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theGlitchKing

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  1. I had heard of bitcoin, as well as blockchain, but I read something somewhere that said 'if you really want to know how good a project (coin) is then google the question "what problem is <name_a_coin_project> trying to solve?" When I did, Bitcoin had it's standard anarchistic custody concept (which I still love, but it's unrealistic), Ethereum had smart contracts which can potentially affect the real estate markets in a positive way, and then there was XRP. The coin itself isn't terribly striking, but the potential behind it went beyond my imagination. I could imagine a world with bitcoin as a store of value, except it didn't have the TPS, or the compute power, or the security to scale globally, Even with the lightning network. plus, we still have to depend on standard pro-sumers, and in truth it would end up corporations, to throw gobs of money at compute power to run the infrastructure. highly unlikely (IMO). The only problem solved was people taking back custody of their money, which no government or bank will allow in any lifetime.. even if it was truly agnostic, secure, and dependable. Ethereum expedited real estate contracts, and other long drawn out contractual deals (maybe even corporate mergers). This was a positive, because your turning months into days, which is fantastic, and if Ethereum has some more TPS, it's doable in that niche, so it had more potential (IMHO), but it still depends on pro-sumer/private compute power, so it would naturally end. The incentives simply aren't there for the average person (globally. I know american's believe that everyone has the same money they do to spend on this kind of thing, but they do not, and belief is not required for that to be the truth) to spend the money on the hardware and power. Eth is a great token, and never to be underestimated. I simply don't believe that banks or governments will allow this type of thing in an open market. Humans are too selfish, and be it that they believe money is power, it's inevitable before the system is corrupt, or it fails in light of another more malleable system. XRP (and the set of ripple products) had the potential to reshape how money flows globally, as well as open up the locked doors on Trillions from banks locked in nostro/vostro accounts, potentially creating a world of new opportunities. Their hardware was paid for by corporate entities that believed in the product, and a few tech savvy fan boys, which is more than enough to get their technology off the ground. Be it that they are partnered with lots of central banks, that is a great sign of adoption, granted it's not US money, but Asia ain't to shabby, especially when you look at how many countries there are. Also, the fact that XRP acts as a 'wildcard' token between currencies, and reduces time to value to seconds from days, and has plenty of TPS to start with, and is suitable for global scaling. It has potential. It exists within the current power structure (banks), which means there likely will be a level of control at some point. Then, with the paired with addition of Codius, someone could create a global exchange, with all sorts of financial instruments, as well as derivatives to completely revamp the investment world, and settle in seconds TO ANY CURRENCY IN THE WORLD. This.... is a game changer for financial institutions. I know because I've seen it with my own eyes. The pain of trading globally with fiat currencies in multiple accounts is hidden to the people who aren't institutional investors. When those people can trade any exchange in the world, with a single currency (be it XRP / Stellar / or whatever other currency that has yet to be created) the world itself will be unrecognizable to the people living today. Now that, is solving a damn problem! creating liquidity, and adding Trillions (if not Quadrillions) of dollars to a global economy is nothing but healthy for it. Making speedy and efficient cross border payments in any denomination is also healthy for the lei person, as well as corporate and government entities alike. That's when I realized I had hit the limits of my imagination.... and I have a biiiiiigggg imagination. If for no other reason, than to invest in a dream that has the (realistic) potential to change the world as we know it.. i'm in. We're nowhere near any of this, but when I measure an investment, I look at the potential, and if I am measuring the potential of 10 blockchain projects, I would still put XRP and the Ripple software suite as #1. If (big IF here) it truly takes off... there's limitless potential.
  2. Under international law a privately owned organization has almost the same rights as a person. If the TPP goes through, a corporation will have the same rights as a person, internationally. This may seem harmless, but I assure you that it is designed by the wealthy to take advantage of multiple countries human rights laws in accordance to profit. That being said... the US government would be forced to recognize Ripple the company, as an individual entity according to international. XRP itself is a currency, so they have no stake in that, but RippleNet is managed by Ripple, unless i missed something somewhere. In short... the US government has no control over how a company manages it's assets, so they will not be able to control any part of that remittance process. That will NOT stop them from attempting to influence the process, or cajole those who manage it. If a single company controls all of the flow of money globally, it will easily be the most powerful company in the world.That is a highly unlikely outcome. There will be multiple players in this space once things start actually picking up. Currently the only country that likes the US being in control of so much money is the US. US bankers and businessmen will follow the wealth around the world, as the hold no allegiances to anything but profits. If international banks migrate away from SWIFT into their own private channels, international sanctions will become a whole new thing. Part of the reason some nations are looking into blockchain technology is specifically to subvert international sanctions. It will be a very interesting world to see when national methods of holding each other accountable through means of financial channels evaporates. I don't think this is a problem that anyone in this space has even begun to think about, and for good reason. We're a looooonnnng way off of that reality.
  3. GS will never enter into an ETF before they have enough invested into the actual coins. Think of them as the casino, they only bet on things when they're sure they can win a certain percentage. With enough coins, they can begin to fix the market to suit their portfolio, and with their subsidiaries, i'm sure they're collecting coins. ten layers of companies before any major name, will be the guy in his basement collecting the actual coins... and he might not even know he works for them. There will be no news about their activity because that's deliberate. There will be no investigations into their activities because it's all legal, it's just buried in mountains of paperwork. the same goes for all of the big american banks, as well as British. They've been at it far too long, though it will likely be all of them that decide the fate of the tokens.... they'll simply make sure it's the ones their invested in.
