Crypto currency

Baron Samedi

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October 04, 2021

Federal Reserve Board announces the Reserve Banks will adopt a new message format for the Fedwire® Funds Service and invites public comment on proposal to expedite adoption​


For release at 2:00 p.m. EDT



The Federal Reserve Board on Monday announced that the Federal Reserve Banks will adopt the ISO® 20022 message format for the Fedwire® Funds Service. The change will allow for enhanced efficiency of both domestic and cross-border payments, and a richer set of payment data that may help banks and other entities comply with sanctions and anti-money laundering requirements.
The Board also invited public comment on a revised plan for migrating the Fedwire Funds Service to the new message format. Specifically, the Board is proposing that the Reserve Banks adopt the new message format on a single day, rather than in three separate phases as previously proposed.
The Fedwire Funds Service is a real-time gross settlement system owned and operated by the Federal Reserve Banks. It enables businesses and financial institutions to transfer funds quickly and securely.
The ISO 20022 format was developed by the International Organization for Standardization, which is an independent, non-governmental organization that publishes standards for a broad range of industries.
Comments are due 90 days after publication in the Federal Register, which is expected shortly.
For media inquiries, call 202-452-2955.


ISO compliant cryptos are;

ALGO
XRP
XLM
XDC
IOTA
 

Baron Samedi

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CONGRATULATIONS Bitcoin!!

New ALl Time High today, and congrats to all Bitcoin holders! (y)
(y) (y)

$66K+ today.

My nightmare, in a way...since I literally had my finger on the button to buy Bitcoin at $27 once, and didn't do it.
 

patfan64

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Shiba Inu is blasting right now. I had 300,000,000 tokens at one point (would be worth around $20,000 right now) but converted some to another token and did very well. I don't regret getting out but I do love the feeling when a token that I own moves like this.
 

aloyouis

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Sold it all last week with the exception of about 12,000 Amp. ($250 total).

My fantasy that it goes to $100 some day. Need to get the meme dolts on Reddit to take a liking to it. LOL.

Never gonna happen, but if it does...
 

Big/Sky/Fly

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CONGRATULATIONS Bitcoin!!

New ALl Time High today, and congrats to all Bitcoin holders! (y)
(y) (y)

$66K+ today.

My nightmare, in a way...since I literally had my finger on the button to buy Bitcoin at $27 once, and didn't do it.
I should have invested a few grand in BTC when it came out. I was there in the first year. Sighs...

I have BTC now, but, never bought any until it jumped.
 

Baron Samedi

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Just a personal opinion, the crypto market has been strong over the last week or so...I have a feeling the next Running of the Bulls is right around the corner, before year end.

One or two more pumps and retracements, and then it's off to the races. I can feel it.
 

Baron Samedi

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Evergrande officially defaults on it's debt.

Now, we are on tsunami watch....will it come, or won't it?
 

Baron Samedi

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This is big!

This essentially means that Ethereum is in huge trouble, not because of Cardano specifically, but Cardano is the canary in the coal mine...the gas fees on Ethereum are going to kill it, any "new blood" coming into the NFT or smart contract space is going to select the faster and cheaper alternatives.

This is why I am into Bitcoin, but won't touch Ethereum except for a couple of alts that are on chain.
 

Big/Sky/Fly

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This is big!

This essentially means that Ethereum is in huge trouble, not because of Cardano specifically, but Cardano is the canary in the coal mine...the gas fees on Ethereum are going to kill it, any "new blood" coming into the NFT or smart contract space is going to select the faster and cheaper alternatives.

This is why I am into Bitcoin, but won't touch Ethereum except for a couple of alts that are on chain.
The gas fee for making NFT's initially is nuts!...but, in Open Sea anyway, it's only once.
 

patfan64

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This is big!

This essentially means that Ethereum is in huge trouble, not because of Cardano specifically, but Cardano is the canary in the coal mine...the gas fees on Ethereum are going to kill it, any "new blood" coming into the NFT or smart contract space is going to select the faster and cheaper alternatives.

This is why I am into Bitcoin, but won't touch Ethereum except for a couple of alts that are on chain.
I think the hope for ETH lies in ETH2 which will dramatically reduce gas fees (or so we hear).

Any time a coin forks like that, though there seems to be issues right away.

We shall see.
 

Baron Samedi

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I think the hope for ETH lies in ETH2 which will dramatically reduce gas fees (or so we hear).

Any time a coin forks like that, though there seems to be issues right away.

We shall see.

Right.

I am personally skeptical of ETH 2.0, for a variety of reasons....listed below;

1. Other blockchains are already equal to or superior to what ETH 2.0 hopes to accomplish, and they are already working.

2. ETH 2.0 is a major hard fork. I anticipate problems. I could be wrong. I hope I am wrong, because I don't want anyone to lose money....but MY money is largely invested as a bet against ETH 2.0, so I am laying money that it will not meet the expectations it has.

3. ETH 2.0 is an upgrade by way of "Sharding". Well...we have sharding blockchains already, such as ZIL, and we know the weaknesses, chiefly that sharding, while it does a great job of scaling to meet demand, is more vulnerable to 51% attacks, and gets more vulnerable the more it scales, because you can attack the chain one shard at a time. THIS, in my mind, is why ZIL has essentially gone nowhere. I am a fan of the blockchain, and had bought it, but after doing some reasearch, I flipped it. The reason being, that no "big money" wants to be on a shard. That will draw 50% attacks like moths to a flame.

Feel free to correct me if my impressions are wrong. I am still a student of blockchain tech.
 

Big/Sky/Fly

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Right.

I am personally skeptical of ETH 2.0, for a variety of reasons....listed below;

1. Other blockchains are already equal to or superior to what ETH 2.0 hopes to accomplish, and they are already working.

2. ETH 2.0 is a major hard fork. I anticipate problems. I could be wrong. I hope I am wrong, because I don't want anyone to lose money....but MY money is largely invested as a bet against ETH 2.0, so I am laying money that it will not meet the expectations it has.

3. ETH 2.0 is an upgrade by way of "Sharding". Well...we have sharding blockchains already, such as ZIL, and we know the weaknesses, chiefly that sharding, while it does a great job of scaling to meet demand, is more vulnerable to 51% attacks, and gets more vulnerable the more it scales, because you can attack the chain one shard at a time. THIS, in my mind, is why ZIL has essentially gone nowhere. I am a fan of the blockchain, and had bought it, but after doing some reasearch, I flipped it. The reason being, that no "big money" wants to be on a shard. That will draw 50% attacks like moths to a flame.

Feel free to correct me if my impressions are wrong. I am still a student of blockchain tech.
In my opinion, all crypto/s are almost NEVER a simple buy and hold. I would definitely have a getaway strategy. I would put a mental stop loss number in place to get out if things go wrong.
 
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Baron Samedi

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View: https://twitter.com/business/status/1468862751003090946?s=20


Finally, this has dragged on too long.

I am officially broke for Christmas, because I bought the sh*t out of this dip. Nothing new, just more of the same...XLM and Algo. ISO20022 goes into effect in 11 months, and between now and then, I am going to keep packing my ISO compliant crypto bags.
 

Flagg the Wanderer

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Baron Samedi

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What a fustercluck this has been, and will be. What's going to be interesting is when Wall Street starts to turn on Chinese companies first, and incrementally against companies who are exposing themselves to pain from the Party as JVs, with their IP, or trade secrets.

The good news is, I think that the Evergrande default is already priced into the markets. We'll see.
 
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