How Bitcoin Custody Will Change Finance Forever
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- Опубликовано: 5 сен 2024
- Sam Callahan, Eric Yakes and Allen Farrington discuss how major banks are preparing to custody and sell Bitcoin, transforming the financial landscape. This insightful discussion reveals the strategic moves banks are making to leverage Bitcoin as the ultimate collateral, ensuring its place in the future of global finance. Explore the implications and potential of Bitcoin in the traditional banking system.
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I see Bitcoin ETF as a revolutionary move in finance. Bought a lot in October, recently sold $200,000 worth for cash. If you missed this, listening to bad news all year cost you some incredible profits.
ALT The Bitcoin ETF introduction marks a revolutionary step in finance. Buying significantly at the October low paid off as I recently sold $180,000 in cash. Apologies to those who missed out; listening to bad news throughout the year led to missed incredible profits.
I agree. This is why I work with an investment advlsor, I currently have $630k in a well-diversified portfollo that has experienced exponential growth.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Her name is “Annette Christine Conte” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
What is being discussed here is what is already exactly happening in Singapore.
So we end up with the same sht like we have now? Fractional reserve bitcoin.
I wonder how this would work. Fiat based on BTC? It's unclear how you would directly do fractional reserve on BTC as there's a fixed supply
1 milion satoshi fractional btc
IF the power outage on Friday had taken down all the Banks, BTC with small blocks would have been useless and unusable
Satoshi created A Peer-to-Peer Electronic Cash System, BTC with small blocks no longer represents A P2P Electronic Cash System
The outage could have been a test run for a Really Big Outage...
BTC has created a new narrative as a digital Gold or store of wealth, which deflects from the fact that it wouldn't work as a currency IF we see a world wide outage of legacy financial systems.
Bitcoin Cash is there ready to pick up the miners, the users and the MCAP as The P2P Electronic Cash Bitcoin
You don't understand what Fractional Reserve Banking (and Bitcoin) are. Can they still have a *massive,* complex web of derivatives based on Bitcoin? Yep, but the underlying, superior asset - Bitcoin, will remain intact. Those that own some of the 21 million BTC will have the true (secure) economic power. All the rest will be what it is today, i.e. made up ways (that should be illegal) to grab as much of the fake money (fiat currency) that shouldn't exist, as they possibly can. It really is the world's largest Ponzi Scheme. Those near the top suck up much of the purchasing power of the newly created debt (currency), and we get the scraps and the national debt bill to repay, and the cycle repeats, _in perpetuum._ Until it doesn't. Until the Ponzi Scheme collapses under it's own weight/debt, and that's what we're seeing now.
The whole scam here is (us) believing they're creating something from nothing. That 'this' TRILLION dollars is just as "valuable" as the last $35 trillion, and the next $10 quadrillion will be wonderful, too. Even energy itself can't be created, it can only change from one form to another. That's the first law of thermodynamics. Bitcoin is a form of some of that energy. It started as electrical/computational energy that came from solar, or the stored energy in "fossil" fuels, whatever. The Bitcoin is now incredible, stored economic energy. No more Bitcoin energy can be created either, it can only be mined/unlocked from the finite amount of 21 million.
Read 'The Great Taking' by David Rogers Webb. You can get the free PDF at 'TheGreatTaking com,' and you can find the (free) audiobook on RUclips, Rumble, and a few sites. DRW also has a 1-hour+ video (RUclips) that's based on the book. The people that have debt are in for a *MAJOR* shock. Like they (WEF & others) were saying a few years ago, _"You'll own nothing and be happy."_ Many will own nothing, but I assure you, they won't be happy!
'They' want to create a world where everything (including us) is tokenized, and guess who gets to own it all? We'll be perpetual renters......of everything we need, and the things we want, if/when we're _allowed_ to have them.
The name of the book should give you an idea of what it's about. If not, here's the first paragraph of the 'Introduction.'
