Wondering if the miner-flippers, those who sell immediately, will also have a positive impact as they will have 1/2 the "supply" to dump on the market. Not sure how to calculate this exactly, but as long as price holds would guess this to be a net positive.
Any thoughts on below?
FBDs (Financially Backed Blockchain Deposits) a way to tap into the growing market of cryptocurrency holders and provide a more secure way for these holders to store their funds.
Problem:
The rise of cryptocurrency has presented a challenge to traditional banks, which have been slow to adopt this new technology. However, there are opportunities for banks to benefit from cryptocurrency, such as by offering interest-bearing crypto accounts or by using blockchain technology to streamline their processes.
Solution:
FBDs would allow Banks to accept cryptocurrency deposits in a secure and compliant manner. FBDs would be securitized and serve as customer deposits like traditional cash. This could be accomplished through smart contracts on blockchains such as BitcoinPoW or EthereumPoS just to name a few.
Benefits:
The adoption of FBDs by Banks would have a number of benefits, including:
Increased customer satisfaction: Customers would be able to store their cryptocurrency in a more secure way, while also earning interest on their deposits.
Helping traditional crypto customers retain self custody: FBDs would allow traditional crypto customers to retain self custody of their cryptocurrency while also partnering with a traditional financial institution. This would provide customers with the best of both worlds: the security and compliance of a traditional bank, with the flexibility and control of self custody.
Increased regulatory oversight: As a regulated financial institution, would be subject to regulatory oversight, which would help to protect customers and the financial system.
Increased deposits for potential capital requirements: FBDs would count as customer deposits for regulatory capital purposes, which could help to meet its capital requirements.
Potential FDIC deposit protections for consumers: If FBDs were approved by the FDIC, they could be eligible for FDIC deposit insurance, which would provide additional protection for consumers.
Potential interest bearing accounts for investors: If FBDs were collateralized or securitized for mutually staked earnings, they could be offered as interest-bearing accounts to investors.
Implementation Plan:
The implementation plan for FBDs would be as follows:
Develop the FBDs smart contract and test it on a testnet.
Launch the FBDs smart contract on a mainnet.
Market FBDs to cryptocurrency holders and traditional bank customers.
Maintain account ledger and develop enhanced security and value add for Customers.
Regulatory Challenges:
There are regulatory challenges associated with this project. However, these challenges can be overcome by working with regulatory bodies through transparent review, challenge and approval processes.
Dire Need:
The cryptocurrency market is growing rapidly and traditional banks are missing out on this opportunity. FBDs would allow banks to tap into this market and provide their customers with a secure and compliant way to store their cryptocurrency.
Low Verifiability < High Verifiability
The Price to Pay for the Freedom of Speech should be your attention on it's verifiable History!
That's not true on Plebstr, as it had a standard "who to follow" during setup.
Thoughts on:
FBDs (Financially Backed Blockchain Deposits) a way to tap into the growing market of cryptocurrency holders and provide a more secure way for these holders to store their funds.
Problem:
The rise of cryptocurrency has presented a challenge to traditional banks, which have been slow to adopt this new technology. However, there are opportunities for banks to benefit from cryptocurrency, such as by offering interest-bearing crypto accounts or by using blockchain technology to streamline their processes.
Solution:
FBDs would allow Banks to accept cryptocurrency deposits in a secure and compliant manner. FBDs would be securitized and serve as customer deposits like traditional cash. This could be accomplished through smart contracts on blockchains such as BitcoinPoW or EthereumPoS just to name a few.
Benefits:
The adoption of FBDs by Banks would have a number of benefits, including:
Increased customer satisfaction: Customers would be able to store their cryptocurrency in a more secure way, while also earning interest on their deposits.
Helping traditional crypto customers retain self custody: FBDs would allow traditional crypto customers to retain self custody of their cryptocurrency while also partnering with a traditional financial institution. This would provide customers with the best of both worlds: the security and compliance of a traditional bank, with the flexibility and control of self custody.
Increased regulatory oversight: As a regulated financial institution, would be subject to regulatory oversight, which would help to protect customers and the financial system.
