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This Blog Post and the Comments are living proof that Intelligent Discussion isn’t dead… It’s alive and well and the burning trash heap of social media and big search hasn’t engulfed us all.
If any of you have any doubt as to Crypto and Blockchain coming to a store near you, please check out these Interesting Titles for pending legislature in our House and Senate at this current time. Read each proposed bill and take notice of the crafty titles… They sound so innocent, helpful and well meaning don’t they?
Congress.Gov – Digital Dollars
H.R.6154 – Crypto-Currency Act of 2020 (March 9, 2020)
S.3571 – Banking for All Act: 2019 – 2020 (March 23, 2020)
H.R.6553 – Automatic Boost to Communities Act (April 17, 2020)
I’m not excited about the Global Digital Economy… But It’s coming and we all should educate ourselves, share solid information, and hedge our families future positions, so we don’t all wake up to frozen bank accounts forcing the acceptance of the coming Digital Wallet…
Sooner or later it will become fact and I’m rather certain we all will have to comply to a certain extent. However, we can hedge ourselves by making a few good forward thinking moves now, buying and holding some of our assets in Bitcoin, Ethereum, Alt Coins, etc…
Let’s make 2021 a year to remember quite differently than the 2020 now etched into our collective mind, by playing a more proactive than reactive game, being good to one another, and achieving success together!
Right on. BTW, I’m not scared of digital currency. As long as it is decentralized. 🙂 And things like the coming central bank currencies… I know we’ll be using them, but I Will be singing from the rooftops for people to move money out of it. As will many others. The days of banks controlling this stuff are numbered, and there’s nothing they can do about it.
25 years ago I chatted with a herd of international bankers who were waiting for their next event at a global banking convention. They were completely utterly totally shocked by the state of banking in the U.S.
Banks have not improved much since then. OK, they don’t fly checks in small airplanes across the country any more, and Express Wire Transfers don’t take one week anymore (now it’s usually less than 3 days!), but other than that… We are still using checks for payments, together with only Myanmar, the UK (where check use is ending this year IIRC), and a colonial country in Africa.
Most countries had giro systems for payments starting in 1928, that were more efficient than what we have today. And now of course they have gone digital.
My only worry is that some security flaw will be found in one or more cryptocurrencies, as that would likely affect all of them. I sure hope not, because they are so absurdly efficient and the polar opposite of the “punch card computers processing check payments at midnight” level of U.S. banks especially.
Bitcoin has never been hacked, and it isn’t for lack of trying. Also, no, coins have different code bases. And are all open source. So, the idea that a flaw in one would most likely affect the rest isn’t the case. Their all different. Different code, different blockchains.
Thanks David! Happy New Year to you – you just made mine a LOT happier: You just gave me vital information that not only validates my 2021 direction, but gives me help on how to realize the goal.
Thanks David! I’ve been a fan of yours since your Udemy days and can’t wait for this next phase into Crypto…. You are such a giving person – Happy New 2021!
Excellent roundup and action points for 2021. Love your take on blockchain potential.
Thanks for a great post as usual!
1. The USD is a reserve currency also for a less known but very important reason. The “New York Convention” (https://www.americanbar.org/groups/dispute_resolution/publications/dispute_resolution_magazine/2019/summer-2019-new-york-convention/summer-2019-ny-convention-primer/) allows arbitration decisions on international agreements to be enforced “worldwide” (see American Bar Association article linked for a brief summary of this).
2. If Section 730 (legal liability protection for business hosting social media and membership sites, etc.) is removed, censorship will increase by a factor of 1,000x.
Today, every time a leading politician makes a false statement that could lead to people unnecessarily dying from COVID or getting shot by supporters of the politician, or starting riots that cost taxpayers and businesses a lot of money, social media can still post it with just a “BS” flag added, without worrying about their liability through libel and incitement laws.
Remove 730, and big companies would have to make massive investments in AI, with continuous training of the “intelligence” to counter human ingenuity. And still hire more employees to catch missed posts that could carry millions or even billions of dollars in liability.
Smaller membership sites, online forums, etc. would have to manually approve each post to make sure they avoid bankruptcy, because they can’t afford to spend that much money on AI. AIaaS (AI as a Service)? Not easy to create when it would have to cover so many specialized areas.
Hopefully Section 730 will just be updated for the current era, instead of just tossing it without a replacement.
Pretty sure you mean section 230. 😉 And, I agree that it needs to be fixed, not tossed.
Yes, 230 of course ♂️. That is now being worked on in Congress, and I wouldn’t be surprised to see an update to it within a few weeks, with a public review person after that before it can go into effect.
We shall see. I don’t anticipate the new administration has it very high on their priority list to do anything positive about this issue. But, we shall see.
I admire your thinking. It is provocative. And, to my mind, is logical given current circumstances.
I have not been active in Blog Academy for a long time…but I am strongly considering giving the online arena another try, after an expensive first try failure (not do to you!). Been licking my wounds, recovering.
I am using your valuable suggestion to use my being a “magician based in a castle) as a URL in my new scheme, doubt if you remember that suggestion you made to me ( I was a member of your personal counseling deal for several months).
I will write a more personal inquiry to you in a couple months, if/when I activate my new project (a video project targeting the parents of “Potter Heads” (from the Harry Potter books/movies) for an online experiential course in learning “real magic” ( visualization, monitoring. management of self-talk, concentration (attention control skills) mixed with “spells of seeming” where kids can learn simple magic tricks to impress friends, using misdirection and other “seeming” measures. The main curriculum, as pitched to parents, is research on the benefits of learned optimism, resilience, emotional intelligence, etc. taught in a manner to seem magical and entertaining to young folk. Parents applauded the Harry Potter books for encouraging kids to read more for pleasure…why not extend that to success principles?
I remember. 🙂 And you know what I remember? The magician in the castle in Florida. That is so memorable it simply HAS to be part of your branding.
Thanks, David. You’ve given me a lot to ponder on.