Watch this on Rumble: https://rumble.com/v5fhyff-follow-up-to-xrp-replacing-the-dollar.html
In my last podcast, I did some research on the links between the NSA and David Schwartz CTO of Ripple. I think we should do a deep dive on this guy and see what his motives are if he indeed did create Bitcoin and is Satoshi Nakamoto. And I wanted to find more information on tokenization of the financial markets and the reality of how long it will take to take full control. Plus I will explore all the comments I received and answer those questions.
First thing first. Who is David Schwartz?
David Schwartz is Chief Technology Officer at Ripple. David is one of the original architects of the XRP Ledger. Prior to joining Ripple, David Schwartz was Chief Technical Officer for WebMaster Incorporated, a Santa Clara software developer. He developed encrypted cloud storage and enterprise messaging systems for organizations like CNN and the National Security Agency (NSA). Known as “JoelKatz,” he is a respected voice in the digital currency community.
Is David Schwartz Satoshi Nakamoto?
He says no. Ripple Chief Technology Officer (CTO) David Schwartz has once again tried to disprove the claims that he is Satoshi Nakamoto, the enigmatic creator of Bitcoin (BTC).
Is Ripple CTO Satoshi Nakamoto?
One of the unsolved puzzles in the industry is the unraveling of the main personality behind the Bitcoin protocol. For more than a decade since Satoshi Nakamoto faded off the public scene, crypto proponents have pointed at several brilliant personalities that might fit the profile.
While the post from David Schwartz came off as a light-hearted one as he is known for, the responses generated visibly showcases why many held onto the believe that he might know who the real Nakamoto is. Despite his humorous way of convincing his followers and Crypto X that he is not the inventor of Bitcoin, he succeeded in creating a new army of those who believe he is Nakamoto.
Disproving The Fake Satoshi
While the Ripple CTO has made fruitless attempts to recuse himself from the Satoshi Nakamoto title, Australian Scientist Dr. Craig Wright paraded himself as the man behind the iconic digital currency for close to a decade.
With series of lawsuits filed against those who contend with his self-acclaimed status as Nakamoto, Dr. Craig Wright suffered a serious legal blow when a Judge in the United Kingdom ruled recently that he lied to the court about his status as the inventor of Bitcoin.
This legal blow has returned some normalcy to the broader Bitcoin ecosystem. Notably, the Bitcoin Whitepaper, taken down from the Bitcoin.org website, has now been reinstated on the platform. With the ruling, the fact remains that, no one knows who Satoshi Nakamoto is.
David Schwartz is one of the few personalities that many believe is responsible for the coin, especially because of his early work in the encryption technology. As the brain behind most of the innovative systems behind the Ripple Labs blockchain payments firm, it becomes easy to suggest he has a hand in Bitcoin.
Over the years, the Ripple CTO has made several attempts to correct the notion that he is Satoshi Nakamoto. On his official X account today, Schwartz shared a picture of himself with a masked fellow. Ironically, the individual shaped the mask to mimic the widely circulated image of Satoshi Nakamoto.
David Schwartz stirred a wave of curiosity across social media platforms with an unexpected inquiry into the enigmatic figure behind Bitcoin, Satoshi Nakamoto. Schwartz’s interest was piqued during an NBA game broadcast when a jersey adorned with the name Satoshi Nakamoto and the cover image of War’s track “Why Can’t We Be Friends” caught his attention.
Upon questioning the significance of the jersey, it was revealed to Schwartz that it belongs to a burgeoning fashion brand named Satoshi Nakamoto. The brand, led by George Robertson, has already garnered attention from high-profile personalities such as Kanye West and Jack Dorsey, who have sported its apparel during prominent events like the Super Bowl.
Notably, Schwartz has been a prominent figure in the field of cryptography and blockchain development since the 1990s. However, he has consistently denied any association with the elusive Bitcoin creator, dismissing the conjecture as mere speculation.
Ripple’s CEO hints the programmers at Ripple worked on Bitcoin
Ripple CEO Brad Garlinghouse stirs speculations regarding David Schwartz being the real identity behind pseudonymous Bitcoin creator Satoshi Nakamoto.
