Jump to content

Elites Will Scam The Masses After XRP Hits The Stratosphere


HAL1000
 Share

Recommended Posts

I have listened to these videos, I haven't heard anything new or groundbreaking, to be honest, its just click bait and I think he's pretty full of shit, he says a lot without saying anything at all. Hes not a Corda developer, he develops apps on corda, there's a big difference, anyone can do this. Its very easy to get caught up in hype, if you are looking at who is winning the race for the most developers on its network its ETH hands down, im not an ETH fanboy at all, i hate it, do your own research folks, don't listen to these youtubers out to make money from adds/views.

Link to comment
Share on other sites

3 hours ago, Julian_Williams said:

He is saying the same as commentators like Crypto Eri have been saying; "building the railroads" and "flywheels" but coming out of his mouth it has an added authenticity because he is a young enthusiastic developer who is deep into crypto adoption

You remind me of back in the early 90's when I read about some company buying up all the digging/pipe-laying rights of the land immediately adjacent to many of the railroad tracks crossing our country. Their business model was to use special track-bound vehicles equipped for digging and pipe-laying, enabling them to build out the vast fiberoptic trunk lines we take for granted today. 

I actually speculated and bought some shares of that corp. I also became convinced of my convictions that the nascent Internet was not just a passing fad, as many of my contemporaries kept insisting. 

It's all so obvious today, the rise of the great network was NOT gonna fad away.

And someday too, the rise of digital money and blockchain instruments will have been all so obvious as well.

Link to comment
Share on other sites

27 minutes ago, WrathofKahneman said:

Wait..elites will scam us after XRP moons? -so these are the halcyon days? 

 

Do you think they can put trading of XRP into a box marked for banker only?  Is that really possible?  I think he was making a prediction that the regulations for buying XRP may become so onerous that it becomes too much work for your average investor, but even in those scenarios there would be options to buy through institutions (I would guess).

I think his point about the relationship between fiat currencies and digital currencies is a topic that needs to be thought through.  It is hardly ever raised.   The digital currencies might be very volatile due to FOMO bubbles whilst the fiat currencies are subjected to hyperinflation or deflation due to governments being irresponsible about money supply.

If the real value of an economy is in the tokens in the central workings of autonomic digital trading flywheels, then it sort of follows that the tokens become stores of value off which other economies (Quincy is suggesting including Fiat currencies) derive their value. This topic deserves more thought?

Edited by Julian_Williams
Link to comment
Share on other sites

1 hour ago, Julian_Williams said:

Do you think they can put trading of XRP into a box marked for banker only?  Is that really possible?  I think he was making a prediction that the regulations for buying XRP may become so onerous that it becomes too much work for your average investor, but even in those scenarios there would be options to buy through institutions (I would guess).

I think his point about the relationship between fiat currencies and digital currencies is a topic that needs to be thought through.  It is hardly ever raised.   The digital currencies might be very volatile due to FOMO bubbles whilst the fiat currencies are subjected to hyperinflation or deflation due to governments being irresponsible about money supply.

If the real value of an economy is in the tokens in the central workings of autonomic digital trading flywheels, then it sort of follows that the tokens become stores of value off which other economies (Quincy is suggesting including Fiat currencies) derive their value. This topic deserves more thought?

Well, first, I take issue with the idea people will be scammed "later" - too conspiratorial for me.  Look at the wealth gap in the world today, we have already always been scammed to be where we are now.

As for the vid, I think he's a little too sci-fi; possible but not likely, and the definition of "fiat" starts to get hazy. Fiat implies the government can value it however they like.  They confiscated gold in the US because USD was pegged to gold - it wasn't fiat.  Today as true fiat, it is pegged however the government wishes.  As long as USD is not pegged to XRP, they retain control.  Besides, USD is already digitized, and it is a store of value off which other currencies derive their value.  The government doesn't have to grab XRP, just require USD for taxes and tax it on the conversion and then they make $ off of the world's investment in it. I think the bigger issue governments are concerned about is monetary expansion.  

-but just a rank amateur opinion, he said he has an economics degree.  Certainly deserves more thought.  Econ seems like quantum physics.

Edited by WrathofKahneman
Link to comment
Share on other sites

7 hours ago, Begofend said:

I have listened to these videos, I haven't heard anything new or groundbreaking, to be honest, its just click bait and I think he's pretty full of shit, he says a lot without saying anything at all. Hes not a Corda developer, he develops apps on corda, there's a big difference, anyone can do this. Its very easy to get caught up in hype, if you are looking at who is winning the race for the most developers on its network its ETH hands down, im not an ETH fanboy at all, i hate it, do your own research folks, don't listen to these youtubers out to make money from adds/views.

Do you know how to develop apps on Corda?

Matt Hamilton, Director of Developer Relations @RippleXDev just asked Quincy if he wants to come on the RippleX Dev livestream sometime to talk about his Python blockchain framework.

Both have agreed to do it, looking forward to it. I love this community 😎

Edited by Danny
Link to comment
Share on other sites

2 hours ago, WrathofKahneman said:

Well, first, I take issue with the idea people will be scammed "later" - too conspiratorial for me.  Look at the wealth gap in the world today, we have already always been scammed to be where we are now.

