A King and a Beggar Play Chess Together

jcollinsEconomics, Esoteric, Premium POM26 Comments

XRP’s Moment of Truth is Approaching

JC Collins

We all have our moment of truth.  So do ideas.  The moment of truth for XRP is fasting approaching.

All throughout 2018 we have researched, written, theorized, speculated, riddled, predicted, argued, and rationalized on the fundamental possibilities and sustainability of the crypto asset XRP and the suite of XRP based software solutions developed and marketed by Ripple.  We have sat back and watched as partnership after partnership was announced. We viewed endless YouTube videos by XRP supporters who were excited to bring us every piece of news related to the asset and its potential.

Now the moment of truth approaches.

Just last week we saw Ripple CEO Brad Garlinghouse casually interacting with the Deputy Managing Director of the International Monetary Fund. The flow of communication was both informative, respectful to one another, and fun in nature.  This in and of itself is a strong indicator that much is going on behind the scenes.

The architecture supporting XRP has been expanding for at least two or more years. Central banks and large commercial banks, along with cross-border payment providers have all been investing time and money into this XRP infrastructure.  The purposeful development and expansion of Ripple based services add a deeper level of importance to the infrastructure and widespread adoption of XRP as the dominant digital asset moving into 2019 and beyond.

It’s been a tough year for those invested in the crypto market.  We’ve gone from all-time highs to new lows for the year, with 70% to 80% of the market value shedding itself throughout the last 12 months.  With each failed prediction on a new bull market, the depression for many ran deeper and longer.

But as with all things, nothing stays the same forever.

The fundamentals of the crypto market, and specifically XRP, are undeniable. The birth of a new asset class is something the world hasn’t seen in many centuries. We have no reference point to assist us in understanding the dynamics of this developing asset class and market.  As such, there is much misunderstanding and intentional misleading as everyone stumbles around attempting to figure it all out and be the one to make accurate predictions on price and utilization.

Beggars want to be kings and kings want to be greater kings. Each of us seeks out XRP knowledge and riches for our own reasons. Some are enthralled by the process of development and implementation more than price.  Others are strictly focused on upward price movement and untold riches. There are many who populate the temporary wastelands in between.   We roam about wondering “when moon” and follow those who proclaim to know something which the profane do not.  Those who make such claims are indeed the profane amongst us, for the accumulation of knowledge and wisdom are two different things.  Wisdom is the key to managing knowledge.  Do you see profane Man?  The king and the beggar are one and the same.

Upward price movement of XRP is inevitable.  So is another overall crypto bull run. That’s who cycles work.  Nothing stays the same forever.

The world will change in 2019 and the crypto market will be leading the charge on those changes.  XRP will be leading the crypto market through real-world utility and adoption.  It is as inevitable at this point as tomorrow.  The amount of investment of time and money into the XRP ecosystem will not be undone and discarded.  It will continue moving forward and growing as it takes over sector after sector of the global economy and existing financial infrastructure.

The light bulb cannot be uninvented.  XRP’s moment of truth is approaching.  – JC

This article is copyrighted by POM Media©2018. As Premium content, permission is not given to be copied and re-posted.

JC Collins can be contacted at jcollins@philosophyofmetrics.com

26 Comments on “A King and a Beggar Play Chess Together”

  1. JC,
    I like your optimism. So, what if the monetary system doesn’t change? Is XRP’s success dependent on the monetary system changing? Thanks in advance for your thoughts on this. Best, RJZ333

  2. I stand with JC .

    I think we are witnessing the first signs of a big change coming . It’s difficult for me to explain correctly what I feel as this is not my native language .
    But I see cracks everywhere . More and more cracks between citizens and their governments , worlwide . Cracks between historic partners of the Pax Americana , cracks between historic commercial partners , loss of faith in the actual financial system , loss of credibility in the major international institutions who are promoting opaque agendas disconnected from the realities of the ordinary citizens , etc etc……