During a recent podcast, Garlinghouse claimed that some of the developers who created the XRP Ledger (XRPL), the underlying blockchain of XRP, were also early engineers of the Bitcoin network.
According to Garlinghouse, these developers attempted to build a better digital asset to solve some of the problems inherent in Bitcoin, including scalability and high energy consumption.
Garlinghouse’s remarks elicited speculations within the crypto community, with members suggesting that Ripple CTO David Schwartz could be the pseudonymous Satoshi Nakamoto.
Top crypto enthusiasts, including the Good Morning Crypto podcast host Abdullah “Abs” Nassif, have also fueled this speculation.
I am putting this one to bed. I am convinced that David Schwartz is Satoshi Nakamoto, the creator of Bitcoin. No one cares, however. Especailly that he is linked to working with the NSA and this platform ahs been in the works since the 90’s. They don’t care because this information doesn’t ring any bells. Unless a major newspaper prints a story that the NSA likely created crypto, this story is just shrugged.
So why am I making a big deal about it? Because cryptocurrency has been pitched to us that it is the most valuable money changing system in the world and was not created by the bankers. Bitcoin was pitched to us as a lonely engineer named Satoshi Nakamoto wanted to create a currency that was unhackable. A currency that the people would have control of. A way tp beat the money changer’s game of chess and put the power of finance back into the people’s hands.
This couldn’t be further from the truth. David Schwartz or Satoshi Nakamoto and the entire push for crypto to replace the current money system was planned all along. The narrative was in control and this is what the bankers want. The only reason people have invested in it in the first place. 300 million worldwide have invested in it with an estimated trillions of dollars that has been put into it.
This means crypto is nothing more than a scam created by the bankers to replace the failing dollar. But how? My last report said XRP will back the derivatives market. How is that possible?
The Hypothetical Scenario
While it’s highly unlikely and potentially illegal, let’s explore a hypothetical scenario where BlackRock and JPMorgan attempt to exert influence over the Federal Reserve through derivatives.
- Massive Investments: Both firms could invest heavily in derivatives tied to the Federal Reserve’s monetary policy decisions. These derivatives could be based on interest rate futures, bond prices, or other economic indicators directly influenced by the Fed.
- Market Manipulation: By controlling a significant portion of the derivatives market, BlackRock and JPMorgan could potentially manipulate market prices and interest rates. This could create a situation where the Fed’s actions are directly influenced by the firms’ financial interests.
- Political Pressure: The firms could use their influence to lobby for policies that benefit their derivative positions.They might also threaten to withdraw investments or sell their holdings, potentially causing market instability.
Why This Is Highly Unlikely
- Regulatory Oversight: The Federal Reserve and other regulatory agencies have strict rules in place to prevent such manipulation. They monitor market activity closely and can take action against firms that engage in illegal or unethical practices.
- Complexity of Derivatives: The derivatives market is complex and highly interconnected. It would be difficult for any single entity to exert complete control over it, especially given the presence of numerous other market participants.
- Public Scrutiny: Any attempt by BlackRock and JPMorgan to manipulate the Federal Reserve would likely face intense public scrutiny and political backlash. This could damage their reputations and lead to significant legal consequences.
While it’s a complex scenario, it’s conceivable that a major financial crisis, such as a mortgage crisis, could create conditions favorable for the adoption of digital currencies. Here’s how BlackRock and JPMorgan might potentially leverage such a situation:
- Loss of Confidence in Traditional Banking: A severe mortgage crisis could erode public trust in traditional banking systems. This could lead to a surge in demand for alternative financial products, including digital currencies.
- Investment in Digital Currency Infrastructure: If BlackRock and JPMorgan anticipate a growing demand for digital currencies, they might invest heavily in developing the infrastructure necessary to support their adoption.This could include exchanges, wallets, and blockchain technology.
- Promotion of Digital Currencies: Both firms could use their influence to promote the benefits of digital currencies, emphasizing their potential to provide stability and transparency in a crisis.
- Strategic Partnerships: BlackRock and JPMorgan might form partnerships with digital currency companies or even launch their own digital currencies. This could position them as leaders in the emerging digital asset market.
