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Everything posted by KarmaCoverage

  1. https://www.coindesk.com/wyoming-dao-llc-law-passed?amp=1
  2. @Julian_Williams great detailed video. I can't believe what a mess this case has turned into. I liked the part where they went through the speech and Deaton role played what he would ask as the deposing atty. Really makes me wonder if Ethereum could face enforcement action. Pretty sure they located outside the US to avoid that consequences, but the SE(xchange)C can make Coinbase & the rest delist ETH.
  3. I am unaware of this practice, but it seems to make all the sense in the world. I used to have a great deal of respect for the SEC, but this case has been one blunder, after another bullsh!t, sandwiched between a few more blunders, and some floundering for any standing or logical arguments. Honestly it's been a sh!t show since the midnight hour filing by clayton. Extremely disappointing. I'd prefer a serious and forthright SEC. We need/deserve a quality regulator in the securities markets.
  4. XRP has been undervalued for it's entire existence. It's impressively undervalued! The crazy thing is how the broader crypto community has been able to perpetuate the nonsense. XRP has enjoyed the longest time period for buying at good prices than any asset I've ever seen.
  5. China and Russia are loving the delays and bickering. Although it's best to get it done right, rather than just fast. Does anyone know an average time line for these kind of things? I'm guessing years.
  6. Just to make sure we are all on the same page... I assume we all live in Capitalist economies. Thus selling labor at any rate (even the highest) leaves you with a cap on your income. The only way to escape the labor trap is to Make money, not Earn it. This is done via owning a piece of the "Capital Stock" the Equity/Debt of the value generation engine (usually a company or real estate). If you can't fund buying the Debt, or create the Equity from scratch, then the only option is to be in senior Managment and be compensated via Options for Equity. This is how the "CEOs" collect so much value. It's not their salary, like the laborers. On top of that, you can't sell your job. But you can sell your Capital Stock, and often you can sell it for a multiple of the annual cashflow. Say your Capital Stock (Debt or equity) earns $1000/yr, depending upon the industry you could get $5000-15000 for that. In contrast, your job will be sold to a lower skilled, younger or foreign bidder, for idk 70-80% of what you earn. The discount accrues to the owners of the Capital Stock. There are different sets of economic rules. The Billionaires did not Earn via labor their billions, they Made their Capital Stock worth billions.
  7. I literally just called to check. He did go to the hospital, and they immediately admitted him to the ICU ๐Ÿคž
  8. Can we please keep this thread on point with CBDC, a NWO, how XRP as a bridge asset fits in, regulatory issues, etc. This is not a political forum, and I've enjoyed that for years now. I think fbook does politics, not sure, but that's what I hear. I don't even have an Fook account.
  9. I couldn't disagree more, I'm a big fan and have followed all of these guys strategies for years (except zuck), learning closely. Major fan of Bezos longterm thinking, love Buffet's adherence to the fundamentals and his frugality, Gates has been a God send to the world who I admire. I'm not sure how you concluded your thoughts? Re your "idea that used to be common", the way I put it is, "it's not how much you make, it's how much you keep". I spend less than most I know, and have more. People even get frustrated with me, but oh well. I will gladly spend on my business, but I'm a bad consumer, I don't want for things. I was raised with my grandfather as a role model, he was a Depression Era guy. I tear my paper towels in half, and wash out plastic bags, reuse building material scraps, and do my own repair work (except A/C), etc.
  10. Watched both videos. I'm pretty sure but not 100% sure that I saw the whole panel conversation with the BIS guy. Sounds like he is saying "more of the same" regulations we have now, which are implemented and enforced through the commercial banks. I don't have much issue with that (although I'm not a huge fan of comm banks, in fact my desire for CBDC is to offer an alternative to comm Bank deposits). But I don't have an issue with comm banks administering CBDC deposits. Re the senator, the only thing he said that caught my ear was that "digital assets can be used for payments, that's already being done", which sounded like a wink at Ripple's cross boarder payments, but that may be a stretch. I also have some concern and am paying close attention to the issue of Self Custody. If we are to have anything a kin to paper cash in the digital age (intermediary free) then it will be self custody wallets, and unfortunately I'm noticing some increasing pressure on allowing that. I get it, if they want to regulate the non/off ramps to each domestic economy/fiat, but anybody should be able to stash some cash/crypto "under the mattress" if they want to.
  11. That's kind of a doom and gloom angle on things. I don't see CBDC in that way. I see it as an alternative to Commercial Bank deposits, which already have a lot of the privacy & control concerns expressed in that article, albeit without all the potential advantages. I do expect CBDCs to bring new monetary policy tools to the central banker's tool chest.
  12. I live in a current hot bed of Covid spreading, and antivaxers. This is an unfortunate text I had to send my mother today. I'm very worried about him, extremely worried. The rest of the guys who got covid said "it kicked my a$$", and "I've never felt anything like that". "One of the guys with covid just called, he sounds HORRIBLE, can't even take a breath to speak 2-3 words. Idk if I've ever heard someone that bad that wasn't already in a hospital. He still doesn't want to go to the hospital and it's still a hoax."
