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  1. Imagine you have a $1000 of another currency in a bank account and it’s value goes up against your native currency so that’s it’s worth $1500. That’s great but the cost everything else you have to buy with your native currency just went up 50%. How’s that extra $500 going to help you?
  2. The precedent is important because it has to say why an ICO is a security. It narrows down the argument. Maybe we can have some of the lawyers in here give us some insight?
  3. https://www.bloomberg.com/news/articles/2018-09-11/u-s-judge-says-initial-coin-offering-covered-by-securities-law
  4. The best part of this story is the comments ?. I’m going to go buy some gasoline to barter for food.
  5. At the end of the day I don’t see the Stellar/IBM solution being able to compete with ripple. Stable coins have issues too. https://www.theguardian.com/technology/2018/sep/11/stable-coins-bitcoin-cryptocurrencies-tether
  6. By all means, please put your money where you feel it’s best. I hope you make money. I really do. This space is big enough for many companies to make incredible profits. Having said that; The optics on this are terrible. I went over to r/stellar and the first thing I saw was a big post of how the stable coin is a “first step”. I don’t think XLM is going to be used for this. Why would they move to XLM after proving their stable coin works and get the institutions to buy in? So after all the hard work they’re going to say, hey you know what would be a great idea? XLM instead of the coin everyone agreed to use! This is the part that I don’t understand. If XLM is the better option down the road, then ripple has already won using XRP out of the gate.
  7. Unless I’m mistaken, the money to buy Chain was from XLM. IBM’s protocol is using its own stable coin with no announcement of ever planning to use XLM. I feel bad for the XLM bag holders. They funded their own demise. Nice touch Jed.
  8. The USD is in trouble and it will have a devaluing. Not to the point of hyperinflation but it is over-valued and only kept its current value because it’s the Reserve Currency. Can XRP replace it as the reserve currency? Maybe. In the right conditions it just might happen. Global Finanical crisis part 2 - it will be much worse than 2008. Interest rates cannot be lowered to fuel borrowing. The US printed a vast amount of money in 2008 so if they do that again they risk hyperinflation. I think we are headed for stagflation. https://finance.yahoo.com/news/vulnerability-americas-lower-income-brackets-poses-risk-economy-122920739.html “As overburdened households are eventually forced to curb consumer spending to service their debt, the economy will slow and defaults will increase, leading banks to pull back on credit — severely if the banks themselves are over leveraged and lack the capacity to absorb credit losses. This is precisely the cycle we experienced in 2008.” https://www.reuters.com/article/us-usa-fed-recession/markets-may-be-signaling-rising-recession-risk-fed-study-idUSKCN1LC1VO?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5b84679204d301595da8f79e&utm_medium=trueAnthem&utm_source=facebook “In light of the evidence on its predictive power for recessions, the recent evolution of the yield curve suggests that recession risk might be rising,” wrote San Francisco Fed research advisers Michael Bauer and Thomas Mertens.” Enough countries support a new currency as the standard. https://www.bloomberg.com/view/articles/2018-09-06/how-the-u-s-has-made-a-weapon-of-the-dollar “most candidates are reluctant to take on the role of a global reserve currency because of tensions between national and global economy policy. The economist Robert Triffin pointed out that the country whose medium of exchange is the global reserve currency must meet external demand for foreign exchange. This necessitates running large trade deficits, requiring fundamental changes in the mercantilist policies of Germany, Japan and China.” https://abcnews.go.com/Business/story?id=7168919&page=1 “China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week's London summit on the financial crisis.” https://www.bloomberg.com/news/articles/2018-08-27/eu-looking-to-sidestep-u-s-sanctions-with-payments-system-plan “German Foreign Minister Heiko Maas also weighed in Monday, saying the EU is working to protect economic ties with Iran and keep payment channels open. Maas reiterated a proposal to make international payments systems like Swift more independent of the U.S.” https://www.zerohedge.com/news/2018-08-21/germany-calls-global-payment-system-independent-us “In a stunning vote of "no confidence" in the US monopoly over global payment infrastructure, Germany’s foreign minister Heiko Maas called for the creation of a new payments system independent of the US that would allow Brussels to be independent in its financial operations from Washington and as a means of rescuing the nuclear deal between Iran and the west.” And lastly, would the US allow it? I say yes it would. Being the global reserve currency has its pros and cons. https://www.forbes.com/sites/charleswallace1/2018/08/14/are-russia-and-china-trying-to-kill-king-dollar/ “China even blamed the dollar’s international role as one of the causes of the financial crisis in 2008. The problem is that no other currency has stepped forward as a good replacement.” “As Yale economist Robert Tiffin explained in the 1950s, if a country’s currency is the international reserve currency, then it has no choice but to run a current account deficit. If a replacement is found, as the dollar replaced the British pound in the 1920s, it may be more likely to have trade surpluses – which is what Trump has said he wants.”
  9. Many incumbents cannot transform their business model. In order to take advantage of the tech they may face hurtles we have no idea about. No point in having offices worldwide. The sender and receiver just need a phone. No point in having funds locked up all over the world to exchange currencies anymore. Western Unions vast remittance corridors were just rendered useless and they have zero advantage over ANYBODY using ripple tech. Any start up can now move money of any sum to any place. WU business model is dead. For all we know they see what is coming but are unable to adapt so they discredit the tech in order to pacify the share holders. Or they may be ignorant of the danger they face. It wouldn’t be the first time. ? 1876: “This ‘telephone’ has too many shortcomings to be seriously considered as a means of communication.” — William Orton, President of Western Union. And my favourite quote about a tech start up is: "Neither RedBox nor Netflix are even on the radar screen in terms of competition," Blockbuster CEO Jim Keyes told the Motley Fool in 2008. "It's more Wal-Mart and Apple." His video-rental chain filed for bankruptcy in 2010.
  10. The bitcoin early adopters wanted to be free of the banks but that comes at a price. You are also no longer protected by the regulations that are established for that industry. Live by the sword, die by the sword.
  11. Ok too be fair I was assuming we were talking about thugs, not a higher “professional” level criminal ?
  12. You can have a phone wallet and a savings wallet. Savings wallet is not on your phone. Keeping enough on your phone wallet for day to day spending. Should thugs force you to transfer from your phone you only lose what’s in your phone wallet. Enough to make them go away but not your life savings. Same principle for storing cash/gold in your house. Have more than one safe. The decoy safe has enough that thugs think they got the goods.
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