    And now some cracks in the stockmarkets , as centrals banks are stopping their monetary stimulus .
    I’m an observer , as I have already said in a few posts . Trying to understand what’s going on in this strange world , where greed and hubris are seen as virtues , and friendship and honesty as weaknesses.
    Long story short , I do believe in cycles . Economic cycles , prosperity cycles , war cycles …..
    Kondratieff cycles , Kuznet , geopolitical cycles , Schumpeter’s creative destruction , etc….
    And for the moment we are in the winter part of the Kondratieff cycle , the worst part of it. For those who don’t know , Kondratieff’s cycle has a 70-80 years duration , and is divided in four seasons . Last winter brought to the world the Great Depression , and finally WWII .

    https://docplayer.net/8266144-Kondratieff-waves-warfare-and-world-security.html

    https://economyandmarkets.com/economy/economic-cycle-theres-more-than-one/

    https://deconstructingrisk.com/tag/project-zero/

    https://scienceprogress.org/2011/05/waves-of-innovation-2/

    So what ?
    From my own observation , as an optimist realistic guy , I see what’s coming as very destructive for everyone unprepared , and at the same time probably as one of the best opportunities for the two next decades .
    I try to explain . Everyone and his dog know that’s there is too much debt around the world , and that the debt burden is something which has to be resolved , one way or another . But at the same time each country , each conglomerate is pushing further and further in the debt business ,as if this was anecdotic .
    But it’s not .
    And I see the actual shakes and shocks of the financial markets as the beginning of a big overhaul of the monetary system .
    Maybe I’m wrong . After all I’m not an expert , just a long time ( more than 20 years ) observer .
    But I’m not alone , thinking this way .
    The key is the USDollar . The actual financial architecture is based on Bretton Woods agreements , which are more and more denied by a majority of countries , as America has abused of this privilege to blackmail his own partners .
    It already happened once , in the seventies . And it was solved by Nixon and the Fed , breaking the link between USD and gold . Partners were not very happy , but it was the cold war , and no one dare loosing the american protection . We are not anymore in this bipolar world .
    America is now quite in the same position as was the british empire in the twenties , slowly overextended and unable to maintain HIS world order . And finally came Bretton Woods , as the consecration of the USD .
    What will be the next step in this particular domain ?
    Of course I don’t know , I just can guess that JC is probably on the right path with the rise of some crypto currencies , and specially XRP . We know that the IMF is working on that subject .
    We know that through history , each time there was a level of indebtness too big to be resolved , a majority of debt have been swept via some major wars and and big rise of inflation .
    I just think we are going to see this events happening soon , within the next five years , with a demise a the USD and the implementation of a crypto monetary world , in which XRP will play a role .
    That’s my simple opinion , not more .
    And about XRP’s price , the worst is behind us , as the bubble is now deflated . The best should be a slow motion Up , inside a rising range from 0.23 pts to 0.65 pts during 6 to 9 months before starting to trend really higher . XRP has probably made his lows , with a triple bottom in August , September and recently in december .

    I did my last purchase beginning of december around 0.30 pts . Now , I wait , until I see a validation a the tentative of rise happening right now . I’m using the Weinstein method . When the EMA 13 and 30 will cross in weekly units , I will buy more , as this should assure the next wave Up .
    Don’t know if you can see the charts on this link :

    1. Ledude, I stand with you guys too, we’re on the cusp of radical changes. Thanks for those links, however I can’t see the last one. What site was it?

      Referring to the Weinstein method, I believe you are talking about Stan Weinstein, author of the 1988 book Secrets for Profiting in Bull and Bear Markets.
      I am interested in trading based on technical analysis, and have dabbled with it in the past, however I just feel a little unsure of it due to the way the market seems so news-driven these days. Do you still recommend reading a 30 year old book on the subject? Or if you have any better suggestions/links, please let me know.
      I agree with you on XRP price, we have seen 3 lows, each one slightly higher than the last (according to my charts, 0.240, 0.254, 0.280) so this bodes well if the trend holds.

      Another thing I find interesting: US financial stocks are selling off, even though the Fed is raising rates. Aren’t rising rates supposed to be good for banks? I haven’t researched this, it’s just an observation, but any theories welcome. Part of me wants to believe that we could be witnessing the beginning of a complete collapse of financials. If so, we can be fairly sure that Trump won’t rescue them this time.

