Doing my part in helping restore freedom to America while kicking evil in the ass. Guided by God the Father, Jesus Christ & my ancestors!
I still don’t think people truly understand what is happening to banks.
I keep seeing headlines like “The Bank of _____ is now offering crypto services”.
I laugh.
Once a bank turns someone’s FIAT money into crypto, the bank will never get it back.
You can then send your crypto to a yield farming service and get 9%-19% APY on your funds.
Imagine keeping your money in a bank after learning this.
The banks are allowing this big shiny trojan horse into their systems, not truly understanding the freedom it will bring to humanity.
Crypto is a golden off-ramp to get your money out of [their] system.
#FamilyIsEverything. APL = 5.55/10 *Authorized conspiracy theorist *Not an authorized preacher.
The word Crypto freaks people out. I believe you are talking about a stablecoin like USDC That is 1 to 1 to the US dollar. Safe from the crypto markets.
I know you know this stuff but figured I would expand it a bit so everyone can understand.
Current 'Banks' will become 'Farms' as they wont have a choice but to adapt to DeFi. Many will just fail.
If you keep $1000 (USD) in a Banks savings account they will pay you $5 a year
If you keep $1000 (USDC) in a Farm it will earn you $90 a year.
If you try to take $10k in cash you have to declare @ airports.
No restrictions with a digital ledger. You can take your money with you everywhere. You have FULL ownership of your funds. The crypto market is full of scammers for that reason. Everyone trying to get your money.
Most coins are going to fail. Utility is king in the blockchain space. Only the useful will survive.
XRP is setting up nicely 2 b the onramp for Bank's Fiat. Lawsuit taking longer but gives opportunity.
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Doing my part in helping restore freedom to America while kicking evil in the ass. Guided by God the Father, Jesus Christ & my ancestors!
VK, been thinking more about this.
Will the banks have to use XRP to perform yield farming for their customers? Is that the only competitive way to do it? How else would they do it?
Is that why the banks are trying to buy up as much XRP as possible right now?
IMO it’s a simple equation when you realize money supply is going to decrease. Banks need to offer interest / farming payout competitive enough to get customer deposits. they will no longer be able to rely on mortgages, other loans, reverse repo facility, interest rate arb FFR vs customer rate, fractional reserve, etc.
balance sheet for them has to find income somewhere, and so it has to come from yied farming. more customer deposits means they are able to deploy more in farming as a function of reserve requirements. obviously holding XRP today is not only a capital gain if the % move happens that’s expected, but also is a “cost of doing business” and should almost be considered a liability on their books (and ours) like real estate or other property needed to do business.
if you’re a contractor, a front end loader or skid steer is a depreciating asset / liability that you’d rather buy inexpensively, no?
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if everything gets tokenized and placed on the XRP ledger as the standard, then banks not only need liquidity to be able to go out onto the market for messaging/payments, but also need some onhand for revenue generation. imagine stock ownership being transitioned to the NFT space, would you rather pay your fees as a fraction of $0.38 cost basis per XRP, or would you rather buy your “fees” XRP at a higher price knowing it’ll be only used to pay transaction fees?
IMO, I’d bet there’s some fuckery behind the scenes to give them (and us :)) more time to accumulate before they flip the switch.
(i know you both have considered much of this already, just laying out my stream of thought)
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