Reddit Posts
RECOVER MONEY LOST IN A CONSORTIUM SCAM (RECUPERAR DINHEIRO PERDIDO EM GOLPE DO CONSÓRCIO )
RECOVER MONEY LOST IN A CONSORTIUM SCAM (RECUPERAR DINHEIRO PERDIDO EM GOLPE DO CONSÓRCIO )
PIX, Brazilian Central Bank payment system: second biggest in the world
PixChain Whitepaper: Introducing a Next-Generation Crypto Wallet Network
Coinbase Expands to Brazil Supporting The Central Bank's Payment System PIX
Discover a new way to bet Innovate the way you bet with QATAR Token.
Discover a new way to bet Innovate the way you bet with QATAR Token
Mentions
I live in Brasil. We already have "fednow", here it's called "PIX". We still buy burgers using Nano, why? Taxation, inflation and central banking... The idea of crypto is to protect from governments, here it is needed.
Bro, what? Lobby is "illegal" here. We use the classic "give and take" approach. It's a bit more refined since there aren't direct money transactions and things that need to be made under the table. There is no actual trusted BTC exchange here. Just one that comes to mind, and their fees are terrible. We mainly use Binance and Coinbase with PIX. There are no fees and easy to use. Binance is getting wacked because it provided Futures Trading, which is not permitted unless you have a license. They stopped providing last year, but they were on the hook already. Damn, these uninformed people.
They started accepting Brazilian PIX (P2P payments) there. A company in Brazil receives the payment in Brazilian reais and immediately buy USDC and send it to the merchant account
Lightning payment works better than CDBC from Brazil (Its called ''PIX'') Work better, faster and can't be tracked by the government. Seriously FIAT is losing to off-chain payment methods
Over here in brazil, it's been pretty easy for me since "PIX" was implemented, it's pretty much an instant bank transfer, so just deposit on binance my country's currency, buy bitcoin, send it to my cold wallet.
It's an RTGS system... in Brazil ours is called PIX... And usability wise that's something we either do better than them or we lose the battle
Depends on where in the world you are. In Brazil we have instant free transactions with a national service controlled by the Central Bank called PIX, just need the other person's key to send money(can be phone, CPF, email or random, you choose), even beggars are asking for PIX instead of cash. Wages are sent straight to the bank, almost all transactions can be done with just your phone or card, even investments in the national treasure or stock exchanges can be done in seconds through bank apps and you can get small loans easily if you are not under heavy debt. Frauds are usually easily identifiable and mistakes can be quickly undone. Crypto still doesn't offer any financial services better than normal banking and, yes, normal banking is as easy as sending a text.
PIX VS UPI, which is better? or which gives good competition to crypto
Mean while, Brazil's central bank made PIX You choose a semi permanent key for your acc. So the person just need to call their bank to raise the limit on that single translation. After the request is confirmed it process in under 3 minutes, and the money is on the receiver acc instantly. The bank may call you to ask where that came from, but probably not since they have all the info on the sender and receiver. It works literally like cripto, but instead of a random key, you choose which acc will have one of the three available keys (your document, you cellphone/telephone number or your email.) And the transfer process is instant and fee less for "retail" users, I don't know about businesses
Let me make it simple for people : It's fucking useless at scale, other than for speculation & not even operating in the same realm or idea for which it was conceived. Micro-payments and instantaneous transfers are already here & even used by millions of people. Some governments & central banks do care about financial technological innovation and inclusion to actually bank the unbanked. These banks have launched services such as UPI launched USSD banking (i.e. banking without a smartphone on any GSM device), zero balance bank accounts for direct benefit disbursements for the poor....**already exists.** Similar solutions have been implemented by other governments & private players as well & they intend to proliferate them internationally. (PIX, M-Pesa). It was invented by libertarian technologists with noble ideals, but they failed to see, measure or capture industry's misalignment towards these goals & instead created a micro-financial bubble of speculation and fraud in a zero interest rate environment that lasted for decades. In fact, they actively enable or encourage this behaviour through terribly designed incentives.
