Hey guys!
I’m kind of curious what you guys favourite coin is. My personal favourite IOTA. I think the Tangle is revolutionary because it enables zero fee transaction cost and its scalable unlike blockchain
What do you guys think?
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Doesn’t exist… but it will be something like master coin. The best of all coins in anyway
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@bixo, I am a huge xrp fan myself, IOTA would be my favorite but it is not my top coin yet, I am waiting for time to pass. XRP is “working the crowd” hard on a business side in regards to their target market and I love that. Success is not always about the technology, sometimes it is about the crowd adopting the technology and the crowd may not care or be aware of which technology is better for their needs. In addition, some business decisions are people/relationship based not technology based, ie. “I know you Banker named Tom”, “I trust you Banker named Tom and your advice Banker named Tom”, “Other people I trust (aka Banker Tom) know you-Ripple and are using you-Ripple and are happy with you-Ripple” and Ripple understands that.
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I like OMG OmiseGo (as many many others do) with its huge potential to be the first crypto to really break into reality and change way of payment by storm.
Also I believe that the first hotspot of crypto payment tech will be asia, especially southeast asia where the technical and cultural environment will allow crypto to adapt much faster than in conservative regions like EU or USA, where wealth makes people much more lame regarding adoption of new tech.
My secret tip is Loopring LRC.
Heavy team and heavy potential.
And its a project can be implemented much faster than monster projects like OMG, NEO, IOTA etc.
The project is still at the very beginning and as a decentralized exchange protocol it has huge potential regarding market capitalization.
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What I really like about IOTA, as far as my knowledge allows me to judge,
IOTA could at first find its way through closed systems and then spread out like roots of a tree.
Lets say a closed system like a hospital connects all his devices and machines with each other through IOTA technology, or lets say a big producing factory does so,
these systems could be managed decentralized in perfect manner.
Standard solutions would be established by the time.
And the next step could be connecting different standard solutions to bigger systems running.
Really like IOTA too!
We’ll see what happens.
What u think @bixo?
I don’t think I understand Ripple. Isn’t Ripple a payment protocol using blockchain for transferring other currencies? And the Ripple token is primarily used to pay transfer fees? This is what it looks like to me, but I don’t understand why there’s so much excitement around what is basically a lower-fee Swift system. Why should someone outside of a bank (other than traders) care about Ripple?
Since banks are still the nodes of financial flow
Ripple improves their distribution system.
Still we have our values saved in something called money, and this money is still saved and managed in/by banks.
Ripple is nothing for you and me.
Those who hype Ripple are either banks or people who wanna invest in Ripple and make profit.
Yet, if Ripple makes transactions faster and cheaper(hopefully not just for the banks), we will profit from that temporarily as we, like I already said, have our money still in banks!
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I like ZenCash, probably because it just shot up in price. ZenCash hit the market at the beginning of June and I got into it at the end of June. It’s a fork off of ZClassic, which forked off ZCash, which forked off of Bitcoin. It has the same basic monetary policy and structure as bitcoin. It has the anonymity features, the faster block time, and the hashing algorithm of ZCash. It replaced the block payments to investors that ZCash had with block payments toward a development pool like ZClassic, and it added a secure node system and a secure messaging system which is critically important for coordinating peer-to-peer transactions.
I still have a lot more money Bitcoin than I do in Zen despite the price rise. Zen is a better mousetrap on paper, but its still young and unproven. The secure node software just got released, and I haven’t checked on the messaging system but should be released soon if it hasn’t been already. They don’t have much in the way of designers and marketing, but they’re working on getting people for that now
Brent, sorry for the delay on answering your question, it has taken me a while to compose my thoughts and go through my ever growing disorganized Trello board. Here are my thoughts: short and super long with a little bit of crazy sprinkled in.
