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Showing content with the highest reputation on 09/04/2020 in all areas

  1. For someone apparently so good at seeing through BS, I'm surprised you took this bait so quickly. They sure got you hook, line and sinker. I think that's why people suspect your motives - you didn't once apply any of your supposedly superior analytical skills to the announcement and identify any issues. If you had done that, you would have found lots of red flags to be worried about. Didn't see any of them? Here, let me help you: How does one "lock" liquidity? No amount of messaging, legal agreements or technology is going to "lock" liquidity unless the requesting bank is giv
    32 points
  2. New York-Tokyo distance is 10800Km. The light will take around 72ms to go back and forth and they can do bilateral agreements in only 50ms. They found something faster than light, it's groundbreaking physics .
    13 points
  3. Lending XRP is going to be a thing. Banks can/will simply borrow XRP at 1% and charge 2% to corp clients as access fee to the "international liquidity". I doubt they would expose themselves or their clients to any volatility, Market Makers take that risk exposure and earn a profit/reward from doing so. I dont understand what would be bad about a bunch of banks using an RTGS system for Ripple and/or XRP. Just seems like more banks available to join the real time IoV & RippleNet.
    10 points
  4. That is not the problem, it's who posted it and how he did it, again. The information about potential competition is good. It's about what comes after that. @LetHerRip takes an article, reads half of it and presents it as the end of times in the most aggresive and misleading way. Then he discards every post countering the information as that hurts his goal. He even calls others out for needing to grow braincells and learn to read while he misreads a marketing piece from a ceo and takes it for granted. The worst part is he completely shows his goal by blatantly telling member @Cambrid
    9 points
  5. Doesn't this introduce counterparty risk? Why should banks trust "RTGS Global", a private company? It doesn't matter if it takes just one femtosecond to switch from GBP to "RTGS Global bucks" (or whatever) and then to USD. It's not the time that matters. What matters is that the bank's money is held/custodied by RTGS Global for that tiny fraction of a second. Counterparty risk:- RTGS Global goes rogue RTGS Global goes bust / finds itself in legal trouble RTGS Global skims more than they promised off the final total RTGS Global gets all banks signed up, then changes i
    8 points
  6. This should be clearly explained:- Andrew (representing RTGS Global): "The platform delivers real-time liquidity which is not the same as provides real-time liquidity, or is the source of liquidity. The network participants provide the liquidity, and lets face it, they provide the majority of all the globes liquidity...." Galgitron's reponse: "The promotion of eliminating nostro is misleading. Your transactions result in post-transaction nostro held in foreign accounts in foreign fiat. This creates the same profound capital dilution, distribution and volatility risks as today's nostr
    7 points
  7. They say themselves it's patent pending so they've not even been granted a patent. All we have is their press release and a few news articles on this, with the (usual) shockingly bad reporting that fails to ask HOW this system moves actual value, and what exactly the counterparty risks are to bank A and bank B. We don't know the details of these highly salient points. All the press release says is the're no counterparty credit risk. All that means is that they can confirm both bank A and B have equal values of currency. This is a trivial message-layer thing. There's no talk of how se
    7 points
  8. I tend to agree with your overall premise but disagree on these specific examples. With respect to RTGS global what we have here is a press release about a solution they have designed but are far from delivering. Kinda like LIBRA. Also, as @Pablo outlined above nothing we have seen thus far from RTGS global indicates a threat on ODL. Perhaps XCurrent or perhaps SWIFT GPI. They made an announcement that their patent is pending and that they expect to roll this out commercially "sometime in 2021". I guess we disagree that Ripple have failed to deliver. I see them as being very successful
    6 points
  9. I have been in business for 40 years Rule one - when something comes for a malicious source don't treat it as truthful, and if you really have to deal with them do it with a long spoon. I strongly recommend "user Ignore" LetHerRip posts are full of gleefull malice. Looking at this story it is immediately obvious there is no digital asset, so it cannot be ODL and has to be some form of correspondent banking Correspondent banking depends of messaging and finding someone willing to buy your foreign currency for their native currency (that is prefunded liquidity) This st
