Friday, March 9, 2018

Bannon: Cryptocurrencies Make Central Banks Redundant


Here we go....






12 comments:

Ryan Harris said...

How many people have used crypto? Doesn't count if you have "invested" in crypto technologies -- there are lots of people taking money from people for crypto hysteria, I'm just trying to find any people that use it for practical applications, as a technological advancement that makes life better, cheaper, simpler, easier... anyone? anyone?

Matt Franko said...

Look into 'Ripple' Ryan... XRP.... seems to be making the most inroads technically...

Matt Franko said...

The Bannon thing here is pretty standard textbook libertaianism 101:

"“Central banks are in the business of debasing your currency,” he proclaimed. “Central governments are in the business of debasing your citizenship.” However, Bannon reassured that audience that with the use of cryptocurrencies “We take control of the central banks away. That will give us the power again.”

SSDD...

Sounds like a lot of the lefties here with their 'oligarchy!" conspiracy theories too....

Tom Hickey said...

anyone? anyone?

Anyone here likely to incriminate themselves?

Prosecution futures.

Kaivey said...

I'm just reading about a guy who bought a hardware Ledger Nano wallet on eBay and he lost all his money - $25,000. They say only buy a hardware direct from the manufacturer.

https://np.reddit.com/r/ledgerwallet/comments/7obot7/all_my_cryptocurrency_stolen/

Matt Franko said...

If we didn’t have morons operating the current system none of this would be necessary...

Noah Way said...

It has been reported that over 50% of Bitcoin has been stolen.

I prefer to let the banks and the government steal what little money I have.

Ryan Harris said...

One imagined benefit of crypto is a distributed network ledger that isn't controlled by a central authority like government or central bank or VISA but mutual trust of the overall system and it's design and authors.

Ripple is centrally controlled crypto ledger so it gets all the unfortunate costs and risks of doing crypto and distributed ledgers without relative benefit of a truly distributed system. Not a fan, me.

Andrew Anderson said...

If we didn’t have morons operating the current system none of this would be necessary... Franko

The current system is inherently corrupt and unstable.

So what kinda of person supports such a system in the first place if not worse than a moron?

Eh, Franko?

Matt Franko said...

systems are an abstraction and hence cannot be properly described as corrupt...

People are corrupt... and stupid...

the current system could be operated well by the right people...

Tom Hickey said...

Of course as system can be corrupted if it is designed to do something that is different from what it is advertised as doing and the interested parties gain from the misrepresentation.

The whole capitalist system is corrupt in this sense, being sold to the public based on wrong assumptions and interpretation that disguise what is really going on.

Andrew Anderson said...

systems are an abstraction and hence cannot be properly described as corrupt... Franko

1) Our system extends what is, in essence, the public's credit but for private gain. That's corruption.
2) Our system intermingles what should be risk-free, 100% liquid assets with at-risk, not necessarily liquid assets. That's corruption.

Besides even mere abstract systems can be corrupt in principle.

the current system could be operated well by the right people...
Franko

IF you knew the Bible, you'd know that God HIMSELF does things the PROPER way. How much more then should mere humans do things ethically?