Ripple/XRP-XRP The Next Global Reserve Currency Of The World-Brad Garlinghouse/Arthur Britto

welcome back to the show everybody we got a great one lined up this morning i love the smell of crypto in the morning we're going to talk about how we arrive as investors and youtubers and podcasters and influencers while we're so stuck on how xrp is seen as a global reserve currency how it can serve as a bridge asset to the whole world you know every once in a while you just got to go back and remind yourself this isn't each other hyping each other up a hype tree this is very very real we're gonna roll this beautiful intro and show you just how real this is digital perspectives with brad kymes subscribe for new content notifications now here's brad kinds come on in welcome back to the show everybody you can follow me on twitter at backup bradley above and everything that we're talking about here today make sure you follow us there and by the way this just in digital perspectives news on facebook like and follow us there we'll be doing a live stream tonight exclusively from facebook so don't miss that make sure you follow us there let's take a look at the market right now bleeding heavily at the moment 1.3 trillion plus it's less than it was yesterday we were at 1.339 now we're 1.327 so you can see more money has left the market temporarily so i think it's a good time at 60 cents of an xrp and so many many people take that opportunity to laugh at us and say world reserve currency xrp bridge asset to the world bro it's 60 cents yeah well you're going to look at some information today that might make you go hey maybe there's something to this because i certainly believe there is and this is not financial advice by the way just my perspective and i'm going to share some insights from people in the industry including brad garlinghouse what i'm really excited about along with xrp is casino coin recently coming on to the xrp ledger and there's so much happening with this in i full disclosure whole casino coin but they are not paying me in any way but i just love this project and i have family members and mrs backup love gambling and casinos and stuff like that so i know that this is really exciting on that level as well so take a look at this and see what they're doing here with this new app demo that they have you literally will be able to download an app go into that store if you will that casino coin store and choose which online platform you want to gamble on and do your thing i mean this is really really hip take a look at this [Music] look at that poker club golden casino star casino royal casino all these different platforms you'll be able to choose from once you're in the casino coin lobby how about that [Music] do [Music] pretty remarkable stuff i've got to say i'm very excited for that and uh i have been talking with daniel from casino coin hopefully we can get him on the show soon that would be very exciting i have lots and lots of questions for him should we get the opportunity to sit down and speak with him we'll keep you up to date on that as well now let's get into this right here we know that the money printing issue for the world and certainly here out of the u.s is reaching a point of no return there will come a day as even though it doesn't feel like it the fed the u.s treasury will never admit it because they know that they can't but there's an imaginary line in the sand when it comes to printing money and monetary value and when you cross that imaginary line which is by the way confidence and when confidence is lost and so is the value of your dollar says here the presumed inflation rate tapped the highest point since 2013 and alongside the forecast of lower purchasing power consumer debt and fears of a housing bubble in the us are on the rise trickle-down theory yeah there's there's bad things coming here you know i feel really bad for a lot of people who did the forbearance on their mortgages and a lot of that towards the end of this year is going to be over and i think we should start looking at the end of this year early next year at the housing situation and see what's be you know what's the fallout from all of this you know global shutdown of the economy we will find out but one thing's for sure we've talked a lot here about the velocity of money and what it would take to have something like xrp as a bridge asset to reignite the economy using the velocity of money which is fast settlement time from one hand to another with that same dollar right you want the power of 10 or whatever you know to be able to accelerate the volume of moving and settling transactions which means people businesses financial institutions banks would have to hold way less capital every day to be able to meet the needs of what they're doing and that certainly would be a huge part of igniting economy so before we get into the rest of this information here and by the way we're going to take a look at some email exchanges from arthur britto early founder in ripple co-founder co-creator of the ledger however you want to say it there but the reality is is i guess it's co-creator the ledger's the best way to say it but we're going to take a look at some comments from him we're going to hear from brad garlinghouse and we're going to really shore up what's going on here and what the actual mission is for xrp long term but this is elon musk from some time ago and basically sitting in a webinar which i think this cat's on his cell phone i don't understand you have a chance to talk to elon musk and you're looking at your tweets or whatever i don't get it but nevertheless uh let's listen to what elon musk says when he's just kind of floating the idea of how you would institute something to work as a bridge asset he doesn't say xrp let me just full disclosure there but he does lay out what a bridge currency would have to look like listen to this exchange illegal transactions to occur those the cash must also be used for