Comments by "k98killer" (@k98killer) on "ITM TRADING, INC." channel.

  1. Some implementations of Community Exchange Systems (CES) or Local Exchange Trading Systems (LETS) include demurrage for those with high positive balances and transaction limits for those with high negative balances to encourage recirculation and rebalancing. It might be a valid tool in some scenarios, though it evidently does not work at all in the Euro system.
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  2. The banking system was developed in the middle ages. We Americans often have a myopic view of history and focus solely on our own brief history, but monetary history goes back thousands of years. Edit: as they say in Battlestar Galactica, "this has all happened before, and it will all happen again."
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  3. The system described by Powell in that clip is just an adaptation of the current banking system. Bank deposits are not anonymous bearer instruments, and banking relationships are built on identity verification, but privacy is ostensibly protected from trade partners by the intermediaries. I think that the fear mongering is a bit overblown on this particular topic, because we already have all that. And the primary feature of "programmable money" interesting to the financial system is the concept of the atomic swap as developed to trade cryptocurrencies in a trustless manner. This would allow fast, atomic, cross-border payments, and this is a feature they desire, especially the BIS and their client banks.
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  4.  @darrinrentruc6614  Mauser revolutionized militaries in his day. Hard not to be a fan when you're reading military history as a 12 year old boy.
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