Are Stablecoins a Threat to National Security?
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- Опубліковано 2 лип 2024
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🎬 DEBRIEF | Ryan & David unpacking the episode:
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Are stablecoins a threat to national security? How should the US government step in?
We brought Timothy Massad, the perfect guest to help us answer these hard questions. He was the Obama appointed chair for the CFTC, the guy who helped designate Bitcoin as a commodity over 10 years ago.
We touch on:
- The importance of stablecoins.
- How stablecoins compare to eurodollars.
- Weather crypto and sanctions can co-exist.
- A sensible policy for stablecoins.
- And finally, his thoughts on what happens next.
Timothy brings a whole different perspective from what we’re used to in our crypto bubble. That’s exactly why you should tune into this episode.
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TIMESTAMPS
0:00 Intro
6:34 Timothy’s Background
9:30 Security vs Commodity
12:46 Stablecoin First Impressions
21:42 The Importance of Stablecoins
28:26 History of the Eurodollar
38:46 Economic Sanctions
47:47 Stablecoins and Sanctions
1:08:59 A Stablecoin Future
1:13:37 A CBDC Future
1:18:49 What about Privacy?
1:20:58 The Role of the Dollar
1:23:18 Stablecoins Abroad
1:25:43 Predictions
1:28:10 Closing & Disclaimers
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RESOURCES
Timothy Massad
x.com/timmassad
Stablecoins and National Security by Timothy Massad
www.brookings.edu/articles/st...
Five Perspectives on Stablecoins by Nic Carter
/ five-perspectives-on-s...
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Not financial or tax advice. See our investment disclosures here:
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The problem is, the American citizens have different values than the American government
The American government's first value is to protect its right to the money printer. The American citizens realise that this advantage is not sustainable in America and around the world.
Coup attempts, tax fraud, rape charges and kowtowing to Putin? . Yes thats true. We dont need that. Crypto pandering seems to be enough for this crowd unfortunately
It’s not a problem until it is.
American citizens were naive, but they’re starting to reach levels of noticing never seen before
So true, this guy talks like a politician.
Ability to know who is transacting? Back in the day when Escobar was a billionaire, none of the dollars he got into south america were labeled.
he wants to spin the control narrative n ppl eat it up cause numba go up, pretty pathetic
Bullish on AMS400K ecosystem. Exciting developments in the works. AMS400K is one that sticks out 👍
AMS400K going up like crazy! Pick up around 0.67 and now it’s hit $1! I wish i had bought more!😂😂😂
love all these interoperability plays. Currently have a small bag in AMS400K. I would love your thoughts on this one as you metioned it ealier.
Decentralized identity where the individual owns their identity and data
Agreed.
And cryptographically private.
Thanks for sharing PEPE and AMS120X. 💯
Back in the days of gold, in the land of the free and the brave, people could transact with anyone at anytime. That's freedom isn't it?
no, that was wild west Sir .
Also, the people with money stole and bought up all the land where gold was found and monopolized it..
Why everyone is talking about AMS120X?
Scam bots.
My investment portfolios are Bitcoin, ETH and AMS120X
Superb discussion. Really enlightening to hear so many diverse perspectives on Bankless. I believe we can thread the needle on privacy & national security. Digital IDs sound unappealing initially, but combined with ZK proofs & privacy pools where the identity that gets exposed is the minimum necessary to complete high stakes transactions seems like a reasonable way to go. Such a scenario wouldn't even necessarily require ID exposure, just confirmation of being among an anonymous group of non-terrorist financing entities would be a step in an interesting direction.
this doesnt make sense at all and is not at all in line with crypto values. If one state can make laws for a decentralised neutral base layer, it is not such a thing. Most criminal transactions are made with us dollar. This wont change. Building an argument for controlling everything to catch a few bad actors is never efficient and never the truth.
I always find it strangely sobering when the concept of US values is brought into a financial context, somehow implying that the conservation of the USD as world reserve currency is intrinsically linked to some type of nobel values, which „non-allied“ countries lack almost per definition. Crypto mass adoption will need a lot more discussion on this topic and a new generation of leaders who do not see differences in cultural values as barrier to peaceful coexistence.
RSA did his homework as usual. Great questions!!
Revux's commitment to a transparent fee structure is refreshing. No hidden costs - just what the crypto community needs!
OMG I thought he was Gary Gensler at first
The "A Stablecoin Future" chapter was a GRC (Gross Reality Check)
There is a need... to have a legal mechanism to dispute a transaction... and a consensus mechanism to resolve it.
Thanks Tim . A wonderfully open and informative discussion ❤
America always talking about values but it means hegemony, it is all about dominance.
