Many people seem to think that XRP is the banker coin. Why? Because it is marketed as such. But then why are the regulators like the SEC taking them to court? Because there's no reason for banks to actually use someone else's coin. They should just create their own if anything. Using someone else's product is a last resort. That last resort is Bitcoin, not XRP.
It's becoming blatantly obvious that Bitcoin is actually the banker coin. Think about it: what is Bitcoin's niche? Bitcoin's niche is super high security for gigantic transactions at the cost of high fees, poor scaling, and high power consumption by design. You aren't supposed to buy a cup of coffee with a gold bar. Stop asking.
Can you imagine walking into a Starbucks, pulling out your gold bar and a scale and asking how much weight you should shave off for your latte? That is figuratively what is going on when users ask about paying for things with Bitcoin. There's literally no need to spend Bitcoin in this way. That is not what Bitcoin was designed to do. If you want to spend Bitcoin for something, give your Bitcoin to a centralized custodian and load up USD on a debit card. This is a perfectly acceptable solution given the current state of this fledging technology.
Bitcoin was designed to be an essentially unhackable protocol that allocates 100% of all inflation to security. The more blocks that get built on top of your transaction (confirmations) the more secure that transaction becomes.
Bitcoin allows millions/billions of dollars to be transferred anywhere in the world, and after as little as 30 minutes (3 confirmations) the receiver of that money can be quite confident that this exchange of value has solidified and become permanent.
How long does it take to move that much money across borders with the SWIFT banking system? Usually sums like that even involve "trusted" escrow services and could takes weeks to complete. With bitcoin it takes an hour or two max.
All of this happened due to exponential growth. Bitcoin exists because humanity has undergone exponential growth and our economies are corrupt and cannot scale any higher. Bitcoin is being warped into the coin of the elite because it's too secure and expensive to cater to any other group. In other words: it is experiencing exponential growth and is limited to the niche it was designed for. It can't scale any other way.
On a certain level this sounds really bad and completely the opposite of what crypto is going for, but it's all perfectly fine and going according to plan. That's what we have these other 5000 coins for. Every legitimate network has a niche to fill, and overflowing value from Bitcoin constantly makes it way into the rest of the cryptosphere.
Market Watch:
So last night I wrote a quick little shitpost about price and speculation. Here are the highlights:
$40k proving to be critical level.
So how are my predictions doing? I seem to be the most right/wrong at the same time as is humanly possible.
Given the bullishness of this post, we are almost certainly to get rejected at $40k tomorrow. Sorry guys! Jinxed it!
LOL
And then what happened 12 hours later?
Went from this:
To this:
Ha... perfect
This market really seems to have everyone's number. Not only was I right about jinxing it with a crash back down to support... the price then immediately gets pumped up past $40k within a single 6 hour candlestick. Wild. I seem to keep calling these things perfectly wrong every time these days.
It should be obvious by now that Bitcoin is being extremely manipulated. These sharks know exactly what they are doing and push the market just a little bit past the technical extremes to make others extremely fearful, coercing them to buy and sell at the absolute worst times. This is why HODLing is the best strategy for us small fish.
However, I still think there is a better way to trade. I've been thinking a lot more about my Venti Trading System, and now that I've done quite a bit of database work I think I have a foundation to build on that could make this more of a reality. I really need to start trading my fake money again to see if my predictions are actually profitable these days. At this point I would be 100% all in with my fake Bitcoin stack. No reason to sell until the end of the month, and maybe not even then.
Conclusion
Exponential growth baffles the human mind, especially in terms of the stagnant financial systems we've built. The only other place we see this kind of exponential growth is in nature itself and technology, and even then that growth only lasts while the resources supporting that growth remain.
Well now money is tech, exploding into reality a new age of abundance. Resources are abundant and corporations/banks/governments can no longer hoard the means of production for themselves. The world is being reset, and the playing field is being flattened for everyone.
Posted Using LeoFinance Beta
Waiting for the break out to happen, it’s just a matter of time
Banker crypto coins? What, like a JPMorganCoin coin or something?
Posted Using LeoFinance Beta
You have a remarkable talent. You could talk about anything and it would appear to make sense! BTC will crash to 30 or will pump to 45? You name it. A mixture of your standard toolbox arguments / triggerwords (others might say bullshit bingo words) like "scaling", "centralized", "sharks", "cycle", a few random charts, blend and voila - the next post is there.
Sorry, but I can´t conclude anything anymore from those posts. They appear too much reward-driven than really insightful.
BTW: You forgot the Lighnting Network. It is not yet fully there, but it has some potential.
The Lightning Network is ironically another financial incentive for the Bitcoin network itself to fail to scale by design. Security of the LN is much lower than Bitcoin itself, and Bitcoin's niche is security, making the LN largely pointless in the long run. Other tokens will do it much, much better.
Also my 2018 post on cold reading.
Getting better at it, clearly.
https://peakd.com/cold-reading/@edicted/cold-reading
Yes, that old post had at least some original thoughts. I am exaggerating, but I hope you get my point.
And for the latte you don´t need that level of security.
Even for tadpoles like me too lol
Posted Using LeoFinance Beta
In fact, I tried the Ripple network, it is very fast, wonderfully
Perhaps this is what distinguishes it apart from the high supply but the speed of the network and transactions may actually make it a good target for banks
XRP will do just fine, there are a lot of bulls and the selling pressure has been put on ice from the lawsuit.
Crap, I'm gonna have to sell my scale, I guess
Posted Using LeoFinance Beta
But they will use XRP because a bank cant create their own coin that does the exact same thing as XRP while still giving banks control. 🤦♂
XRP has a solid future but it's not going to do what people think.
Any coin with a community will endure.
And the XRP Army are just as energized and toxic as any of the other maximalists.
xRp HeZ a SoLiD FjuTr. 😄
Anything that is used will be used in one way or another. Theres still people that prefer Myspace over Facebook.
The claim is: "XRP will replace fiat, replace BTC" etc.
Its just going to be a point of reverence for its community that makes the most absurd claims out of all the old school communities (Not counting new wave memeshit)
The XRP army is absolutely nuts... I don't think anyone with any actual sense believes XRP will replace fiat. All Ripple is trying to do is replace the SWIFT system, and XRP is purely the oil in that machine... I'm sure they sold XRP initially to raise funds to continue building, but I'm absolutely sure they wish they didn't.
Ripple is a little weird
Crazy amount of coins
Meaningless partnerships
and blurred vision
All it has is the big history like Ethereum and Litecoin, other than that it puts herself under suspicion
If @edicted says red, put it all on green. Easy money.
I’m starting to think that the GBTC in my IRA might, all by itself, allow my wife to retire early. Too bad it’s in a traditional IRA rather than a Roth. Might have to look into a Roth and add to my position.
It's a wild shuffle of constantly being right at the wrong times.
Do you expect BTC to hang out around in the 37.5k-42.5k range for a while?
Posted Using LeoFinance Beta
I hadn't thought about the gold bar to pay for a coffee, but it sounds logical, one wouldn't use a very valuable asset to pay for something stupid.
Posted Using LeoFinance Beta
Thanks for the encouragement really love to be here