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  1. 53 points
    Late last year, Xi Jinping gave a speech declaring that blockchain technology presented an important breakthrough on several key areas within China and that the government intended to utilize the technology. Xi Jinping claimed that the development of distributed ledger technology provided a pivotal moment in which it allowed the Chinese state to reform and improve the inefficiencies found within the Chinese financial market. Stating that “It is necessary to explore the application of ‘blockchain’ in people’s daily life, and actively promote the application of blockchain technology in the fields of education, employment, pension, data-driven poverty alleviation, medical health, anti-counterfeiting, food safety, public welfare, social assistance, etc”. (1) Xi’s speech was in stark contrast to China’s previous posture on blockchain technology, specifically on cryptocurrencies such as BTC. But the public statement displayed that the Chinese government had finally come to an understanding on the potential blockchain technology can provide to the state. Unfortunately, most crypto evangelists took the speech to mean that the Chinese market was opening itself to the publicly traded cryptocurrencies found in crypto exchanges. An appreciation in the total crypto market capitalization only reinforced this notion that China was simply going to adopt the current, open source blockchains present. Weeks passed and China’s historical stance on cryptocurrencies was further fortified when several crypto exchanges halted or ceased services amid speculation of a crackdown within the country. (2) A contradicting development to Xi’s previous speech earlier in the year. However, there has been collaboration and developments by the state in the background that would corroborate Xi’s statements. Financial Access 2020 The foundation was laid at the 2015 World Bank Group–IMF Spring meetings. These meetings resulted in the establishment of the Universal Financial Access 2020 (UFA2020) initiative. The World Bank Group along with both private and public sector partners, committed themselves to promote and enable global financial inclusion in a multi-year program. With the intentions of enabling individuals who are not currently connected to the financial system, to have access to a transaction account to store money while also being able to send and receive payments. Setting a goal of enabling one billion unfinanced individuals to gain access by 2020. Their approach being the development of a platform that has a biometric identity database, virtual payment addressing, and digital payment interoperability. (3) At the time, there were over 30 partners that committed towards the UFA2020 initiative. Participants that now include the likes of Alipay, Du Xiaoman Financial (Baidu), BBVA Microfinance Foundation, CFPA Microfinance, Confederation of West African Financial Institutions (CIF), MasterCard, Pakistan Microfinance Network, State Bank of India, VISA, etc. (4) With each of these partners doing independent projects or collaborations to meet the UFA2020’s target. One such program that was spawned from the UFA2020 initiative, was the Financial Inclusion Global Initiative (FIGI). A three-year program formed by the collaboration between the World Bank Group, the Committee on Payments and Market Infrastructure (CPMI), and the International Telecommunications Union (ITU). The program is funded by the Bill & Melinda Gates Foundation. (5) Their collective goal is “to support and accelerate the implementation of country-led reform actions to meet national financial inclusion targets, and ultimately the global ‘Universal Financial Access 2020’ goal”. (5) This subgroup plans to utilize the “work of the CPMI-World Bank Group Task Force on the Payment Aspects of Financial Inclusion (PAFI), the BMGF’s Level One Project, and the ITU Focus Group – Digital Financial Services, to deliver implementation solutions, deep topical analyses and practical investigations, working toward the goal of Universal Financial Access by 2020”. (5) Bill & Melinda Gates Foundation’s Level One Project is recognized by followers of Ripple due to the project’s development and intention of utilizing the Interledger Protocol to address interoperability between financial systems while helping lower the costs in developing inclusive payment platforms. Thru panels held at the FIGI symposiums, there is apparent dialogue and collaboration between the FIGI organization, the World Bank, and Ripple. (6) China The main purpose of the FIGI receiving grant money from the BMGF in 2017, was to accelerate financial inclusion in developing countries. With three countries being selected to be the focus of the initiative. Those countries being Mexico, Egypt, and China since they contain millions of unbanked individuals. (7) Ultimately, the development and progression of the initiative will be used as models for digital financial inclusion innovations around the globe. And regarding the selected countries, the People’s Bank of China (PBOC) specifically requested support from the World Bank Group to aid in bridging the gap between the Chinese financial system and their citizens found in remote areas. (7) Interesting enough, the FIGI initiative aligned with other partnerships and projects in 2017. Partnerships that were composed of Ripple, Huawei, Mojaloop, etc. As some in the Ripple/XRP community might remember, officials from the PBOC visited the San Francisco Ripple offices in August 2017. (8) The community speculated on numerous possibilities on why Ripple was being visited by PBOC officials but there was no disclosed explanation of the meeting between Ripple and the PBOC. But looking at other announcements from 2017 chronologically, some perspective on the PBOC and Ripple meeting can be gained. First, the PBOC sought guidance and help by the World Bank Group to foster financial inclusion innovation within the country. The