The Bank of International Settlements , the global body for central banks, claims the weaknesses in crypto that were pointed out before “have pretty much materialized.” BIS General Manager Agustin Carstens opined: “You just cannot defy gravity … At some point, you really have to face the music.”The Bank of International Settlements has warned that a perceived danger of decentralized digital money is materializing.
“Structural flaws make the crypto universe unsuitable as the basis for a monetary system: it lacks a stable nominal anchor, while limits to its scalability result in fragmentation. Contrary to the decentralisation narrative, crypto often relies on unregulated intermediaries that pose financial risks,” the BIS report reads.
Carstens does not believe that the crypto market meltdown will cause a systemic crisis in the way that bad loans triggered the global financial crash. He detailed:
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Dogecoin is intentionally abundant with 10,000 new coins mined every minute & no maximum supply! Think people...Doge is not the way 2 go. Seems very similar to 'Private Central Banks'. It loses it's value every minute, because it has no production limit. Go Shiba-Inu.
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It's hard to argue with that. Although, most of my friends have never been interested in crypto and crypto currencies.
It is too deep for me
dude seems to know a thing or two about gravity
His fat ass creates its own gravitational pull.
Some can defy gravity less than others.
if he Defy Gravity the whole Galaxy will Explode
Ninguna diferencia
This guys pulling 6 gs just standing still
Very difficult to take fiat maxis serious when they so obviously have a bias towards keeping their dysfunctional smoke and mirrors system in place lining their own pockets. FIAT DOESNT WORK
You also cannot defy cake.
What's eating at this guy? We know how much food he eats.
Gravity is no friend of his
Loved him as the captain in Wall-E
This guy certainly have trouble to defy gravity.
Cuckold
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Let’s not focus on his morbid obesity, but rather the fact that under their and their accomplices stewardship all currencies have been systematically devalued over time.
Dude defies gravity every day he moves around on this earth.
Gravity and this guys photo don't belong in the same tweet.
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Here's hoping gravity doesn't get him from 50,000 feet!
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That mic is too small for that man
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He would know.
Gravity faced the music...
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“crypto often relies on unregulated intermediaries that pose financial risks,” If he is talking about exchanges then yes, this makes onboarding/offboarding unsatisfactory. Algorand will not replace money but it will build upon and add to the blockchain ecosystem.
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This mofo is definitely not defying gravity 🙈