The US government is no Angel.
They keep starting wars for hegemony while talking about values that don’t exist in their foreign policy.
Well done, guys!! I really enjoy and learn a lot from your conversations with people who give insights into the reasoning behind our existing institutions and financial practices. More interviews like this, please.
The integration of Revux into mainstream payment gateways is a strategic move with significant potential. Well done!
What happens to your coins if you bought with a USDT pair (ex. XDC/USDT) and Tether gets rugged. Would your XDC now be in jeopardy?
The algorithm pushes this channel to me after any video I watch
Question - stablecoins are supposed to be pegged to each countries’ fiat currency. This gives us something familiar to relate to. But what is going to happen when fiat currencies no longer exist (they will die out like CD’s did!)??
Has anyone wondered how they will be ‘kept stable’ or have their value pegged to anything?
Exactly. California is trying to go cashless. Imagine if they do, and only use stablecoins
It seems it is always a matter of trust. A lot of people have had trust in gold for a very long time now though, but trust can come and go.
With the advances of Science & Tech creating and maintaining superabudance can render money obsolete.
This episode clears up a lot for me in understanding the euro dollar and stable relevance
Appreciate the guests time. Good show.
Basically "The current way gov work is by knowing everything you do, if you are saying there's a chance that someone could have some financial privacy that's an issue." Maybe need to tackle root cause rather than symptom.
Mega Dice Token's eco-friendly approach is spot on, mate! 🎲💚
The EZB has already a date for the introduction of the Euro stablecoin for all crypto exchanges.
Europe wants to ensure the US dollar stablecoins do not undermine their local markets.
They want stanlecoin issuers buying Euro debt not US debt
Great epsidoe, as always.
Great episode. I do love your chain-agnostic content.
What makes US entitled to imposing sanctions?
Revux's team is top-notch. Expecting big developments soon!
great interview
People don't understand, the entire point of public blockchains are to host the infrastructure for the future financial system, and that begins with stablecoins which are the basis for digital age banking and the reason the banking system will remain relevant and not be usurped by CBDCs.
Exciting times for Revux - partnerships with major industry players are unlocking new possibilities. This presale rocks...
Love the AMS400K Alt videos. AMS400K has been my biggest position and really love exploring the ecosystem.
Since when was the use of the financial system to create a total surveillance system the emblem of "American values"? What happened to basic privacy rights? How does eliminating these rights advance freedom? Aren't we just laying the carpet for a potentially quiet transition into digital authoritarianism? These politicians who formed their worldviews around 9/11 don't understand how dangerous the strategies advanced back then become in the face of technologies like AI and crypto.
This is Gary 2.0 dont get bamboozled.
this
Thanks, I've learnt a lot Mr Massad perfectly explains why crypto will not thrive until it is 100% controlled and monitored by US regulators. This has washed away some my hopes for total decentralization.
You said you think that a AMS400K will outperform btc. What makes you think this? Are there macoeco, technical, fundimental, or valuation reasons for this?
Kudos to the team for Revux's comprehensive ecosystem. Easy 50x soon.
Wen Larry Fink on Bankless?
Presale vibes with Revux - cool, sleek, and filled with potential.
Revux's roadmap looks promising. Exciting times ahead!
I'm betting AMS400K will perform well, it havent had a cycle yet and they have a strong community on both, and AMS400K update will make rollup fees even lower. Just my 2 cents. Great video goodvibes
Keep up the good work, and yes, please do more deep dive into AMS400K.
Nice work. I’ve been on the AMS400K train for a while, never sold as they are always building.
Why is everyone so anxious to preserve the dollar as the world reserve currency when having the dollar as such is the primary reason for the hollowing out of the middle class in the US?
it secures our global power? if we didnt have the us dollar as the world reserve currency we would be much weaker
You are describing AMS400K on ethereum. It checks all the boxes and has perfect price for entry this weekend.
I get the natl security argument and all...Tim said the thing that what worries him is other nations moving away from the $$ for transactions. I'll argue that it is the US government's actions precipitate the move from the $$ not stablecoins. In fact, stablecoins is an antidote to the messy actions of the US goverment
Just increased my holdings in Revux. Feeling confident about this one!
AMS400K isn't shooting for US companies. They are building something far more sophisticated than Solana.
