Discover and read the best of Twitter Threads about #freebanking
Most recents (2)
MORE FED COMMENTS ABOUT #stablecoins. Watch this space--putting pieces together, Fed action is coming:
federalreserve.gov/newsevents/spe… #Consensus2021
federalreserve.gov/newsevents/spe… #Consensus2021
"Depending on underlying arrangements, some may expose consumers and businesses to risk. If widely adopted, #stablecoins could serve as the basis of an alternative payments system oriented around new private forms of money."
"Given the network externalities associated w/ achieving scale in payments, there is a risk that the widespread use of private monies for consumer payments could fragment parts of the U.S. payment system in ways that impose burdens and raise costs for households and businesses."
@nic__carter 1/ TOUR-DE-FORCE, *MUST READ* from @nic_carter. Well-researched & well-reasoned. I don't agree w/ all of it, but it's a timely call to arms to #bitcoin intermediaries to PROVE YOUR SOLVENCY cryptograhpically. Thanks for naming names, Nic. I wasn't aware that one exchange has...
@nic__carter @nic_carter 2/ ...routinely issued #ProofofSolvency reports (Coinfloor). Your point is well-taken that Coinfloor puts its better-capitalized competitors to shame--bc when an intermediary holds 100% reserves, that means it is SOLVENT & it doesn't really matter how well-capitalized it is. I'd
@nic__carter @nic_carter 3/ ...rather trade via a small but provably solvent counterparty than a big but insolvent one any day. @nic__carter's chart is worth studying in detail & it shows what everyone should realize--that we're in a debtor/creditor relationship with #crypto exchanges when they take... 
