Worth Everyone Watching - Transition to New Financial System

[Rinse & rePeat]

Great thoughts.

In my opinion, the stock market is no different than gambling at the casino.

As I said, at least with the stock market, as well as property, there is something physical backing it. Now we are going into let’s just not leave our house because that is risky, and we might get into a car accident or get caught in a random shooting, oh or better yet we better not stay home, because we could have a gas leak with an explosion or a plane might crash onto it. There risk everyday and all day even eating.

 

[Rinse & rePeat]

I just want to make sure that others that read this thread see all sides to the understanding of this.

Why?

 

[Velve921]

Why?

If the monetary system is going to continue evolving and play a significant part of our lives, I think it's wise from an education perspective for people to examine multiple sides to a perspective.

 

[Rinse & rePeat]

If the monetary system is going to continue evolving and play a significant part of our lives, I think it's wise from an education perspective for people to examine multiple sides to a perspective.

You really like this crypto, it seems.

 

[Delaney]

A diversified portfolio is right, but how is crypto not more like a pyramid scheme, when there is nothing solid backing it, no company, no gold, no nothing, nothing but the people who are pushing it saying it has value? Maybe eventually it will have value, but I can’t see that until they erase everything and start over, and it then represents something with value.

There's two points I want to highlight here.

Firstly, yeah. It's a catch-22 for something as seemingly non-existent as crypto, and was the biggest challenge that Bitcoin had to overcome. Without any backing or history, the only way it could work is to walk the talk, which Bitcoin certainly attempted, using clever tricks to create a finite supply. But now it has stagnated as a currency.

Which brings me to my second point: we're talking about a currency. A currency. Not some institution you invest in. And hardly a store of value. Sure, you can make some profit from buying and selling various currencies, but that's not why currencies were created.
People buying a currency only to hold onto it and never spend it is effectively taking money out of circulation. And that completely defeats the point of a currency. Bitcoin was never created to be an investment. It was just meant to be used like regular money, so clearly something went horribly wrong for the majority of people to believe that all cryptocurrencies are some sort of gold-like investment. Never mind a get-rich-quick scheme.

 

[Velve921]

You really like this crypto, it seems.

Actually, to be honest, I really don't like it. It's pushing our society into a place where people will have more challenges in physically holding their money.

And, digital money paves the way for CBDCs which I completely disagree with.

I am just more accepting of where society is going and my goal is to give people awareness.

Don't you worry, I am a gold, silver, and cash flowing real estate person, through and through.

 

[Rinse & rePeat]

There's two points I want to highlight here.

Firstly, yeah. It's a catch-22 for something as seemingly non-existent as crypto, and was the biggest challenge that Bitcoin had to overcome. Without any backing or history, the only way it could work is to walk the talk, which Bitcoin certainly attempted, using clever tricks to create a finite supply. But now it has stagnated as a currency.

Which brings me to my second point: we're talking about a currency. A currency. Not some institution you invest in. And hardly a store of value. Sure, you can make some profit from buying and selling various currencies, but that's not why currencies were created.
People buying a currency only to hold onto it and never spend it is effectively taking money out of circulation. And that completely defeats the point of a currency. Bitcoin was never created to be an investment. It was just meant to be used like regular money, so clearly something went horribly wrong for the majority of people to believe that all cryptocurrencies are some sort of gold-like investment. Never mind a get-rich-quick scheme.

How is crypto any different than bitcoin?

 

[Rinse & rePeat]

Actually, to be honest, I really don't like it. It's pushing our society into a place where people will have more challenges in physically holding their money.

And, digital money paves the way for CBDCs which I completely disagree with.

I am just more accepting of where society is going and my goal is to give people awareness.

Don't you worry, I am a gold, silver, and cash flowing real estate person, through and through.

Ha! Ha! Ha! Oh good, I’ll rest easy now! That was a good one!

 

[Delaney]

How is crypto any different than bitcoin?

They... arent?