"What is this book about? It is about the taking of collateral, _all of it,_ the end game of this globally synchronous debt accumulation super cycle. This is being executed by long-planned, intelligent design, the audacity and scope of which is difficult for the mind to encompass. Included are all financial assets, all money on deposit at banks, all stocks and bonds, and hence, all underlying property of all public corporations, including all inventories, plant and equipment, land, mineral deposits, inventions and intellectual property. Privately owned personal and real property financed with any amount of debt will be similarly taken, as will the assets of privately owned businesses, which have been financed with debt. If even partially successful, this will be the greatest conquest and subjugation in world history."
Will it work? Who knows? Will they actually try it? I'd bet on it. After 64+ years on the planet, it appears to be the predictable course for things to take. When you already have tens or hundreds of billions of dollars, what else is there to take? What everyone else has, too.
@@geoms6263 I don't think you are talking about the same thing haha
Forget custody, we need a BTC bank that lends against BTC as collateral since it’s pristine collateral. Unchained wants 20% lol, should b less than LIBOR since there is zero counterparty risk
At 4:30 he hits the nail with a sledgehammer. BTC is the solution for the saver/investor, and it is also going to allow some of the smarter banks to survive the coming tsunami of defaults, bankruptcies, etc.
Decentralization 🚀
SAM 🎉🎉🎉🎉🎉
What you predict fits just perfectly with what you want and therefore there is a bit of a bias. I believe you're right but that's what I want too so I'm biased. When I look at the facts of limited number of Satoshi's and other things it seems like it must be true that Bitcoin will be highly sought after and valuable, but that's what I want so I'm tend to be a bit biased and need to focus on that issue. The main question therefore to me is when will this all happen in 30 years and 50 years and 100 years at the next having at the ETF for the next crypto? When will this happen.?
I should have learned Morse code. The guy in the middle is trying to say something with all that blinking he’s doing.
How about decentralized Bitcoin banks?
Like a self custody wallet?
Fedimints.
IF the power outage on Friday had taken down all the Banks, BTC with small blocks would have been useless and unusable
Satoshi created A Peer-to-Peer Electronic Cash System, BTC with small blocks no longer represents A P2P Electronic Cash System
The outage could have been a test run for a Really Big Outage...
BTC has created a new narrative as a digital Gold or store of wealth, which deflects from the fact that it wouldn't work as a currency IF we see a world wide outage of legacy financial systems.
Bitcoin Cash is there ready to pick up the miners, the users and the MCAP as The P2P Electronic Cash Bitcoin
A bit off topic, but I can't find any info on how to do this... How can I transfer USDT from an Okx wallet to binance? There's only the initial phrase, nothing more: head isolate sound end kit industry choice festival limit stable dolphin derive. It doesn't work for me, the address doesn't accept it... I'm afraid to screw up.
You already screwed up. Never share the 12 word phrase online. Educate yourself
On banks loaning "risk free" ... I thought they had to record a liability with their Central Bank for each loan. I assume the liability doesn't get washed away if the loan goes bad, providing an incentive for the banks to loan to creditworthy people? Any thoughts?
All depositors are unsecured creditors, especially our Bitcoin.
Yes!! Numerous countries are buying Bitcoin SV around the World!! Terra node transaction speed is a minimum of a million transactions a second and nothing comes close to the scalability or technology. Go Bitcoin SV
I wonder what the best opportunities to invest now are, there are opinions but a little later I find out these opinions don't matter as a totally different turn of events play out with the stocks they discussed therein...
Please how do i go about it, am still a newbie on investment trading and how can I make profit?
Finding yourself a good broker is as same as finding a good wife, which you go less stress,you get just enough with so much little effort at things.
Yeah, 253k from Shannon Harper, looking
up to acquire a new House, blessings.
60% bitcoin, 30% Ethereum, 10% meme was good start imo
Headline: Banks buy record number of Bitcoin….price trades sideways for years.
