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About Montoya

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  1. Please read what I actually wrote, specifically the word "inexperienced". Sure, such jobs are competitive for 26 year olds with big debt. But by and large, anyone with talent moves on by the time they are mid career, especially in securities or financial law. I also might note that a post being competitive doesn't necessarily say anything about the quality of the candidates. There is a massive glut of lawyers in the US right now, and the bottom 50% need to apply somewhere.
  2. Not surprising. Private sector generally snaps up the good lawyers. Anyone practicing law for the government is either fairly inexperienced, fairly mediocre, or highly ideological.
  3. Any community of speculators that can be manipulated so easily by one man's tweets deserves to be. Perhaps if he does it enough they will eventually become inoculated.
  4. I would be interested in hearing the different tax postures US citizens are planning on adopting regarding the token. I personally like the "restricted stock" approach mentioned by --- I believe it was KarmaCoverage --- but unsure how the IRS will see it. The last thing I want is for my interpretation to be deemed verboten by the feds three years after the fact and then be on the hook for interest.
  5. Good luck working with Coinbase right now. Given the disastrous shape of their exchange currently, I wouldn't expect to hear back from their service department for a month.
  6. Mass speculation is what draws liquidity, which allows distributed cross border transfer sans banks. Who the **** wants to speculate in a stable coin? Without speculators you are forced to use banks to return to local fiat. Unless they are assuming it will never leave their (facebook's) ecosystem.
  7. Unless someone bought their XRP directly from Ripple, I fail to see how they can assign any blame on the company for anything they say or do. There is zero business relationship between the buyer and Ripple. If I buy diamonds from my local jeweler, thinking they will rise in value due to macroeconomic issues, I can hardly blame DeBeers if they don't, regardless of any statement put out by DeBeers. The secondary market for crypto is similar in this way to the secondary market for any collectible or memorabilia. They are a gamble and the blame or praise should lie directly on the person making t
  8. Would be nice if he elaborated on why he thinks this is the case. I can still see no reason why any crypto asset is needed, or preferable, on a shared central bank ledger. I think back to the old Ripple exchange days. We could all make our own IOUs. How much faith we put in a given IOU was directly tied to how much we trusted the issuer. The question comes down to whether we feel the risk is greater with the IOU or crypto volatility. In my opinion, assuming people will inherently choose crypto because of its distributed nature is a big assumption. Look at tether. People still use its IOUs even
  9. True enough. The point was more to demonstrate the lack of a need for XRP. I see zero benefit it could bring to the scheme being discussed in this post. Perhaps I am missing something.
  10. the only benefit i see is that XRP has a known rate of inflation/deflation and is less vulnerable to political issues, whereas holding a nation's digital fiat may hold risks surrounding their monetary policy. But risks also exist for XRP as well.
  11. International settlement is all about trade, eg. "getting stuff". Crypto itself only has value because it can be used in theory to eventually get stuff or services as well. Fiat and fiat IOUs are the same. The only benefit of crypto over fiat is the distributed ledger preventing one controlling agent from manipulating it. In a world with a shared CB distributed ledger, crypto is not needed. The trust issue is gone. The settlement between countries occurs in goods and services. why involve another asset such as crypto when goods and services are already constantly crossing borders? furthermore,
  12. Debt swaps are instantaneous. If on a shared distributed ledger aren't they effectively the same as settlement? Why do we need crypto at all in such a scenario?
  13. I fail to see how this is necessarily a good thing for XRP. One of my concerns for a long time regarding XRP value has been precisely this scenario. While CBs could use XRP as a bridge currency it is not incumbent upon them to do so. ILP allows for instant pathfinding using debt swaps. This would in theory allow CDDCs IOUs to be constantly shifted around on ILP without really ever being settled in-kind. It can do this by finding pathways that foment settlement based upon outstanding trade balances. For example, say Vietnam has an outstanding debt to Australia. They could settle in some sort of
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