    1. Since the IMF cannot fund a crisis and the Fed needs to have interest around 4.5% here in the states to absorb a crisis (currently at about 2.5%) there is a large gap to fill. How soon it needs filled depends on when they believe the next crisis is due. Either way it sounds like the perfect catalyst to push towards XRP/xRapid. This would produce an influx of liquidity as Nostro/Vostro accounts are freed and pumped into the economy.

      https://www.investopedia.com/terms/n/nostroaccount.asp

      https://www.investopedia.com/terms/v/vostroaccount.asp

    1. Lmao. What a deep song Peter. I put a picture in my mind of the fall of man into materialism and the realization of how short life really is. Thanks pal.

      On a side note. I just sold my motorcycle two days ago. The transaction should be complete next week. How weird huh?

  3. I try and stay about half-assed off the wall. So with that in mind, and with all that has been shared, from all over the place, I come at you from one more angle. I’ve been wanting to go here for awhile now, but have found myself weak. I feel strong today, well into my cups. Besides R-XRP is going to do what it is going to do with or without my input, it is well past it’s “moment of truth.”

    Steganography, with an X as a marker, going all the way back down thru there. Even beyond the X used on the shields of the Dogon in their rituals, I suggest from the ancient days, X has marked the spot, hidden in plain sight for ancient’s to speak at each other, a symbol that moves the worlds.

    Of course we find X’s everywhere, x-wives, an x-boss, x-rayed, x-pired but for the ray different and the same. I suggest well beyond that are the X’s applied to the tech, a particular type of tech that moves the worlds. The type of tech that comes out of MIT, NSA and the best of the schools(sic). The type of tech that attempts to guide culture. They, whoever the hell they are like to put X labels on their most powerful tech.

    X marks the spot.

    Thinking free, I brave to challenge the idea that XRP, Ripple is about to become something newer, bigger and better born organic from the tech ashes of Bitcoin. I’m almost satisfied, almost, that Bitcoin was but a test. A test that was given in order to set the stage for the introduction of the real program. A new world currency. Going 90 and I ain’t scary, ’cause I got the Virgin Mary glued to the dashboard of my car. Why should I be, scary? After all I’m completely convinced the wizards understand the alchemy and what it takes to keep the boat afloat, plus all the zeros and ones, current in flow. They got a hell’a lot more to lose than most.

    For most of my life I have found myself railing against a system that permitted so few to finance so many to slave and war. Trade makes the world go around. Could you or I have designed a better system for the times? I like to think the old system has run its course and what appears to be following the centuries of centralization is in fact a new system that has a degree of betterment, a de-centralization at its core. Perhaps I kid myself.

    Please allow me to introduce myself, I’m a man of wealth and taste.LOL! The introduction of Ribble, XRP only followed the introduction of Bitcoin by design. It was well into the works before B-Coin, as was the internet way back when. Get used to it. These schools stay in session year around and are by far, many decades, maybe more, outpaced what we surf-ace. I wouldn’t know that but for the NeXT thing.

    They move us

    Take for instance that bucketheaded David Schwartz all dolled up to look the genius. I’ve listened do him speak and found him lacking any skills of a communicator. He looks, walks and talks like a genius, I believe he is one. But I also ponder the idea that he is just a frontman for the true genius behind the scenes, a Zuckerberg, if you will. A program like R-ZERP needs a genius looking, walking, talking, to help sell it, a trillionaire to boot. I bet his ugly, clumsy ass has no problem getting laid.(I’m so Jelly) The perfect frontman, these X programs require one. Where is the rest of the tech team? Are we to believe R-XRP is a one man tech show, the latest iteration of BC’s Satoshi Nakamoto, but this craft with a face, such a face, perfect. Working for NSA, and by the way doesn’t DS connect with NSA.

    Dave’s twitter page begins with this, from Jan 2017;
    “Public service announcement. If you see a tweet that tells you to send some cryptos somewhere and more will be sent back to you, It’s a scam. If it seems to be coming from someone you have reason to trust, it’s probably an imposter, If not pick different people to trust.”

    Huh? Fucking genius, I have six year old Grandchildren that know that. I’ve also taught them how to spot bad actors on other levels. Get the hell out of here.