FIGI under the UFA2020 initiative, choose China to be one of the three countries focused on fostering innovation early 2017. In August 2017, the PBOC visited the Ripple offices in San Francisco. Two months later, BMGF and Ripple’s collaboration and development on Mojaloop was publicized. (9) Yet one aspect of the announcement on Mojaloop that was overlooked was that four mobile systems companies were brought to help develop an Open API for mobile money interoperability. Those companies being Ericsson, Telepin, Mahindra Comviva, and Huawei. (10) And with a document from the International Telecommunication Union (ITU) on “Digital Currency including Digital Fiat Currency”, we know that the Mojaloop API was designed by the four mobile companies that included Huawei. (11) Huawei and the BMGF have also been collaborating on promoting interoperability and financial inclusion since the previous year. Late 2016, Huawei announced partnership with the Gates Foundation on the Level One Project. (12) With the partnership focusing on developing “scalable, low-cost, interoperable and fraud resistant payment systems will be based on open Application Programming Interfaces (API’s) and help people in the world’s poorest regions improve their lives and build sustainable futures by connecting them with digitally based financial tools and services”. (12) Coincidentally occurring right when the Mojaloop API was being developed in the same Level One Project. Nonetheless, the Mojaloop API seems to be both an innovation and solution both Huawei and the BMGF sought to develop in their partnership. We know that the BMGF and Bill Gates himself, have been aware since 2016 ,of the potential revolution the Interledger Protocol can bring to the financial system1d. With Bill Gates even recognizing how Ripple’s technology can move money across countries efficiently and cheaply. (13) Although Ripple’s known involvement in China is thru LianLian Pay and some possible penetration thru third parties such as AirWallex, there appears to be a potential utilization of the Mojaloop API thru Huawei in FIGI’s project within China. This can potentially explain why Ripple expanded into China with the opening of offices in the country. (14) Outside FIGI Outside of FIGI’s scope in China, there are other developments with UFA2020 affiliates forming and investing in projects that could leverage the Interledger Protocol. A recent example involves a group of Ripple investors and partners raising capital for Currencycloud. Currencycloud is a UK startup that has developed remittance APIs that allows any financial business to integrate money transfer services thru Currencycloud’s platform. A duo of Ripple shareholders in SBI and Siam Commercial Bank participated in the Series E round for the UK startup. But interesting enough, VISA and the World Bank Group’s International Finance Corporation also partook in the series round. (15) Two key members of the UFA2020 initiative. These investors intend to promote and utilize Currencycloud’s API for cross-border payments. While VISA has also entered a partnership with the UK startup. Thrugh the partnership, VISA plans to expand and improve their services by using Currencycloud’s platform. (16) Yet Currencycloud has another notable partnership with the Ripple associate, DWOLLA. DWOLLA is not only known for sharing a seat with Ripple on the US Faster Payments Council but more importantly, for their collaboration in developing the Mojaloop platform. (17) DWOLLA will be leveraging the UK startup’s platform to expand their network for coverage on 38 currencies in 180 countries. (16) And on a final note, Currenycloud has an impressive group of clients that includes The Bill & Melinda Gates Foundation. (16) Furgther adding another affiliate to the assortment of UFA2020 and Ripple partners involved with Currencycloud. (16) Looking at announcements or projects through the perspective of promoting and expanding the Universal Financial Access 2020 initiative, one can conceivably see the purpose and structure of collaborations done by Ripple associates to possibly promote adoption of the Interledger Protocol. 1. https://medium.com/@mablejiang/xi-jinpings-speech-at-the-18th-collective-study-of-the-chinese-political-bureau-of-the-central-1219730677b2 2. https://cointelegraph.com/news/china-5-crypto-exchanges-halt-or-shut-services-amid-perceived-crackdown 3. https://www.worldbank.org/en/topic/financialinclusion/brief/achieving-universal-financial-access-by-2020 4. https://ufa.worldbank.org/en/partners 5. https://www.worldbank.org/en/topic/financialinclusion/brief/figi 6. https://twitter.com/DougMPearce/status/936176649963388928?s=20 7. https://www.devex.com/news/3-model-countries-selected-for-a-new-financial-inclusion-initiative-90778 8. https://twitter.com/Ripple/status/902201846592184320?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^902201846592184320&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fripple-talks-with-peoples-bank-of-china-key-to-chinese-blockchain-market 9. https://ripple.com/insights/news/ripple-the-gates-foundation-team-up-to-level-the-economic-playing-field-for-the-poor/ 10. https://www.gatesfoundation.org/Media-Center/Press-Releases/2017/10/Bill-Melinda-Gates-Foundation-Releases-Open-Source-Software-to-Expand-Access-to-Financial-Services 11. https://www.itu.int/en/ITU-T/focusgroups/dfc/Documents/FGDFC-O-003.pdf 12. http://carrier.huawei.com/minisite/software/mobile-money/foundation.html 13. https://ripple.com/insights/why-bill-gates-believes-2016-will-be-the-year-of-financial-inclusion/ 14. https://www.asiacryptotoday.com/ripple-plan-expansion-to-shanghai-china 15. https://techcrunch.com/2020/01/26/currencycloud-nabs-80m-from-visa-world-bank-group-and-more-for-its-cross-border-payments-api/ 16. https://www.currencycloud.com/company/clients/ 17. https://modusbox.com/announcing-mojaloop-io-an-open-source-software-platform-for-financial-inclusion-to-uplift-the-worlds-poor/
  2. 35 points
    Lumpy

