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The impossibility of equality in an XRP settled world


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12 hours ago, Wandering_Dog said:

Perhaps, but the xrp still cannot be accessed and won't be redistributed. Liabilities off the books based on those xrp can still be created, hence the owner retains some degree of ownership and control, even if only to pass on to later generations.

I think you are living in a fantasy world where people are able to resist the force of state pressure.   The fact is that most criminal proceedings result in a plea deal.  Most folk cave in the face of prison.

But in any case...  who cares?  People have always had capacity to hide wealth.

This is nothing new and even if it was,  is not significant.   I feel that you’ve mistakenly thought you found some significant fact and then spun up a castle in the air from those musings.  It’s entirely pointless and makes no sense.

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XRP, as with any crypto, cannot be taken without the consent of its holder. Even under the extraordinary application of surveillance or torture, XRP can be withheld from both state and private entitie

(Hidden) Wealth ( cash/crypto/gold/daimonds) means nothing if one can’t convert it at any point into material goods or services.   Lambo anyone?   Being ( secretly) wealthy on paper, but liv

If the rich don't compete for resources or goods, then why are they a problem? Isn't it the goods and services that money can buy that's important? Not the money itself? If the rich simply sit on pile

4 hours ago, Chris_Reeves said:

What goods are people buying with any cryptocurrency right now? The answer is not much. 

Exactly!  Because they are way too volatile to function as a retail currency for exchange.  

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1 hour ago, ringer2 said:

Exactly!  Because they are way too volatile to function as a retail currency for exchange.  

Here's my full opinion on DAs used as currency. 

1. Stablecoins will be the main feature of currencies as we know them today

2. Utility/Exchange coins (like BNB, XRP, XLM and others) will not be used as a currency like point 1 because they have the ability to appreciate along with utilization.

3. At the end of the day, I expect ILP to facilitate the exchange of goods and services against the tokenization of assets (like real estate, stocks, exchange tokens). That's where they will be used like a "currency". I trade my 500 XRP for a piece of real estate, all of which is possible if assets are tokenized and exchanged through ILP or some other protocol.

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1 hour ago, corak said:

This thread reminded me of https://xkcd.com/538/

Yes exactly!   I have seen a nerdy anonymity coin exponent who lives with their mum tell me they can’t be traced or controlled and that the tax man can’t ‘see’ them.

The real world might be a nasty shock one day.

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On 10/8/2019 at 9:10 PM, Tinyaccount said:

Yes exactly!   I have seen a nerdy anonymity coin exponent who lives with their mum tell me they can’t be traced or controlled and that the tax man can’t ‘see’ them.

The real world might be a nasty shock one day.

A billion dollar family office is not your mate living with mum Tiny, lol.

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27 minutes ago, Wandering_Dog said:

A billion dollar family office is not your mate living with mum Tiny, lol.

Huh?   Wtf are you talking about?  I’m saying that comic nicely captures an important point that essentially negates your original musing.  Then you throw this nonsense in?  Wtf.

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"people can already hide things" is not a valid argument, because the state can create the settlement asset in one system but cannot in another. A state's inability to access 'hidden' money in a fiat sustem, whether a warehouse in Iraq filled with cash or a complex legal structure across multiple jurisdictions holding financial assets, is immaterial as it controls its own ledger on which the settlement asset resides--what matters in such a system are the real assets, ie productive capacity. In contrast, if the state needs to redistribute XRP in order to redistribute purchasing power, they are powerless to do so. 

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1 minute ago, Wandering_Dog said:

"people can already hide things" is not a valid argument, because the state can create the settlement asset in one system but cannot in another. A state's inability to access 'hidden' money in a fiat sustem, whether a warehouse in Iraq filled with cash or a complex legal structure across multiple jurisdictions holding financial assets, is immaterial as it controls its own ledger on which the settlement asset resides--what matters in such a system are the real assets, ie productive capacity. In contrast, if the state needs to redistribute XRP in order to redistribute purchasing power, they are powerless to do so. 

I think I should stop discussing this with you...   we are not ever on the same page. 
 

It seems to me that you are now arguing a different thing than you started with.  But that may just be my failure to understand.  I really don’t have an inclination to discuss meta topics in economics because I’m ignorant on the topic.  
 

I will simply state my belief that this new technology will not make equality more impossible than it’s always been,  (in fact the opposite is true in my opinion, ) and leave it at that.

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2 hours ago, Tinyaccount said:

I think I should stop discussing this with you...   we are not ever on the same page. 
 

It seems to me that you are now arguing a different thing than you started with.  But that may just be my failure to understand.  I really don’t have an inclination to discuss meta topics in economics because I’m ignorant on the topic.  
 

I will simply state my belief that this new technology will not make equality more impossible than it’s always been,  (in fact the opposite is true in my opinion, ) and leave it at that.

You are interested in something you don't understand... And you aren't interested in the work involved to understand it... But you expect the future to reach a future state based on faith... That's religion mate.

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5 hours ago, Wandering_Dog said:

But you expect the future to reach a future state based on faith...

No it’s based on experience...  but you can believe whatever you want.  I do have ‘faith’ that most doom and gloom prophets such as yourself turn out to be wrong.

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On 9/29/2019 at 7:06 PM, Wandering_Dog said:

XRP, as with any crypto, cannot be taken without the consent of its holder. Even under the extraordinary application of surveillance or torture, XRP can be withheld from both state and private entities. Subsequently, the enforcement of taxation, which forms the basis of monetary economies, and the enforcement of judgments obtained from courts of law, which forms the basis of contracts, undermines the possibility of using XRP or any currently existing crypto instruments as a means of settling exchange.

This is the start of your screed and it’s wrong on every level.  Every assumption it makes is wrong.  To believe it would require a faith that I do not have....  so no... I will not be joining your religion.  :) 

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