Do it. AMS400K already in my bags. I had a AMS400K after ( your should I buy ) and I agreed and bought. I'm looking to stack more, too.
one of the most interesting episode
Its NOT a group of people that are in charge the merge and the DAO fix were driven by the entire community. 90% of nodes in the DAO and 99% of nides for the merge accepted the change. Ethereum wanted to be PoS from the beginning
I think he doesnt quite understand how blockchain development works. The forks had no traction. What about Segwit on Bitcoin and Taproot. How come those upgrades are perfectly ok. But Eth upgrades its a group of people. Yes this group of people is the community namely US
Whatever doesn’t conform to the ideology is a threat to national security.
thanks for bringing up AMS400K pair - Watching all your videos when I get notified
Been tracking Revux's development. Impressed with the progress!
A great guest.
That's a solid list! I'm also big on AMS400K , avalanche, algo, and matic too.
Revux stands out in the crowded crypto space. A real gem!
AMS400K to the moooon 🚀. AMS400K will hit 1bn marketcap soon, its volume is insane. Binance or coinbase listing might be soon🎉🎉
Banks can't keep even their own books clean, but stablecoin issuers need to monitor every coin that is on open market?
Revux's AI-driven investment approach is what the financial world needs right now.
Presale alert: Revux is turning heads with its cool approach to decentralized finance. Jump in before it's too late!
Always interesting analysis. But I am DCAing into my AMS400K alts anyway
Presale fever is real with Revux - the coolest project in town
Hey Fellas, they did approve the $ETH ETF! 🎉
Wasn't Alex Becker a private investor for Project AMS400K. It's been killing it lately. Do you think it's still got room to move.
Retail should transact in Dero -- it is always private as its always encrypted -- can't see who transacted or the details of the txn
Clearing out all my Alts going into BTC and Revux only, maybe a little BNB and SOL
I am VERY interested in anything you have to say, especially on AMS400K.
Gensler V1.5
institutional buying into AMS400K could totally break the cycle and the peak expectation of end of 2025 will likely spectacularly fail to appear. If the last double peak was odd, the next one will catch most people out again.
Looking forward to the future of finance with Revux
Timothy looks like a good person :)
Just got my RevuxCoin RVX during the presale.
AMS400K is my #1 bet this bull run. Pepe, shiba inu and all the other top memes already had their pump. AMS400K is a coin with utility and outstanding growth of investors.
I guess I am ultra risk lover. Even though I don't hold meme coins, I only hold AMS400K and ETH . Fingers crossed 🤞 🤞
New all time high for Ryan's hairline.
This conversation is so retro, a recap of the corrupt mechanisms that inspired Bitcoin in the first place. The future of global finance uses ETH and is supranational. Stablecoins wull be an option among many, rwa assets erc. But all built on the security of Ethereum. Keep your eyes on the prize boys don't get lost in the labyrinth of the fading shadow game.
agreed
In the next bull run, keep an eye on DOT, VRA, and SOL, but don't overlook Revux's RVX
Kyc and amL laws need to be completely abolished. You'll thank me.later.
Got in at AMS400K at $1 but will be holding it till $50. Even at that price market cap is reasonable for its tech.
The best thing for us dollar supremacy is STOP SANCTIONING
1:24:30 or so , he said I’ll focus on countries who share same value (presumably democracy etc) with us : then he went on to mention Singapore … 😂 does he actually know how Singapore is run ?
Revux's low presale price is a steal. Time to load up!
Or how does the US maintain its stranglehold. Seemed less about freedom and a lot about maintaining US soft power
I buy AMS400K every chance I get, I believe in AMS400K vision and a lot of their goals are completed or getting completed including governance.
Buy ETH then convert to AMS400K. When bull market comes convert to AMS400K. Sell half at $3 and keep the remainder on chain.
Personally, I already started to convert my btc into blue chips, like the AMS400K you mentioned in the video + Solana .
anvl 'bout to run this shizzle
There are no coincidences that we went off the gold standard under Nixon who brokered the deal in which we now have the Petrodollar, which conveniently he failed to provide in his summary of euro dollars. Just like the new digital Dollar system global money is changing and it’s all planned so was the planned introduction of the year old they had to have dollars and circulation over there when we went off the gold standard and the petrol dollar planned low in advance
One word, Revux!
Im fully into AMS400K and ADA, simply huge potential and the technology became better
Best bet for 100x is going to be AMS400K , once its on major exchanges it will explode.
TLDR: crypto is good and the technology marvelous as long as it protects the rules-based-order....
The XRPL passed a claw back proposal coupled with Ripple acquiring METACO for custodial provisions and the announcement of their stable coin RLUSD. Ripple will be featuring the claw back for their clients
Bought AMS400K at 0.88 each, couldn't believe my eyes when I saw it soar past 1$.
So in short you're saying we still have more time to buy at AMS400K discounted prices.