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Elyodtrebor

A far fetched idea ?

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Prob far fetched but just a thought:

- XRP’s aim is to act as a bridge currency or asset for international money transfers

- The benefit of this is that anyone anywhere in the world can convert their fiat currency into XRP or vice versa in seconds and very cheaply

- In the last few weeks alone, many big players have signed up to trials of XRapid and undoubtedly many more will do

- Pending success of these trials, mass adoption by FIs ensues. 

- XRP becomes the standard for digital transfer of cross border payments

Here comes the far fetched element:

- Now that familiarization with XRP has developed the bridge currency into a household name, people start thinking why are we carrying out double conversions when we can just hold XRP at either end

- XRP becomes the world currency (we live in a more and more globalized world) and XCurrent becomes the tool / mechanism to verify transactions

- Banks as we know them today develop into cryptographically encrypted wallet services which store people and businesses’ XRP and continue to provide lending services, albeit only in XRP

- Automation and the dawn of the machines replace most jobs freeing humans from work as we know it

- some centralized world order defines a human basic XRP allowance 

...just a thought...

read also below - interesting read not related to XRP necessarily but sort of linked to the above ?

https://www.theguardian.com/news/2018/jan/19/post-work-the-radical-idea-of-a-world-without-jobs

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XRP will not become the world reserve currency unless it was intended to become so in the first place. It's a scenario that crossed my mind that Ripple was founded intentionally to replace the dollar as reserve currency with backing from those who benefits most from the Dollar hegemony. Who knows. If this is true indeed, we would profit generously from this transfer of wealth, but who would control Ripple in the end and would other stakeholders like China and Russia be ok with that? Geopolitics is big and XRP would not just be allowed to replace the dollar if it wouldn't benefit those who are currently dependent on the wealth it is creating for them. 

/Tinfoil hat off

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Ironically, I think if XRP did become a world currency (which I am not claiming for clarity, just a bit of weekend day dreaming about the future of the world), people with XRP would not necessarily stand to profit unless the initial subsequent established value of goods in XRP would be beneficial to early adopters. I was discussing this with someone earlier today - profit gain from speculative interests has funnily enough rendered crypto currencies dependent on fiat currencies for their “value” as the value is relative to those fiat currencies. Take away fiat currencies and then the value of crypto currencies would only be relative to the goods or services they could purchase or relative to other crypto currencies providing a similar utility.

We have interesting times ahead of us (albeit a good bit away) when it comes to our concepts of what value is, our relationship to money, etc...

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If XRP were to become the world currency, I still think Hodlers would be massively rich. If you own more than 14 zerps (assuming it happens soon, so not many XRPs are burnt yet), you would already own more than the average person on earth. Even with my relatively small stack of Zerps, I would be much higher on the ladder than I am now.

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5 hours ago, Elyodtrebor said:

- XRP becomes the world currency (we live slave in a more and more globalized world) and XCurrent becomes the tool / mechanism to verify transactions

- Banks as we know them today develop into cryptographically encrypted wallet services which store steal and secure people and businesses’ XRP and continue to provide lending services, albeit only in XRP and only to those on the inside

- Automation and the dawn of the machines replace most jobs freeing humans from work life as we know it

- some centralized world order defines a human basic XRP allowance (no edit required)

See my corrections opinions above:  Retracted If your post lists your own personal ideals, then you should consider selling XRP and buying BTC - That coin is for the globalists, not XRP. It will be the BTC crowd that welcomes the new world order, right up to the point the new order crushes them. No crystal balls--- Just history books.

I agree with the point that if XRP replaces FIAT, the value is very subjective, and even 'baseless'

For Hodlrs to make money with XRP, it will have to be adopted by the banks, because it saves banks money. Hopefully it becomes the most valuable tool, inside the richest companies' tool box.

I have no problem with it also being used, in some countries, as a base currency. But I prefer it to be treated as an alternative, universally accepted currency; not a replacement for individual fiat.

Hard to picture life without cash- after all, fiat is the original crypto; Cash has the privacy, security and speed aspects (local speeds only), Yet fiat's only value requires pure belief (or trust).

Edited by Valhalla_Guy
So I sound less stupid

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It's an interesting thought experiment, but I believe interoperability is the strength of what Ripple offers. That's just like the magic of the internet; everybody can join in the fun if you follow these and these protocols. Your idea would be comparable to; 

-Internet is developped;

-Institutions start to connect to the internet;

-Familiarization with the internet becomes widespread;

-Now let's only talk in one language.

Globalization is real, but only up to a point. We will never see a world with only 1 culture, 1 language, 1 currency, and such.

