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If you have any interest in how the financial system in the US *really* works - read this article. This woman is super knowledgeable and wholly qualified to write this. Great job @CaitlinLong_
THE REAL STORY of the #repo market meltdown, why banks are undercapitalized & GAAP accounting papers over it, why this episode probably isn't "the big one," plus a teachable moment about systemic fragility vs #antifragility. #bitcoin@ForbesCrypto
https://t.co/h6mtGgVplk
Read this thread. Everyone should be aware of this risk. Individual banks creating their own individual central authorities bodes ill for nearly everyone.
The major currencies already are digital, and have been for decades. The remaining paper money is akin to a higher layer of the protocol stack.
But they aren't trust-minimized. And they have no plans to be trust-minimized. That is what makes Bitcoin far superior.
Instead of a tweet storm about the FinCEN crypto guidance, I downloaded and annotated the entire thing.
For those who actually would like to read the document, but may need some help in figuring out exactly which sentences/ sections matter. DL here :)
https://t.co/mfZjxJuW3x
@CCryptosecure Oh, @CasinoCoin! They seem serious but I don’t know much about them. They forked the rippled codebase and made changes to the code, adapting it to the specific use cases they’re targeting. That’s pretty cool. 😊
I hope they can contribute their improvements back into rippled!
For reasons unclear, I’ve always been fascinated by disused subway stations. There’s a book that covers London’s disused stations called ‘Do not alight here’ that I found interesting.
Here's the first ever NYC subway station (opened in 1904!)
It's now abandoned-- though if you stay on the 6 train after its last stop at City Hall, the train goes underneath City Hall and will past this station. Such a pity it's totally unused now 😭
https://t.co/PrIxup5trW
0/ Sorry to say, I'm not a fan of the new Token Taxonomy Act.
I do think we need legislation to clarify whether & how digital tokens should be regulated, but this bill doesn't cut it. Here's my take on why it would create *more* regulatory uncertainty, not less.
Thread. 👇