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Market Musing-g
Japan's Central Bank Officially Announces Every Bank in Japan Will Adopt XRP by 2025
By Crypto News Flash Created 7 days ago, last updated 6 days ago
https://timestabloid.com/xrp-adoption-boosted-as-159-nations-set-to-adopt-brics-new-payment-system/Quote:
Crypto News: Banks in Japan to Adopt $XRP by 2025, SBI CEO Says
By Lora Pance Crypto & Tech Content Writer
Updated: August 22, 2024 | 2:41 AM
- The Strategic Business Innovator Group (SBI) plans to integrate $XRP, the native token of the Ripple ecosystem, into Japan's mainstream financial system by 2025.
- Consumers paying in $XRP will earn cashback in CryptoTradingFund ($CTF) tokens.
- Throughout the years, Ripple has forged partnerships with banks and major financial industry players on every continent.
$XRP Goes Mainstream in Japan
In 2025, Japanese bank customers will be able to pay in $XRP at a wide range of online and offline merchants.
As one of the world's leading financial services firms headquartered in Japan, SBI is a major contributor to the integration of $XRP payments.
Recently, Yo****aka Kitao shared his plan to launch the SBI VCTrade platform for $XRP on-ramp purchases using the Japanese Yen. ......
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CryptocurrencyNews
XRP Adoption Boosted As 159 Nations Set to Adopt BRICS New Payment System
By Adedoyin Aka August 19, 2024
Recall that the BRICS alliance consisting of Brazil, Russia, India, China, and South Africa- in a significant push for financial sovereignty, is pioneering an autonomous payment system, intending to diminish dependence on the U.S. dollar.......
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Home News Finance News
Crypto: Is XRP Taking Over the World?
Sat 24 Aug 2024 by Luc Jose A.
In a context where regulatory uncertainty in the United States threatens to hinder the rise of cryptocurrencies, XRP, the token developed by Ripple, continues to assert its presence on the international stage. The rapid expansion of XRP, supported by strategic partnerships and growing adoption, demonstrates Ripple's resilience in the face of legal challenges, as well as the maturity of blockchain technology in the field of cross-border payments.
Ripple asserts itself across all continents......
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Once investors have decided to invest in digital assets, the next question becomes, "Which one?" Of course, bitcoin is the most recognized, first-ever digital asset, but there are hundredseven thousands of other digital assets in the ecosystem.
One of the first concerns investors have regarding bitcoin is, as the first digital asset, it may be vulnerable to innovative destruction from competitors (such as the story of MySpace and Facebook). Another common consideration surrounding bitcoin is whether it offers the same potential reward or upside as some of the newer and smaller digital assets that have emerged.
In this paper, we propose:
- Bitcoin is best understood as a monetary good and one of the primary investment theses for bitcoin is as the store of value asset in an increasingly digital world.
- Bitcoin is fundamentally different from any other digital asset. No other digital asset is likely to improve upon bitcoin as a monetary good because bitcoin is the most (relative to other digital assets) secure, decentralized, sound digital money and any "improvement" will potentially face trade-offs.
- There is not necessarily mutual exclusivity between the success of the Bitcoin network and all other digital asset networks. Rather, the rest of the digital asset ecosystem can fulfill different needs or solve other problems that bitcoin simply does not.
- Other non-bitcoin projects should be evaluated from a different perspective than bitcoin.
- Bitcoin should be considered an entry point for traditional allocators looking to gain exposure to digital assets.
- Investors should hold two distinctly separate frameworks for considering investment in this digital asset ecosystem. The first framework examines the inclusion of bitcoin as an emerging monetary good, and the second considers the addition of other digital assets that exhibit venture capital-like properties.
MRB10 said:
Layered Money
The Bitcoin Standard
I wouldn't leave much on an exchange. Hardware devices(aka cold storage) are the current gold standard.
Ledger and Trezor are both very beginner friendly and have good apps. There are others that are less user friendly that are arguably more secure you can look into down the road.
MRB10 said:
Do you want a physical gold or PHYS?
IBIT is an IOU with dollar redemption and Is fine if all you want is exposure to bitcoins price appreciation. However, you still have counterparty risk and only have true sovereignty when you own the coins on a key only you can access.
CEX storage. Part of the value of bitcoin is the liquidity with the US dollar as well, so still enjoying the benefits.MRB10 said:
Does "on chain storage" refer to storage on a CEX or other hot wallet?
You can start by just realizing a fair amount of people over time just lose track of their wallets, keys, and therefore all of their crypto. People die and leave no trace of it. There was a thread on here last week with the guy losing track of his wallet. Happens all the time.MRB10 said:
You're saying you're OK giving Coinbase the ability to dictate how quickly you can withdraw, censor which addresses you can send to, and trust that they're fully reserved? That's a HARD pass for me.
