Lars rode bitcoin

Bafin-Chef: Bitcoin (*) ist für uns alle Neuland hatte am Montag der dänische Zentralbankchef Lars Rode gefunden: „Bleiben Sie weg.
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Table of contents. Form 4 or Form 5 obligations may continue. See Instruction 1 b. Title of Security Instr. Transaction Code Instr. Nature of Indirect Beneficial Ownership Instr.

Title of Derivative Security Instr. Conversion or Exercise Price of Derivative Security 3. She most likely does not have great banking services where she works as an overseas foreign worker. Therefore, purchasing goods from foreign countries over the internet is difficult. With Libra, there is no issue.

The merchant in Europe receives payment in a basket of fiat currencies they already deal with. Facebook or a new financial services company it creates, can issue loans at the point of sale denominated in Libra. A user can opt-in to allow Facebook to use all its data on the individual to compute a credit score. Using that credit score, Facebook will lend Libra at a rate to purchase goods from merchants selling on the Facebook platform.

Voila, the poorest members of our global society can experience the joys of purchasing mass-produced Chinese knick-knacks on credit. Welcome to Pax Americana! Commercial banks make money lending. They use retail deposits to make these loans. Unfortunately, in this digital age, they no longer have the best information set about these retail depositors. The social media companies do.

Libra and the plethora of copycats to come, allow technology companies to use a digital fiat representation in their ecosystems to extend credit and offer all of the most profitable banking products at a much lower cost. These global tech behemoths have billions of free cash flow on their balance sheets to lend.

Commercial banks can become node operators or regulated warehouses for the reserve assets of the stablecoin in question. There is still economic value in both of these verticals, but consumer technology companies will now sell the most profitable financial products themselves. Any bank should be on notice, Libra and its clones are existential threats to their business models. But maybe society is trading one devil for another. Commercial banks are not needed at their current largesse in a digital economy.

INNOVATION PARK

With Libra, Facebook is assuming the role of a central bank. The Libra reserve is managed by a third-party foundation. The reserve managers choose the fiat currency weights, and how funds are invested. Sounds a lot like the job scorecard of a central bank governor. Consumer tech companies can now issue, from their own balance sheet, credit directly to consumers. The only difference with this model is that they, for now, are not able to actually create money like commercial banks.

This is the flow: 1. Take retained fiat earnings, and exchange for Libra with an authorised primary dealer. Lend Libra to your customer in exchange for a good or service you offer. Sell Libra in exchange for fiat with an authorised primary dealer. The money supply does not expand.

That is the one major divergence from how a central bank issues credit into an economy. Why trust a few crusty old men and women to manage the monetary health of the global economy. The speed at which government officials rushed to admonish Libra tells you there is some potential positive value to human society embedded in the project.

It is amusing to see how many people rushed to complain about the potential loss of financial freedom Libra could represent. This fear is misplaced, financial privacy is already non-existent, nor will it ever exist in a digital fiat money system. The great thing about the launch of Libra is that it forces those concerned about the loss of financial privacy to explore alternatives.

Bitcoin and other cryptocurrencies will benefit as curious plebs contemplate how secure financial privacy in this new digital age. Libra and the conversations it sparked, is the best news for Bitcoin. Two billion people will now embrace and potentially be frightened of a corporate overlord controlling their financial wellbeing.

Curiosity is the best food for the Bitcoin bull market. Through their investments in augmented and virtual reality, it appears that Facebook wishes to create a completely new digital world. Libra could be the financial mana that powers this virtual existence. Please Zuck me gently, and Zuck me long time. BitMEX offers a variety of contract types. All contracts are bought and paid out in Bitcoin. If it is determined that any BitMEX user has given false representations as to their location, incorporation, establishment, citizenship or residence, or HDR detects a user is from a Restricted Jurisdiction as described above, HDR reserves the right to immediately close their accounts and liquidate any open positions.

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The content of this blog is protected by copyright. Sign in. Log into your account. Password recovery. BitMEX Blog. Forgot your password? Get help. Why Do Commercial Banks Exist? Whoever has the customer, has the value Previously banks held the most valuable information about customers. Libra Deconstructed Libra is a stablecoin backed by a basket of fiat currencies. Impact on Commercial Banks Commercial banks make money lending.