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  1. Pat Thelen is VP of Strategic Accounts at Ripple. His job is to work with CLIENT (customer) engagement and satisfaction to ensure smooth interface with their services. If there is a question or a problem, they call Pat. Pat gets sh!t done. Pat is also one of only 3 at-large members. Seems like he's pretty important.
  2. Look at the technology providers. At the very least, Ripple is involved.
  3. I'm going to try to keep this as simple as I can. Libra is a stable coins tied to multiple currencies. That doesn't work. I'll explain below. But first, we have to understand that stablecoins, by definition, don't increase in value, which limit incentive/reward to buy, hold or use. In a simple example of stable coins with just one peg, when the supply is insufficient for a purchase, simply more stable coins are printed, price doesn't change. The amount of money taken in is held in reserve until cash out. This creates a risk that the entity holding the reserves is honest, doesn't take a commission, and invests or stores the reserve safely. Someone has to hold the reserve and perform work to keep a ledger and process transactions. This isn't free, so the management costs will constantly have to be paid by someone, will have to be taken from the reserve holding, a fee has to be charged,.or the reserves invested for growth. (See risk above). Simply, someone has to pay. On top of all this, the underlying peg currency has to remain stable itself (not going to happen). If all people want to cash out of a stable coin, someone is going to lose. Now, let's complicate the stable coin by tying it to multiple pegs. In this case, let's say we're tying the stable coin to the value of USD, EURO, JPY, YUAN. Now we have to decide how the value of the coin will be derived. Example 1: Let's give each currency 25% of the weight of the value of the stable coin. In ANY scenario, of multiple pegs, one will perform worse than the others. The people who would MOST benefit from a stable coins would be those that denominate in the worst performing peg. The people would would LEAST benefit are those that denominate in the best performing peg. Thus, people from the WORST pegs will put in the most, to the reserves. Over time, the reserves (money that was taken in) will be disproportionately from the lowest performing peg, causing a gap in the reserves held and the stable coin market cap. Because the value of the stable coin is determined by a equal average of the pegs, Not everyone will be able to cash out. And this doesn't even take into account the costs associated with the maintenance of the coin or the transaction processing or the risks of an entity holding/investing the reserves. Example 2: The stable coin value could be derived from the value of the assets held in reserve. This would allow the reserves to meet the market cap value (everyone could cash out) despite the imbalance in peg performance over time. Needless to say, the costs associated with the operations, combined with the imbalance in peg performance would lead to a guaranteed loss of value over time by all stable coin holders. What would be the point? Just to send money to your Facebook friends? On the other hand - When the supply isn't available for an XRP purchase, the price has to go up to exactly the amount needed to entice holders to sell enough to meet the demand. Same with selling. It's an open market with price based on supply and demand. Almost no cost and no reserves that need to be managed. No central party needed to hold reserves. The value is in the utility, potentially increasing over time as new use cases are created. This could be a good place to hold your money to maintain or grow value; however, not without risk. Stable coins guarantee loss. All risk, no reward. The only people who make money here are those who control and/or manage the system. Clearly this is why Facebook wants to creat a centralized copy of XRP for their own gain, when a decentralized version already exists. If Facebook really wants to improve the world, why do they need to reinvent the wheel into a system that benefits themselves? Why not just build on what's already out there? Open market coins, such as XRP have risk of loss, but also come with potential reward. Choosing the right open market coins to invest in- those that can demonstate utility, can will lead to value growth to the asset holder - rather than the giving the value gains to the system or people who control the system. I realize this is simplistic and there is a lot more involved, but this post is long enough already.
  4. Dave sold some of his XRP stash for over $10 MIL. If I had 10 MIL dollars in XRP, I would sell right now and be done, regardless of what I think XRP is likely to do in the future. That's life changing money. Why risk it for a chance at more? I don't need more, no matter how confident I am that XRP will go higher. Because no matter how confident I am, I could be always be wrong. Now lets take it a step further. What if I had 20 mil dollars of XRP? Of course I would sell at least 10MIL. Then maybe keep the other 10 MIL in XRP? Best of both worlds. I'm set, PLUS have investment for even more money. Let's go further. What if I had 30 MIL dollars of XRP? First, that would never happen, because I would have sold a bunch of it at 10 or 20 mil.. but lets just say I did. I would sell. Now, Let's take David's example. The guy had 16 MILLION XRP for a USD value of about 50 MILLION USD when he sold SOME of his XRP. (10 MIL USD worth.) Why are we talking about this, again? Remember, Dave sold XRP from ONE of his long standing XRP accounts. The account had been established well enough in advance to be able to count as capital gains and a MUCH lower tax rate. How do we know that he didn't BUY BACK the same amount he sold when the price dropped back to 30 cents? HE likely WOULD NOT have placed it back into the same wallet and muddied what was newly acquired XRP with long holding XRP.. especially when he knew he was going to need to sell a little more to pay the tax man the following year (he sold another $1M USD worth of XRP on April 14th this year). He likely would have put his newly purchased XRP into a different wallet that you all aren't tracking and being a new holding period of that money so that it, too, could have been easily identifiable as capital gains in the future. The point is, Dave is human. He has a family. He has grandkids. He had many millions of dollars in XRP. He sold some now, and is set for life no matter what else happens with XRP. However, if XRP goes moon, he still has more XRP than probably anyone else in this forum. So he's set. He derisked, got many millions. Is still stocked. One thing XRP can't buy you is TIME. He might as well start enjoying his money, because he can't buy more time later in life to enjoy it then. His comments on twitter are about the criticism he got for selling. He's trying to explain it, but he shouldn't have to. Him selling was not in any way related to his beliefs of what XRP might do in the future. It was about derisking and getting millions now for his family. People need to leave the guy alone.
