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11 hours ago, AlejoMoreno said:

I'm surprised that isn't obvious to most people. If Bitcoin get's mass adopted then it will be the same as fiat currency. Transactions will happen all the time, every second, but the Bitcoin is only setteled periodically.

We don't actually have to physically move all of that Bitcoin back and forth, we just keep a running tab and then "settle" the tab in one large transfer, once a day, once a month, or whatever period we choose.

Will it be good enough and profitable enough to be a good solution for a while? Probably so.

The real problem will be if/when X-coin becomes more widely used than gov't CBDCs. 

At what point do the CBDCs become so irrelevant, so second class to X-coin because Facebook and PayPal and Amazon come to process it more than USD/USDC/XYZ, that gov'ts actually start to shrink because no one is using their CBDCs?

Governments will never let this happen. Nobody wants your crypto, they want THEIR crypto.  You can't play in our walled garden unless you use OUR crypto.  Every nation is just a giant walled garden, monetarily speaking. You'll be forced to pay gov't taxes in your CBDC, same as it is now with paper fiat.

Same as when US citizens wanted physical gold more than dollars, the US gov't outlawed gold ownership cause no one wanted dollars. This time around, it'll just be that they won't accept X-coin for gov't payments, taxes, loans, whatever.

There's that US senator taking donations in BTC and ETH which is cute and all, but there's no way any gov't is going to wholesale accept X-coin for taxes etc (unless it somehow gains control over all the entities who majority hold it)

As doom-tastic as this all sounds, at least it makes the strong case for XRP to bridge all these walled gardens. If the IMF had their way, we'd all be living in IMF-landia. *shudder*

Edited by jetbrzzz
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I thought that by literally posting a picture that explains why that it would help ... guess not 

Sounds like a middle man skim operation to me.  Other than pumping the price of BTC cause now people are actually able to "buy" it, even though they don't really own it, I must be missing something.

It has to do with NYDFS XRP is approved for custody, but not litsing  

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11 hours ago, SquaryBone said:

Or they're just not going to buy any BTC, just split the diff and take the transaction fee or whatever?

PayPal could set up a line of credit with someone like Grayscale who holds all the BTC for them.  Basically it amounts to paper trading gold. PayPal will just credit the user's account with 'pseudo-BTC', and take the fees since PayPal doesn't even say you can own the actually BTC. Maybe it'll change to actual ownership in the future but idk, I wouldn't bet on it. PayPal already has a bank license(s) so I don't see why they couldn't hold the crypto themselves like a bank. Maybe they'd need a brokerage license on top to actually behave like an exchange.

Does Grayscale reallyyyy want to drain all its BTC holdings by just handing them out hand over fist to PayPal, Amazon users? Sure they'll get rich, but then Grayscale is holding billions/trillions in fiat dollars and 0 BTC.

I'm being slightly hyperbolic, but if USD hyper-inflation is really a thing, why would Grayscale want to be holding, as MicroStrategy CEO said, 'a melting ice-cube'?

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Theoretically gold contracts are supposed to actually deliver the product to the door step of the buyer.  In actuality, contracts get rolled over mostly, until everyone panics cause of crisis and actually want their gold in hand.  Then the physical shortages reveal themselves, etc etc.

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19 minutes ago, WarChest said:

Is the Paypal approach similar to Revolut?

Yes and Revolut use Paxos for Revolut U.S.

Revolut U.S do not offer XRP unlike Revolut U.K who do. That's why regulation matters to Ripple in the U.S ;) 

Be interesting to see if PayPal offer more cryptocurrencies in different jurisdictions.

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5 hours ago, tulo said:

It's a sad news, since 480M users via Paypal can now access easily crypto, but XRP. It could easily bring to a "robinhood effect", but XRP will mainly miss it.

Indeed. It shows there's still no regulatory clarity although many r-tubers have touted this to have been resolved.

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No big company such as PayPal, Microestrategy or Square are gonna touch a cryptocurrency for which 40-50% of total supply is under the control of a single entity. It would be a dangerous move. If Ripple really wants xrp to be adopted they first need to make sure xrp is decentralized enough. Burn it or die. 

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6 hours ago, XRPage said:

No big company such as PayPal, Microestrategy or Square are gonna touch a cryptocurrency for which 40-50% of total supply is under the control of a single entity. It would be a dangerous move. If Ripple really wants xrp to be adopted they first need to make sure xrp is decentralized enough. Burn it or die. 

Supposedly, Bitcoin, Ethereum, and Litecoin have similar centralization problems but the issue with Ripple is that Ripple is an easily visible (and sue-able) company that obviously has some conflicting interest with regards to the XRP market, RippleNet, and their control over the XRP network.

