Viewing a response to: @jrcornel/re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-mtl1979-re-edicted-re-jrcornel-bitcoin-appears-to-be-flagging-20190220t193042615z
A stable coin, in effect, is still controlled by the Federal Reserve. A stable coin is just an extension of USD. There is nothing stopping a cryptocurrency from issuing similar monetary policy compared to fiat and issuing their own "stable coin" that isn't pegged to anything but its own monetary policy. Nothing about USD is intrinsically better than cryptocurrency. When it really comes down to it, XRP and JPM are controlled centrally, fully negating their long-term value. Why would anyone use these services when they can just use a decentralized stable coin like Dai? Dai can't be regulated. Accounts can't be haircut or shut down or denied access. When shit hits the fan all these centralized projects will reveal their worthlessness. Why get a loan from the bank when you can give a loan to yourself at 0.5% interest? But now I'm just being uber bullish on Maker again. Back to the main question. No, a stable coin isn't better at being transferred, it's just better at being stable, assuming USD will remain stable, which I don't assume at all.
| post_id | 70,418,630 |
|---|---|
| author | edicted |
| permlink | re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-mtl1979-re-edicted-re-jrcornel-bitcoin-appears-to-be-flagging-20190220t200256361z |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin"],"app":"steemit\/0.1"} |
| created | 2019-02-20 20:02:57 |
| last_update | 2019-02-20 20:02:57 |
| depth | 8 |
| children | 5 |
| net_rshares | 113,764,959,207 |
| last_payout | 2019-02-27 20:02:57 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.044 SBD |
| curator_payout_value | 0.014 SBD |
| pending_payout_value | 0.000 SBD |
| promoted | 0.000 SBD |
| body_length | 1,067 |
| author_reputation | 171,132,830,416,177 |
| root_title | "Bitcoin appears to be Flagging" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 10,000 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| berniesanders | 0 | -9,683,314,737 | -0.9% | ||
| steemittroll | 0 | -49,889,169,895 | -99.55% | ||
| delso | 0 | 46,290,309,026 | 0.9% | ||
| z8teyb289qav9z | 0 | -40,420,719,732 | -0.9% | ||
| flagthedonkey | 0 | 40,951,666,953 | 99.55% | ||
| dudubrown | 0 | -41,453,814,993 | -32.83% | ||
| proboards1 | 0 | 127,015,705,694 | 25.58% |
It has a decent track record of being stable, especially compared to crypto. If I am moving millions or billions of dollars, I don't want to take on the risk of any volatility in whatever I am using to transfer said funds, ya know? I foresee most banks doing what JPM did, then eventually one system will be used predominately within the banking sector. Though using one with a coin that is volatile probably isn't appealing to most?
| post_id | 70,418,857 |
|---|---|
| author | jrcornel |
| permlink | re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-mtl1979-re-edicted-re-jrcornel-bitcoin-appears-to-be-flagging-20190220t201301003z |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin"],"app":"steemit\/0.1"} |
| created | 2019-02-20 20:13:00 |
| last_update | 2019-02-20 20:13:00 |
| depth | 9 |
| children | 4 |
| net_rshares | 1,856,921,745,975 |
| last_payout | 2019-02-27 20:13:00 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.738 SBD |
| curator_payout_value | 0.218 SBD |
| pending_payout_value | 0.000 SBD |
| promoted | 0.000 SBD |
| body_length | 435 |
| author_reputation | 3,734,411,933,886,980 |
| root_title | "Bitcoin appears to be Flagging" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 10,000 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| jrcornel | 0 | 1,754,441,209,916 | 100% | ||
| jondoe | 0 | 15,296,301,848 | 100% | ||
| mtl1979 | 0 | 509,070,637 | 100% | ||
| safetony | 0 | 1,122,423,488 | 100% | ||
| edicted | 0 | 75,031,347,632 | 25% | ||
| corndog54 | 0 | 10,521,392,454 | 100% |
I won't lie. I've been talking about how XRP doesn't make any sense for a while now. >"Why wouldn't the banks just make their own coin?" It seemed too obvious, and now people are only talking about it when JPM comes to town? It seems like a severe lack of foresight. At the same time, nothing stops XRP from creating a stable coin backed by XRP, assuming that is even necessary. The ease at which these assets can be traded means you can use XRP to transfer funds but still be immune to volatility.