They're not contradicting themselves. The CEO is talking about "advancements in digital payments in emerging markets such as Brazil". In this particular example, Brazil developed from 2018-2020 a digital payment system that is instantaneous and free of charge called "PIX" (you can read about it [here](https://www.bcb.gov.br/en/financialstability/pix_en)). This is the sort of stuff they're referencing, not directly crypto.
PIX is our proto-pilot for a CBDC, it works but it's not ideal.
My understanding is that fed now is not a cbdc instead an implementation of an electronic payment similar to PIX in Brazil. But I am maybe wrong and would love for someone to shed some more light into it.
I wish Coinbase or Kraken would accept the Brazilian PIX. That is the only reason I stay on Binance.
NANO, XLM, MAN (Matrix AI), SHX, TAU, PIX
Lol no. Crypto will *never* be a mainstream form of payment. That boat sailed long ago. Bitcoin had a very interesting proposal when it first launched, it had first-mover advantage, but it stumbled upon itself with high transfer fees and slow-as-fuck transfer times. CashApp, Venmo, PIX, Paypal and other kinds of systems caught up and are bound to be the "mainstream" forms of payment.
thnks, but I do not want to use PIX it is a central bank way of payment and it's tracked to see your consumer record and tax you.
Same thing here in Brazil, to make matters worse the government created a system identical to the Lighting Network and no one else uses cash, all electronic transactions are made via what we call PIX scanning a QR code or sending to an email address. Super fast and absolutely free. The thing is, all transactions are now monitored by the central bank and any court order will freeze all your electronic money instantly. But people do not care, as long as they can pay things cashless using their smartphones no one will look into BTC except for speculating.
Fiat's value is also more than just perception. It's value also lies in the army, police force and justice system that is financed by such a currency. But most importantly, the biggest advantage of Fiat money is the controversial fractional reserve mechanism which is responsible for keeping interest rates so low. It is hard to prove it by using charts as monetary policies take time to have an impact. But if I can lend out 10X more than my deposits, then I can make more profits from that deposit and so I can afford to lower my interest rates. 5% of a 10K loan will theoretically yield me 5k in interest payments. 50% profit under the fractional reserve system. But without it, I can only make 500 units from the same 10k. This is just a simplification. The scarcity of crypto makes it a bad instrument for lending. Lending is the most important economic mechanism. Obviously, we all know the bad effects of this system. But it is much better than having 20-30% interest rates. This inflationary period in which we are has shown us how painful it is to have to pay more for the same stuff. No one wants to have an honest debate about why we actually created this mechanisms we are complaining about. And they want to remove it without offering a suitable alternative. That is why adoption will be hard. Centralized digital currencies are more effective as a result. Brazil has shown it. Their centralized system "PIX" is the only successful example of a digital currency gaining massive adoption in an economy. Cryptos as they are today are just ill-equipped to replace currencies. But they could be useful for settling transactions among nations. But again, why would nations choose to give away their power to a decentralized system?