    The Jed Attack

    Although never confirmed by Jed McCaleb, the "tacostand" XRP wallet (rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv) is well-known to belong to him. A quick look at the wallet and its transactions (https://bithomp.com/explorer/rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv) and you will quickly notice that Mr McCaleb manages his funds following a very strict routine. Every morning at 08:02 UTC, 1.7M XRP are sent to another wallet. The so-called wallet, activated by Jed, is then "in charge" to sell the XRP. A rigorous routine is also in place. Wait 09:00 UTC and you will see on the ledger the first "create offer". Offer that is usually selling 1M XRP for USD Bitstamp (IOU). Keep an eye on the XRP:USD.Bitstamp orderbook and you will see that the order is algorithmically managed. The price (exchange rate) of the limit order is, if needed, constantly adjusted. As an example, last Thursday (2020-02-20), the limit order was canceled and re placed 13 times. Jed aims to sell the XRP. So making sure that the order is at the edge of / a competitive price on the orderbook is obviously necessary to make sure that the order has the best chance to be filled. However, this Saturday morning, 22 February 2020, Jed's automated bot sold 1.7M XRP for ... $188,456 USD, meaning that it sold at an approximate XRP:USD price of ... 0.11 USD. The price this Saturday morning being around 0.271 USD. Details of the transactions: https://bithomp.com/explorer/E470541E262C6DA171CFCBBD7A115A0F12EADE6B21360DDDC936723093CF6528 https://bithomp.com/explorer/4D705B1F0EC0C4B3DD01198EBDC01345528067F5CC3C280FB16D1C1FED9A8636 https://bithomp.com/explorer/AD536145D6F76EF8E019E897C200F4635DD20ABEE8EC2B20C9140706057C5E5D A trade has two legs, one buyer and one seller. Selling at a discount of 0.59% means that an individual (or group of individuals) made approx 270,000 USD of profit this morning. Luck or Jed's bot potential extreme generosity is not, as you guess, the explanation of the dramatic event. The attacker (https://bithomp.com/explorer/raBmhBNmYFGe5hJ5Gez2MbpNspewctCAGv) is smart and has been working hard to prepare his/her/their coup de grâce. The wallet sold this morning around 1M XRP, cleaning all the liquidity / depth of the bids side of the orderbook, then placed the first killing order (1) that Jed's bot decide to take, then the second killing order (2). Jed's bot also hit the bid for the latter. (1): https://bithomp.com/explorer/FEDC30F932389FC34D126172E26ACD10D79CAD78ACEA360B44B82ABA25868087 (2): https://bithomp.com/explorer/0E3372A2F43154B02100CEF29C941FBC85084EF2BDCA65FA7DCD4ACA709F214E The attacker does not act alone. Sub-wallets 1 (https://bithomp.com/explorer/rHjzw8L2ZBNhLfWw3yv8AY1hf1QYnRMriR) and 2 (https://bithomp.com/explorer/r9ujfsgebDGPEoQP7WFYcVrhEKQZPKVGd7), activated by the one mentionned above, looked like to have specific roles. Mostly create counter orders, allowing front running kind of strategy. To be continued... Many interesting unanswered questions: - What was the specific technical flaw the attacker took advantage of? - What is the profitability of the attack? (taking into account potential front running costs - previous tests / iterations before finding the flaw) - Will the attack repeat itself tomorrow? / Had Jed noticed the event? Etc.
  3. 33 points
    Hi, Nicolas Steiger ( @Nicolas ) is the co-founder of FlashFX the FI that was “Born to make money transfers simple, fast, and fair.” FlashFX use ODL. https://www.flash-fx.com/ He gave an interview to @CryptoEri and has generously volunteered to continue to answer questions here. I will endeavour to keep this post edited with the questions so that Nicolas can easily see what we are asking. Please just ask questions in this thread and Nicolas may answer directly... I will also try to maintain the list of outstanding questions here. Nicolas we really appreciate this and realise that you may not be able to go into every aspect for business reasons. Oustanding Questions: What is company’s future? The questions and answers are continued over next posts: Is the limiting of ODL capacity automatically handled by software or is it a manual control? Eg if liquidity on target exchange was drained by a third party transaction would ODL see the cost was too high and pause? A: ODL flow will automatically exchange currency/xrp on either exchange once the initiating entity agreed the pre-quoted price. There is always back up liquidity from market makers, so if an order book is hit by a bigger market order, liquidity is immediately replenished by those market makers. What kind of growth are you expecting over next 1-2-5 years? A: We're expecting great growth expansion from RippleNet and will drive ODL two-way flows to all available end-points. On a B2B side and our ability to process payments from RippleNet into Australia via NPP in real-time, we're expecting to pinch a few high-profile contracts from bigger players who can only process same day AUD settlement. FlashFX has and will continue to evolve around Ripple capabilities How many corridors do you see yourself active in next year? A: So on ODL I thought it was possible to have 20 different send / receive end-points by end of the year in general. For us, we are connecting to any available ODL destination and in the meantime will partner with any available RippleNet participant, for end of Q1we will have 3-5 additional ones and the pipeline for Q2 is filling up fast with interested parties wanting to connect to FlashFX. Can you comment on the growth of current corridors you are doing business in? A: For us PHP was completely a new corridor so it will take time to develop. Having said that we will later in Q1 enable a new partner that will drive some tremendous growth and flow in AUDPHP. USDbitstamp is something we have been doing using IOU for the past 2 years, we'll continue to push this corridor and we have a number of clients that seek to increase and re-activate their USDbitstamp activity. Its also dependent on overall crypto flows and demand. How much cheaper