    One more thing and then I will leave Dave alone. Being half Polish I know what a Swartz is. Sounds like a wink to me.

    Don’t get me all wrong, I consider myself mature enough to accept the play, the work, the craft if you will. I snapped to the fact many moons ago when my good man Dane slapped me hard when I was trying to get around purchasing XRP without a bank account. “It’s a banking instrument, dummy” he more or less told me, it took several months and a half a price drop from a buck plus to around fifty ( I missed it at .25, I bet redjon didn’t) for me to come to terms with the idea that XRP is a corporate coin, and a once in a many lifetimes opportunity to get in on the ground floor of a new asset class. I opened a bank account. and started accumulating. Got over myself.

    I struggle to find a degree of solace that allows my outlaw old ass to participate in a new society by believing that this new asset class will not only allow the International Banking System to perform another day, but will also usher in many, many millions of people to participate in the internet of value. Thereby paving and paying value to the many millions, dare I say billions more.. I hope so, there is the payoff for my sell out.

    XRapid, XCurrent, XSpring, xtc, xtc..

    You get the idea??

    I Xpect so.
    PTM

    1. Great stuff Dearest Pieter,

      I hope Ripple, XRapid, XCurrent and X whatever won’t turn into Xcrement, I hope it won’t, otherwise, I have lost my stash of cash savings that I saved under my pillow.

      Tonight is the longest night of the year and we have done 40 days into the winter and the rest of the year is more LIGHT and less darkness. Let’s hope that the LIGHT wins the battle for the weary passengers of this floating globe. According to tradition, the LIGHT wins every time and for the past many billion years…

      Happy Yuletide my friend,
      CD

    2. Hey Pieter, you may be getting me conflated with Ledude – he’s the real expert market-timer around here 😉
      Depending on your point of view, it’s kind of ironic and/or saddening that you had to open a conventional bank account in order to get into a crypto asset. Oh well, I’m glad you’re in, enjoy the ride…

      1. Hi Redjon !

        Well , don’t give me too much credit ! I’m not an expert , just a market observer , as I use to say .
        In fact I really enjoy having and feeling visual emotions from what my eyes can see .
        Could be some colourful scenes on the streets or in the sky , the fluidity and impermanence of a movement in the crowd or in a public garden , some colored spots on the walls or even on a window shutter , all these kinds of things brings me positive feelings .
        As I grew older older , I’ve used this particularity to observe graphical patterns in stockmarkets , via colourful candlesticks , and so on .
        Time passing by , I saw differents patterns repeating in cycles , that’s why I sometimes can guess what should happen next when a pattern has appeared . Not more ……
        It’s always a game of probability , and I ‘m just sharing my thoughts here , with the POM fellows .
        In that way , I just saw that chart , in an ZH article , and it’s easy to think ( no proof it will do it ! )
        that the pattern of the differents Bitcoin bubbles will repeat with XRP .
        As I see it , Bitcoin has already made 2 vertical moves , the firts in 2013 and the last in 2017 .
        May be it will make another pic in the next few years , but as the blockchain technology has improved in 2017 and 2018 , BTC seems now really outdated when you compare it with XRP and Ripple’s technology .
        For me it looks like a wonderful stagecoach in front of a Porsche , or anykind of recent car .

        So to speak , I see XRP as an excellent vehicle to embark on for a second uprise , probably vertical one , in the next two years, as Ripple is able to offer real solutions to the challenges of blockchain implementation .
        To me , it’s just a question of patience , patterns and cycles , as long as the technology is improving…..

        https://www.zerohedge.com/sites/default/files/inline-images/bitcoin%20chart%20gs.jpg?itok=lTwhQbWJ

        https://www.zerohedge.com/news/2018-12-25/year-bitcoin-bubble-burst-charts-and-what-comes-next

        1. Hi Ledude, it almost sounds like you’re saying BTC is just a barbarous relic!! 😉
          I still hodl some, but don’t worry XRP is my main crypto play.
          Yes, your thinking on XRP makes total sense, I too expect another near-vertical price rise to occur, most likely in the next 12 months. JC helped us to see this but I now consider it virtually inevitable. I would try to convince my friends if I thought they would listen. Have tried recommending crypto to friends before. …Crickets…

