Bitcoin, Cryptocurrency, and the Future of Global Finance

[reecetn]

What is the basic premise of DeFi ?

• Decentralized (remove third parties)
• Stable coins, Software, and hardware to create DApps
• very very low fees.
• instant settlement
• level playing field

I am tired of typing you get the gist.

 

[85SugarVol]

• Decentralized (remove third parties)
• Stable coins, Software, and hardware to create DApps
• very very low fees.
• instant settlement
• level playing field

I am tired of typing you get the gist.

Do you follow politics?

 

[reecetn]

Do you follow politics?

No

 

[85SugarVol]

No

Ah ok.

There are truckers up in Canada that are protesting. Govt is not amused.

These truckers can raise $Millions in support. But they can’t seem to take possession of any of it…..

The .gov keeps finding a way to stand in the middle of the transaction.

 

[reecetn]

What is the basic premise of DeFi ?

 

[reecetn]

Ah ok.

There are truckers up in Canada that are protesting. Govt is not amused.

These truckers can raise $Millions in support. But they can’t seem to take possession of any of it…..

The .gov keeps finding a way to stand in the middle of the transaction.

Oh yea, they stood in the way until go **** me realized all the charge back fees from pissed of people would bankrupt them and decided to do the right thing and refund it. Then Give Send Go

Now back to regularly scheduled programing.

I am not sure how you got to truckers from my original post.

 

[85SugarVol]

Maybe I’m just way off here.

I can’t seem to connect the dots.

 

[theFallGuy]

Oh yea, they stood in the way until go **** me realized all the charge back fees from pissed of people would bankrupt them and decided to do the right thing and refund it. Then Give Send Go

Now back to regularly scheduled programing.

I am not sure how you got to truckers from my original post.

He is comparing the blocking for funds for the truckers from Go Fund Me to DEFI. With DEFI funds can be exchanged without the middleman making us truly free. I think that was what he was getting at at least.

 

[reecetn]

Maybe I’m just way off here.

I can’t seem to connect the dots.

Any Decentralized blockchain in any type of industry will take out the middle man.

 

[reecetn]

Maybe I’m just way off here.

I can’t seem to connect the dots.

I am not sure if you are new to crypto. If you are and want to try it out this late in a bull run, check to see which assets have not yet reached the all time high in previous cycles.

 

[85SugarVol]

He is comparing the blocking for funds for the truckers from Go Fund Me to DEFI. With DEFI funds can be exchanged without the middleman making us truly free. I think that was what he was getting at at least.

Ding Ding

 

[85SugarVol]

I am not sure if you are new to crypto. If you are and want to try it out this late in a bull run, check to see which assets have not yet reached the all time high in previous cycles.

Not new to crypto. Not an expert either.

But I can see the myriad utility of blockchain technology.

Was attempting to use a current, real world example to illustrate an imo, fascinating use case.

 

[reecetn]

Not new to crypto. Not an expert either.

But I can see the myriad utility of blockchain technology.

Was attempting to use a current, real world example to illustrate an imo, fascinating use case.

Yes DEFI is a very sustainable solution to lending. Right now scams exist and the government is pointing that out and ignoring the legitimate use case to cover their legacy banker buddies. See SEC vs Ripple for a very desperate but failing attempt of the SEC to block ripple from the settlement market.

I have about 2% of my portfolio in DEFI and it is giving crazy returns. Just keeping an eye on the big picture before taking a deeper dive.

 

[reecetn]

But But But..... I thought JP Morgan and all the big banks said crypto would go away!!!!

 

[Thunder Good-Oil]

But But But..... I thought JP Morgan and all the big banks said crypto would go away!!!!

Just because they may not have currently been advising clients to load up doesn’t mean they expect crypto to go away.

 

[reecetn]

Just because they may not have currently been advising clients to load up doesn’t mean they expect crypto to go away.

And all who paid attention to the moves that have been made instead of listening to the misinformation in mainstream media have their bags fully packed and ready to reap the rewards.

 

[Thunder Good-Oil]

And all who paid attention to the moves that have been made instead of listening to the misinformation in mainstream media have their bags fully packed and ready to reap the rewards.

The moves are totally random and driven by speculation. There is no basis for the valuations. Supply and demand isn’t valid when thousands of currency names are in play. There is no governing body to weed out fraud. Currencies are as likely to lose 75% of their value as they are to double.

 

[reecetn]

The moves are totally random and driven by speculation. There is no basis for the valuations. Supply and demand isn’t valid when thousands of currency names are in play. There is no governing body to weed out fraud. Currencies are as likely to lose 75% of their value as they are to double.

But But But..... I thought JP Morgan and all the big banks said crypto would go away!!!!

Just in case the link above did not work.

JP Morgan’s North America Equity Research report published earlier this month puts XRP in the spotlight, even stating the digital asset is poised for significant adoption.

While the price of XRP has fallen in recent days, along with the rest of the cryptocurrency market, Ripple Labs has been working non-stop in signing new partners for its RippleNet network and On-Demand Liquidity service, thus spreading the use of XRP, especially in the cross-border payments space.

XRP vs Swift

The JP Morgan report started out by stating “XRP was engineered to facilitate transactions on Ripple’s blockchain-based digital payment network. Benefits of the network include expedited payments and reduced transaction fees”.

