@VentureCoinist @HypeBillion @MycolePawket If the whole world settled on one stablecoin, I'd agree with you. But stablecoins are always going to be tied to jurisdictions and counter-parties too. So it is unlikely one winner will emerge.
@VentureCoinist @HypeBillion @MycolePawket Today, one of the roles of the dollar is acting as an intermediary or bridge between currencies. For that role, its tie to the US jurisdiction is both an advantage and a disadvantage. Better US than a worse jurisdiction, but a pure digital asset is better still.
@VentureCoinist @HypeBillion @MycolePawket Imagine a future (maybe not so far off) where everything is tokenized and you can have your salary agreed in dollars but gold gets delivered to your wallet and you can buy groceries by selling tokenized shares of a REIT.
@VentureCoinist @HypeBillion @MycolePawket In that world, there will need to be concentrations of liquidity. You can't go from gold to shares of an obscure REIT by finding people who want to go those same shares to gold. The liquidity-concentrating asset likely can't be one country's currency. How could that be universal?
@VentureCoinist @HypeBillion @MycolePawket So, sure, if you get paid in dollars and pay your bills in dollars, it may make sense for you to use a dollar-denominated stablecoin for short-term holdings and payments. Absolutely.
@VentureCoinist @HypeBillion @MycolePawket But I can't see a $-denominated stablecoin being your direct connection to the rest of the world economy because it's neither universal nor neutral. For one thing, it will only be used by people who would do business with its counterparty and who find its jurisdiction friendly.
@VentureCoinist @HypeBillion @MycolePawket Medium-sized FIs have been pretty receptive to the argument that they're not going to get everyone else to use a system they control and, given that, surely they would they prefer a system nobody can control to one that's controlled by their largest competitor/adversaries.
@VentureCoinist @HypeBillion @MycolePawket I know this is pretty far out there, and maybe I'm just a bit crazy to suggest this, but maybe some governments will see the wisdom of this same reasoning. If they can't run the system, maybe a system nobody can run is better than one run by their geopolitical adversaries.
@VentureCoinist @HypeBillion @MycolePawket My personal vision for XRP, since 2013 or so, was this idea of deep, open, public pools of liquidity that anyone, anywhere could contribute to and draw off of -- a global market for assets that someone happens to already have exactly where someone else happens to need them to be.

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More from @JoelKatz

11 Jan
@VentureCoinist @MycolePawket @Ripple If you don't know which asset you'll need next, it makes sense to hold the bridge asset. If you are just being opportunistic and want to make money, you want to hold the asset people will need when they sell a rare asset cheap and that will be the bridge asset.
@VentureCoinist @MycolePawket @Ripple I don't buy the argument that the performance of the native chain doesn't matter. If that were true, bitcoin wouldn't have been a significant innovation because it's just a better native chain. If it takes hours to set up a pipe or fund a pipe, you need to pre-fund the pipe.
@VentureCoinist @MycolePawket @Ripple XRP has less regulatory clarity in the US than bitcoin. Maybe less than ETH. Everything else, ... Who knows?
Read 11 tweets
3 Dec 20
@cczurich @Ripple @micicjo @OpodisConf I welcome papers like this and appreciate having any weaknesses identified and pointed out. Any opportunity to improve XRPL’s consensus protocol or the security and reliability of blockspace generally is a good thing. 1/8
@cczurich @Ripple @micicjo @OpodisConf The attack on liveness outlined in the paper identifies intentional behavior. If a substantial fraction of your UNL is malicious, you don’t want to make forward progress, you want to fix your UNL. 2/8
@cczurich @Ripple @micicjo @OpodisConf The attack on safety is comparable to attacks in other blockchains. Bitcoin loses safety if an attacker can partition the network. XRPL is more resistant because an attacker has to both partition the network and control part of your UNL. 3/8
Read 8 tweets
24 Nov 20
I recently got to do some coding again and wanted to share this branch while I'm still excited about it.
github.com/JoelKatz/rippl…
This saves memory, simplifies and reduces code, and speeds up ledger sync and historical ledger fetching. It cleans up an ugly bit of cruft in the getMissingNoded->NuDB path that has irritated me for a year.
It has not been reviewed yet so use at your own risk. The branch also has a NuDB latency fix that speeds up ledger advancing.
Read 4 tweets
8 Nov 20
@XRPeuphoria_ @RepvblicReset @marshal_xrp_moe @ModusOperandice And this is a pattern. Once again, Trump had evidence that he said would show he did nothing wrong. He said he'd release it. He did not. Why do you think that is? 2/2
@XRPeuphoria_ @RepvblicReset @marshal_xrp_moe @ModusOperandice Also, his pattern of using Twitter to lie to the people of the United States is unprecedented and disturbing.
Read 5 tweets
5 Nov 20
About eight years ago, a bear attacked my chicken coop. Image
I was a bit puzzled about what to do when something like this happens. So I called the county and told them that a bear had attacked my chicken coop.
So they bounced me to the correct department and I described what had happened. They asked me a bunch of basic question -- where I lived, whether anyone had seen the bear, and so on.
Read 7 tweets
20 Aug 20
When I was in Morocco, I remember noticing some subtle ways that women were treated as inferior. And I remember at the time, I even found it amusing. 1/x
One example was my wife being asked, in a clothing store, which shirt she thought her husband would prefer her to have rather than which she wanted. Some were more serious. And I even found myself thinking it's nice to live some place that doesn't do that. 2/x
Of course, only a man could think that. Of course we do that in the US. In millions of small and not small ways. I'm sure you've all heard stories of women in tech who were questioned or doubted in ways men would almost certainly not have been. 3/x
Read 7 tweets

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