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You are all much smarter than I. Please continue.
Yep, absolutely agree. Plenty of research points out the diminishing returns money brings in relation to happiness once you reach a certain point. A point that is actually surprisingly attainable (in Sydney, that point is actually less than the average wage - but 'happiness' is certainly not the average frame of mind) My view is that financial freedom buys you the freedom to pursue your passions / purpose and gives you the luxury of behaving in a way that is most true to yourself / amplifies your traits. If you lack a passion / purpose that drives you when financially restricted - removing that restriction isn't going to fix that, just as the amplification of who you are due to financial freedom, might not be something that those around you would enjoy. *EDIT* Getting off track. Back to Bob, sorry!
Whilst 99% of this goes over my head (at least from a financial perspective) I've gotta say it's both a fascinating and rewarding read. Chunky answers to chunky questions, but I think what intrigues me most is the motivations of the Bobways and the Joelkatz of this world. Whilst one of the major biproducts of any of this pioneering work coming off in the long run is significant (silly) wealth, it seems not to be the driver for those at the heart of it. Let's face it, it is for most of us here, and I don't mean that disrespectfully, just that we are part of the 99.9% of the human race that are driven by greed because, well, we're human. Reading this lot answering questions and chatting with each other, it feels like those that stand to gain the most from it's success ACTUALLY care the least about the financial benefits. That they're in fact just interested in impactful change and leaving the world a little different to how they found it. Passionate and pioneering nerds. Utterly in contrast to how the maximalist crypto world views those associated with XRP / Ripple. Carry on gentlemen.
Quoting this to A. Say thanks to @BobWay because this has been a fantastic read thus far and B. Say hello and thanks to @Hodor who is actually the person responsible for my investing in XRP. Your informative posts (back before your blog / when you used to post here primarily) are actually the reason I initially invested in XRP back in the middle of 2017. Much love to you both.
Your time frames are that of a gambler, not an investor. Best of luck.
Wots up in dis fred?
I am. Well, I am doing my best to ?
You are quantifiably wrong sorry champ. Tracking your value against BTC, whilst relevant at times, is flawed. Ultimately we want coins moving independently of market and independently of BTC and we also believe that BTC won't be the dominant crypto forever, so the important values in the long run should be 1. How many of your particular coin do you have and 2. How much are they worth in the currency you intend on cashing out to. Your view is meaningful now, but not in the long term.
Y'all need to stop thinking Brad and XRP and your expectations are the center of the universe. It's not manipulation, it's a financial broadcast that had to live cross to discuss important breaking financial news. It's literally the whole point of live news. I'm heavily invested in XRP and was looking forward to listening to what Brad had to say (particularly regarding the Coinbase manipulation comment which, though it wasn't directed at XRP, the implication was there) BUT, other news was more important and that's that. Big players aren't trying to stiff you out of your money and if they are, they're far more subtle that what you're all making them out to be.
Could it be a catch 22?
I'm fairly sure most banks are beholden to legislation that prevents them from investing in assets deemed as too speculative/volatile? (though the definition of speculative and volatile isn't clear) as banks are essentially investing their customer's funds which customers have put into a bank and not an institute of investment. Other FIs (investment firms etc) aren't prohibited from such endeavours as their customers are knowingly committing their funds to the endeavor of investment and have a choice in distribution of funds across risk categories. I'm guessing though, but in my head, it sounds right?
Correct me if I'm wrong, but banks won't ever buy XRP will they? - aren't they essentially not allowed to?. They can use it (eg. to perform a xborder transaction) but they're not able to buy to hold with intent to make profit? It's the market makers and those that facilitate hedging services for banks against volatility that will purchase XRP?