Jump to content

Gensler Calls XRP a "Bridge Currency" at Least 6 Times in Short Video. What gives?


Recommended Posts

  • Replies 29
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Thoughts?    And here is the entire video for context ...     

Yes Gensler gets it - that is for sure.  But he is not going to announce that mid court case.  For some time everything has been pointing towards an out of court settlement.

@aavkk & @lucky BTC was able to grow due to dumb money. Around the world, financial heads in every sector are now fully well aware of the many limitations of Bitcoin. Though Bitcoin may have not r

2 hours ago, Seoulite said:

No way, from what I know about BTC mining you need a serious investment of equipment to have any chance of getting the block rewards. If you want rewards then I guess buying a gala node or some other new DeFi project node would be a much better bet.

Point still stands, if you have the readies around to make such an investment then I don’t see why it wouldn’t give it a go, unless the process is actually tedious and not so “passive” as I envision it. If it wasn’t profitable to do so, people wouldn’t be mining it in the first place. 

Link to post
Share on other sites
1 hour ago, Seoulite said:

@lucky

 thanks for explaining it. This gives me another reason to be fairly sure that btc is not going to a million dollars, or even close to it.

I wouldn’t be so sure of that. Massive price swings can happen in low volume. Time will tell, we just have to be patient, wait, and see what the top is in our lifetime. 

Link to post
Share on other sites
3 hours ago, Seoulite said:

@lucky

 thanks for explaining it. This gives me another reason to be fairly sure that btc is not going to a million dollars, or even close to it.

Jesse Powel, CEO of Kraken, seems to have said recently that the price of Bitcoin is going to infinite. I'm pretty sure he understands that for this to happen, infinite energy resources must be available too. I agree with that, in fact, I am starting to believe the energy scarcety is entirely artificial, and also think the climate crisis is a fake problem (similar to the fake pandemic).

But there are two problems with that:

1. This does not align with the scarce energy & climate crisis narrative which is being sold to us, and for which we are being asked to make huge sacrifices.

2. If some entity has access to unlimited energy, that also means the security of bitcoin mining is compromised, and the chain can be rolled back to any point in time. Which makes all the mining hocus pocus to solve the double spend problem useless.

I believe bitcoin mining was useful to kick in the door of non-state issued crypto currencies, by enabling electricity as a method of payment for distribution. Ripple's consensus is the logical next step. Those that rule us, have absolutely no problem with the fact that the public does not yet see the value of this next generation technology, while the founder is still systematically releasing his stash.

Edited by Guest
Link to post
Share on other sites
54 minutes ago, lucky said:

Jesse Powel, CEO of Kraken, seems to have said recently that the price of Bitcoin is going to infinite. I'm pretty sure he understands that for this to happen, infinite energy resources must be available too.

Don't forget though you are talking about massive energy demands for very little in return. It's not good at sending value. It's no better a store of value than anything else. Why exactly are we devoting so much energy to it again? Because it was the first? What was the first internet start up called?

Edit: for example if you were thinking of asking for massive energy to power up quantum computers which would revolutionise our lives or something, then I could see the case for it. Massive energy to run a crappier version of other stuff that is readily available at a fraction the cost? Like spending 10k a month to run Windows 95 on a computer so you can use MS paint because you have some aversion to using an iPad pro.

Edited by Seoulite
Link to post
Share on other sites
1 hour ago, cmbartley said:

If the dollar goes to zero, the value of bitcoin will be infinite in dollar terms.

Exactly.  In fact, while the CPI figures are "right on track" for the Fed estimates I know a lot of very smart people that feel CPI isn't a very good representation of inflation for most people.  Many of those same people feel that at least some of the recent asset price appreciation is due to the underlying FIAT weakness.  The Fed would like us all to believe that inflation may be coming and we'll even gladly accept 2+% but we just aren't seeing that yet.  

Also, thanks @lucky for explaining the BTC incentive structure much more eloquently than I ever could.  I'm beginning to wonder how BTC would react should we actually pull off nuclear fusion.  Maybe in the next 7-8 years?

Link to post
Share on other sites
On 3/11/2021 at 9:55 AM, lucky said:

Jesse Powel, CEO of Kraken, seems to have said recently that the price of Bitcoin is going to infinite. I'm pretty sure he understands that for this to happen, infinite energy resources must be available too. I agree with that, in fact, I am starting to believe the energy scarcety is entirely artificial, and also think the climate crisis is a fake problem (similar to the fake pandemic).

