Central Chinese Bank and the Expiring Yuan. Next frontier of Monetary supremacy?
Various news items this week, first among them the digital youan: could it replace the dollar?
https://cryptonews.com/news/russia-could-legalize-crypto-mining-by-jan-1-2023-as-long-as-happens.htm
Russia is on course to finally legalize crypto mining - after the government's chief crypto legislation architect…cryptonews.com
Russia is evaluating to legalize cryptocurrency mining. This can lead to a wider cryptocurrencies adoption there with a direct competition to USA that tried to overcome Asian supremacy. This can play another key role in the economic war that is already ongoing between Russia and USA and generating cryptocurrencies there can potentially lead to a rebalancement under various aspects.
https://en.cryptonomist.ch/2022/11/16/blockfi-prepares-bankruptcy-filing/
BlockFi shares the fate of Celsius, Hodlnaut and many other Centralized Finance platforms after FTX default. Relying own money upon platforms relying on yields relying on non-regulated markets, is very very dangerous. Responsibles will be pursued but money will hardly even return.
There has been a huge escape from exchanges of Bitcoin, reaching levels of BTC storages down to the ones from 2015 but Binance has these levels at the maximum. Some people understood what really happened with FTX and others are simply relying more on Binance. Do not forget that centralization is not good for the crypto-space so make sure to keep on the exchange only the funds you use for trading.
https://cointelegraph.com/news/3-reasons-why-the-ftx-fiasco-is-bullish-for-bitcoin
3 nice Point of views of why FTX happenings can lead Bitcoin to a new bull-run. What is your opinion on the matter?
https://cointelegraph.com/news/binance-ceo-cz-begins-working-on-vitalik-buterin-s-safe-cex-ideas
Stop Cex please. We have enough of them and Binance is becoming too much powerful. Let’s start evaluating how to create alternatives to such ecosystems, less centralized, less powerful, more democratic and even, with less features and functionalities that do not require centralized controllers.
https://en.cryptonomist.ch/2022/11/16/digital-dollar-pilot-project-begins/
Digital dollar CBDC (Central Bank Digital Currency) is starting. When it will see the light? And what degree of centralization it will bring? Monetary control is the ultimate goal for supremacy, so CBDCs will create a double edged sword between the strongest exchange and the more centralized money. Are we going back to barter in 10 years?
And what about the Expiring YUAN?
The only way to stop CEX is by creating DEX that's completely disconnect from any central power, accessible and extremely cheaper to use than CEXs.
The AMM of DEX is a disappointment in my own opinion. DEX as a decentralized protocol, should create possiblilities for users to interact seamlessly than they do while using CEXs.
Slippage is a nightmare 😫 and this is one reason why CEXs thrive and will continue to do so until there's a truly decentralized exchange that's appealing. I might be right or wrong, but this is my own take on the situation.
I totally agree with you. The density of volumes in dexs is dramatic and that is why, trading there will be possible only once a synthetic MM will be put in place, through for example internal and decentralized liquidity providers
Couldn't agree more!
I don't think we will go back to bartering, but the era of the FIAT financial system could close by 2030. I didn't know that BlockFi had problems. Thank you for the information you give us
@stefano.massari I like thinking that already paid in cryptos is a form of barter. A decentralized barter. I can write a content on such topic, thanks for the idea 😎
your view on cryptocurrencies is very interesting