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  1. This is my first post on this forum, so I'd like to take this opportunity to express my gratitude to the members of this great community and my privilege to be part of the XRP army. At the outset, I generally do not condone baseless speculation. However, 1. I don't consider the facts below as "baseless", and 2. I'm merely raising a question to anyone in the forum with macroeconomic insight. With the advent of the Petro-Yuan futures a few days ago, the efforts and intentions by China are clear: to internationalize its currency and force its trading partners to accept Yuan for its oil purchases. What's more, since some of the oil exporting nations are hesitant to sell their product in Yuan, China is making gold convertible to Yuan as source liquidity for the oil purchase. Some economist say it is the beginning of the end of the petrodollar, others say the price of Gold will skyrocket. I'm not an economist so I wouldn't know, but the purchasing mechanics of this revelation in oil commerce sounded all too familiar to me when I first read about it; i.e. Fiat -> gold -> Fiat for oil. An increasing gold value will not only come naturally, but "a higher price/liquidity also means we can target higher value payments" - to use the words of the great @JoelKatz At the same time, we know that Ripple is progressively pursuing a position in China. From the latest @Hodor blog: "..understand that China just decided to opt for a licensing approach for fintech firms wishing to enter the payments space in China". A move that would legitimize/institutionalize the Chinese adopted fintech infrastructure of the future. Hodor continues: "I think this move by China’s regulatory bodies is a direct result of momentum that has clearly been building behind Ripple’s strategy of closely advising the worlds’ central banks", "[Ripple] has also hosted a delegation from China’s central bank" For those that don't know, China is the world's largest importer of oil with not nearly enough gold to back up their oil demand. To continue listing of relevant facts, Saudi Arabia (incidentally the world's largest exporter of oil) and its central bank, SAMA, have signed a deal with Ripple back in February to manage cross-boarder payments. The Arab Exchange Market Secretary General, Fadi Khalaf, said that United Arab Emirate banks are aiming for a similar agreement. (UAE is the 5th largest exporter of oil). Im not trying to prove what is probably a non-existent connection. My questions are the following: Are we witnessing a blockchain-backed, oil commerce infrastructure in the making? (Does that even make sense?) Knowing that China might soon no longer buy oil in any currency except its own, and for the oil exporting nations that will shy away from accepting Yuan as a payment, would China lose out or benefit from utilizing a digital asset to source liquidity for oil trade in lieu of gold? What role could XRP play and what impact would it have on the exporting States? China is responsible for 8 out of 45 millions barrels a day of global oil imports, with oil futures trade being 30x the physical oil trade. At 65$ a barrel, what would that daily volume do to the XRP price? Hope to get some insightful feedback and good discussion. In the meantime (3 days later) this: https://cryptodaily.co.uk/2018/04/ripple-partners-bpg-emetal-digital-stock-exchange-metal/ #justsaying
  2. Currently awaiting my resurrection, and wanted to contribute with my first post I recently came across a detailed and analysed article into the energy consumption requirements of Bitcoin (first part of the article, the seconds trails off into specifically bitcoin mining) https://oilprice.com/Energy/Crude-Oil/How-Many-Barrels-Of-Oil-Are-Needed-To-Mine-One-Bitcoin.html One table which stuck out was the below. From my understanding of XRP for power consumption it would be similar if we substituted visa for XRP Now a question - as bitcoin (appears) to factor in the cost of consumption of energy (and speculation), does XRP relative ease of creation limits its inherent value? I view bitcoin currently as a product - something which has been made at a cost of a commodity. Beyond the creation of Ripple as a company and associated running costs, XRP has no real production cost and theoretically another 100,000,000,000 could be created at marginal cost (correct me if I'm wrong). Maybe a better question would be beyond Fiat, does anyone have another of an example asset that is not backed by a commodity or has a very low cost to produce on a quite frankly infinite scale that is widely used, and importantly has grown sustainably?. At the moment my biggest concern with XRP (I currently HODL) is the sole driver of price appears to be only speculation. Maybe a bit of a convoluted post - forgive me, just be interested to hear thoughts
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