JP Morgan to pwn XRP?

in bitcoin •  2 months ago

XRP was coin for banks to transfer money fast etc.

Now JP Morgan makes JPM, coin for fast international transfers, only for big compoanies that meet some rules.

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1 JPM will be worth 1 USD, just like all stable coins are.

XRP Markets

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I said it months ago XRP is a dream there is no way banks would ever give up their control to some 3rd party blockchain called Ripple lol. If anything they would of made them feel warm and fuzzy and steal all the tech and build it themselves. Guess what, its exactly what they did. Banks are rather predictable

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Yes they are...That´s why we will win. We are a smarter generation, as next the will be better than ours...It´s called evolucion XD

Every banks with their own coins. Maybe every company with their own coins. Companies would like it if they can circumvent the current trading law in the stock market.

Thanks for sharing! Blockchain is the future!!

Posted using Partiko iOS

This is an interesting coin... it may be the only stable coin that may be able to stay stable... as long as the FED is going to be backing them.

However, i won't have any confidence in this coin, as i am sure that i won't be able to watch the coin creation or to know that my coins won't be bail-in'd

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That's contradictory by itself ;)

Posted using Partiko Android

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Not really.

If the token is backed by the FED, then there is always liquidity to pull out US$s
However, since JPM has been known to do poor bookkeeping.... err accounting slight of hand, i would expect them to slip themselves a few extra JPMcoins whenever they felt like it.

Thus, they would be pegged to the US$... until they imploded.
All the while, JPM was inflating the US$.

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And we probably won't get to see the code that shaves off a % of every transaction for JP.

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FED = backed by debt = not backed by anything. No proof of whatsoever, just like printing money out of a vacuum. Will certainly have a bright future, just as the FED has ;)

Posted using Partiko Android

I have a hard time thinking that another bank will want to use the JPM coin. Not sure it will replace XRP. Thinks banks would rather use third party then use competitors coin

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There is no competition in banking they are all owned by one - look at page 17 in this peer reviewed doc: https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0025995

good invite you to go through my blod and give me a grain of sand. Thanks, good day to you

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Hmmm, well I'll be damned. I guess I really can see the future 🤔🤯