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The coming utility bull run is not a pump and dump

 
Anonymous Coward
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05/27/2022 05:35 PM
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Re: The coming utility bull run is not a pump and dump
XLM is similar .. pre-mined 100 billion Lumens

The only difference is they burned half of the supply

Whereas Ripple put half of the supply of XRP into an escrow account
Anonymous Coward
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05/27/2022 05:45 PM
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Re: The coming utility bull run is not a pump and dump
Proof of work is crediting miner for resource use...?

Proof of stake is crediting someone for ...staking claim of territory in the blockchains landscape? (How bout some Proof of steak)

Proof of consensus is validating participating "votes" of allowing an exchange of resources to proceed.

Then, who pays for the maintenence costs of keeping the network running?
 Quoting: Nofri


Proof of work - leaving your car idling 24/7 to produce solved sudoku puzzles that you can use as currency

So POW you have to put in work

POS is no longer about the work you put in but rather how much you participate on the network. Which we refer to as staking.

The more a participant stakes the more voting rights they have then someone with a lesser stake. And you vote for which individual gets to reap the benefits of the next block

So its a digital version of our legacy system where the rich get richer and the poor stay poor


Proof of consensus built on byzantine agreement means a transaction is validated only if everyone on the network agrees that a transaction just happened.
There is no work because XRP is pre-mined and absolutely anyone anywhere in the world can run a validator node on the XRPL
 Quoting: Crypto Monk


XRP is pre-mined? Does that mean that mining blocks of XRP is a separate event from transactions registering on a ledger?

Does it also mean that running a validator node is paid for by the one running it (each pays for its own validation operation)?

How do neighboring nodes discover new validators on the network?
 Quoting: Nofri


I should fact check before I post this but I have something to do..

But I believe the creators of the XRPL originally had a company called Open Coin. And they decided to create 100 billion XRP

Open Coin dissolved but before doing so gifted the XRP to Ripple, the company.

There are only 100 billion XRP that will ever exist, they do not need to be mined for

And now there is a lesser amount because as I mentioned earlier. XRP is deflationary and cannibalizes itself as a way to pay for the gas fee

So a small amount of XRP is burned with every single transaction
 Quoting: Crypto Monk


Ah! So they supposedly already exist. What happens when enough XRP burns...? It can't be traded? Would it retain its value, then?

It's probably something I should check on my own but I don't even know how to research, I don't know how to navigate IP addresses on the interweb and don't trust any search engines, or any techn service that makes huge money in obscure ways.
Anonymous Coward
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05/27/2022 05:48 PM
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Re: The coming utility bull run is not a pump and dump
So PoW is work to solve equations that get harder over time and whoever solves the equation the fastest gets paid …but the amount of electricity used is comparable to that of a single household energy use in a single day per transaction

PoS is pay to play instead of working to play. He who has the money makes the rules and they choose to pay themselves

PoC built on a byzantine agreement, there is no work because XRP is pre-mined. And there is no pay to play because each validator node has to agree on a transaction instead on a centralized node deciding on the transaction like PoS.

And anyone in the world can operate an XRPL node

The XRPL is truly decentralized
Anonymous Coward
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05/27/2022 05:52 PM
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Re: The coming utility bull run is not a pump and dump
XRP, yo
Anonymous Coward
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05/27/2022 06:11 PM
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Re: The coming utility bull run is not a pump and dump
...


Proof of work - leaving your car idling 24/7 to produce solved sudoku puzzles that you can use as currency

So POW you have to put in work

POS is no longer about the work you put in but rather how much you participate on the network. Which we refer to as staking.

The more a participant stakes the more voting rights they have then someone with a lesser stake. And you vote for which individual gets to reap the benefits of the next block

So its a digital version of our legacy system where the rich get richer and the poor stay poor


Proof of consensus built on byzantine agreement means a transaction is validated only if everyone on the network agrees that a transaction just happened.
There is no work because XRP is pre-mined and absolutely anyone anywhere in the world can run a validator node on the XRPL
 Quoting: Crypto Monk


XRP is pre-mined? Does that mean that mining blocks of XRP is a separate event from transactions registering on a ledger?

