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  1. Two seperate articles that just came out seem to show some indications that Banks and Governments are starting to turn their views on cryptocurrencies. The first one is about the U.S. Government realizing that State-issued cryptos like the Venezuelan 'Petro' could easily defraud U.S. customers. That will probably be the case (and beyond) as it seems clear that the same way one cannot trust a Government that keeps on printing new fiat money irresponsibly with no gold backing it and causing rediculous inflation, cannot be trusted either for their new coins actually being (and staying) backed by oil. https://www.coindesk.com/senator-menendez-venezuela-petro-cryptocurrency/ The second one is about the Bank of America openly reporting that the inability of Banks to adapt could see a failure to compete with cryptocurrencies. Of course that has a multidimensional background, of which one is that Banks issueing their own cryptocurrencies is not a viable sollution as, besides 'backing' it by fiat which in the end is nowadays not actually backed by gold any more, each bank having their own coin would in reality be steps back in time in stead of progress. Also, States and Banks in fact already have their own electronic currency (the balance of bank accounts) which show their limitations that cannot be changed by adding some blockchains to them. https://cointelegraph.com/news/bank-of-america-our-inability-to-adapt-could-see-a-failure-to-compete-with-crypto Luckily this multidimensional yet significant problem has a horizon, and will only take two steps. The first one is recognizing that cryptography in general is one of the few true guarantees that a coin or asset will have true scarcety, giving it value in stead of hollowness. The second one is recognizing that there is one company out there that has been persistantly reaching out to them. The one company that has been rowing against multiple heavy streams, of which one is that of various Governments and Banks degrading crypto soley as bubbles, and another one being a large crypto community out there degrading them for reaching out to the banks. Embrace the company that has reached out to you, and will keep on doing so.. Embrace their tech that is superior and offers functionality beyond all existing blockchains out there.. Embrace the token that will offer the speed, instant liquidity, siginificant cost reduction and the worldwide reach you need, and is made to serve all.. Embrace Ripple.. Embrace XRP. ( @Hodor and @TplusZero, maybe this can serve as inspiration for an open letter to Banks and Governments ? )
  2. https://www.washingtonpost.com/news/democracy-post/wp/2018/01/17/in-venezuela-money-has-stopped-working/?utm_term=.a708b4e333e6 I've mentioned historical examples before, but this is the latest. The suffering these people are going through is very real. This is also a great example as to why cryptos are a threat to governments like Venezuela's. Today, the people living there had to watch as their liquid assets, money, became worthless. When they tried to convert that money into hard assets, like food, they created hyperinflation so bad that almost nothing is left. In today's world corrupt governments can effectively steal massive wealth from their own populations by hyperinflation. They could also try to do so by force or taxation. If the people of Venezuela had been able to convert their money to something like XRP every time they got paid, then the hyperinflation by the government would have done nothing as the asset value of the crypto would have just risen with it. It'll get worse before it gets better, but eventually normalcy will come back in Venezuela. When it does, don't be surprised if the population there choses to hold their wealth in some form of crypto instead of the local currency. What would be amazing to find out is whether or not anyone there was able to transfer their wealth into crypto before the hyperinflation.
  3. An interesting piece by Ripple's own Ken Kurson with a few mentions of the same. http://observer.com/2017/06/illinois-is-venezuela-and-the-solution-is-cryptocurrency/
  4. Imagine, for a moment, it's autumn of 2018. You wake up, turn on your television, and see channel after channel showing shots of the New York Stock Exchange, with news anchors nervously discussing the morning's developments: the stock market is crashing. Panic is in the air. Everyone remembers the housing and banking crisis ten years before. Fear, Uncertainty, and Doubt are the order of the day. Will the contagion spread? The above scenario is obviously fictional--I'm certainly no Nostradamus. But it's not implausible. The global economy last tanked in 2008. Before that, 1999-2000. Before that, 1991-1992. In very rough terms, these have happened every 8-10 years in recent history. Could we make it another 3 or 4 years? Certainly. Past performance is no indicator, and all that. Nonetheless, at some point we will see another economic crash. This is not a matter of "if", but "when." That said, the last time the market crashed, Bitcoin wasn't even a thing. We have no real template for what the cryptocurrency market looks like in the middle of a crash. Will investors treat crypto as a safe-haven, as they do precious metals? Or will investors begin pulling their funds out of crypto as uncertainty rises and panic strikes the other markets? Will it be something in between, with a slump, but of lesser severity? Or something else entirely? I recently posed this question to a friend of mine who has been in Bitcoin and a few other coins since around 2013. While he agrees that there's no way to know for sure -- "even gold isn't acting like gold, lately" he noted -- he suggested looking at Venezuela and India for clues. "Crypto is gaining a foothold in those places," he observed, however "the main issue is the technological sophistication of the populace." A few anecdotes I've picked up over the past several months lend some credence to this theory; although, anecdotes should never substitute for hard data (which I'm lacking). South Korea might serve as a second -- albeit more controversial -- example. Another investor friend of mine pointed to the turmoil and uncertainty on the Korean Peninsula, from domestic political turmoil to the ever-looming threat across the DMZ to the north. In her view, these factors helped drive the strong demand for first Bitcoin and then XRP in recent weeks, as investors looked for safe-havens. Does this theory have legs? I don't have enough information to answer that question. I'd love to hear from some of our Korean members for further insights. A third friend talked about the role regulation has played in Japan in driving demand. It's been suggested that so-called "bitcoin laws" have helped boost investor confidence in crypto in Japan, and he speculated that we could see very different reactions in different countries, based on the regulatory climate. "In countries where there are strong protections in place," he said, "we might see investors treat it more as a safe-haven and a hedge against inflation. In countries without such laws, though, who knows? It's anyone's guess." Ultimately, I don't have an answer. This isn't going to be one of those sorts of posts. Instead, I'm posing the question, hoping we can all gain insights from the discussion. Thoughts?
  5. Venezuela is hitting very hard financial times, would be interesting to see ILP between dash, fiat IOUs, and cryptos... https://cointelegraph.com/news/crisis-torn-venezuelans-opt-for-dash-and-bitcoin
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