So what do yall think the new currency is going to be?

[DrEvil]

so i think it will go like this:

one's livelihood will go to stablecoins on your phone. your expenses will come from stablecoins on your phone. in a manner of speaking you will only sign up once, on your phone, and that will be your bank account forever. continuous geo-located permissions to work and spend. app will calculate the pay-as you go taxes. a chip begins to make sense. and all just enough for you to live and play on. we won't even go anywhere that doesn't take stablecoins. that big number that go up? that's why this had to happen..

So company scrip run by tech-bros? Can't wait for citizenship and fundamental rights to become a subscription service.

[Elihu]

https://www.zerohedge.com/crypto/ether- ... ast-5-days

Spot Ether ETFs have been trading for 13 months and have seen $13.6 billion in total aggregate inflows, the majority of which has come in the last couple of months. Spot Bitcoin ETFs have been around longer, trading for 20 months with an aggregate AUM of $54BN....Since Aug. 21, spot Ether ETFs have seen a whopping $1.83 billion in inflows.....The latest trading day on Wednesday continued the trend, with nine Ether funds reaching $310.3 million in inflows, while the 11 spot Bitcoin funds saw just $81.1 million...spot Ether ETFs are now close to $10 billion in inflows since the start of July. ...

money's moving. but together they're about 70 billion? whereas bitcoin, cash, and GLD (digital gold) are about 1.5 trillion each? the world needs a balance sheet

[Elvis]

so how does this fit into bitcoin and crypto treasuries? who's getting rich? er

Bitcoins tries to emulate gold—not money.

[Elvis]

All the crypto crap is speculative UNPRODUCTIVE nonsense.

[Elihu]

So company scrip run by tech-bros? Can't wait for citizenship and fundamental rights to become a subscription service.

company scrip run by the Treasury to be exact

fundamental rights never change they just get forgotten about. the other thing is a subscription service

[Elihu]

All the crypto crap is speculative UNPRODUCTIVE nonsense.

crypto is profitable in scrip for insiders. so how do these digital tokens relate to or tie into our upcoming state monopoly digital currency? i'm going to call them the us deficit tokens UDT's

[Elihu]

https://www.usdebtclock.org/

37 point eight three October 6

https://tradingeconomics.com/crypto

wow, bitcoin cap at 2.4T. the last time we looked at that link it was what? 1.1T ? Ether the #2 crypto has gone from point 4 to point 7T. I think the bitcoin price run up has been from 72 to 125 per "coin" now?

Our big takeaway from today's view of the link is down there in the middle. What do we have that we didn't have back then? Tether and USDcoin. They're set at 1, by that law awhile back. Crypto is, or soon will be, in direct competition with feddollars whether in cash or traditional bank accounts. If they are accepted at both ends. The cryptos will be mainly backed by the real time Treasury bond fountain, and number go up. beware the rabble rewards and the "reasonable" sounding restrictions. I'm not sure it will work. That number up there is the writing on the wall for traditional banking. There's not enough banks to buy all the Treasury bonds.

[Elvis]

There's not enough banks to buy all the Treasury bonds.

This is not correct. Treasury bonds are all sold to the 25 or so Primary Dealer banks & brokerages. The government provides the reserves used to buy the Treasury bonds, so it's not a matter of bank liquidity..

Of course the Primary Dealers intend to resell the bonds in the secondary market, but if for some odd reason banks stopped buying Treasuries (why would they?), the Fed can always buy them.

The US government is self-funding.

[Elihu]

When I get back to my seasonal mining job in May I will take 75% of my income to buy Bitcoin and ride the elevator to the top in September 2025.

Then, I will roll into tokenized gold to avoid the Bitcoin/Crypto winter that seems to end every cycle.

dang, wish i had bought even a tenth of a bitcoin back then

i hope and pray that some of yall are kickn arse out there. this is a great moment to get rich or get to safety or maybe both

A "crypto winter" is a prolonged, severe market downturn in the cryptocurrency industry, characterized by plunging prices, low trading volume, and negative investor sentiment. It is more persistent and intense than a typical bear market, which is defined as a drop of 20% or more from recent highs.
Notable crypto winters
The cryptocurrency market has a history of major downturns and recoveries.
2014: A crash was triggered by the Mt. Gox hack, a major Bitcoin exchange that suddenly halted withdrawals and filed for bankruptcy.
2018–2020: The bursting of the initial coin offering (ICO) bubble led to a multi-year slump. After Bitcoin reached nearly $20,000 in 2017, it plummeted over 80%.
2022: A combination of macroeconomic factors and industry-specific scandals led to a massive market crash. The collapse of the Terra-Luna ecosystem in May 2022, followed by the bankruptcy of crypto exchange FTX in November 2022, caused a loss of over $1 trillion in market value.

[Elihu]

it's not a matter of bank liquidity..

of course it's not

bank 1: "yo what's going on over there on the other side of the world? need any treasury paper?"

nbank on other side of world: "$h!# no! my balance sheet's full of it! I'm tryna trade em for something else before tomorrow's auction. got anything?"

bank 1: "yeah right"

[Elihu]

collapse of the Terra-Luna ecosystem in May 2022

oh those silly tech pioneers. ecosystems are called exchanges crypto treasuries now. won't be no more crashes now that the state has begun to taken them over.

[Elihu]

The US government is self-funding

and that is why the state is evil. money is life. free money activates a god delusion. and as is self evident there can only be one God

[Elvis]

If God's in, I'm out.

[Elihu]

well, there it is then,