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xVia - does it use XRP?


xrp-pat
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4 minutes ago, kudlajz said:

I was saying from the beginning that 100 B coins is not going to be too many.. :dirol:

It's also important to have the 55 billion in escrow so XRP is somewhat protected from the eventual asset bubble.

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There isn't much Ripple can do about the first two.  The Crypto "currency" asset bubble is going to expand the way asset bubbles always have but I have a feeling the escrow was the  Ripple team forecasting the eventual bubble pop and escrowing a large amount to protect from number three on this list.

https://www.thebalance.com/asset-bubble-causes-examples-and-how-to-protect-yourself-3305908

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9 hours ago, xrp-pat said:

Does anyone know for sure? Wondering whether to get excited about xVia launch or not.

I don't think so. From what little I've heard It generally comes across as a more generalized form of Xcurrent for use in business-to-business transactions rather than bank to bank. 

Edited by enrique11
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2 hours ago, CaligulazBaby said:

I think one of the main Codius related smart contract uses will be for the completion of tax returns.  Like seriously who the heck enjoys doing a tax return?  Eventually you will probably be able to sync up your xVia account with a Codius smart contract which automatically fills out a tax return during the year and when the time comes to send it off to the IRS...."Codius can you do the thing please"...and Codius does the thing.

Goddamn finance is going to be lazy soon lol.

I would like to add how this relates to the velocity of money increasing in the same way snail mail ---> email.

I don't know how PAYE tax works in your country but over here there are multiple %'s of tax depending on your income so 10% up to £10,000 pa then 20% up to £20, 30 up to 30 etc (I don't know UK figures).

So one week you could earn the equivalent of 20,000 pro rata and pay more tax but over the whole year maybe you only earn 15,000 and will therefore be owed.  We all wait for the tax rebate and sometimes we have to apply ourselves and it can be back dated for years and it's all very slow and cumbersome with forms to fill out and blah blah.

So imagine your employer and the entire PAYE system is plugged into  xVia + Codius.  Every week your tax paid is re-calculated and you are paid what you earn plus or minus any tax owing or owed, resetting your account, your employer's accounts and the government accounts to zero every week without the paperwork and ridiculous labour time and yearly bullsh!t tax rebate forms to fill out.

So yeah instead of a perpetual, countrywide, bureaucratic, accumulating mess, ILP/Codius is able to just settle in real time.

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