 

[Velve921]

Ha! Ha! Ha! Oh good, I’ll rest easy now! That was a good one!

If I can help any individual find better sleep, I will certainly do so.

 

[Rinse & rePeat]

They... arent?

Exactly.

 

[Delaney]

Exactly.

I don't understand what you're saying

 

[Velve921]

How is crypto any different than bitcoin?

Bitcoin is run by Proof of Work mining and there is no company that manages or oversees Bitcoin.

Bitcoin is not designed with Utility or solving a problem with the exception as a store of value.

A Proof of Stake or Consensus Crypto is created by a company, such as XRP.

XRP is solving a problem with its transaction time (3-5 seconds).

For example, and this is a very large utility purpose as to why crypto is providing value. Let's say you are from the US and traveling to Europe; and once you are in Europe you lose your wallet and need money sent to a European bank from the US. With the system now, It could take 1-3 days and have high fees. With crypto such as XRP, you could have your money sent to you in 3-5 seconds (Be settled) and it may only cost $.00001.

 

[Rinse & rePeat]

Bitcoin is run by Proof of Work mining and there is no company that manages or oversees Bitcoin.

Bitcoin is not designed with Utility or solving a problem with the exception as a store of value.

A Proof of Stake or Consensus Crypto is created by a company, such as XRP.

XRP is solving a problem with its transaction time (3-5 seconds).

For example, and this is a very large utility purpose as to why crypto is providing value. Let's say you are from the US and traveling to Europe; and once you are in Europe you lose your wallet and need money sent to a European bank from the US. With the system now, It could take 1-3 days and have high fees. With crypto such as XRP, you could have your money sent to you in 3-5 seconds (Be settled) and it may only cost $.00001.

I understand perfectly the convenience of having it as a traveler, to use it for the exact amount it is worth when you buy it, like holding a dollar. I am just not thinking that one day, after I put that dollar in my pocket, I might find seven of them. As a business person having some for convenience sake has it’s purpose, for trading. I can also see why there would be a push to get people to buy it, to get rid of the dolla, I can’t see it being something that could truely turn into something more valuable, when you are just buying some words on paper that you gave them a dollar.

 

[Velve921]

I understand perfectly the convenience of having it as a traveler, to use it for the exact amount it is worth when you buy it, like holding a dollar. I am just not thinking that one day, after I put that dollar in my pocket, I might find seven of them. As a business person having some for convenience sake has it’s purpose, for trading. I can also see why there would be a push to get people to buy it, to get rid of the dolla, I can’t see it being something that could truely turn into something more valuable, when you are just buying some words on paper that you gave them a dollar.

I see what you are saying from your perspective.

The world we live in values speed and saving money.

Big banks and institutions will look at this as a high priority because they will save billions of dollars when transacting money around the world.

For example, the Bank of England transacts almost a trillion dollars a day on some occasions, therefore, with using crypto they will save billions and that is value to them.

For an everyday person that wants to send money to their friend through something like Venmo, it can take 1-3 days for the money to clear, unless, they pay a big fee to push it faster which most people do not want to pay.

If a person pays for something at the grocery store with a card, the transaction is not settled instantly with our current system. It takes the bank 1-3 days to clear.

Therefore, the world will find huge value in this because the vast majority of humans value speed, saving money, and making more money.

 

[Rinse & rePeat]

I see what you are saying from your perspective.

The world we live in values speed and saving money.

Big banks and institutions will look at this as a high priority because they will save billions of dollars when transacting money around the world.

For example, the Bank of England transacts almost a trillion dollars a day on some occasions, therefore, with using crypto they will save billions and that is value to them.

For an everyday person that wants to send money to their friend through something like Venmo, it can take 1-3 days for the money to clear, unless, they pay a big fee to push it faster which most people do not want to pay.

If a person pays for something at the grocery store with a card, the transaction is not settled instantly with our current system. It takes the bank 1-3 days to clear.

Therefore, the world will find huge value in this because the vast majority of humans value speed, saving money, and making more money.

