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https://youtu.be/r9wZB3jRCCc?si=2z5cTTvX-XAG6kqe
>Same reason we tokenize everything else uh huh. >and much of the same reasons why public companies have "shares" that act as tokens of ownership. A tokenized commodity is not a share in a company. it is merely an IOU which is often oversold and not properly backed. One of the Last community's I would imagine that would embrace tokenization would be the Commodity's Crew. People buying XAG/XAU ETC almost always prefer physical custody as almost all the major banks have been fined for selling more IOU's than they have in physical product. in this case You're only able to redeem your IOU if you're able to accept 20,000 Lbs of U308 "In order to take physical delivery of the uranium, token holders will be required to meet strict regulatory requirements, and must hold a minimum of 20,000 $U tokens (representing 20,000 pounds of uranium) and be able to prove to Madison Metals that they are qualified under local laws and regulations to receive it." so again I ask, Why? You'd be blind trusting this random investment fund that was apparently funding the Coco Levy Fund Scam in the for most of the 70's and 80s.... https://en.wikipedia.org/wiki/Coco_Levy_Fund_scam >If you don't understand the benefits of tokenization at this point, maybe crypto isn't for you. lol, been in crypto since 2012, try again, next time do better.
Check the price of BTC to XAG (silver). Then check it to commodities other than silver.
I tried the QR and it brought up USD to BTC. I expected BTC to XAG, which I think would have been cooler. (Yes, I know, its a drop down and you can scroll to XAG to get the conversion, but still). People can hate and be tribal or whatever but regardless of where you put your money this is kind of a neat novelty.
You can take delivery with certain companies like XAG and aurus but you need to be careful thats for sure
Yeah it is poorly worded but it is technically accurate. With companies like XAG and Aurus you can buy, sell, transfer, and take delivery of physically vaulted, audited, and deliverable gold, silver, and platinum globally via the blockchain through a network of vaults throughout the world.
XMR, probably some others. The idea is this https://en.m.wikipedia.org/wiki/ISO_4217 >In addition to codes for most active national currencies ISO 4217 provides codes for "supranational" currencies, procedural purposes, and several things which are "similar to" currencies: > Codes for the precious metals gold (XAU), silver (XAG), palladium (XPD), and platinum (XPT) are formed by prefixing the element's chemical symbol with the letter "X". These "currency units" are denominated as one troy ounce of the specified metal as opposed to "USD 1" or "EUR 1".
That's pretty cool. I guess like gold is XAU and silver is XAG on currency exchanges. Nice lil nugget! Thanks.
They mean the same thing, in trading platforms traditionally commodities like gold they put an X at the front to differentiate between those and company shares. XAU = Gold (AU) XAG = Silver (Ag) XBT = Bitcoin. (BTC)
OK, wait a minute, hedge funds and banks are huge. They can't all have enought holdings or derivatives of GME, AMC, or even XAG for more than a few to get hurt by any action in these markets.
> No, You brought up that they own a lot of tokens as a reason for why XRP is centralized. Im disproving your nonsense because you dont understand what you're even talking about. Instead of reply to me with insults, why do you just address the facts. You have disproven nothing. Fact is that ripple the coin is centrally owned, over half of its supply is in control of one entity. no ripple splaining can get around that. > XRP isnt an agnostic coin. > >people. The object isnt what drives value into the system, Utility and usage So far there is nothing that justifies XRP, none of Ripple the company uses it. Who is using XRP when they announce these partnerships ? you should Stop talking about topics you clearly dont understand. > The only name XRP has had before XRP is XNS. (this was later changed to XRP once the Ripple protocol was finished) hence the RP in XRP. X referring to assets like XAU, XAG, which are geopolitically neutral and have no sovereign. I dunno I clearly remember a rebranding, I clearly remember it being listed on exchanges as ripple. I heard everyone talking about i as ripple. Your trying to do historical revisionism. Its dishonest. > it was incorrectly called Ripple. It wasnt because clearly there was one company that held, one company benefited from its rise, one company funded its devs. Everyone knew it as ripple because it was intertwined with the company that it made sense that it was called ripple. Just because there was some mental gymnastics about a community "donating" ripplecoin to the company called ripple, that doesnt mean there was ever an actual separation. Thats your opinion that Im making myself look like a fool. I'm just calling out your historical revisionism. > Because OTC sales fuel more clients to join the network, The reason why they are being sued by the sec is because they are offering securities, they sell ripplecoin like they sell a stock. > Provide evidence that it is centralized. The concentration of the amount of tokens in the hands of one entity is enough evidence > 2 things, 1 Link sources before quoting otherwise your just being a moron. after a search the First result is a FUD article by a guy who also wants to shut down Bitcoin.... So instead of answering this guys question you attack the person. My position on BTC is irrelevant to the fact that ripplecoin and ripple the company are basically one entity and its a centralized coin that half of the supply is controlled by one entity. > bridge asset / liquidity/payment solution. to bad its not being used for that and there are better technologies for that. Dont get so butt hurt that you support such a centralized coin.
