Official Bitcoin Thread

[itshlittt]

Please read this. And if you still want to pump XRP, by all means.



And this:



Most of the general public fails to realize the value props BTC offers that no sh-coin does: decentralization and provable scarcity. But go ahead and own something the owners have majority stake in and no transparency around.
If your only goal is to make money, then sure, XRP will pump when BTC pumps. But I'd recommend people look at the % back to their ATH today and compare it to BTC's. Same cycle will happen to these useless coins in the next bear market.

are you imposing that only btc will thrive in the future?

you do know that bitcoin is centralized, right?

 

[itshlittt]

so only coins with scarcity will go up in value. not coins with actual utility?

is that what were doing here? if so, ripperoni pies for you guys.

 

[itshlittt]

XRP as a trading vehicle I agree with. XRP as a $10,000 asset adopted by the IMF is stupidity.

where the hell did you get 10k from

 

[wr]

Funny how btc has a limited supply yet has forked into a hundreds of different versions. Talk about limited supply lol.

 

[johnnyredstorm]

where the hell did you get 10k from

Been seeing some nonsense on the internet.

 

[wr]

A financial institution in NY has to send 10 million dollars to London.

When they log into the settlement software they will have delivery options and prices for the transaction.

Which option is the F.I. going to use:
A. 10-15 business day and partial post/ credit and multiple Automated Clearing Houses 1% FX fee.
B. 30 minutes to hours with fees in the $100k range on a public ledger
C. Private permission based ledger with 3 to 4 seconds transfer time and a $.005 transaction cost.

You think these strapped for cash companies are gonna spend more money because everyone on the internet thinks Xrp is a sh..coin?

We care more about loyalty to these coins than the actual people that made them is all I'm trying to point.

 

[johnnyredstorm]

A financial institution in NY has to send 10 million dollars to London.

When they log into the settlement software they will have delivery options and prices for the transaction.

Which option is the F.I. going to use:
A. 10-15 business day and partial post/ credit and multiple Automated Clearing Houses 1% FX fee.
B. 30 minutes to hours with fees in the $100k range on a public ledger
C. Private permission based ledger with 3 to 4 seconds transfer time and a $.005 transaction cost.

You think these strapped for cash companies are gonna spend more money because everyone on the internet thinks Xrp is a sh..coin?

We care more about loyalty to these coins than the actual people that made them is all I'm trying to point.

They’re going to use the one created by the federal reserve. None of these tokens will be used in that capacity.

 

[itshlittt]

They’re going to use the one created by the federal reserve. None of these tokens will be used in that capacity.

Bro, no cap you're one of the members on NT I really rock with, especially cause you're a knick fan like me

But whatever the feds create or other cbdc won't have any interoperability with each other so it won't work. Respectfully please do some more research on this.

 

[itshlittt]

Back to ripple, yea we don't know if they're just being used as contractors/advisors but they are literally plugged in a lot of government entities, **** they're the only crypto company that has an office in DC from what I know.

Its possible that xlm could be used for digital currencies, like one bank in Germany is setting up on the xlm ledger, as well as Akon's coin, Akoin

But interoperability is needed otherwise its just the same old problem, just digital.

I really think this is bigger than we all think, and we shouldn't just look at this space as a quick investment opportunity but potentially a global shift into the digital space.

 

[wr]

They’re going to use the one created by the federal reserve. None of these tokens will be used in that capacity.

Every country will have its own CBDC ( central bank digital currency).

Do you think ever country will openly accept other countries CBDC or will there need to be some form of interoperability?

Are you aware of how prefunding works for FX and how much money needs to just be sitting as dormant capital in different types of fiat currency just to facilitate transaction settlement?

What ledger do you think these CBDC's will pass through?

 

[wr]

I could start my own company selling software to banks and large companies that plugs them into open source ledgers. They are paying for convenience and a user interface. Ripple the company and the XRP ledger are not the same thing.

How are all these countries that agree to climate change gonna trade their carbon credit tokens?

 

[wr]

China confident ‘de-dollarization’ is fast underway amid tense times - Global Times

www.globaltimes.cn

China confident ‘de-dollarization’ is fast underway amid tense times


To offset risks brought by US dollars, the US share in global gold reserves fell from 23.64 percent at the end of June 2019 to 15.5 percent at the end of June 2020. This reflects countries' weakening of trust in the US dollar. It is conceivable that the US sanctioning against China due to the country's national security legislation for Hong Kong will further accelerate most countries' "de-dollarization" programs.

In addition to US Treasuries, payments as well as foreign reserves, digital currency is the latest factor that affects the "de-dollarization" progress. Digital currency seeks a comprehensive replacement of the US dollar as the primary international currency in terms of issuance, technology, and tools. Major economies including China, the EU, and Japan, plus many multinational corporations, have conducted long-term digital currency research.

Since the 21st century began, many doubters of "de-dollarization" have been holding that global "de-dollarization" is still in its infancy. They feel markets are mainly dependent on the US dollar. But the COVID-19 pandemic seems to have triggered a faster "de-dollarization" progress. Considering other countries' diplomatic decisions and the market's expectations for the US dollar, one can judge that the US can never form a strategic containment circle against China.

China is confident in this.

