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CBDC on a private ledger with ILP connect to XRPL


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Yea the longer this drags out the more apparent it becomes that the world can function well without XRP. It also appears that anyone involved with XRP in the retail space just gets handed a lawsuit. Looks like my post just tanked the price of XRP. Sorry about that guys.

Edited by Scout
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2 minutes ago, Montoya said:

the only benefit i see is that XRP has a known rate of inflation/deflation and is less vulnerable to political issues, whereas holding a nation's digital fiat may hold risks surrounding their monetary policy. But risks also exist for XRP as well.

It's entirely possible that tokens have done nothing more than funded the construction of the Internet of Value, while shielding the contractors from too much regulatory oversight. The oversight is coming, but much of the IoV has been built. It's possible we've all been taken for a ride, a ride so shady that I could only salute the operators. 

Also, I am very intrigued by so much of the language in Ripple's blog post about this. It is much of the same terminology used to describe what Quant Network is doing. I have genuine hope that these two companies are working together, but the breadcrumbs and clues and all that don't really interest me anymore. Surely this year and next will bring exciting developments. 

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7 minutes ago, Montoya said:

the only benefit i see is that XRP has a known rate of inflation/deflation and is less vulnerable to political issues, whereas holding a nation's digital fiat may hold risks surrounding their monetary policy. But risks also exist for XRP as well.

XRP doesnt have known inflation.. we do not know in advance how much will Jed or Ripple dump on the market... Deflation? non-existent 

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3 minutes ago, Kiwi said:

XRP doesnt have known inflation.. we do not know in advance how much will Jed or Ripple dump on the market... Deflation? non-existent 

True enough. The point was more to demonstrate the lack of a need for XRP. I see zero benefit it could bring to the scheme being discussed in this post. Perhaps I am missing something.

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1 hour ago, Montoya said:

Debt swaps are instantaneous. If on a shared distributed ledger aren't they effectively the same as settlement? Why do we need crypto at all in such a scenario?

Obviously not, it's completely different to have something in your hand, settled, free and clear versus an IOU that says you own it.

Might be a use case for holding debt, loans I suppose, but if you could settle instantaneously why wouldn't you? The reason lots of entities hold debt overnight/weekly/etc is cause it takes so long for money to move through all these legacy systems, bank to bank, etc

