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zerpdigger

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Everything posted by zerpdigger

  1. Goddam you guys have some #deepthoughts -- made me think. #imlovinit My main points of contention are still, WHY use built-in tokens in a value web? Or is it the opposite, why NOT? I still think the token part needs to be abstracted/modularised from the functionality e.g. smart contracts, etc. You've seen this happen with Ripple (ILP). XRP remains an option but not integral. In a Cambrian explosion, most coins will die off. The strongest survives. But if I can choose ANY of them, why would I want the slow or volatile built-in one? Right now it's ALL speculation, to make money... i.e. you buy bitcoin to sell bitcoin and profit! I have fiat to USE to buy food! So, we can choose, ok, for bridging, what's the best/fastest thing today? One may say... whatever's best connected, or has network effects. But then the network effects can "hop" easily into any token, naturally choosing the "best" one, as they're all connected (ILP, atomic cross-chains, etc). So what's "best" here? I just see "fiat on steroids" as the end goal, since everything's measured in that. Win-win for govts, citizens. Benefits of crypto tech, but no volatility. Familiarity. Fiat can go do what tokens can but be backed by real resources. Instead of thousands of tokens of crypto, for stocks, oil, gold, airline miles, etc, maybe the opposite happens. You have fiat designed for this, or for that -- fiat only ultimately redeemable once used as a loyalty token. So I can spend these USD only at XYZ stores, this EUR only on environmental tech like solar, wind. Or fiat backed by things like gold/oil. Or fiat that contains a basket mix that changes over time as monetary policy changes and economies go up/down and explore new areas. Meanwhile it can circulate as any other USD/EUR like normal, but whoever holds the hot potato must redeem it given its conditions. Maybe you even have time-based conditions, like, you gotta spend this USD within 6 months within THIS sector. Govt can control economy that way. So can there be one for traders? A bridge fiat? You can evolve and upgrade the money over time, defeating the "constantly upgrading technology" problem or the "must choose a winner" concern. Right now, by the time a coin launches, it's out of date! Look at bitcoin. All it has left is "network effect". It's entirely psychological. The token of bitcoin is really just "storing" the value of fiat in an abstract way... temporarily, until it comes back into the economy. Look at things coming like IoTA (fast, free). I don't see any reason it won't bump out zerps (or vice versa). 'Cos in an ILP world, XRP no longer has exclusive connectivity, right? Or wrong? Can't any token just copy the features of the previous and hop into its network? You can't "force" people to stay in any one token/network. I say we need a fundamental shift. It's not the next tech that's crucial, we need to address the fact that there's ALWAYS a next best thing, so we have to bind fiat (which represents real wealth and govt policy) to crypto (features, speed, etc) to commodities, BUT allow money to evolve so it isn't tied to one network/token. You can't do this with zerp, bitcoin, etc, because they're set by the algorithm, they're built-in. HOWEVER!!! With crypto/contracts you can take XRP out of RCL, can't you?! You "lock up" XRP and bind it to fiat, IoTA, bitcoin, whatever. Everything can be bound to something else. When zerp needs to be finally redeemed, yes ofc, it must contact the RCL. We need to be able to say... ok, let's reissue the next set of USD with a new ratio, we are reducing exposure to, say, silver and adding... some copper and land/property into our ratio/mix. This way you can be assured it's always the least volatile, the strongest, best backed national currency. Abstract tokens that aren't backed by anything except a "utility" miss the point that "utility" can be copied and transferred to fiat/meta-money with real-world backing that magic money can't emulate. Good thing about private "money" tokens like zerp is the governance of the company is VERY good; means Ripple is evolving to meet market demands/needs... so maybe it's not just current utility that gives value but TRUST in the ability to upgrade and evolve in a healthy useful way? So you're betting on Ripple to be future-proof, future smart, forward thinking. I dunno. Just my thoughts/speculations/questions, I'm not saying this is THE TRUTH here!!! Thanks to all for input... have read all posts, good stuff.
  2. Yeah true -- an argument I pondered as well -- but it's ultimately a circular argument. Why? Because as things are more connected, you need fewer tokens since you can hook into any other existing token/network/ledger -- on TAP! As you get more connected, "exoticness" retracts! Not the other way around. Hence, big fan of Interledger here -- that's gonna take care of a huge amount of problems to begin with. I'm just thinking about the nature of money in a deep sense. #deepthoughts It's like the dotcom boom... people thought you need all kinds of bonkers web services and websites and ideas. In the end, you just need a few doing it well. Sometimes monopoly is a good thing, if it's based on agreed standards.