    6 points
  10. It doesn't matter whether the post has valid points or not the intent of OP was to cause fear uncertainty and doubt.
    6 points
  11. Here's my view on it .. RTGS is not new.. it has been greasing domestic payment rails for years. But they've now come up with a process which puts a settlement layer on top of the old correspondent banking system that ensures there is liquidity to fulfil remittances on either side of the border... and also with the intention of keeping the (banker's) gravy train running.. This is how I understand it works ... according to the video here at http://rtgs.global Manufacturer in US at Bank A wants to pay Supplier in UK at Bank B For simplicity let's assume exchange rate is 1:1
    5 points
  12. I really recommend this video... @LetHerRip you should watch this, if you want a balanced view. Just as you accuse others of being blinded to fact, don't fall into the same trap yourself. You're coming off a little cultish yourself tbh
    5 points
  13. This wins the internet for me. That is EXACTLY what @LetHerRip and his fellow butthurt XRP haters are doing. They saw something that sounded like a winner, bought in and then bitterly complained as it didn’t work out like they hoped. Calling every one who ever said anything good about XRP either a liar or a fanboi. Gleefully gloating anytime they see a downturn or a competing idea. What a life they have.
    5 points
  14. And if this doesn't all pan out over the next two or three years are you going to come back here and endlessly complain about the 'lies'?
    5 points
  15. My analysis of RTGS Global is not very positive. In the 4th revolutionized world, everything will be tokenized. There are already platforms in the defi that enable users to issue their own stable coin with collateral assets. Every merchants will start to issue coupons that work like digital currency to efficiently manage market. It means there will be millions of coins just like there are millions of private websites. Who is going to connect all those coins realtime? Dollar? Dollar is already being abused with speculation. They have to print more dollar just to i
    5 points
  16. https://u.today/ripple-partner-joins-forces-with-streaming-giant-spotify Ripple partner dLocal to unlock Spotify Premium for unbanked Latin Americans
    4 points
  17. DLT giant Ripple has transferred 19 mln on the XRPL blockchain, meanwhile almost 80 mln XRP have been wired via an Asian ODL corridor that Ripple has not yet mentioned https://u.today/73-mln-xrp-is-sent-through-ripples-unannounced-asian-odl-corridor
    4 points
  18. From where I'm standing, you literally worry more if XRP moons than I care if it goes to zero (and I hold a relatively decent amount of XRP). You should care less. Maybe buy some XRP - might help ameliorate the hatred.
    4 points
  19. Bitcoin nearly completed a classic Head & Shoulders Patter which I've rarely seen with bitcoin. Once the neckline broke it was basically a free fall. The price briefly fell below $10k literally for not even a whole minute but it did break $10k. So we'll see how much of a bounce we get today. Again I see this as a buy the Dip. LTC at $50 ETH at 384 and XRP at .25. Take your pick.
    4 points
  20. This. The liquidity has to come from somwhere. Also Ripple didn't solve this problem. With ODL there is a shift on who is providing liquidity, but some capital has always to be locked to provide this liquidity.
    4 points
  21. I tweeted out your words to Andrew, here's his response https://twitter.com/pucksterpete/status/1301797096593526785
    4 points
  22. This! It's like crypto never happened/has been made redundant the way it's being described here by RTGS Global. It's also like SWIFT's considered setup to NOT rely on one entity has all been waved away too. Trustlessness? Nah don't need it. Counterparty risk? Bring it on, we can use a bit of that. What is this magic that RTGS Global are weaving that they can move value around so frictionlessly and easily that doesn't require either nostro/vostro or open markets or trustless blockchain tech? From what I've read, it's going to be (essentially) a mutable database run by a private busine
    4 points
  23. Please don't lie, I'd love it if you and the rest of the XRP cult bought more XRP. Rekktttttttt P.S. the information isn't false either but you would need a brain in your head instead of this to see it
    4 points
  24. Looks to me BTC is headed to 9500 and we to .225 As long as we can hold those levels and dont drop below, I remain bullish.
    4 points
  25. Oh shiaatttt is right, as in MicroShiaatttt! Microsoft is the King of closed-source BS. A lot of these banks will have to learn the hard way, and rightly so - they deserve to get milked by Microsoft. The old financial system with its free-money printing press is going the way of the dinosaur as is the King of closed-source (patent pending) bullsh*t software, MicroShiaatttt. It's bad enough Microsoft has gotten away with making crap software for so many years, but now they are going to combine their closed source software with the movement of large sums of money!? That's as smart an
    4 points
  26. From what I've read I think this revolutionary patent pending software probably looks something like this..... SUMIF(bankA has money,bankB wants money)
    4 points
  27. Sounds like Correspondent Banking, except not going through SWIFT. Cant do ODL like this, because the Liquidity has to already be provisioned at the destination bank and the sending bank. So those two banks would have a direct relationship. I'm not sure many folks fully understand how the "network effect" that Ripple is building works for banks, but correspondent banking will not create the same network effect, even with 1 million banks using it. It is still a bunch of bilateral connections, rather than a hub & spoke model like XRP as a bridge currency which puts any two currenci
    4 points
  28. @LetHerRip did xrp run off with your wife? What do you hate about them? Did you buy and sell emotionally? Is that it 😅
    3 points
  29. @LetHerRip comes across as someone dumping his pain onto others. His Harold-hide-the-pain avatar is highly suitable me thinks.
