𝕏 Payments will be the final blow to the Federal Reserve and the Central Banks of the world. Elon is on record stating that with 𝕏 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).
"𝕏 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 𝕏 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 𝕏 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 𝕏 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.
𝕏 Payments will be the final blow to the Federal Reserve and the Central Banks of the world. Elon is on record stating that with 𝕏 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
"𝕏 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 𝕏 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 𝕏 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.
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.