legal transactions you need an illegal to legal bridge um that's where crypto comes in so is it kind of the dark net stuff it can't be entirely dog because otherwise how do you buy normal stuff and cash these days is used just much rarer it's hard it's like increasingly difficult to use cash some places you can't use cash at all yeah true so there's a there's a forcing function for uh transactions that are illegal quasi-legal and in some cases legal but they've got to have some it's got to be both legal and illegal it doesn't count otherwise otherwise you simply it can't just be transactions within an illegal economy because how do you buy like you know food in a house or something you know you must have illegal to illegal bridge this kind of adult speak seems to be leaving everyone else in the webinar like well what what about bitcoin and anti-bank anti-establishment stuff it it don't work for that so where i see crypto as effectively as a replacement for cash but not as a replacement for as a primary uh not not as i do not see crypto being the primary database so now this is this is sometimes taken being like i'm being judgmental about crypto and it's actually i think there's a lot of things that are illegal that shouldn't be illegal um um but you know so it's not although i think that sometimes governments just and you get the idea at any rate so he goes on and on and on and the rest of them are just looking on like wait i just thought we'd use bitcoin but you know bitcoin doesn't work for a payment solution now here's where we get to it here this is brad garlinghouse uh speaking to korean reporters at a press conference back in 2018 and you're about to hear brad garlinghouse tell you exactly what the goal for xrp was and why there's only 100 billion created listen what the creators of xrp in the ledger said and brad conveying the message right here a question regarding x rapid so it seems according to understand uh your explanation x rapid would use xrp's as a part of the transaction do you think that the existing issue 100 billion in srps will be enough to cover once the x rapid service scales to a global full scale or would there be a shortage well so the when xrp was created this actually was created before ripple existed the creators of xrp decided to be 100 billion units because they saw it as a rather than having a smaller number with a very high price they saw it as something they wanted to be a effectively a global reserve currency how about that one uh oh you know if brad garlinghouse was a youtuber there'd be people attacking him saying that he is a wild speculator because that ain't him saying it today like we are he was saying that in 2018 oh my oh my i wonder why some of these other youtubers out here that attacked me don't attack him for such a notion but i do say this anyone wondering why i'm a wild speculator refer to this video because you know what i'm really not so much a wild speculator as i just believed them and i believe they're going to accomplish this task i think the opportunity well there never will be more than 100 billion xrp all the xp that memory created have been created and there you have it there won't be another one which makes it a deflationary asset now let's take a look at this because this is some downloads i have here let me see if i can get the actual right one open first here let's see one second okay i think i did here so from arthur britto here and shout out to ben m for this a couple of these i've seen before but one of them i have not and i think it's going to be quite compelling to a narrative we talk about on this channel or at least an idea of wild speculation that we float often on this channel it says here in this exchange back in 2013 talk about wild speculation and listen and when you're when we're going through this i want you to also think about the time frame this is 2013.

Ben m and myself had this conversation back and forth about this as well and you know i say this often on this channel i believe ripple and xrp were commissioned i believe they were commissioned if you go back and you look at 2015 and the federal pa faster payments task force and all that the steering committee ryan zagone at the time from ripple on that committee the implementation the findings the mckenzie report all of this information for me leads me to believe that this is less a startup which i know it had to start up but more of a company that was commissioned to solve a problem looking here we see the confidence as you read through this stuff the purpose of having xrp in the network is an asset is twofold first it helps bridge between different currencies and second it's used for very small transaction fees that help prevent people from spamming the network right so let's split the requirement of xrp into two parts as a bridge currency as a network attack prevention mechanism this email concerns the second item which is a network attack prevention mechanism the most concerning downside about xrp that i can see is that there are a finite number of them 100 billion xrp the probability of uh that ripple will last more than 30 years as the financial network is slim not having done the math but i'd imagine that 3 billion transactions per year is being conservative the transaction volume that will happen over the network if becomes popular i do realize that many of these transactions may be rolled into one and then we come back to this and i will open i believe it's this one now uh down to the math but i imagine that three billion tractions per year is conservative the transaction volume will happen over a network if we become popular i do realize that many of these transactions may be rolled into one to support pseudo-anonymous transactions but if ripple is successful maybe many would not choose to roll the transactions into one and may eat to the xrp space at an accelerated pace the transaction fee is set by the network consensus and can be lowered listen to