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Everything posted by Still1

  1. https://ethereumworldnews.com/demand-for-ripple-inc-solutions-simply-too-high-in-asia-pacific/amp/ In a post by Ripple Inc’s official Twitter handle, the cryptocurrency company revealed that there is an increasing demand for its remittance solutions. However, the existing services cannot cover this ultra high demand. Ripple Inc tweeted saying “Demand in APAC for fast, affordable cross-border remittances are growing, but existing services can’t keep up.” This statement was made at the Ripple Inc Regional event in Bangkok. Malaysian Bank, CIMB previously partnered with Western Union to help their customer send money to their families in other parts of the world. However, Thomas Kiong, Senior Managing Director of Group Treasury Sales and FX at the bank admitted that the economics of the partnership favored Western Union more. He revealed that the bank did 80 percent of the work but only got 20 percent of the reward.
  2. The video is just over 2 minutes long and I think that it is worth the effort if you are a crypto investor
  3. I saw this video from Tony at Thinking Crypto and wanted to pass it along. He started a grass Roots effort to Tweet your local state representative"s and congress people to bring attention to the importance of the Token Taxonomy Act. He is asking to have people tweet #PassTokenTaxonomyAct Here is a link to his YouTube video:
  4. It looks like the states are creating their own regulations similar to NY. California and some others evidently are following NY's lead. From what I hear this will be very restrictive.
  5. I have been following 5 different YouTube crypto channels for over a year. I don't want to mention any names because I believe that the intentions are probably good but some of the more popular channels are getting a little carried away with their own personal bias and exaggerating the news in my opinion. I'm wondering if anyone else has been noticing this? I understand there is excitement in the space but I don't think this is necessary 😳😳
  6. I watched the interview on Alex Cobb"s channel. Thanks to Alex for streaming it! My take was, yes David is excited about Ripple and XRP but he also conveyed that they are in the very early stages for XRP adoption and uses and he made it seem that they have a long way to go and there is a lot of uncertainty with crypto in general. It was a bit of a let down for me because I thought that they, Ripple, were a bit further along at this point. It might be time to lay off all of the different You Tube XRP channels for a while because they offer a lot of speculation along with the news. Still holding strong here!
  7. The gaming industry is a multi billion dollar industry. More use cases and more adoption, bravo Ripple! Video game revenue tops $43 billion in 2018, an 18% jump from 2017. https://techcrunch.com/2019/01/22/video-game-revenue-tops-43-billion-in-2018-an-18-jump-from-2017/
  8. More use cases, more adoption and more decentralization are all positives for a favorable SEC ruling for XRP. Not to mention that the gaming industry is a multi billion dollar industry! https://techcrunch.com/2019/01/22/video-game-revenue-tops-43-billion-in-2018-an-18-jump-from-2017/ Video game revenue tops $43 billion in 2018, an 18% jump from 2017.
  9. https://www.scribd.com/document/401696839/Clayton-Etheruem-Crypto-Response#from_embed While Clayton did not reference Ethereum or any other cryptocurrency by name, he confirmed that he agrees with Hinman’s analysis of what crypto assets fall under the securities classification. In a key section he writes: “Your letter also asks whether I agree with certain statements concerning digital tokens in Director Hinman’s June 2018 speech. I agree that the analysis of whether a digital asset is offered or sold as a security is not static and does not strictly inhere to the instrument. A digital asset may be offered and sold initially as a security because it meets the definition of an investment contract, but that designation may change over time if the digital asset later is offered and sold in such a way that it will no longer meet that definition. I agree with Director Hinman’s explanation of how a digital asset transaction may no longer represent an investment contract if, for example, purchasers would no longer reasonably expect a person or group to carry out the essential managerial or entrepreneurial efforts. Under those circumstances, the digital asset may not represent an investment contract under the Howey framework.”
  10. It seems that there has been an influx of new members here on XRP Chat lately. I think that's great and imo a good sign that more adoption is taking place as well as an expanding footprint for Ripple and XRP
  11. Nice to see an well written article. It seems like this person actually has done some research on XRP as well as understands the technology pretty well. I was shocked that it came from Forbes 🤠
  12. https://www.coindesk.com/xrp-is-now-live-and-trading-on-coinbases-consumer-app?amp 🤠🤠👍👍 Coinbase is adding XRP to its retail platforms, allowing all customers in select jurisdictions access to the world’s third-largest cryptocurrency by market cap. On Thursday, the company, which already offers retail consumers access to bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin, USDC, zcash, Brave’s Basic Attention Token, the 0x protocol token and withdrawals of bitcoin cash SV, announced it would be adding XRP to coinbase.com, as well as its Android and iOS apps. “Coinbase customers can now buy, sell, convert, send, receive, or store XRP. Please note that inbound transfers and many sends require the specification of an XRP destination tag,” the blog post noted.
