So, it's good that #[0] reminded me of this:
With coinjoining #Bitcoin there are different implementations. We all know about the endless debates between Samourai and Wasabi. And there is Joinmarket as well.
The differences between them are all about trade offs (and sometimes honesty about those). On top of that there is still ongoing research that is being done about privacy tools on Bitcoin.
What I can tell You is that onchain coinjoins won't be feasible in the long term. Simply because it will be too expensive in onchain transaction fees to conduct.
So now what?
More privacy tools will be there on other layers on top of the Bitcoin main chain. #Fedimint is already a good example of that and more will come.
Innovation and developing takes time. Be patient and You'll get all the Bitcoin tools You ever wanted. 😉
Because I've talked multiple times with Nopara and others about the trade offs of both ways of coinjoining. So yeah, maybe I'm a bit biased.
I wish that You've got more answers in here to your question. When I see such a good question with no answers, I'll try to answer it. It's sad to see that nobody else replies.
Don't let it discourage You from learning bitcoin tools. 👍
I'll go with Wasabi, but I'm not planning to be part of that endless debate between the 2 companies. 😅
Good morning! 🌞
Enjoy that coffee! 👌
It's fun to #zap at the #zapathon but make sure You stack and hodl some #Bitcoin for the long run yourself. 😉
Why do people want to continue to believe the Psy-Op?
It's because most people's egos are too large for them to fathom the possibility of being fooled. 😉
So the #FED exists by now for around 110 years. Let's look at their track record:
Eliminating ALL the ‘minor downturns’, and ‘hiccups’ in the economy since its creation, and ONLY picking up the ‘official’ recessions and depressions, there have been, out of that 110 years of ‘management’ of the US national currency, 44 years, and 7 months we have actively been involved in either a recession or a depression. So nearly half the time the Fed has been running things, the economy has been in the shitter. Not a good score.
And the real horror of it is that if we were to include all the minor downturns, we would discover that those would more than DOUBLE our time in that shitter to over 89 years and 5 months.
Not very good managers if they are in crisis mode 80% of the time.
Individual adoption of #Bitcoin fixes this! 😉
People over estimate the short term and under estimate the long term.
Just dca is already a good strategy. 😉
That's fine, there are still interesting posts on #Nostr. 😃
I had no issues to do that. That website didn't asked me to create an account. Maybe change your vpn-server?
#Bitcoin #FED #ECB
Is a new world reserve currency going to replace the US dollar?
I don't think so, but not in the way most people think.
I'll try to explain:
So first, what is a world reserve currency?
1. A reserve currency is a large amount of currency held by central banks and major financial institutions to use for international transactions.
2. A reserve currency reduces exchange rate risk since there's no need for a country to exchange its currency for the reserve currency to do trade.
3. Reserve currency helps facilitate global transactions, including investments and international debt obligations.
4. A large percentage of commodities are priced in the reserve currency, causing countries to hold this currency to pay for these goods.
In my way of thinking, the concept of having a world reserve currency is coming to an end. It's a keynesian invention that is based on a fiat debt based ponzi scheme in the first place. Central banks are the ones at the core of such a reserve currency and they will be gone in the future we're going into.
Sure, governments will come up with their new fiat digital fascist currency app, but people are going to reject them.
So, will #Bitcoin then be the world reserve currency?
No, because there won't be debt nor central banks and thus it fails the definition within that category.
Yes, Bitcoin will be used to pay in international trades, other stuff will get priced in Bitcoin and it will be widely adopted and used with other functionalities. The willingless to lend Bitcoin out will be way less than is now the case with fiat money.
So yes, the US dollar won't be the world reserve currency anymore. And yes, we're moving into the #Bitcoin standard, but that isn't a world reserve currency.
Bitcoin isn't money, it's code that some use like money. 😉
If a president of a country can veto anything, that country is a dictatorship, not a democratic republic.
This is hilarious! 🤣🤣🤣
Good morning fellow #Nostriches,
What a great day to get up early.
I wish You all a great day! 🌞
I'm using Amethyst, but can also not see it.
Well, it's allright. I just wanted to be helpful and had to ask a btc core dev some details in order to answer You accurately.
Thanks for the zap. 👍