is ODL compared to the other services? A: I dont have hard an fast fact and numbers on this yet, we are still evaluating this and in the meantime please rely on official Ripple numbers. For us with expansion on RippleNet flow whereby we can save on Bank swift fees is already a big win. Transaction fee compression will continue in all markets. We've started FlashFX by not charging the end-user any transaction fee, so while the user might not see a difference per se, our operational cost structure will improve. Would it be possible for us to watch the volume growing as the service matures? A: I believe I found a link on this forum that tracks the flows on these exchanges however I am not yet sure that this is accurate ODL flow. Would need to investigate further and match up. For now, we're just focused on generating flows in any market where we can. Is the present price, .22, restricting your ability to grow your volume of ODL transactions? A: The utility of XRP as a digital assets works with any price point, the liquidity matters most to facilitate payments from A to B. Will you provide public facing APIs for data hounds to poll ? A: We have API for our clients to transact payments and integrate into FlashFX however I believe the exchanges will provide sufficient access to data for data hounds. What are the constraints and costs for replenishing fiat capital reserves consumed by trades at the endpoint of a one-way corridor ? A: That question relates more to issues we previously had when we only had our own liquidity dealing with IOU. That was our initial AUDUSDbitstamp flow. We had to manage the FX and send the fiat back to Bitstamp. Not effective way in the long run. Now with ODL at lot better and theoretically we have unlimited liquidity pool through external market makers. I know your main ODL corridor is AUD/US. Since Bitstamp is not located in the US, how does the money get to a US bank account? Does it need to be wire transferred to a US bank, or does Bitstamp connect to US banks? Our AUDUSDbitstamp is for user who wish to have USD liquidity on Bitstamp only. We can't yet facilitate payments into the US and we hope this can be resolved soon. So depending on the destination of the users transfer, we use traditional FX and swift for US payments but if someone wants USD on Bitstamp or on their Ripple wallet it will go via ODL. Eventually USD ODL will be used for local US distribution. The issue is largely a licence issue. A Financial institution would need to have 50 licences for every state to make local payments. Having only a BitLience for NY does not help for NJ, or other states (basic example). Does FlashFX have any plans to operate a Ripple node? Is that something you had to consider or discuss? A: We have been running a Ripple gateway for years and are also running a validator for our on-ledger transfers. Do you handle KYC/AML with in-house programs, or have you used/integrated another service? A: We have both but in large part we do KYC/AML, PEP sanctions and transaction monitoring at onboarding and transaction level for sender and recipient. It a must have and largely automated, with manual review where needed. https://www.prnewswire.com/news-releases/international-payment-transfer-provider-flashfx-enhances-additional-customer-on-boarding-security-through-4stops-kyc-and-anti-fraud-solution-300781882.html How will pull payments work? Is it a FlashFx implementation or a function of Ripple or XRPL? A: I know on NPP there will be a pull function soon however the sender still needs to confirm obviously. I am not across this function on Ripple yet. Need to investigate. Thanks. Are there new uses you imagine FlashFx filling in the future? A: More and more what we do is B2B, where 3rd parties use our infrastructure to make international payments. Think credit unions, digital banks etc. They like the mix of traditional and innovative ways to make international payments. The other new one for us having overseas banks using us for local distribution in Australia, where we seek to take away this service from traditional banks who are not efficient, tech-savvy and are not on Ripple. Was that really you in the chatbox on the site? A: I really like to engage with all customers on the chat box. We want to help everyone and I am happy to engage as much as I can.
  4. 26 points
    For those of you whom have not been following our posts in Molten's "MGI ODL Bitso Theory About Price" thread, here is a quick re-cap. And then is my report on what trading event we captured which occurred just a few hours ago (see pics below). A few of us "chart watchers" and data miner/coders like myself, have been probing the mysteries of ODL from the angle of acquiring and charting publicly exposed API data and related metrics. If you read my last posts yesterday on Molten's thread, I explain about the new "slippage estimator" chart (see below) which is running in "pre-alpha" right now (labels are borked up, and I've not even performed some dogfooded Q/A on the hard numbers yet, so please be kind lol). Now, re the "Event" at Bitso this morning... Please review these two charts below - the blue Hourly Volume chart show two spikes of trading, the latter I think are ATH spikes for a single hour of trading. The second (more psychedelic chart) is described in my referenced post from last night, but in essence, it's approximating the friction (slippage overhead) of ODL trades of various USD amounts by the hour, over last 48 hours. What you see is the (assumed automated?) ODL processes jumping on a profit window of opportunity which apparently got booked on one of the two exchanges (NEED MORE DATA!!). This may sound silly, but this is what some of us find exciting af hahahaha !
  5. 24 points
    I think that's how most of us feel with each post of yours we read.
  6. 20 points
    In our efforts to support the XRPL, XRParcade has launched an XRPL validator Public key: nHUKu9X9C4SoQ3RhcRiu18ZmNnTAsPgxxE7M7x8Fee9bLDcret5N https://www.xrparcade.com/news/xrparcade-validator-is-live/
  7. 20 points
    KarmaCoverage

