But at least maybe that will rightfully discourage companies from using it.
The Australian dollar has gone up about 20% vs the American dollar since Trump.
For whom? The least volatile asset relative to dollars are dollars. The moment you start building a money-market fund you have novel risks, from credit to rates and FX. (And, in the extreme, legal.)
Which makes it garbage for transacting if you’re paid in or pay with any other currency.
Modern currencies split their store of value and medium of exchange components. Stablecoins (and credit cards and checking accounts) seize on the latter. Bitcoins (and Treasuries and money-market funds) the former.
It looks like it will be an API for agents [1].
[1] https://cloud.google.com/blog/products/ai-machine-learning/a...
Not that I'm complaining, blockchains are still a solution looking for a problem, it's just funny.
Edit: I was not wrong.
That said, they’re emphasising speed. (“Instant.”)
That seems to preclude using a major, public blockchain. (On the other hand, they don’t talk up privacy.)
I suppose. I don’t see why Cloudflare would want to give up that sort of control. The advantage they bring to the table is they’re a trusted brand per se.
Oh totally, that’s why I qualified blockchain with major and public.
But I am sure this will really be the crypto coin to power the internet’s transactions. All the previous ones got it wrong, this is the solution. /s
Instead of this, we need a central bank that can provide everyone with a direct account to stop all the banking speculation. That’s the instant transactions I want.
Hard nope from me post Trump. We don’t need the President having potentially unregulated and direct visibility into and access to every American’s bank account.
(And no, it’s not currently the case. The FBI still has to e.g. request records, a process which creates friction and the potential for pushback or whistleblowing.)
He hasn’t asked for it. I strongly doubt if he can control the Fed and FTC that the IRS will somehow be a red line.
> ideally you’d be able to get a foreign central bank account too
Oh goodie, what I need in my life is the CCP being able to blackmail me.
I don’t really want to go down a full political rabbit hole but Trump can ask for whatever he wants. If you look at all the cases in the federal courts currently they all are basically figuring out just how much of what he has tried is actually legal and mostly finding that very little of it is. As a result you’ll see headlines like “Trump requests JumpCrisscross’s medical records and bank statements” on the front page of CNN but you won’t see the headline on page six that reads “Trump appointed judge laughed the FBI’s lawyers out of the court room for making a stupid request.”
No indication they have.
“Stablecoins could be issued by banks and credit unions (through subsidiaries) or nonbanks. Nonbanks would be restricted to financial firms unless the Treasury Secretary and chairs of the Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC)—referred to as the Stablecoin Certification Review Committee (SCRC)—unanimously find they do not pose risks to the banking or financial system and will comply with certain requirements.”
No need to be totally cynic to kinda know how this will play out..
The open internet died a very long time ago. It’s been dead for years. It’s not coming back unless we figure out a way to make shareholders happy. Paying these companies for the content they host is how that happens.
bigyabai•1h ago
margalabargala•53m ago
chews•51m ago
margalabargala•48m ago
Why is the standard tied directly a single for profit company an improvement to the system that isn't tied to any specific wntity and anyone can use?
bigyabai•36m ago
Woohoo! I freaking love coinslop!
chews•32m ago
margalabargala•23m ago
I non-sarcastically agree.
What's wrong with same day ACH?
The risk of having the money be not in a FDIC bank makes this a nonstarter.