  4. This is an indicator of how far this crypto currency has penetrated our social consciousness. Context is irrelevant, but the existence of this article on such a conservative site, is a very positive sign.
  5. $1mil please. I'll spend 500k on XRP, have my 1mil XRP, and then buy a new house. There's always a better way to have your cake and eat it too. =)
  6. would it be accurate to say "RippleNet has a 100% uptime for the last 5 years?"
  7. XRP price being high to banks isn't a good thing, that's for investors. Banks are not investors of XRP... maybe a few, but the value is in the utility to them. In a bankers mind it will be the lower the better, because they will back charge customers. imagine the cost of a 40 dollar transaction, going to 4 cents, when cost to you was 25 dollars. The 40 Dollars the customer pays won't go down until their is price wars for those kinds of transactions. other than that, a bank will simply keep the 24.99 and call it 'cost savings'. that means they get back over 1000% in margin for at least the short term before the price wars begin. That is more attractive to a bank than XRP will be in 10 years. @BarryMcHockenue Thank you sir. I've been inside the biggest banks in the world, and watched them do things to people that caused the meltdown in 2008, with a smile on their face. They knew they were leveraged 10 to 1, and they knew the US people would bail them out, they were counting on it.
  8. You'll need to use your imagination a bit on this one, but you may be able to see the lines between the dots. First thing to be said... no one thing is going to force banks to do anything at all. They will not relinquish their grip on the masses so easily. The only thing that I could see possibly forcing banks to move money through an alternate value transfer system (such as RippleNet) is Global Depression, and all nations wanting to release the current lot of their USD in exchange for something else. keep in mind that the USD is used for almost all major transactions. No nation in the world is grateful to the US for being the unofficial currency of the world (except the US, and their institutions). SWIFT seems to be the system to enforce sanctions, which I suspect should be very interesting to see what happens when China and Russia realize they can easily subvert sanctions by using alternate value transit systems. I'm not saying that RippleNet will be the choice for this, nor is there any evidence that any of this is taking place besides the investment of Governments like China and Russia into blockchain technology. A global recession would encourage countries that were pinched (such as say Iran or North Korea) to seek alternate methods of value transit as the sanctions in place right now are already squeezing their economy. Those businesses that exist there, would look for such alternate value transit methods as well, as a means of self preservation if nothing else. Those business and countries have relationships with businesses and countries elsewhere, so they could simply show those who wanted to how to subvert international sanctions. In a Global Depression, necessity of survival becomes much more of a priority. Financial people are sharks, and they will eat each other to survive. The interesting bit though, is that there hasn't been a way (before blockchain) that has the potential to effect the flow of money so radically, that governments have show interest, or at least not like this. if (big if here) RippleNet becomes that system, and XRP becomes the wildcard for all currencies for international transactions... it has the potential to disrupt the entire geopolitical structure we know, and relationships of nations. whatever system and currency can do this, has the potential to reshape things in a way that I can't see, but now we're dipping into the realm of conspiracy theory. Rest assured there is no 'single' force that would make this occur. There's so many domino's that would need to fall that it would make your head spin. When they do start to fall (and in my personal opinion they will, the earmarks seem to be lining up recently), just hold on. PS... you can't create more XRP. Read up on all of that. And if a bank bought ripple, they would likely be buying the software suite, and their client list.
  9. I don't doubt it. It's much more likely to me that JP Morgan has attempted to duplicate RippleNet in some capacity, in order to control it somehow. I wish this was Ripple though, that would make life a bit easier.
  10. How would I get in touch with RIpple to ask them about this? just use the contact form on their website?
  11. Thank you. I figured it probably would, I was simply brainstorming and figured I'd ask before I reinvented the wheel. I was thinking about being able to pay artists directly for their music. I believe in supporting artists, but generally not the institution that promotes the artist. it'd be nice to see talent actually reap the rewards of their art. The thought was basically like an iTunes but artists can post their music / albums, and get paid directly from anyone in the world, and those people can pay with their native currency for downloads.
  12. I was just brainstorming, but i figure I'd throw it out here for some more experienced people to bring some clarity to. I'm sure i'm jumping the gun here, as RippleNet would likely have to penetrate much further than it has currently, but I figured why not open it up to discussion. I was thinking about creating a word press plugin to be able to allow a website to receive payments in any currency they'd prefer, and allow a customer to pay in their native currency. I'm thinking I could write a script to leverage XRapid and crypto exchange, where basically the payment flow would be 'website click > XRapid > crypto Exchange > XRapid > deposit account' I don't know if I understand XVia well enough, but I don't think it has XRP capability, though it almost seems better suited for this kind of use case? I guess I have a few question. 1. Which Ripple Product would be best suited for a solution here? 2. Is that product able to be leveraged with a scripting language (python, perl, bash, etc..) 3. Does the bank of deposit need to be available on RippleNet (I assume this is true) 4. Does anything like this already exist?
  13. If JP Morgan is interested, they'll likely just try and buy it. If they can't control it, their general MO is to purchase the technology or the patent.
  14. In Telco 'last mile' also refers to an international law that requires the last mile of any telco circuit to be purchased from a different vendor than the original provider. This is law that at least the US, China and Europe follow. not sure if it's relevant in this case, just another possibility.
  15. Maybe I missed something. Is the Trump administration somehow constricting the blockchain industry, or does the term impeachment apply to someone other than the US president in this case? I'm just looking for clarity is all.
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