April Halftime Thoughts

Crypto Ponders Of The Week

The United States needs a pro-crypto administration but it’s probably not going to happen because the Federal Reserve is so powerful. They aren't going to want people using a money system they can't control. The Bitcoin white paper was hidden on every Apple computer, a white paper is a document that explains the cryptocurrency and why it was invented. Craig Wright, the dude who thinks he created Bitcoin, says that Apple putting the whitepaper on their computers violates copyright laws. Bitcoin as of right now is been hovering around $29-30k per Bitcoin and is at the peak amount for this year. George on YouTube is still doing his videos twice a day and telling everyone Bitcoin is going to be $200k per coin. I have been reading the book “Cryptoassets” I got for Christmas still and it’s basically a bunch of stuff I already know. Robert Kennedy Jr. came out as a presidential candidate that seems pro-crypto and against Central Bank Digital Currencies, though I honestly don’t think one dude can stop the Federal Reserve's goals. George from CryptosRUs gave me a shout-out or just read my comment on his live stream, pretty cool how in touch with his audience he is. Hard to believe but the people over at FTX ‘found’ 7.9 billion dollars and plan to relaunch the exchange. The Shanghai Ethereum update happened and Ethereum had a 10%+ pump that day.


 Bitcoin Volatility Analysis with Interactive Viz📊 | Kaggle


FedNow Payment System

So, have you ever heard of the Federal Reserve? It's basically like the bank for all the other banks in the United States. And soon, the Federal Reserve will launch something called "FedNow". FedNow is a way for banks to transfer money to each other super quickly and easily. Instead of taking a few days for the money to move from one bank account to another, it can happen almost instantly with FedNow. Sort of like Cashapp or PayPal but for bank transfers now also, because before banks would hold transfer money for a few days and collect interest on your money and then after 3-5 days finish the transfer. The FedNow is really helpful because it means that if you need to pay someone back or transfer money for any reason, it can happen much faster than it used to. Plus, it's really secure, so you don't have to worry about your money getting lost or stolen. One negative thing about crypto is when you want to send funds to someone it needs an address and if you type one letter or number wrong, that money is lost and gone. That's the basic idea behind FedNow, an easy way to send money plus it's just a faster and more convenient way for banks to move money around. The question I have about it is will this new payment system trojan horse a CBDC into America?

 Federal Reserve Hypnotic Spiral | Federal reserve, Federal reserve system, Federal  reserve note


Central Bank Digital Currency Coming Soon?

It has been a rumor but when are we getting the new currency for America? Will the FedNow system work together with a CBDC? If this doesn’t happen before the presidential debates they will be debating if we even switch or not. The Governor of Florida, Ron DeSantis, recently expressed concerns about central bank digital currencies (CBDCs) and their potential to increase government control over citizens. CBDCs are digital versions of national currencies that are issued and controlled by central banks. This would be a society without paper cash but similar to what everyone uses now where most people have their money digitally in a bank and not cash hidden. India is targeting one million users of its proposed central bank digital currency (CBDC) within the first three months of its launch, according to anonymous sources. It may be working in India but for Americans, this will seem foreign and most will go against the transfer. Ron DeSantis is coming out against it and others will once they realize how much control the government will have compared to now. Right now if you send $500 to someone, the government doesn’t care and the only ones who know the $500 was sent are the two banks or accounts involved. With Central Bank Digital Currencies, the government knows the $500 was sent the moment it was sent, so if you are doing shady illegal stuff this will be bad for you. For most, the government knowing you sent your family member $300 won’t matter but it just takes privacy out of money. Will America start a social credit score like China and then also, be tied to the CBDC activity?

 Diving into state-backed digital currencies



BRICS is an acronym that stands for Brazil, Russia, India, China, and South Africa. Each BRICS country has its own set of allies and partnerships, but as a group, they often work together on issues related to trade, investment, and political cooperation. Brazil has strong ties with countries in Latin America and also maintains partnerships with African nations. Russia has close relationships with countries in the Middle East and Central Asia. India has traditionally been aligned with other non-aligned nations and has strong partnerships with countries in South Asia and Africa. This alliance of countries is a direct threat to America and they are trading in their own currencies compared to using the United States dollar. I personally don’t think this new way of trading in the country's own currency means anything because why does the dollar have to be the world reserve currency? The dollar is not backed by gold, it’s backed by the United States and our military.

America has the G7 countries to rely on; the countries include Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. These countries represent some of the largest economies in the world and are major players in international trade, investment, and finance. We are just seeing China create a stronger system for itself to grow. Over the next 10-15 years it will probably be a battle of the G7 vs BRICS, just basically seeing if the United States stays the world leader or China becomes it. It will be interesting seeing which countries use a CBDC backed by gold because China has a lot of gold whereas the United States dollar is not backed by gold anymore.


BRICS Bank to Finance Technological Innovation Projects | Financial Tribune

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