But there are two problems with that:

1. This does not align with the scarce energy & climate crisis narrative which is being sold to us, and for which we are being asked to make huge sacrifices.

2. If some entity has access to unlimited energy, that also means the security of bitcoin mining is compromised, and the chain can be rolled back to any point in time. Which makes all the mining hocus pocus to solve the double spend problem useless.

I believe bitcoin mining was useful to kick in the door of non-state issued crypto currencies, by enabling electricity as a method of payment for distribution. Ripple's consensus is the logical next step. Those that rule us, have absolutely no problem with the fact that the public does not yet see the value of this next generation technology, while the founder is still systematically releasing his stash.

The fact that you deem the pandemic and Climate change as a narrative pushed on us by the “elite” makes me believe that you’re more of a conspiracy theorist than BearableGuy123 and all the riddler cronies from way back when 😟

Link to post
Share on other sites
On 3/11/2021 at 7:55 PM, lucky said:

This does not align with the scarce energy & climate crisis narrative which is being sold to us, and for which we are being asked to make huge sacrifices.

There is no scarcity of energy.  And if we were smarter instead of being in thrall to existing large powerful interests,  then we could build our economies on massive renewable resources while at the same time helping the climate crisis.  The reality of which is clearly demonstrated by the fact that commercial shipping is now using the Northwest passage...    which until 2009 was a fabled hope rather than a series of clear water passages.

A century of shipping would have used it if it was viable...  now they can,  through the wonder of reducing ice.  Visit any glacier anywhere on earth and look at historical photos.  Any climate change denier still extant is beyond hope of reason in my opinion.

Link to post
Share on other sites
11 minutes ago, SauronRings said:

The fact that you deem the pandemic and Climate change as a narrative pushed on us by the “elite” makes me believe that you’re more of a conspiracy theorist than BearableGuy123 and all the riddler cronies from way back when 😟

Whether they are true or false, they are narratives and they are pushed.

Link to post
Share on other sites
9 hours ago, SauronRings said:

you’re more of a conspiracy theorist than BearableGuy123

I don't follow the cartoon bear so I did not know it is a conspiracytheorist, but I certainly am, yes,

If by now you still don't see the pandemic was completely orchestrated, flu relabeled, you are either a brainwashed fool or a participant in this hoax. Those are the two options.

 

 

vote.jpg

Edited by Guest
Link to post
Share on other sites
On 3/11/2021 at 7:51 PM, aavkk said:

Exactly.  In fact, while the CPI figures are "right on track" for the Fed estimates I know a lot of very smart people that feel CPI isn't a very good representation of inflation for most people.  Many of those same people feel that at least some of the recent asset price appreciation is due to the underlying FIAT weakness.  The Fed would like us all to believe that inflation may be coming and we'll even gladly accept 2+% but we just aren't seeing that yet.  

Also, thanks @lucky for explaining the BTC incentive structure much more eloquently than I ever could.  I'm beginning to wonder how BTC would react should we actually pull off nuclear fusion.  Maybe in the next 7-8 years?

Healthcare and Education costs are not included in CPI, to name some..

Link to post
Share on other sites
3 hours ago, lucky said:

I don't follow the cartoon bear so I did not know it is a conspiracytheorist, but I certainly am, yes,

If by now you still don't see the pandemic was completely orchestrated, flu relabeled, you are either a brainwashed fool or a participant in this hoax. Those are the two options.

 

 

vote.jpg

Wow 🤣🤣🤣 so the bodies piling up in many many countries are all just because of the “flu”. Beyond words honestly that you believe that climate change and this pandemic are fake problems, there’s so much scientific evidence available like hmmmm I dunno Ice caps melting and also you know the death count from what you call a “flu” I highly doubt civilians in China risked torture and imprisonments for the sake of a flu. But i know conspiracy types no point arguing you’ve stated no factual reason for why they’re fake other than saying “if you still don’t see the pandemic was completely orchestrated” which is hilarious and a non argument. Best of luck living a life where you can’t even trust a government and the world wide governments in general, being in crypto for you is interesting normally the conspiracy types are off the grid for fear of being tracked and monitored. 

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.