Does it also mean that running a validator node is paid for by the one running it (each pays for its own validation operation)?

How do neighboring nodes discover new validators on the network?
 Quoting: Nofri


I should fact check before I post this but I have something to do..

But I believe the creators of the XRPL originally had a company called Open Coin. And they decided to create 100 billion XRP

Open Coin dissolved but before doing so gifted the XRP to Ripple, the company.

There are only 100 billion XRP that will ever exist, they do not need to be mined for

And now there is a lesser amount because as I mentioned earlier. XRP is deflationary and cannibalizes itself as a way to pay for the gas fee

So a small amount of XRP is burned with every single transaction
 Quoting: Crypto Monk


Ah! So they supposedly already exist. What happens when enough XRP burns...? It can't be traded? Would it retain its value, then?

It's probably something I should check on my own but I don't even know how to research, I don't know how to navigate IP addresses on the interweb and don't trust any search engines, or any techn service that makes huge money in obscure ways.
 Quoting: Nofri


When The escrow that is managed by Ripple runs out.. Ripple, the company will dissolve because it’s sole purpose is to manage the distribution of XRP

So that means all of the XRP will be circulating for whatever utility and slowly burning away and the investors (us) that never sell will end up with the last amounts of XRP

XLM is inflationary for this purpose. Think about it like XRP being liquidated into XLM

At that time there may be the creation of a new asset class. But I do not pretend to know the future
Anonymous Coward
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05/27/2022 08:31 PM
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Re: The coming utility bull run is not a pump and dump
I keep mine on an offline wallet in a faraday cage

Btw iso2022 compliancy goes live in November

Do not mind the trolls, Xrp threads are always attacked - trinity who owns this website is a Btc maxi

Btc people hate Xrp for they know deep down what will happen
 Quoting: Anonymous Coward 82034248


really? I thought trinity call btc a china coin. lol.
Anonymous Coward
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05/28/2022 01:16 AM
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Re: The coming utility bull run is not a pump and dump
Any 175 IQs out there that can answer the question?

When XRP burns out will there be the creation of another asset class?
Anonymous Coward
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05/28/2022 02:58 AM
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Re: The coming utility bull run is not a pump and dump
Any 175 IQs out there that can answer the question?

When XRP burns out will there be the creation of another asset class?
 Quoting: Crypto Monk


They could literally just clone the original token on the XRPL or whatever private chain they're using for settlement or mint a whole new token. There's really nothing stopping them from just doing that for whatever their BIS token will be except that XRP has the benefit of being an existing "neutral" asset. It seems pretty certain they'll be using some token that does what XRP does, but how we get there is yet to be seen. There are still a lot of moving pieces spanning the globe that need to start coming together.

It will be interesting to see how things progress with Flare as well. There's a lot to be excited about and as soon as I feel we've reached a bottom I plan on scooping up more utility.
Butch DeFeo

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05/28/2022 03:30 AM
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Re: The coming utility bull run is not a pump and dump
Any 175 IQs out there that can answer the question?

When XRP burns out will there be the creation of another asset class?
 Quoting: Crypto Monk


That's when they realize that the THETA NETWORK can do it all at a much lower cost, and there will be instant migration to THETA.

THETA TOKEN THET

:AAAWINNINGDONJR2:

GOLDCIGARETTE

Last Edited by Butch DeFeo on 05/28/2022 03:31 AM
:DOCSRBAFFLED::redblueLED::DONTBEAPANDEMICS:
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Anonymous Coward
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05/28/2022 04:00 AM
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Re: The coming utility bull run is not a pump and dump
Any 175 IQs out there that can answer the question?

When XRP burns out will there be the creation of another asset class?
 Quoting: Crypto Monk


XRP will burn out when the servers are EMP'd and in the second stone age we won't be needing it!
Anonymous Coward
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05/28/2022 04:02 AM
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Re: The coming utility bull run is not a pump and dump
The banks in USA are going to use USDC. Blackrock and Circle(USDC) are partners. Blackrock will even handle the cash reserve treasury. Watch the congress hearing they had last December, It is blatantly obvious.
pish
Turtle Hermit

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05/28/2022 04:04 AM

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Re: The coming utility bull run is not a pump and dump
So what is stopping them from releasing identical code called "XRQ" and basically throwing you to the wayside as a beta test?

