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40 minutes ago, Julian_Williams said:

Your interesting title sums up the mood of the moment.

 

The irony is that the news of JP Morgan getting into the 'game' so-to-speak, even if it's not a cryptocurrency, seems to have made people wake up to the fact that crypto isn't going anywhere. 

We are just getting started!

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40 minutes ago, Hodor said:

The irony is that the news of JP Morgan getting into the 'game' so-to-speak, even if it's not a cryptocurrency, seems to have made people wake up to the fact that crypto isn't going anywhere. 

We are just getting started!

Great way of looking at it re JP

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1 hour ago, Hodor said:

The irony is that the news of JP Morgan getting into the 'game' so-to-speak, even if it's not a cryptocurrency, seems to have made people wake up to the fact that crypto isn't going anywhere. (away?)

We are just getting started!

I asume that is a mistype and you mean "away"?

I agree JPMorgan coin was good news.  The sceptics are admitting they have to get their act together because blockchain provides real opportunities to improve efficiencies on financial ledgers.  This change of attitude has come about because Ripple/XRP/R3 have demonstrated that blockchain is scalable, fast, cheap, secure and can be used in a regulated financial environment.  Without Ripple/XRP the banks would have been able to ignore the threat of Blockchain technology for another five years.

JP Morgan have confirmed to the financial markets that XRP is the No1 DA that will disrupt banking practices.  It will take a few weeks for this news to sink in and the impact to be felt.

Edited by Julian_Williams

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33 minutes ago, Julian_Williams said:

I asume that is a mistype and you mean "away"?

I meant it in a positive sense: i.e., we're not going anywhere means that 'we're not going away or being abandoned as an innovation.'  :D

35 minutes ago, Julian_Williams said:

JP Morgan have confirmed to the financial markets that XRP is the No1 DA that will disrupt banking practices.

Agreed.  Ripple - with XRP - is poised to disrupt the mega-correspondence-banks like JPM.  There is no reason for JPM to support Ripple in any way; their financial interests lie, unfortunately, with protecting an old mode of technology. 

The equivalent in 1999 would have been for the US postal service to start up their own AOL just as the AOL was being abandoned, IMO.  While it would have been good for the US Postal service to use email, in its pure, unfiltered form, it's a free disruption to a closed model, and hurts the interests of the US postal service.  We could never expect the US Postal service to be a fan of 'free email services' such as Yahoo and Hotmail. 

This is the same with no-counter-party digital assets vs. counter-party digital assets.  JP Morgan will never support no-counter-party digital assets, since they would disrupt the correspondence banking model of charging exorbitant fees for a multi-day turnaround. 

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20 minutes ago, Hodor said:

I meant it in a positive sense: i.e., we're not going anywhere means that 'we're not going away or being abandoned as an innovation.'  :D

Agreed.  Ripple - with XRP - is poised to disrupt the mega-correspondence-banks like JPM.  There is no reason for JPM to support Ripple in any way; their financial interests lie, unfortunately, with protecting an old mode of technology. 

The equivalent in 1999 would have been for the US postal service to start up their own AOL just as the AOL was being abandoned, IMO.  While it would have been good for the US Postal service to use email, in its pure, unfiltered form, it's a free disruption to a closed model, and hurts the interests of the US postal service.  We could never expect the US Postal service to be a fan of 'free email services' such as Yahoo and Hotmail. 

This is the same with no-counter-party digital assets vs. counter-party digital assets.  JP Morgan will never support no-counter-party digital assets, since they would disrupt the correspondence banking model of charging exorbitant fees for a multi-day turnaround. 

excellent analogies -so obviously true

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Thanks @Hodor for all the news from all across the globe on how numerous organizations are moving towards true global adoption of the Internet of Value.  It’s an amazing laundry list of victories that I would otherwise be oblivious to.

How you manage to routinely gather so much relevant news and make it understandable for novices like myself is the real mystery.  A fresh Hodor article is always perfect for maintaining sanity in world consistently awash in FUD. 

Edited by Roaring_Twenties
Specificity

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Always a good read!

I actually liked the last three paragraphs the most:

For thousands of years, the value of coins was closely related to the rare metals they contained, whether gold or silver.   Then, within one century, this shifted and governments worldwide decided to experiment with centralized control of monetary units that were tied to the economic fate of nation-states.  Due to this approach, a person's lifetime savings could be wiped out by fiscal miss-management of a country.

Crypto-assets change all that, and restore money to what it has been for thousands of years, only in a digital capacity.   Money is ours once again.  

XRP is a trust-less, no-counter-party digital asset that you can own, and nobody can take it away from you.   This is not true of physical assets, fiat money, or bank-issued debt.

 

Thank you for emphasizing that XRP is an asset which has value in itself - literally a store of value.  Often the utility aspect of XRP gets all the attention, when the "store of value" aspect has just as much importance IMO.  In addition to being a store of value because it is a "trust-less, no counter-party digital asset that you can own, and nobody can take away from you," XRP is also the best digital asset (for serving as a store of value and money) because it is limited in number, fungible, easily divisible, easily transferable and within seconds at virtually no cost, and not created or controlled by any government which could print more (like they all do with fiat).  No other digital asset can do it like XRP.   These traits, plus the negative traits of others like bitcoin (mining, scalability issues, environment, cost, transfer time, etc) coupled with the great utility aspect of serving as a bridge currency (elimination of nostro/vostro accounts, immediate settlement, etc), make me wonder: how in the world are we not at #1 yet?  

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