  3. https://medium.com/@jimmysong/why-bitcoin-will-get-scaling-without-segwit-or-large-blocks-772799fab021#.ed0uxxwav Best article on bitcoin this year, lessons to be learned here IMO... one crypto can be fused to/with another -- as long as there's ONE fast universal coin somewhere, the others can "hop aboard". "There can be only one." Zerp? Only until fiat goes digital. XRP positioned as FedEx of digi-money in meantime but hear me out We can have, let's say, EuroCoin (EUC). EUC settles in ~3.5 secs on main-net, ok? Wow, sexy. But can also be linked using smart contracts to ID, device, head office, special redeemers, whatever! Smart money now. Maybe you don't even need blockchain on tap, you can work within a local system of trust, so you can bluetooth or whatever your funds instantly, 1-2 secs even, then verify on slow main-net (blockchain?) later, when you get internet back. No bloody Payment Channels, no Lightning -- something else... Now, EuroCoin is 1:1 with Euro. So inherently "stable" (as per Euro economy at least). Now you take your BTC, your Ether gas, your Doge, and all this tokens CRAP, and you say, I want the speed and advantages of the newest greatest fastest sexiest EuroCoin system. So, you exchange BTC for EuroCoin, i.e. turn it into EUC for TINY one-time fee. Done by contract, cryptographically tied down. Can't release the BTC until the smart contract is up i.e. EuroCoin REDEEMED for bitcoin at the "other side" by multi-sig. Boom, you have $10 worth of bitcoin going as fast as you like. Or, 10 EuroCoin backed by a variable amount of Bitcoin! But the EUC is still exchangeable with other EUC, USD etc? What's the point? Why not hold on to the bitcoin? It might go down/up -- volatile. OK. Why not just use 10 EuroCoin? EuroZone going through Trump uncertainty, war, whatever. Now you have options. One sits on another. But now what about EUC that's part BTC, part zerp, part silver/gold oz, part Virgin Airline Miles, part... whatever the Mint/Govt/Company will tied down for you and validate on the network. Later, bitcoiners realise that bitcoin network is actually BASED ON TRUST (in an algorithm and hope) and that you can abstract trust any way, with any token, at any speed, whatever. Crypto token of choice becomes irrelevant as network effect can spread/leak out instantly to any other token and we all realise it's tulips, only fiat matters, as it always has the last guarantee, and can be backed by any commodity now. Anarcho-Bitcoiners commit suicide globally in death-cult pacts when they finally admit that they all MEASURE bitcoin in FIAT anyway, because fiat REPRESENTS the underlying ECONOMY from which they benefit. And fiat now better in every way: digitalised, fast, backed, flexible, upgradeable, can be a basket mix, etc. OK what about that last token, the One to bridge them all – Sauron's RingCoin? Traders can;'t redeem EuroCoin in hostile, suspicious or technically unready nations. The world's governments collude on a new issuance: WorldCoin (WDC) moderated by the IMF, World Bank, whoever. Some big cheeses, head honchos, great chiefs. What works, what's reliable, what's stable? Oil? Sure. Gold? You bet. Stocks and shares? Maybe. Then maybe you get bilateral agreements to pool currencies/resources/expertise. NOT set in stone like a bitcoin/XRP algo! Nations receive equal measure of MEGAMONEY whatever resources they put in. Bad actors can be taken out, no problem for the coin. Now we have the ultimate bridge currency for the world. And it can be upgraded, policy set by smart contract and governed. Private but not anon, no criminals allowed; traceable. Who'd use XRP versus a universally accepted, incredibly fast, commodity and fiat backed WorldCoin? Maybe you get AsiaCoin and EuroCoin combining to form a EurasiaCoin. They won't join USA for some reason. But the point is it's easy to build one on another if required. So you can reissue new coin to include the previous ones. And on and on. It evolves like nature. Are there room still for competing bridges in such a scenario? Conclusion: I think ultimately, XRP will only be useful for reaching exotic corridors. And those exotic places might eventually be fewer and fewer. Hang on in there – next 20 years interesting. Zerp well placed to bridge, but in the long run, tokens and even zerp gets eaten by insanely smart MEGAMONEY that adapts and evolves like the Borg.
  4. Bitcoin media pump bitcoin causing hype bubbles. Not saying there aren't genuine funds in crypto markets. Just naivete about who guides the real money and why. This isn't Big Business, it's Big Tulips, and the volumes are handy for cartels, who then contribute back to the hype bubble psych snowball.
  5. Of course it is! The entire crypto market is fueled by amateur speculators, "professional" market manipulators, criminal networks and money laundering outfits, tax dodgers, mining/hacking cartels, and all kinds of nefarious legal and illegal activity thriving on the "free money" of the "free market". Ripple can't do much about it except focus on KYC, careful policy and distributing to reputable partners. Bitcoin et al is total tulips-ville. There will be crackdowns.
  6. https://ripple.com/insights/ripple-supports-efforts-drive-thoughtful-regulation/
  7. How odd! I wonder why they removed it. Well, this is a good recent write-up instead: https://medium.com/iotatangle/automating-machine-transactions-and-building-trust-in-the-4th-industrial-revolution-d3219a157396#.nktstfwuu
  8. Earthport does use Ripple for some things, but also uses tons of other stuff. XRP afaik isn't part of the process at all (and won't be for the foreseeable). So there's really no connection. The problem is, everyone here's invested in zerp, so naturally we want to connect dots that aren't there. It's the same for any echo chamber, it's tough to see outside.
  9. http://www.coindesk.com/new-iot-cryptocurrency-tech-evolved-beyond-blockchain-creators-say/ Zerpkiller?
  10. zerpdigger

