Admission from the Bank of America: DOGE is desperately needed as the alternative is catastrophic.
(twitter.com)
🚀 PRECIPICE 🚀
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Why xrp? I hear people talking about it but never a reason
XRP currently has 17 ETF’s filed while currently under litigation with the SEC. For reference, BTC has 11.
No, XRP is basically a CBDC blueprint. Provides even less privacy than BTC.
XMR (Monero) is actually peer to peer electronic cash that cant be traced. You can actually spend it anonymously.
Politely, XRP is nothing close to a CBDC. RLUSD would be the closest. Trump signed an EO banning a US CBDC. I understand you’re a purist and want to hide your dollars from the government. XRP is a bridge asset that can convert any currency in 3-5 seconds. Oil was recently traded between the UAE and India using XRP.
I know what XRP is. I don't think it should be sold to people as a daily use currency because it provides absolutely no privacy, is totally centralized, and uses a closed validator network rather than fair proof of work consensus, so yes it is a CBDC. Just because it's not being made mandatory by the government doesn't mean it's not a CBDC.
Also not saying there's no use case for XRP. I'd be totally fine if XRP ends up being the tool used by nation states and international banks for instant settlement, but that's where it should stay, not try to compete with BTC as a store of value or with XMR as private digital cash, because it is neither of those things.