| post_id | 70,419,183 |
|---|---|
| author | edicted |
| permlink | re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-mtl1979-re-edicted-re-jrcornel-bitcoin-appears-to-be-flagging-20190220t202619859z |
| category | bitcoin |
| json_metadata | {"community":"busy","app":"busy\/2.5.6","format":"markdown","tags":["bitcoin"],"users":[],"links":[]} |
| created | 2019-02-20 20:26:21 |
| last_update | 2019-02-20 20:26:21 |
| depth | 10 |
| children | 1 |
| net_rshares | 71,219,215,162 |
| last_payout | 2019-02-27 20:26:21 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.028 SBD |
| curator_payout_value | 0.008 SBD |
| pending_payout_value | 0.000 SBD |
| promoted | 0.000 SBD |
| body_length | 507 |
| author_reputation | 171,132,830,416,177 |
| root_title | "Bitcoin appears to be Flagging" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 10,000 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| berniesanders | 0 | -103,737,630,433 | -9.55% | ||
| delso | 0 | 491,765,902,858 | 9.55% | ||
| z8teyb289qav9z | 0 | -430,662,290,404 | -9.55% | ||
| cryptophobia | 0 | -108,467,602,513 | -86.34% | ||
| dramaking | 0 | 1,284,706,238 | 100% | ||
| proboards3 | 0 | 122,174,941,206 | 24.71% | ||
| proboards1 | 0 | 108,782,886,042 | 21.91% |
Yea I think their best chance was to entrench themselves so deeply in the financial system before any of the other banks jumped in that it just made more sense to use their product. JPM moved a lot faster than most would have guessed.
| post_id | 70,420,202 |
|---|---|
| author | jrcornel |
| permlink | re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-mtl1979-re-edicted-re-jrcornel-bitcoin-appears-to-be-flagging-20190220t210419808z |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin"],"app":"steemit\/0.1"} |
| created | 2019-02-20 21:04:21 |
| last_update | 2019-02-20 21:04:21 |
| depth | 11 |
| children | 0 |
| net_rshares | 1,554,413,674,295 |
| last_payout | 2019-02-27 21:04:21 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.618 SBD |
| curator_payout_value | 0.199 SBD |
| pending_payout_value | 0.000 SBD |
| promoted | 0.000 SBD |
| body_length | 234 |
| author_reputation | 3,734,411,933,886,980 |
| root_title | "Bitcoin appears to be Flagging" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 0 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| jrcornel | 0 | 1,523,449,111,161 | 100% | ||
| elviento | 0 | 1,647,774,670 | 2% | ||
| jadabug | 0 | 1,359,659,094 | 1% | ||
| jondoe | 0 | 13,275,052,234 | 100% | ||
| mtl1979 | 0 | 497,905,367 | 100% | ||
| safetony | 0 | 1,026,099,985 | 100% | ||
| corndog54 | 0 | 12,126,144,994 | 100% | ||
| ezravandi | 0 | 1,031,926,790 | 1% |
>It has a decent track record of being stable, Unfortunately, it has zero track record of being stable during a recession in which crypto exists. This is the only track record that matters, and there is none. We are entering uncharted territory. We can't look to the past for answers. I use this same logic in a lot of my posts. Crypto is not comparable to [dot com](https://steemit.com/bubble/@edicted/ridiculous-dot-com-bubble-comparison) or corporate entities. The Halo Effect and projection of the past into the future is now our enemy.
