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Mikhail_Liebenstein

Will XRP win by default?

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I’m sticking to my theory that the Crypto Market is splitting into 2 parts.

The regulated and approved part, which involves Banks, Regulators etc this is where my main assets are (95% XRP and 5% AML Bitcoin from the ICO).

And the under the radar privacy part....where people do what they will.

Anyway, having tucked away a few BTCP and previously having held XVG and BCN, i decided to also take a small punt on BTCI (Bitcoin Incognito - new ticker XBI). This was more in the way of a bit of technical fun  as I wanted to try out a POS Coin. I bought the 1500 coins needed to run a Masternode -?this was cheap as the price has tanked from $0.60 down to $0.14 so only cost $200 (versus $800 for some of the early players) and I am now running a $5 VM in a cloud service as my Masternode. I’ve also got a test node running in Hyper-V which I may use once i’ve earnt more coins.

Anyway the thought I was going to share is that the barriers to entry on new “BitCoins” are very low.  Many of the new coins are easier to use and superior to BTC from a technical and anonymity standpoint. If people adopt them as privacy solutions, I can’t see Bitcoin winning out in this space , as frankly Bitcoin is not anonymous in the slightest.

 

Given that we also know that BTC can’t comply with AML/KYC, I almost see it slipping down the crack in the middle. Certainly it percentage market share keeps falling.

Given that ETH is also technically overloaded and too slow - XRP will end up being the clear winner almost by default. 

That said, i’ll sudden rise to $15 per XRP any day!

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4 minutes ago, Zaki said:

I think maybe you misunderstand the value proposition of BTC. That BTC doesn't comply with AMC/KYC is a feature, not a bug.

Ah, I see. You're a Bitcoin anarchist. That explains it.

Silly rabbit, tricks are for kids. 

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2 minutes ago, Mr_Cambridge said:

Ah, I see. You're a Bitcoin anarchist. That explains it.

Silly rabbit, tricks are for kids. 

I think maybe you are too quick to dismiss my pov. After all, in you are interested about crypto, the promise is one of disruption, i.e. restructuring the financial systems.

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5 hours ago, Zaki said:

I think maybe you are too quick to dismiss my pov. After all, in you are interested about crypto, the promise is one of disruption, i.e. restructuring the financial systems.

I was joking ?.

I think Bitcoin is disruptive in very good ways. I still think it has ways to go before we can use it as a currency, if ever. Maybe it'll just be digital gold, but it runs a risk with that IMO. 

As far as KYC and such, I think we need to stand by the institutions that protect people against fraud, predators and money laundering etc.

We need some type of structure that is fair and protects people from harm. Right now BTC is a tool for whales and market manipulaters, and that is sad. That wasn't it's purpose to begin with. The poor and unbanked won't benefit from it like this.

Edited by Guest
Misspelling

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Anyway, let's stick to the thread topic ?

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1 minute ago, Mr_Cambridge said:

I was joking ?.

I think Bitcoin is disruptive in very good ways. I still think it has ways to go before we can use it as a currency, if ever. Maybe it'll just be digital gold, but it runs a risk with that IMO. 

As far as KYC and such, I think we need to stand by the institutions that protect people against fraud, predators and money laundering etc.

We need some type of structure that is fair and protects people from harm. Right now BTC is a tool for whales and market manipulaters, and that is said. That wasn't it's purpose to begin with. The poor and unbanked won't benefit from it like this.

The poor and unbanked can profit from Ripple & XRP.

When there are governments, regulations will be in place. I don't see that change EVER. 

We cannot live in an unregulated world. So cryptocurrencies that want to survive will need to be able to fulfill all required regulations.

I'm seeing a BIG future for Ripple & XRP on that part.

 

What if there's an issue with Bitcoin...who do you contact? The invisible Satoshi Nakamoto?

If there's a problem with the interledger....contact Ripple

 

Just my 2 cents

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Please enough wishful thinking. Ripple Labs and XCurrent will be wildly successful with our without XRP. We hope XRP will be the winner but nothing is guaranteed.

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2 hours ago, Zaki said:

I think maybe you misunderstand the value proposition of BTC. That BTC doesn't comply with AMC/KYC is a feature, not a bug.

