Sametboy2019

Sorry i must of heard a different answer to you. He asked the question and Draper's answer was overall scenario rather than direct but then Gensler butts in and gets to the point quicker than Draper by saying "Then they adopt the technology"! The example of tens of thousands of computers v the smaller network is only valid if the tech is the same but using a older system thats is more energy consuming v a newer greener tech make that argument invalid. Also the system now is swift so that is not faster or cheaper than any crypto/blockchain. If you are talking about systems like Wise i get what your saying but im talking from a wholesale point of view not retail. Wise isnt going to take a payment of trillions of dollars like Swift does. Wise is a P2P payment system. The Federal Reserve are arguably the biggest criminals on the planet. The initial argument about sending money is correct. I dont know why anybody would use swift to send smaller amounts of money but many people still do through lack of knowledge. XRP is primarily a settlement system. The ability to exchange in 4 second and for a fraction of a penny. Now with a wholesale CBDC we see a system for banks to move the money they move each day through swift to be moved using XRP (Ripples patented ODL technology) eliminating the need for Nostro/Vostro accounts. Im not sure that retail will see this technology given to us yet as im sure the banks would like to keep robbing the middle and working class for a few more years. This all might tie in with the implementation of ISO2022 from Nov 2022 ending with full implementation by the end of 2025. Why banks are moving to ISO 20022? Financial institutions are increasingly adopting ISO 20022 With structure and dedicated fields for payment details, the formatting standard creates communication efficiency. Rather than managing multiple market systems that speak different languages, ISO 20022 offers a universal messaging language.

Agree with everything you say. Im not on the BTC boat though. I dont see any utility in it and maybe the best gains have already been had but thats just my opinion. XRP has the ability to be a real game changer and maybe after this lawsuit finishes we will see some serious adoption. This interview clip sums it up nicely

But then the real solution here is just to have all banks “use the same system” Yes i believe moving to one system is the future. It Doesnt matter what the currency is its what is behind it! Euro banks moving to each other is obvious as the currency is the same. Why would it not be instant? Now BRICS are recruiting new countries and they are circumnavigating swift with their own system. An old institution that connected the World in payments will need to adapt. Looks like the iso20022 messaging system will assist in that. A few cryptos out there have alleged partnerships. “we can already do it with blockchain”, but really, we cannot, we have to go through multiple third parties and end up paying lots of fees Who are the multiple parties? and what fees are you paying? I have money in my bank and i send it to my exchange. I then buy crypto (fees depend on exchange) and then i send it to my ledger. Unless your buying BTC or any ETH coins then transfer fees are almost nothing. Also most blockchain is open source so anybody with some knowledge can make something on it. Regulations are coming for sure. I still think something worse is lurking out there for the market in general!

Yes agreed. Your most interesting statement: Crypto, compared to what we already have, is a giant step back, and no, it’s not because we are still early. Crypto has to solve problems that money with central authorities does not have to solve, and the price for solving them is high There are many situations that blockchain/crypto can solve and is definitely not a step back in. Two that come to mind are. One is finance. The current swift system is archaic and there are payment systems like wise or xe but none of these solve the issue with moving huge amounts of money like swift or cips which need nostro/vostro accounts to cover the payments. Another is logistics where blockchain can reduce bureaucracy and paperwork. Actually almost all sectors can be improved with blockchain.

I dont believe it replaces fiat. CBDC's are coming. People get scared about this but it doesnt have to be like China. Its like all technology...it can be used for good or bad. The most worrying thing is being switched off but even if physical money was obsolete we would find a way to trade with each other. Decentralized currency isnt a issue, its who you choose to be the custodian. Always store your stuff on a cold wallet. Remember that banks arent clean either (2008). They basically take your money and invest it. If everyone went and tried to take their money from their banks we would see its not there just like these crypto exchanges.

Yes this is all part of the process. The space has been built on a foundation of sand. I feel there is much more pain to come. Then in steps regulations and most crypto goes away. Invest wisely!

Because the first shift will happen in banking. The petro dollar game is almost up. With a new financial system comes a massive transfer of wealth. Mega wealthy dont want anybody else being wealthy....they just want more! I feel there is a whole lot of pain still to come though. DYOR and buy some coins.....stick it on a ledger and come back in 3 years!

Its all part of the plan! We are on the precipice of adoption of blockchain and they want as much people out as possible. Nobody in their right mind would be investing now but as they say "He who dares wins"

Must have some excess vaccines that need to be used

Probably ok with the smell of stale beer and cheap perfume around Sukhumvit though!

Best to know the laws before you start correcting others Medical use, with patients requiring a prescription, has been made legal since 2018. Since 2022, the Thai Food and Drug Administration officially removed cannabis plant from the Category 5 narcotics list. Possession, cultivation, distribution, consumption, and sales of all cannabis plant parts are legal.

No thanks. ETH gas fees are a joke. Thankfully there are a new gen of crypto that has solved all BTC and ETH shortcomings!

True but you dont think banks do the same thing? Remember the 2008 crisis? People in Lebanon now robbing their own banks to get their own money. Imo this crypto purge is to destroy the exchanges and hand the technology over to government custodians.

Interesting thread. The op has some balls spending 200k on bitcoin. All these bad players in the crypto space will usher in regulations and most cryptos will dissappear. There are a handful of cryptos will real world utility and I think they will be at the forefront in the next bull run. My thoughts in BTC and also ETH is what makes them different to any other technology that was the first on the scene like VHS was to watching movies or tapes were to listening to music. Newer, faster and all round better technology comes to the front and makes them obsolete. I don't think most people really understand where this technology does or where it's going but it will literally affect every part of our lives. Hopefully for the op Bitcoin has a part to play.

You won't even be able to get off the pier without somebody shouting "Where you go? taxi, minibus"

Finally some decent looking bud!

Lot of the CBD stuff smells and taste great. Mix this with some cheaper Thai stuff and it gives a good result!

Same as every year then

Removing all restrictions and downgrading the virus yet pushing pfizer vaccines for 6 month to 5 year olds.........Amazing Thailand!

So that many people have had it but the new campaign is let's inject 6 month Olds to 5 yr olds

Anywhere 10k from the sea and 10k from a city. Holiday home in the mountains

A photo of a boat and some vague information. No photos inside? https://www.facebook.com/Samui-Cruise-109621371798282