All sorts of things...be forewarned - it seems nearly every site discussing QFS is blended with some mixture of dooming via mark of the beast microchips, 666, Nesara, michael Jackson, jesus juice/bible thumping or some other horseshit other than the meat of QFS.
I half agree with you. Stablecoin right now means you're tethered to fiat and fiat is the problem. They can just print more fiats with quantitative easing, and that means they'd be funnyprinting more stablecoins too, so stablecoins are inherently self-devaluating. They are maybe the dumbest financial instrument ever invented, and they're even dumber say than fiat itself.
You want digital gold. Bitcoin IS that. its volatility is proof it's not beholden to fiat. In fact when bitcoin goes up in exchange value, it's because the US dollar is devaluating. If bitcoin goes down its because the US dollar is getting stronger
bitcoin is a way to dispose dollars and China knows this. literally just throw them away
I'm getting into the weeds here but what you want is a stablecoin based on reality and that's what a GOLD stablecoin woudl be. As far as TRUST MECHANISM, the trust mechanism is proof-of-property: the management of the gold stablecoin MUST BE ABLE to prove their holdings, otherwise trust is injured and people run from the currency; and not having their backing they pegged to means people find themselves holding stablecoins with a fraction of the value they are SUPPOSED to have.
Same thing happened with Tether...it's essentially a crypto version of a dollar as an ETF. Cryptos are digital stocks that cut out the middle man of the stock trader AND the DTCC and other clearing entities. The clearing is baked into the blockchain. This analogy is sound. So what happened with tether is the same thing that morgan stanley did (or was it jp morgan?) with silver ETFs...selling more ETFs than was represented by their physical silver holdings. They got zapped by DOJ but where is the remedy for the shareholders. The lesson is DONT DO ETFs. Ever.
Don't do tether or the other dollar stablecoin (udc? can't remember)....don't hold them EVER.
They exist for ONE thing and one thing only: for exchanges to be able to convert fiat to bitcoin and bitcoin to any other crypto currency in an arbitrage way that doesn't cost them money (or makes them money) and doesn't get them zapped by government regulations....they are an exchange hack. People don't hold them.
I'd say stay away from gold stablecoins managed by the US government because it lies. Russian government probably also. I don't trust governments to do it.
I want a livestream video of any SINGLE entity that is managing it, so anyone can audit them. You have to trust that the video is correct. How do you do that? Have an employee go up to the video with todays newspaper as a kind of 'proof of life'. Also you send in a third party auditor.
I think you need a network around the world of 'floating depositories' all using different auditors at regular intervals for "Proof of property" for any gold-backed crypto stablecoin system
Bitcoin isn't digital gold and it's bot a savior of anything. Ask yourself, if cryptos were so amazing and valuable why is it that only bitcoin is going up? There are thousands of cryptos. Why only bitcoin? They should all go up right?
Don't you think Trump & Co. have a plan for that? After all, the "plan" has been in the works for DECADES! I think it will a shock but in the end it will all work out.
I still give it 30%, chance that Trumps plans are just the beginning of the end. If he does cbdc then when he leaves in 4 years the framework for NWO is just waiting on a figurehead.
NO WAY he does cbdc, he already said that he wouldn't and I trust him. I don't know what the plan is but I'm sure a central bank will not be part of it.
Any crypto-coin whether gold backed or commodity backed or whatever-backed is still a digital token that can be tracked, monitored and parsed every nanosecond to determine if your access to purchasing power should be halted, or not. Cash, real money, held in the hand, is really the only way. I totally disagree with trump on the crypto thing. Digital money is the jew end game for us all. We are fooked if digital money is the "way"
It will have its use cases.
As of now, US dollar is #1 instrument used for fraud, nefarious & criminal activities, and it's digital form is tracked. They also print more, non audited.
rherrel what you say makes no sense. Whatsoever. Simple. You can divide real gold by any denominator to achieve this. The value can also increase, or both. However if your argument is "there isn't enough of it" well... there is literally zero crypto. It doesn't exist. I mean, seriously. If you hold "it" in your hand you're actually holding an electronic storage stick, not crypto. Come up with something better. I'll debate anything you got, because none of it will hold water.
Why "stable coin"? Why not go with something already established. a crypto that has depositories located in every major financial center around the world? One that has bi-annual audits to ensure that every coin being traded has actual physical backing it up? One that you can actually REDEEM your crypto for physical gold/silver anywhere in the world? Kinesis has all of these attributes and more, has a debit card you can use, it offers software for payroll accounting and payments, you can go peer to peer. In fact I would challenge anyone to come up with an attribute that Kinesis doesn't have or isn't working on right now?
