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I Hold Bitcoin, I Want It to Be Successful –Brad Garlinghouse


solodeji
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On 11/19/2020 at 5:35 PM, XRPage said:

Meanwhile he keeps repeating how bad bitcoin is for the environment. This guy really needs to get his shit together. 

Probably more of an ethical issue with no right or wrong answer but if Brad bought his BTC between 2011-2013 which is the most likely scenario (based on when he was exposed to the space and started at Ripple) than is simply holding it going against ones principles as an ESG driven investor? You could easily argue that selling now only fuels that fire.  Better to hold until there is less volume.  He’s always said he holds but never that he’s buying.  It’s certainly a fair assumption that when he purchased it that the massive centralization issues as well as environmental issues would not be such a factor.  
 

Finally, no one at Ripple comes out and says that XRP is a better investment than BTC, ETH or others they only point out facts which demonstrate certain advantages XRP has over others.  These are 2 of those advantages which are more and more apparent by the day.

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Call me paranoid if you must, but I don't see a currency controlled by the CCP and based upon an algorithm which is probably 70%+ reliant upon Chinese computers (which have the power to completely rewrite the BTC ledger) as a "store of value."  I suspect that there's a reason or two beyond mere domestic political suppression (and financial control) that they don't want their own populace buying it, but are rather laissez faire, as with so many other CCP exports, about letting other nations buy into it as a hedge.*  That's not to say they love their own people and are "looking out for them" - it's to say, uh, you ever see a crime movie where the bad guy trying to steal one million dollars by corrupting some insider with a measly $20k doesn't have any compunction about just killing their willing accomplice, after the fact, to not have to even spend that $20k?  That's why making deals with criminals is not good - they're criminals.  They'll short you and drop you.  Now, they won't do it to their own populace (ie, they "protect them from btc") because they don't want to deal with the hassle of the domestic blowback/bailout (it's expensive and a pain to stop the domestic trains full of angry peasants) when they drop it on their international enemies... (but, uh, if they can find a globalist cut-out to use, such that they can fleece some of their own populace - and avoid losing face/taking blame - they'll certainly give it a go... but without a foreign cut-out/fall-guy, it's a hard row to hoe for a domestic CEO... how's that Ant IPO?)  If China actually believed in BTC, long term, there'd probably be no such thing as a digital yuan track, would there?  Or, for that matter, any other CBDC...  so what's that tell you about international buy-in to BTC?  (It's rhetorical - I won't argue - good luck to you.)

The game of musical chairs is built directly into btc... if you know what I mean, you'll know what that means.  Good luck.

* Remarkably clever to both hollow out foreign competitors and offer them a clever hedge against being hollowed out...  Almost like it's a mafia racket...  ("a win/win with Chinese characteristics")

huh... maybe i'm just old and am losing my touch... but i don't think so...  20 or 30 years ago, there was no higher pressure moment than meeting some oxbridge educated hong konger who worked for god only knows who - dressed in a savile row suit - and with diction better than the Queen's.  Today - nobody bothers to investigate counterparty risks, it seems...  They've learned a lot about marketing...  That suit is a party member, now - and meeting him over a conference table is a ridiculously archaic notion... he's got people to do that, now - they're non-threatening - probably are citizens of same country as where they're trying to make inroads - probably get paid about $20k a month :) - and an old school face to face meeting, or even a new-school zoom, probably isn't even necessary...  "there's an app for that, now," all the kids tell me, as they roll their eyes derisively...  "yeah, that's exactly the thing to worry about," i tell all the kids - hoping they'll listen, but knowing some won't.

(Gary Gensler is still a dipshit - and if he gets anywhere near policy, he's a natsec threat.)

Edited by NightJanitor
nothing i haven't said before, but now more relevant
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Brad discovers that retardation didn't go away, but that we were all just shamed into not calling it out:

What's the politically correct / intersectional / bullshit term for "dumb as a ******* rock?" these days?

I wonder if Brad picked up that the kid really makes no distinction btwn US Rule of Law and the CCP?

A lot of the kids believe that shit - and then they get money, power, or a govt job - and implement it...

Dangerous.  So dangerous.

Full interview, full of other dangerously naive/stupid stuff: 

 

Edited by NightJanitor
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Things are about to heat up. Bidens security briefings will be filled with concerns like these:

https://www.washingtonexaminer.com/news/trump-spy-chief-seeks-sec-scrutiny-of-chinese-dominance-in-cryptocurrency

 

Quote

“There are serious national security concerns about China’s control over Bitcoin and Ether,” a senior intelligence official told the Washington Examiner, referring to the two of the most dominant cryptocurrencies. “The president’s recent executive order made abundantly clear the threat posed by securities investments that finance Communist Chinese military companies. Digital currency controlled by the CCP could certainly fall into that category, but the bottom line is that we cannot allow China to dominate the technologies and innovations that are going to decide who runs the world for decades to come — from artificial intelligence to digital currency, and everything in between.”

Ripple, one of the largest cryptocurrency companies in the U.S., directed the Washington Examiner to comments made by its general counsel, Stuart Alderoty, who warned about China’s influence.

“The data doesn't lie. Vast majority of BTC’s [Bitcoin's] network / infrastructure — chips, mining pools, software — are all located in China or created by Chinese companies. This is not decentralization. The CCP wields absolute control in China,” Alderoty said last week.

Alderoty wrote in August that “the Chinese government subsidizes the vast amounts of energy needed to fuel Bitcoin and Ether miners” and that “at least 65% of Bitcoin mining is concentrated in China." He added: “Is the U.S. really willing to allow China to win this new technological and economic Cold War and, with it, allow China to dictate important parts of a new global payment system?"

 

Edited by mandelbaum
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9 hours ago, NightJanitor said:

Brad discovers that retardation didn't go away, but that we were all just shamed into not calling it out:

What's the politically correct / intersectional / bullshit term for "dumb as a ******* rock?" these days?

I wonder if Brad picked up that the kid really makes no distinction btwn US Rule of Law and the CCP?

A lot of the kids believe that shit - and then they get money, power, or a govt job - and implement it...

Dangerous.  So dangerous.

Full interview, full of other dangerously naive/stupid stuff: 

 

That’s not Brad, that’s @LetHerRipwhen he was younger 😜

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