| post_id | 70,419,735 |
|---|---|
| author | edicted |
| permlink | re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-mtl1979-re-edicted-re-jrcornel-bitcoin-appears-to-be-flagging-20190220t204709914z |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin"],"links":["https:\/\/steemit.com\/bubble\/@edicted\/ridiculous-dot-com-bubble-comparison"],"app":"steemit\/0.1"} |
| created | 2019-02-20 20:47:12 |
| last_update | 2019-02-20 20:47:12 |
| depth | 10 |
| children | 1 |
| net_rshares | 67,401,063,295 |
| last_payout | 2019-02-27 20:47:12 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.026 SBD |
| curator_payout_value | 0.008 SBD |
| pending_payout_value | 0.000 SBD |
| promoted | 0.000 SBD |
| body_length | 548 |
| author_reputation | 171,132,830,416,177 |
| root_title | "Bitcoin appears to be Flagging" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 10,000 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| berniesanders | 0 | -9,684,278,810 | -0.9% | ||
| delso | 0 | 46,294,466,733 | 0.9% | ||
| z8teyb289qav9z | 0 | -40,424,247,823 | -0.9% | ||
| abusereports | 0 | -65,267,519,404 | -2.87% | ||
| kenyettachisholm | 0 | -46,422,414,462 | -36.97% | ||
| negativenelly | 0 | -93,759,436,475 | -74.22% | ||
| moniquegardner | 0 | -91,917,200,482 | -73.17% | ||
| catinabox | 0 | -41,163,990,953 | -32.79% | ||
| dudubrown | 0 | -46,655,491,069 | -36.95% | ||
| geraldbutler | 0 | -46,687,566,197 | -36.97% | ||
| cl4w | 0 | -90,799,974,546 | -72.29% | ||
| deadparrotband | 0 | -109,534,738,476 | -87.17% | ||
| anon.traveler | 0 | -90,003,855,818 | -71.65% | ||
| atalltree | 0 | -110,304,650,200 | -87.8% | ||
| cryptophobic | 0 | -46,398,153,144 | -36.95% | ||
| proboards | 0 | 94,508,204,629 | 19.99% | ||
| proboards2 | 0 | 110,609,571,767 | 22.38% | ||
| proboards1 | 0 | 46,094,020,611 | 9.29% | ||
| flagveterans | 0 | 46,089,720,722 | 28.72% | ||
| yourbotsucks | 0 | -104,111,350,720 | -19.98% |
Well if that is the case bitcoin and crypto would have to change how they have traded the last few years. If you look back at recent price action, bitcoin and crypto has traded very much like a risk-on asset. At the far right end of the spectrum at that. I am not saying you are wrong, but it would mean crypto would have to start trading much differently than they are now...
| post_id | 70,420,172 |
|---|---|
| author | jrcornel |
| permlink | re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-edicted-re-jrcornel-re-mtl1979-re-edicted-re-jrcornel-bitcoin-appears-to-be-flagging-20190220t210249753z |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin"],"app":"steemit\/0.1"} |
| created | 2019-02-20 21:02:51 |
| last_update | 2019-02-20 21:02:51 |
| depth | 11 |
| children | 0 |
| net_rshares | 1,585,482,251,215 |
| last_payout | 2019-02-27 21:02:51 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.630 SBD |
| curator_payout_value | 0.202 SBD |
| pending_payout_value | 0.000 SBD |
| promoted | 0.000 SBD |
| body_length | 376 |
| author_reputation | 3,734,411,933,886,980 |
| root_title | "Bitcoin appears to be Flagging" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 0 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| jrcornel | 0 | 1,554,477,521,119 | 100% | ||
| elviento | 0 | 1,648,050,026 | 2% | ||
| jadabug | 0 | 1,359,754,099 | 1% | ||
| jondoe | 0 | 13,546,535,045 | 100% | ||
| mtl1979 | 0 | 486,967,437 | 100% | ||
| safetony | 0 | 1,047,974,802 | 100% | ||
| corndog54 | 0 | 11,882,749,843 | 100% | ||
| ezravandi | 0 | 1,032,698,844 | 1% |