reverendtiger

#asknostr Is there anything in the GENIUS act as passed that hurts BTC/Stablecoins or that puts a moat around the banking industry? I of coursed consulted the AI overlords, but I wanted to see if there were any insights from the community. For those curious, here's what AI spit out: "Prohibitions on Bitcoin/Stablecoins: No provisions prohibit the use or adoption of Bitcoin or stablecoins; the act regulates payment stablecoins, potentially enhancing adoption through legal clarity. Regulatory Framework: Payment stablecoin issuers must be subsidiaries of insured depository institutions, federal-qualified nonbanks, or state-qualified issuers (≤$10B), with 1:1 reserves, monthly disclosures, and redemption policies. Bitcoin Impact: Bitcoin, as a non-stablecoin, is unaffected but subject to a Treasury study on non-payment stablecoins, assessing risks and benefits without imposing restrictions. Banking Industry Advantages: Banks may have a competitive edge due to existing regulatory status, easing compliance for stablecoin issuance via subsidiaries. Nonbank Competition: Nonbanks can issue stablecoins if qualified, with similar reserve and AML requirements, supported by anti-tying and affiliate transaction guardrails to ensure fair competition. Competition with Banking System: Stablecoins can compete with banks in payments (e.g., remittances, digital transactions); no explicit prohibitions hinder their ability to challenge traditional banking services. Market Dynamics: Issuer qualifications and regulatory costs may favor larger players, potentially limiting smaller innovators and concentrating market power. Monetary Policy: The 1:1 reserve rule prevents money creation, but widespread stablecoin use could affect money velocity or Federal Reserve control, requiring monitoring. Global Implications: The act may strengthen the dollar’s global role via regulated stablecoins, but strict rules could push innovation offshore."

https://video.nostr.build/2583312b05cfebcd934ef35b02e5d44456233f712781adb28439fd9561dd5078.mp4 We're in the right timeline nostr:npub1jpfkttp509yl3zuu7z7kllu3sy0d88tdvgakjkd6tempgsj8l80q5kxtrg #steaknshake #lightning #paywithbtc

https://open.spotify.com/track/1ZozJfi8u9cO2Ob8KwiwNT?si=Tn05uyG7QvG8Zd3M4b6fUw LESSS GOOOO THURRRR

There are two wolves inside of you

Will the break up of Google be better or worse for their competitors? #asknostr

Very well done! nostr:nevent1qqsgc4c89p0262axrhl9fn4adx7xjlwmvtj2txftggwqg53glr62xagzyqsd9xqs66jlj2cytt0q96a6mjgrd46pe35xkqzpt3ptggm0ujkj7qcyqqqqqqgpzfmhxue69uhhwmm59e6hg7r09ehkuegf6gefr

Thunderbolts* gave me hope for the MCU

GM https://dai.ly/x1qaym4

To the Vibe Coding Vibe Coders of NOSTR: There are 3 apps that may or may not be possible in the NOSTR ecosystem, and I’m not sure how much utility they would have. Regardless, I figure I’d put the ideas out there in order to further the “other stuff” agenda. Either something cool could be created or I’m called out for being clueless; I can live with either outcome 🙂. 1: Whoogle or Searxng, but somehow hosted on NOSTR relays/integrated into the NOSTR? https://github.com/benbusby/whoogle-search https://github.com/searxng/searxng 2: The Bible app, but NOSTR 3: A browser similar to Brave, but with a ecash/lightning wallet and NOSTR integrations. #vibecoding

Trying out nostr:npub1kvaln6tm0re4d99q9e4ma788wpvnw0jzkz595cljtfgwhldd75xsj9tkzv on IOS. I set my lightning address to my Minibits address. Zap away!