Simon Dixon does a pretty good job laying out the Genius Act mess. He also does a good job explaining the tether crime organization. I'm no expert on either, so I learned a lot.
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36 sats \ 0 replies \ @YewTuBot 30 Jul
🔗 Privacy-friendly: https://yewtu.be/watch?v=qtbYUo_zK1w
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36 sats \ 0 replies \ @standardcrypto 30 Jul
at 48 minutes, prediction that the bank stablecoins will mostly run on ethereum, with the ethereum ETFs ( biggest one at blackrock ) being an administrative backstop, as they have enough stake to dominate and settle conflicts on the eth blockchain
seems plausible to me. I always thought the USD would eventually run on ethereum, like most of the other shitcoins already do.
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36 sats \ 0 replies \ @standardcrypto 30 Jul
under genius act, only banks can pay interest on stablecoins. USDT won't.
https://www.youtube.com/watch?v=qtbYUo_zK1w around 40 minutes
so obvious prediction is, funds will flow from USDT to bank stablecoins (BOFA usd, JPM usd, WELLS usd, etc)
USDT probably has enough network adoption, and reserves, that this will not cause a real bank run on USDT. but if there's any skeletons in the closet, who knows.
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36 sats \ 2 replies \ @BlokchainB 30 Jul
I like Simon Dixon. I read his book he has a very different perspective than most since he was deep in the banking industry. Some maxis call him a shitcoiner because he invested in a lot of companies and made a ton of money.
But overall his massage is quite clear. Own more bitcoin today than you did yesterday in self custody and protect yourself from what is coming.
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71 sats \ 1 reply \ @siggy47 OP 30 Jul
I don't listen to him often, nor do I listen to that Rebel Capitalist guy either. I thought they did a really good job in this episode exposing the dangers of tether, BlackRock and Palantir. If accurate, the future is grim. I've watched enough of this stuff over the years to avoid getting really depressed
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36 sats \ 0 replies \ @BlokchainB 30 Jul
Yeah George Gammon is always a doomer. I used to consume a lot of his content but then I figured he’s just a walking contradiction. He hates the the government so much but yet uses government data and stats to make his arguments. Like can’t have it both ways bro.
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36 sats \ 0 replies \ @kurszusz 7 Aug
I learned during that time (and I agree with this "method") that there is almost never a need for a new plan...the old plan always needs to be adapted to the new environment / situation / market / etc...
It is much easier, cheaper, faster and more efficient than trying a completely new plan!
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