That's taking a myopic view of things & especially people, but I understand where you're coming from. It's perfectly fine. Unfortunately, 2008-2009 was also the age for the rise of smartphones & cashless digital systems infrastructure did not exist by then. Fortunately for us, the world has changed today and UPI, PIX exists now (in addition to implementations like FedNow that'll get rolled out next year). It doesn't need blockchains, it fulfills the purpose of peer to peer cashless transactions directly provided you have a bank account. International settlements & DTCC? Well, those settlement processes are definitely operating at T2+ settlement cycle, but some of those delays are actually a feature & not bug as banks start preparing themselves to be up to code with Basel IV framework. I knew that the question of 2008 financial crisis was going to come up. I cannot even fathom realistically how people misunderstand the Great Financial Crisis to such an extent that they start believing that a tokenised form of money representation will fundamentally alter things. Crypto (including BTC) is basically doing the same wrong things & mistakes word to word that the financial markets do every cycle : They take something esoteric, with built only for specific purpose & turn it into a tool for financial gambling & fraud. The store of value narrative is interesting too, because it intends to convey the usefulness of Happened with Lewis Raineri's mortgage bonds, and then Eddie Connors derivatives. The constituent players collectively do not understand the reason why certain rules were built in place, and certain rules weren't because people looked the other way. Of course, there's a thing called positive sum economics. When you borrow or lend in the real economy, it has collective supplementary effects such as provision of liquidity for commerce, support jobs & facilitate innovation in the field of education, healthcare and whatnot - not just unprofitable business models or P2P cash projects with little customer adoption use. Trust is inherent to human relationships with the counterparties, you cannot disintermediate through pure trustless systems. Crypto cannot game theoretically enforce reasonable on-chain anti-competitiveness. I could go on & on about how it's only useful in small doses and very niche problems, not enable economies of scale. Was an early ETH investor as well, and it bothers me as well (as it stands today) - including the cutting edge work done right as of this moment in the space. But I guess we'd both be wasting our time here, considering my experiences tell me a different picture. It's an industry filled with fake apostles & final bosses, and unfortunately, people will find out soon next year when hell breaks loose.
It’s a PIX card and this isn’t bitcoin.
This is not Bitcoin or crypto- it’s PIX. Pix is a payment method developed by the Central Bank of Brazil that enables transactions to occur in less than 10 seconds, 24 hours a day, 7 days a week – including weekends and holidays. https://www.pagbrasil.com/payment-methods/pix/ Not sure why this was posted as being Bitcoin or crypto as it’s not. I encourage folks to learn more about Brazil’s centralized system though.
This is not Bitcoin or crypto- it’s PIX. Pix is a payment method developed by the Central Bank of Brazil that enables transactions to occur in less than 10 seconds, 24 hours a day, 7 days a week – including weekends and holidays. https://www.pagbrasil.com/payment-methods/pix/ Not sure why this was posted as being Bitcoin or crypto as it’s not. I encourage folks to learn more about Brazil’s centralized system though.
This is not Bitcoin or crypto- it’s PIX. Pix is a payment method developed by the Central Bank of Brazil that enables transactions to occur in less than 10 seconds, 24 hours a day, 7 days a week – including weekends and holidays. https://www.pagbrasil.com/payment-methods/pix/ Not sure why this was posted as being Bitcoin or crypto as it’s not. I encourage folks to learn more about Brazil’s centralized system though.
This is not Bitcoin or crypto- it’s PIX. Pix is a payment method developed by the Central Bank of Brazil that enables transactions to occur in less than 10 seconds, 24 hours a day, 7 days a week – including weekends and holidays. https://www.pagbrasil.com/payment-methods/pix/ Not sure why this was posted as being Bitcoin or crypto as it’s not. I encourage folks to learn more about Brazil’s centralized system though.
