Bitcoin and crypto currencies

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Milo
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Re: The War Against the Dollar: the Alternative to SWIFT

Post by Milo » Sun Oct 21, 2018 8:58 pm

neverfail wrote:
Sun Oct 21, 2018 8:25 pm
Well, my country is not exactly lining up to join the Russian-Chinese "alternative". I cannot name too many others that would want to do so.
Two turkeys does not make an eagle.

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DavAdmin
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Re: The War Against the Dollar: the Alternative to SWIFT

Post by DavAdmin » Sun Oct 21, 2018 9:30 pm

Doc wrote:
Sun Oct 21, 2018 11:17 am
I don't understand the tech particularly well either. ATADMIN knows quite a bit about that. The overall system insure privacy until it is turned into something else like Fiat currency. All transactions are viewable by anyone however who made those transactions are unknown until converting to or from Crypto -currency.

In any event you can be sure that with or without swift, banking systems are completely transparent to multiple nations. With maybe exceptions like Iran that are cut off from the world banking system. But I wouldn't count on that. I really wouldn't. In the end VIA swift or any other system it will come down to a choice DO business with Iran or do business with the US.
SWIFT is painfully slow and expensive for cross-border payments, especially small ones. Cryptocurrencies, whether state backed or independent, will be the future of finance.

The banks hate them because they are a threat to the profit margins as banks make billions by charging people to move their money around.

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Doc
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Re: The War Against the Dollar: the Alternative to SWIFT

Post by Doc » Sun Oct 21, 2018 10:53 pm

DavAdmin wrote:
Sun Oct 21, 2018 9:30 pm
Doc wrote:
Sun Oct 21, 2018 11:17 am
I don't understand the tech particularly well either. ATADMIN knows quite a bit about that. The overall system insure privacy until it is turned into something else like Fiat currency. All transactions are viewable by anyone however who made those transactions are unknown until converting to or from Crypto -currency.

In any event you can be sure that with or without swift, banking systems are completely transparent to multiple nations. With maybe exceptions like Iran that are cut off from the world banking system. But I wouldn't count on that. I really wouldn't. In the end VIA swift or any other system it will come down to a choice DO business with Iran or do business with the US.
SWIFT is painfully slow and expensive for cross-border payments, especially small ones. Cryptocurrencies, whether state backed or independent, will be the future of finance.

The banks hate them because they are a threat to the profit margins as banks make billions by charging people to move their money around.
Tell me about it. But the banks are seemingly trying really hard to co-op Bitcoin. They have a huge amount of political pull.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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SteveFoerster
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Re: The War Against the Dollar: the Alternative to SWIFT

Post by SteveFoerster » Mon Oct 22, 2018 12:39 pm

Doc wrote:
Sun Oct 21, 2018 10:53 pm
DavAdmin wrote:
Sun Oct 21, 2018 9:30 pm
Doc wrote:
Sun Oct 21, 2018 11:17 am
I don't understand the tech particularly well either. ATADMIN knows quite a bit about that. The overall system insure privacy until it is turned into something else like Fiat currency. All transactions are viewable by anyone however who made those transactions are unknown until converting to or from Crypto -currency.

In any event you can be sure that with or without swift, banking systems are completely transparent to multiple nations. With maybe exceptions like Iran that are cut off from the world banking system. But I wouldn't count on that. I really wouldn't. In the end VIA swift or any other system it will come down to a choice DO business with Iran or do business with the US.
SWIFT is painfully slow and expensive for cross-border payments, especially small ones. Cryptocurrencies, whether state backed or independent, will be the future of finance.

The banks hate them because they are a threat to the profit margins as banks make billions by charging people to move their money around.
Tell me about it. But the banks are seemingly trying really hard to co-op Bitcoin. They have a huge amount of political pull.
They basically can't. But those who run the existing financial system can place barriers in between cryptocurrencies and exchange with conventional fiat currencies, which for many people is just as inconvenient.
Writer, technologist, educator, gadfly.
President of New World University: http://newworld.ac

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Doc
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Re: The War Against the Dollar: the Alternative to SWIFT

Post by Doc » Mon Oct 22, 2018 3:05 pm

SteveFoerster wrote:
Mon Oct 22, 2018 12:39 pm
Doc wrote:
Sun Oct 21, 2018 10:53 pm
DavAdmin wrote:
Sun Oct 21, 2018 9:30 pm
Doc wrote:
Sun Oct 21, 2018 11:17 am
I don't understand the tech particularly well either. ATADMIN knows quite a bit about that. The overall system insure privacy until it is turned into something else like Fiat currency. All transactions are viewable by anyone however who made those transactions are unknown until converting to or from Crypto -currency.

