Thread: RIP Bitcoin

Ripple's had problems waiting for regulations and getting liquidity. After regulations FIs can hold the asset and liquidity should follow. Looks like Ripple got sick of waiting, today they announced they bought a stake in Moneygram and will be using Xrapid.
It's a gusty move, Moneygram is financially not in good shape, ready to fall over. On the plus side they have massive banking relationships in place and massive worldwide reach including a partnership with Walmart. This will be a big boost for liquidity for XRP and hopefully if they do it right other companies are gonna have to come on board to compete or die.

https://ripple.com/insights/ripple-a...ant-moneygram/


In other news tomorrow Fakebook announces it's crypto offering. Expected to be some kinda stable coin. It's another centralised walled garden but with a potential couple billion of customers who whore themselves online for 'likes' I'm sure it'll be successful.

^
Here's the video version of the above post...

https://www.bloomberg.com/news/video...ceo-says-video

And BTC pushing up close to 300k. All looking good.

Originally Posted by Plan B

In other news tomorrow Fakebook announces it's crypto offering. Expected to be some kinda stable coin.

10 million USD for one of a hundred processing nodes/ "miners " - fully centralised stablecoin - be interesting to see how they handle fiat on/offramps and non authorised exchanges -

How many people are gonna be keen to KYC their fakebook account given the recent history of unfettered selling of personal information with no regard for how it is used.

I backed out of the BOMB airdrop when the email came to provide my KYC

Libra whitepaper for anyone interested - this will be the death knell for many cryptos

though the language is quite fluffy

The Libra Blockchain is designed from the ground up to holistically address these requirements and build on the learnings from existing projects and research — a combination of innovative approaches and well- understood techniques.

“Move” is a new programming language for implementing custom transaction logic and “smart contracts” on the Libra Blockchain. Because of Libra’s goal to one day serve billions of people, Move is designed with safety and security as the highest priorities. Move takes insights from security incidents that have happened with smart contracts to date and creates a language that makes it inherently easier to write code that fulfills the author’s intent, thereby lessening the risk of unintended bugs or security incidents. Specifically, Move is designed to prevent assets from being cloned.

-http://libra.org/en-US/white-paper/#the-libra-blockchain

all those bitcoins guys must have been taking creative writing at college,

maybe they could work for HBO and create the next Games of Throne season

^^ Sounds a lot like the crypto GenCoin at the center of the new Amazon Prime series called The Startup involving Russian Mafias, corrupted FBI agents, and Black gangsters

Originally Posted by Dragonfly

all those bitcoins guys must have been taking creative writing at college,

maybe they could work for HBO and create the next Games of Throne season

or write quarterly finance report.. or write stock market predictions

It's like they've Ctrl C + Ctrl V all the buzzwords from all previous crypto and chucked them into one place.

Check out this guy's twitter feed...

https://twitter.com/davidmarcus/stat...09513316302849

highlight...

8/ One of the reasons for creating @Calibra was to have a dedicated, regulated entity that will make strong privacy commitments to its customers as we've heard loud and clear that you don't want social and financial data commingled. We understand we will have to earn your trust.

That will be their biggest hurdle. The trust between Fakebook and its users is broken. They've promised a lot of things about your personal data in the past and failed terrribly.

^^^^^

Adding a new programming language adds complexity and is a barrier to adoption.
I guess they're quite confident that people will jump on this.

Originally Posted by lom

or write quarterly finance report.. or write stock market predictions

interesting you say that, because English majors hired by banks do quite well

language is a very powerful weapon, more than maths, and yes writing skills is key to write the bullshit on WallStreet, so all the idiots feel better when putting money in some shit stocks

hence why we have Quants for investing, we need them to filter out all the bullshit with real hard numbers

so in that regard, the currency digital players are really no different than WallStreet bandits

Facebook plans to launch own cryptocurrency called Libra

https://teakdoor.com/the-teakdoor-lou...ml#post3961240 (Facebook plans to launch own cryptocurrency called Libra)

Fakebook coin hasn't been out long (hasn't actually been created, still a white paper) and already one Finance minister and one American Senator is calling for it to be stopped.


Good to see they're gonna face the same hurdles as every other crypto. I think their estimate of having this huge undertaking up and running in a year is very optimistic. Sure, they've got a boatload of money & resources on their side but they still have to wade through the red tape like everyone else. Having a bunch of companies together in a crypto-monopoly they are also gonna have the specific issue of Antitrust to deal with.

they could create their own 'currency' without going crypto, so not sure what they are trying to accomplish by joining the fray of online gamblers, fraudsters and dark netter

Originally Posted by Dragonfly

they could create their own 'currency' without going crypto, so not sure what they are trying to accomplish by joining the fray of online gamblers, fraudsters and dark netter

I imagine quite a few shareholders will get quite a bit richer when it spikes then crashes.

Originally Posted by Luigi

300k.

300k yesterday.

330k today.

^
Weren't you supposed to selling out end of last year?

I typed the date wrong.

Originally Posted by Luigi

300k yesterday.

330k today.

Head for the lifeboats, just crashed to 328,033...