From an XRP enthusiast standpoint, it makes perfect sense why all of this is OK, but from a government standpoint a lot of people say it doesn’t fly.

Ripple keeps complaining about regulations, I think at some point they either need to change course to appease regulators or relocate their business and continue with their plan.

I feel like XRP has the potential to be one of those good plans that never got traction and will just be in history books as a perfect idea that just wasn’t able to be executed.

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17 hours ago, Flintstone said:

Yes and Revolut use Paxos for Revolut U.S.

Revolut U.S do not offer XRP unlike Revolut U.K who do. That's why regulation matters to Ripple in the U.S ;) 

Be interesting to see if PayPal offer more cryptocurrencies in different jurisdictions.

I am not a fan of the Revolut approach. It cost a penny or two for me to move all my XRP stash that was in Revolut to my personal wallet so that I could Qualify for Spark. 

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2 minutes ago, WarChest said:

I am not a fan of the Revolut approach. It cost a penny or two for me to move all my XRP stash that was in Revolut to my personal wallet so that I could Qualify for Spark. 

Yeah, I should probably do the same with what I have there, before the price goes up anymore.

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You need to frame XRP as a commodity (oil, wheat, copper, nat. gas, soy) for it to make any sense. Think semi-truck fleets that haul goods across countries. That's XRP.

PayPal CEO said himself that they could use XRP for millions of cross-border transactions (think eBayer in Japan selling into North America and settling back into Yen through XRP) if there was clarity to do so.

Obviously Moneygram already is using XRP, I don't think PayPal will be far behind honestly. They have a client base larger than the entire population United States. I don't know what percentage of their transactions actually require cross-border facility so that's something to figure out.  If it's 1%, well that's not great for XRP, if it's 50%, now there's a reason to use it.

There isn't any reason for PayPal to sell XRP to its customers; PayPal would be the one actually using XRP either directly themselves or through proxies like Grayscale/Kraken to settle dollars into XRP into yen, etc.

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There isn't any reason for PayPal to sell XRP to its customers; PayPal would be the one actually using XRP either directly themselves or through proxies like Grayscale/Kraken to settle dollars into XRP into yen, etc.

or buy Bitgo?

How will xrp fare out of this eventuality?

what if they exclude xrp from the platform?

bypassing Ripple?

just ?s 

 

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30 minutes ago, paym8 said:

or buy Bitgo?

what if they exclude xrp from the platform?

bypassing Ripple?

 

Yeah, BitGo as a proxy arm of PayPal is a possibility.  There's gonna be lots of M&A consolidation. Companies like PayPal aren't going to R&D this tech, just suck it up like Facebook did WhatsApp, Instagram, Oculus VR, etc etc.  Facebook didn't create any of those platforms, it probably couldn't have if it wanted.

There's a size threshold where you become too big to innovate and rarely does the public sector innovate better than the private sector.  SpaceX is the poster child for this; SpaceX has done what NASA couldn't in record time. Imagine if all the wasteful government money that went into NASA went into SpaceX first, we'd be on Mars by now. The same government who's military spends money on $600 golden hammers and wrenches to meet budget requirements, you know? Probably not true, but close. 

https://www.heritage.org/budget-and-spending/report/50-examples-government-waste#_edn23

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I don't know what you mean exclude XRP from the platform, PayPal excluding XRP or who? PayPal said they could use XRP if there was clarity.  Ripple is simply afraid of getting fined up the you-know-what, like Kik just did. SEC hit Kik for $5 million cause they made a Kin-coin or something, SEC called it a security and I don't think they went through the proper channels. I didn't look into the actual tech to see if it really is, but this is why all the fuss.

Obviously there's clarity on securities, hence Kik getting fined by the SEC. Ripple just wants the SEC to come out and say in bold print, "XRP is not a security held by Ripple and/or XRP is a digital bridge commodity." and for whatever reason the SEC hasn't, doesn't want to, doesn't care. Clearly XRP is not a security, Moneygram is using it already in corridors as a commodity, so your guess is good as mine.

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Who would be bypassing Ripple? Depends on the client; if a bank is using RippleNet software, then no obviously. If a company is using XRP itself in some other capacity, there's nothing that says they'd have to go straight through Ripple. Exchanges come to mind; they don't need to go directly through Ripple to buy and sell XRP.  Of course they can buy from Ripple if they want, but don't have to. If a new fintech startup wrote its own software to interact with directly with the XRPL without using RippleNet, that's perfectly valid too.

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