Coming ESG, Fedcoin and Caution

originally posted by: AugustusMasonicus

originally posted by: SleeperHasAwakened
The question in my mind is how are they going to wind down the paper currency. They are already taking physical coins out of circulation, and blaming coin shortages on "the pandemic". Probably they will find some other excuse to do the same with bills (e.g. engineer a paper shortage).

Despite the hair on fire sky screaming this isn't happening overnight and they know they can't make it happen overnight. I don't think you'll see a Beta USDC implementation prior to 2030, paper money will be around for several more decades at least.

The other question is, what will happen with the other cryptocurrencies that are competing with a potential CBDC.

Examples? Because I haven't seen one crypto that is a viable currency able to compete on both the front and back end of payments/settlements or able to eventually compete with a USDC that's capable of processing trillions of transactions.

I'm assuming the so-called "stable coins" would be the only competition to a CBDC. Everything else is just way too volatile, and is basically an investment instrument, not a a currency. Also many of the cryptos still cannot scale anywhere near transaction settlement rates we see for CCs today, because it turns out decentralized, distributed transaction ledgers are not easy to implement efficiently.

I am not privy to the requirements you are, but I'm assuming that Fedcoin can work without having to manage an ever-growing blockchain that has to be synchronized globally, and updated and copied around by many different participants/miners.

originally posted by: SleeperHasAwakened
a reply to: ManBehindTheMask

This link lands on a page at the Federal Reserve site that offers the public a chance to send comments to Fed regarding their concept of a Central Bank Digital Currency. See the "Submit Feedback" button at the bottom of the page.

So it should be possible to send criticisms and concerns to the people who are proposing the Fedcoin, but whether or not they are actually going to read and respond to public comments is dubious.

Article I, Section 8, Clause 5.

There's my criticism. End the Fed.

originally posted by: AugustusMasonicus
a reply to: ManBehindTheMask

Frankly, if you're not a tax cheat...

WTF kind of pre-requisite is that?

originally posted by: MykeNukem

originally posted by: AugustusMasonicus
a reply to: ManBehindTheMask

Frankly, if you're not a tax cheat...

WTF kind of pre-requisite is that?

The same sort of prerequisite that "they" get to define, but dont worry theyll be TOTALLY honest on if youre a "cheat" or not........sort of like "Well if youre not a criminal then you shouldnt be worried about the gov spying on you"


But some people will never learn, and even more will just keep pushing the narrative

originally posted by: ManBehindTheMask

originally posted by: MykeNukem

originally posted by: AugustusMasonicus
a reply to: ManBehindTheMask

Frankly, if you're not a tax cheat...

WTF kind of pre-requisite is that?

The same sort of prerequisite that "they" get to define, but dont worry theyll be TOTALLY honest on if youre a "cheat" or not........sort of like "Well if youre not a criminal then you shouldnt be worried about the gov spying on you"


But some people will never learn, and even more will just keep pushing the narrative

I was joking, but I DO see your point and agree completely.

I don't want their hands on my f'n money or privacy (kinda late but y'now), that's for sure.

The ESG appears to be a tool that deceivers can use to make them look better. A way of increasing their business by donating to causes they created and or have influence over to make them look like they care. A person who does real good does not do it to gain prestige or wealth. They do it to be good. You do not give people who don't know how to work money to survive, you teach them to work a job to survive with a wage that can accomplish that. The more risk to the job the more you should earn...there is no way that a person working at McDs should make as much as a person working in a mine or roofing houses. Those business execs are way overpaid for what they actually do. A person gaining wealth profiting by investing in a company that puts on an act of being nice and switching away from heating with gas should not be considered better. Their office buildings will probably still leak heat like a seive and be pretty while a small company without windows everywhere will be said to be bad.

We live in a world where the deceivers reign, where the person who loves and respects nature is looked at as inferior. The golf courses are green...so belonging to one will be considered a plus on your score I suppose, and if your company invests in green technology, their flights to go to other countries to check on their investments in green every week will be considered good, but flying to your parents funerals will give you a worse score.

I have been around for many years now observing what people say, finally after I have evaluated all the lie tactics and how they justify their beliefs to make themselves look superior........, I am saying things about what I have learned being a listener.

originally posted by: SleeperHasAwakened
I'm assuming the so-called "stable coins" would be the only competition to a CBDC.

From what I've seen none of them are able to demonstrate the correct amount of reserves on hand to cover the volatility.

