~~~ embed:HTveRlW7QPo youtube ~~~
AND THAT MEANS EVERY STOCK EVERY BOND WILL HAVE ITS OWN... GENERAL LEDGER.
Word for word from the Fink's mouth.
Unbelievable. Larry Fink has just said the quiet thing out loud. He's just said the thing that I, @taskmaster4450, and others have been shouting for YEARS. Blockchain is better than what the legacy system has... so of course one day all stocks will be on the blockchain.
It was obvious.
But to have Larry flippin' Fink come forward months after ETF approval and say it out loud on Bloomberg? Holy hell... this is really escalating quickly, friends. Buckle up for the wildest bull market we will ever see in the history of bull markets. It's going to be so stupid. People are already making 6-figures from Solana meme coins and the run hasn't even started yet.
CBDC angle?
Of course when many people see something like this, especially maximalists, they are going to immediately cry about CBDC implementation. It's the boy who cried wolf at this point. Literally anything and everything is a CBDC to these people. Blackrock is not even central bank. Every time an institution talks about blockchain the boy who cried wolf appears. Make it make sense. If anything it's just Enterprise Blockchain, but that threat no longer carries any weight (and for good reason... the same reason why CBDC is the same).
Remove Illicit Activities?
Of course it's easy to see why so many would cry out CBDC when the goal would be to transparently track all the assets on a blockchain controlled by institutions... but is this really that much different to the end-user than it is now? Seriously, be honest. You think these guys aren't already tracking everything you do already? You think the IRS doesn't know? Be reasonable.
Instantaneous settlement.
A funny thing I've noticed is now maximalists in particular react to this kind of news. "Isn't this just another database?" "How does this have any value?" That's because these people are so Bitcoin-only that their brain doesn't work in any other way. Even when the CEO of Blackrock is telling them things like:
- Fraud will be eliminated.
- We'll have instant settlements.
- Stock holders will enjoy direct democracy.
What's that now? Direct Democracy?
Yes, if you actually listen to what Larry Fink is saying in this clip instead of knee-jerk reacting to it... he's actually undermining the power of his own hedge fund. You know how everyone complains that Blackrock is delegated all the voting power and they whine about ESG and other woke forms of financial incentive? He's literally talking about removing all that bullshit by employing decentralized blockchain... and it's like NOBODY NOTICED WHAT HE JUST SAID.
DIRECT QUOTES
... if you wanna talk about voting and voting choice and all the things... if we know every moment who is the owner of that stock and it's now time to vote: every individual who has ownership is identified and they can vote their own shares.
LIKE... REALLY? REALLY? He's talking about DPOS on the stock market and everyone's reaction is like "yeah CBDC though". Like LoL. What the actual fuck? This is bullish as shit. Wake up already.
#inb4
Of course the rebuttal to this is that Larry Fink is a piece of shit and we can't trust him and he's got other secret plans to control everything. So what? That's IRRELEVANT. It doesn't matter what the plans of a literal fink are. What matters is what actually happens as a result of all this, which is going to extend far beyond the plans of any singular person or institution.
This is just phase 1: get everything on the blockchain. What about phase 2 and phase 3? Explain to me how we are going to be ushered into a world of absolute tyranny and totalitarianism as Bitcoin and every altcoin is pumped to the moon and all the freedom fighters become rich beyond their wildest dreams. Explain it. Make it make sense. None of this CBDC bro CBDC Larry Fink bro CBDC Larry Fink Blackrock bro. Like no. Stop. Full Stop. Use brain instead.
A system like this is going to be one that institutions and corporations opt into because it's a good deal for them. They will all get to run a node and keep all the other nodes honest. Will you get to run a node? I mean maybe it will be possible, but it will be expensive as shit and you'll have no power over the network. We are not in the BIG CLUB. Get over it. Just because this is true doesn't mean that decentralization isn't happening right before our very eyes at the upper level. The powers that be are realizing that if they give up a tiny bit of power then they can create exponential value within a collaborative system of peers.
OPT IN
And none of that matters anyway because I'm not going to participate in this bullshit anyway. I've never owned a stock in my life. My dad set me up a mutual fund once and I had to liquidate it when I fell on hard times. That's my full experience with the stock market. The stock market is opt in; not a CBDC. Duh. Honestly why does this need to be explained to people? It's frustrating. Just buy Bitcoin. Real actual non-wrapped BTC. It's not hard.
"Everything will be an ETF"
Another direct quote from this goblin. The Bitcoin ETF is doing so got damn well that now EVERYTHING IS GONNA BE AN ETF. And Blackrock gets to take their half a percent cut every year. Pretty baller business model if you can swing it. Got damn.
We believe this is a technological transformation for financial assets.
This is the ultimate evolution of securities we've been talking about for YEARS. Now Larry Fink says it out loud and everyone is like omg CBDC. What? Stop. Seriously stop. Stop already.
Timeline
How long before a technology like this is not only available, but also accepted by the greater market? A transition like this takes YEARS; maybe even a decade. It starts small and if it has promise it expands.
Ask yourself why the stock market closes at 4 PM New York time. It's because the stock market was invented before the Internet. In fact, the stock market existed before computers. Just because a new technology exists doesn't mean there's an instant overhaul of all the legacy infrastructure, but that is exactly how crypto folks interpret these statements. Get some perspective.