  4. June 17, 2018 – “V. Cryptocurrencies: looking beyond the hype”

    “Current or planned examples of cryptocurrencies employing a permissioned model with designated trusted nodes include the coin to be issued by the SAGA Foundation, Ripple and Utility Settlement Coin.”

    https://www.bis.org/publ/arpdf/ar2018e5.htm

    “Utility Settlement Coin: A Pioneering Form Of Digital Cash”

    “The Utility Settlement Coin project began as a joint enterprise between UBS and Clearmatics Technologies in late 2015.”

    https://www.clearmatics.com/utility-settlement-coin-pioneering-form-digital-cash/

    But UBS is having legal problems…

    Oct. 8, 2018 – “Swiss bank UBS on trial in France over alleged tax fraud”

    https://www.reuters.com/article/us-france-ubs-trial/ubs-goes-on-trial-in-france-over-alleged-tax-fraud-idUSKCN1MI0JK

    Oct. 11, 2018 – “French court refuses UBS request to drop money laundering charge”

    https://www.reuters.com/article/us-france-ubs-trial/french-court-refuses-ubs-request-to-drop-money-laundering-charge-idUSKCN1ML1U2?feedType=RSS&feedName=businessNews&rpc=69

    Oct. 13, 2018 – “Court Refuses to Drop Money Laundering Charge Against UBS, $5.8 Billion Fine Looms” https://news.bitcoin.com/court-money-laundering-ubs/

    This SAGA project sounds promising though. From March 22, 2018 – “Saga is designed to address legitimate concerns expressed by policy makers, regulators and market participants regarding cryptocurrencies; mainly their anonymity, lack of underlying value and high volatility.”

    “Saga aims to promote a low-volatility environment, combining the virtues of blockchain technologies with algorithmic representations of financial tools. For this reason, Saga is backed by a variable fractional reserve that is anchored to the IMF’s SDR. These reserves will be deposited with regulated banks through algorithms in the underlying Smart Contract System.”

    https://www.businesswire.com/news/home/20180322005103/en/Saga-Foundation-Announces-Plan-Create-Non-Anonymous-Reserve-Backed

    But it uses ETH which is a dying coin. Dec. 20, 2018 – “Ethereum Constantinople Will Push Crypto Miners “Out Of Business””

    No miners no network nodes to perform transactions.

    https://www.newsbtc.com/2018/12/20/analyst-ethereum-constantinople-will-push-crypto-miners-out-of-business/

    This leaves one on that original BIS list from up above…Ripple who uses XRP. I know Ripple has a lawsuit pending and we are awaiting SEC ruling as to whether XRP is a security but even with those it seems Ripple is the front runner in this race thus far. Also it should be noted that R3 lost a bid for this “Utility Settlement Coin” before they settled with Ripple and chose to use XRP as their first launch crypto currency. 2019 looks promising.

    From a more recent BIS article September 2018 – “Regulating cryptocurrencies: assessing market reactions”

    “The XRP token also react less, which may reflect that its network of trusted nodes is centrally controlled by its issuer Ripple, making the XRP token distinct from other, permissionless, cryptocurrencies.”

    https://www.bis.org/publ/qtrpdf/r_qt1809f.htm

    Although Ripple has stated many times they only control a very small percentage of nodes (I think it was either 4% or 7%) that XRP is not centrally controlled, we can just let the BIS think that if they want to. 😉

      1. Lol, dying in the sense that when the ETH miners can no longer make a profit they will not mine. No mining no ETH network, no ETH network no transactions. But I see they found a partnership so they can run ETH on that network. That’s good but it also creates the possibility for a dependency weakness. I see all POW mining coming to an end in the future. But hey the RippleNet facilitates a network for most coins to transact on 🙂

        I shut the ETH mine rig down last month. Can’t make a profit anymore. Luckily it paid itself off three months ago. The savings in electric goes towards more…crypto 🙂

