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Saudi Government is launching a cryptocurrency eerily similar to XRP


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Cryptos made by banks or countries are no threat to xrp, they're actually good. They can be exchanged to Xrp then to other fiat. There'll be one major bridge currency, I think xrp will be it if freaking Ripple gives up their giant 50 billion position.... Greedy chumps. The only reason why XRP has not been deemed a not security at this point is because Ripple holds a giant bag and using them for their own profits

You heard it here first, they'll eventually distribute it among banks, burn them or have IMF take over or something. 5-10 billion of xrp is well over enough for Ripple to hold 

Edited by AlibabaGrp
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7 hours ago, gamedev368 said:

https://ripple.com/insights/ripple-and-saudi-arabian-monetary-authority-offer-pilot-program-for-saudi-banks/

Honestly this just looks like what everyone else has done that has partnered with Ripple. Every time we hear a rumor or an actual confirmation of some big bank partnering with Ripple, we often later hear of them building their own crypto and/or blockchain solutions.

I think it's pretty obvious the plan at this point. Ripple comes in. Helps them migrate their local financial system to the blockchain. Then Ripple connects them to the rest of the world via XRP.

It's right there in front of everyone time and again for anyone to see. Ripple wants these places to have their blockchain and crypto solutions set up. Because from there it's simple "plug and play" via the ILP into the XRPL.

😩👌

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2 hours ago, AlibabaGrp said:

You heard it here first, they'll eventually distribute it among banks, burn them or have IMF take over or something. 5-10 billion of xrp is well over enough for Ripple to hold 

Could "or something" be Ripple continues to be sell them as they have been? 

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So now my understanding is :

ripple is working with banks to establish their own internal fiat-blockchain exchanges not to compete with Ripple but to plug into ripple .

If this is true , then in a few years time we may be using banks to buy and sell our xrp (world currency) instead of these crypto exchanges we're currently forced to use that keeps us tied to bitcoin. 

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4 hours ago, LordVetinari said:

Could "or something" be Ripple continues to be sell them as they have been? 

Let's see what q4 sales are gonna look like, if #s mainly USD sales are not higher than q3, how would you interpret that? I'd say interest in XRP isn't that much, interest was high when xrp was below 30c in q3. Means xrp might have to stay low til majority are sold which would meet Brad's saying that he won't expect price of XRP to go bananas til 3-5 years down the road

Edited by AlibabaGrp
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17 hours ago, Helmsdeep said:

The thing the Saudi govt has on their side is money , lots of money and everyone has their price to sabotage even ripple insiders. 

You know how they get politicians to conform ? They dredge up things from their past and hold it over them so imagine if they found details of something back in high school along with **** accusations for a certain ceo 

So naive to think ripple has already hit the home run and passed 3rd based already .

 

 

 

Oh for Fks sake..... I was giving you the benefit of the doubt but this comment confirms many others opinion of your posting agenda. You seem to have a never ending supply of speculation that for some reason you consider fact.  :unsure:

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29 minutes ago, Gilligan said:

Oh for Fks sake..... I was giving you the benefit of the doubt but this comment confirms many others opinion of your posting agenda. You seem to have a never ending supply of speculation that for some reason you consider fact.  :unsure:

Well nothing is set in stone yet is it , so what others are saying isnt fact either .....

he said she said no one at this stage is either right or wrong but we're headed for massive fallout shortly IMO .. fake volume convictions are just the beginning .imagine someone suggesting that was a fact when you were all fingering yourselves at ATH .  

Jesus would have had a better time being nailed to a cross .

Fact is , you're investment could go either way . Do you agree ?

Edited by Helmsdeep
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12 minutes ago, Helmsdeep said:

Well nothing is set in stone yet is it , so what others are saying isnt fact either .....

he said she said no one at this stage is either right or wrong but we're headed for massive fallout shortly IMO .. fake volume convictions are just the beginning .imagine someone suggesting that was a fact when you were all fingering yourselves at ATH .  

Jesus would have had a better time being nailed to a cross .

Fact is , you're investment could go either way . Do you agree ?

Yep I can agree with you on that.  It could go either way, that’s why I consider it an speculative investment.  I don’t have a problem with anyone saying that because as you say, that is a fact. It is the tone of your posts and your attitude that the assumptions you make are correct ones that bother me.  There definitely can and should be differing views and opinions but you  are way too aggressive I think (Although I was impressed that you were able to insert an IMO in the above statement.)  Try and do that more often and you may not get such negative reactions to your posts.  (I’m not gonna comment on the crassness of part of your statement above, but maybe you should rethink that kind of talk also... just my opinion B) lol)

I am only making these comments because there seems to be a lot of posters going on and on about how their opinions get shouted down if they speak against, or question the rosy future of XRP.  Maybe if they re-thought how they express themselves, it wouldn’t happen so much .......

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20 hours ago, Ylod said:

I think we are going to see many more "solutions" like this in the future. The big boys just don't seem to be buying into something they are not fully in control of, whatever that may mean. They may proclaim partnerships and whatnot, but in the end it is the actual usage that counts, and we are not seeing a lot of that yet. These alternatives may not be perfect, or everlasting, or even actually solving anything that they should, nevertheless it seems they are the preferred way for the big names and big money to get onto the blockchain train.

Whether Ripple and their solution will prevail in the end or become the bridge between these walled gardens or something else entirely comes along in the meantime is open to speculation. However, there are countless examples in history when the better solution wasn't the winner, as it never is just about the tech or cost. It is though always political, and it is always a play to gain or to maintain power. 

I'm not trying to spread gloom here, but I think it is good to remind ourselves sometimes that success of XRP is still far from guaranteed.

There doesn't need to be a "winner takes all" here.  Ripple are already providing solutions to their customers that are faster and cheaper than the solutions they (Ripple's customers) used before. 

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I think this will generate more FUD around XRP because UAE and Saudi Arabia are going to use THEIR digital currency for THEIR cross-border remittances. However, even if the trial succeeds the digital currency will probably be useless outside their financial zone.

"Dubbed 'Aber', the new unit of account will be used for financial settlements between the Kingdom and UAE through the use of digital ledger technologies."

https://www.finextra.com/newsarticle/33274/saudi-arabia-and-uae-explore-shared-digital-currency

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Quote

 “CBUAE and SAMA (Saudi Arabian Monetary Authority) have selected a tech company to support the implementation of this PoC, which is expected to be completed in the last quarter of 2019,” the central bank later clarified.

 

https://gulfbusiness.com/uae-saudi-reveal-details-common-digital-currency-aber/

https://www.spa.gov.sa/viewfullstory.php?lang=en&newsid=1879548

Must... find... tech.... company. 

Wouldn't it be possible they create trust lines to each member participating and create an "aber" token on the Ripple ledger for IOUs? 

Just a thought. 

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