Increased deposits for potential capital requirements: FBDs would count as customer deposits for regulatory capital purposes, which could help to meet its capital requirements.
Potential FDIC deposit protections for consumers: If FBDs were approved by the FDIC, they could be eligible for FDIC deposit insurance, which would provide additional protection for consumers.
Potential interest bearing accounts for investors: If FBDs were collateralized or securitized for mutually staked earnings, they could be offered as interest-bearing accounts to investors.
Implementation Plan:
The implementation plan for FBDs would be as follows:
Develop the FBDs smart contract and test it on a testnet.
Launch the FBDs smart contract on a mainnet.
Market FBDs to cryptocurrency holders and traditional bank customers.
Maintain account ledger and develop enhanced security and value add for Customers.
Regulatory Challenges:
There are regulatory challenges associated with this project. However, these challenges can be overcome by working with regulatory bodies through transparent review, challenge and approval processes.
Dire Need:
The cryptocurrency market is growing rapidly and traditional banks are missing out on this opportunity. FBDs would allow banks to tap into this market and provide their customers with a secure and compliant way to store their cryptocurrency.
Oh, Bitcoin, thou art a fickle thing,
A mystery to all but those who cling
To thy code, thy blockchain, thy white paper.
Thou art a panacea, a cure-all,
A way to break free from the chains of Wall Street,
The Federal Reserve, and the fiat system.
Yet thou art also a curse, a siren song,
A trap for the foolish and the greedy.
Thou hast brought ruin to many, and thou wilt bring ruin to more.
So be warned, those who would embrace thee:
Bitcoin is a double-edged sword.
It can be a tool for liberation,
or a tool for destruction.
Unlike AI - The choice is yours.
Then Direct Deposit
is the gateway drug
Watching your 401k tank
2 years from retirement
is the delirium tremens
SEC Tells Coinbase: Everything Except for #Bitcoin is a Security - Delist Them ALL‼️
MORE: 👇👇👇
https://bitcoinarchive.co/sec-delist-everything-except-for-bitcoin/
Wouldn't that just end up being Coinbase selling BTC to MicroStrategy once a month.
No profitably model there I'd want to develop...
Scenario 1:
That governments could outlaw is a valid concern, as governments have a history of trying to control or ban new technologies that they see as a threat. However, it is also important to remember that Bitcoin is a decentralized currency, which means that it is not controlled by any single entity. This makes it difficult for governments to outlaw Bitcoin completely. Even if governments were to ban Bitcoin, it is likely that it would still exist in the black market. Governments could issue their own digital currencies is also a valid concern, as governments could use their own digital currencies to compete with Bitcoin. However, there are a number of reasons why government-issued digital currencies may not be as successful as Bitcoin. For example, government-issued digital currencies would likely be subject to government control, which could make them less attractive to users who value privacy and freedom.
Scenario 2:
Quantum computing could threaten Bitcoin's security is a valid concern, as quantum computers could theoretically be used to break Bitcoin's encryption. However, it is important to remember that quantum computers are still in their early stages of development. It is not clear when, or even if, quantum computers will be powerful enough to break Bitcoin's encryption. In the meantime, Bitcoin developers are working on ways to make Bitcoin more secure against quantum attacks.
In urgency's grip, we run from grace,
As if the present holds no saving face.
We seek the future, sure to come,
Where all our dreams will be made true.
But in our haste, we miss the sweet,
The simple joys that life doth meet.
We long for what is yet to be,
And lose the bliss that's right before us.
So slow your pace and take a breath.
The future will not leave you bereft.
The present moment holds all you need,
So let go of what you think you should.
Trust in the grace that's all around,
And let your heart be filled with sound.
The joy of life is here today,
So don't let urgency get in your way.
What do you think will launch DeFi music or gaming? Thinking back to the internet days music really drove PC adoption then led to more gaming, but it was the music.
So nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx gave an absolute masterclass on the problems with Musk's current Twitter approach on WBD, starting at the 17m mark. It's a great advertisement for Nostr and I recommend everyone watch it.
https://www.youtube.com/watch?v=-Ms-dE6aasA
I've been retweeting or reposting Odell's various observations on this topic for a while and so I'm happy to share this too, including on Twitter today, even as a filthy blue-check myself.