Indonesia recently officially adopted Kinesis for their citizens to utilize in order to hold their savings. It's a private entity that operates outside of gov'ts, it's the perfect vehicle for international trade settlement. Why do these leaders insist on recreating the wheel when there is a solution staring them right in the face?
Because these leaders don't want an actual decentralized digital currency. They want to track your purchases, and they want to control it. Don't ever think there's a government out there that actually has your best interests in mind.
2030? That’s a nice cushy, six year soft collapse if I’ve ever heard of one.
A “rapid economic collapse” is here today, gone tomorrow in my book. Stock market implosion won’t take six years but it could easily take six days. Even with trading halts.
Yes in a way. I think it pops and MOASS occurs at the same time as the economic collapse. That said, if you wanna cash in your chips and pay shir off and be fiat debt free i think you can. Id love to do that but i think ill hold my DRS'd shares through collapse and transition to a new gold backed currency and see how everything shakes out. I think post MOASS and under a new dollar GME will retain MOASS numbers even with a conversion to a new dollar. I could also see a split to bring prices down and give us more shares.
Either way im gonna hodl through collapse and MOASS and not worry about my fiat debt. Id rather keep my shares and the valuable wealth they represent safe during the next year or so.
Ill repeat this for all the doom people seem to run into when things like this are said. The US is primary consumer for most of the world. Dollar collapse and US economy collapse will collapse the rest of the world if we arent buying their things. Where is India after all this happens? China? Taiwan? Malaysia? Pakistan? They all depend greatly on US consumption. Without it they all go broke and all starve.
Better to have a gold-backed PRIVACY coin like Monero. Monero is fully open source. I am very confident in it because it's in the debian and arch linux stable depos. That means it's quality.
If you can gold-back moneroes (call them, ahem golderos), then you will have quite literally the ultimate, non CBDC, non-government, 'people's' GLOBAL currency and its backed entirely by either faith in the private institution network that is managing it, or a government or governments (NO!).
The ideal is to have a consortium of independent, private institutions that take minor fees to support the system AND TO AUDIT. Private is better because they can make their own rules and don't have to be subject to every-changing governments' whimsy and regulations.
And if a government makes bad regulations, that institution simply LEAVES THAT COUNTRY.
This is why, I recommend, that GOLDEROS be hosted on SECURITY BARGES, possibly with automation; and this automation is remotely airgappable, as in a robot arm can remove the data cable and then drive to pre-programmed location in the case of an emergency.
Back to audits
The rule is that each private institution MUST NEVER audit itself, when its audit time (say every 100 blocks), a random auditor will go to every institution and check and report their gold holdings.
Their audit is recorded on the chain to every 100th block as memo data. This gold is HODL'd essentially, immutable, untouchable, ever growing. If one institution fails to hold the same amount as last time, then Capn', Sum Ting Wong. Any movements of gold must be reported to ALL institutions by officially recording it to the blockchain memo and there is software that gives all the 'banks' an update. (They don't have to be banks, they can be depositories that simply hold the gold behind some kind of industry standard security facility)
I will never ever participate in making this system. I am saying this so I don't get killed. I will however be glad to consult. You can tell I've thought about this a little bit. I am an expert in IT, full stack web dev / linux admin, and learning crypto, rust, machine learnding
I don’t buy any gold-backed stablecoin” story.
Why? Because it’d be another version of CBDC:
You buy the digits.
The government keeps the gold (if you believe there’s any).
You then commit a wrong-think and what you’re left with? The digits?
I will believe in gold-backed currency when I will hear it’s sound.
Word. We've already been down this road with paper. Why anyone believes it'll "be different this time" is beyond me.
Catherine Austin Fitts has talked about QFS being implemented at banks for several years now. I don't know what that means for us or when
What does she say about QFS? Is it a swamp run enterprise?
All sorts of things...be forewarned - it seems nearly every site discussing QFS is blended with some mixture of dooming via mark of the beast microchips, 666, Nesara, michael Jackson, jesus juice/bible thumping or some other horseshit other than the meat of QFS.
Example: https://steemit.com/quantum/@sadcorp/xrp-ripple-u-s-navy-quantum-financial-system-qfs-microchipped-cashless-society-cc722b99e84c7
I'll spare you the other bs ... which appears worse than real raw news...
PAX Gold already exists and hasn't bankrupted the United States yet, lol
Good that you said „yet”.
Read this real story: https://en.wikipedia.org/wiki/Amber_Gold_(company)
It's hard to use gold for cross border payments or buying things online.
I half agree with you. Stablecoin right now means you're tethered to fiat and fiat is the problem. They can just print more fiats with quantitative easing, and that means they'd be funnyprinting more stablecoins too, so stablecoins are inherently self-devaluating. They are maybe the dumbest financial instrument ever invented, and they're even dumber say than fiat itself.