  13. That's me, I'm the founder. Not my first go around. Currently working on two starting two more crypto related. One could be big for both XRPL & crypto writ large. Anything prior to Vietnam was pre-boomer. I help take care of a Vietnam vet (2 tour volunteer Ranger team lead in the DMZ) who treated me well when I was young. The high interest rates are a whole different situation. Our generation will experience raising interest rates for the rest of our lives. Much more difficult than experiencing falling rates across a lifetime. On a real note, I am nobody. Few folks understand my insights. Which is discouraging, but I keep doing what I do.
  14. I don't personally think any Boomers should hold leadership positions anymore. Not in government, & not in big corporations. I am somewhat ageist, unless someone is functionally qualified. I have one Boomer as a business partner, but he is the exception to the rule. He is brilliant, actually listens and has thanked me because I have explained things that have helped him in other much larger software businesses, and he doesn't think he knows it all. A rare gem, I learn from him, and he learns from me. FYI, any Boomer complaining about computers born after 1945 has never lived a day on Earth without software https://en.m.wikipedia.org/wiki/ENIAC ... which is all of them, given "Boomers" technically start in 1946.
  15. I couldn't agree more with this also. The American ones were were handed the world as their oyster and squandered it in a single generation by funneling the spoils of the world's greatest economic engine to the 1%. Their parents didn't do that, it started in the 70s when they were passed the golden baton. Economies are like ecosystems. You can't have a healthy lake without an abundance of healthy little fish.
  16. I've been nervous about the markets for quite some time. IMHO they have been WAY overvalued since roughly 2018, or whenever the fed lowered rates during a robust economy ๐Ÿคจ. The only thing that makes any sense is that 25% of all the money (USD) that exists was printed in the last 2 years. The last administration did $2T, and this one did $1.9T, which means that assets like stocks and real estate should be nominally up by 25%... but that's not because the profits/rents went up. Bonds are at the end of a 50 year bull run, since the 70s, and some even have negative real returns. There is nowhere to run, maybe commodities but if there is a downturn in economic activity that's not great. I agree with you that the potential for fundamental efficiency improvements of Ripple/CBDCs and freeing up N/V capital will be a boost to the global economy. I'm concerned that Crypto my be the trigger for the downturn. My eyes are on Teather because they are holding Money Market assets, so that is a bridge for a crypto crash to spread to traditional asset markets. There was even a statement recently about Crypto posing a systemic threat to the economy. If Money Markets freeze like in '08, Ripple with their ODL product & XRP's value & low cost of capital could be the white knight. Idk what to tell people, and I feel bad for the Boomers, because the industry advises them to hold Fixed Income assets, which pay no interest, and rates can only go up, which will hurt a bond portfolio's value right when they are entering retirement. Maybe the best place to hide is positive cash flow real estate, using some of this free (adjusted for inflation) mortgage money. Just don't get over leveraged and make sure it's positive cash flow with good tenant quality. Something is going to happen. I think your timeframe is reasonable, give or take 6 months. This talk of raising capital gains rates could also be a trigger, that would instantly reduce the value of the equity, bond, & real estate markets. Crypto also.
  17. Does anyone know about, or have links to info about Wyoming's crypto regulatory framework? I'm pretty sure Ripple Inc moved their domicile there some time ago. Also pretty sure Wyoming's crypto framework is being used as a model for the Federal level framework.
  18. The issue there is Elasticity. Ripple will end up playing a similar role as central banks, so in bad times they may want to lend at larger volumes to help, but unlike a central bank they cannot just create more fiat. 5% may end up being very valuable but it is not a lot of elasticity or wiggle room. Compared to the Central banks who technically have an infinite supply of elasticity.
  19. My main reason for believing they dont want to get rid of their XRP is a fundamental business model one, that is both unique to Ripple, and not unique to network businesses. Monetization of the flow through the network. In all network businesses, like Google monetizes the search through the graph of the internet. Fbook monetizes the flow of information through their social graph. Railroads monetize the flow through their rail networks. Telecom networks monetize the flow of data through their wire/wireless networks ... etc etc etc. So with Ripple, there is one difference from the rest. A difference that is unique to crypto networks... the scarcity of the digital asset, which is the denominator of the value, and it IS Value that is flowing through the network. This is different than say Google having a unfixed supple of searches, or fbook having a unfixed supply of ads, etc. For Ripple to sell off all their XRP, would be to shoot themselves in the foot. I say this because the LoC offering enables Ripple to monetize the flow of value through XRPL (collect interest income), & would additionally cripple their ability to compete aginst alternatives like SWIFT by incentivizing (reduce the cost) of value flowing through RippleNet. If they can loan XRP at rates that make the marginal cost of using the networks they have built lower than the competition, I think they will be bigger than Google. They have a "zero marginal cost" on XRP, so it's not crazy to think they can. If they sell it all off in short order, it will be one of the biggest strategic blunders in crypto, big mistake! So far I've only been impressed by their strategic understanding and moves. I could belabor the point, and have in the past. All I'll say is their focus on interoperability with ILP at first, seemed like "falling on their sword", but then I realized they want to play on a level playing field, because their tech & team is better, the RippleNet network is better positioned, and to the essence of this thread, their inventory of XRP is a huge weapon enabling them to reduce the marginal cost of value flowing through XRPL by loaning it to folks like FlashFX. This makes FlashFX's cost structure of using XRP a marginal one, so they can easily just upcharge their clients and make a low risk spread. I'd be shocked if they lay down that XRP inventory weapon (via selling out and moving on) when they are still in the opening bouts of this new crypto industry. We dont even have regulatory clarity yet.