However, there are several factors to consider:
- Regulatory Hurdles: The adoption of digital currencies is subject to significant regulatory scrutiny. Governments may impose restrictions or outright bans on certain digital currencies, limiting their potential impact.
- Market Volatility: Digital currency markets are known for their volatility. A sudden downturn in the value of digital assets could undermine their appeal as a safe haven during a crisis.
- Competition: Other financial institutions and technology companies would likely also be interested in capitalizing on a mortgage crisis. This could lead to intense competition for market share in the digital currency space.
While a mortgage crisis could create opportunities for financial institutions to promote digital currencies, it’s important to note that the adoption of these assets is influenced by a complex interplay of factors, including regulatory, technological,and market-related considerations. Ultimately, the success of digital currencies will depend on their ability to address the specific challenges and needs of consumers and businesses.
Maybe if the derivatives market were to survive thanks to their Tokenized Collateral Network and this gives the market the comfort to move it into other places? Let’s say a crash occurs but it’s light compared to 2008 and the market thanks TCN? This most likely is the probability. Maybe they don’t take over the federal reserve right away but will slowly continue to tokenize the market over the years until everything behind it is tokenized and the only thing left is to switch?
It’s hard to figure out what the bankers are up to but the breadcrumbs they have left is fishy and to be honest, quite unprofessional. Kind of like blackrock’s links to both shooters aiming at Trump as they both were in blackrock commercials, apparently. What are the odds? Another odd thing is the CEO of Blackrock, Larry Fink has just sold 100 million dollars worth of shares in blackrock. What do they know that is coming? A crash. And while the crash is happening, let’s watch the derivatives market and see if the TCN holds it up. If it does, then it’s obvious manipulation and blackrock knows it. I can’t prove they are going to crash the market but they are betting on the derivatives market and that is a bold move considering what happened in 2008.
I got a lot of comments on my last video. A listener sent a comment which got me thinking.
XRP = All The Money 1 XRP = 1 Million Drops 100 Billion X 1 million = 100 quad trillion 1 XRP = $10,000 easily. Ripple / XRP = 150 years of a monetary system The New Financial System aka The Great Awakening.
Another listener commented Jeb McCaleb is Stellar Lumens XLM All the AI companies are using XLM. IBM uses XLM and HBAR , IBM is releasing quantum computers next year . Web 3.0 is ready to go.
I am not a finance guy. And I admit I can’t wrap my head around this. I’ve received more comments on my last video which makes me believe that I am on to something. Many say I am wrong and don’t buy it. I totally understand. But I do think this blackrock and jpmorgin derivatives play is forcing the hand of the people.
Another listener commented Expand your thinking this is going to be global. They will put everything on the block chain. It’s going to be massive. XRP doesn’t have a back door unlike Ethereum which’s has been tweaked multiple times . XRP ledger has validators across the world . XRP runs well on the ledger it’s the fastest token at 3 seconds. XLM is a 5 second tokens.
I asked AI how much of the financial system is tokenized:
The tokenization of the global financial system is still in its early stages. While there have been significant advancements, especially in the realm of cryptocurrencies and blockchain technology, a large portion of traditional financial assets remains untokenized.
Here are some key factors to consider:
- Regulatory Landscape: The regulatory environment for tokenized assets varies widely across jurisdictions. This uncertainty can hinder widespread adoption and investment.
- Technological Limitations: Although blockchain technology has made significant strides, there are still scalability and interoperability challenges that need to be addressed.
- Investor Education: Many investors are still unfamiliar with tokenized assets, their benefits, and associated risks.Increased education and awareness are crucial for broader adoption.
However, there’s a growing trend towards tokenization. Many financial institutions and asset managers are exploring ways to tokenize various asset classes, including real estate, securities, and commodities. This trend is driven by the potential benefits of improved efficiency, liquidity, and accessibility.
As regulatory frameworks become more established and technological advancements continue, we can expect the tokenization of the global financial system to accelerate.
As of now, a rough estimate suggests that less than 1% of the global financial system is tokenized. This includes cryptocurrencies and other tokenized assets.
