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MatinMontreal

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About MatinMontreal

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  1. Thanks for sharing your perspective but we all have different strategies that we adopt. Most laypeople who try to time the market will get it wrong. I’m a long term HODLer and I’m not veering from that strategy. I’m pretty confident I’ll retire a millionaire thanks to XRP. I’m not worrying about $1,000 profit here or there.
  2. As I have posted before, I believe that banks are going to have an incredible incentive to hold XRP on their books and continually bid up the price. Think of it this way... Banks need stability (or a rising price) when using XRP as a transfer of value across the globe. @JoelKatz and others have talked about this before. They also need XRP to reach a certain value (several times the current value) so that they can move large amounts of XRP at any given time without causing significant short term fluctuations in the price. So, once the use case price is reached, they are indifferent to a stable or rising price from that perspective of value transfer. However, if they can legally hold XRP on their books, then they will consider doing it if it will bring them a favorable return. Just as they hold other assets. And who is going to be able to control the price of XRP starting next year? It will be the big banks - not retail investors or speculators. They will have enormous incentives to constantly bid the price up over time. For the use case, they don't care if 1 XRP = $5 or =$150. But, if they are simultaneously holding XRP as an asset, they will go to market at higher and higher prices for moving funds in order to increase the return on what they keep on their books. Every bank holding XRP on their books will share this incentive creating on-going upward pressure. And, if they work together (implicitly rather than explicitly), XRP's annual return will beat all other market assets making it more attractive than bonds, real estate, stocks, or anything else. When a profit-seeking actor can both make a profit off a good and can cooperate with others to bid up the price of that good, it's pretty simple to imagine what they'll do. And as long as all banks agree that the price is "fair", the market can bear that appreciating price indefinitely even if it sounds absurd to others.
  3. I Don't Get It

    It’s going to take XRP actually being used for its intended purpose. The market reacted to news that included a likely future use of XRP by AMEX. But for the moment, it’s still the same mix of investors, day traders, and speculators that were here the day before.
  4. Brad sharing profit confidential article

    I wondered if he was being a bit cute about it. "I can't talk about price. I don't worry about price in the short term. But, oh, look, I linked to an article that says $2.00 next year."
  5. Santander, AMEX, Ripple

    It’s 11pm in Seoul. Will be interesting to see if Korean trading spikes now or when traders there wake up tomorrow.
  6. Santander, AMEX, Ripple

    Ripple tweeted it out. https://mobile.twitter.com/Ripple/status/931150009751429120
  7. Santander, AMEX, Ripple

    Will be interesting to see if speculation on this moves us up at all or if it will take actual use of XRP. Announcements about the future seem to be met with a general sigh by XRP traders. 😕
  8. I thought these two quotes from Garlinghouse were particularly promising in the short term: “I will say that I think the institutional money is just starting to come into digital assets. And that’s true for Bitcoin, Ethereum and XRP. But I think as that money comes into this…what I mean by institutional money…you know, pension funds, fiduciary managed money...I think that will create a lot demand for digital assets and if you have fixed supply as we do with XRP, and you have increasing demand…you don’t have to be an econ major to know what happens when you have increasing demand and fixed supply.” and “…between now and the end of the year, we continue to make new momentum, signing up new banks."
  9. I noticed. LOL. I’ll take a break and come back to checking your tweets in a couple days.
  10. @haydentiff is one of the best, IMO She is also on XRPChat: @TiffanyHayden
  11. Are the SEC, the CFTC, and Congress threats to XRP?

    Yes, I've seen the bill. With such a low threshold, it's clearly geared toward retail investors, but won't impact institutional trading. I expect we will see more and more crypto bills being introduced in the months to come. There will be lawmakers who will want to be seen as leaders in this space. I would expect potential hearings in the months to come, too.
  12. Are the SEC, the CFTC, and Congress threats to XRP?

    I think enhanced ICO scrutiny is coming. There is already plenty of noise in the system about them.
  13. Are the SEC, the CFTC, and Congress threats to XRP?

