Currency Market
Ripple will surpass Bitcoin. Believes a finance pundit
In a Twitter clip recently tweeted by a crypto influencer; Douglas Borthwick, managing director of the influential Chapdelaine FX, who often appears on networks such as CNBC and Bloomberg to discuss his thoughts on the markets, praised Ripple (XRP), even going so far as to claim that it might eventually overtake Bitcoin.
He elaborated that he believed many fiat currencies would be paired with Ripple in the forex market for a straightforward reason – the dollar requires a 2-day settlement while Ripple’s settlement is instant.
It’s this detail that he believes is a game-changer, and over the next five years, he believes that the Ripple will grow massively in value because of this real-world application, and because of the sheer size of the global markets.
Douglas even goes on to say that he believes that commodities will get paired with currencies, because of this advantage, that will lead to much faster and easier cross-border payments. He thinks that there is no competition considering the fact that Ripple can be settled “in seconds.”
In addition to this, bitcoin is continuously in headlines worldwide because countries are continually shifting their attitudes towards the cryptocurrency. That includes influential figures from all countries, whether they are bankers, politicians, or otherwise, giving their opinion as to whether the currency is a viable option, and whether it should be legalized or regulated in a certain way.
Borthwick points out that Ripple does not seem to have this issue whatsoever – and that in fact, it is supported by many banks and regulators, which already gives it an immense market advantage over bitcoin that cannot be overstated.
https://twitter.com/XRP_VETERAN/status/1044139428451688448
The clip is from a video uploaded by Modern Wall Street, and featured a roundtable discussion at Delmonico’s in New York featuring Jim Rickards, a respected American lawyer who has written extensively about finance, Stephen Guilfoyle, who boasts over 30 years of trading experience, David Williams, the founder and CEO of Williams Capital Advisors, and the aforementioned Douglas Borthwick.
In the clip featured on Twitter, Borthwick spoke on the fact that bitcoin was undergoing forks regardless of the fact that there is a finite amount of bitcoin, while Rickards added that the fact that bitcoin is finite shows that it is limited concerning the growth of global markets.
Considering that bitcoin has a market cap of over 100 billion dollars and Ripple’s market capitalization hovers below $20 billion; time will tell whether Ripple (XRP) will be able to surpass bitcoin in any meaningful fashion. Regardless, the real-world applications of Ripple are undeniable.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Manufacturing Industry 4.0 company Smart MFG Tech has announced that it is launching its MFG Liquidity Mining Rewards on LINKSWAP today. LINKSWAP is a decentralized, community-governed Decentralized Exchange (DEX) and an AMM platform, which was created by YF Link (YFL). The team at YF Link says it aims to address “the pain points of second-generation AMMs” by offering such features as Reduced Impermanent Loss, RugLock, SlipLock that are not offered by other platforms.
Smart MFG Tech has said that the first integration of the MFG liquidity mining rewards will use the LINKSWAP LP (Liquidity Provider) Rewards service. It will allow LPs to deposit their LP token(s) (UNI-V2) to the participating rewards pool (ETH|MFG) and earn MFG rewards seamlessly. Smart MFG said it will continue to work with the YF Link team to provide support for other pairs and expand services.
LINKSWAP’s Rewards is a liquidity mining service that enables LPs to earn rewards for providing liquidity in a participating pool. YF Link has implemented a custom frontend solution for Smart MFG LP rewards pool on LINKSWAP. This will allow LPs to add liquidity to Smart MFG’s existing ETH|MFG pool on UniSwap v2 and deposit their LP token(s) (UNI-V2) to their LINKSWAP rewards pool (ETH|MFG).
Smart MFG explained how the rewards can be earned:
“LPs get a share of the transaction fees on Uniswap v2. This is calculated by how much liquidity is provided relative to the percentage…
No matter what our goals are, sometimes just getting started can be the most difficult part of building our savings up. When it comes to investing, many of us are wary of parting with our money to generate more financial security in the future. But what if you can build significant savings without even noticing?
That’s the aim of the micro-investing apps that have come to dominate online stores across Android and iOS. Today, more fintech startups are working on delivering refined solutions that encourage minuscule investments at a more frequent rate.
Micro-Investing apps will look to make saving more accessible to young people – many of whom in the UK have little-to-no money tucked away for a rainy day.
However, the prevalence of money-saving technology and the disruptive chaos of the COVID-19 pandemic appears to have prompted a widespread increase in households saving more of their disposable income:
With micro-investing platforms playing a role in bringing UK household savings back up to five-year highs, is it fair to say that little-by-little investing is here to stay? Let’s take a look at how micro-investment platforms could revolutionise how we manage our finances:
What is Micro-Investing
Micro-investing, or sparse change investing, is a relatively new development in fintech. It effectively enables users to put away small amounts of money towards their long, or short, term goals. The idea…
Bridge Mutual, a decentralized platform that allows users to insure stablecoins, has announced that its native BMI token will be launched on Polkastarter tomorrow, January 30. The Polkadot’s decentralized exchange will host an Initial DEX Offering (IDO) for Bridge Mutual.
“Even the most sophisticated digital asset investors are at risk of losing their funds through various malicious and negligent activities in the blockchain ecosystem. With Bridge Mutual, we believe it doesn’t have to be this way. Using Bridge, people can control the risk exposure of their digital asset investments, just as they do with real-world assets. The Bridge Mutual platform allows people to offer and purchase coverage in a decentralized p2p way. We’re excited kickstart the launch of the BMI ecosystem with a launch on Polkastarter and creating a better way of protecting digital assets for users all over the globe,” Bridge Mutual CEO Mike Miglio said in a statement.
Bridge Mutual allows users to buy and sell insurance for smart contracts, stablecoins and crypto exchanges, peer-to-peer. Users can purchase insurance via the Bridge Mutual app and then file a claim if their digital assets are lost after a hack. “When users lock stablecoins in Bridge Mutual’s coverage pools, those funds are reinvested into popular (and safe) yield generating platforms that return yields to coverage providers. When a claim is approved, stablecoins from the coverage pool goes…
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