR drop coming soon, 5,000 FLR! If that's the case, aren't you just drawing an arbitrary line at 90 days because you prefer that answer? XRP is down about 85 - 90% from its all time high. Btc now about 75%. That's shocking whichever way you cut it, especially as we were told these are "inflation hedges". I'm ultimately more interested in the circumstances surrounding these falls though; yet another major exchange going bankrupt through a liquidity crunch, significant court case loss with likely wide reaching consequences and yet more illicit btc about to be dumped on the market. These things indicate people are selling off because there's no confidence in the market. I love the airdrops; like I remember saying on here before, I well remember when Apple used to give away iPhones to get people to use them. Or that time Nintendo started giving away its latest console to raise awareness. Just how tech goes, right? I don't mind looking at all time, and drop from all time high, but looking at anything less than 7 days is crazy, 7 minutes can be a long time in crypto. I'm not pretending it'll solve all the world's problems, but I'm happy having a chunk and waiting to see. I'd rather be having a free ride than not, I'm well up in the bank and got a batch of crypto riding out long term. |
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Post by frankwellshrews on Nov 10, 2022 14:46:06 GMT 1
If that's the case, aren't you just drawing an arbitrary line at 90 days because you prefer that answer? XRP is down about 85 - 90% from its all time high. Btc now about 75%. That's shocking whichever way you cut it, especially as we were told these are "inflation hedges". I'm ultimately more interested in the circumstances surrounding these falls though; yet another major exchange going bankrupt through a liquidity crunch, significant court case loss with likely wide reaching consequences and yet more illicit btc about to be dumped on the market. These things indicate people are selling off because there's no confidence in the market. I love the airdrops; like I remember saying on here before, I well remember when Apple used to give away iPhones to get people to use them. Or that time Nintendo started giving away its latest console to raise awareness. Just how tech goes, right? I don't mind looking at all time, and drop from all time high, but looking at anything less than 7 days is crazy, 7 minutes can be a long time in crypto. I'm not pretending it'll solve all the world's problems, but I'm happy having a chunk and waiting to see. I'd rather be having a free ride than not, I'm well up in the bank and got a batch of crypto riding out long term. So FTX, LBRY, none of that concerns you? The other thing I think is interesting is the rates situation. Between 2008 and 2015, fed base rare was between 0 and 0.25%, raised briefly to 1.5% then back to nil in the pandemic. Similar in UK and eurozone. Inflation was low in developed economies during this time. This is the first time crypto has had to deal with a sustained rate increase/inflation scenario and it doesn't like it. Couple that with the failure to achieve anything of note, government interest in CBDCs and regulation and it doesn't look good but we'll see I guess. |
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Post by martinshrew on Nov 10, 2022 16:45:49 GMT 1
My watchlist in the last 90 days: Losers: Bitcoin $23k to $16k Ethereum $1.9k to $1.2k Cro $0.15 to $0.08 Sand $1.29 to $0.61 Mana $1.03 to $0.48 Sushi $1.50 to $1.14 Stagnant: Matic $0.9 to $0.92 XRP $0.37 to $0.36 Most have shaved a third up to half of their value in the last 90 days. XRP has remained reasonably stable along with Matic. Matic $0.9 to $1.09 XRP $0.37 to $0.39 Things change fast, surely proves my point? And your point the other way. |
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Post by frankwellshrews on Nov 10, 2022 17:08:01 GMT 1
My watchlist in the last 90 days: Losers: Bitcoin $23k to $16k Ethereum $1.9k to $1.2k Cro $0.15 to $0.08 Sand $1.29 to $0.61 Mana $1.03 to $0.48 Sushi $1.50 to $1.14 Stagnant: Matic $0.9 to $0.92 XRP $0.37 to $0.36 Most have shaved a third up to half of their value in the last 90 days. XRP has remained reasonably stable along with Matic. Matic $0.9 to $1.09 XRP $0.37 to $0.39 Things change fast, surely proves my point? And your point the other way. Proves there's a lot of people who think the bottom is in, nothing more. Over the last year, most cryptos have given up at least half of their value and we've seen multiple key players in the market go bust along with one of the top 10 cryptos collapsing overnight. The SEC has just won a case with possible major ramifications for the industry. Like I said before, that's what makes the price action lately interesting but I get a sense you don't really want to engage with things like that? |
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Post by martinshrew on Nov 10, 2022 17:41:02 GMT 1
Matic $0.9 to $1.09 XRP $0.37 to $0.39 Things change fast, surely proves my point? And your point the other way. Proves there's a lot of people who think the bottom is in, nothing more. Over the last year, most cryptos have given up at least half of their value and we've seen multiple key players in the market go bust along with one of the top 10 cryptos collapsing overnight. The SEC has just won a case with possible major ramifications for the industry. Like I said before, that's what makes the price action lately interesting but I get a sense you don't really want to engage with things like that? LBRY and XRP are so different it's like comparing apples with Brazil nuts. Exchanges go bang, it's irresponsible if not more, I don't understand how it continues to happen. Investors are always warned against holding crypto on exchanges, hot wallet worst case. I appreciate people viewing it negatively, I'm not daft, it's very volatile. It's not for the 55+'s looking to top of their pensions, it's for the younger or those with spare "willing to loose everything" cash. |
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