 

[wr]

 

[itshlittt]

we are going from the internet of information to the internet of value.

whether you believe this or not, it's happening so position yourself well if you finna make some $$$$.

 

[itshlittt]

Tweeted today.

 

[fapmasterjr]

It is irresponsible for any so called "investor" to not have an allocation of BITCOIN in their portfolio. You should at minimum have 1% of your $$$ in bitcoin. From there, dabble and start taking risks with other cryptocurrency.. Key thing is to get in NOW and not wait for the influx. If anyone here believes crypto/bitcoin is NOT the future, lets bet what out performs bitcoin within 5yrs... we can put 10k in a smart contract and winner takes it.

 

[itshlittt]

It is irresponsible for any so called "investor" to not have an allocation of BITCOIN in their portfolio. You should at minimum have 1% of your $$$ in bitcoin. From there, dabble and start taking risks with other cryptocurrency.. Key thing is to get in NOW and not wait for the influx. If anyone here believes crypto/bitcoin is NOT the future, lets bet what out performs bitcoin within 5yrs... we can put 10k in a smart contract and winner takes it.

Id even go as far as saying 10% of your net worth.

BTC will have its place as the ultimate store of value aka digital gold.

 

[johnnyredstorm]

You guys realize we kill leaders and take over countries over the dollar being the reserve currency. Do you think that is going to change when there’s a digital currency?

 

[itshlittt]

You guys realize we kill leaders and take over countries over the dollar being the reserve currency. Do you think that is going to change when there’s a digital currency?

Probably not

I don't get your point though, the usa is literally pushing crypto and blockchain now more than ever. this is happening bro.

 

[johnnyredstorm]

Probably not

I don't get your point though, the usa is literally pushing crypto and blockchain now more than ever. this is happening bro.

And I’m long the coins I think offer the best return. But some of y’all need to understand how geopolitics works and the economy. I can tell who wasn’t here in 2017 because y’all are making the same mistakes with the same ideologies we all did the first time around. Central banks will not let the system be uprooted by a random ****coin. And bitcoin will be looked at as a reserve asset with some select developing nations taking a shot to combat their runaway inflation. But keep perspective and don’t think this is some new Avenue that can discredit basic economics and the structure that is in place. The goal for the top 1% is to take your money, not give you more. Don’t fall victim to their games.

 

[wr]

Breh, they are talking about resetting the system and going digital everyday. You are behind on what's going on. Xrp ain't no random sh coin. It's the only protocol present at these meeting.

I urge you to look closer

ISO 20022 is an ISO standard for electronic data interchange between financial institutions. It describes a metadata repository containing descriptions of messages and business processes, and a maintenance process for the repository content. The standard covers financial information transferred between financial institutions that includes payment transactions, securities trading and settlement information, credit and debit card transactions and other financial information.

The repository contains a huge amount of financial services metadata that has been shared and standardized across the industry. The metadata is stored in UML models with a special ISO 20022 UML Profile. Underlying all of this is the ISO 20022 metamodel - a model of the models. The UML profile is the metamodel transformed into UML. The metadata is transformed into the syntax of messages used in financial networks. The first syntax supported for messages was XML Schema.



ISO 20022 is widely used in financial services. Organizations participating in ISO 20022 include: Ripple, FIX Protocol Limited (Financial Information eXchange), ISDA (FpML), ISITC, Omgeo, SWIFT, and Visa.

ISO 20022 - Wikipedia

en.m.wikipedia.org

I know people are tribal but Xrp is the one everyone universally hates for some reason lol

 

[johnnyredstorm]

Yeah they’re gonna tie the world to a premised coin that can be diluted in a second. Cmon fam. The premise of digital currencies is real and underway. The answer isn’t xrp. You don’t even need xrp to run the ripple protocol.

 

[wr]

Yeah they’re gonna tie the world to a premised coin that can be diluted in a second. Cmon fam. The premise of digital currencies is real and underway. The answer isn’t xrp. You don’t even need xrp to run the ripple protocol.

Breh, Xrp is a native token for the Xrp ledger.
I don't think you understand the premises of a digital currency. Settlement layer and liquidity is needed.
The fastest recorded btc transaction was settled on the Xrp ledger.
It's not about this coin that coin.
It's about all the coins and all the money moving through a decentralized settlement layer.

This is about me sending $100 USD to my family anywhere in the world and it gets there in 3 seconds without 30% of what I sent being eaten up by fees by a money servicing company and they can withdraw in whatever currency they need.

 

[wr]

Banks are going to have to compete with apps with much cheaper or free transfers.

Banks also have trillions of dollars locked up in prenfund accounts that can be freed up and actually spent locally instead of just sitting there to provide liquidity for daily FX. This is world changing.

Like flint could have clean water and we can stoo wasting time with all these politicians holding up budgets for personal gain. Literally removing friction from the system.

 

[JL415]

are you imposing that only btc will thrive in the future?

you do know that bitcoin is centralized, right?

No, all I'm saying is the biggest problem that needs to be fixed right now is protecting our wealth from the govt constantly debasing fiat currencies. I think there will be different use cases for other coins, but it's very much up in the air as to what other problems are needed to solve for via crypto.

Lol @ bitcoin being centralized.