The issues people have discussed online, when it comes to hardware wallets, pale in comparison. Also, show me the last time a Ledger, Coldcard, or Trezor "vulnerability" resulted in a large number of their customers losing their Bitcoin. I'll wait.
TxAG#2011 said:You can start by just realizing a fair amount of people over time just lose track of their wallets, keys, and therefore all of their crypto. People die and leave no trace of it. There was a thread on here last week with the guy losing track of his wallet. Happens all the time. A person being unorganized is not a vulnerability of the asset or a hardware device. A small amount of effort goes a long way.MRB10 said:
You're saying you're OK giving Coinbase the ability to dictate how quickly you can withdraw, censor which addresses you can send to, and trust that they're fully reserved? That's a HARD pass for me.
The issues people have discussed online, when it comes to hardware wallets, pale in comparison. Also, show me the last time a Ledger, Coldcard, or Trezor "vulnerability" resulted in a large number of their customers losing their Bitcoin. I'll wait.
Then there is security of the keys themselves. You have to write it down, put it somewhere right? That is a significant security vulnerability. Yes, but you'll need to do this with your Coinbase/other hot wallet too. This isn't unique to cold storage or hardware devices.
Then there are just untold instances of people sending crypto to and from the wrong address. Also happens all the time. This is not unique to cold storage or hardware devices. A user can just as easily send Bitcoin to the wrong address from Coinbase as they can from Ledger Live. A small amount of effort goes a long way.
These three things alone are the reason 99% of people in 1st world countries should be using on-chain storage. See above. None of those three support your claim.
Specifically to ledger/trezor whatever, I own one and they had a data breach and everyone that bought one got hit with phishing attacks. There was an attack years ago people manage to spoof the user interface into sending to the wrong address. People buying wallets that already been compromised, etc. I own two ledgers and received no phishing emails/texts. Regardless, let's not pretend that cyber breaches are unique to Bitcoin companies. More traditional finance companies I have accounts with have been hacked than Bitcoin companies.
The user interface issue was from a bad actor creating a fake website with a compromised download link. No one who updates LL from Ledger was impacted. Again, this can happen with any software download and is not unique to hardware devices. A little effort can go a long way.
7 years ago I'd agree with you but present day, no way.
TTUArmy said:
What would crypto investors/users say are some of the biggest sticking points or obstacles for large scale adoption by the general public?
I'm aware it's been around awhile. And, I was really taken by the idea of currencies operating outside of the prying eyes of government. Will admit that I even dabbled in it myself to be familiar with the functionality. The complexity in learning curve is certainly there for new users.
When BTC was turned into, what I would consider, a hedge tool by large institutions, I didn't rejoice like many others. I'm a physical precious metals investor, so I understand all too well the manipulation angle.
So, what would you guys say keeps more people from buying in to crypto?
i find people who haven't jumped in yet generally fall into at least one of four categoriesTTUArmy said:
What would crypto investors/users say are some of the biggest sticking points or obstacles for large scale adoption by the general public?
I'm aware it's been around awhile. And, I was really taken by the idea of currencies operating outside of the prying eyes of government. Will admit that I even dabbled in it myself to be familiar with the functionality. The complexity in learning curve is certainly there for new users.
When BTC was turned into, what I would consider, a hedge tool by large institutions, I didn't rejoice like many others. I'm a physical precious metals investor, so I understand all too well the manipulation angle.
So, what would you guys say keeps more people from buying in to crypto?
Is there any more inefficient method of doing this than how bitcoin does it?ac04 said:i find people who haven't jumped in yet generally fall into at least one of four categoriesTTUArmy said:
What would crypto investors/users say are some of the biggest sticking points or obstacles for large scale adoption by the general public?
I'm aware it's been around awhile. And, I was really taken by the idea of currencies operating outside of the prying eyes of government. Will admit that I even dabbled in it myself to be familiar with the functionality. The complexity in learning curve is certainly there for new users.
When BTC was turned into, what I would consider, a hedge tool by large institutions, I didn't rejoice like many others. I'm a physical precious metals investor, so I understand all too well the manipulation angle.
So, what would you guys say keeps more people from buying in to crypto?
1) statists who believe that only governments can create money
2) people who believe what the TV tells them RE: boiling the oceans, use by criminals, bitcoin getting "hacked" etc.
3) people who haven't yet figured out that fiat is broken because they're doing ok
4) people who are bitter that they didn't buy bitcoin when they first heard about it and aren't humble enough to correct their mistake
sadly the vast majority of the general population is not intellectually curious at all, so few are willing to put in the work to understand what bitcoin is and why its important. if it can't be explained to them in a 30 second tiktok they're out.
correct, bitcoin is a bearer instrument. just like gold and cash. very good.eric76 said:
With a bank website, if I lost my password, I can go to the bank and change it.
If I had bitcoin and lost my password, I would lose all my money.