Conclusion
Are you ready for this bull market into 2025? Well I'm not, and if I'm not then you're probably not either because I've been doing quite a bit of prep. No amount of prep is going to actually prepare us for what's in store for this upcoming rally. This is the mainstream adoption rally. What a beautiful and terrible disaster it will be.
Do not ignore things that Larry Fink says like "we're going to decentralize voting and give the power back to our clients". That's a batshit crazy statement to make on TV as the CEO of the most powerful hedge fund in the world. What does it all mean? I guess we'll find out.
I'm sure you have seen me say it before, but I have been following a project called Chintai for a while now. A while ago they shifted their focus to digital assets. If it looks like things are heading that way, it could be a good token to hold onto. It's CHEX and the price is quite attractive right now. Of course, it could all go to zero so DYOR. It's definitely exciting though. I don't have any SOL and I kind of wish I could be taking advantage of that meme coin craziness.
Yeah at this point my willingness to enter new projects is very low.
I have my bags and I'm sticking to them.
BTC RUNE HIVE HBD LEO
I see very little reason to mess around with anything else unless it's built on Hive or it's a game that I'm interested in actually playing.
I can understand that. I invested in CHEX a long time ago for a different reason, so I am just along for the ride now.
I bought $300 worth of PORK(Pepe Fork) a few days ago... Will see what happens, but I don't consider myself to be lucky :)
Nevertheless, I wish you luck!
I don't trust a word of what they are saying
Well you trust that they are saying it and you probably trust that they are going to do at least something.
All of the distrust can be easily avoided by simply buying Bitcoin self-custody.
Exactly
memecoin devs/influenca mostly are milking people from presale/pump and dumps. Wild west out there.
Larry fink is the new Michael saylor in crypto... Only sane person who understands the tech and doing something with potential.
Did my research on this and found out It already exist in crypto - plus ++ it's by (ex BlackRock worker involved) talking about this: https://ondo.finance/
Curios if you're adding some RWA aka tokenized assets coin in your bags moving into this bull run or not yet?
A lot of this big firms admire blockchain tech, do you know the how much research their teams have been working on. A firm like Blackrock cannot invest blind. I see a deviation gradually from the old sytems.
It vas all part of the plan right from the very beginning...
You can trust those Big Heads to act in their best interest. If this plays out well, it is the total shitcoinery, Bitcoiners nightmare. But it can drastically decrease the Bankers dependence on FIAT Gateways and Government imposed Settlement Regulations, which they certainly want with all their heart.
Do you think they will run their own Token Chain soon, like Coinbase does?
Hm let me answer this one with a meme.
Rank #54 on the market cap.
I can not believe that they didn't even edit out that background for the token image.
I feel like it was only a matter of time before they realized this was a transition that would make some folks an absolute shitpile of money.
Yeah it's just we were talking about it for so long and nobody in power acknowledged it.
Now it's like "oh yeah of course".
lol
"Oh wait, the nerds really ARE onto something, quick, before they make enough money to join us!"
Is that a quote from taskmaster or you are taskmaster? Hard for me to believe if you are. I've tried in the past to watch him in videos but he just rubs me the wrong way, but I can read your stuff with no problem when a topic interest me. Sort of just blew my mind.
"we're going to decentralize voting and give the power back to our clients". What that specific part means is that Blackrock is getting dumped by a lot of states into the billions of dollars over their DEI agenda, which they threatened in the past to deny shareholders their votes if they didn't fall in line with the agenda(s) (there's more than one) of Blackrock. Just from Texas alone the other day they lost eight billion in investments from the state of Texas.
I know you think this is all great, but as you said, it's just the beginning. It may take decades before the full implementation, part of that will include some sort of CBDC. Maybe by then it will be all fine and dandy with whatever generation is in play but the ultimate goal will be similar to the China model and they'll have the ability to control your account like China does if you don't pay your bills. Whatever, I'll be long gone more than likely but it will suck when you find out or they find out what the end game was.
CBDCs are irrelevant.
Every DEFI coin launched in 2020 was a CBDC.
Completely and utterly centralized and controlled.
Nobody cares.
They fail when the first bear market rolls around because it's a stupid idea.
Doesn't matter who controls it.
Never said it was great; never implied it was great.
It is quite simply the obvious result of mainstream adoption.
Mainstream adoption means institutions will use the tech.
Disruption means the tech will be leveraged and crush anyone who doesn't use it.
Did not imply I was Taskmaster either.
I had a feeling I should write "me" instead of "I", although technically incorrect.
Lol, whew, thought I was losing my mind there for a minute. I usually have a pretty good inclination for these things but thought maybe because I hadn't actually put any work into his post I missed something. I've watched a couple things he put out there of interest but for the most part, as with a lot of others, especially technical stuff, it's above my head.
That is good news for crypto investors.
Really tokenization of finance assets is so close. Even, the battle between ETF 🆚 new ETH nft as a asset is getting crucial. So, HIVE
Mainstream adoption rally, that will be a good show to watch.
The Powers That Be (to whom Larry Fink presumably belong) have been hostile to crypto, because, rightly or wrongly, assumed that it would deprive them of their power, either by giving it to the plebs or the new players in the game. But, at the end of the day, there is simply too much money (and power) to be made with crypto and all those greedy oligarchs, like the scorpio in that proverbial story about frog, can't resist their nature.
https://patents.google.com/patent/US20170187535A1/en
Reggie Middleton has the patent.
There's no such thing as decentralization, it's a pipe dream.