Exactly, it is a convenience, not a big money maker. One day the paper in our hand won’t get us anything, so trading the dollar for something is something to think about for sure. Saving a dollar is better than losing a dollar, but I don’t think crypto is going to gain any value, like the bit coin scheme, and I do think it is risky until the the world debt gets wiped out or collapses countries and their assets are confinscated and they conform to communism. I think the hole is just too deep for the US, and the Piper has to be paid somehow.

 

[Velve921]

Exactly, it is a convenience, not a big money maker. One day the paper in our hand won’t get us anything, so trading the dollar for something is something to think about for sure. Saving a dollar is better than losing a dollar, but I don’t think crypto is going to gain any value, like the bit coin scheme, and I do think it is risky until the the world debt gets wiped out or collapses countries and their assets are confinscated and they conform to communism. I think the hole is just too deep for the US, and the Piper has to be paid somehow.

I find what you say intriguing.

So from your perspective, institutions saving billions of dollars is not a money maker?

Payment processing systems are partnering with crypto companies, including paypal. Therefore, crypto (blockchain technology) is becoming one of the largest industries in the world.

I would recommend you do more research on crypto and big business such as the banking system. I really think you will be surprised at how much further along the world is than the media is demonstrating.

For example. below are some of Ripple's partners.

 

[Rinse & rePeat]

So from your perspective, institutions saving billions of dollars is not a money maker?

Payment processing systems are partnering with crypto companies, including paypal. Therefore, crypto (blockchain technology) is becoming one of the largest industries in the world.

I would recommend you do more research on crypto and big business such as the banking system. I really think you will be surprised at how much further along the world is than the media is demonstrating.

For example. below are some of Ripple's partners.

View attachment 56039

I get what you are saying too, but until they decide which money the world is going to all agree on, every company out there right now is holding their arm up and waving it desperately saying, “Pick me! Pick me!” Look at that list you just posted, likely only one is going to win, and the rest go to where bitcoin went, into thin air where it came from, or maybe they will find a way to let everybody win, but with all the slyness in the financial institutions, I hardly thing their priority is to be to be fair to the people at bottom. Has it been that way yet? Justifying things is more their way.

 

[Velve921]

I get what you are saying too, but until they decide which money the world is going to all agree on, every company out there right now is holding their arm up and waving it desperately saying, “Pick me! Pick me!” Look at that list you just posted, likely only one is going to win, and the rest go to where bitcoin went, into thin air where it came from, or maybe they will find a way to let everybody win, but with all the slyness in the financial institutions, I hardly thing their priority is to be to be fair to the people at bottom. Has it been that way yet? Justifying things is more their priority.

I never said this was about being fair, I am talking about how the world works. Rich bankers will do whatever they can to make more money and save more money. That is why crypto is the future because it solves a problem that they have.

And again, I would recommend you do more research, none of those companies in that picture are crypto companies. All of them are current companies that have already partnered with Ripple. So that means that all of the enormous banks and institutions in that picture are committed to using blockchain technology.

 

[Rinse & rePeat]

I never said this was about being fair, I am talking about how the world works. Rich bankers will do whatever they can to make more money and save more money. That is why crypto is the future because it solves a problem that they have.

And again, I would recommend you do more research, none of those companies in that picture are crypto companies. All of them are current companies that have already partnered with Ripple. So that means that all of the enormous banks and institutions in that picture are committed to using blockchain technology.

Gotcha. When I say “little people” I mean me at the bottom buying in. The people at the top of pyramid schemes are the only ones that make money. I’m not interested in crypto, no matter how much we go back and forth. I have turned $15 dollars into $1700 at the horse races and $2 into $1200 in Keno a couple of times, and am only ahead having a little fun. Those are better odds for me and I don’t have to hold my breath for however long hoping to make as much as seven times more, getting on the financial roller coaster of the world. Fortunately I am not a gambler, but when I find myself in those situation, having to be there, I have a method for the madness and I do well for myself, in those precarious situations.