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Chris_Reeves

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Chris_Reeves last won the day on August 24 2018

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  1. You lost me at "end of banks".... good luck in your investments but your macro understanding feels flawed
  2. The problem with this layout is that there are legitimate reasons why a digital asset could be classified as a crypto-currency and crypto-commodity. If used is cross-border remittances, I would call it a crypto-commodity but in other payment circumstances, it should be considered a currency. They're trying to fit legacy regulatory bodies into a new digital asset landscape. IMO they need to create a regulatory body that's sole focus is the classification, regulation and implementation of digital assets to serve as advisors to bodies like the Faster Payments Task force or the Federal Reserve for CBDCs. Square peg, round hole situation I see playing out here.
  3. For the record, where did they confirm that 10% number you specified?
  4. It'll be a long time before they remove those pre-funded accounts. Crawl, walk, run. once 100% of their volume is going through ODL, expect to see that reduced.
  5. You can never remove all pre-funded accounts. But for a company like MoneyGram who usually needs to hold 100 billion in Nostro/Vostro around the world due to the slow nature of transfers can now hold more like 10 billion due to the speed of processing through RippleNet. The other funds can be returned to USD and injected into daily operations.
  6. Here's my full opinion on DAs used as currency. 1. Stablecoins will be the main feature of currencies as we know them today 2. Utility/Exchange coins (like BNB, XRP, XLM and others) will not be used as a currency like point 1 because they have the ability to appreciate along with utilization. 3. At the end of the day, I expect ILP to facilitate the exchange of goods and services against the tokenization of assets (like real estate, stocks, exchange tokens). That's where they will be used like a "currency". I trade my 500 XRP for a piece of real estate, all of which is possible if assets are tokenized and exchanged through ILP or some other protocol.
  7. What goods are people buying with any cryptocurrency right now? The answer is not much.
  8. Do we have any speculation as to what this project entails?
  9. Non-privacy cryptos (outside of POW) are generally in line with AML rules just due to the fact that you have an immutable ledger with a history that lasts forever. As for the AML incorporation, as regulations become clear and certain cryptos, of which I believe XRP is in this bucket, will be designated as currencies and will be required to run under strict AML/KYC rules moving forward. It's the wild west out there now, but not for long.
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