Jump to content

HereIAm23

Member
  • Content Count

    6
  • Joined

  • Last visited

Everything posted by HereIAm23

  1. But the biggest impact for this community, is when banks start acting as "asset custodians" on the behalf of their customers. Banks are already "trusted" by consumer to hold their fiat. That is exactly what a bank account is. I will make a lot of sense for the non-early adopters and non-tech savvy to have their bank hold and possibly insure their XRP deposits as well @BobWay I agree 100%. I have thought it is just a matter of time before Banks start acting as Custodians for holding our Crypto Assets. I also believe it would be beneficial for us as far as converting over to Fiat. The Banks would know exactly where the Money came from and more than likely would not think you were laundering Money and turn you in.
  2. @spiras I would like to add to your post above. To add my two cents to No. 2. Your statement about what David Swartz said reminded me that 20% of the Population owns 80% of the Assets. I don't recall the name of how this works, however, is has been proven before, that when Money or Assets are redistributed evenly, within a couple of Years, the top 20% will again hold 80% of what ever was distributed. (Kinda proves David's Point). My only concern is, not if, but when the Institutional Investors and the general population jump into this new asset class with both feet, I am in the upper 20%, and not wondering why I was left in the dust. No. 4--No matter what fiat a stable coin is tied to, with inflation of the fiat, the Stable Coin will lose its value also due to inflation. There is not a single country out there that does not have inflation. No. 6--How many Bull Runs have there been in the Stock Market. Yeah, there have been some real hard Market Crashes, however there has always been a Bull Run afterwards. Now the Market is at an all time high. As your example, every time BitCoin has had a Crash, the next Bull Run has resulted in a higher price for BTC. I surmise we will see a new high in the next Bull Run.
  3. I took the advice of many people who have been at this much longer than I have. I use the Ledger Nano S for long term storage. Sam I Am has a good youtube video on Security for the Nano. I also use a paper wallet for one of my other holdings. I have a very small amount of XRP on my preferred exchange for quick access if needed. I have also typed up a document for my Wife/Family giving them step by step instructions and hints on how to find, access my Accounts, and recover the Funds, should I become incapacitated or perish. I don't want to be known like Billionaire, Matthew Mellon, who died and left no way for his family to recover his estimated $500 Million in XRP. Although my holdings are miniscule compared to others, with the way hacks are constantly happening, I take the security of what I do own seriously.
  4. Bob, I too accept your Terms. However, I doubt I will ever have a Yacht, I might have an Airplane. I took Programing back in College, (Fortran, RPG, Cobal, Assembler), and got involved with Aviation Maintenance instead. Thanks for the plain English explanations for us old Farts.
  5. HereIAm23

    Hi! I'm Bob

    @BobWay Thank you for coming to XRP Chat. I have been lurking in the background and have immensely enjoyed other peoples questions and the replies. I want to thank @BobWay, @JoelKatz, @nikb and everyone for taking time out of your busy schedules to make this a great forum. Thanks everyone and keep it going. I'm learning a lot.
  6. I first heard of Bitcoin back when it was $29.00. I started doing research and decided I would put in a little cash as I went along. I was going to purchase 4 Bitcoins to start out. I got as far as learning how to obtain a Bitcoin Address but couldn't find out how I could purchase Bitcoin at the time. (No exchanges as far as I could find, and I knew no one who would sell them to me). Fast forward to 2017. I head about XRP through an Investment Newsletter I was looking at joining. (I didn't join). The more research I did on XRP the more excited I became and the more I believed it was not a "Banker's Coin" and was a way to overcome some antiquated problems facing the Financial Industry. I made my first purchase of XRP in October of 2017 and have been buying in small increments ever since. As someone posted above, in the bigger picture, it doesn't matter if you got in at $.006, or $.23 or $2.50, once the price hits double digits everyone will be happier and better off.
×
×
  • Create New...