    Podcast

    Conspiracy theories and "alternative" media are Big Business too.
  11. zerpdigger

    Podcast

    http://www.snopes.com/politics/obama/birthers/studentid.asp
  12. Speculators jumping overboard of late. Let's pray FIs/traders will buy on-market if more mutiny – else it's a skeleton crew left to man a sinking boat. Such a beauty, but cheap u-boats can sink a battleship. Tech's moving fast. Networking effect a cruel mistress.
  13. Not sure, all good Qs. Problem I see is only room for ONE (fastest, best networked) asset as makes no sense for markets to blow profits for no good reason, if all markets ILP connected. Zero sum game for digital assets? Dunno. XRP ahead for now but faster things coming inc ZERO tx fees yet safe network. Even fiat systems e.g. hybrid money or digital basket mixes might be viable for cross-border! Exciting times, uncertain winners/losers. ... ???
  14. What is the best unit for micro-transactions in a machine-to-machine (M2M) economy? XRP? Maybe, you'd be surprised at what's coming, e.g. things with ZERO tx fees. Japan love M2M, want to boost stagnant economy. (Also strong fintech sector there). Since Ripple are quick will play a role, but unit of choice may end up being something just as quick.
  15. Yeah... it will evolve into not being a blockchain!
  16. Do regular consumers have an option use this too?
  17. Yes but then does "stability" include "no price rise"?
  18. Maybe they upgraded so they now require destination tags.
  19. Firefox is also pushing into OS. Google's Gmail desperately wants to control your flow of funds: No they're different horses for different courses. HL actually helps ILP long-run as makes ledgers crypto-compatible.
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