That’s part of the trouble for those who wanted to hide transactions:

https://www.technologyreview.com/s/608763/criminals-thought-bitcoin-was-the-perfect-hiding-place-they-thought-wrong/

Basically the BTC Blockchain is a permanent record of evidence, and using Graph Databases and other analytic techniques incorporating exchange data , network provider records and cookies/search data it is pretty much possible to indentify anyone who has even transacted 1 Satoshi.

 

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2 hours ago, Zaki said:

That BTC doesn't comply with AMC/KYC is a feature, not a bug.

This "feature" will become a significant liability.  In my opinion, the recent actions by Poloniex (https://poloniex.com/press-releases/2018.05.27-Customer-Onboarding-and-Identity-Verification/) and the Japanese government (https://www.coindesk.com/japan-wake-call-get-ready-defend-privacy-coins/) are a small preview of what is to come.  These actions have been discussed and in many cases predicted by various members of XRP Chat.  The reason being is because many of us are realists.  Fiat is not going away anytime soon.  Banks are not going away anytime soon.  Governments are not going to allow anonymous, widespread financial transactions due to money laundering, tax evasion, and terrorist financing concerns.  Some (naively) believe decentralized exchanges are the solution.  I think governments will simply pass regulations prohibiting banks from allowing transfers to and from any exchange that does not follow AML/KYC regulations.  I do not necessarily think the governments should do all of this (that is a separate discussion), but I am enough of a realist to realize this is likely the end game.

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On 6/1/2018 at 2:31 PM, Mikhail_Liebenstein said:

 

And the under the radar privacy part....where people do what they will.

Anyway, having tucked away a few BTCP and previously having held XVG and BCN, i decided to also take a small punt on BTCI (Bitcoin Incognito - new ticker XBI). This was more in the way of a bit of technical fun  as I wanted to try out a POS Coin. I bought the 1500 coins needed to run a Masternode -?this was cheap as the price has tanked from $0.60 down to $0.14 so only cost $200 (versus $800 for some of the early players) and I am now running a $5 VM in a cloud service as my Masternode.

An update on $XBI - Bitcoin Incognito 

Whilst my initial $200 at one point turned into sub $40 with the price falling briefly to below $0.02 - I did buy more coins around the low and earn more coins through holding Masternodes.

I now have about 18,000 XBI and this is increasing daily. My cost average to date is around $0.025, which also includes the Masternode rewards and coins I’ve minted.

Anyway, XBI now has a new team, a new Dev, a WhitePaper, new accounts on Telegram and Discord, new marketing  and it looks like thing are going right. It is also getting a new wallet and forked Blockchain to fix some governance issue with the old team.

Checking the price this morning I woke up to this (see Image). No i’m not suddenly $6k richer as the low volume reflects the fork- but I do think this coin should be around the same price as BTCP eventually.

3D0B4980-E27A-4D76-8C82-08316A662FC9.png

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1 hour ago, Mikhail_Liebenstein said:

An update on $XBI - Bitcoin Incognito 

Whilst my initial $200 at one point turned into sub $40 with the price falling briefly to below $0.02 - I did buy more coins around the low and earn more coins through holding Masternodes.

I now have about 18,000 XBI and this is increasing daily. My cost average to date is around $0.025, which also includes the Masternode rewards and coins I’ve minted.

Anyway, XBI now has a new team, a new Dev, a WhitePaper, new accounts on Telegram and Discord, new marketing  and it looks like thing are going right. It is also getting a new wallet and forked Blockchain to fix some governance issue with the old team.

Checking the price this morning I woke up to this (see Image). No i’m not suddenly $6k richer as the low volume reflects the fork- but I do think this coin should be around the same price as BTCP eventually.

3D0B4980-E27A-4D76-8C82-08316A662FC9.png

Appreciate your insight. 

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On 7/1/2018 at 4:28 PM, Loki said:

Appreciate your insight. 

Random update on my XBI Project Investment.

The Coin has now recovered to $0.39 and I bought 30,000 Coins at the 2/2.5 Cent low. With the Staking and MN rewards  I am not sitting on 46,000 XBI.  I have traded a few out to buy XRP, but overall my original outlay of $420 is now worth about $16k.  Not bad going.

I am hanging in for now as the volume on XBI has increased from just $1000 per day to up to a $100k in the last week.  It probably has a good way to go and I suspect will replace the ill fated Bitcoin Private.

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