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eXtRaPolate

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About eXtRaPolate

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  1. This thread really took a drastic swing. IMO Gold is worthless. It only has value because the governments recognized early on that it was a limited resource, and they could falsely peg their printed paper currencies against it. (Disclosure: I really like conspiracy theories and playing devil's advocate, but this one is pretty well supported). Gold really doesn't serve any useful purpose. In fact, most countries fiat currencies haven't been gold-backed since the early 1970s. It's only retained by countries out of fear that one country would possess all of the gold, and obtain some sort of power status because of it. Someone on here recommended the book Currency Wars about a week ago, and it will blow your damn mind... Highly recommended. Also IMO: Large investors realize that Bitcoin's only value is being first to market, and are now trying to justify it by calling it digital gold. I wouldn't be surprised if they literally try to peg it against gold in an attempt to justify it's future value. Lastly, the best thing that could possibly happen is for Bitcoin to run all the way up to $100k or even higher. Every single time it starts to take off it exposes itself as inefficient and out-dated. At that level it would consume significantly more energy and only draw more negative attention to itself. Bitcoin will likely not go away quietly, but it will likely reach a top-out value that it will not go beyond based on its own inefficiencies.
  2. "explicitly said that they're going to be using blockchain to do it" "it's confirmed that blockchain (distributed ledger technology – DLT) is going to be at its core"
  3. I think it is awesome that advancements in technology bring about strong competition within this industry. It's what stands to make the world better for everyone. Even SWIFT finally had to admit that their technology was outdated and was long overdue for a change. "If you can't beat them... join them."
  4. It's easy to take a speculative point of view of other cryptocurrencies that are on the market. The market in general still seems to be in its infancy, though there have been great strides since its inception. There is a lot of competition, and those that have even the smallest investment into the market (myself included) tend to choose a limited number of cryptocurrencies and defend them to a point of exhaustion. I think there is a better point of view... let me explain. When I first dipped my toes into the realm of crypto (that would soon engulf the last two years of my life) I had extremely limited knowledge, and I had only heard the name Bitcoin in passing. I knew nothing about the technology, and nothing about its capabilities. Much like many others, I was very reluctant to entering this market. I found XRP the very first day that I gave this technology a chance, and I haven't turned back since. The first explanation that I found that gave me clarity about what XRP and the ILP was purposed for was probably on this sight (There are sooooo many great contributors here). It was compared to the origins of email, and how an AOL account could only correspond to another AOL account. Same with hotmail, yahoo, etc. This all changed with the introduction of IMAP, POP3, SMTP and HTTP, which essentially works as a communication net laid over all of the domains to allow them to communicate seamlessly in the background without you being any the wiser. The ILP is designed to perform this same exact function with regards to currencies of all forms. There have recently been companies (e.g. Facebook) and banks (e.g. J.P. Morgan) beginning to develop their own cryptocurrencies. According to my personal research, it doesn't seem as simple as just plugging your USB device into the crypto market to interact within its boundaries. Companies have always had levels of internal ledgers from the front end of stores (registers), to the back end of stores (store manager's computer), to the financial department for records keeping. It's really not surprising at all that companies are beginning to develop their own cryptocurrencies in an attempt to add a local level of control within their own business. The ILP ledger would seemingly take away a large part of their established systems which have become an industry standard over centuries of business operations, and reluctance to adoption is not surprising because of this. That being said, the crypto community as a whole should welcome these alternative cryptocurrencies that are being developed within the bounds of a particular company instead of feeling threatened by them, because they are representative of companies attempting to plug in to an emerging industry which can benefit the world's economies. I wouldn't be surprised if (eventually) every business/bank around the world has developed their own internal cryptocurrency so that they can actively participate on the market. If anything, those isolated currencies would allow the industry to span even further out and reach deeper into different industries. I'm open for counterarguments to my thoughts, but please be respectful in your approach. Thanks!
  5. I've been in this forum for over two years, and I've posted a grand total of 54 posts (including this one). I'm primarily a silent observer, which I'm sure that I'm not alone. The main reason for that is due to the negativity that is so prevalent here from some individuals on here. It's quite unfortunate really. I believe firmly in what Ripple represents as a company, and the capabilities of XRP as a cryptocurrency so I will continue to HODL. Not sure why people default to slander and hate unnecessarily.
  6. SEC FinTech Forum is beginning. https://www.sec.gov/fintech-forum/index.html
  7. About the only thing I would expect is a possible hype-bump in price. To answer your question though, Amazon choosing to "go with the Ripple platform" doesn't necessarily mean that they will be utilizing XRP initially. Like many other businesses, they will likely begin with XCurrent.
  8. I have to give a lot of credit to the self-proclaimed "Bitcoin Maximalist"... He stayed a lot more neutral then I had expected of him. Great share!
  9. I know that there has been a lot of discussion in the past about the Ledger Nano S, so I figured I would share that there is an updated version available for pre-order and available late March. https://www.ledger.com/products/ledger-nano-x *If this doesn't belong in General Fintech, then please feel free to move. Thanks!*
  10. Possibly due to a non-disclosure agreement? Much like anything else in this industry... we'll all just have to speculate until there is irrefutable evidence to support it.
  11. Please pardon my general lack of knowledge, but is Brad the only guest with direct ties to a cryptocurrency in the entire lineup? I hope there is some clear direction established for the future of regulations from this.
  12. I'm just looking for a better understanding of the deflationary value. I'm not getting my hopes up on how that will affect price. Thank you everyone who responded.
  13. Could anyone clarify the specifics on the deflationary value? I used https://xrpcharts.ripple.com/#/ per @takida's recommendation and I can see that the counter is ticking down at 1/100 of an XRP at a time. I thought that 1 XRP was burned for every 2 transactions on the XRP ledger... am I wrong on this?
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