NO XRP Ripplenet for BRICS, Tether for Gov Payments, Coinbase + NU Bank Use Bitcoin Payment Rails

NO XRP Ripplenet for BRICS, Tether for Gov Payments, Coinbase + NU Bank Use Bitcoin Payment Rails

there’s one question on my mind as I read through this it should be on yours as well how much was Mario paid to put this lunatic post out and who paid him that’s what I want to [Music] know hey hey everybody it’s Eddie from Tokyo this is your cryptocurrency update from Japan and that was Jungle Inc in the intro and yes this post by Mario narf fall is 100 % ridiculous citing an anonymous Wall Street analyst speculating bricks would use ripplet ripplet is a private closed Network payment system operated by Ripple and narf fall goes on to say that it is possible that bricks will use ripplet in the form of a new Global Federal Reserve it’s really ridiculous allow me to read two tweets from Ripple CEO Brad garlinghouse that was posted in March 2022 in order to convert crypto to Fiat exchanges Etc rely on banking Partners who could lose their license if someone on the OAC list is able to slip through extremely stringent kyc know your customer and AML anti-money laundering policies are in place to avoid precisely the this ripplet for example has always been and remains today committed to not working with sanctioned Banks or countries that are restricted counterparties Ripple and their customers support and enforce the ofac laws and kyc AML and jungle summed it up quite nice in this 902 clip this is is a whole bunch of nonsense this is like a YouTuber’s dream here we see unnamed Wall Street analysts speculates the bricks Coalition Brazil Russia India China South Africa they aim to challenge the dominance of the US dollar potentially with the Ripple crypto strategy the post goes on to state that they’re going to be leveraging the vast capabilities of The xrp Ledger of course they’re going to leverage Ripple net you got to have that in there and we even have a section talking about the great exploits of ond demand liquidity Ripple net leveraging xrp to bypass the need to prefunds is Ripple capable of becoming the new Global Federal Reserve uh you know this is some nonsense that’s all it is he was paid by someone to make sure you bring up the Federal Reserve check uh bricks okay we got to have that xrp ledger Ripple net the Federal Reserve you know this will if you put these things in a YouTube video you probably get get 20 30,000 views of course uh this ain’t going to happen you have a multi-billion dollar US company with crater to zero instantly if you try to help uh these countries evade sanctions you know get around the US dollar dominance like the the government ain’t going to allow that I can tell you that further why would they work with ripple if they like the technology they could simply Fork it do their own thing uh they they don’t need need Ripple they don’t need xrp uh they would just build out their own system this is silliness today the crypto Market is choppy we were up over 58,000 with Bitcoin but it’s backed off now not coin is the big Gainer today it’s a telegram based game with 35 million total players 6 million on average play it daily and it’s on thep Network which I really am starting to follow very closely it’s a earn in-game currency uh which is called not coin and it’s been growing quite rapidly since May and is the biggest gaming token this year it had a 50% gain in the last 24 hours now no I’m not showing this to you because I want you to chase green candles that is really super dangerous even even though um there’s not a lot of holders that are underwater because it’s such a new project when you have such an aggressive pump um it’s likely going to to pull back so yeah just just wanted you to watch it and and it’s one of those new projects that that are kind of interesting because the gaming tokens with telegram on the ton network with the USD tether partnership yeah is quite interesting and I know you don’t need to remind me that I have contrarian points of view on Tether and it might be because I live on the opposite side of the west where tether is still really growing as a matter of fact the Philippines adopted tether’s usdt for their Social Security payments just a few days ago so again uh I have a different point of view because I think I live in a different part of the world where this stable coin is very well received I found a story today that I shared with everyone on X and that is Chris Larsson the co-founder of Ripple started a nonprofit intended to send charitable donations to the city’s police department and that would be of course San Francisco he started with a $1 million donation and 10 stations in the city are encouraged to submit an itemized wish list by the end of July we’re going to keep it going with a lot of little bits of news that I find interesting we’ve got Justin Sun teasing everyone with a new tech for gas free stablecoin transfers wow this is interesting I found the Boston blockchain Association is very active and they just redid their website and you’ll also find that Ripple is one of their Partners or sponsors and they’re going to host a meet the candidates for Massachusetts US Senate race 2024 and it’s not a debate it is where John Deon and Ian Kaine will talk with a moderator and they’re both going to um yeah have a fireside chat to discuss the candidacies and the responsible adoption of blockchain and digital asset Technologies it’s going to be very good I’m sure Wednesday July 4th 6 to 7: p.m. Eastern Standard Time the panel that I moderated in the Netherlands at Apex uh had the co-founder of hummingbot on and I noticed today that in the 2.0.0 