Master Thread Dance Your Cares Away/Fraggle/Law Abiding Citizens
- Thread starter Bryan74b
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Well now I feel like a Schmuck. Everything in moderation brother. Especially moderation! Skol!
Oh shit, I stayed in Mission Valley a few months when in the Navy. Very nice expensive area. Odd that all these high priced areas seem to have these fires popping up.
It's not about what we do.
It's about who we follow.
That is the gift of grace. V. 8-9 make it clear that we can't earn our way to salvation. It's because, has my pastor says, the biggest BUT in human history (verse 4).
And if you aren't sure, don't waste another moment. Repents of yours sins and trust in Jesus Christ as Lord AND Savior. It will be the hardest/best thing you ever do.
Ephesians 2:
And you were dead in the trespasses and sins 2 in which you once walked, following the course of this world, following the prince of the power of the air, the spirit that is now at work in the sons of disobedience— 3 among whom we all once lived in the passions of our flesh, carrying out the desires of the body and the mind, and were by nature children of wrath, like the rest of mankind. 4 But God, being rich in mercy, because of the great love with which he loved us, 5;even when we were dead in our trespasses, made us alive together with Christ—by grace you have been saved— 6;and raised us up with him and seated us with him in the heavenly places in Christ Jesus, 7;so that in the coming ages he might show the immeasurable riches of his grace in kindness toward us in Christ Jesus. 8;For by grace you have been saved through faith. And this is not your own doing; it is the gift of God, 9 not a result of works, so that no one may boast. 10For we are his workmanship, created in Christ Jesus for good works, which God prepared beforehand, that we should walk in them.
ShaolinNole
Legendary
Bitcoin is currently too expensive to transact to be the vehicle of choice. XRP actually burns down with each transaction making it slightly, and increasingly deflationary. If XRP is used to carry the US money supply and RLUSD is their stable coin, then XRP is probably worth in excel of $217 each, maybe more. Or it’s just worth a dollar.The treasury xrp walletis fake.. but XRP will eventually be used to replace other archaic money movement networks like swift. The protocol has checks and balances built in. That’s about the dept I know of xrp.
As far as bitcoin, it solves the bizatine general problem by proof of work. There are rules such as only 21 million coins. It’s a deflationary currency so the only monkey business on price suppression is done outside of the network.
Being deflationary, the US dollar could be tied to BTC I suppose similar to gold.. but let’s just ask grok.
Bitcoin (BTC) as a reserve currency would introduce several advantages, though it also comes with significant challenges and risks. Here are some of the key advantages:
1. **Decentralization and Sovereignty**:
- **No Central Authority**: Unlike traditional fiat currencies, Bitcoin isn't controlled by any single nation or central bank. This decentralization could reduce the ability of governments to manipulate currency for political or economic reasons, potentially leading to greater economic sovereignty for countries holding it.
2. **Inflation Resistance**:
- **Fixed Supply**: Bitcoin has a capped supply at 21 million coins, which inherently makes it resistant to inflation. This could be particularly appealing for countries experiencing hyperinflation or those looking to hedge against currency devaluation.
3. **Transparency and Security**:
- **Blockchain Technology**: All transactions are recorded on a public ledger (blockchain), providing transparency and reducing the risk of corruption or mismanagement. The cryptographic security of Bitcoin also makes it resistant to counterfeiting and fraud.
4. **Global Accessibility**:
- **Borderless Transactions**: Bitcoin can be sent anywhere in the world quickly and without the need for intermediaries like banks. This could facilitate international trade by reducing transaction costs and time, especially for cross-border payments.
5. **Privacy and Anonymity**:
- **Pseudonymous Transactions**: While not completely anonymous, Bitcoin offers a level of privacy in transactions which can be attractive for individuals or nations looking to protect their financial activities from surveillance or control.
6. **Incentive for Technological Adoption**:
- **Innovation**: The adoption of Bitcoin could accelerate the development and integration of blockchain technology and other cryptocurrencies, fostering innovation in financial services, security, and other sectors.
7. **Financial Inclusion**:
- **Access for Unbanked Populations**: Bitcoin could serve as an alternative for people in countries with unstable banking systems or where a significant portion of the population lacks access to traditional banking services.
8. **Protection Against Sanctions**:
- **Economic Sanctions**: Countries under economic sanctions might find Bitcoin an effective way to bypass traditional financial systems, although this aspect also poses significant legal and ethical considerations.
