Cryptocurrencies

With its “Digital Fiat Currency” VISA miserably tries to copy Bitcoin – Cryptocurrencies

The Visa payment system – 3 billion bank cards – works on a Blockchain. It’s as if Marlboro is producing nicotine patches… Armies of developers have broken their teeth on Bitcoin only to discover that bank money and cryptocurrency are as irreconcilable as water and oil.

VISA patents the Blockchain…

You had to think about it! After all, there are even some who are not shy about patenting the living… #Monsanto

Visa has just filed a blockchain patent for fiat currencies whose nodes would be the banks. You really had to invent it! A blockchain of monkey coins… On the verge of inventing the stablecoin !

Visa follows in the footsteps of central banks by maintaining the mix between Bitcoin and CBDC (Central Bank Digital Currency) with the ulterior aim of making Cash disappear. We can thus read in the patent that:

“The payment ecosystem could become fully (100%) digital. According to various embodiments, cash could be withdrawn from circulation […]. Users will be able to hold digital currency with the same denomination as banknotes (for example, $ 100 for user A in America; 200 pesos for user B in Mexico). “

VISA patent “DIGITAL FIAT CURRENCY“

The shenanigans of Big brother spread out in broad daylight. His big money men are all at work trying to disguise the end of cash in “cryptocurrency”. After stopping production of the 500-euro banknote, the disappearance of almost 2000 ATMs per year, the ban on paying in cash when the amount exceeds 1000 euros, now the bankers would like to disguise their counterfeit money as ” cryptocurrency To realize their dark design …

This is not a pipe

We try to make us take bladders for lanterns but the string is a little big …

After leaving the project Libra of Facebook, Visa sets itself the new objective of crowding out the SWIFT company which manages since the 1970s all transactions crossing borders.

But no giant in the financial piping sector can ever create a “blockchain” that can truly overshadow Bitcoin who is a currency as well as a payment system. Two in one. This characteristic of the Blockchain makes it absolutely incompatible with the “modern” monetary system.

Indeed, there are as many different euros (theeuro BNP, thereeuro Societe Generale, etc.) that there are different banks. The reason being that some banks are closer to bankruptcy than others …

We have banks on the one hand and an absolutely separate system on the other allowing transactions between banks in different currency areas (The SWIFT network).

Building a blockchain over the global financial gas plant is a fantasy that the founders of shitcoin are also working on XRP

However, adding pipes will only increase the vulnerability of the system and the ECB does not say anything else. Do not miss our paper on the subject. This lack of enthusiasm is also palpable at VISA if we believe the storm of tweets from Cuy Sheffield , the Mr Crypto from VISA.

Cuy Sheffield advances in his thread that the CBDC could take two forms :

  • Digital Cash
  • A payment system

We find the duality highlighted above.

Bitcoin, the central bank puzzle

Sheffield doubts that central banks genuinely want to put a CBDC into circulation directly to citizens. This echoes the latest report from the firm R3 (April 2020) which states that the idea of ​​a CBDC accessible to all has been forgotten.

And for good reason. Bankers have realized what Sheffield poses as a rhetorical question in his thread:

“If a central bank issues CBDCs, how will they explain to their customers the difference between a CBDC and their regular bank account which is also in the form of digital money? “

The CBDC is a stillborn project. Hence the choice to focus on a kind of catch-all blockchain for compete with the SWIFT network sprinkling its ambition with a “Blockchain” which only has the name …

We go around in circles and always come back to the fundamental difference between Bitcoin, CBDC or any other pathetic chimera wanting to imitate the original Blockchain.

The Bitcoin blockchain is one and indivisible (so to speak …) while there will be as many “CBDCs” as banks. Bar point. #JPMCOIN

So here are some attributes that are the preserve of Bitcoin:

It consists of a fixed money supply (21 Million) making him a currency anti-inflationary. Banks will never adopt a fixed quantity currency because their raison d’être (slavery by debt, interest and inflation) would disappear … In a world where only Bitcoin would circulate, prices would automatically adjust to demand that could NOT be artificially inflated by Ponzian debt …

It allows instant payments. Bitcoin allows you to transfer billions instantly using a few cents. A tour of which the banks are incapable of part very nature of their monetary creation based on a fractional reserve system.

No one can steal your Bitcoins. They absolutely belong to you (if you keep them on your own wallet). No need to ask the banker’s authorization to withdraw your money …

This is a significant asset when you know that global growth loses 1% every decade. Or even when we remember that the imminent peak oil promises a forced decay. Indeed, the debt has a vital need for growth. To put it another way, banks will sooner or later go bankrupt by taking your savings with them. In one way or another (Bail-in, inflation, negative interest rate, bankruptcy)…

“If the population understood the banking system, I believe there would be a revolution before tomorrow morning. ”

Henry Ford

The banking system is an old scam set up to vampire our work through wear and tear, money printing and inflation. Cryptocurrency is the Nemesis of the Banking System and the CBDC – which will most likely never see the light of day – is an unexpected advertisement for Bitcoin.

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