In any event you can be sure that with or without swift, banking systems are completely transparent to multiple nations. With maybe exceptions like Iran that are cut off from the world banking system. But I wouldn't count on that. I really wouldn't. In the end VIA swift or any other system it will come down to a choice DO business with Iran or do business with the US.
SWIFT is painfully slow and expensive for cross-border payments, especially small ones. Cryptocurrencies, whether state backed or independent, will be the future of finance.

The banks hate them because they are a threat to the profit margins as banks make billions by charging people to move their money around.
Tell me about it. But the banks are seemingly trying really hard to co-op Bitcoin. They have a huge amount of political pull.
They basically can't. But those who run the existing financial system can place barriers in between cryptocurrencies and exchange with conventional fiat currencies, which for many people is just as inconvenient.
Like "foreign currency" exchange rates?
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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DavAdmin
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Re: The War Against the Dollar: the Alternative to SWIFT

Post by DavAdmin » Mon Oct 22, 2018 6:51 pm

SteveFoerster wrote:
Mon Oct 22, 2018 12:39 pm
They basically can't. But those who run the existing financial system can place barriers in between cryptocurrencies and exchange with conventional fiat currencies, which for many people is just as inconvenient.
Cryptos are still nascent tech and the drawback is that they need to used centralized exchanges to transfer in and out of fiat. In a few years all exchanges will be decentralized and peer to peer and when more adoption occurs (you can actually buy stuff using crypto from your blockchain powered smartphone), the reliance on state and bank manipulated fiat currencies will fall.

Some counties are fully open to crypto-fiat trading: Japan, South Korea, UK, Australia, Switzerland, Singapore, Thailand.

Some are totally against it: China, India, Russia, Vietnam.

Some are still on the fence dithering around with what to regulate: US.

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SteveFoerster
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Re: Bitcoin and crypto currencies

Post by SteveFoerster » Thu Nov 22, 2018 3:13 pm

Here's an article from Asia Times that's about crypto and is set in the Caribbean, so it triply gets my attention. ;)

How ‘hippie king of crypto’ is helping restart Puerto Rico
http://www.atimes.com/article/how-hippy ... erto-rico/
Writer, technologist, educator, gadfly.
President of New World University: http://newworld.ac

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lzzrdgrrl
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Re: The War Against the Dollar: the Alternative to SWIFT

Post by lzzrdgrrl » Mon Dec 31, 2018 11:25 am

DavAdmin wrote:
Mon Oct 22, 2018 6:51 pm
SteveFoerster wrote:
Mon Oct 22, 2018 12:39 pm
They basically can't. But those who run the existing financial system can place barriers in between cryptocurrencies and exchange with conventional fiat currencies, which for many people is just as inconvenient.
Cryptos are still nascent tech and the drawback is that they need to used centralized exchanges to transfer in and out of fiat. In a few years all exchanges will be decentralized and peer to peer and when more adoption occurs (you can actually buy stuff using crypto from your blockchain powered smartphone), the reliance on state and bank manipulated fiat currencies will fall.

Some counties are fully open to crypto-fiat trading: Japan, South Korea, UK, Australia, Switzerland, Singapore, Thailand.

Some are totally against it: China, India, Russia, Vietnam.

Some are still on the fence dithering around with what to regulate: US.
My main, main guy put a twitter post up that caused me to think a bit and since he's a clinical psychologist, that's what prompted this concern with bitcoin and crypto currency.....

Banking as an institution rose in the 17th c. after the Thirty Years War along with the modern nation state and changed the very nature of the social hierarchical structure. IOW the fortunes and destinies of the traditional ruling classes were more closely tied to the interests, wealth and happiness of the rest of society, especially after the mercantile and industrial revolutions. Holding power meant holding responsibility which meant preserving a stable currency and promoting and defending good loan and borrowing practices and defending contracts. It also meant that excessive plundering of value and\through taxation could adversely affect the authority instigating such.......