Where I disagree with Odell (slightly) is on tactics. He thinks people should give up blue checks in protest. And that's a very fair position. I don't disagree, especially for someone like Odell with a purist position and a generally cypherpunk audience.
But I think there are multiple successful paths on this. I have always been a Twitter fan, and my normie audience is there. I wanted to be able to pay for better UX and anti-impersonation defenses for years before they became available. Just because Musk is running it doesn't mean I won't pay for helpful services, especially if they protect my audience. Real people lose money to Lyn Alden impersonation scams if they can't tell my account from others, and I directly hear from them when it happens. It's always heartbreaking.
So, I'm on the offensive, not the defensive. The way I view it, unless or until someone censors me on Twitter, they're locked in there with me, rather than me being locked in there with them. If having a blue check reduces the success rate of impersonation scams and amplifies my reach at calling out Twitter's problems, I'll have the blue check. What I absolutely *won't* do is change what I say based on a blue check. If anything, I purposely overdo it to the opposite and exaggerate my criticisms on purpose to push back against platform incentives.
Two simultaneous approaches:
1) Call out the problem on Twitter. Don't give Musk a pass. Point out that a pro-freedom, pro-anonymity view doesn't match with what is going on there. Don't let his rhetoric disguise his inaction. If Twitter cares about freedom and anonymity then they will offer a paid option that doesn't require identity (e.g. the "orange check" bitcoin payment.) Until something like that, they are LARPing and are fair to criticize as such.
2) Have your foot here on Nostr and on decentralization technologies generally. In the long run, I think this is the future. And more importantly, I hope it is.
Saw your post on Twitter and made me want to dust off my Plebstr account, we do need to try harder to build our own communities instead of waiting for corporations to build it for us
There are a number of potential solutions to the problem of influencer engagement towards children and the warped effects on psychological views on true happiness and success. Some of these solutions include:
Educating parents and children about the potential risks of influencer marketing.
Parents should talk to their children about the fact that influencers are often paid to promote products, and that they should not always believe everything they see or hear from influencers. Children should also be taught to be critical consumers of media, and to be aware of the ways in which influencers can manipulate their emotions and behaviors.
Requiring influencers to disclose when they are being paid to promote a product.
This would help children to understand that the influencer is not simply giving their honest opinion about a product, but is actually being compensated to promote it.
Regulating the use of influencers in advertising to children.
Governments could introduce laws that limit the amount of time that children are exposed to influencer marketing, or that require influencers to meet certain standards before they are allowed to promote products to children.
Developing more positive role models for children.
There are a number of organizations that are working to develop more positive role models for children, such as the Geena Davis Institute on Gender in Media. These organizations are working to create more diverse and inclusive representations of women and girls in the media, and to promote positive messages about body image, self-esteem, and success.
It is important to note that there is no single solution to this problem. The best approach will likely involve a combination of different strategies. However, by taking steps to educate parents and children, to regulate influencer marketing, and to develop more positive role models, we can help to protect children from the harmful effects of influencer engagement.
In addition to the above, here are some other things that parents can do to help protect their children from the negative effects of influencer engagement:
Talk to your children about the importance of being authentic and true to themselves.
Help them to understand that they don't need to look or act like the influencers they see online in order to be happy and successful.
Encourage your children to spend time with friends and family, and to participate in activities that they enjoy.
This will help them to develop a strong sense of self-worth and to build positive relationships.
Set a good example for your children.
Be mindful of the way that you use social media, and make sure that you are modeling healthy behaviors.
By taking these steps, parents can help their children to develop a healthy relationship with social media and to avoid the negative effects of influencer engagement.
If you are a true advocate for digital privacy,
what are you doing to protect your eMail?
eMail client usage in March 2023
Apple 59.81%
Gmail 27.21%
Microsoft 4.42%
Not your KEYS - Not your EMAIL
@skiffprivacy is Your Keyed eMail
Tweetoshi is now on Nostr as Plebstr
So far very impressed with the onboarding, UI and functionally.
⚡👍⚡
https://play.google.com/store/apps/details?id=com.plebstr.client