    Crypto in a divorce

    * I am not a lawyer. This was under Florida state law. There was nothing legally ground breaking, but I figured I'd share how the crypto was addressed. Basically they treated it as a "property" or an "investment" (like a stock). I almost had to pay out on the appreciation of the XRP that occurred during the term of the marriage, but since I have never sold, and bought pre-wedding, the XRP was considered "a pre-marital asset". Therefore she had no rights to make a claim on the appreciation. It did become a potential issue that I had moved some XRP between wallets during the term of the marriage. I had several wallets with XRP in them from testing stuff for KarmaCoverage back in the day, and I consolidated them into a cold wallet during the term of the marriage. The XRP is still in my cold wallet, and since I never moved it from there, I could prove that ownership never changed, and that I had not sold, or cashed out. They were trying to say I was hiding funds, I wasn't. Then when they finally understood that it is a "Public Ledger", and that hiding stuff is impossible, that ended that bs. All and all I came out unscathed, and kept all my XRP . I even offered her $X, then she argued, and got 25% of $X, lol.
  8. 18 points
    ManBearPig

    Charting the course of XRP

    Do you get the same feeling when you get in line at the grocery store and come to the realization that you picked the slowest line, so you move to the other line. Then they open up a new checkout lane and you rush to that one but not before being beat by Momma Cass and her semi-weekly 300 dollar loaded cart. Now your ice cream is beginning to condensate and your worried the milk might be getting too warm. To top it off, you just realized you forgot the mango salsa you always wanted to try. The point is, don’t make it too complicated. Diversify, buy the dips, and Hodl.
  9. 18 points
    Just a FYI for UK-based XRP holders... as the title says, this is great for UK holders of XRP because it creates a fast and secure route from XRP into GBP fiat withdrawals specifically. The announcement is available in the App. Quoted settlement time is 15 mins, and max withdrawal limit is £25,000! Treat yourself.
  10. 18 points
    SquaryBone