If the tech is sound, it works. Why make a bunch of crypto-dreamers billionaires overnight?

The whole crypto markets seems like the biggest MLM scam ever, while testing the code...

I made money, and so did you and others because we got in early on the "money" tokens. Now its testing speed, bandwidth, etc...no reason they need to give anyone a single penny now.

And when they roll out whatever the "world currency" or system is...they can start from scratch...in fact I expect that..a nice "internet downtime" event lasting a couple months or so, to wipe the slate clean.

ALL crypto at that point will be rendered worthless.

Just how I see it playing out.

Last Edited by pish on 05/28/2022 04:05 AM
Always remember these words: Work hard, study well, and eat and sleep plenty! That is the Turtle Hermit way! We must master the art of peace in addition to the art of war!
Butch DeFeo

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05/28/2022 04:06 AM
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Re: The coming utility bull run is not a pump and dump
The banks in USA are going to use USDC. Blackrock and Circle(USDC) are partners. Blackrock will even handle the cash reserve treasury. Watch the congress hearing they had last December, It is blatantly obvious.
 Quoting: Anonymous Coward 81718635


No shit?

OMGWAT
:DOCSRBAFFLED::redblueLED::DONTBEAPANDEMICS:
Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN.
Anonymous Coward
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05/28/2022 04:12 AM
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Re: The coming utility bull run is not a pump and dump
But I don’t think they will regulate the rest of them out. Maybe the other USD stablecoins. XRP/XLM is great tech. Same with Ethereum. I believe in Doge too.
Anonymous Coward
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05/28/2022 09:06 AM
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Re: The coming utility bull run is not a pump and dump
Any 175 IQs out there that can answer the question?

When XRP burns out will there be the creation of another asset class?
 Quoting: Crypto Monk


XRP will burn out when the servers are EMP'd and in the second stone age we won't be needing it!
 Quoting: Anonymous Coward 83408221


There is a nuclear bunker in Switzerland, I believe, where the government is keeping an XRPL node.
Anonymous Coward
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05/28/2022 09:10 AM
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Re: The coming utility bull run is not a pump and dump
Any 175 IQs out there that can answer the question?

When XRP burns out will there be the creation of another asset class?
 Quoting: Crypto Monk


That's when they realize that the THETA NETWORK can do it all at a much lower cost, and there will be instant migration to THETA.

:THETA TOKEN THET:

:AAAWINNINGDONJR2:

:GOLDCIGARETTE:
 Quoting: Butch DeFeo


T heta net only has 10-20 nodes

Very centralized
Anonymous Coward
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05/28/2022 09:11 AM
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Re: The coming utility bull run is not a pump and dump
Nothing of major importance like banking will ever be on the t heta net
Anonymous Coward
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05/28/2022 09:15 AM
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Re: The coming utility bull run is not a pump and dump
"$10,000,000" XRP

LMFAO, do you realize what the market cap of xrp would need to be for that ridiculous price?

Of course you don't because you're an idiot to even mention that kind of stupidity.

epiclol

disgust2
Anonymous Coward
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05/28/2022 09:17 AM
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Re: The coming utility bull run is not a pump and dump
Any 175 IQs out there that can answer the question?

When XRP burns out will there be the creation of another asset class?
 Quoting: Crypto Monk


They could literally just clone the original token on the XRPL or whatever private chain they're using for settlement or mint a whole new token. There's really nothing stopping them from just doing that for whatever their BIS token will be except that XRP has the benefit of being an existing "neutral" asset. It seems pretty certain they'll be using some token that does what XRP does, but how we get there is yet to be seen. There are still a lot of moving pieces spanning the globe that need to start coming together.

