The coming utility bull run is not a pump and dump | |
Anonymous Coward User ID: 78298466 United States 05/27/2022 05:35 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 76603286 United States 05/27/2022 05:45 PM Report Abusive Post Report Copyright Violation | Proof of work is crediting miner for resource use...? Quoting: Nofri 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? 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 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? 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 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 User ID: 78298466 United States 05/27/2022 05:48 PM Report Abusive Post Report Copyright Violation | 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 User ID: 76603286 United States 05/27/2022 05:52 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78298466 United States 05/27/2022 06:11 PM Report Abusive Post Report Copyright Violation | ... Quoting: Crypto Monk 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 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? 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 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. 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 User ID: 83444903 United States 05/27/2022 08:31 PM Report Abusive Post Report Copyright Violation | I keep mine on an offline wallet in a faraday cage Quoting: Anonymous Coward 82034248 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 really? I thought trinity call btc a china coin. lol. |
Anonymous Coward User ID: 73274489 Canada 05/28/2022 01:16 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 31527586 United States 05/28/2022 02:58 AM Report Abusive Post Report Copyright Violation | Any 175 IQs out there that can answer the question? Quoting: Crypto Monk When XRP burns out will there be the creation of another asset class? 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
User ID: 83141632 United States 05/28/2022 03:30 AM Report Abusive Post Report Copyright Violation | Any 175 IQs out there that can answer the question? Quoting: Crypto Monk When XRP burns out will there be the creation of another asset class? 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. :AAAWINNINGDONJR2: Last Edited by Butch DeFeo on 05/28/2022 03:31 AM :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 User ID: 83408221 05/28/2022 04:00 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 81718635 United States 05/28/2022 04:02 AM Report Abusive Post Report Copyright Violation | |
pish
Turtle Hermit User ID: 80956893 United States 05/28/2022 04:04 AM Report Abusive Post Report Copyright Violation | 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
User ID: 83141632 United States 05/28/2022 04:06 AM Report Abusive Post Report Copyright Violation | 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? :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 User ID: 81718635 United States 05/28/2022 04:12 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 73274489 Canada 05/28/2022 09:06 AM Report Abusive Post Report Copyright Violation | Any 175 IQs out there that can answer the question? Quoting: Crypto Monk When XRP burns out will there be the creation of another asset class? XRP will burn out when the servers are EMP'd and in the second stone age we won't be needing it! There is a nuclear bunker in Switzerland, I believe, where the government is keeping an XRPL node. |
Anonymous Coward User ID: 73274489 Canada 05/28/2022 09:10 AM Report Abusive Post Report Copyright Violation | Any 175 IQs out there that can answer the question? Quoting: Crypto Monk When XRP burns out will there be the creation of another asset class? 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: T heta net only has 10-20 nodes Very centralized |
Anonymous Coward User ID: 73274489 Canada 05/28/2022 09:11 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 77070237 05/28/2022 09:15 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80091417 United States 05/28/2022 09:17 AM Report Abusive Post Report Copyright Violation | Any 175 IQs out there that can answer the question? Quoting: Crypto Monk When XRP burns out will there be the creation of another asset class? 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. 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 User ID: 74643009 05/28/2022 09:22 AM Report Abusive Post Report Copyright Violation | "$10,000,000" XRP Quoting: Anonymous Coward 77070237 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. 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 User ID: 74643009 05/28/2022 09:28 AM Report Abusive Post Report Copyright Violation | 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 User ID: 74643009 05/28/2022 09:30 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 69075144 05/28/2022 09:35 AM Report Abusive Post Report Copyright Violation | So what is stopping them from releasing identical code called "XRQ" and basically throwing you to the wayside as a beta test? Quoting: pish 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. 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
User ID: 83457441 United States 05/28/2022 09:42 AM Report Abusive Post Report Copyright Violation | People will say “you are siding with the “NWO” Quoting: Crypto Monk 80263378 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. 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. 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... |
Anonymous Coward User ID: 77070237 05/28/2022 09:49 AM Report Abusive Post Report Copyright Violation | "$10,000,000" XRP Quoting: Anonymous Coward 77070237 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. 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 Thanks for proving my point about how retarded you are. Go back to math class. |
Anonymous Coward User ID: 74076317 05/28/2022 09:59 AM Report Abusive Post Report Copyright Violation | People will say “you are siding with the “NWO” Quoting: Crypto Monk 80263378 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. 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. 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... 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 User ID: 74076317 05/28/2022 09:59 AM Report Abusive Post Report Copyright Violation | "$10,000,000" XRP Quoting: Anonymous Coward 77070237 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. 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 Thanks for proving my point about how retarded you are. Go back to math class. Do tell Don’t worry I will wait |
Anonymous Coward User ID: 82146178 Liechtenstein 05/28/2022 10:09 AM Report Abusive Post Report Copyright Violation | So what is stopping them from releasing identical code called "XRQ" and basically throwing you to the wayside as a beta test? Quoting: pish 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. 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 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 User ID: 69075144 05/28/2022 10:17 AM Report Abusive Post Report Copyright Violation | Any 175 IQs out there that can answer the question? Quoting: Crypto Monk When XRP burns out will there be the creation of another asset class? 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. 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 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 User ID: 81665492 United States 05/28/2022 12:35 PM Report Abusive Post Report Copyright Violation | not posting here anymore migrating to Thread: Remastered: Utility Crypto Bullrun XRP/XLM "Level Playing Field" |