    XRP and Ripple adoption is real

    I'm frequently listening to the Anthony Pompliano podcast. Last week it was with Peter Johnson. What struck me is that at some point Peter talks about remittances to Mexico and how it's taken off using crypto on BitSo (Ripple and XRP anyone?): 2.5% of all remittances are done through Bitso. Anthony is surprised and starts talking about this meaning that average people figured out 4 different things on crypto which is quite incredible (2:59; go watch it for his specific wording). Peter's response is that all of this is abstracted away (must be certainly Ripple and XRP by now :p). And after a lot of beating around the bush he literally says Ripple and XRP is doing these remittances and abstracting the complexities of crypto away. Hearing someone like him talk about Ripple and XRP getting adoption on a BTC centric podcast is astonishing. It shows that their strategy is paying of and that they are getting traction. Expecting users to understand technical details on crypto is just silly (I've heard some very vocal people on that in the bitcoin community; I'm a bitcoin bull though). This is why I fully believe crypto will be something in the background (except for BTC as "digital gold") just like TCP/IP is on the internet. I'm not saying XRP will moon now, but certainly something started moving. I forgot all about this it until I see the below video coming up in my feed today. All credit goes to BankXRP for making this montage (I think he did a great job getting the parts that are relevant):
  11. 17 points
    Are they actually going to do anything? It's just been a PDF fest for the last 3 years. How exciting..
  12. 16 points
    VISA direct is a network, not a liquidity provider. It sources liquidity from Nostro/Vostro relationships in the large banks around the world. Having funds available in your VISA credit/debit card within 30 minutes does not translate into actual value having been moved. Why do you think credit cards have insane fees? Because they are a risk taking intermediary who deliver services between banks and customers. Anyone who has had their Credit card information stolen knows this. https://usa.visa.com/run-your-business/visa-direct.html
  13. 16 points
    Sumitomo Mitsui (mega bank)Invests in SBI R3 and Money Tap Using Ripple Technology https://translate.google.co.jp/translate?hl=ja&sl=ja&tl=en&u=https%3A%2F%2Fjp.cointelegraph.com%2Fnews%2Fsmfg-invest-sbi-r3-and-moneytap SBI CEO Kitao had previously considered combining R3 and Ripple. It appears to have started with one of the megabanks, Sumitomo Mitsui Bank. Sumitomo Mitsui Bank invested in R3 and Money Tap. Kitao CEO is considering using XRP for money taps. And Yahoo Japan and LINE, the most famous messenger in Japan, have been merged. Yahoo Japan's QR code payment apps PAYPAY and LINE are considering integrating Money Tap. And Seven Bank, the banking division of Seven-Eleven, which has largest ATM in Japan, also invests in MoneyTap. Money Tap may be largest XRP wallet in Japan in the future. And it will go into the world. Because SBI is asking Ripple to invest in money tap. Sumitomo Mitsui Bank Wiki: https://translate.google.co.jp/translate?hl=ja&sl=ja&tl=en&u=https%3A%2F%2Fja.wikipedia.org%2Fwiki%2F%E4%B8%89%E4%BA%95%E4%BD%8F%E5%8F%8B%E9%8A%80%E8%A1%8C
  14. 16 points
    mrhat75

    XRP and Ripple adoption is real

    2 years from now you'll have a highly used coin in the real world by big players: XRP. You'll also have a coin that has failed to have much of a use case, has proven time and time again that it hits a glass ceiling when trying to scale, and has a garbage centralized 2nd layer solution that still can't scale reliably: BTC. Remind me again why people would see BTC as digital gold over XRP at this point? It's all propaganda and hype driven by the big pockets/powers that be. The farce won't continue and I absolutely welcome the demise of these people. We've endured years of psychological warfare and bs from them and I'm just grabbing popcorn watching it all reverse.
  15. 16 points
    QWE

    Epic Pennant on BTC Chart

    I would argue the theory that Ripple is now doing an IPO because they won’t be able to sell 1 billion XRP per month if the price hits 10 USD is one is the least likely. First off, they have been strictly limiting their sales according to the volume on exchanges (0.4% of total volume in Q3 2019). If Ripple were to sell 1 billion XRP at 10 USD/XRP, the monthly volume on exchanges for XRP would have to be 2.5 trillion USD. The average daily volume for XRP would need to be 83 billion USD. If the volume actually was that high, then there would also be a good possibility the market could easily swallow up the 0.3 billion USD Ripple would be throwing into it daily. We are, however, currently far from that. In reality, if XRP was worth 10 USD today, with a daily average volume of 200 million USD, per their own restrictions, they could only sell 80k XRP per day, or 2.4 million XRP per month. That means every month, there would be 0.997 billion XRP of the 1 billion XRP going back into an escrow. Of course, it is doubtful the volume would stay that low with the price per XRP so high, and as we saw in the December 2017 bull run, the volume logically quickly picks up. Ripple literally announced they are limiting programmatic sales in advance and has now followed through their promise. Is this not what we all wanted? Bitcoin’s estimated annual mining costs at this moment are 3.5 billion USD (https://digiconomist.net/bitcoin-energy-consumption ), which means BTC miners have to cash out 300 million USD per month just to pay the electricity bills alone. Per Ripple’s last market report, they sold zero on the market and 13 million USD worth of XRP to institutions. Comparing both coins, in the last 3 months, BTC miners cashed out about 900 million USD to pay for electricity, while Ripple cashed out 13 million. Again, BTC miners cashed out 70x more USD compared to Ripple in Q4 2019. You are right to trust no one and be careful in this market. But I am flabbergasted at how so many people started worrying once Ripple hinted at a possibility of an IPO. Critics always accused Ripple of selling XRP to fund their business, but the moment Ripple limits their XRP sales and finds an alternative way to get money, everyone loses their minds. Like you, I can only speculate why they are doing an IPO. It could be to raise more money in the future, it could be a better argument against the SEC about XRP not being a security, or it could be early investors wanting liquidity on Ripple stocks to catch some profit. It could be some reason none of us yet thought of. Whatever the case, any new shareholder will want what is best for XRP, because it represents the majority of the company’s current 10 billion USD valuation (as per their last investment round). Imagine being a Ripple stockholder right now. Would you not want what is best for XRP, since the price of XRP directly affects the price of the stock you are holding? If not, it would be like investing in an oil company and not caring what is happening to the price of oil on open markets. And to conclude this long post, I would like to again highlight the fact that Ripple has obviously significantly limited their XRP sales throughout 2019, despite the fact they had 1 billion XRP available per month. What’s more, they limited their sales in correlation to volume (down from 0.4% in Q3 to 0.08% in Q4), so Ripple sold less because they chose to do so, not because they could not sell at all. This means that in the following months, Ripple (by far the largest XRP holder) will basically stop their XRP sales, while BTC miners will continue to cash out about 300 million USD per month, because they still have to pay the bills. With this fact in mind, doesn’t XRP seem like a better investment, speaking purely supply/demand wise?
  16. 15 points
    jbjnr