It will be interesting to see how things progress with Flare as well. There's a lot to be excited about and as soon as I feel we've reached a bottom I plan on scooping up more utility.
 Quoting: Anonymous Coward 31527586


In order for anything to happen on the XRPL, there needs to be a proposal and each validator node needs to vote …

And you don’t quite understand that without XRP the XRPL is useless

Every transaction even if its a token other than XRP, on the XRPL needs XRP to burn to pay the transaction fee

If there is no XRP the XRPL is inoperable
Anonymous Coward
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05/28/2022 09:22 AM
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Re: The coming utility bull run is not a pump and dump
"$10,000,000" XRP

LMFAO, do you realize what the market cap of xrp would need to be for that ridiculous price?

Of course you don't because you're an idiot to even mention that kind of stupidity.

epiclol

disgust2
 Quoting: Anonymous Coward 77070237


The same old lame market cap bullshit

All market cap is in crypto is circulating supply times the last transaction

In crypto market cap does not equal value..In fact it means absolutely nothing

You fucking dumbass
Anonymous Coward
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05/28/2022 09:28 AM
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Re: The coming utility bull run is not a pump and dump
The banks in USA are going to use USDC. Blackrock and Circle(USDC) are partners. Blackrock will even handle the cash reserve treasury. Watch the congress hearing they had last December, It is blatantly obvious.
 Quoting: Anonymous Coward 81718635


If it is blatantly obvious than why the fuck did you post it?

I don’t know if you are trying to say the banks will use USDC instead of XRP but if you are, you are clearly an idiot

USDC is a CBDC. A central bank digital currency.. every country will have their own sovereign CBDC.

XRP is the neutral bridge asset that will allow interoperability between all of the various CBDCs
Anonymous Coward
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05/28/2022 09:30 AM
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Re: The coming utility bull run is not a pump and dump
But I don’t think they will regulate the rest of them out. Maybe the other USD stablecoins. XRP/XLM is great tech. Same with Ethereum. I believe in Doge too.
 Quoting: Anonymous Coward 81718635


You just showed your ass
Anonymous Coward
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05/28/2022 09:35 AM
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Re: The coming utility bull run is not a pump and dump
So what is stopping them from releasing identical code called "XRQ" and basically throwing you to the wayside as a beta test?

If the tech is sound, it works. Why make a bunch of crypto-dreamers billionaires overnight?

The whole crypto markets seems like the biggest MLM scam ever, while testing the code...

I made money, and so did you and others because we got in early on the "money" tokens. Now its testing speed, bandwidth, etc...no reason they need to give anyone a single penny now.

And when they roll out whatever the "world currency" or system is...they can start from scratch...in fact I expect that..a nice "internet downtime" event lasting a couple months or so, to wipe the slate clean.

ALL crypto at that point will be rendered worthless.

Just how I see it playing out.
 Quoting: pish


Come on man, did you even read the thread?

I already explained why new billionaires will be created essentially overnight

And no they are not going to just start a new protocol because it takes years and years and years of beta net testing to make sure everything works correctly when you are dealing with something as important as payments

There can’t be a world currency. Just bridge assets that connect sovereign currencies

XRP/XLM
DuckNCover

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05/28/2022 09:42 AM

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Re: The coming utility bull run is not a pump and dump
People will say “you are siding with the “NWO”

And it is evil. That is a product of an information virus.

There are people that know about the potential benefits of investing in digital assets before the utility bull run but they still choose not to participate.

Do you see how that works?

You have to be a little more open minded to understand that civilization does need to progress. And in a philosophical sense we should all agree that it is best to spread human consciousness throughout the solar system and beyond. And we are going to transition from a level 0 type civilization to a level 1 type civilization where we will operate in tandem as a global unit.

And technology will play a very important role in assisting us aa we attempt to achieve the impossible.

Things never stay the same. There was a lot of mistakes that were made along the way and we have the opportunity to change things for the better.

