nobody on Nostr: A precious metals and fiat over BTC person sent me the YouTube video “Nobody Is ...
A precious metals and fiat over BTC person sent me the YouTube video “Nobody Is Expecting What’s Coming | Bob Moriarty” having a thumbnail “MOST WILL BE SHOCKED WHEN BANKS FAIL”
YT video = youtube/fRFRCppHLe0
My response…
this is an interesting piece - i can share that 'retail' banking (the way Bob Moriarty explains it it sounds like all banking is going to disappear) is being replaced by **decentralized** banking driven by 'layer 2' BTC technology (the 'Lightning Network') and/or **centralized** CBDCs. seems like Bob Moriarty needs to educate himself on hard money as well as the difference between custodial and non custodial digital currency, the difference between crypto and BTC as well as read 'The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous'. or... Bob Moriarty can invest in hammers and chisels so that, when/if he finds someone (when retail banking has failed) who wants to trade goods/services and would be willing to accept a piece of his precious metals (instead of BTC in a world where retail banking has failed), he can break off a piece each time he is ready to trade LOL - my thesis is when retail banking fails to be replaced by layer 2 BTC technology and/or CBDCs (i'd guess which one you're more likely to face will depend on where you are in the world and if you learned BTC before the transition or not) folks with actual money are not going to be interested in guys with hammers and chisels and instead will be wanting decentralized hard money to be able to efficiently transact locally, nationally, and abroad.
YT video = youtube/fRFRCppHLe0
My response…
this is an interesting piece - i can share that 'retail' banking (the way Bob Moriarty explains it it sounds like all banking is going to disappear) is being replaced by **decentralized** banking driven by 'layer 2' BTC technology (the 'Lightning Network') and/or **centralized** CBDCs. seems like Bob Moriarty needs to educate himself on hard money as well as the difference between custodial and non custodial digital currency, the difference between crypto and BTC as well as read 'The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous'. or... Bob Moriarty can invest in hammers and chisels so that, when/if he finds someone (when retail banking has failed) who wants to trade goods/services and would be willing to accept a piece of his precious metals (instead of BTC in a world where retail banking has failed), he can break off a piece each time he is ready to trade LOL - my thesis is when retail banking fails to be replaced by layer 2 BTC technology and/or CBDCs (i'd guess which one you're more likely to face will depend on where you are in the world and if you learned BTC before the transition or not) folks with actual money are not going to be interested in guys with hammers and chisels and instead will be wanting decentralized hard money to be able to efficiently transact locally, nationally, and abroad.