Im with you. One oligarch is the same as all the others. I applaud Elons efforts to bring transparency and wake the masses but I will not follow him off the edge of the cliff.
Elon is playing by the rules in order to increase the reach π. He is deliberately playing by the rules of the Deep State and consistently beating them at their own game. Once people get a taste of financial sovereignty, they will react very negatively towards a state revoking their access. Once π payments becomes popular with the mainstream normies, it will be nearly impossible for the Deep State to control. The licenses at that point will be superfluous.
Elon could very easily release the DeFi tools on π without going through the proper channels, but there is a sound strategy in leveraging the financial regulations. This way Elon avoids getting tied up in legal battles with the SEC and FTC. I believe these three letter agencies will be axed in the long run, but until they are the best course of action is to play their game better than they do themselves, while continuing to build a parallel economy to replace them in the near future.
I agree with this. Also Elon is a trailblazer. If he can do this with X, it can be done with other systems- that would be decentralization. If Elon includes the ability to trade with crypto for goods and services, then the central banking system will no longer have any hope of monopoly.
π Payments will be the final blow to the Federal Reserve and the Central Banks of the world. Elon is on record stating that with π you will no longer require a bank account for finance and commerce. His "everything app" vision will bring online the world's first true decentralized financial system (DeFi).
"π Payments will be the final blow to the Federal Reserve and the Central Banks of the world."
Could you please elaborate? What is X platform doing differently than any other p2p pay app? Are we giving our money to X? To secure? Aren't there a LEGION of bylaws and certifications required to hold/transmit funds?
The details of Elon's financial plans for π have been kept quiet. From the research I have done, I believe full integration of blockchain technology is coming to the platform. This blockchain technology will likely come in the form of a decentralized exchange and clearing house for the trading of tokenized assets. This would enable the userbase of π to circumvent the entire Deep State monetary system in order to pay and be paid with the currency of their choosing.
Go check out Kinesis if you want an idea of a platform that works across the world. www.kinesis.money
You can hold, send, convert to crypto, different fiat currencies, redeem for physical gold/silver and utilize a debit card, all from the same platform. The ap can be used to purchase products using your phone. That's what is here already, can't wait to learn about X.
Kinesis is a nice platform and the construction of the system is very nice, indeed.
However, the regulatory framework they have to uphold, also means that they go further than regulation requires to minimize regulator interference.
So, the implementation to set up a bridge between several payment systems, especially fiat to anything else, is fraught with surprises. You could be KYC-ed and move a 100-$, and all of a sudden, their system raises a flag. Combine it with lack of human control, and all you are left with is a drone droning on about your compliance.
Instead of freedom it offers a training in compliance. If a person chooses to go the alternative route, be prepared to also be an ambassador for such a system, to help people make the proper moves to establish that alternative. Think: Bitcoin Jesus.
Ok so we the consumer would convert wealth to XRP/DOGE/BTC and then be able stop trading in dollars? But doesn't that tank the dollar faster? What happens when the government stops getting its blood money, won't that hasten legislation to reign it in? I'm really interested in this topic if you have any links I could dive in on. Ty
Elon is on record stating that with π you will no longer require a bank account for finance and commerce.
So this doesn't bother you one bit? You do understand this prospect is still "centralized". Regional banks and trusts are just fine. Fed needs to go indeed, but this is insane.
Indeed, like the habits of twitter ever left, just morphed into something more subversive.
It's the skepticism that makes shills shit everywhere. They've got it figured out and criticism is futile, "just trust me bro" on steroids. Elon shilling is a special kind of autism. I'm completely fine with what he's doing, and I'm fine with anyone participating in it. But to think this is some sort of golden herald and a man with genetic ties to the DS has our back is appalling. He's akin to a good mechanic that I trust, but he's not going to be saving my life nor would I believe he would care.
I do in part. It's not hard to believe that his motives may not be what we think they are, but he has a lot of insight and it's hard not to at least respect that
I like Elon.
But I am not going to give him total control and power over my life.
Im with you. One oligarch is the same as all the others. I applaud Elons efforts to bring transparency and wake the masses but I will not follow him off the edge of the cliff.
I agree.
It's crazy how some people that supports our views. Cannot see that shifting everything over to Elon isn't a good idea.
It won't be decentralised, elon isn't to be trusted
They got license in California but not Texas? Hmm ...
Also, if you need a license to operate a Bank alternative, all they have to do to control you is to yank that license if you dont play game ...
