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Ripple XRP Will be Used as FX Means of Settlement Instead of US Dollar – Wall Street Forum

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Posted (edited)

XRP is the natural progression of money, banks are not going anywhere soon and neither is fiat but in the natural progression to get to a digital assets eventually replacing fiat the first step is to utilize said digital assets to weed out the inefficiencies of fiat. Expecting digital assets to all of a sudden replace fiat is like expecting the next moon landing without building on the first moon landing.  The instantaneous flow of money is the natural progression to get to digital assets replacing fiat, this is why I will never fully understand why we have this in fighting amongst the crypto verse.  XRP's adoption will only help the others and vice versa.  There are many issues to address and enough room for multiple digital assets to thrive. The task now is to weed through the garbage being that this universe is so young there is a lot of debris floating around in it now.

Edited by RikkiTikki

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4 minutes ago, Hodor said:

Wow that's an impressive quote, but I'm having trouble sourcing the video.  Does anybody have the link to the source video that the author is talking about?  I'd like to review it on my own as well. 

All three comments to the article online are asking for the same thing - the source for the article, but I don't see it. 

Good point. I will also do some digging.

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Posted (edited)
18 minutes ago, Hodor said:

Wow that's an impressive quote, but I'm having trouble sourcing the video.  Does anybody have the link to the source video that the author is talking about?  I'd like to review it on my own as well. 

All three comments to the article online are asking for the same thing - the source for the article, but I don't see it. 

Some links to this on this thread

@mandelbaum linked a video 

 

Edited by Trentsteel

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Posted (edited)
1 hour ago, Hodor said:

Wow that's an impressive quote, but I'm having trouble sourcing the video.  Does anybody have the link to the source video that the author is talking about?  I'd like to review it on my own as well. 

All three comments to the article online are asking for the same thing - the source for the article, but I don't see it. 

Source video:

"The forum concludes that settling payments using XRP has many advantages over the USD in terms of speed, price, and security. They believe that it will take about five more years to see XRP take that market away from the dollar for good.

Mind you, this is not a conclusion coming out of an XRP fan or bull (of which there are plenty) but from a group of Wall Street insiders which have not had the friendliest attitude towards cryptocurrencies in general over the last decade. So listening to them could be a particularly good idea."

Source: https://www.tronweekly.com/ripple-future-wall-street-forum-talks-about-xrp/

Edit: After I have fully listened to the video I personally do not endorse the full conclusion of the above source (link). But without a doubt a very interesting viewing with at the end clearly a believe that 'friendly (Ripple) and wel regulated crypto currencies will be used in a global function'.

Edited by cryptoxrp

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20 minutes ago, Hodor said:

Wow that's an impressive quote, but I'm having trouble sourcing the video.  Does anybody have the link to the source video that the author is talking about?  I'd like to review it on my own as well. 

All three comments to the article online are asking for the same thing - the source for the article, but I don't see it. 

To win this trade war with China, US has to decouple the Domestic US Dollar from the Trade US Dollar immediately. This was already explained extensively and identified as a potential issue back in 1960s , known as the Triffin Dilemma,  https://en.wikipedia.org/wiki/Triffin_dilemma However, back then worldwide trade was not as huge as now and therefore the problem is not magnified.

We are in cusp of another financial evolution. The only reason that this was not done till now was that there is no suitable candidate to replace the Dollar......until now. I do really suggest that you do some research in this area. Hopefull this will explains why US is in great debt (not that they want to), and reducing the debt without decoupling the Trade US Dollar from Domestic US Dollar will just crash US completely! Looking forward to your next article articulating this

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Fx liquidity pools are deep, established, and handle large lots in milliseconds or less both on retail and off.  Same goes for futures contracts. Maybe some truth to the statement on exotic currencies, but not on majors I suspect. 

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1 hour ago, JeffXRP said:

Fx liquidity pools are deep, established, and handle large lots in milliseconds or less both on retail and off.  Same goes for futures contracts. Maybe some truth to the statement on exotic currencies, but not on majors I suspect. 

Agreed but that's always been the focus for Ripple. Exotic corridors with low liquidity first, build up the ecosystem, implement across larger  liquidity pools like the USD or EUR.

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Posted (edited)
43 minutes ago, Chris_Reeves said:

Agreed but that's always been the focus for Ripple. Exotic corridors with low liquidity first, build up the ecosystem, implement across larger  liquidity pools like the USD or EUR.

Yep, but some should understand (not so much on this forum) that the ability of xrp to replace or even supplement the trillions in USD based transactions is just not realistic anytime soon.  However, the remainder is still a huge number, which is the primarily reason I’m optimistic on ripple software and xrp adoption. 

Edited by JeffXRP

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3 minutes ago, JeffXRP said:

Yep, but some should understand (not so much on this forum) that the ability of xrp to replace or even supplement the trillions in USD based transactions is just not realistic anytime soon.  However, the remainder is still a huge number, which is the primarily reason I’m optimistic on ripple software and xrp adoption. 

we're speaking the same language :) agree completely

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What Douglas Borthwick (headed Trading and Strategy businesses at Morgan Stanley, Merrill Lynch and Standard Chartered Bank) says at 18:57 is very interesting (https://youtu.be/2j747MrQN0U?t=1136). The US is fully aware of the things he describes and if it doesn't want to lose the trade war, I believe it can't afford not to use digital assets.   

Would have loved to be on that show too by the way. Either on her left or right side. :yes3:

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46 minutes ago, Danny said:

What Douglas Borthwick (headed Trading and Strategy businesses at Morgan Stanley, Merrill Lynch and Standard Chartered Bank) says at 18:57 is very interesting (https://youtu.be/2j747MrQN0U?t=1136). The US is fully aware of the things he describes and if it doesn't want to lose the trade war, I believe it can't afford not to use digital assets.   

Would have loved to be on that show too by the way. Either on her left or right side. :yes3:

Very true ... might also be the reason that the USA (Trump with trade war running out of options) is showing muscle in the middle east. Using digital assets (XRP) to 'unpeg' the US dollar as a global reserve currency would be very smart indeed. :)

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