I am not privy to the requirements you are, but I'm assuming that Fedcoin can work without having to manage an ever-growing blockchain that has to be synchronized globally, and updated and copied around by many different participants/miners.

Yes, that's in the whitepaper.

originally posted by: MykeNukem
WTF kind of pre-requisite is that?

Because of the ledger. We know people pay cash now to avoid taxes, that's why I brought it up.

originally posted by: AugustusMasonicus

originally posted by: MykeNukem
WTF kind of pre-requisite is that?

Because of the ledger. We know people pay cash now to avoid taxes, that's why I brought it up.

I know bro..I was just joking.

I'm a cash guy too *wink

Npw that the travel mandates will be lifted...let me know if ya need a backyard cook center....cash only...I recommend split granite for Jersey.

I'll just leave this here ......

originally posted by: Ravenwatcher
I'll just leave this here ......

EXACTLY

a reply to: ManBehindTheMask

Been in a credit union for years. Always have cash stashed away. Just in case.

originally posted by: MykeNukem
Npw that the travel mandates will be lifted...let me know if ya need a backyard cook center....cash only...I recommend split granite for Jersey.

Pizza oven, since I saw you mention that. I'd pay you in dollars too, not loonies.

originally posted by: AugustusMasonicus

originally posted by: MykeNukem
Npw that the travel mandates will be lifted...let me know if ya need a backyard cook center....cash only...I recommend split granite for Jersey.

Pizza oven, since I saw you mention that. I'd pay you in dollars too, not loonies.

Not even joking sounds good. We can hook that up.

I'd do it just for the story to tell, and to meet ya, minus materials.

Or, I can also ship it to you (you can imagine the shipping cost of masonry), but as I'm sure you know that takes some muscle (backyard crane) to set up. Though, some people like that option if they have their own labourers or brother-in-law available, lol.

Takes four sturdy dudes to pick up.

Let me know any time, I mean that.

BOT: cash is King.

So what are the drug cartels and three letter agencies with side gigs planning to use in place of paper cash?
Soros gift cards?

Just so everyone knows the reality of all this, Augustus truly knows the backend of fedcoin as he states. regardless of how you like or dislike his posts, he has solid information on that, info that most won't get for a long time after things happen, so please take all that for what it's worth.

As for the social credit score business, watch all that closely, and don't discount anyone's info until you have verified it several places. The OP has a history of being a solid member as well, without needless bullsh!t.

Point is, know who you can trust and why. I'm nobody, so don't trust me, but verify what is being said before you dismiss it out of hand. We are quite lucky to have the group we have here for many reasons.

Happy Friday eve all, and remember, now is a perfect time to buy a fat guy a beer. that is all, lots of love to all.

originally posted by: starshift
So what are the drug cartels and three letter agencies with side gigs planning to use in place of paper cash?
Soros gift cards?

Theyll use the currency that they can get away with like they do everything else....

originally posted by: network dude
Just so everyone knows the reality of all this, Augustus truly knows the backend of fedcoin as he states. regardless of how you like or dislike his posts, he has solid information on that, info that most won't get for a long time after things happen, so please take all that for what it's worth.

As for the social credit score business, watch all that closely, and don't discount anyone's info until you have verified it several places. The OP has a history of being a solid member as well, without needless bullsh!t.

Point is, know who you can trust and why. I'm nobody, so don't trust me, but verify what is being said before you dismiss it out of hand. We are quite lucky to have the group we have here for many reasons.

Happy Friday eve all, and remember, now is a perfect time to buy a fat guy a beer. that is all, lots of love to all.

I appreciate that very much, I try to be at least consistent and not TOO Far out in left , or right , field......I appreciate your words

And very much im not asking people to just believe, me, this post was meant for them to take the information and go start learning and researching on their own!

The truth will always come to light, whether I am or not lol

originally posted by: network dude
Happy Friday eve all, and remember, now is a perfect time to buy a fat guy a beer. that is all, lots of love to all.

Uhh....Is someone going to tell him, or do I have to?

lol

What a joke
Outside the Internet I know 1 person out of dozens who has crypto. Nobody wants it. Everyone I know that was vaccinated, not one of them are happy nor willing sheep , but plenty worried and concerned.

Be honest, they don't control you. And the opinion of the people on internet is vastly different than reality.Its as if ,,,, The curtain is failing, & we are about to see the Wizard.