Now we've seen that state entities have done between a mediocre and piss-poor job of regulating and exploiting their national currencies and banks, but it beats simply killing or enslaving people and stealing their shit which was common practice through most of human history. My concern with the rise of an independent commercial trading and banking entity, what will the state do and how will they respond? The state that's still responsible for the infrastructure, defense, law enforcement and general welfare of the population - many of which will either not have or refuse access to the blockchain......

Two impressions*, maybe couched in ignorance. The bubble nature of crypto will remain until the currencies involved take over some of the powers and responsibilites of global markets, banks and governments in punishing fraud and theft and shoring up value. In a real dark, dark, dark scenario, state entities deprived control of their currencies, banks and entitlement through borrowing and lending policies - may go back to killing and enslaving people and stealing their shit.....



* A third, crypto currencies should scare governments, global and national banks straight, FWIW.......'>.......
I have a certain notoriety among the lesser gods........

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lzzrdgrrl
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Re: Bitcoin and crypto currencies

Post by lzzrdgrrl » Tue Jan 01, 2019 11:06 am

The collapse of Patreon might prove beneficial to Bitcoin and other crypto currencies:
Given that a simple cryptocurrency address or QR code can essentially do Patreon’s job on its own, it’s easy to see it becoming one of those services very much disrupted by crypto in the near future. Even Patreon’s access tiers for various donation sizes could be replicated with a few well-placed smart contracts.
https://hacked.com/a-case-for-decentral ... wn-demise/
I have a certain notoriety among the lesser gods........

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Milo
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Re: The War Against the Dollar: the Alternative to SWIFT

Post by Milo » Wed Jan 02, 2019 8:10 am

lzzrdgrrl wrote:
Mon Dec 31, 2018 11:25 am
DavAdmin wrote:
Mon Oct 22, 2018 6:51 pm
SteveFoerster wrote:
Mon Oct 22, 2018 12:39 pm
They basically can't. But those who run the existing financial system can place barriers in between cryptocurrencies and exchange with conventional fiat currencies, which for many people is just as inconvenient.
Cryptos are still nascent tech and the drawback is that they need to used centralized exchanges to transfer in and out of fiat. In a few years all exchanges will be decentralized and peer to peer and when more adoption occurs (you can actually buy stuff using crypto from your blockchain powered smartphone), the reliance on state and bank manipulated fiat currencies will fall.

Some counties are fully open to crypto-fiat trading: Japan, South Korea, UK, Australia, Switzerland, Singapore, Thailand.

Some are totally against it: China, India, Russia, Vietnam.

Some are still on the fence dithering around with what to regulate: US.
My main, main guy put a twitter post up that caused me to think a bit and since he's a clinical psychologist, that's what prompted this concern with bitcoin and crypto currency.....

Banking as an institution rose in the 17th c. after the Thirty Years War along with the modern nation state and changed the very nature of the social hierarchical structure. IOW the fortunes and destinies of the traditional ruling classes were more closely tied to the interests, wealth and happiness of the rest of society, especially after the mercantile and industrial revolutions. Holding power meant holding responsibility which meant preserving a stable currency and promoting and defending good loan and borrowing practices and defending contracts. It also meant that excessive plundering of value and\through taxation could adversely affect the authority instigating such.......

Now we've seen that state entities have done between a mediocre and piss-poor job of regulating and exploiting their national currencies and banks, but it beats simply killing or enslaving people and stealing their shit which was common practice through most of human history. My concern with the rise of an independent commercial trading and banking entity, what will the state do and how will they respond? The state that's still responsible for the infrastructure, defense, law enforcement and general welfare of the population - many of which will either not have or refuse access to the blockchain......

Two impressions*, maybe couched in ignorance. The bubble nature of crypto will remain until the currencies involved take over some of the powers and responsibilites of global markets, banks and governments in punishing fraud and theft and shoring up value. In a real dark, dark, dark scenario, state entities deprived control of their currencies, banks and entitlement through borrowing and lending policies - may go back to killing and enslaving people and stealing their shit.....



* A third, crypto currencies should scare governments, global and national banks straight, FWIW.......'>.......
I'm sorry but any article that purports to examine pros and cons, which then list the cons as what will happen to people who don't buy into the concept being examined; is not a serious analysis, or even a lighthearted one!

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