However, there are considerable challenges to consider:
- **Volatility**: Bitcoin's price can be extremely volatile, which could destabilize economies using it as a reserve.
- **Regulatory Uncertainty**: The legal status of Bitcoin varies widely around the world, which could complicate international trade and finance.
- **Scalability Issues**: Bitcoin's network currently has limitations in transaction speed and volume, potentially inadequate for a global reserve currency.
- **Energy Consumption**: The mining process for Bitcoin uses significant amounts of energy, raising environmental concerns.
- **Security Risks**: While Bitcoin's technology is secure, exchanges and wallets where Bitcoin is held have been vulnerable to hacks.
In conclusion, while Bitcoin as a reserve currency could offer numerous benefits in terms of sovereignty, inflation resistance, and technological advancement, its adoption would require overcoming major hurdles in stability, regulatory frameworks, and technological scalability.
The scenario where the US government would actively promote or transition to Bitcoin as a reserve currency is highly speculative and currently unlikely due to several reasons:
1. **Control Over Monetary Policy**:
- **Independence**: The US government and the Federal Reserve have control over monetary policy, which includes setting interest rates, managing inflation, and responding to economic crises. Bitcoin, being decentralized, would reduce this control, potentially leading to less effective economic management.
2. **Seigniorage Revenue**:
- **Financial Benefits**: The US benefits from the seigniorage of the dollar, essentially the profit made from issuing currency which the world demands. Moving to Bitcoin would eliminate this income source.
3. **Geopolitical Influence**:
- **Sanctions and Leverage**: The US uses the dollar's dominance for geopolitical leverage, including through economic sanctions. A decentralized currency like Bitcoin would reduce this capability, thus diminishing US influence on the global stage.
4. **Economic Stability**:
- **Volatility Concerns**: Bitcoin's high volatility could lead to economic instability if adopted as a reserve currency. The US government would be wary of the potential for rapid devaluation or inflation if tied to a cryptocurrency.
5. **Regulatory and Legal Frameworks**:
- **Current Systems**: The US has a well-developed legal and regulatory framework for financial markets which supports the dollar. Shifting to Bitcoin would require a complete overhaul of these systems, involving significant risk and uncertainty.
6. **Public Trust and Acceptance**:
- **Confidence in the Dollar**: There is a strong global trust in the US dollar, backed by the US economy and its institutions. Bitcoin lacks this established trust and would need to prove itself in ways that go beyond current perceptions of it as an investment or speculative asset.
7. **Technological Infrastructure**:
- **Blockchain Limitations**: Bitcoin's blockchain currently faces scalability issues, slow transaction times, and high energy consumption. These technical limitations would need to be resolved for it to be a viable reserve currency.
However, there are theoretical scenarios where the US might consider supporting Bitcoin or a similar cryptocurrency:
- **Innovation Leadership**: If the US wants to lead in blockchain and financial technology, it might support Bitcoin to spur innovation, similar to how it has historically supported tech industries.
- **Countering Other Currencies**: If other countries or blocs begin using alternative reserve currencies (like those from China or a Euro-based digital currency), the US might see Bitcoin as a way to maintain or regain some control over global finance.
- **Economic Experiment**: In a scenario of severe economic crisis or hyperinflation, the US might explore radical solutions like Bitcoin to stabilize or reset the economy, though this would be a last-resort measure.
- **Crypto Regulation**: By integrating Bitcoin into its economic system, the US could set global standards for cryptocurrency regulation, thereby influencing how cryptocurrencies are handled worldwide.
In conclusion, while there might be theoretical reasons for the US government to move towards Bitcoin as a reserve currency, the practical and political implications make it an unlikely scenario in the near future. Any move in this direction would require a significant shift in economic policy, public perception, and global financial structures.
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Also - wasn't he to visit with the WEF today?
A lot knowing, a lot seeing vs all-knowing, all-seeing, all-powerful. Yeah ok, fuck AI.
Thank you for your decency, sir.
Setting the stage for all those "pardoned" by FJB to be brought up on state charges.
We got about 4-5” at our house today in League City.
Because scarcity.
9Mounties07
Legendary
Good luck brother
Are you in the gulag?
Including moderation. One of my favorite sayings!
ShaolinNole
Legendary
Even if you don’t follow Tennis, this point to win the set by Novak at his age against a guy, almost half of his age is unbelievable!!
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