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About jetbrzzz

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  1. Right, in the proposal a stablecoin is just a collateralized IOU. I was asking all the questions because maybe I was just not understanding something? I'm open to some kind of explanation from the speculators about pegging USD to XRP or vice versa, not to put anyone on blast but cause I'm curious more than anything else. The OCC already described multiple types of stablecoins, algorithmic, collateralized, etc. and I think some other banker-type called for re-definition of stablecoins so obviously there are multiple applications, some of which I probably haven't considered.
  2. Recently I've been seeing some ideas about XRP and by association XLM issuing stablecoins for various purposes. Some asking what if XRP = stablecoin at $50/XRP, things along those lines. I went back and watched Dave Schwartz's overview for issuing stablecoins on the XRP ledger using XRP. Good to watch for anyone to get a general understanding of stable coin uses. But I still have general questions about stablecoins so anyone chime in. 1. I don't understand how you would peg XRP to a dollar amount, say $50/XRP. Stablecoins issued by collateralizing XRP create a stablecoin say a "Un
  3. I had to laugh that #5 was, "no one will ever pay $10,000 for 1 XRP ever, so it'll never be worth $10,000." I mean...really? You'll never get wet if you don't walk in the rain either. TBF $10,000 if ever hit would be at full maturity for XRP, maybe in a decade or two. We're talking full government adoption, all the derivatives markets, etc. moving billions and trillions around in CBDCs through XRP. Want to send 'n' swap $5,000,000,000 USDC at $500/XRP from the US gooberment to the Canadian gooberment? That'll be 10,000,000 XRP please. Swap, swap. Here's 10,000,000 XRP worth of Can
  4. Even FX markets which move in pips, 100ths of a cent, are considered pretty volatile. XRP can/will fluctuate but like you said, it doesn't matter if your swap only takes 5 seconds. You don't really care what the price is in 2, 12, 1000 hours, only that there's enough liquidity around to settle as much "stuff" as you need in the next 5 seconds. This is where I'm putting my bet on XRP: not so much that it's going to be stable, but that enough people will transact with it, raising the price (enough to meet the liquidity) then once it hits a price(s) I'm content with, cash out and move into
  5. Ironic that the anarchists can all agree to 'fight the man' but can't agree on how. You'd think unity begets unity, but it actually incites tribalism. Imagine if Satoshi magically appeared from the grave to unite the warring clans for a greater good. Sounds a lot like the 2nd coming of Jesus and they've been waiting 2000 years for that to happen. Martyrs are romantic, but living figure-heads lead organizations. No one's heard from Satoshi since what, 2011? Pretty suspicious at least not chiming in on the current state of things, seeing what it's become. If the Satoshi exit really was a
  6. I should have been more specific about CDOs as they related to the housing debacle. Not that the structure of CDOs is inherently bad, but handing out 3 mortgages to anyone with a pulse then refinancing those with CDOs probably isn't going to end well. That and that people 'lied' about subprime debt being A-rated didn't help either. It's easy to say after the fact, but live n learn.
  7. Miguel Vias theorized Ripple would eventually become a lender of last resort with all its escrow holdings, I assume to act almost like the Fed (of XRP) with its swap lines, much like you wrote about with Ripple and exchanges. What else would they do with 45-some billion XRP, you know? Banks get a bad rap, but only cause they take things too far. Time is valuable and lending it out in the form of interest makes some kind of sense, its just easier to make a crap-ton more money if you leverage yourself up to the eyeballs, fractionally lend and commit whatever other financial sorcery they'v
  8. The oldest trick in the book, if you can't beat 'em, join 'em. The Bitcoiners don't realize institutions are going to do the same to Bitcoin that they've been doing on the gold desks of JP Morgan and beyond with paper trading, Bitcoin re-hypothecation, spoof trading futures, all kinds of dirty things that they don't really get. Personally I hope we get back on gold so the banks start to act right. That or hope the new new banks like Kraken and probably soon-to-be Coinbase, etc will start the right way, leading by example on how banks should conduct business. So far Kraken has to pa
  9. There's no reason it can't be use 'domestically' in the case with archaic Japanese bank laws, say if Japanese banking groups don't trust one another as a matter of course, XRP acts as the trustless intermediary for settlement of whatever is being exchanged. I can imagine that Japanese banks are probably extra conservative, risk-adverse and very tribal, more so than US banks which are already at the conservative end of the spectrum, so something like XRP could be quite useful among them.
  10. US banks barely trust each other too, hence the 2019 repo debacle, no one trusted anyone else to pay them back. Jim Rickards made a good point about currencies and that whoever Satoshi Nakamoto is/was didn't really understand monetary policy. By capping a currency, to any number, you make it inelastic; there's no way to adjust for inflation or deflation. You get abuse both ways, the Fed can debase/inflate the USD or BTC can deflate to the moon. It's a naive solution from someone who didn't really understand that you can't just do the opposite of inflation, lock it into the protocol and
  11. I heard someone mention in an interview that Kitao and Co. are aiming to have XRP used as a currency to buy things at the Osaka World's Fair in 2023-ish. Don't remember the exact people, it was one of those clips-within-a-clip deals. We know they're piloting digital yen already, but why even print a sovereign currency like digital yen if that's what they're planning to use it for? Options I guess, but I wonder if there will be enough XRP to go around if that's the case. If Ripple is using it with RippleNet/central banks to wholesale move CBDCs around and others are using it as an actual
  12. Good thing XRP is UNL consensus. We should be building boats today for the coming flood of Bitcoiners' tears.
  13. Yea, I definitely modeled my addresses after Ripple's account security; use all 8 multi-signature slots with 50% signature consensus to transact, master key disabled. If that doesn't save my XRP, then it won't save Ripple's either, they've got 3-4 billion in some of their addresses. I can live with that, quantum attacks be damned.
  14. I remember reading that article a couple months ago. As for the ECDSA algorithm being cracked, I suppose you could substitute the new quantum version of that into the XRP/any-crypto logic, like some kind of black-hole cryptography where the solution is ever-moving further away towards an infinite singularity or a quantum observer effect-based cryptography where the act of looking for the solution changes the solution. I don't think world governments would take us all to digital currencies only to have the world hacked in 8-10 years, I'm sure there's a contingency plan. Could be the next
  15. Complete tin-foil hat speculation here. Many have speculated for a return to some form of gold standard, combined with a launch of CBDCs. With all the new CBDC regulation announcements coming from multiple countries, many will likely be issuing CBDC within the next few years. If XRP is really going to be the central pool of digital asset from which nations will draw upon to swap currencies/assets, then it's a big boy's toy, not really meant for retail investors and small fish. I agree with some who say it's not even front-end, but back-end facilitating the use of CBDCs, which is what the cit
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