As for the vid, I think he's a little too sci-fi; possible but not likely, and the definition of "fiat" starts to get hazy. Fiat implies the government can value it however they like.  They confiscated gold in the US because USD was pegged to gold - it wasn't fiat.  Today as true fiat, it is pegged however the government wishes.  As long as USD is not pegged to XRP, they retain control.  Besides, USD is already digitized, and it is a store of value off which other currencies derive their value.  The government doesn't have to grab XRP, just require USD for taxes and tax it on the conversion and then they make $ off of the world's investment in it. I think the bigger issue governments are concerned about is monetary expansion.  

-but just a rank amateur opinion, he said he has an economics degree.  Certainly deserves more thought.  Econ seems like quantum physics.

I do not think people will be scammed either, but something quite similar is on the cards in my opinion  My view is that being early in crypto will see those people become very rich, and the ones who don't become involved will be left out of perhaps the biggest get rich quick gold rush in history.  My generation bought houses in the 70s, 80s and 90s and saw property values escalate out of reach of ordinary people.  I imagine something similar, but even more divisive happening out of crypto.

The Russians have their oligarchs who bought out Russia and became overnight multi billionaires whilst the rest of the population saw little change in their lives.  I think in 25 years time there will be tens of thousands of super rich crypto whales who bought into crypto now, and their money will give them a lot of power, just like their are people now who bought properties in the 1970s now buying second homes in seaside villages in Cornwall, and pricing locals out of their own homes. 

Alessio in one of his videos mentioned how he met someone who has turned 10K in 40 million in crypto.  I guess there are already a lot of people like this in crypto and in ten years time those guys will be worth 50 or 100 billion.  Quincy seems to be imagining banks getting thilthy rich because of their position in the markets, and then leveraging their wealth into machines that squeeze the ones who are left out.   I think it is an interesting thought?

Edited by Julian_Williams
Link to comment
Share on other sites

14 hours ago, Julian_Williams said:

  People will be kept out of XRP by regulations.

 

This is the problem. We are seeing this now. Public Exchanges that offer XRP are shutting down public access to this token. Public exchanges that don’t follow regulation get banned from Canada, Europe & the US. What good is holding XRP if you can’t benefit by trading it or cashing out because of regulation. All XRP holders will be screwed.

Link to comment
Share on other sites

1 hour ago, Julian_Williams said:

I do not think people will be scammed either, but something quite similar is on the cards in my opinion  My view is that being early in crypto will see those people become very rich, and the ones who don't become involved will be left out of perhaps the biggest get rich quick gold rush in history.  My generation bought houses in the 70s, 80s and 90s and saw property values escalate out of reach of ordinary people.  I imagine something similar, but even more divisive happening out of crypto.

The Russians have their oligarchs who bought out Russia and became overnight multi billionaires whilst the rest of the population saw little change in their lives.  I think in 25 years time there will be tens of thousands of super rich crypto whales who bought into crypto now, and their money will give them a lot of power, just like their are people now who bought properties in the 1970s now buying second homes in seaside villages in Cornwall, and pricing locals out of their own homes. 

Alessio in one of his videos mentioned how he met someone who has turned 10K in 40 million in crypto.  I guess there are already a lot of people like this in crypto and in ten years time those guys will be worth 50 or 100 billion.  Quincy seems to be imagining banks getting thilthy rich because of their position in the markets, and then leveraging their wealth into machines that squeeze the ones who are left out.   I think it is an interesting thought?

Completely  agree that people will be left out of wealth generating opportunities. I don't even think we have to imagine that for XRP - it is the case already. (esp. in Real Estate!) And because it's happening now, I see no need for the government to seize XRP for the banks to continue extracting these profits from people.  

Without eliding the difference between governments and banks, we have proof already confiscation/blocking of XRP isnt necessary. That's the statement from the video I differ with.

Banks have lots of ways to retake value tied up in XRP - want a car loan? home loan?  What if they run their own arbitrage bots to float the price higher?  We know big banks are capable of manipulating FX and stock prices.  XRP is not immune, especially if banks start using the DEX. 

 

Edited by WrathofKahneman
brevity, believe it or not :)
Link to comment
Share on other sites

59 minutes ago, Scout said:

This is the problem. We are seeing this now. Public Exchanges that offer XRP are shutting down public access to this token. Public exchanges that don’t follow regulation get banned from Canada, Europe & the US. What good is holding XRP if you can’t benefit by trading it or cashing out because of regulation. All XRP holders will be screwed.

But that's not what's happening.  I just bought some in the US the other day.  No exchange is banned from using it - the problem is securities law is not clear and many exchanges don't want to take the risk because they are not licensed for securities.  If XRP were deemed a security - it would be completely legal to buy and own from licensed brokers, like Fidelty or Wells Fargo just like stocks.  -and there you have it, the banks are making crazy money from a fully regulated and compliant XRP.

Edited by WrathofKahneman
Link to comment
Share on other sites

All sound a bit conspiracy theory to me.

 

Ripple has a charity arm promoting inclusion for unbanked and underbanked populations.

https://ripple.com/impact

 

It's quite a stretch to say Ripple would change their fundamentals and technology to hand power over to a select group of users.

 

Edited by PlanK
Link to comment
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
 Share



×
×
  • 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.