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Interesting read; Federal Reserve looking at XRP


BostonXRP
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they aren't alone in that theory, there are quite a few people speculating the same thing when you consider the governmental involvement that seems to exist between Ripple and regulators. However, I honestly take anything that you find on a website called "crypto, coin, btc" etc with a grain of salt.

When you read it on bloomberg, forbes, WSJ, etc then get excited. 

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Certainly the sort of thing that's been speculated a lot in the Tinfoil Castle for quite a while.

Long way to go, but definitely seems like there's a lot going on behind the scenes which we don't know about yet. Chris Larsen's presence on the IMF advisory board always makes me wonder though... And the BIS, FED etc etc.

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1 hour ago, BostonXRP said:

“There is a reason why the United States has a structural trade deficit. That’s because the world wants to hold the dollar as a reserve currency,” said Minerd while speaking on a panel at the Milken Institute 2018 Global Conference in Los Angeles on April 30. “If we insist that we have no trade imbalance, what we’re saying is that we no longer want to be the reserve currency.”

https://qz.com/1266044/why-does-the-us-run-a-trade-deficit-to-maintain-the-dollars-privileged-position/

XRP helps Trump solve his trade deficit problem :D 

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7 minutes ago, DQA said:

“There is a reason why the United States has a structural trade deficit. That’s because the world wants to hold the dollar as a reserve currency,” said Minerd while speaking on a panel at the Milken Institute 2018 Global Conference in Los Angeles on April 30. “If we insist that we have no trade imbalance, what we’re saying is that we no longer want to be the reserve currency.”

https://qz.com/1266044/why-does-the-us-run-a-trade-deficit-to-maintain-the-dollars-privileged-position/

XRP helps Trump solve his trade deficit problem :D 

Not to sound like a broken record, but Trump's SIL Jared Kushner is friends with someone who sits on the board at Ripple. 

EDIT: I forgot to add the name, it's Ken Kurson. 

Edited by Guest
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 Please stop. Xrp is not replacing the dollar or becoming the world reserve currency. If the federal reserve was going to adopt XRP it would never place a ripple executive on its payments committee. That would be a massive conflict of interest that would never fly and  would quite possibly be illegal.  

Edited by ringer2
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1 hour ago, ringer2 said:

 Please stop. Xrp is not replacing the dollar or becoming the world reserve currency. If the federal reserve was going to adopt XRP it would never place a ripple executive on its payments committee. That would be a massive conflict of interest that would never fly and  would quite possibly be illegal.  

Ripple is not the same entity as XRP, but why wouldn't they hire people familiar with XRP if they were indeed considering using it? How is that illegal?

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Can we stop with the low quality posts of complaining about posts and also posting random crap to be "funny"? 

Someone posted an article. Those that want to discuss it are discussing it. 

Certainly everyone here is intelligent enough to realize that the dollar as a reserve currency is past it's prime unless drastic measures are taken. It's not that far of a leap to imagine XRP running as a reserve currency or assisting a reserve currency in transferring funds globally. 

The owner of Twitter and Steve Woz are saying they think BTC will be the one-world currency. 

These types of topics do actually get discussed. And if respectable people think a slow dinosaur like BTC will be the one world currency...I'm sure it's safe to also discuss XRP in some of these capacities. It's called forward thinking and imagination. 

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Sorry that I had to end this FOMO but no existing crypto can replace genuine "money" as there is no existing crypto framework that documents rights into someones wealth (= claims). Not to speak of collateralized and double collateralized claims. Cryptos are like commodities and therefore digital assets or only tokens and not claims.

So, the hard question is: what is the collateralization of XRP or any other crypto? Nothing but itself - and this is not sufficient in order to have a reliable currency for mid- to long-term contracts for both parties. The reliability of the collateralization is what features genuine "money" - and it is the reason that it is in circulation and used for such contracts (like wages, rents, etc.).

This is also the reason why cryptos are only used for (more or less) instant payments (and speculation, of course .. and used for technological improvement) - as the volatility risk is managable within this very short timeframe for both parties.

Furthermore, as successful cryptos have a maximum supply and the payed amount is not destroyed when fulfilling an obligation they are also not fitting the flexible real world economy with boom and busts (credit cycle). Instead, they are mostly inherently deflationary and will be hold (for speculation as the price rises)  instead of used to fulfil obligations (see also https://en.wikipedia.org/wiki/Gresham's_law).

Edited by tar
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12 minutes ago, tar said:

Sorry that I had to end this FOMO but no existing crypto can replace genuine "money" as there is no existing crypto framework that documents rights into someones wealth (= claims). Not to speak of collateralized and double collateralized claims. Cryptos are like commodities and therefore digital assets or only tokens and not claims.

So, the hard question is: what is the collateralization of XRP or any other crypto? Nothing but itself - and this is not sufficient in order to have a reliable currency for mid- to long-term contracts for both parties. The reliability of the collateralization is what features genuine "money" - and it is the reason that it is in circulation and used for such contracts (like wages, rents, etc.).

This is also the reason why cryptos are only used for (more or less) instant payments (and speculation, of course .. and used for technological improvement) - as the volatility risk is managable within this very short timeframe for both parties.

Furthermore, as successful cryptos have a maximum supply and the payed amount is not destroyed when fulfilling an obligation they are also not fitting the flexible real world economy with boom and busts (credit cycle). Instead, they are mostly inherently deflationary and will be hold (for speculation as the price rises)  instead of used to fulfil obligations (see also https://en.wikipedia.org/wiki/Gresham's_law).

Why? Money isn’t backed by gold anymore. One could argue since cryptos are a fixed supply they have far more value of something backed by nothing? As well as inflationary. Cryptos are backed by math. And xrp is Deflationary.. I’m shoveling my dying fiat to xrp by the wheelbarrow loads lmao

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Just now, XRPwinning said:

Why? Money isn’t backed by gold anymore. One could argue since cryptos are a fixed supply they have far more value of something backed by nothing? As well as inflationary. Cryptos are backed by math. And xrp is Deflationary.. I’m shoveling my dying fiat to xrp by the wheelbarrow loads lmao

Genuine "money" is backed by collateralization of totally different kinds of the whole market which is much better to have a reliable currency (which is barely volatile and secure, which means it is backed up by the wealth of its issuer: the collateral).

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14 minutes ago, tar said:

So, the hard question is: what is the collateralization of XRP or any other crypto? Nothing but itself - and this is not sufficient in order to have a reliable currency for mid- to long-term contracts for both parties. The reliability of the collateralization is what features genuine "money" - and it is the reason that it is in circulation and used for such contracts (like wages, rents, etc.).

Isn't collateral just protection against counterparty risk? Which is what XRPL removes.

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