If that plays out it would be fire!!! Lucky Eric wins 1 million dollars. He immediately buys bitcoin at HSBC and gradually loans a few dollars back too cover his expenses. All the bitcoin maxis do the same, which pumps the BTC price, which makes more bitcoin maxis. So much more convenient that having to self custody and sell a bit from time to time, which incurs Capital Gains Tax anyway.
Here is an idea: Mutual insurance companies, savings banks & credit unions potentially could take the lead in using BTC as some of their Tier One assets. 🤔
Will FDIC insure Sats?
No. Bitcoin is a bearer instrument. You would need an insurance policy from a legitimate 3rd party.
No because the government couldn't just print the bailout money.
@@Ned-bw5tt precisely
Fiat is literal sorcery conjured out of thin air
Bitcoin is the hardest asset known to man
I love Fiat banking because I'm close to the printer. Share one day it'll be too much too often too far but it's not today. I'll just get richer and richer stand close to the printer and my family will get lots of property and it'll be good for me and mine.
Nah I don’t think so. They won’t let go of power
Just wait until they and insurance companies get into an annuity based bidding war. This is how they swallow up the sub 1BTC holders once the supply shock bites. Tip, when you take deal, benchmark the annuity not in fiat, but against a basket of RAW to keep PPP. I've not done the maths but if you are 60+ and the banks are looking at a next 10 year CAGR of 40,50,60%, there will be some sweet sweet deals out there...."Give us that 1BTC worth $200K, and we'll give you $80k indexed for life..." BTC at $1M, yes I'll let them have 0.2BTC for a chunky annuity.
Well, boys, in the fulness of time: a tornado will roar through a junk yard and when it dissipates there will be a jumbo jet.....
It trips me out.
The number behind bitcoin, or shatoshis account, stuck. It just worked. it somehow worked.
bitcoin being there before hand, though we could mention AI and even past present and future, its insane
"Bitcoin is the greatest distraction from the greatest disruption that is coming to financial services" - Franklin Templeton President and CEO Jenny Johnson
Elon will be the 1st to open bank that allows custody of BTC. 🤞
He’s an actor owned by the bankers. He loves himself some dirty fiat.
10:42 Seeing this in the next 5-10 years is too bearish. If Bitcoin is what we know it is, it will have grown so much exponentially in 5-10 years that the banks would have already been on board lending against this prestige asset. It’ll be more like 2 months to 5 years
BTC Will zero out. It’s a Dino.
so much for not being controlled by govt or banks 😂
Lol
Don't forget about other currencies,like Doge 🐶 coin which is a Bitcoin dress like a dog.
Are you crazy?
i don't want to put these guys down when they are in the Bitcoin space; however, just listening to two of them speaking on Bitcoin, the difference with Michael Saylor is obvious. Saylor speaks so clearly and precisely generally without all these stops and stutters and clarifications and sideways steps, he is so much easier to listen too and that makes him easier to understand.
I don't think aney bank are gowing to use bitcoin in that way becaus the value is so volatile you give a loan and bitcoin drops 50% wats the bank gowing to do wait till the bull run hoping it gowes up again your idea will not werk for bankes
(DOG) GO TO THE MOON 50X 🚀🐶🌕
MEME OF BITCOIN
IF the power outage on Friday had taken down all the Banks, BTC with small blocks would have been useless and unusable
Satoshi created A Peer-to-Peer Electronic Cash System, BTC with small blocks no longer represents A P2P Electronic Cash System
The outage could have been a test run for a Really Big Outage...
BTC has created a new narrative as a digital Gold or store of wealth, which deflects from the fact that it wouldn't work as a currency IF we see a world wide outage of legacy financial systems.
Bitcoin Cash is there ready to pick up the miners, the users and the MCAP as The P2P Electronic Cash Bitcoin
"Bitcoin is the greatest distraction from the greatest disruption that is coming to financial services" - Franklin Templeton President and CEO Jenny Johnson