release notes uh that was uploaded on July 3rd there’s a new xrpl connector so the trading bot users can now connect to xrpl and as they do with other standard centralized exchanges so that has an improved performance and stability for trading so wo Jake yeah good job thanks for your contribution and another bit of news that came out on the 3D I missed it but it’s definitely worth talking about this is sentient labs and in their seed funding seed funding they raised 85 million this is a startup that is focused on creating an open-source platform that allows developers to be compensated for their contributions to the AI tools what a brilliant idea and I am always paying attention to the space when it comes to payments and yes I have been tough on the lightning Network because while I don’t like the fact that you have to lock up your Bitcoin and the rebalance of channels is really uh quite difficult large payments are very often failing I think it is cited in this video um more than 40% fail and also it has difficult node management so yeah there’s just a lot I don’t like about the lightning network but but but but okay Light spark this is being led by David Marcus he’s a former president of PayPal he also led the initiative with Facebook and Libra well they seem to be solving this with software as a service and coinbase has been onboarded along with newbank newbank has 100 million users and he announces in this video that there are more in the similar size to be announced so I think they’re really making a Headway and I would I would definitely start paying attention to light spark something that I’ve I’ve seen some people talk about is like lightning is occasionally broken or something like some people like developers will like like hey like maybe this isn’t working exactly as we we thought what’s your opinion on that like is lightning working are we fixing the bugs that come up like how do you think about that if you use light spark it’s not broken at all uh it’s like thank you for the pitch uh it’s uh no I mean lightning is hard like you know we said it’s like really hard when we started uh basically what we benchmarked is that if you were trying to do a transaction above 5075 worth of bitcoin onling that you know over 40% of those transactions would fail uh and now we’re processing transactions single transactions of over $100,000 uh and they’re actually split in multi-part payments and smaller pieces and then reassembled on the other side but it works and so it the protocol itself the way that this was designed was actually very thoughtful the the software implementation um was good on the Node side but what was missing is actually a whole series of software services on top of the nodes and the distributions that we currently have uh and that was largely in existence and it’s almost like you know you’re asking uh Enterprises to run the core runtime of a certain distribution with no services around it it’s like it’s just not the way that it works at least for the institutional side uh of the house uh and both are important like the self- custody part that has a lot of challenges that I’m sure we’re going to get into uh unliking and the large institutional players being on the network both actually really matter a great deal and so it’s great that anyone can run a node but if you want a professional access point to the network that is reliable Enterprise grad secure with the services that you need then you know that’s what we do uh and stable coins are great and solve a lot of problems but they have one major issue which is that you have to have a centralized issuer uh basically issue the stable coins and manage the underlying reserve and so that in itself is like too much centralization if your entire payment Network actually depends on it and so that’s why we’re architecting the things the way that we are and building on top of Bitcoin This Time Around My worry is more that you moving from a system that’s really fully decentralized fully neutral uh with no centralized choke points so to speak within the network and so I’d be very concerned if the entire lightning Network depended on one stable coin for instance yeah uh that would kind of make it like really tragic frankly to have like the most decentralized uh asset in the world and network in the world now be recentralized uh but because everyone’s using a stable coin uh but I think what’s going to happen in the next um two years two three years is that there’s going to be so many stable coins everyone wants the stable coin these days and so you’re going to have a fragmented liquidity of stable coins uh that are going to be used for a variety of different purposes in different parts of the world uh and on different platforms and you’re going to have to move that liquidity between the stable coins and net settle and Bitcoin might be like you know the most highly liquid asset in between all of these pools of liquidity so I think it might work out uh but I’m very schizophrenic about this in general this is the Buddhist monk yoshii isida who loves to play games alongside his duties at the umoji temple in ahime prefecture yes we have jumped to the fluff and one of his favorite games is Super Mario Brothers in each game his enemy is treated as a living being so he recites the Sutra prayer every time he kills the enemy so that their soul will rest in peace it takes them a little over a minute to get through the entire prayer as he’s paused the game but then you can see he has a little bit of a chuckle and then we’ll continue his play all right everybody yes do take care sign off for now bye-bye

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