this there should be enough xrp to last for thousands of years the greatest loss of xrp happens due to lost funds lost passwords now listen i think this speaks to exactly what brad garlinghouse said in 2018 there's only going to be a hundred billion the idea was that the creators from open coin that gifted it which were arthur britto and the rest of the team right is that as he said and if i could let's just go back and hear him say it again listen listen to this will be enough uh to cover against the x rapid service scales to a global full scale or would there be a shortage well so the when xrp was created this actually was created before ripple existed the creators of xrp decided to be 100 billion units because they saw it as a rather than having a smaller number with a very high price they saw it as something they wanted to be a effectively a global reserve currency there you have it you know i mean and the idea was that it be something that could last in a deflationary manner for thousands of years now let's take a look at this particular item here this is another exchange here looking forward to the xrp ledger needs to be able to scale to seven and to serve seven and a half billion people or even more devices the current account mechanism likely doesn't scale to this level therefore only those accounts that are most needed should be created the reserve provides a barrier to entry for unneeded accounts so there is a was it 15 or 20 xrp reserve to have a wallet and that's what they're referring to there a new account mechanism should allow the xrp ledger to efficiently service humanity scale usage is in development this would allow everyone to have an account on the xrp ledger for low cost while providing the necessary performance for humanity level service i expect most users of xrp will use hosted accounts for their day-to-day needs holding small amounts of xrp placing orders and making payments on ledger accounts would likely only be used by gateways wallet operators those that require cold wallets and those that have sufficient operational needs to justify acting on the ledger directly come on in to be able to scale seven and a half billion people this is from back in 2013.

Look at the confidence that they're talking about there look at the confidence they're operating with wow what wild speculation uh oh and what does arthur brito say here back in 2012 at 4 00 a.m in the morning the wiki has old stuff current stuff future stuff and mistakes i believe ripple will eventually support bonds and bonds markets that one i haven't seen before today okay that to me is pretty damn remarkable because we've been talking about the idea and notion of xrp supporting bond market being a bond market and this is arthur britto from back in 2012 2013 time frame ripple will eventually support bonds and bond markets how about that one and look where we're moving today we see today that another sign that a massive wave of investors are going to send us all the moon i really do believe that not financial advice this is from unknown sage here says s p dow jones indices launches s p cryptocurrency broad digital market index come to hell on in if you ever needed a signal that it is on like donkey kong there you go and it doesn't stop this here is the conflicted moment that the united states is currently in between legislators and regulators at this point this is u.s senator uh toomey and he is getting ready to tell you that he believes cryptocurrencies are not securities and he will be watching the sec to see what they do it's not at all clear to me that the sec has a role in regulating cryptocurrencies uh cryptocurrencies are not securities and the sec regulates securities so uh it that that's not at all clear to me that that follows and uh you know i'll be watching very very closely to see what the sec does as we all will senator toomey and obviously elizabeth warren has really sent a message to gary gensler's sec now and asking for a july 28 deadline for all the wish list of what gary gensler thinks the crypto market should look like from the sec chair we will see how all of this works out because remember behind the scenes there is a taxonomy act that's being worked on and we will keep an eye on what comes of that i believe that conversation with elizabeth warren and gary gensler is going to be about shaping whatever we get as legislation goes uh-oh looks like france and the eu are leaning in but what are they leaning into this is from hall of famer michael right here and he says french regulators have suggested european union governments give responsibility to the european securities and markets authority that's right the esma for overseeing cryptocurrencies you know what that means the french regulators are suggesting that the eu regulate cryptocurrencies like the securities market where have we heard all this before oh that's right right here more wild speculation i'm sure look that's going to do it for me before i get out of here i want to tell you you know we got a lot to pay attention to and link to is one of them these are the private investing made simple look sign up and find out if you're accredited there are incredible products crack and sold out right now but upholds still on the board linked to carbon all these other great products private equity a chance to own these companies before they go public that's what we're talking about if you're not accredited don't get discouraged because i believe the cryptocurrency space is going to make a lot of us accredited before it's over that's going to do it for me make sure you hit the like and subscribe leave a comment below share with somebody you know remember it's not just a youtuber and a podcaster telling you that xrp is really essentially the next global reserve cryptocurrency it's also brad garlinghouse and arthur britto and the rest of the team at ripple i'll catch all of you on the next one

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