You want digital gold. Bitcoin IS that. its volatility is proof it's not beholden to fiat. In fact when bitcoin goes up in exchange value, it's because the US dollar is devaluating. If bitcoin goes down its because the US dollar is getting stronger
bitcoin is a way to dispose dollars and China knows this. literally just throw them away
I'm getting into the weeds here but what you want is a stablecoin based on reality and that's what a GOLD stablecoin woudl be. As far as TRUST MECHANISM, the trust mechanism is proof-of-property: the management of the gold stablecoin MUST BE ABLE to prove their holdings, otherwise trust is injured and people run from the currency; and not having their backing they pegged to means people find themselves holding stablecoins with a fraction of the value they are SUPPOSED to have.
Same thing happened with Tether...it's essentially a crypto version of a dollar as an ETF. Cryptos are digital stocks that cut out the middle man of the stock trader AND the DTCC and other clearing entities. The clearing is baked into the blockchain. This analogy is sound. So what happened with tether is the same thing that morgan stanley did (or was it jp morgan?) with silver ETFs...selling more ETFs than was represented by their physical silver holdings. They got zapped by DOJ but where is the remedy for the shareholders. The lesson is DONT DO ETFs. Ever.
Don't do tether or the other dollar stablecoin (udc? can't remember)....don't hold them EVER.
They exist for ONE thing and one thing only: for exchanges to be able to convert fiat to bitcoin and bitcoin to any other crypto currency in an arbitrage way that doesn't cost them money (or makes them money) and doesn't get them zapped by government regulations....they are an exchange hack. People don't hold them.
I'd say stay away from gold stablecoins managed by the US government because it lies. Russian government probably also. I don't trust governments to do it.
I want a livestream video of any SINGLE entity that is managing it, so anyone can audit them. You have to trust that the video is correct. How do you do that? Have an employee go up to the video with todays newspaper as a kind of 'proof of life'. Also you send in a third party auditor.
I think you need a network around the world of 'floating depositories' all using different auditors at regular intervals for "Proof of property" for any gold-backed crypto stablecoin system
I stopped reading at "You want digital gold. Bitcoin IS that." The bitcoin 'tards are everywhere.
Bitcoin isn't digital gold and it's bot a savior of anything. Ask yourself, if cryptos were so amazing and valuable why is it that only bitcoin is going up? There are thousands of cryptos. Why only bitcoin? They should all go up right?
I wonder why he thinks it will take until 2030
Idk why anyone takes what this guy says serious. They all talk like they are the authority. Similar to clandestine.
Re: 2030? He doesn’t even follow Q.
This guy is a normie. Seems like PDW material.
Good point. This could happen, say, tomorrow.
u/#q2619
Don't you think Trump & Co. have a plan for that? After all, the "plan" has been in the works for DECADES! I think it will a shock but in the end it will all work out.
I still give it 30%, chance that Trumps plans are just the beginning of the end. If he does cbdc then when he leaves in 4 years the framework for NWO is just waiting on a figurehead.
NO WAY he does cbdc, he already said that he wouldn't and I trust him. I don't know what the plan is but I'm sure a central bank will not be part of it.
Bingo. In the end it is prophesied
Any crypto-coin whether gold backed or commodity backed or whatever-backed is still a digital token that can be tracked, monitored and parsed every nanosecond to determine if your access to purchasing power should be halted, or not. Cash, real money, held in the hand, is really the only way. I totally disagree with trump on the crypto thing. Digital money is the jew end game for us all. We are fooked if digital money is the "way"
It will have its use cases. As of now, US dollar is #1 instrument used for fraud, nefarious & criminal activities, and it's digital form is tracked. They also print more, non audited.
There is not enough gold and silver to back cash money so your point is moot, we need another solution and I trust that Trump has our backs.
rherrel what you say makes no sense. Whatsoever. Simple. You can divide real gold by any denominator to achieve this. The value can also increase, or both. However if your argument is "there isn't enough of it" well... there is literally zero crypto. It doesn't exist. I mean, seriously. If you hold "it" in your hand you're actually holding an electronic storage stick, not crypto. Come up with something better. I'll debate anything you got, because none of it will hold water.
So what happens to gold and silver as a medium of exchange for private citizens?
It gets confiscated unless you bank at Land Bank.
Hehehe... better than that, the Under The Mattress Bank, safeguarded by copious amounts of lead and brass.
Cool. Can we stop policing the world with our tax dollars at that point?
You have to pick something to start with.
I suggest cutting all 'foreign aid' first. Defined as 'if the dollars leave US shores, it's foreign'.
And cut money to NGO’s second. ALL charity is to come from individuals. Government doesn't have money to give away to anybody...