  13. I believe that cryptos that are not linked to a countries issued currencies can act as a buffer asset in times of economic crisis and high inflation. Not as much in the US as in other countries.
  14. After the financial crisis of 2008 and the subsequent bail outs and the printing of money (US dollars) anything that is linked to the US dollar is subject to high inflation. I can't see how JP Morgan's coin can solve the issue of devalued currency risk or inflation risk. The other issue for JPM coin in my opinion is that many countries around the world have been trying to lessen their dependence on the US dollar. I can't see how forign banks would be quick to adopt a US dollar stable coin that is controlled by a US bank.
  15. He provided some great insight into the bank issued coins here, nice find! But Garlinghouse has labelled it deeply misguided. In a post on LinkedIn, he says: “A bank-issued digital asset can only really efficiently settle between the banks who issued it. Then, two scenarios can play out. Scenario one: all banks around the world put aside competitive and geopolitical differences, adopt the same digital asset, agree on its rules, and harmoniously govern its usage. Fat chance. Scenario two (the more likely scenario): banks not in the issuing group issue their own digital assets with their own sets of rules and governance.” We’re seeing this already, he argues, with Citi’s Citicoin and Goldman Sachs’ SETLcoin. “The result would be an even more fragmented currency landscape than what we have today. If banks of different digital asset groups want to settle trades with one another, they’ll have to make markets between their unique digital assets or trade between their digital assets and a common fiat currency. What a mess!” Another problem with the Utility Settlement Coin is it will be backed by a basket of currencies. Once backed by cash, it’s no longer an asset; it’s a liability, Garlinghouse claims. Trading liabilities then ultimately requires moving cash across borders, re-creating today’s system but adding more friction. “We strongly believe banks need an independent digital asset to enable truly efficient settlement and we believe XRP (the native digital asset to the Ripple network) is best positioned for that role. It goes back to the fundamentals of what makes digital assets unique and special – they’re universal currencies, meaning anyone can use them as units of value anywhere in the world. That universality gives digital assets global reach and the ability to settle much faster than traditional assets,” he writes. “Compared head to head with other independent digital assets (like Bitcoin or ether), XRP settles the most efficiently cross-border, in just seconds. In fact, we’ve run tests with global banks to prove XRP can lower liquidity costs for cross-border trades. More to come on that front."
  16. I don't see this as a positive since his role was evidently to promote XRP. I can only come up with the thought that Ripple is trying to distance itself from regulatory uncertainty by no longer promoting the token...
  17. It can happen very fast once a tipping point is hit. Who knows how long it might take but technology today is not linear in it's growth curve It grows exponentially. It makes me think of Moore's Law. https://en.m.wikipedia.org/wiki/Moore's_law
  18. In his book The Singularity is Near, Ray Kurzweil referes to "The knee of an exponential curve". An inflection point in time at which an exponential trend becomes truly noticeable. Shortly thereafter, however, the trend line becomes explosive and appears essentially vertical as the impact of an exponential growth curve is felt. This makes me wonder, with all of the continuing evidence, that we will reach a tipping point, where the sum of many small things eventually makes a massive difference in adoption and price if XRP.
  19. https://dailyhodl.com/2019/01/23/ripple-ceo-compares-xrp-to-bitcoin-says-crypto-will-transform-global-finance-world-economic-forum-in-davos/ “There is an opportunity to fundamentally rewire how modern financial infrastructure works in the pre-funding. You have about $10 trillion pre-funded to banks around the world in order to enable cross-border payments. If you could take advantage of crypto liquidity to fund real-time payments, you could actually take that $10 trillion and use it for other purposes, which is great for society. It’s great for banking. It’s great for industry. So that’s what we’re trying to rewire. We’re lucky to now have about 200 banks that have signed up. We’ve got a long way to go." “Those are what we typically call those big money center banks. Citibank is actually the largest of all of them, and they represent about 13% of global liquidity management. They make about $8 billion a year in profits from those cross-border transactions. That is going to change. We can debate if Ripple will be successful, but as these guys have discussed, that will change.”
  20. https://www.ccn.com/ripple-5-more-banks-fintechs-will-use-xrp-cryptocurrency/ Ripple announced today that a total of 13 more financial institutions had joined RippleNet, putting the total at over 200. Of these, five of them will use the ripple (XRP) cryptocurrency for liquidity. Institutions named in the press release are: JNFX, SendFriend, Transpaygo, FTCS, and Euro Exim Bank. While they will use XRP to access liquidity on demand, the 8 others will not.
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