Ukraine Hoax Is Being Used To Usher In Digital Currency

a reply to: AugustusMasonicus

My pals??

Dems fightin words Auggie!

TPS. Transactions per second and blocksize, that is the amount of information contained within each block on the blockchain.

I never asked but is Fedcoin a blockchain? Im assuming its a database but havent dug much into it.

Regardless, thats when you start getting into the nitty gritty. Currencies as an instrument of the state vs private ownership of the asset and store of value. What consensus is used and who/how that info is kept.

a reply to: MykeNukem

Who?

How?

You saw how effective it was (and drove the govt crazy) recently in Canada.

a reply to: JinMI

This is the MIT white paper on the subject. Might be boring for someone who isn't into to the topic but it is informative.

originally posted by: AugustusMasonicus

originally posted by: MykeNukem
That makes me lean towards they'll ban de-centralized crypto altogether at some point.

I think regulations will impact it but it will never be a viable currency. You're going up against all the largest banks and payment schemes on the planet, they aren't giving that up but I do have to tell you that a digital dollar limits what, if anything, they can take in a transaction, particularly if it is P2P and instant. There's no middle person(s) like with a credit card.

I'm going to have to research it more. I spent too much time on deFi.

I'm curious about the P2P aspect. They must use secure signing certificates or hashes or something. I'll look into it, don't expect you to explain it, lol.

ETA: just noticed the white paper.

originally posted by: JinMI
a reply to: MykeNukem

Who?

How?

You saw how effective it was (and drove the govt crazy) recently in Canada.

Yes and all of those wallet addresses were seized and frozen by the government somehow. Not even sure how they do that, but they did.

That just shows how vulnerable even the "gold" standard cryptos are to governments.

Mind you, maybe they shouldn't have posted the addresses everywhere, lol.

a reply to: MykeNukem

If they were seized they were seized at the on/off ramp via KYC at an exchange.

Wallets arent difficult to track but require some information to find. AI makes this process very quick.

They don't need a pseudo-war to usher in a digital currency. All in my humble opinion, of course. We already have it.

It's already here and has been used by almost everyone with a bank account. Your money is already digital. Direct deposit, credit card balances, debit card transactions, paychecks, etc. All of these items are non-tangible if you never receive the cash out.

They don't need to usher in anything. You will already be using their new system because you have already been conditioned into using it without a fight.

People rarely use cash today. It's probably a fraction of a percent compared to even 10 years ago. Everything is credit/debt based and you can't even cash a paycheck without a bank account (or paying a fee at a grocery store).

This all by design.
Slow and deliberate.

There won't even be a backlash. It will be business as usual while citizens realize they can't live their lives without digital currency and a bank account. Won't be able to pay bills, taxes, or buy and sell.

Only an act of Congress can rid the Constitution of their duties to coin currency.

And that's just a matter of time.
CBDC's? Absolutely.

a reply to: Wisenox

Fedcoin? The U.S. central bank is looking into it

www.reuters.com...

The Fed is developing its own round-the-clock real-time payments and settlement service and is currently reviewing 200 comment letters submitted late last year about the proposed service’s design and scope, Brainard said.

But the Fed is also, she said, “conducting research and experimentation related to distributed ledger technologies and their potential use case for digital currencies, including the potential for a CBDC (central bank digital currency).”

Dozens of central banks globally are also doing such work, a recent international study showed, with China moving ahead on plans to issue a digital coin.

Our economy right now is sort of a giant ponzi scheme and will not last forever regardless of what else happens, digital or otherwise. We built enormous wealth on credit, which has become a credit crisis. The sad truth is you can not solve a credit problem with more credit. The only thing that is being done about it is the fed is constantly pumping more and more currency into the system to keep it afloat. That cant last.

The only thing that makes the dollar worth anything at all is the belief that it will continue to be worth something in the future. It has nothing backing it except for faith in its future value. If enough nations decide one day that the dollar is no longer viable it will simply cease to exist. Even now, it only exists on pieces of paper and in the minds of those who hold that paper in hopes that it has buying power. What will inevitably happen is similar to Weimar Germany. We will go to bed one night with $10,000 US Dollars in the bank and wake up with $1,000 Uncle Sams, or whatever they will be called.