tldr; The Bank of Brazil’s President Roberto Campos Neto has unveiled the concept of “open finance” for the proposed Brazilian central bank digital currency (CBDC), the digital real. Neto showed a “super app” that features PIX (a payments network) functionality, and integration with other stablecoins already available. The digital real will be a bridge to decentralized finance. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Just open an account with one of the local fintechs. So far Nu has been working perfectly for me using PIX tranfers to Binance. Santander > Nu/other > exchange of choice > profit
Brazillian here. I'm discovered crypto like 2 weeks ago. In my circle of friends, EVERYONE is talking about it right now. Of course that I cant speak for every person here but 99% are looking for a easy profit. But if some crypto service turn out to be useful to us, and if it's cheap, Man we gonna make this blow up. Why? just look for PIX, its a method of payment created by the gov, that are instant and tax free, in just some months the service get more than 200 million of users ( This is like the whole population of the country )
From a fellow Brazilian to another, I'm doing a lot of research as my bachelor's degree thesis is on Blockchain and Web3.0. Brazil has a big market on crypto investment since 2015 and the government don't want to embrace it, they want to block it or at least track it totally. We released PIX in our financial system, a instant payment method controlled by our Central Bank. And next year we will be releasing the "Open Baking", where all our financial data could be shared with any bank or institution. This was a move, pushed by banks to stop the crypto market in Brazil that was starting to boom. Don't get me started on this because both of them are literally cheap copies of what can crypto already does, without all the good things that Blockchain has to offer. No security, no stability and no immutability. Overall, as investment on crypto is cheaper so we tend to invest more than on stocks, however there is no real use of crypto in Brazil. Pix and the Open Banking destroyed the peer to peer payments of crypto as we see with the popularity of Pix -> [230 million pix users](https://labsnews.com/en/articles/business/brazils-pix-in-six-months-87-3-million-users-and-a-3-299-rise-in-p2b-transactions/). DeFi is growing in Brazil but the numbers are so low it is almost unforgettable, however with the growing inflation we should see more users joining Bitcoin, DeFi or even stable coins, like euro or dollar. Exchanges are what concentrates the market here, as the vast majority of the people investing don't event know what a Blockchain is. I'm the first graduation student to make a thesis on Blockchain on my university (considered one of the best universities of Brazil) and there is not a single teacher that knows about the topic enough to support me. I hope that Brazil is not stupid enough to create laws that break all the possibilities of crypto, but as we have a case of money laundering involving the buying of COVID vaccines by our government, who pays more will define the future of crypto in Brazil (but that's only my pessimistic point of view). Anyway, Brazil can be a leader on crypto we only need the support of our government. And I hope more students jump into the technology, not on the 1000x dream of gains. PS: I don't know how taxes work for crypto in the US and Europe, in Brazil we need to declare everything we invested if it is more than ~1000 USD (5000 BRL).
From a fellow Brazilian to another, I'm doing a lot of research as my bachelor's degree thesis is on Blockchain and Web3.0. Brazil has a big market on crypto investment since 2015 and the government don't want to embrace it, they want to block it or at least track it totally. We released PIX in our financial system, a instant payment method controlled by our Central Bank. And next year we will be releasing the "Open Baking", where all our financial data could be shared with any bank or institution. This was a move, pushed by banks to stop the crypto market in Brazil that was starting to boom. Don't get me started on this because both of them are literally cheap copies of what can crypto already does, without all the good things that Blockchain has to offer. No security, no stability and no immutability. Overall, as investment on crypto is cheaper so we tend to invest more than on stocks, however there is no real use of crypto in Brazil. Pix and the Open Banking destroyed the peer to peer payments of crypto as we see with the popularity of Pix -> [230 million pix users](https://www.google.com/amp/s/labsnews.com/en/articles/business/brazils-pix-in-six-months-87-3-million-users-and-a-3-299-rise-in-p2b-transactions/%3famp). DeFi is growing in Brazil but the numbers are so low it is almost unforgettable, however with the growing inflation we should see more users joining Bitcoin, DeFi or even stable coins, like euro or dollar. Exchanges are what concentrates the market here, as the vast majority of the people investing don't event know what a Blockchain is. I'm the first graduation student to make a thesis on Blockchain on my university (considered one of the best universities of Brazil) and there is not a single teacher that knows about the topic enough to support me. I hope that Brazil is not stupid enough to create laws that break all the possibilities of crypto, but as we have a case of money laundering involving the buying of COVID vaccines by our government, who pays more will define the future of crypto in Brazil (but that's only my pessimistic point of view). Anyway, Brazil can be a leader on crypto we only need the support of our government. And I hope more students jump into the technology, not on the 1000x dream of gains. PS: I don't know how taxes work for crypto in the US and Europe, in Brazil we need to declare everything we invested if it is more than ~1000 USD (5000 BRL).