  5. Citizen Kane…

    https://youtu.be/yKZoJeDjseo

    Plot Overview

    Citizen Kane opens with the camera panning across a spooky, seemingly deserted estate in Florida called Xanadu. The camera lingers on a “No Trespassing” sign and a large “K” wrought on the gate, then gradually makes its way to the house, where it appears to pass through a lit window. A person is lying on a slab-like bed. Snowflakes suddenly fill the screen. As the camera pulls back, a snow-covered cabin comes into view. The camera pulls back more quickly to show that what we have been looking at is actually just a scene inside a snow globe in the hand of an old man. The camera focuses on the old man’s mouth, which whispers one word: “Rosebud.” He then drops the globe, which rolls onto the floor and shatters. Reflected in the curve of a piece of shattered glass, a door opens and a white-uniformed nurse comes into the room. She folds the old man’s arms over his chest and covers his face with a sheet.

    In the next scene, a newsreel entitled News on the March announces the death of Charles Foster Kane, a famous, once-influential newspaper publisher. The newsreel, which acts as a lengthy obituary, gives an overview of Kane’s colorful life and career and introduces some of the important people and events in Kane’s life. The newsreel plays in a small projection room filled with reporters. The producer of the newsreel tells the reporters he’s not happy with the film because it merely recounts Kane’s life, instead of revealing who Kane truly was. He notes that Kane’s last word was “Rosebud” and wonders if that may hold the key to Kane’s character. He decides to stall the newsreel’s release and sends a reporter, Jerry Thompson, to talk to Kane’s former associates to try to uncover the identity of Rosebud.

    Thompson first interviews Kane’s ex-wife, Susan Alexander Kane, who works as a dancer and singer in a dingy bar. Susan is drunk and uncooperative. A waiter hovers over her and tells Thompson that Susan has been unwilling to talk about Kane since he died, although she spoke of him often when he was alive. The waiter also says he asked Susan about Rosebud after Kane died and she claimed she’d never heard of Rosebud. Thompson then goes to the bank that houses the memoirs of Kane’s childhood guardian, Walter Parks Thatcher. As Thompson begins to read these memoirs, the image of the page dissolves into a flashback to Kane’s childhood.

    A roughly chronological series of flashbacks tells Kane’s life story from five different points of view. The first flashback shows how Thatcher meets Kane. Kane’s mother, Mary, runs a boarding house in rural Colorado. In lieu of a payment, one of her tenants gives her some stock in what she thinks is a worthless mine; it turns out to give her ownership of the Colorado Lode, a working gold mine. Finding herself suddenly wealthy, she decides to send away her son, Charles, to be raised by her banker, Thatcher. Charles is understandably upset and whacks Thatcher with the sled he’s been happily riding when Thatcher shows up to escort him away. Kane’s relationship with Thatcher never improves. Vignettes from their years together show Kane engaging in questionable journalism, wasting money, and constantly enraging Thatcher.

    Thompson interviews other people who were close to Kane, and these characters relate their memories of the man through flashbacks as well. Thompson speaks first with Kane’s good friends and employees, Mr. Bernstein and Jedediah Leland, and has one more conversation with his ex-wife Susan. Most significantly, Thompson interviews the butler, Raymond, who remembers Kane saying “Rosebud” following a violent episode after Susan left him. Each person gives his or her own version of an abandoned, lonely boy who grows up to be an isolated, needy man. All reveal in some way that Kane is arrogant, thoughtless, morally bankrupt, desperate for attention, and incapable of giving love. These faults eventually cause Kane to lose his paper, fortune, friends, and beloved second wife, Susan. Thompson, the reporter, never does find out what Kane meant by “Rosebud.” Giving up the quest, Thompson is leaving Kane’s abandoned castle, Xanadu, when the camera pans a scene of workers burning some of Kane’s less valuable possessions. In the fire is the sled that Kane was riding the day his mother sent him away. Painted on the sled is the name Rosebud.

    https://www.sparknotes.com/film/citizenkane/summary/

    Rosebud was Charles last loving memory of joy in this world. His mother betrayed him by sending him away when she became rich so he learned to resent and then hate the world that caused him such pain from that point forward. What he learned from this experience is that riches makes people happy, this drove him through his life. After gaining such wealth and power he only remembered the secret of true wealth and love in his final moments. The wealth of joy and love riding his sled in the days before his mother lost her wealth and gained her riches….that sled he loved Rosebud.

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