Eyal Hertzog

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Eyal Hertzog leads technical product strategy and ecosystem development at Roundtable. A seasoned technologist and pioneer of the social web, Eyal previously co-founded Bancor, Metacafe, and Contact Networks.

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Udi W. on BRC-20

What do you think?May 19, 2023

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Stablecoins and the Disruption of Traditional Monetary Systems: A New Era in Finance? (Updated)

We're all familiar with the concept of stablecoins – digital currencies designed to maintain a stable value by pegging it to a reserve of assets. As these currencies continue to gain traction, questions have arisen about their potential impact on the traditional monetary system, which relies on central banks, interest rates, and bonds. In this post, we'll explore how stablecoins could "break" the current monetary system and what that could mean for the future of finance. The Role of Interest Rates and Bonds in the Traditional Monetary System: Central banks use interest rates as a key tool to control inflation and manage economic growth. By adjusting interest rates, they can influence borrowing, spending, and investment behaviors. When central banks raise interest rates, borrowing becomes more expensive and saving becomes more attractive, leading to a slowdown in economic activity and a reduction in inflationary pressures. One of the mechanisms through which higher interest rates reduce inflation is by incentivizing people to purchase bonds, effectively taking money out of circulation. As individuals and institutions invest in bonds, the money supply decreases, and the rate of inflation tends to slow down. How Stablecoins Could Disrupt This System: The rise of stablecoins can be compared to the impact of email on the traditional postal service. Just as email provided a faster, cheaper, and more convenient way to communicate, stablecoins offer an alternative means of exchange and store of value that can bypass central banks and traditional financial institutions. If stablecoin issuers use the deposits they receive to purchase bonds, they essentially introduce a new dynamic into the traditional flow of money. While bonds are purchased, the money remains in circulation in the form of stablecoins, which can be exchanged for other cryptocurrencies or used in various applications within the digital finance ecosystem. This could potentially lead to a situation where central banks' efforts to control inflation are less effective because the money remains in circulation, albeit in a different form. Furthermore, stablecoins can be transferred and exchanged more quickly than traditional fiat currencies, which could amplify the effects of their continued presence in the financial system. The Futility of Regulating Stablecoins: Efforts to regulate stablecoins may prove to be futile, as their decentralized nature makes it difficult to impose stringent controls. This situation is akin to regulating email, where servers can be set up in any jurisdiction, making it virtually impossible to enforce a uniform set of rules. The borderless nature of digital currencies means that regulations imposed in one country can often be circumvented by shifting operations to more lenient jurisdictions. Embracing the New Era of Finance: Technology has irrevocably broken our traditional monetary system. With the rise of stablecoins and the disruption they bring, we now face a new reality in which the established financial order is no longer sustainable. There is no alternative but to adapt, embracing the innovative potential of digital currencies and redefining the way we approach finance. In this brave new world, the coexistence and evolution of traditional and emerging financial systems will shape the landscape, and our collective ability to navigate this transformation will determine the future of our global economy.May 3, 2023

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Re: Re: BBS Network Community Chat 30 April 2023

Apr 29, 2023

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Another Censorship Related Elon Musk Tweet - Let's Retweet this reply!

Post a link to your twitter profile after your retweeted and liked for a tip!Apr 19, 2022

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BBS DAO, Staking Rewards and Version 3.1.3 (post on METABBS)

Feb 19, 2022

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BBS Token Auction on Feb-14th and Version 3.1.2 Release

Chance for everybody to get their hands on BBS tokens. 3-day Auction on copperlaunch.com starting on February 14. All raised funds will be used for locked LP. BBS aims to be a highly liquid token from the start. Help us spread the word by retweeting: Engagement Mining Subsidy BBS members can already run ad campaigns using their cashable balance (and soon, using BBS tokens as well). From this version, the engagement mining budget (in participating boards) would be subsidizing ("Boosting") members’ campaigns, that can now bid to advertise for as low as $1 CPM. Other Changes - BBS Logos now show up in your wallet: - Post owner information is displayed above the post, rather than above the banner - "BBS Admin" is now "BBS Owner" to better reflect reality - "Banner" tab on user profile pages was redesigned and now labeled "Revenues" - .. and many bug fixes and small improvementsFeb 10, 2022

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Cashier Queue Update and Reduced Fee

- BBS tokens have been injected into the cashier queue in order to fulfill all pending cash-out requests in all board participating in the engagement mining pilot. - Cash-out fee is adjusted from 90% to 30% to accurately reflect: 20% BBS owner royalties + 5% BBS operator royalties (current pricing) + 5% BBS DAO royalties (goes to the BBS token staking reward pool) - The economics should be balanced at this point, however, we would keep monitoring the cashier queues closely. - Below you may find, cutesy of Google Analytics, a table of the Top 10 boards of the last week, based on the following events: List View (each BBS homepage/channels), Post View  (revenues) / Posts Created / Comments Created - Only 4 boards from this table currently participate in the engagement mining pilot: BANTER, METABBS, THEORY and GOLDEN.   - For the pilot, we currently only consider boards that feature real user-generated content and host lively discussions around it. - Your feedback is most welcome!Jan 30, 2022

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BBS Network Whitepaper

Hey everyone! I've just finished revisiting the BBS network white paper, as we prepare for the token launch. I'd love to get your feedback, comments, as well as harsh criticism on it!Jan 28, 2022

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BBS Version 3.1 Released!

- “Video Upload” button is available when creating a new post (Size limit 500mb per video) - “Cash-out limit” is now called “Cashable” - Post ad revenues are now divided equally between the publisher and the owner, as cashable balance in full, which is subject to a cash-out fee. - The cash-out fee will be set at a very high 90% for few days. Following that, the fee will be reduced gradually toward 30%, reflecting the 10% royalties to the BBS operator/software + 20% royalties to the BBS owner. Eventually, the cash-out fee will be set for each BBS by its owner enabling to maintain a healthy cashier balance for their communities. - Cashier queue can now be viewed under the Activity tab - Uncompleted cash-out requests in the cashier queue can now be reverted by the beneficiary as well as by the BBS owner. This feature is especially important for non-whitelisted BBS owners that wish to clean their BBS from spam content and misappropriated rewards. The temporarily high cash-out fee should disincentivize members from retrying reverted cash-out requests. - In addition, this version fixes many bugs and includes important system upgrades in preparation for the upcoming BBS token launch.Jan 24, 2022

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New Version - BBS 3.0.0!

Jan 9, 2022

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