Episode 236 - How would the world perform during a pandemic under blockchain?

Crypto Basic Podcast: Teaching You The Basics of Bitcoin and the World of Cryptocurrency. CryptoBasic

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Contenido proporcionado por Brent Philbin, Karim Baruque, and Adam "Roothlus" Levy - The Cryptocurrency news nerds, Brent Philbin, Karim Baruque, and Adam "Roothlus" Levy - The Cryptocurrency news nerds. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Brent Philbin, Karim Baruque, and Adam "Roothlus" Levy - The Cryptocurrency news nerds, Brent Philbin, Karim Baruque, and Adam "Roothlus" Levy - The Cryptocurrency news nerds o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.

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“If we march into that village and we start trying to persecute people for using poison, something that's very illegal, nobody's going to talk to us. We're not going to find out where the poison came from. We're not going to be able to shut anything down. We should take the approach that people are using poison because they're desperate, because they see no other alternative.” – Andrew Stein Andrew Stein is a wildlife ecologist who spent the past 25 years studying human carnivore conflict from African wild dogs and lions in Kenya and Botswana to leopards and hyenas in Namibia. His work has long focused on finding ways for people and predators to coexist. He is the founder of CLAWS , an organization based in Botswana that's working at the intersection of cutting-edge wildlife research and community driven conservation. Since its start in 2014 and official launch as an NGO in 2020, CLAWS has been pioneering science-based, tech-forward strategies to reduce conflict between people and carnivores. By collaborating closely with local communities, especially traditional cattle herders, CLAWS supports both species conservation and rural livelihoods—making coexistence not just possible, but sustainable.…

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Some of the interesting points from the thread:

Here's the post from Ownejj and some quotes

I'm a huge advocate for crypto and have always defended it when discussing with other people. I am struggling to find an answer to the question on why a world using crypto would be better than the current cash system we are using today to handle the pandemic. For example Aus has just announced a 130b package to support workers who have lost their jobs. I'm assuming they are printing money daily to handle this crisis. Also America's plan to inject trillions into the economy. Can someone smarter than me explain how this situation would have been handled with crypto or why crypto would be the better choice. Thanks heaps for the replies!

User Ketifus said

DLT is the key to an open honest world and crypto is the natural vehicle for value exchange when this shit show goes pop. My guess is that this virus will take the blame this time but the QE coming off the printer now will store up the final collapse of fiat. In the mean time we can look forward to another 10 years of global austerity, 4-5 years of a phoney asset based recovery. Then inflation and rising interest rates causing the global debt load to make the world insolvent Hopefully crypto is ready, if it isnt we’re fucked. I’m setting my life up to deal with the latter

User dontlikecomputers said

Under the current system the government has 100% credibility to repay if it borrows in the currency it controls, under a crypto standard, everyone is on a level playing field because we all have the same fundamental ability to repay.

User Karma_z says

If the world was purely crypto based we’d be in a crippling economic depression right now and most of the world would not survive the coming six months. This isn’t even remotely hyperbole.

User BitsAndBobs304

I think all speculations are void on both sides simply because humanity has never existed under such a system and it would have so many unforeseen consequences that the whole economy and production and world of jobs would be radically different in so many unpredictable ways.

Brent example 1
Is Bitcoin the global currency? No, but it's still the largest network. Another more versatile coin could be the global currency
What role does fiat play in this society, if any at all? Fiat is a thing of the past, and there was all kinds of weird things that happened with stablecoins
What other things are we assuming for your example? Governments have accepted the crypto, there wasn't a revolution or anything.
How would it be different?
Governments will still be accepting taxes, they just won't have the ability to print new money. Taxes will be accepted in a couple of different currencies, but stored in national transparent reserves.
There will be a privacy currency, but most business will be done on a public ledger that's traceable.
The government could announce that any and all obligations are halted, and they'd have a full accounting of what those obligations are. They all get pushed back, and smart contracts could be updated to increase the back end obligations.
Governments could instantly distribute funds to any confirmed citizens on chain to solve for necessities. If they didn't have the funds they could appeal to DAOs by issuing bonds to them.
Liquid democracy could show the true public reaction to the opening of the government, rather than astroturfing and vocal minorities.
Brent example 2
Is Bitcoin the global currency? It's the world's most used currency, but governments still cling to their fiat
What role does fiat play in this society, if any at all? Citizen have a weird mix of cash and crypto
What other things are we assuming for your example?
How would it be different?
In a world where there was a balance between Fiat and Crypto, and the government was printing money - I think it would actually move people away from crypto. People won't turn down free money, and in this situation it would be more of a competitive market. Could the communities of the cryptocurrencies step up and match a government bailout? Or do we just throw citizens to the wolves?