Elon is playing by the rules in order to increase the reach π. He is deliberately playing by the rules of the Deep State and consistently beating them at their own game. Once people get a taste of financial sovereignty, they will react very negatively towards a state revoking their access. Once π payments becomes popular with the mainstream normies, it will be nearly impossible for the Deep State to control. The licenses at that point will be superfluous.
Elon could very easily release the DeFi tools on π without going through the proper channels, but there is a sound strategy in leveraging the financial regulations. This way Elon avoids getting tied up in legal battles with the SEC and FTC. I believe these three letter agencies will be axed in the long run, but until they are the best course of action is to play their game better than they do themselves, while continuing to build a parallel economy to replace them in the near future.
Hope so. Do they have a whitepaper or tech details of the payments platform?
Would be great to have some breadcrumbs to dig into. We all can feel those shifts in financial market, something must be going on.
Good question.
Looks like a transfer of trust to me rather than a true reconstruction of currency.
I agree with this. Also Elon is a trailblazer. If he can do this with X, it can be done with other systems- that would be decentralization. If Elon includes the ability to trade with crypto for goods and services, then the central banking system will no longer have any hope of monopoly.
π Payments will be the final blow to the Federal Reserve and the Central Banks of the world. Elon is on record stating that with π you will no longer require a bank account for finance and commerce. His "everything app" vision will bring online the world's first true decentralized financial system (DeFi).
u/#q119
"π Payments will be the final blow to the Federal Reserve and the Central Banks of the world." Could you please elaborate? What is X platform doing differently than any other p2p pay app? Are we giving our money to X? To secure? Aren't there a LEGION of bylaws and certifications required to hold/transmit funds?
The details of Elon's financial plans for π have been kept quiet. From the research I have done, I believe full integration of blockchain technology is coming to the platform. This blockchain technology will likely come in the form of a decentralized exchange and clearing house for the trading of tokenized assets. This would enable the userbase of π to circumvent the entire Deep State monetary system in order to pay and be paid with the currency of their choosing.
Blockchain seems like a buzz word. Let's see, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, something, something, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, Blockchain, It got Electrolights in it. Ref: Idiocracy, kek
It's all so tiring. Just blow everything completely up and now only the rich or technically apt can commerce.. right? Lol
Go check out Kinesis if you want an idea of a platform that works across the world. www.kinesis.money
You can hold, send, convert to crypto, different fiat currencies, redeem for physical gold/silver and utilize a debit card, all from the same platform. The ap can be used to purchase products using your phone. That's what is here already, can't wait to learn about X.
Kinesis is a nice platform and the construction of the system is very nice, indeed.
However, the regulatory framework they have to uphold, also means that they go further than regulation requires to minimize regulator interference.
So, the implementation to set up a bridge between several payment systems, especially fiat to anything else, is fraught with surprises. You could be KYC-ed and move a 100-$, and all of a sudden, their system raises a flag. Combine it with lack of human control, and all you are left with is a drone droning on about your compliance.
Instead of freedom it offers a training in compliance. If a person chooses to go the alternative route, be prepared to also be an ambassador for such a system, to help people make the proper moves to establish that alternative. Think: Bitcoin Jesus.
Only if we could sticky comments. This is a platinum reply
Ok so we the consumer would convert wealth to XRP/DOGE/BTC and then be able stop trading in dollars? But doesn't that tank the dollar faster? What happens when the government stops getting its blood money, won't that hasten legislation to reign it in? I'm really interested in this topic if you have any links I could dive in on. Ty
X Payments will usher in CBDCs. Watch.
So this doesn't bother you one bit? You do understand this prospect is still "centralized". Regional banks and trusts are just fine. Fed needs to go indeed, but this is insane.
Nice of Elon to create a financial system that bans you when you tell someone to sit on a cactus.
Indeed, like the habits of twitter ever left, just morphed into something more subversive.
It's the skepticism that makes shills shit everywhere. They've got it figured out and criticism is futile, "just trust me bro" on steroids. Elon shilling is a special kind of autism. I'm completely fine with what he's doing, and I'm fine with anyone participating in it. But to think this is some sort of golden herald and a man with genetic ties to the DS has our back is appalling. He's akin to a good mechanic that I trust, but he's not going to be saving my life nor would I believe he would care.
I don't even trust him to be a good mechanic.
I do in part. It's not hard to believe that his motives may not be what we think they are, but he has a lot of insight and it's hard not to at least respect that
ELI5 PLS
I would like to learn more. Andβ¦ Iβm a big fan of cash for my local transactions.