    Moderator question: Ban from thread?

    Dear moderators, please feel free to move this thread to somewhere else as I was not sure where to put it (I expect there's a section for this kind of thing) I find xrpchat increasingly unreadable (and I doubt I am alone) due to the pointless contributions made by a significant number of posters who appear to have no reason to be here other than to criticize other posters, post their annoying comments about price movements or spread FUD-like nonsense by commenting constantly about how awful ripple are, how much in the red they are, etc etc I can ignore these posters and do so frequently, but their comments still appear as quoted references - and - wonderful though they try to be, some xrpchat members feel that they have to correct these posters, by pointing out where they have made a mistake, making the threads they hijack longer and giving the trolls the airspace that they crave so desperately. Every pointless comment by an 'unhappy investor' leads to ten further comments that do nothing for the quality of xrpchat and only serves to bring it down to the level of the rest of the internet. A solution that comes to mind is a 'ban-from-thread' feature that the creator of a topic would be able to use to ban further contributions to that thread alone by users who try to hijack it, or who post off-topic comments that degrade the thread quality. The user who starts a thread would have free reign to prevent any poster that wants to hijack the thread from adding to it. (If the trolls want to create their own threads devoted to their own topic, then they can do so). Can it be done? Thanks
  17. 15 points
    Dear Moderators Can you please put a stop to the constant, repetitive and malicious content from @XRP_to_20dollars He is clearly on an agenda to ruin this thread with his personal vindictive attacks that he has been told again and again, by other readers, are not appreciated. These sorts of people masquerade as sceptics, but their empty comments are beyond scepticism, they are straight nastiness.
  18. 15 points
    Julian_Williams

    Charting the course of XRP

    You have posted this opinion several times - we already got your opinion and most of us (who follow this thread) simply do not agree with you about your assessment. I find Molten open and interesting, and his analysis fascinating. I take TA with a pinch of salt. You need to read and follow threads that you respect and interest you. Please stop ruining this one with your constant complaints, it is disrespectful to the freedom of others on the forum to make up their own minds.
  19. 15 points
    Molten

    Charting the course of XRP

    An interesting thing (to me anyway) on the XRP chart. The RSI (relative strength index) can give you a sense of whether an asset is "overbought" or "oversold" and I had been saying for a few days that this run up in XRP was leaving us overbought - in other words, prime for a correction. Well, we had that correction (have almost retraced 50% of the run up, which is not atypical at all) and now we are safely back in the neutral zone for the RSI. Now, the interesting part. Our current RSI value is 54.7 at a price of around $0.277. Last time our RSI was 54.7 was 1/27/20 at a price of around $0.23. So, you can see how a bull market builds with this. Same RSI, higher price. This is how the two steps forward and one step back movement can get you to much higher prices without being technically overbought.
  20. 15 points
    After seeing ODL activity ramp up significantly in the last weeks I decided to calculate possible trajectories of ODL XRP volume development depending on scenarios with varying optimism. https://coil.com/p/karstnDE/Tracking-utility-on-the-XRP-Ledger-Analysis-of-tools-and-a-forecast-attempt/9xvuwpju Summary There are different useful tools to track XRP utility volume created by Ripple's ODL, even though reported volumes deviate The Liquidity Index does not show actual ODL XRP volumes (you need to check the Google Sheets) XRP utility volume might exceed current volume already by end of this year I’m happy to hear your feedback or concerns regarding my methodology so that I can improve it. Also further ideas for analysis are highly welcome.
  21. 15 points
    Agree a bit of a unnecessary rant but hey its weekend. A stakeholder as you put it has an interest, so I dont think some would want to self-harm and dump unnecessarily and foolishly. If someone is smart, you and the market will not even know if a position is being liquidated. Even in a highly liquid market like FX, nobody would just sell 500m or 1bn worth of $ in one go. This happens all the time on big position adjustments, M&A deals etc. You drip feed smaller parcels into the market and sometime that might take a few hours or days. Even within the bank, there are only a handful behind the wall people that will know what and when its happening. The last thing anyone wants is market speculation on a perceived order clearance. Bringing this back to the institutional point of XRP, its not about dumping the XRP like its been happening with so many position in crypto in the past. People just don't know or understand. These entities wait for regulatory clearance, changing risk appetite and understanding in these organisations. All those entities that invested into Ripple and might hold a XRP position, these are smart investors and they would not foolishly dump a position. Everyone is playing the long game, they are not looking at this and are concerned about their market to market value, this is more strategic. Anyway hope that makes sense and its coherent to the readers.
  22. 15 points
    Gorgalosk

