#CBDC may be implemented with a quadratic saving mechanism:
“the more SerfCoin you have, the lower your interest rate, even going negative beyond a certain point.”
It looks similar to the quadratic staking mechanism implemented on the #Idena #blockchain 😄. #crypto
https://www.technocracy.news/bis-says-cbdc-roll-out-may-require-changing-the-constitution/
What does “similar efficacy” mean here?
This reinforces the case for the #Goldbacks. Why adopting a gold-backed currency (non-redeemable?) when you can just pay with #gold? I’m not even talking about #goldback vs. fiat… https://zerohedge.com/markets/gold-standard-back-brics-intro-gold-backed-reserve-currency
Although I have to admit this one is a stretch…
Damn! They really can’t help themselves… #Threads #Cult #Illuminati 
Immutable Vs. Perishable, the choice seems pretty obvious! #Bitcoin #CBDC #Crypto #ImmutableMoney #PerishableMoney https://www.technocracy.news/cbdcs-expiration-dates-restrictions-on-spending-for-social-engineering/
Have you ever seen a driverless unicorn 🦄? This is genius 😂! #SanFrancisco #AI #Unicorn #DriverlessCar https://zerohedge.com/technology/driverless-cars-hit-coning-incidents-san-francisco-group-rebels
I’d like to see better easier options for non-custodial wallets with #lightning but I doubt we’ll see improvements that are good enough to onboard a majority of lightning users on non-custodial wallets. I need to look more into ASPs/Ark.
Here is a good summary of the different Proof-of-Personhood #blockchain for identity verification. It’s a bit bias because written by the Humanode team but accurate overall. https://medium.com/paradigm-research/revolutionizing-identity-verification-an-introduction-to-proof-of-personhood-pop-protocols-9c318b7e9eca
I’m not sure about ASPs but my biggest concern with #lightning is that if you use a custodial wallet (which most people do) you should have no expectation of privacy (because of the source routing). Now, it’s fine if you don’t care about privacy but I hear a lot of folks saying that lightning is private which seems like a misconception.
Blockchain and Web 3.0 Solutions: Idena.io and humanode.io are the two leading blockchains in the decentralized identity use case. Idena is personhood verification is presence-based, Humanode is biometrics-based.
I'm not at all surprised that authoritarian politicians would want features like this. From a technical perspective, though, I'm curious about how they would go about implementing them. Would they integrate backdoors into widely used apps with camera access, like WhatsApp? Or would they rely on exploiting zero-day vulnerabilities in operating systems?
https://gizmodo.com/france-bill-allows-police-access-phones-camera-gps-1850609772
That’s also a question have 🤔
How to make #Goldbacks viral?
Simply ask your waitress if she’d prefer to receive her $10 tip in paper or in #gold.
Place the banknotes and goldbacks side by side on the table.
Show her how beautiful and shinny a #goldback is.
Say again: “Would you like your tip in paper or in gold?”
Which pile do you think she’d choose?
The biggest risk to #Bitcoin that I see with the arrival the #BlackRock ETF is the possibility for BlackRock to influence the outcome of a fork on which side gets to keep the #BTC branding.
It’s undeniable that BlackRock is likely to become one of the largest holder of bitcoins over time. Technically, #crypto exchanges are the ones who get to decide which side gets to keep the #BTC branding during contentious forks. So far, they’ve always assigned the original ticker to whichever side gets the most hash power. That said, if the hash power were to be split evenly exchanges could be in disagreement.
This is highly speculative and hard to pull off but in a scenario of a contentious fork, it’s possible that BlackRock could influence #Coinbase on which side gets the BTC ticker. Considering the size of Coinbase, this could trickle down to other exchanges following this decision. I could also see many other exchanges disagreeing with this decision and assigning the BBR ticker (for Bitcoin BlackRock) to the side supported by BlackRock.
What would need to happen for this scenario to play out?
1) A significant share of BTC held in the BlackRock ETF
2) A controversial fork proposal
3) A contested mining war
I don’t see 2) and 3) as likely but 1) certainly is which open the door to 2) and 3) through manipulation and deception.
Any thoughts?
By the way if you’re interested in a deep dive on debunking #Monero critics (such as “the supply of Monero can’t be audited”), I recommend this debate between Seth and Giacomo. Here is part 1 of 3. https://odysee.com/@MoneroTalk:8/a-thorough-critique-of-monero-with:3
I understand your point about transparency that said the supply of #Monero is cryptographically verifiable. I think it’s very difficult for an average user to use transparent cryptos in a private manner. Most people wouldn’t feel comfortable transacting #crypto in-person if they can’t keep their balance and transaction history private from others.
What I like about #Goldbacks is that it’s a product if a high vitality potential. You can tip businesses and musicians with 1 #goldback ($4) without them needing to have any kind of knowledge about goldbacks. Unfortunately, you can’t do this with #crypto. Businesses would need to have an account and advertise to you that they are accepting cryptos. Every goldback tip will convert more people to this product. IMO, that’s the reason why goldbacks are set to increasingly gain in adoption.
"The premiums on #goldbacks are too high!"
I wish I had a goldback for everytime I heard that :)
But are the premiums actually "too high?"
Goldback.com wrote an excellent article earlier this year that explained goldback premiums.
An excerpt:
We actually argue that Goldbacks are inexpensive for what they really are because the added utility value doesn’t go away, it appreciates too. Goldbacks can be bought and traded for around $4. If the concept of adding value to materials through labor is difficult to grasp then imagine trying to buy a new vehicle for melt value or a pencil for the direct fractional value of lumber and graphite per ton. (Pencils carry about a 10,000% premium)
A pencil has more utility per weight than a giant felled log. A car has more utility than a hunk of metal. A thousand individual goldbacks have far more utility than a single gold coin, especially if you ever plan to barter or trade with your metal. Who wouldn’t rather be able to trade a thousand times for small items vs. just once for something expensive? We aren’t even getting into the fact that Goldbacks have never been counterfeited, the same can’t be said for coins. Goldbacks cost more because they are worth more.
The market agrees. Commodity money in the form of Goldbacks is becoming quite popular as the Goldback has already proven to be more successful than any other local currency project in the history of the United States. At the time of writing there are an estimated 1,000,000 users of Goldbacks. It turns out that sound money is popular.
As far as we can tell, much of the opposition to Goldbacks really comes from two groups;
Bullion customers that have been taught for decades to buy gold as close to spot as possible. The Goldback is new and draws their skepticism.
Coin dealers that have been selling the same products for over forty years and aren’t interested in branching out. The Goldback is inherently threatening to them because they don’t understand it and they don’t want to lose customers. (They could apply to retail Goldbacks by emailing us at info@Goldback.com at any time)
It’s somewhat ironic that these two groups are opposed to an otherwise successful sound money project. This situation isn’t that bad though. As it stands, there simply haven’t been enough Goldbacks to meet market demand as it is, so this type of opposition is healthy even if it is somewhat misguided. We’ll win most of them over eventually. We’ve already had several dozen coins dealers begin selling Goldbacks that adamantly opposed them at first. In Wyoming every single coin dealer signed on to sell the Goldback before the Wyoming launch. Many ideas take time to digest and it’s no different for the Goldback.
Read it all here:
https://www.goldback.com/news/whats-in-store-for-goldback-premiums
When you buy #Goldbacks, you’re not buying #gold. You’re buying spendable gold. The #goldback premium is a function of speculation on future adoption. Even if the premium seems high today, it could keep rising. It could even rise at a higher rate than the price of spot gold.