  5. I'm sure many and more productive side conversations are held outside of the actual meeting. I don't think anyone is running out the door as soon as it ends... Except for maybe the guy who abruptly woke up at 7:17. He's probably going to back to his room and take a nap as soon as he can.
  6. Great idea. Just send me your bank account and pin and I'll direct deposit my check. 😄
  7. My thought was that it would be easier to keep track. Formula = current balance + total amount spent - USD equivalent into account from Direct deposit. That would be my capital gain. No actual crypro to crypto trading. Just money in, money out, plus current balance. Beautiful. Simple. Or jail if I'm wrong. Maybe I might want to pay a tax lawyer /accountant for the first year.
  8. Coinbase fees are too high. But if that's my only option, I'll be eating more Ramen.
  9. My thoughts are that by increasingly using XRP as a currency would help liquidity because i, presumably, would be buying and selling at market rate. The more I buy and sell, the more someone else can sell and buy. Sure, the volatility would be an issue, but I believe the long term value of XRP will increase. While some days/weeks I would lose, I would win a greater percentage of the time. I would use my disposable income at first. If XRP tanks, I stay at home and eat Ramen. If it goes up, I celebrate with an evening out for steak and lobster and I don't even eat lobster. Over time, I wouldn't spend all my disposable income so I will continually accumulate. In fact, I would be less likely to spend freely, knowing that I would be stashing away XRP if I went with generic products instead of name brand. Walmart Special sneakers instead of Nike. Oh yeah! New car? No thanks. The fees should be small enough switching between USD and XRP. (I'm not talking BTC, here). Plus, my thought would be that my debit card would be like Visa for normal payments, but also allow crypto payments of direct XRP to merchants who accept XRP. I would seek them out. I would expect to get a discount of a percent or two if paying to direct XRP merchants since they don't have to pay the ungodly Visa/MC fees. (Kroger/Amazon/Sunoco, anyone?) That discount would encourage me to frequent those establishments, which would likely increase the demand for people to accept XRP payment as an option. I also could tell all my friends at work how easy it is to invest in XRP. Simply set up an allotment for our paycheck (2 minutes of time online) and start accumulating XRP into an account that is denominated in XRP but also reports the ever changing USD equivalent through a simple phone app. Use your debit card for this account just like you would with you old USD account. Seek out the growing list of vendors who accept XRP and save a few cents per gallon on gas. Bam, now I have other people buying and (sorta) holding XRP, instead of just listening to me talk about it. Win win for everyone. Am I wrong? Could be.
  10. I signed up for notifications for when it becomes available. Thanks!
  11. As a side note, I wouldn't tell my wife it's an XRP account. I would just give her our 'new debit card' to use for purchases.
  12. I need someone to set up a USD to XRP account that I can have my paycheck (or a portion of it) direct deposited every payday. It would have to be sort of a traditional bank account that then converts to XRP for a minimal fee. I go to my employer and add the direct deposit to that account, and each payday, I automatically get credited with XRP. I then need a debit card from that account that would also work off a nominal fee to where I could spend my XRP into merchants or businesses that accept USD or XRP. The conversion from XRP to fiat would be seamless and cost me almost.nothig. If I had that, I would just begin having more and more of my paycheck being deposited ad XRP... at first just for my discretionary spending, and ultimately ramping up to where I would move to paying my utilities and other monthly bills from. Essentially, I would be moving away from USD and operating strictly from XRP. I wouldn't worry about spending my precious XRP, because it would be just like spending USD that I do now, for the same things. The difference is that I would hold XRP for a period of time before spending or saving it. If enough people began using this, it would provide tremendous liquidity, both in FIAt to XRP and XRP to fiat. Does this exist anywhere, and if not, who has the ability to create this? I'm guessing an actual banking license would be needed.
  13. Unfortunately, it's a necessary evil. It has to be distributed. I think everyone recognizes this. We are all early in this space. This is just something we have to go through. I think that as time goes by, the escrow releases and sales will represent a smaller and smaller percentage of circulating supply. Then when all 1B is being sold each month, that's when we will start to see significant price increase. My opinion. I have said for a long time that the price is held in check due to the distribution of XRP. If you remember, when we had the bull run in December 2017, it was right after Ripple locked up the escrow, and didn't have any they were willing or able to sell. You can go back and look at the XRPII sales during that time and is is in line with that. I posted the numbers a few months back. Remember: Price spiked between December 12, 2017 and Jan 3, 2018. (.25 to 3.80) The first escrow was unlocked Jan 1. The price started to decline 2 days later. Is this a coincidence? I don't think so. Do I think Ripple is doing anything wrong or illegal? Absolutely not. In the big picture, this all has to happen. It just is what it is. We have to be patient and wait. It's all part of the bigger plan. Over time, expect to make slow gains despite this. This is all my opinion and I could be wrong. But this is how I see it. 3-5 years.
  14. He could just tell the IRS to wait for their money? Maybe 9 months, maybe 2 years, maybe 5 years.
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