    I'm also curious to know, given that the IRS is taxing cryptos as capital gains, what that means for FIs who will be reaping millions of dollars of short term capital gains and losses as they trade XRP.
  14. I've been very impressed by Ripple's commitment to working with regulators. We know for example that they have: 1) recently hosted a central bank forum with over 2 dozen central banks, 2) met directly with the Chinese central bank, 3) participated in the Federal Reserve's Faster Payments Task Force, 4) performed a proof of concept with the Bank of England, and 5) have worked closely with other various Asian regulators. In addition, Ripple's Ryan Zagone sits on the FInTech Advisory Panel for the US State Banks Supervisors Board. It's quite the expansive outreach. In addition, we might assume that in the current regulatory environment in the U.S., there will be a cautious or, at least, light touch to regulating cryptocurrencies. In particular, the (likely) next Fed Chair, Jerome Powell, was active with the Faster Payments Task Force. And it's hard to see Jay Clayton at the SEC taking on an aggressive regulatory approach. But, still, it's important to take nothing for granted in politics. I am still somewhat worried about both the SEC and the CFTC. While there has been noise from these other regulators about cryptocurrencies, there hasn't been much concrete action...yet. This could change in 2018 as public attention grows. Some regulators have argued that, in certain instances, cryptos are securities. The CFTC has also argued that they can, in certain instances, be considered commodities. Some have said they can also be considered derivatives contracts. So what does all this mean for banks when they want to use XRP? Will they be expected to treat XRP as a security, a commodity, a currency, or some other sort of asset? What will this mean for their bookkeeping and compliance? Also, will XRP be treated differently from other cryptos because its use case is different than say Bitcoin or Ethereum? I fear there is a real chance that this regulatory uncertainty will stall US adoption in the year ahead. I don't think Ryan Zagone is on XRPChat, but perhaps @miguel or @JoelKatz can offer some insight here? I'd also add that I think its important for Ripple to have a strategy to educate federal lawmakers. In particular, the Republican and Democratic leadership of the House and Senate, the House Financial Services Committee members, the Senate Banking Committee members, and key staff in the White House. There is such a good story to tell on all sides of the political spectrum - for Republicans, it's the libertarian, anti-regulatory, technological entrepreneurial narrative and for Democrats it's things like cheaper remittances, an environmentally friendly crypto, and the partnership with the Gates Foundation. Something for everyone. Maybe Ripple is already doing this and just hasn't shared it with the community. But, as someone who has worked for a regulatory agency, as a congressional staff, and as a lobbyist, I feel strongly that this conversations are vital to Ripple's success and wanted to put this out into the public debate. As the old saying goes, if you're not at the table, then you're on the menu. Ripple has an awesome story. And, unlike other cryptos which are not created and distributed by a single entity, Ripple has the benefit of being able to have a unified corporate strategy to impact policy and ensure the success of XRP. I welcome others' thoughts on the risks around the SEC, the CFTC, and Congress. And I would especially love to hear from Ripple employees about how they intend to mitigate these potential risks in the months/years ahead.
  15. I share this because there has been a lot of talk about whether or not the escrow lock up has been priced in. But this article shows that there is a lot of hedge fund money pouring into Bitcoin that will likely also start pouring into XRP very soon (post lock up). And, as Bitcoin grows in value, the return grows relatively smaller for these funds. Going from BTC of $7500 to $15,000 (100% return) is probably a much bigger slog than XRP going from $0.20 to $2.00 (1,000% return). Hedge funds will seek the crypto assets likely to bring them the highest returns. Fasten your seatbelts. https://www.nytimes.com/2017/11/06/technology/bitcoin-hedge-funds.html?rref=collection%2Fsectioncollection%2Ftechnology&action=click&contentCollection=technology&region=stream&module=stream_unit&version=latest&contentPlacement=3&pgtype=sectionfront
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