Isnt it more like USD is finally as stable as cryptocurrency?
this post was submitted on 10 Apr 2025
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Lol yes
The US economy is going TO THE MOON!! HODL!!!
DIAMOND HANDS!
BANG! ZOOM!
Yeah, right after 2028
you're an optimist
Not quite. The US economy is a large, slow-moving mass, and even with the chaos-monkey-in-chief doing his worst there will be meaningful economic activity: food will be grown, wages and rent paid, other goods manufactured even if only for local use. Crypto, meanwhile, has no connections to the world other than a fringe of payments which, for various reasons, cannot be made by other, vastly more efficient means. A scenario where the two are equally stable would look like a zombie apocalypse or similar.
A scenario where the two are equally stable would look like a zombie apocalypse or similar.
Dude. We already had that. It was called 2020.
This is fine; I am fine with this
LFG!!! SNP500 🚀 🌕 📈
Pamp it!
Crypto is the new "Brooklyn Bridge". More snake oil anyone?
Someone is a luddite. Crypto is now used by banks and credit card companies for xfer.
Except no it's absolutely not. They use systems such as ACH and the Federal Reserve Wire Network. For international transfers, they use systems like the SWIFT network.
Why add a crypto middleman to transactions like those?
Because 1) blockchain is far more secure than the older methods of xfer, 2) blockchain is faster than the current methods, and 3) blockchain is cheaper than the current methods.
I work with a few banks who are actively using this already and others who are developing the technology. Not sure where you get your information, but I can tell you first hand that banks and credit card company absolutely are using crypto right now.
Who is running the nodes?
angry goose noises
🪿 WHO IS RUNNING THE NODES?
You may work with banks that are experimenting with it, but it's not going to replace things like SWIFT any time soon.
Banks are not typically replacing Swift, they are using Swift with a blockchain validator.
OK, I'll bite... Do you have any links to specific banks detailing their use of blockchain to make transfers to other banks?
Well. I stand at least somewhat corrected. The SWIFT usage seems experimental right now, but Kinexys is clearly in use in production.
Where did you get this made up fantasy from?
The news... also... banks that I work with. https://www.finextra.com/newsarticle/44961/hsbc-and-ant-international-laud-results-of-blockchain-based-tokenized-deposit-transfers
The "tokenization" you hear credit card companies using like Mastercard is cryptography. It isn't cryptocurrency or blockchain. When people say "crypto" isn't being used, they mean blockchain in this case.
Tokenization is when the number on your payment card is replaced with a ”stand-in” number that is saved in your phone or watch or the merchant’s site where you register your card. Tokenization protects your account by using that token instead of your real card number, which the merchant never sees or stores.
https://www.mastercard.com/news/perspectives/2024/what-is-tokenization/
So Mastercard is not doing blockchain, but plenty others are. https://www.finextra.com/newsarticle/44961/hsbc-and-ant-international-laud-results-of-blockchain-based-tokenized-deposit-transfers
Is this the right article? It said they just did a test.
Presumably you're talking about CBDCs, but it's not what you claim. It's a state issued currency from a central bank and only some countries have adopted it, while others have rejected it. It is not applied across the board or used to transfer/exchange currencies in any way. A lot of them also do not even use distributed ledgers or blockchain. In the USA, some states have even banned the use of CBDCs.
I'm talking about stuff like this: https://www.finextra.com/newsarticle/44961/hsbc-and-ant-international-laud-results-of-blockchain-based-tokenized-deposit-transfers
From the article:
Launched in March this year, Project Ensemble is the HKMA’s wholesale central bank digital currency (wCBDC) project aimed at fostering the development of tokenization in Hong Kong.
The article also talks about how this is an experimental thing in Hong Kong. It's a testing environment, not a production case.
There are a number of banks working on this. Not just testing but in production, now.
"Working on" implies pre-production, at least to my understanding.
Then again if game companies can do Early Access, why not banks?
And I think with the advent of AI, the amount of energy crypto consumes is probably not as big of a deal anymore. Don't get me wrong, it's still an issue, I'm just saying in comparison to what AI will use it's probably negligible.
I guess that's the American way. Forget about your self-created problems with much larger self-created problems.
Not only that but proof of stake is a thing now. So not every crypto needs to have a nuclear plant worth of energy to be mined.
It's even moving along with the ups and downs of the stock market lately. It's almost as if the same rat bastards got control of both.
That was clear in 2020