The idea of digital currency makes the above scenario even more real. Its easier than printing fiat currency and is no more or less real in terms of value. It will have value because people believe it will. Shiba Inu is a perfect example. Its only real value is the belief people have in the idea that tomorrow more people will believe than today. That is a dangerous way to manage a nations financial health and stability.

originally posted by: AugustusMasonicus
a reply to: JinMI

This is the MIT white paper on the subject. Might be boring for someone who isn't into to the topic but it is informative.

Shard + raft = Shaft!?

shaft like shafted???

replicated = replicants like reptilians???

sentinals??? Watchtower??? Like the elite?

This thing is def a new one world elite reptilian game plan to shaft the poor!

hahahahahaha

a reply to: havok

And you pretend you dont. For big man points? Do you look the part? Like all naked with a loincloth?

Look, theres extremists on this message board, ones who assume if you buy a burger with a card you're the devil.

originally posted by: AugustusMasonicus
a reply to: MykeNukem

You're non-expert assessment is pretty close to the reality. But it's also merchants, payments processors, issuing/acquiring banks and retailers. These are also all the same groups that want Digital ID to go along with this.

On your edit, MIT has already put together some prototype instant payment digital currencies for the Fed, they will not be using or rolling existing cryptos into the scheme.

I don't own any, nor have any desire to own, digital currencies...but given all your experience and knowledge about the subject...I do trade stocks. How would this play out for people like me? IF I still own stocks around the time this happens...will all the stocks be worthless? would they convert to digital? would you have any idea? Thanks in advance!

Speaking of on off. Do you foresee a digital currency being vulnerable to getting switched on and off to more easily keep individuals in line?

a reply to: JinMI

I personally think money is just a way to take a cut of the product between the customer and the supplier and is incapable of being anything else.

Am I remiss in thinking this way?

originally posted by: AugustusMasonicus
a reply to: nugget1

The Boston Fed representative was here today and covered this in depth. It's still in the work up stage and input is still being gathered. I would think an actual timeline for when you might see it is closer to the end of the decade but it is coming.

All the things I've read say they want it implemented by 2030. I guess I'll be missing the big Big Reveal, if that's the case.

a reply to: nugget1

can't believe the US isn't bordering bankruptcy

The bankruptcy part is what worries me, because they can start calling for austerity measures and simply confiscate wealth.

a reply to: MykeNukem

You have a good point, the CBDC is what they want. Biden told the DOJ to investigate digital currencies for illicit use a while back. They were/are trying to destroy the other digital currencies.

originally posted by: visitedbythem
Dont worry! When they crash the Dollar, and all other currencies, they will have a brand new digital currency ready for you in no time. It will work great too! With a built in auto tax on every transaction.

It'll be just like Operation Warp Speed. They were able to get 70% of the entire Western society population base to agree to becoming a lab rat in less than a year based on 6 months of development and 2 months of fixed trials. Getting that same population base to accept one Fedcoin, or EUcoin, for every US/EU dollar will be 10 times easier. And the Fedcoin/EUcoin will be just as future proof as the lab rat jabs.

a reply to: infolurker

From the article you link to:

Less than two years ago Brainard told a conference in San Francisco that there is “no compelling demonstrated need” for such a coin.
But that was before the scope of Facebook’s digital currency ambitions were widely known. Fed officials, including Brainard, have raised concerns about consumer protections and data and privacy threats that could be posed by a currency that could come into use by the third of the world’s population that have Facebook accounts.
At Wednesday’s conference, Brainard said the Facebook Libra project “imparted urgency” to the conversation around digital currencies.

Facebook imparted urgency? Somehow, I don't believe that Facebook was acting alone. This looks like another one of their self-mandates.
Similar to the way that Facebook and Google lie about users demanding they stop hate speech.
I heard that Facebook was started with $13 million from the CIA. If true, it would explain how Facebook is conveniently there to create urgency just when they need an excuse.

originally posted by: MykeNukem
I'm curious about the P2P aspect. They must use secure signing certificates or hashes or something.

Yeah, it's hashes, kernels and other PCI/PII data protection. P2P is the one area the Fed really needed to explore as a use case because of apps like Venmo where people want to be able to make payments quickly and simply. With a digital dollar you may even see a decrease in fees if free to use software is released which I think it will be. So long as it's ISO compliant it wouldn't be an issue.

originally posted by: TheAlleghenyGentleman
This thing is def a new one world elite reptilian game plan to shaft the poor!

Th Atomizer will be deployed on you.