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About LordAMV

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  1. Is this why XRP is up 14%? Also curious if XLM is on LINE because it's up 22%.
  2. So far there has been a lot in the press about how we are on the cusp of another recession. My question is, how would this potential recession impact crypto? Last time we had a major recession, crypto was barely a thing so the impact would have been correspondingly small. It is much larger now (although still considered in its infancy). What are your thoughts on how this could impact crypto in general, and XRP in particular?
  3. It also includes a tweet of Ripple momentarily hitting $350 USD. While I really like the tone of the article, including that tweet isn't exactly doing it any favors in the credibility department.
  4. hello all, I am trying to find a list of exchanges where we can directly trade fiat for XRP (and obviously in the reverse). I want to make sure I am registered with them now as opposed to later when XRP increases in value (whenever that may be). So what are the favorites among the community? For reference I am in the US, so of course for reporting purposes it's easier to use a US based exchange but I am not opposed to using one based outside the US.
  5. And yet the banks all collaborated in order to develop SWIFT...which is directly threatened by Ripple and XRP. Do you not see the irony in your comment?
  6. I would venture a guess that he means they aren't cleaning up shop because the price isn't moving at all...but I could be wrong as to his reasoning.
  7. Didn't we just get knocked down to #3 again? I'd feel safer making that comment when we're knocking on BTC's door from a market cap perspective.
  8. If the other banks were to all make their own DA's, I don't think this would be a problem if they also chose to set it to $1.00. This would conceivably reduce the need to have some sort of intermediary asset, no? If one JPM = 1 Citibank coin = $1 USD, etc. is an intermediary necessary? You are right that banks in other regions might not follow this but we already see cases where the USD dominates and is used as the standard of trade, for example in the oil industry. It is still used as the medium in much of international finance as well because of this. This could be another step towards that...although I admit I am not an expert at all in finance or the tech behind this field, it just seems to me that could be one way to get around what people see as intrinsic problems. Clearly the banks united to implement Swift, I don't think it's much of a stretch to think that they might also collaborate to set their coins all at a stable value. The key would be that each bank's DA would be able to operate on a singular network, whether that's the Quorum mentioned in the article or a future one managed by Swift.
  9. My opinion on your questions: - Why would another bank trust JPM Coin? As they mentioned they do a great deal of business with other banks and often perform certain functions smaller banks can't on their own. It stands to reason that there is a certain degree of trust or that JPM can use leverage to 'force' a client bank to use this tech. If the value of the coin is always set to $1, then it's to be expected that it would be more trusted than a coin that fluctuates in value. This is like asking why Swift exists - clearly the banks didn't trust each other as competitors but they still saw fit to form an international consortium. - If another bank makes their own coin, how do they settle between their coin and JPM Coin? Obviously I am no techie, but I think Swift would be the answer although it may not be for some time. Swift (and the banks that make it up) are not interested in losing their position to XRP. It stands to reason they are hiring talent in the programming field who can figure out how to do this - as much as I like Ripple, they're not the only brilliant folks in the space. - Why and how is a stablecoin a threat to a non-fiat backed digital asset? I am not so sure on this one - but I would think it's all about the functionality of the coin as opposed to whether it's not backed by fiat. If they produce something with similar functionality as XRP, the thing in their favor is the JPM Chase name, the Swift name, their history and network of customers, etc. I would think that makes it a threat - it would be foolish to assume it isn't in my opinion. I have to say this is the first time I am actually worried about XRP. I think it speaks to the use case Ripple is pursuing, and it should have been obvious that this was where things were going. In my humble opinion this constitutes a real threat to our chosen DA, as global familiarity/trust with JPM and other large banks like them will provide them with a platform for this tech that XRP and Ripple do not have globally. I could be entirely mistaken and in fact I hope that I am - but to me, these questions do not automatically answer themselves in favor of XRP and Ripple. I certainly hope these are two different use cases but the banks formed Swift in spite of competing interests, I do not think it's much of a stretch to consider they would do so again, especially if they can now just create their own DA.
  10. Ok - so how many actual banks are using XRP at this moment? I know there's a tally of about 200 FI's but most of them aren't banks, nor are most using XRP. What's the actual tally of bank customers using XRP?
  11. https://techcrunch.com/2018/10/17/omni-xrp/?yptr=yahoo Thoughts? Interesting how the author seems to put XRP and crypto in general down...
  12. I am aware that the federal capital gains tax is there regardless of the state, but I believe spiras was referring to states that do not have a personal income tax (hence assumed no capital gains tax).
  13. Can you clarify how this ruling would impact capital gains at tax time? Also, this probably deserves mention - where did this ruling take place?
  14. Apparently the only state on that list with no income tax is Washington...jeez!
  15. Well damn it...I loaded up Bittrex and everything, have my account set up. But I don't live in any of those states...do they have a timeline anywhere from when they will add other states?
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