If less than 1% of the financial system is tokenized, then the truth is Based on historical examples of technological adoption and market penetration, it’s possible that the full tokenization of the global financial system could take anywhere from 10 to 25 years. This timeframe is influenced by factors such as the complexity of the technology, regulatory hurdles, market acceptance, and infrastructure development.
For instance, the widespread adoption of the internet took several decades, with significant growth occurring in the 1990s and early 2000s. Similarly, the transition from traditional banking to digital banking has been gradual, with mobile banking becoming more prevalent in recent years.
While these examples provide some context, it’s important to note that the tokenization of the financial system is a unique and rapidly evolving field. The actual timeline could be shorter or longer depending on various factors.
I posted a TikTok video that took off just saying XRP will replace the dollar and watch my rumble live. That video got 30,000 hits! I never said anything either. Many were correcting me saying RLUSD will replace the dollar. Let’s check it out.
RLUSD stands for Ripple USD. It’s a stablecoin issued by Ripple, a blockchain technology company. Stablecoins are cryptocurrencies that are pegged to a traditional currency (like the US dollar) to maintain a stable value.
Here are some key points about RLUSD:
- Pegged to the US dollar: RLUSD is designed to maintain a 1:1 value with the US dollar. This means that one RLUSD token should always be worth one US dollar.
- Issued on XRP Ledger and Ethereum: RLUSD is available on both the XRP Ledger and the Ethereum blockchain, allowing for interoperability and broader use cases.
- Potential for cross-border payments: Ripple hopes that RLUSD can facilitate more efficient cross-border payments, leveraging the speed and low cost of blockchain technology.
RLUSD is a promising development but it’s still in its early stages, and its long-term success will depend on factors like market adoption, regulatory approval, and technological advancements.
Ummm I believe they’re arguing over symantecs. The whole point to my argument is all of this is banker designed and manufactured which will be centralized. A new control mechanism.
Theoretically, the software developers of cryptocurrencies could create backdoors to manipulate their own currencies. This could involve:
- Altering the code: They could introduce code changes that allow them to mint additional coins, control the supply,or even reverse transactions.
- Exploiting vulnerabilities: If there are security vulnerabilities in the cryptocurrency’s code, developers could exploit them to gain control.
- Using privileged access: Developers often have access to the cryptocurrency’s private keys or other sensitive information, which could be used to manipulate the system.
However, it’s important to note that:
- Decentralization: Many cryptocurrencies are designed to be decentralized, meaning that no single entity has complete control over the network. This makes it more difficult for developers to manipulate the currency without being detected.
- Community scrutiny: The cryptocurrency community is often vigilant in monitoring the code and behavior of developers. Any suspicious activity is likely to be scrutinized and exposed.
- Reputation risk: Developers who manipulate their own currencies risk damaging their reputation and the reputation of the entire cryptocurrency ecosystem.
While the possibility of backdoors exists, the decentralized nature of many cryptocurrencies and the scrutiny of the community help to mitigate this risk.
How cute that people think ripple couldn’t be hacked or manipulated by its own masters? I can’t believe the ignorance of those crypto experts who truly believe crypto can’t be manipulated like the current US dollar and other currencies.
So, the reality is, crypto will make its debut as a human staple in the next few decades regardless if Blackrock and JPMorgan will intervene before. It’s not a matter of if but a matter of when. Crypto is not an idea of the people as I have proved with David Schwartz. It’s been in the works since the late 80’s. Also, I do not do any investment in cryptocurrency other than own a few thousands dollars of it. I do not offer financial advice nor do I believe in the quantum financial system. Many scammers have been spoofing my image and videos making hundreds of thousands of dollars off the gullible. I would never reach out to anyone asking if they are ready for any financial reset or crash and offer an opportunity. Those are scams and you need to be smart about trusting anyone asking to move your assets. Have discernment!
Perhaps
Sources
https://coinmarketcap.com/community/articles/6658ee8b2b510b5449492d27
https://u.today/ripple-cto-turns-heads-with-sudden-satoshi-nakamoto-question