Answer #1: yes, yes, not just banks. Any company that needs to hold/receive/spend multiple currencies to do business will greatly benefit from holding/using XRP instead to remove liquidity issues and exchange risk. Airbnb is the rumored example. The more businesses/banks/institutions that hold the same currency to do this, the bigger the network, the bigger the benefits to the token holders.
Answer #2:
“All warfare is based on deception”.
The existence of and participation/support in/of cryptocurrency is to be at war with the current establishment, our societal values, the way that we currently live and other countries via the struggle for global economic dominance. This talk and focus in the community about which currency is better, are we going to the moon, what product a single company A is working on etc., is a ruse to disguise how our world is changing. Nationalistic constructs, self-identity constructs, perception and monetary value/monetization of time, space and of our very self will change because of the insane velocity/rotation of money created by block chain/cryptocurrency. All of this information stored on the block chain becomes an immutable history of our wants, desires, needs, expressed via payments, ie. what makes us human on the block chain for the next organic evolution of consciousness development via AI (drop the word artificial). We like to see our uniqueness, individuality, our consciousness as a construct of a glass of water in a bath tub, when in reality we are all represented as multiple glasses in the tub but our glasses are not full of water with a single consciousness, the tub itself is full of water as we are all consciousness (as in one). Our shared consciousness is like that body of water. I see this war/ conflict as consciousness’s expression of evolutional growth. Value of life will be represented by cryptocurrency which will become a living breathing thing. Any cryptocurrency that embeds itself in that fabric of life will stand the test of time and any government/corporation/individual who understands this will have power in the future.
This is my perspective on the end game. Back to Ripple. They understand they are at “war” and their endgame is not just banks it is to be the “payment rails of the internet"…as in the whole internet. Ripple likes to use the term “internet of value” to express this goal.
The “Man”, the “Establishment” and “Crypto” - “If he is secure at all points, be prepared for him. If he is in superior strength, evade him”.
Right now there are two roadblocks stopping large investors/businesses/implementers expanding with insane amounts of cash into the crypto market. Liquidity and governance. Banks and government are the key to overcoming these two issues, they are the 1000lb gorillas in the room with a large amount of control and influence over the system. Whereas some cryptos evade these gorillas, Ripple’s (with XRP) value proposition to banks is: evolve with us or die. Banks can change how they do business, save money on current operations and live to identify other sources of future revenue. The governance war between nations to control crypto is coming and if a currency can get the gorillas to eat bananas peacefully with them, banks without fear of regulation can initially be the primary facilitators of payments which will provide mechanisms for large amounts of money to easily enter and exit the crypto marketplace. Unfortunately for banks though, use of XRP will mean that banks are no longer the primary path and movers of money, new paths/rails will be created where there was none between entities that did not connect directly to each other in the past. This will benefit all crypto but at this point XRP is embedded in the foundation.
“In battle, there are not more than two methods of attack: the direct and the indirect: yet these two in combination give rise to an endless series of maneuvers.” “The direct and indirect
lead on to each other in turn. It is like moving in a circle—you never come to an end. Who can exhaust the possibilities of their combination?”
Ripple recently announced that the Bill and Melina Gates foundation is going to be using Xrp as part of their solution to help people. Bill Gates with his greying hair, wanting to save the world, he seems like the perfect grandfather next door. This man is no grandpa of industry, he is a f#ck!ng shark and his endeavor will be run like one. Banks and government will take time to get on board, so in the meantime, getting large corporations AND masses of people already using XRP will push the adoption of XRP with banks and governments. The players on the board are not just the Gates foundation but Microsoft proper (see attached article about this cross pollination). So, you have the largest software developer in the world with global market dominance now working on building apps to get XRP mainstream. Like status (SNT) they are focusing on cell phones, but cell phone providers themselves are helping code the project on flip phones. Again, not smart phones but FLIP phones. Remittance of micropayments alone by the World Bank is estimated at 600 billion and that assumes that people sent amounts that were worth sending home with a large fee. Imagine how many more remittances will happen once you can send $3 or so on the fly when your family across the world immediately needs it to their flip phone? In general, imagine how many people can access crypto currencies if they could do this on a flip phone. Holy smokes. And I’m not even talking about the opening of international markets to businesses selling low cost items to this same demographic which much of the world is in.