Why "stable coin"? Why not go with something already established. a crypto that has depositories located in every major financial center around the world? One that has bi-annual audits to ensure that every coin being traded has actual physical backing it up? One that you can actually REDEEM your crypto for physical gold/silver anywhere in the world? Kinesis has all of these attributes and more, has a debit card you can use, it offers software for payroll accounting and payments, you can go peer to peer. In fact I would challenge anyone to come up with an attribute that Kinesis doesn't have or isn't working on right now? Indonesia recently officially adopted Kinesis for their citizens to utilize in order to hold their savings. It's a private entity that operates outside of gov'ts, it's the perfect vehicle for international trade settlement. Why do these leaders insist on recreating the wheel when there is a solution staring them right in the face?
Because these leaders don't want an actual decentralized digital currency. They want to track your purchases, and they want to control it. Don't ever think there's a government out there that actually has your best interests in mind.
Why would anyone want electronic digits to replace MONEY?
Throughout history, money has been gold (and silver) because of certain PROPERTIES that give it value AS A FORM OF MONEY.
One of those properties is it MUST BE REAL.
Electronic digits ... ARE NOT REAL.
2030? That’s a nice cushy, six year soft collapse if I’ve ever heard of one.
A “rapid economic collapse” is here today, gone tomorrow in my book. Stock market implosion won’t take six years but it could easily take six days. Even with trading halts.
Wen crash?
Uuuhhhhgggg. We have to wait until 2030 now??
I'm not going to make it bros.
Does this make MOASS Irrelevant? If the currency is worthless I mean.
Does this effect the liklihood of XRP going up?
I'm considering investing in BRICS stable coin if it's gold backed. AITA
Yes in a way. I think it pops and MOASS occurs at the same time as the economic collapse. That said, if you wanna cash in your chips and pay shir off and be fiat debt free i think you can. Id love to do that but i think ill hold my DRS'd shares through collapse and transition to a new gold backed currency and see how everything shakes out. I think post MOASS and under a new dollar GME will retain MOASS numbers even with a conversion to a new dollar. I could also see a split to bring prices down and give us more shares. Either way im gonna hodl through collapse and MOASS and not worry about my fiat debt. Id rather keep my shares and the valuable wealth they represent safe during the next year or so.
The chances of India and China sharing a currency are zero
The chances of anyone sharing a currency with Russia are zero - it's a basket case
Why do people get taken in by this?
A gold backed stable coin will never work because they can never provide proof of reserves.
The only thing that can is Bitcoin
the jewish banksters did this to us
Ill repeat this for all the doom people seem to run into when things like this are said. The US is primary consumer for most of the world. Dollar collapse and US economy collapse will collapse the rest of the world if we arent buying their things. Where is India after all this happens? China? Taiwan? Malaysia? Pakistan? They all depend greatly on US consumption. Without it they all go broke and all starve.
America dollar isn’t going anywhere! We have consumer buying power! We buy a lot of stuff with our dollar! World wide!
USA still leads the world, so productivity and consumption won't just magically "re-direct" to other countries.
Remember, those other countries are even more fucked than USA when it comes to totalitarian dictator mindset of "running" an economy.
Will we be allowed to buy this coin?
Better to have a gold-backed PRIVACY coin like Monero. Monero is fully open source. I am very confident in it because it's in the debian and arch linux stable depos. That means it's quality.
If you can gold-back moneroes (call them, ahem golderos), then you will have quite literally the ultimate, non CBDC, non-government, 'people's' GLOBAL currency and its backed entirely by either faith in the private institution network that is managing it, or a government or governments (NO!).
The ideal is to have a consortium of independent, private institutions that take minor fees to support the system AND TO AUDIT. Private is better because they can make their own rules and don't have to be subject to every-changing governments' whimsy and regulations.
And if a government makes bad regulations, that institution simply LEAVES THAT COUNTRY.
This is why, I recommend, that GOLDEROS be hosted on SECURITY BARGES, possibly with automation; and this automation is remotely airgappable, as in a robot arm can remove the data cable and then drive to pre-programmed location in the case of an emergency.
Back to audits
The rule is that each private institution MUST NEVER audit itself, when its audit time (say every 100 blocks), a random auditor will go to every institution and check and report their gold holdings.
Their audit is recorded on the chain to every 100th block as memo data. This gold is HODL'd essentially, immutable, untouchable, ever growing. If one institution fails to hold the same amount as last time, then Capn', Sum Ting Wong. Any movements of gold must be reported to ALL institutions by officially recording it to the blockchain memo and there is software that gives all the 'banks' an update. (They don't have to be banks, they can be depositories that simply hold the gold behind some kind of industry standard security facility)
I will never ever participate in making this system. I am saying this so I don't get killed. I will however be glad to consult. You can tell I've thought about this a little bit. I am an expert in IT, full stack web dev / linux admin, and learning crypto, rust, machine learnding