iluxonchik

7 ms·

31.
All Reserve Currencies Achieved Reserve Status Under Gold or Silver Standards(illya.sh)
1 points by iluxonchik 1y ago|0 comments
32.
Bitcoin needs Gold. Gold doesn't need Bitcoin(illya.sh)
3 points by iluxonchik 1y ago|0 comments
33.
When a bank buys an asset from a non-bank, it creates deposits(illya.sh)
1 points by iluxonchik 1y ago|1 comments
34.
by iluxonchik 1y ago
When a bank buys an asset from a non-bank it creates broad money If a commercial bank buys an asset from you (I'm assuming you're not a credit instituion), it will pay you by create a new deposit into your account So effectively t
35.
Gold revaluation won't fix the U.S. debt problem(illya.sh)
3 points by iluxonchik 1y ago|1 comments
36.
by iluxonchik 1y ago
the gold revaluation gain would cover less than 3% (≈1 trillion USD) of the outstanding national debt most recently it took ≈9 months for the US government to accumulate $1T in new debt previously, $1T in new debt was added in ≈100 days
37.
When a Bank Buys an Asset from a Non-Bank It Creates Broad Money(illya.sh)
1 points by iluxonchik 1y ago|1 comments
38.
by iluxonchik 1y ago
In short: banks are very special institutions, in the sense that they have the legal power to issue credit via broad money. The powers attributed to credit institutions extend beyond explicit credit issuance (e.g. via loans), including open
39.
by iluxonchik 1y ago
Indeed! CBCD = Central Bank Digital Currency. There's two types of CBDCs: retail and wholesale This article explains retail vs wholesale CBDC and how they look in the central bank's balance sheet: https://illya.sh/
40.
91% of Central Banks Are Working on CBDCs, but Not on a Public Blockchain(illya.sh)
1 points by iluxonchik 1y ago|3 comments
41.
by iluxonchik 1y ago
Most of the data is from Bank of International Settlements (BIS)
42.
91% of Central Banks are working on CBDCs, but will not use blockchain(illya.sh)
2 points by iluxonchik 1y ago|1 comments
43.
by iluxonchik 1y ago
85 out of 93 central banks (≈94% of global economic output) are engaged in some form of CBDC work, and while wholesale CBDC (inter-financial institution settlements) are likely to use Distributed Layer Technology (DLT) - it's not going
44.
Deposit Guarantee Scheme of Japan: DIA and DICJ(illya.sh)
1 points by iluxonchik 2y ago|0 comments
45.
Show HN: ZkSafeZones – Civilian Protection in Conflict Areas(zklocus.dev)
1 points by iluxonchik 2y ago|0 comments
46.
Privacy Is a Myth. Unless You're Using Zero-Knowledge Proofs(illya.sh)
3 points by iluxonchik 2y ago|0 comments
47.
by iluxonchik 2y ago
Neither Yuan, nor Ruble, nor gold, nor Bitcoin can be a "reserve currency" for the BRICS digital currency, as I've explained in the comment above. You could make an argument for the BRICS currency becoming a reserve currency
48.
by iluxonchik 2y ago
I understand that you are expressing your political views, however you still fail to explain how exactly the BRICS digital currency as a cryptocurrency on a public blockchain supports the claims that you've made. My goal is not to argu
49.
by iluxonchik 2y ago
What do you mean?
50.
by iluxonchik 2y ago
Hello and thank you for getting back on this, I feel that there may be a misunderstanding on how you understand the BRICS digital currency to be implemented. I'll address your comment point-by-point: 0. The statement that commercial ba
51.
by iluxonchik 2y ago
If designed & implemented correctly - absolutely. In fact, as I outline in the article, this is one of its most exciting value propositions. I'm not sure how far along you've got, but your question is answered in the following
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by iluxonchik 2y ago
Hello economist and thank you for your feedback, You've made claims questioning my knowledge level and suggested that my opinions should not be disregarded, yet you haven't presented any arguments on where exctly my economic under
53.
by iluxonchik 2y ago
Yes, indeed! I would also expand on how the implementation of this on a public blockchain, expands the "trust free" feature to the general public, as derivatives can be easily created on a smart contract based blockchain.
54.
by iluxonchik 2y ago
Based on the discussion that we've had I'll assume that you don't have any actual criticisms regarding the value-propositions of the BRICS digital currency as a cryptocurrency on a public blockchain. Arguments in the form of
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by iluxonchik 2y ago
Of how it's used as a weapon?
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by iluxonchik 2y ago
I will refer you to my comment above. The BRICS currency does not have a "reserve" currency, and as such the Ruble is not a reserve currency. A more correct way of thinking is of economic health of the Russian Federation and other
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by iluxonchik 2y ago
The BRICS currency does not have a "reserve currency". You are thinking in terms of existing currency structures, where a single currency is treated with more importance that other currencies. The BRICS currency itself, is a deriv
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by iluxonchik 2y ago
I'm not sure how far along you got in the article, but have you ever heard about zkML?
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by iluxonchik 2y ago
While I appreciate your reply, it feels that you expressing your subjective view on geopolitics, rather than expanding on the shortcomings of the BRICS digital currency, when implemented as a cryptocurrency on a public blockchain as describ
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by iluxonchik 2y ago
Hello and thank you for your comment. I'm not sure how far along you got in the article, but I cover all of these points in the "BRICS Digital Currency as a Cryptocurrency on a Public Blockchain" section. Blockchain is utiliz

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