Anyway, I am going to stop here because this post is way too long as it is. Hopefully this helps express why I like Ripple/XRP.
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Thank you for the detailed and impassioned response!
I have a question about the liquidity for large payments for banks. Suppose a bank wants to send $1B to another bank. It clearly won’t be buying $1B worth of XRP or any other crypto on the market and sending it since it would cause too much of a price fluctuation since XRP’s market cap is $7B. Does it just use 1 XRP to log the transaction on the XRP ledger and settle later if needed?
Brent, right now, I believe the current concept of “market cap” is wrong when applied to crypto currencies this early in the game. What we understand market cap to be is going to be blown out of the water once some of these crypto currencies truly go mainstream and are used as they were designed to do on a day to day basis. I meant what I said that everything about our life will be for sale on a global level and that in itself changes the whole concept of market cap. What is the market cap of the amount of money that can exchange hands regarding me letting another smart car pass my smart car up on the road because I value profit over my time of me getting to work 5 minutes early (but the other person is obviously in a rush and values time over money? - this idea is not my idea but I could see it happening). Or what is the market cap of your genetic data being streamed to public studies across the world that could use that information? I hope you can see what I am talking about in regards to the market right now not truly understanding future market cap. And lets not get me started on the “war” that we as humans are going to fight regarding our rights to own our data in regards to its sale, usage or need to keep it private. I have started reading a book on emotional intelligence to be mentally ready for the level of truly personalized advertising that we will soon be inundated with. (Again back to my wants desires, etc represented as history stored on the blockchain that is going to change what and how things are advertised to me in addition to AI knowing my feelings better than myself as it scans my facial features and reads my body metrics).
Anyway, I am still learning about how companies can use XRP, but my understanding is that a bank could indeed buy $1B worth of XRP if needed. The max supply of XRP is nearly 100 billion tokens and XRP can be broken down to drops so you could still send 1 billion dollars and not use 1 billion XRP. I am not sure however how to answer your question about the 1 XRP on the ledger to log the transaction and about settlement later. I will ask your question on XRP chat as there are smarter people than me there who know a lot more about XRP inner workings.
I am waiting for 2020 to see if my current theory on the perspective of “market cap” is correct for XRP. I have seen and heard the date 2020 tossed around by the FED, Brad and even seen this date in some report by the Bank of England and I think there is going to be a day where I look at blockfolio and XRP is going to be some crazy number from the previous day. I think this coin is one where you either love it or hate it, it is not good for pump and dumps and if you are not on the airplane before it takes off you are going miss the ride.
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Interesting thoughts you have! I fully agree with you, since it’s possible to connect multiple tangles together this should be possible. I also think the new MAM update could be used in similar areas as you described.
Any DAG based coin is a contender; but Byteball Bytes because it is fully working, uses a deterministic consensus algorithm, is open source, comes with plenty of functionality out of the box and is in active use.
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IOTA zero fee does not mean free transactions. IOTA requires an imprecise but significant amount of Proof of Work to be done on two other transactions prior to having your own incorporated. That is a cost. And it is one you can’t 100% predict. And if your device is not powerful enough to do that work, the work would need to be delegated to another device on the network. Then you have the issue that consensus is probabilistic rather than deterministic.
ETH is a good project but very scalable
I like Zcash a lot. Edward snowden made me interested in it, after I heard he likes this coin the most.
Yeah I agree with Snowden, privacy coins are treasure!
But for long-term investment i can say that bnb will be a good choice.
Why do you think BNB is good? I thought it was just for paying fees at a discount on Binance, which seems a very narrow use case, or is there more to it?