If you choose to be a thorn in the ass of the future you are a product of an information virus.
 Quoting: Crypto Monk 80263378


lol. i hope you are right. you seem naiive. it is siding w/ the nwo. and im doing it to make money, play w the big boys as they say. then maybe i can gtfo and live somewhere modest with some rumba gardening robots and a couple ppl that will help me plant and run my self sustainable farm.

you think the future will be awesome because you are libtarded. nothing ever changes. rich nihhas control shit. we live here on the bottom, bottomfeeding. that will never change. just gonna have new label, new slogan, and a new color of the dildo up your ass.
 Quoting: Anonymous Coward 80894186


I agree. There will always be the rich and poor with just label changes...

The whole thing boils down to Money and Power...

Look at Europe with it's Monarchies. You see rich and poor. You think those Monarch's wanted to raise those poor people to a middle class. Nope, they just taxed them to death...

Look at America. The creation of the middle class, after WW2. The Fiat Dollar all boosted wealth acquisition in the USA. Land ownership and the ability to acquire wealth through business means whether through hard work and/or business ownership boosted the low and middle class into the wealthy. You know that couldn't last long. They tore that down within 1 generation...

The New Model is NWO and One World Government. I don't agree with it...

smoking1
Anonymous Coward
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05/28/2022 09:49 AM
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Re: The coming utility bull run is not a pump and dump
"$10,000,000" XRP

LMFAO, do you realize what the market cap of xrp would need to be for that ridiculous price?

Of course you don't because you're an idiot to even mention that kind of stupidity.

epiclol

disgust2
 Quoting: Anonymous Coward 77070237


The same old lame market cap bullshit

All market cap is in crypto is circulating supply times the last transaction

In crypto market cap does not equal value..In fact it means absolutely nothing

You fucking dumbass
 Quoting: Crypto Monk


Thanks for proving my point about how retarded you are. Go back to math class.
Anonymous Coward
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05/28/2022 09:59 AM
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Re: The coming utility bull run is not a pump and dump
People will say “you are siding with the “NWO”

And it is evil. That is a product of an information virus.

There are people that know about the potential benefits of investing in digital assets before the utility bull run but they still choose not to participate.

Do you see how that works?

You have to be a little more open minded to understand that civilization does need to progress. And in a philosophical sense we should all agree that it is best to spread human consciousness throughout the solar system and beyond. And we are going to transition from a level 0 type civilization to a level 1 type civilization where we will operate in tandem as a global unit.

And technology will play a very important role in assisting us aa we attempt to achieve the impossible.

Things never stay the same. There was a lot of mistakes that were made along the way and we have the opportunity to change things for the better.

If you choose to be a thorn in the ass of the future you are a product of an information virus.
 Quoting: Crypto Monk 80263378


lol. i hope you are right. you seem naiive. it is siding w/ the nwo. and im doing it to make money, play w the big boys as they say. then maybe i can gtfo and live somewhere modest with some rumba gardening robots and a couple ppl that will help me plant and run my self sustainable farm.

you think the future will be awesome because you are libtarded. nothing ever changes. rich nihhas control shit. we live here on the bottom, bottomfeeding. that will never change. just gonna have new label, new slogan, and a new color of the dildo up your ass.
 Quoting: Anonymous Coward 80894186


I agree. There will always be the rich and poor with just label changes...

The whole thing boils down to Money and Power...

Look at Europe with it's Monarchies. You see rich and poor. You think those Monarch's wanted to raise those poor people to a middle class. Nope, they just taxed them to death...

Look at America. The creation of the middle class, after WW2. The Fiat Dollar all boosted wealth acquisition in the USA. Land ownership and the ability to acquire wealth through business means whether through hard work and/or business ownership boosted the low and middle class into the wealthy. You know that couldn't last long. They tore that down within 1 generation...

The New Model is NWO and One World Government. I don't agree with it...

smoking1
 Quoting: DuckNCover


I don’t even think you know what you are even disagreeing with

Just buzzwords like NWO and one world government that trigger people. World orders come and go, nothing new

If you understood the Triffin dilemma and how the US has royally fucked over so many countries around the world you would understand why it is important to redesign the financial structure

Its not about a global government.. it is about a global banking network with a “level playing field” for everyone

Even developing nations where billions of citizens will be added to the global economy with access to liquidity. On the road to effectively eradicating global poverty

I do not agree with the pessimistic sentiment AT ALL

But my intuition tells me it is due to lack of understanding
Anonymous Coward
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05/28/2022 09:59 AM
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Re: The coming utility bull run is not a pump and dump
"$10,000,000" XRP

LMFAO, do you realize what the market cap of xrp would need to be for that ridiculous price?