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We're a few decades away from a stable ("store of value") native blockchain asset even being a possibility. Imagine taking a 25-year mortgage loan in crypto. BTC, XRP or anything else ... sheer madness. Next year it's 3 times as expensive... now what? you're out of a home to live in and the lender got fked over for not just HODLing the crypto.

Even if one of these assets miraculously stabilizes its price, people will still want to see a decade of two of stable value before they can even consider such a thing seriously.

Then there are all the fiat-currency-denominated financial instruments. Those ones are legally required to be denominated in the nation's currency. I'm REALLY skeptical that governments around the world will grant crypto-denominated bonds the same legal status and protections as fiat-denominated bonds, or allow things like equities to trade directly for cryptos. They simply have no interest to do that. Investors in those markets absolutely have to adhere to the legal framework. There isn't going to be back of the alley crypto to AMZN exchanges. 

 

Real Estate is an interesting use case, but I think most of those deals still involve loans, and I already covered the problem there.

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10 minutes ago, Valhalla_Guy said:

See my corrections above: If your post lists your own personal ideals, then you should consider selling XRP and buying BTC - That coin is for the globalists, not XRP. It will be the BTC crowd that welcomes the new world order, right up to the point the new order crushes them. No crystal balls--- Just history books.

 

Those are not my personal ideals just musings and meanderings re hypothetical scenarios. I found your perspective interesting, though the tone slightly condescending (which is rarely healthy for objective debate). I found one particular correction interesting and that was the correction of “work” to “life”. I hope for you that life surmounts to more than just work.

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51 minutes ago, Benchmark said:

It's an interesting thought experiment, but I believe interoperability is the strength of what Ripple offers. That's just like the magic of the internet; everybody can join in the fun if you follow these and these protocols. Your idea would be comparable to; 

-Internet is developped;

-Institutions start to connect to the internet;

-Familiarization with the internet becomes widespread;

-Now let's only talk in one language.

Globalization is real, but only up to a point. We will never see a world with only 1 culture, 1 language, 1 currency, and such.

Interesting point and parallel:

- pre internet: data is shared via post or fax 

- post internet: data is shared via Internet Protocol, converted into code and reconverted into the data in its original form in seconds

XRP is Java and ILP is the IP ?

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1 minute ago, Elyodtrebor said:

Those are not my personal ideals just musings and meanderings re hypothetical scenarios. I found your perspective interesting, though the tone slightly condescending (which is rarely healthy for objective debate). I found one particular correction interesting and that was the correction of “work” to “life”. I hope for you that life surmounts to more than just work.

Apology for the tone. I do not want to get too political- and I should have worded my first post better. This thread is an interesting post, and I am not wanting to drag it down.

My edit from work to life is my view that the march towards the 'Dawn of the machines' is NOT a result, from a desire, for all humans to live a utopian lifestyle. Trust me: Govts are not actually racing to build automated "smart" Butlers and pets. 

Yes there are commercial ventures and good intentions out there, but they are dwarfed by the real money being spent on eventual domination.

I hate seeing anybody (not directed towards yourself) following the false tune from any piper, regardless of how sweet the song.

 

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4 minutes ago, Elyodtrebor said:

Interesting point and parallel:

- pre internet: data is shared via post or fax 

- post internet: data is shared via Internet Protocol, converted into code and reconverted into the data in its original form in seconds

XRP is Java and ILP is the IP ?

That sounds like a good analogy. 

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1 hour ago, corak said:

Imagine taking a 25-year mortgage loan in crypto. BTC, XRP or anything else ... sheer madness. Next year it's 3 times as expensive... now what? you're out of a home to live in and the lender got fked over for not just HODLing the crypto.

Exactly; it would be much worse than the Swiss Franc fiasco.

https://www.bloomberg.com/news/articles/2017-06-02/woe-the-swiss-franc-mortgage-on-non-swiss-homes-quicktake-q-a

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23 minutes ago, Sebastian said:

It’s all sheer madness in the current market where cryptocurrencies are volatile relative to fiat currencies. Remove the relative comparative and the issue isn’t prevalent anymore.

Compare say using a courier to send a document in 1970 to sending a PDF via email in 2018. Using the courier had a cost   in country and a cost risk inter country due to currency exchange. Sending that same document nowadays costs little or nothing (as long as you discount life cycle costs associated with electricity and equipment needed such as phone or computer).

It’s difficult to currently envisage a stable crypto market that is not subject to huge volatility relative to fiat currencies but the market is in its infancy so maybe we should open our minds to the possibilities in a wider, longer term context. 

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