Interesting
, if this happens, then it will bring a revolution on the crypto side. But, is this possible? because as we know that crypto is a decentralized side, then, can you explain in more depth the mechanism or process?
Yes, my thoughts exactly. The FDIC operates in a manner that ensures that any bank that is a member is insured and thus it's customer's in the event of insolvency and shut down. I won't bore you with details, there are youtube videos (link below) that explain how the FDIC operates and performs these functions, much better than I can type out. But my idea and current work is developing a coin/blockchain that can integrate with all existing networks, major alt coins and their networks (or as many as possible), and will do exactly what the FDIC does currently, Thus bringing stability to both the crypto markets AND consumers.
FDIC VIDEO:
https://www.youtube.com/watch?v=dBOFiDpmESI&pp=ygUcaG93IGRvZXMgZmRpYyBpbnN1cmFuY2Ugd29yaw%3D%3DIn short and very simplified I propose I create a blockchain that my company manages that has a smart contract that would govern and hold a reserve (up to 50% - 60%) of ALL current/future legitimate crypto projects/those seeking legitimacy, hold them in essentially "liquidity pools" that are offered exclusively to large institutional investors as a way to essentially create a crypto bond market that they are able to pair real world fiat dollars to this new blockchain and access returns/rewards the same as consumers, while providing liquidity & stability to current crypto markets as well as having their own exclusive market to essentially park long term investments and gain returns as the crypto markets formulate returns as well. Thus insuring stability for normal crypto consumers and institutional investors will NOW have their own vested interest in the success of crypto as a whole as well. And I third party through whatever combination of new blockchain, token, nft, smart contract implementation, or the most elegant combination of all the above provide insurance and regulation of these new cross investing/stabilizing assets pools
OP, so what do you think about some crypto projects always having reserve funds to protect their users? And what makes them pay attention to a new project that starts with only ideals while those things still exist?
Honestly, even in the case of Bitcoin, it has reached a state where the core decentralization can eliminate impact. And also @rat4 expressed "Be your own bank"
Bitcoin seems to only be a store of value and a foundation for other tokens atm; and while needed and will continue to be needed in the years to come as a hedge against inflation and also a pivotal marker in the history of Web3, I believe it is also in its infancy as far as discoverable utility and used functionality. It's code has it's limits and since I am unable to personally contact it's creator, I am not able to fully alleviate all my personal concerns, as far as building what I am proposing on it's or any existing networks/alt coins/ tokens/ etc etc including bitcoin.
Also I am unaware of any project that is doing what I am proposing. Also those projects would not be able to participate in the regulation of the market with their current projects since they have accepted funding and entered the existing market places and exchanges thus already insuring a conflict of interest if they were to propose what I am. Also one singular preexisting alt coin/token that already has a market valuation less than its major alt coin sister tokens (i.e. BTC, ETH) in the market place will have a hard time if a not a slim to none chance in corralling or stabilizing volatility of said assets. I believe assets of a similar stature (i.e. institutional investors, banks, hedge funds etc etc) who are all clamoring for a chance to launch a bitcoin ETF of their own (as oftoday 1/4/24), would; through what I propose add the liquidity to then bull run crypto for all existing consumers, ensure it's crypto market stabilization and thus even more exponential growth or at least that of all coins that participate in my new blockchain, guarantee profits for their own investors while also allowing them access to their own asset class that is non competitive with the current crypto market, and would also allow ME/CHAT to develop a product that hedges against all loses and potentially allows us to reverse all crypto market losses of the past. Essentially turn back the hands of time and "fix" every dip, and make whole anyone who has been deceived or suffered losses in the crypto market to date and ensure that end consumers are protected against bad actors in this space in the future, be assured of the future security of their investments, and ensure the growth and stabilization of web3 as whole. As well as allow them to vett all crypto projects in the future much like consumers do with banks and USD. If the bank is not a member of FDIC then you do not bank there because you are not insured against the banks closure and loss of consumer funds. Same in the future if projocts do not participate in this "insurance" fund network, then anyone in the crypto space will immediately know that they are at a minimum sus asf shawty
.
Also @rat4 expressed "be your own bank" which is great, do that. but one can not be its own bank and compete in the crypto space, regulate the market, reverse losses, garner institutional investors, etc while also having an intrinsic conflict of interest since this function would be sought to be performed after already having exposure to the market and it's liquidity. as the canadians would say "no way jose"
also cherry on top and full transparency, I already have large web3 projects that have pledged to me to participate in this fund and I am doing the same with large institutional investors. I have already begun the leg work and have no current web 3 projects or assests that I am the major shareholder of and while i do have crypto assests none are projects that I have built the code for or constructed in any way. I am a business man and have a vested interest in Web3/crypto as a whole and have a GREAT number of ideas and projects I am working on (in this space and others) that I believe will benefit most of humanity, bring stabilization to markets globally, and continue the amazing and fascinating space that is WEB3 and insure it's future for as long as humans deem it necessary. But...I need help, so I am here
One of cryptocurrency mottos is "Be your own bank", because folk have self-custody of monies, and so avoid the fractional-reserve problem. Can you explain in more detail goals of this project?
yes, to elaborate a bit further on an idea, holders of current projects could vote either through consensus, or just by being the majority shareholder of a coin/token, or common consensus amongst the majority of that tokens holders (51% majority holding of the asset or whatever the required majority number is) could decide to essentially stake their own holdings into these "liquidity pulls" and either charge a premium to institutional investors to join the pool with them or charge for access to it, or through use of smart contracts lock those particular assets into that pool with institutional investors creating it's own asset class that stabilizes the crypto markets, while allowing additional upside to both original holders of that coin/tokens, (i.e. people who hold and helped create bitcoin and all subsequent crypto currencies) through returns from that pool, as well as allowing exclusive access to that pool to the larger stable liquidity that traditional investors provide, while simultaneously allowing them to participate in the bull run of the new crypto economy. everybody essentially wins and we are able to provide security and remedy quite a few of the problems bad actors have created in the Web3 space as well as the leave behind the zero sum game mentality of traditional finance. anybody that participates in this system helps improve the security and stability of crypto and helps ensure everyone in the space is able to hopefully realize returns on their investments.
whales could by simple consensus ensure stabilization of projects like bitcoin by adding their holdings to these banking/stabilizing pools and the new block chain could reward users who join with a token that is a badge implying one as a secure actor in the web3 space as well, and if we expand this idea further as a credit/reward for assets held in the stabilization pools that would allow them to continue to utilize the value that is in the stabilization or "banking" pool in the normal crypto markets and still realize any returns due them from the banking pools that they join with institutional investors
OP, so what do you think about some crypto projects always having reserve funds to protect their users?
Which crypto project? can you name just one of them? AFAIK this reserve fund is only implemented by CEX (such as Binance and other top tier CEX), but not a single crypto project has implemented this.
[/quote]
my point exactly. No one is doing this or even fleshing the idea out fully or looking at how economics have functioned in the real world and started using Web3 to ACTUALLY fix Web3's problems. All of which I see solutions too. I need developers and people willing to work on the code and expand this idea with me, because I believe we can actually fix the problems and enrich the entire crypto ecosphere and maybe in the process onboard a few billion more people into the space. help me find solutions and begin this work and see it through to completion. these are the original Bitcoin chat rooms, if there is an answer to this problem, it will be found here amongst us.
[moderator's note: consecutive posts merged]