  20. Thank you by the way! I've personally lamented to myself, and miss the early days when there was more discussion, and disagreement, and back & forth conversation around how this stuff can, or is being done, or doable. That's how I learn, and I enjoy learning. I have learned a ton from this community, maybe even more than I learned in college. I see another spate of innovation occurring, so maybe with new things to figure out and discuss some of the engaging conversations can come back ๐Ÿคž
  21. This is where we disagree. I dont believe Ripple wants to dispossess themselves of their XRP inventory. I also think they have a vested interest in creating fiat:XRP volume. "Completing the circle" doubles the fiat:XRP trade volume. Additionally, its not a "loan" if the XRP is not returned to the lender (Ripple), one way or another. Otherwise it's a sale. Regarding the interest payments on the LoC, I could see Ripple keeping that in fiat, they will have a tax liability denominated in fiat, so no reason expose themselves to exchange rate risk. Also, I'm not speaking with any access to or knowledge of the actual contractual terms. I dont work with any of the involved parties, although apparently Quincy joined FlashFX, but that was after we spoke. I can see the integrations he is working on being attractive to FlashFX.
  22. Since Flash FX is paying back for the XRP they sent over seas on behalf of FlashFX's client, Ripple is loaning FlashFX the XRP's value. The loan is paid back in fiat, dancing around any rules about Crypto, because the loan is "denominated in fiat". This is exactly what I outlined. Now to complete the circle, Ripple should (but dosent need to) repurchase the XRP. I like the win/win idea of short circuiting this part of the process by having Ripple buy the XRP back at FlashFX, because they create volume for FlashFX (or any exchange/Loc partner) so the exchange wins TX fees, Ripple wins XRP utility & interest on the loan. That part is slightly different than what I outlined, but it works to achieve the same end result, so I like it.
  23. I'm literally watching it now, it's pretty on point so far Edit: I honestly dont know who these guys are, but they definitely know what they're talking about. Link for the lazy
  24. This is how I envisioned the loans happening. Loan XRP, but denominated the loan/LoC in local fiat terms. This keeps everything clearly legal, and side steps the lack of regulatory clarity (it's a fiat loan). To take things full circle it would go like this. Ripple makes an LoC agreement with an Exchange (no XRP movement) > the Exchange's customer wants to buy XRP > the Exchange taps the LoC (XRP moves to Exchange) > exchange credits their user's wallet > user moves XRP to pay something moving the XRP to a new jurisdiction > nobody cares where the XRP has gone... Now you have to unwind the loan/LoC. This creates buy pressure, because either the Exchange has to buy XRP + more XRP to pay the interest expense. Or Ripple has to accept fiat, then it's Ripple buying back the XRP (they could keep the interest denominated in fiat). I was thinking this is what was happening when several months back, Ripple was a net buyer of XRP. This arrangement aligns the risks of multiple parties in a good way. At least that's how originally envisioned it in my "Ripple as a lender of XRP" write up that preceded the "What is xPool" write up, which preceded the "How xPool" write up. This goes back to 2017, hard to believe it's been that long... Essentially I was using Payment Channels to create "loans" and trying to align the risk exposure goals of the multi parties.
  25. No, but I would have joined them in the early days. I'd like to think I've helped though. I've seen Greg Kidd use my postage stamp analogy with congress. I'm pretty sure the XRP Loans are being done using the methods I articulated in my How xPool write up. I'm also pretty sure I was the first to point out that XRP has Utility value, because @JoelKatz used to reference my explanation on the official forum where I was "FinSin" (a name that was a wink at where Ripple was going, I knew FinCEN would get involved, which they did a year or so later). One of their board members thanked me for pointing out that he overlooked the "Just in Time" advantages of avaliable liquidity... aka ODL I have a lot of respect for the Ripple team, they have impressed me almost continuously with their conceptualization of creating an IoV. I have learned a lot from them and this community. I believe that an IoV will be an improvement to humanity, so it's a worthwhile effort. I think most of the XRP hate/fud, is rooted in other crypto folks knowing in their gut that they are out matched by Ripple's tech & team. This market is still not fully developed. We need a thriving derivatives market for XRP. Otherwise there isn't a real way to do risk management. That's probably going to be the last thing to get developed. From there, the market will just have to grow organically. Honestly, I've been disappointed that they have never engaged me, but oh well.
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