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Good Sunday morning to you @Hodor

Hope all is well in the snowy Midwest. 

It’s amazing to me that the Model T of crypto and its negative effect on our environment continues to thrive but hopefully, our tipping point of change away from the wasteful proof of work concept arrives soon.   

With any luck, the moderator at the January 30th Paris Fintech Forum knows how to get a meaningful dialogue going between Brad Garlinghouse and Gottfried Leibbrandt.  It would be great if the former CEO of SWIFT acknowledges that Ripple’s technology and XRP are indeed successfully challenging traditional correspondence banking but we’ll see shortly how fruitful their exchange becomes. 

Thanks again for all you do and for the great Sunday morning read. 

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38 minutes ago, Roaring_Twenties said:

It would be great if the former CEO of SWIFT acknowledges that Ripple’s technology and XRP are indeed successfully challenging traditional correspondence banking but we’ll see shortly how fruitful their exchange becomes. 

Agreed.  Hopefully the dialogue is positive and rational; I'm not very hopeful about Gottfried Leibbrandt given his history, but anything could happen. 

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15 minutes ago, Julian_Williams said:

What interest do the BTC whales really have in the BTC ecosystem, other than keeping it afloat long enough to withdraw their earnings? 

I didn't even get into the financial incentives, @Julian_Williams!  Those are brilliant points for and against. 

You've just given me some new counter-arguments.  :JC_thinking:

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23 minutes ago, Hodor said:

I didn't even get into the financial incentives, @Julian_Williams!  Those are brilliant points for and against. 

You've just given me some new counter-arguments.  :JC_thinking:

I think one system naturally morphs towards a model where corruption becomes endemic.  We do not really know who these whales are.  XRP is going the way of KYC and know your users/investors and have them all regulated under the umbrella of democratic controlled institutions.  Yes bankers have more than their fair share of rogues and out of control psychopaths, but they are always playing cat and mouse with the regulators.  The BTC model is/was deliberately secretive and hidden from "the authorities", although recently they have seen this is eventually counter-productive and they have begun to understand that they have to work more with institutions.

Edited by Julian_Williams

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52 minutes ago, Julian_Williams said:

You missed a big one reason why PoW will be superseded by PoS and Consensus models.

I just wrote this on a thread that is running concurrently with yours.  I think it is an important point
 

Who funds BTC and what are their motives?  Is it the whales and is the biggest motive to increase price rather than provide services to the BTC ecosystem.  What interest do the BTC whales really have in the BTC ecosystem, other than keeping it afloat long enough to withdraw their earnings?  Ripple have a long term interest in XCurrent and the ILP and Ripplenet.

Did you write it today? I can't seem to find it. Would you mind reposting the thread address?

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Quote

Some investment funds are re-thinking their portfolios, as it becomes increasingly clear that Bitcoin's heyday is coming to an ignoble end.

I like that a lot @Hodor sir Likealot. And I guess 2019 will be another desert walk before DA´s and the understanding of DA´s and what they really can do finally get into the heads of the the s.c. Experts. The Talking Heads. In the meantime I put some Fiats into CSC :beach: My XRP is untouchable.

Edited by zenkert

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Zenkert just posted this link on another thread, but it so pertinent to this thread I am reposting it.

https://www.coindesk.com/bitcoin-will-still-bite-the-dust

Bitcoin will go to zero because it is old tech that cannot compete and because of the the power of miners it will morph into a corrupt monopoly.  We are all coming to same conclusion from different perspectives - must be something in the air?

Edited by Julian_Williams

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It's likely it will be left behind.  As time passes by you see a new PoW crypto higher in the market cap ranks being exploited, the latest one being Ethereum Classic, ranked 18.   With time we should see higher ranked PoW cryptos attacked.

It's because of PoW's insistence on the network being permissionless that you have to have all these miners constantly protecting the network by wasting gobs of electricity.  If a bad actor gains the upper hand they can try to double spend and cash in.

With Ripple's consensus, it seems like you don't get double spends or they are much more unlikely because the consensus process just comes to a halt once you don't sufficient agreement. What was it, 80% agreement? Maybe it is theoretically possible that the bad guys could all of a sudden gain 80% agreement all at once, but that seems very, very unlikely because there would be no smooth transition from over 80% agreement on the good nodes to all of a sudden the good nodes having less than 20% agreement and being considered 'bad' nodes by the consensus process.  I don't see how that would work out if I'm looking at the process correctly.

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11 minutes ago, enrique11 said:

It's likely it will be left behind.  As time passes by you see a new PoW crypto higher in the market cap ranks being exploited, the latest one being Ethereum Classic, ranked 18.   With time we should see higher ranked PoW cryptos attacked.

It's because of PoW's insistence on the network being permissionless that you have to have all these miners constantly protecting the network by wasting gobs of electricity.  If a bad actor gains the upper hand they can try to double spend and cash in. 

Should Bitcoin be exploited in the not so far future, let's say within two years, then it could have a devastating effect on the crypto space in general, including XRP. After a year or two, I expect that also the general public knows that XRP is really something different.

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12 minutes ago, Richretard said:

 After a year or two, I expect that also the general public knows that XRP is really something different.

If crypto lives another year or two... because what we have now - is not even a "bear market". It looks more like an agony of Mississippi bubble, and charts are pretty similar:Slide1.JPG

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2 hours ago, Richretard said:

Should Bitcoin be exploited in the not so far future, let's say within two years, then it could have a devastating effect on the crypto space in general, including XRP. After a year or two, I expect that also the general public knows that XRP is really something different.

That is one scenario, the other is that crypto money transfers from Pow investments to XRP ledger Consensus crypto and the new tech gets pushed up as the old tech gets pushed down.  It is not happening now because the bots are creating the overwhelming volume and are in control.  One or two panicky whales transferring from BTC and ETH into ADA and XRP could start mass hysterical chain reaction.

Edited by Julian_Williams

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1 minute ago, longhodler said:

If crypto lives another year or two... because what we have now - is not even a "bear market". It looks more like an agony of Mississippi bubble, and charts are pretty similar:Slide1.JPG

but will PoS tech survive and grow whilst PoW does the zero thing?  I think it will survive.

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