Ripple XRP: Cash Is An IOU XRP is an Asset




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Cash is Simply an IOU
https://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity

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19 Comments

  • I think Jungleman wants me to watch your video? Jungleman is going to telivise the revolution!!!!

  • I think Fiat and XRP can be categorized under the following concept:

    Fiat currency is an IOU between people holding the currency and the bank. The currency has value because the people who exchange money for goods and service have a level of trust with the bank that (back then) if you hand them the money, they will exchange it for gold.

    In similar fashion, XRP can also be argued as an IOU between people holding XRP and the exchange protocol. (Ripple is not really the bank in this situation since they don't "print" XRP like central banks do fiat) XRP has value because people exchanging XRP have a level of trust with the protocol that if you hand the exchange your XRP, they will exchange it for fiat currency.

  • β€œFiat” currency = iou; XRP = asset…..fiat currency doesn’t qualify as β€œmoney”.

    Love your channel!!!!!

  • available supply of. Xrp Sold Out soon😁

  • Hello Oz. I'm sure you probably read The Creature From Jekyll Island. That book was difficult to read in the sense of the painful dose of reality it provides, much of which you touched on. It's truly scary how fragile and full of illusion the banking system is. I remember when a friend of mine went in to cash out $500 at her bank and they didn't have it. This was a year ago. $500!!!

  • Thanks OZ! Great Video as always!

  • I’m the 100th πŸ‘πŸ»πŸ‘πŸ»
    Thanks as always!!

  • 5:26 What annoys me is when someone defaults on a mortgage, the banks gets to keep the asset without having to pay for it.

  • 2:01 His book Debt is one of the three I recommend everyone read if they want to learn about money. Took me a decade to find them all but well worth the wait.

  • Title of the video says it all ! πŸ‘πŸΌ

  • Good work !!!!

  • Another great video πŸ‘

  • Good video mate πŸ‘

  • Good work thank you..Is TIPS a clearing or resettlement tool or both? Thanks

  • Xrp will be Dollar…

  • thanks Oz, good work

  • Oz, maybe not an exciting topic, but I'd like to see a review of XRP node validators. Who the validators are, incentives to be a validator, how it all works, etc. This isn't an exciting topic, but it's an important one that almost no XRP YouTubers cover

  • Thanks Oz, another bloody ripper of a vid!
    Really appreciate it, keep it up mate

  • By far the best on you tube , thank you OZ πŸ‘πŸ»πŸ‘πŸ»πŸ‘πŸ»

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