Of course you don't because you're an idiot to even mention that kind of stupidity.

epiclol

disgust2
 Quoting: Anonymous Coward 77070237


The same old lame market cap bullshit

All market cap is in crypto is circulating supply times the last transaction

In crypto market cap does not equal value..In fact it means absolutely nothing

You fucking dumbass
 Quoting: Crypto Monk


Thanks for proving my point about how retarded you are. Go back to math class.
 Quoting: Anonymous Coward 77070237


Do tell

Don’t worry I will wait
Anonymous Coward
User ID: 82146178
Liechtenstein
05/28/2022 10:09 AM
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Re: The coming utility bull run is not a pump and dump
So what is stopping them from releasing identical code called "XRQ" and basically throwing you to the wayside as a beta test?

If the tech is sound, it works. Why make a bunch of crypto-dreamers billionaires overnight?

The whole crypto markets seems like the biggest MLM scam ever, while testing the code...

I made money, and so did you and others because we got in early on the "money" tokens. Now its testing speed, bandwidth, etc...no reason they need to give anyone a single penny now.

And when they roll out whatever the "world currency" or system is...they can start from scratch...in fact I expect that..a nice "internet downtime" event lasting a couple months or so, to wipe the slate clean.

ALL crypto at that point will be rendered worthless.

Just how I see it playing out.
 Quoting: pish


Come on man, did you even read the thread?

I already explained why new billionaires will be created essentially overnight

And no they are not going to just start a new protocol because it takes years and years and years of beta net testing to make sure everything works correctly when you are dealing with something as important as payments

There can’t be a world currency. Just bridge assets that connect sovereign currencies

XRP/XLM
 Quoting: Crypto Monk


As a caveat to the “world currency” concept

I will say once all the XRP is burned than XLM will be the closest thing to the single world currency concept

But by that time Earthlings will be colonizing around the solar system so it will be more like an interplanetary currency

Perhaps that is why they call it Stellar Lumens or Star Light
Anonymous Coward
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05/28/2022 10:17 AM
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Re: The coming utility bull run is not a pump and dump
Any 175 IQs out there that can answer the question?

When XRP burns out will there be the creation of another asset class?
 Quoting: Crypto Monk


They could literally just clone the original token on the XRPL or whatever private chain they're using for settlement or mint a whole new token. There's really nothing stopping them from just doing that for whatever their BIS token will be except that XRP has the benefit of being an existing "neutral" asset. It seems pretty certain they'll be using some token that does what XRP does, but how we get there is yet to be seen. There are still a lot of moving pieces spanning the globe that need to start coming together.

It will be interesting to see how things progress with Flare as well. There's a lot to be excited about and as soon as I feel we've reached a bottom I plan on scooping up more utility.
 Quoting: Anonymous Coward 31527586


In order for anything to happen on the XRPL, there needs to be a proposal and each validator node needs to vote …

And you don’t quite understand that without XRP the XRPL is useless

Every transaction even if its a token other than XRP, on the XRPL needs XRP to burn to pay the transaction fee

If there is no XRP the XRPL is inoperable
 Quoting: Crypto Monk


What makes XRP great is the XRP ledger (XRPL)

XRP itself is just another cryptocurrency

But the XRPL is useless without XRP and the XRPL has been in development for the better part of a decade or more.

There is absolutely no way they can just try to create some new ledger tomorrow and expect it to be trustworthy enough for the entire world to depend on
Anonymous Coward
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05/28/2022 12:35 PM
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Re: The coming utility bull run is not a pump and dump
not posting here anymore

migrating to
Thread: Remastered: Utility Crypto Bullrun XRP/XLM "Level Playing Field"





GLP