    3 points
  30. 3 points
  31. Everything including the kitchen sink was thrown at the price to drop it briefly below $10k.
    3 points
  32. I mean, who knows right? But these are the targets and supports that I saw a few weeks ago and I'm not going to get caught up in the emotions and start projecting things differently. It's funny, we always lament that we would like something to drop so we can buy more at "X price" but, when it actually falls to that price, all of a sudden you don't want it anymore and are expecting more of a drop. I try hard to control emotions. I have settled my mind that digital currencies are going to be in for a hell of a run over the next few years as the security of fiat is destroyed and
    3 points
  33. The OP made a very valid post, evidenced by the productive debate that’s being had now. I fail to see why people keep calling things like this FUD. We can’t just be one sided and ignore these things, that does nobody any good.
    3 points
  34. happy I sold , will rebuy in some days
    3 points
  35. LetHerRip is such an arrogant, smelly piece of garbage. I'll believe this tech when I see it. It sounds to me like a last gasp to hold onto legacy giants and the power they hold over all other players. Good piece of FUD, though.
    3 points
  36. Wow. banks can now send encrypted messages to each other in 300 millisecond over a network. How revolutionary. I have been doing this in my job since 1998.
    3 points
  37. "Available" to 43K banks, not on-boarded banks yet, or even any mention of estimates of those intending to utilize it. A key question is that of the necessary software, what's involved in it's integration, (how long, how hard and how seamless?) and significantly, the usage fees. A strong competitor; or ultimately even the "winner;" quite possibly; but at this point it's only an initial stages announcement, and it won't be until "Autumn" that we have any real idea of what the scope of this announcement will ultimately mean. The ability to integrate with existing infrastructure and the associate
    3 points
  38. https://rtgs.global/news/rtgs-global-unveils-its-network-to-transform-international-payments-making-interbank-liquidity-visible-for-the-first-time London, UK: 3 September 2020: RTGS Global, the world’s first cross-border liquidity network has launched Stage one of its operational rollout. RTGS Global has collaborated with Microsoft to develop a transformative new system which enables banks to gain complete visibility of liquidity between their counterparties, for the first time. Built on Microsoft Azure, RTGS.global promises to completely overhaul the machinery of correspondent banki
    2 points
  39. https://u.today/can-xrp-fit-in-christine-lagardes-vision-of-eus-future-economy-ripple-ceo-might-just-think-so Recently, Christine Lagarde has described a technology crucial to the EU's future economy and it matched the description of XRP; it also got Ripple CEO's attention
    2 points
  40. It's a clever idea because the banks do not want to use cryptocurrency. They will try to make this work as much as possible because it is in their interests plus it makes them look as if they are doing something to bring down the costs and friction. Why is the US SEC not giving clarity to cryptocurrencies and XRP in particular? Is it because they want to delay adoption so that more solutions like this can come through and stop the tide of something they cannot control - I think, within the government, it is more like keep the status quo for as long as they can because of ignorance of the poten
    2 points
  41. While I see where you’re coming from and understand what you mean, he’s just stating his opinion, which is his right. We don’t have to call him a FUDster or insult him for it. We all have our views. Fighting with him in the first place leads to fruitless, endless debate about the he said she said finger pointing instead of focusing on the good parts of his post. He presents it in a way that ticks a lot of people off. Oh well. We can all choose to ignore the part that doesn’t contribute to healthy debate instead of starting a fight that leads nowhere productive. This thread,
    2 points
  42. ^ No one is calling this FUD, just pointing out it's from a butthurt fudster is all. It's a valid thing to look at the sources of information as well the evidence.
    2 points
  43. I went through a few Odgen's presentations. It's similar to Ripplenet but not exactly the same. 1) So RTGS Global came up with proprietary software distributed on Microsoft Azure cloud servers. Banks will have to log in to the servers and use the software, I imagine. Bank A and Bank B want to transact, so the software verifies the liquidity for the amounts in both banks, then locks up that liquidity in to a block, one for each party and when the transaction is given the green light, the software swaps ownership of the locked up amounts, (in milliseconds) then I think writes the transact
    2 points
  44. 2 points
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