>Then why do you even bring it up ? You brought it up that those coins could be voted out as some reason as to why ripple isnt centralized. No, You brought up that they own a lot of tokens as a reason for why XRP is centralized. Im disproving your nonsense because you dont understand what you're even talking about. >XRP isnt an agnostic coin. Yes it is, every coin/token is Agnostic. Guns dont kill people, people kill people. The object isnt what drives value into the system, Utility and usage is. to argue that if everyone did nothing in order to increase the value of the object is absurd. Stop talking about topics you clearly dont understand. >Its name was only changed from Ripple to XRP recently to shake off sec securities issues. The only name XRP has had before XRP is XNS. (this was later changed to XRP once the Ripple protocol was finished) hence the RP in XRP. X referring to assets like XAU, XAG, which are geopolitically neutral and have no sovereign. https://github.com/ripple/rippled/commit/f0e3383856a8923e55b0f10e7822de9031b7159e The asset on the ledger, in your wallet, on the exchange, was always and has always been XRP. The name correction was pushed by the community (not Ripple) another example of how they dont control it. Anyone calling it "Ripple" was just simply incorrect. To say that Tech company's have a Good history of reasonable naming conventions would be a lie, for example. Red hat makers of Red hat, Oracle makers of oracle, Linux foundation founders of linux... and so on. >I have been around since 2013 and the token was called Ripple. it was incorrectly called Ripple. but if you bought it on an exchange or withdrew it, you didnt send "ripple" because that doesnt exsist and never did, you sent XRP. >Ripple uses XRP to buy collaborators, paying early partners to try out technology isn’t in and of itself dishonest – after all, PayPal did something similar. However, while PayPal built a working payments infrastructure, it’s not clear that Ripple’s technology is a viable alternative to traditional payment mechanisms like Swift, or whether it can deliver on its promises at all. Please google what a contra expense is or take a few business classes, you're making yourself look like a fool right now. Also, https://dailyhodl.com/2020/10/24/xrp-moving-10-of-remittances-from-us-to-mexico-says-founder-of-crypto-exchange-bitso/ 10% of every USD/MXN remittance payment in the world was done via XRP. The system works and delivers. (that number was 4% the year prior and 1% the year prior to that) >but why do the sell so much XRP then, why do they need to do that ? Because OTC sales fuel more clients to join the network, THey've been posting quarterly updates since 2015ish on their sales. its all public, do yourself a favour. Look at the last 40 months in a row(since the escrow started), that's 40 Escrow releases of 1 Billion XRP to Ripple. Care to guess how much was sold and how much was put back into Escrow? Heres some fun math for you, if you look at newly mined BTC over the last 40 months vs the 40 Billion of XRP as a % of total supply. Which is more inflation, the Ripple sales or newly mined BTC (here's a hint, its BTC) and what do the BTC miners do with their profits? Fund development? how about pay for improvements to the system? NOPE, they buy more hashrate/infrastructure to increase their control over the network. >you are like GW who kept saying that there were chemical weapons in IRAK, if you repeat the same lie over and over maybe some people will start to believe it. Provide evidence that it is centralized. show me the validators that Ripple controls having more than 80% control of the network (because a supermajority of 80% is required for "control"). Ripple operates 4.9% right now. for the like 5th time, you dont know what you're talking about. https://xrpcharts.ripple.com/#/validators >They tried anyways after a generous offer from Rippple. of course ripple announces these "partnerships" so that they can then dump XRP on retail. Contra expense, and total XRP sold is less than newly mined BTC so again, you not knowing what you're talking about. >“I have a tough time understanding, even if a lot of banks use Ripple to move billions of dollars, why does that increase the value of XRP?” wonders Timothy Enneking, managing director of Digital Capital Management. 2 things, 1 Link sources before quoting otherwise your just being a moron. after a search the First result is a FUD article by a guy who also wants to shut down Bitcoin.... yeah, maybe dont pick the guy who also thinks your prefered project should be "shut down" or that it would even be possible to "shut it down" lol... The guy you're quoting also wants to "shutdown Bitcoin" https://www.forbes.com/sites/jasonbloomberg/2018/03/10/we-need-to-shut-bitcoin-and-all-other-cryptocurrencies-down-heres-why/?sh=146236e91bca >so if Ripple develops software that banks use for fast global financial settlements, what is really the raison d'être for XRP ? bridge asset / liquidity. Current banking systems require Nostro/vostro, are slow and costly to use. XRP removes the need to prefund your accounts for intertional transfers, Turning dormant nostro/vostro accounts into working capital. > for ripple the company almost all of its current value comes from being the creator and majority holder of XRP... Ripple did not create XRP, the token existed before Onecoin (the original name of Ripple) even existed.
XBT legitimizes it to the masses. X__ is the format used on exchanges. Gold is XAU. Silver is XAG. Bitcoin is XBT.
Silver Spot is around 24.90 this morning! on some platform the symbol is XAG, its the cash price of a silver ounce
The best I can give you is from march 1st - Total Debt Pool (In ℓUSD value) : 19,597,371. However, you lock 5x Lina (in USD terms) to generate that debt. And then there's locked funds in the actual exchange that bet on the synths. On the 1st of march: ℓUSD: 11,126,475 (56.78%) ℓBNB: 2,333,410(11.91%) ℓADA: 2,190,675 (11.18%) ℓETH: 1,058,925 (5.40%) ℓDOT: 862,436(4.40%) ℓYFI: 669,486 (3.42%) ℓBTC: 630,105 (3.22%) ℓLINK: 538,385 (2.75%) ℓXLM: 76,761 (0.39%) ℓTRX: 49,327 (0.25%) ℓXAG: 31,153 (0.16%) ℓXAU: 30,233 (0.15%)
$XBT is just the formal symbol for BTC since Bitcoin is viewed as a commodity. Commodities begin with X like gold is $XAU,silver is $XAG.The X means it does not belong to just one country, it is universal. The fact that it now even has its own symbol is also a strong argument to use if your bank is blocking deposits from or withdrawals to bitcoin exchanges.