The paper mentions its founding date, 2012, and co-founders Jed McCaleb (who has left the company to launch Stellar) and Chris Larsen (who is a co-defendant in the XRP lawsuit filed by the SEC).

“While traditional money transfers – most commonly SWIFT transfers – are costly and can take up 5 business days to complete, transactions using Ripple’s XRP can be completed in as little as 3 to 5 seconds and transaction fees are just 0.0001 XRP. SWIFT transfers are more expensive due to the numerous intermediary banks involved that charge fees to both the sender and recipient.”

The Ripple network includes more than 100 financial institutions, including Bank of America, Santander, and American Express.

XRP vs Stable Coins

Then, the JP Morgan document explained XRP’s unique value in comparison to stablecoins using the words of Ripple’s senior director of global operations Emi Yoshikawa.

“The role of XRP as a bridge asset in international settlement is not competing with stablecoins but on the contrary, it is complementary.”

XRP is not pegged to an underlying currency unlike stablecoins, which follow their underlying currency’s volatility.

XRP vs SEC

The SEC v. Ripple lawsuit is an inevitable topic of discussion for XRP. On that matter, JP Morgan points to the Howie test as the end goal and gives away the likelihood of a Ripple win.

The Howie test says that an investment contract exists when these four conditions are met: investment of money in a common enterprise with the expectation of profit to be derived from the effort of others.

“For the SEC to win the suit, Judge Sarah Netburn […] must determine that all aforementioned four points are met; if she determines that one or multiple points are not met, Ripple will win the suit”.

“If the company is able to win the SEC lawsuit and trading resumes on major cryptocurrency exchanges like Coinbase, XRP is poised for significant adoption”.

 

[Thunder Good-Oil]

Just in case the link above did not work.


XRP vs Swift


XRP vs Stable Coins


XRP vs SEC

All that pumping and nothing about how coins should be valued. Dot com and meme stock-like like speculation.

 

[reecetn]

All that pumping and nothing about how coins should be valued. Dot com and meme stock-like like speculation.

Read the XRP vs Swift section again.

The JP Morgan report started out by stating “XRP was engineered to facilitate transactions on Ripple’s blockchain-based digital payment network. Benefits of the network include expedited payments and reduced transaction fees”.

The paper mentions its founding date, 2012, and co-founders Jed McCaleb (who has left the company to launch Stellar) and Chris Larsen (who is a co-defendant in the XRP lawsuit filed by the SEC).

“While traditional money transfers – most commonly SWIFT transfers – are costly and can take up 5 business days to complete, transactions using Ripple’s XRP can be completed in as little as 3 to 5 seconds and transaction fees are just 0.0001 XRP. SWIFT transfers are more expensive due to the numerous intermediary banks involved that charge fees to both the sender and recipient.”

The Ripple network includes more than 100 financial institutions, including Bank of America, Santander, and American Express.

 

[Thunder Good-Oil]

Read the XRP vs Swift section again.

Yet still no basis for a valuation. Stocks: company earnings and future earnings. Bonds: return of principal and discounted promised interest payments. Funds: pooling of other assets of determinable value. Commodities/metals: usefulness (consumption as consumer staples or industrial applications) and inventory scarcity of underlying goods. Options: derivatives of other investable assets. Real estate: cash flow generated and supply/demand of non-income generating asset. Currencies: stability and productivity of issuing governments. Crypto: speculation based on historical speculation. Collectibles/artwork: historical significance and rarity.

 

[reecetn]

Yet still no basis for a valuation. Stocks: company earnings and future earnings. Bonds: return of principal and discounted promised interest payments. Funds: pooling of other assets of determinable value. Commodities/metals: usefulness (consumption as consumer staples or industrial applications) and inventory scarcity of underlying goods. Options: derivatives of other investable assets. Real estate: cash flow generated and supply/demand of non-income generating asset. Currencies: stability and productivity of issuing governments. Crypto: speculation based on historical speculation. Collectibles/artwork: historical significance and rarity.

LOL, do you know what SWIFT is and what they process?

and you think this is no basis for valuation?????
The Ripple network includes more than 100 financial institutions, including Bank of America, Santander, and American Express.

LOL, that is hilarious.

 

[Thunder Good-Oil]

LOL, do you know what SWIFT is and what they process?

and you think this is no basis for valuation?????
The Ripple network includes more than 100 financial institutions, including Bank of America, Santander, and American Express.

LOL, that is hilarious.

Being in a network still provides zero basis for establishing a valuation. There is no underlying way to determine a fundamental appraisal. You can compare one to another, but when there is no cap on the creation of new coins and valuations are simply relative to other cryptos guessing the valuations is pure speculation.

 

[reecetn]

Being in a network still provides zero basis for establishing a valuation. There is no underlying way to determine a fundamental appraisal. You can compare one to another, but when there is no cap on the creation of new coins and valuations are simply relative to other cryptos guessing the valuations is pure speculation.

So using a neutral bridge currency capped at 100 Billion assets which are deflationary to transfer trillions across borders will not set a value? Keep in mind this is only one of its use cases.

 

[Thunder Good-Oil]

So using a neutral bridge currency capped at 100 Billion assets which are deflationary to transfer trillions across borders will not set a value? Keep in mind this is only one of its use cases.

Cryptos have concocted valuations relative to other cryptos. Stocks, bonds, commodities, metals, national currencies, options, real estate, funds have valuations that relate back to something of tangible value.