There's also some sort of credit line financial warfare aspect to holding debt between countries.  Only countries that play along with the FED get a direct swap line so, idk how that factors in to the new crypto paradigm.

~~~~~~~~~~

Some of the BTC sidechain solutions try to work around the fact that BTC just can't keep up with the amount of TPS, like racking up a side tally then coming back into the main chain at a rate the BTC network can handle; basically an IOU debt system in parallel with the main chain. 

If the tech exists to settle instantly though, why not?

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15 hours ago, PlanK said:

^

So Central Banks around the world won't be on the same ledger?

On Noes!!!  What will they do?

 

If only there were some kinda bridge asset that works between ledgers.

Does one exist?  Can anybody think of one?

 

IT'S XRP!!!!

 

XRP to the moon!  (and the moon is not $5.  Its $1,000 or $10,000 when all the CB's start using the ledger as a bridge currency)

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16 hours ago, jetbrzzz said:

CBDC 1 <------>XRPL <-- ----> CBDC2

All. The. Money.

Every nation's central bank is going to control their own Ripple tech private blockchain, issuing their CBDC flavor on that isolated private chain, (USDx, JPNx, UKx, CHx, et alt) running all their own nodes privately.

And then it's all going to flow through the XRPL.

FFS, Ripple is handing them(CBs) the tech in a box with a bow on it, of course it's all going to be compatible with the XRPL.

Hopefully the criminals in charge up 'till now won't be able to inflate whatever supply they create on their private blockchains, though don't hold your breath.

Also auditing their chains may/may not be an issue, just like no one was allowed to audit the FED until Trump.

 

jetbrzzz is spot on.  That is exactly what XRP was designed to do.  XRP get's it's value, or goes UP in value as it is used.  Think wheel that spins and gains value the more it is used as it spins faster.  In the world of currency that is called "velocity".  AND at this time Ripple has 40 or more central banks around the world that are partnered with them.  I don't believe that they have started to use XRP instead of SWIFT at this time, but the frame work is in place.  

The real kicker here is that the IMF who was responsible for the current US dollar system called the "bretton woods system" is promoting all central banks to adopt central bank digital currencies and they want to remove the Dollar as the worlds reserve currencey which would be a mess for all of the over printed currencies that the dollar "backs". 

And tied to what the IMF wants to do is what the World Economic Forum is doing.  The are using the "pandemic" as an excuse for a great RESET.  What do you think they are going to RESET?  The currencies of the world!!!  And guess what they list as a bridge currency to all central banks....... IT'S XRP!!!!!  They really do list XRP in their own document from the 2020 March WEF summit in Davos as a bridge currency.

ALL THE MONEY!

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9 hours ago, Montoya said:

I fail to see how this is necessarily a good thing for XRP. One of my concerns for a long time regarding XRP value has been precisely this scenario. While CBs could use XRP as a bridge currency it is not incumbent upon them to do so. ILP allows for instant pathfinding using debt swaps. This would in theory allow CDDCs IOUs to be constantly shifted around on ILP without really ever being settled in-kind. It can do this by finding pathways that foment settlement based upon outstanding trade balances. For example, say Vietnam has an outstanding debt to Australia. They could settle in some sort of bearer asset that has a liquid global market of speculators (crypto, gold, silver, cars, grain, etc)...in this case crypto has the clear advantage as it can be moved instantly and nearly cost free. They could also buy Australian dollars by selling their own currency, or do what most countries do and use their stash of US dollars. Both of these dictate needing to either settle in physical cash of have accounts on other centralized ledgers somewhere.

There is however another option. Let's say Vietnam owes Australia the equivalent of $40 million in value due to trade and associated capital imbalances. At the same time, Vietnam is owed $20 million in value from Germany and $100 million in value from the US . Meanwhile, Chile owes the US $80 million, and Australia owes Chile $40 million. The end result is that the settlement can occur purely through debt swaps. Of course, this is not possible with all situation, and perhaps not even with most. This is primarily how most settlement is currently done. Only instead of a distributed shared ledger, they are forced to go through centralized ledgers such as the US fed, or wall street banks.

The issue I see is that the debt swap solution can continue to work quite well without settlement, so long as people/govs continue to trust global reserve currencies. Each country can have an account on the shared ledger or each other's ledgers. Settlement occurs either through direct trade or through debt swaps via ILP. In what scenario would XRP be preferable to say a balance of digital US dollars directly on the fed's ledger? OR a balance on a shared ledger? Is it purely an issue of trust? If that is the case, would countries be any more apt to trust a company inside the US with a stash of billions of the currency that could inflate it to devastating effect overnight? I fail to see how other countries would want either? 

THIS IS WHAT MAKES XRP THE GOLDEN GOOSE.  IT IS THE BEST INVESTMENT IN THE HISTORY OF MANKIND!

What we are in right now is a WEALTH TRANSFER.  I see two investments that will be survive this wealth transfer.  XRP & physical SILVER

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38 minutes ago, Daniel8 said:

THIS IS WHAT MAKES XRP THE GOLDEN GOOSE.  IT IS THE BEST INVESTMENT IN THE HISTORY OF MANKIND!

What we are in right now is a WEALTH TRANSFER.  I see two investments that will be survive this wealth transfer.  XRP & physical SILVER

Seriously guys, I hope you guys put a disclaimer on statement that was made or at least an indication of fantasy discussion. There's many newbies here that might take this seriously and someday someone gonna get hurt bad..

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9 hours ago, TeeKay said:

Seriously guys, I hope you guys put a disclaimer on statement that was made or at least an indication of fantasy discussion. There's many newbies here that might take this seriously and someday someone gonna get hurt bad..

Okay.

What I said above is not financial advice.  Just saying, if XRP does indeed become the bridge currency to all the central banks in the world and is used to funnel ALL THE MONEY, then $0.45 isn't going to cover it.    Those 3 things are said by people at Ripple in slight comments if one is watching close enough.

I do think that parroting "not financial advice" all the time just because it's law is BS.  Who is going to make a decision because some dude on a forum or youtube said something pie in the sky like I'm saying.  If someone doesn't do their research it's their own problem.  

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41 minutes ago, Daniel8 said:

Okay.

What I said above is not financial advice.  Just saying, if XRP does indeed become the bridge currency to all the central banks in the world and is used to funnel ALL THE MONEY, then $0.45 isn't going to cover it.    Those 3 things are said by people at Ripple in slight comments if one is watching close enough.

I do think that parroting "not financial advice" all the time just because it's law is BS.  Who is going to make a decision because some dude on a forum or youtube said something pie in the sky like I'm saying.  If someone doesn't do their research it's their own problem.  

Yeah. Right.

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10 hours ago, TeeKay said:

Seriously guys, I hope you guys put a disclaimer on statement that was made or at least an indication of fantasy discussion. There's many newbies here that might take this seriously and someday someone gonna get hurt bad..

LOL -- really? Most posts on XRPChat are disproportionately negative about anything related to XRP. Pushing the SEC-narrative as there is nothing else left in the world than US and SEC.

fresh example of Schadenfreude

15 hours ago, Scout said:

Yea the longer this drags out the more apparent it becomes that the world can function well without XRP. It also appears that anyone involved with XRP in the retail space just gets handed a lawsuit. Looks like my post just tanked the price of XRP. Sorry about that guys.

 

The translation to this is easy af

"God I hate this coin. I wish XRP could be dead and gone already, so I don`t have to fear to miss out on it once it may could pump out of nothing - because I have already sold a huge chunk (or all) of my XRP. How dare you to pump randomly or on news that could somehow be positive for XRP. Because the SEC-case made it clear to me that its a scam. I decided for myself that XRP wont pump anytime soon without this case being settled or won by ripple, thats why I sold. Everyone told me its not going to take part on this bullrun. How dare you, you little damn shitcoin, to pump out of nothing.

Get already to 0 - then I dont have to worry about you anymore"

 

Well its hard to be in a coin that doesnt move while others doing x10 or more, BUT it is much much harder to see the coin you followed and researched on for many years pump violently after you sold because of SEC or other reasons. A lot people would love to see it die away completely, because they then dont have to bother about it anymore.

LOL

Edited by VanHasen
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