How to talk about your world, and what would be different:

Is Bitcoin the global currency?
What role does fiat play in this society, if any at all?
What other things are we assuming for your example?

205 episodios

#Trading #Tech News #Bitcoin #Blockchain #Crypto #Ethereum #Finance #Investing #Litecoin #Neo #Tech #News #Adam "Roothlus" Levy - The Cryptocurrency news nerds #Brent Philbin #Karim Baruque #Cryptocurrency #Business #Podcasting Education

Episode 236 - How would the world perform during a pandemic under blockchain?

Crypto Basic Podcast: Teaching You The Basics of Bitcoin and the World of Cryptocurrency. CryptoBasic

40 subscribers

published hace 5 años

MP3•Episodio en casa

Notes:

Some of the interesting points from the thread:

Here's the post from Ownejj and some quotes

I'm a huge advocate for crypto and have always defended it when discussing with other people. I am struggling to find an answer to the question on why a world using crypto would be better than the current cash system we are using today to handle the pandemic. For example Aus has just announced a 130b package to support workers who have lost their jobs. I'm assuming they are printing money daily to handle this crisis. Also America's plan to inject trillions into the economy. Can someone smarter than me explain how this situation would have been handled with crypto or why crypto would be the better choice. Thanks heaps for the replies!

User Ketifus said

DLT is the key to an open honest world and crypto is the natural vehicle for value exchange when this shit show goes pop. My guess is that this virus will take the blame this time but the QE coming off the printer now will store up the final collapse of fiat. In the mean time we can look forward to another 10 years of global austerity, 4-5 years of a phoney asset based recovery. Then inflation and rising interest rates causing the global debt load to make the world insolvent Hopefully crypto is ready, if it isnt we’re fucked. I’m setting my life up to deal with the latter

User dontlikecomputers said

Under the current system the government has 100% credibility to repay if it borrows in the currency it controls, under a crypto standard, everyone is on a level playing field because we all have the same fundamental ability to repay.

User Karma_z says

If the world was purely crypto based we’d be in a crippling economic depression right now and most of the world would not survive the coming six months. This isn’t even remotely hyperbole.

User BitsAndBobs304

I think all speculations are void on both sides simply because humanity has never existed under such a system and it would have so many unforeseen consequences that the whole economy and production and world of jobs would be radically different in so many unpredictable ways.

Brent example 1
Is Bitcoin the global currency? No, but it's still the largest network. Another more versatile coin could be the global currency
What role does fiat play in this society, if any at all? Fiat is a thing of the past, and there was all kinds of weird things that happened with stablecoins
What other things are we assuming for your example? Governments have accepted the crypto, there wasn't a revolution or anything.
How would it be different?
Governments will still be accepting taxes, they just won't have the ability to print new money. Taxes will be accepted in a couple of different currencies, but stored in national transparent reserves.
There will be a privacy currency, but most business will be done on a public ledger that's traceable.
The government could announce that any and all obligations are halted, and they'd have a full accounting of what those obligations are. They all get pushed back, and smart contracts could be updated to increase the back end obligations.
Governments could instantly distribute funds to any confirmed citizens on chain to solve for necessities. If they didn't have the funds they could appeal to DAOs by issuing bonds to them.
Liquid democracy could show the true public reaction to the opening of the government, rather than astroturfing and vocal minorities.
Brent example 2
Is Bitcoin the global currency? It's the world's most used currency, but governments still cling to their fiat
What role does fiat play in this society, if any at all? Citizen have a weird mix of cash and crypto
What other things are we assuming for your example?
How would it be different?
In a world where there was a balance between Fiat and Crypto, and the government was printing money - I think it would actually move people away from crypto. People won't turn down free money, and in this situation it would be more of a competitive market. Could the communities of the cryptocurrencies step up and match a government bailout? Or do we just throw citizens to the wolves?

How to talk about your world, and what would be different:

Is Bitcoin the global currency?
What role does fiat play in this society, if any at all?
What other things are we assuming for your example?

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59:39

Welcome once again to Flagship Friday! Although one day late, we're still calling it Flagship Friday to keep our tradition alive. Flagship Extended Weekend didn't sound all that nice. Tune in as Karim and Adam (Brent's got the sniffles :') dive into EOS and its latest scandal, talk about North Korea's crypto project and the Federal Reserve's intervention on the economy, along with some juicy commentary and rants by Karim, our in-house "important things" expert. So if you wanna hear Karim spit some fire preaching and Adam PASSIONATELY agreeing with him, put on your headphones and press play cause this episode is a feisty one. Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire Netflix has an upcoming series on crypto. Altcoins to be exact. Will be interviewing Vitalik, Charles, and Da Hongfei (NEO) Alcoin Documentary Coming In Late 2019 What To Expect From Netflix's Upcoming Crypto Series EA tweets out “invest in Crypto”. New character in Apex Legends Electronic Arts on Twitter Istanbul, the Ethereum mainnet update has a release date after most recent maintenance update. Istanbul is Ethereum’s long-debates hard fork. First update will be by in October or November and the second update will be 1Q 2020. That update will include ProgPoW (progressive proof of work) Ethereum reveals launch dates for testing Istanbul J.P. Morgan's nlockchain-based network grows to over 330 banks. It's called the Interbank Information Network. Deutschbank is big players. They are using Quorum, a permissioned version of the Ethereum blockchain. J.P. Morgan's blockchain-based network grows to over 330 banks Ethereum celebrates the end of August with more than 75 million unique addresses. [ cryptoslate.com/ethereum-celebrates-successful-august-with-more-than-75-million-unique-addresses/ ](Ethereum Is Sweet) Ethereum has had a steady rise Q1 of 2018. Basically looks like a 45 degree angle since then. Back in July of 2017 it was at roughly 2 million addresses. Here Comes The Federal Reserve overnight borrowing rates shot up, forcing the New York Federal Reserve to come to the rescue with a special operation aimed at easing stress in financial markets First wanted to understand overnight rate Amount of cash a bank has can fluctuate a lot based on daily activity, they can have shortage or surplus of cash at the end of the day. Banks with surplus can lend money overnight to banks with shortages to maintain reserve requirements Interest rate that large banks use to borrow and lend from one another. This rate is targeted by the central bank, which is also a participant in the market (lending and borrowing) Since this is the base borrowing rate it can be used as a predictor of short term rates for broader economy. Goes up when liquidity decreases Fed target rate for July? Between 2% and 2.25%. On Monday it hit 5%, which was up from 2.29% previous week, it kept surging until 10% high on tuesday Called an overnight repo operation, where Fed eases downward pressure on markets by purchasing treasuries and other securities Managed to inject $53b into the system One theory was for the stress is a large quarterly withdrawal by US companies to pay Taxes (estimated around $100b total) On wednesday Fed had to pour an extra $75b, so $128b, getting rates to lower to 3% (still above target rate) Bigger pic, we now have a $1 trillion federal deficit so Government borrowing has climbed (Tax revenue decreased because of tax cuts, but bipartisan surge in spending) EOS Troubles Brewing https://www.coindesk.com/everyones-worst-fears-about-eos-are-proving-true?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic A few weeks ago one of it's early supporters, EOS Tribe, a small company that participated in the launch of the first EOS chain called it quits as an EOS block producer. In a post made on Steemit Eugene Luzgin said "We at EOS Tribe have never participated in the game of vote trading and stayed true to our principles, and hence while we leave EOS as Block Producer, we are also free to speak truth and give warnings to the rest." WHOA. Shots fired!! You guys covered in your EOS 101 how there were issues with governance and that it's pretty centralized. 21 block producers at any time that make governance decisions, establish consensus on the chain, and earn substantial rewards. This has always been a concern and now the most technically proficient BPs are receiving little to no rewards at all. Luzgin called it a braindrain. What does he mean by that exactly? Most of the BPs are in located in China May 8th 2019 they burned $167 million in EOS for the worker proposal system, which was a way to fund EOS dapp development EOS NY proposed an EOS user agreement which was adopted y 15 of the 21 BPs at the time but nothing against vote-buying was in the agreement two forks already, Telos and Worbii. Telos has a token cap at 40k and number of innovations to ensure potential BPs actually serve. Worbii created with certain consumer protections and more of a focus on the financial industry. not saying EOS is a sinking ship but touting themselves as the Ethereum killer is a bit much. Crypto Around the World North Korea Is Building Its Own Bitcoin Cubans flock to cryptocurrency to shop online, send funds THAT'S A SCAM [ https://decrypt.co/9379/sec-files-suit-against-icobox-founder-over-14-million-ico ](ICOBox Gets Slapped With $14 Million Fine From SEC)…

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