    Charting the course of XRP

    This is the case NOW because the posters that are left are a self selecting group. This was not the case even a year ago. Anyone still posting here frequently: -likely managed their investment risk well and thus doesn’t feel pressure to sell and can afford to be patient. -Trusts the research that lead them to XRP in the first place. -Keeps track of XRP and ripple news and sees that the price doesn’t accurately reflect the growth and success both have enjoyed. -Believes in the ability of Ripple’s team to execute their mission.
  23. 15 points
    Eric123

    Epic Pennant on BTC Chart

    The State of the Union for Bitcoin – it’s Strong. When I started this thread this day last year January 24, 2019 – Bitcoin’s price was at $3,629 moving toward a breakout of the Pennant downtrend that began after Bitcoin reached it’s all time high of around $20k in December of 2017. Bitcoin broke out of the downtrend on February 1, 2019 at 9:31 Eastern US time at a price of $3,548. At that time I wrote that the bottom was in and we would move up and sideways from there. After we broke out of the downtrend I used that point to correlate when Bitcoin would reach it’s ATH again, based on when the breakout occurred in the past cycle. As we had broken out much sooner this cycle, I supposed that Bitcoin’s cycle would play out on a condensed timeline and that Bitcoin would retake it’s ATH of near $20k by the end of November 2019. (I also felt bitcoin’s move would drag XRP with it and XRP would reach it’s ATH in 2019 – this did not happen.) In February 2019 I began looking to the 50, 100 and 200 Day EMA’s for direction. On April 6, 2019 - the 50 Day EMA made a bullish cross (Golden Cross) of the 100 Day EMA at a price of $4,937. These indicators were useful until the price rose so dramatically through June (as I expected - but thought would continue through November) and the 100 EMA was well above the 200 day EMA and this method was no longer useful. (except to anticipate the next downtrend). On October 3, 2019 the 50 Day EMA made a Bearish cross (Death Cross) of the 100 Day EMA at a price of 8,237 Now Bitcoin’s price is $8,473 - We have just broke out of the Downtrend that began this past June on January 12, 2020 at a price of $8,181. Once again the 50 – 100 and 200 EMA’s are useful and approaching a Bullish Crossover. The prior times we had a Golden Cross of the 50 and 100 Day EMA prior to the Halving occurred as followed: 50/100 Golden Cross - June 5, 2012 at a price of $5.25 which occurred 117 prior to the Halving of November 28, 2012, price at the halving was $12.12, peak of Bitcoin’s price occurred 485 Days later November 30, 2013 at a price pf $1,161 & 50/100 Golden Cross - October 20, 2015 at a price of $270 – which was 264 days prior to the Halving of July 9, 2016, price at the Halving was $657, peak of Bitcoin’s price occurred 790 days December 17, 2017 at a price of $19,721. At present Bitcoin is less than 109 days from it halving which is slated to occur May 12, 2020. https://www.bitcoinblockhalf.com/ The Bitcoin Hashrate is at it’s second highest level ever. https://www.blockchain.com/en/charts/hash-rate And Bitcoin is staring at another Gold Cross of the 50 and 100 Day EMA which should occur within 10 days. The last two cycles from the price of this cross to the peak of it’s price - Bitcoin rose 221X and 73x respectively. When and at what price the 50 and 100 Day EMA will be crossing is something I will be watching closely. Although the timeframe has changed since my earlier posts my belief that we will replay the cycle has not changed. I am just as Bullish on Bitcoin as I have ever been. If the cycle plays out sort of like it did in the past Bitcoin is looking to begin a bull run which should last for the next 1 to 2 years.
  24. 14 points
    jMusic

    Charting the course of XRP

    I wish I could understand human nature better. Can someone sensible explain why (a few) posters come onto what is clearly a TA thread to bash and be negative towards Molten when it's very clearly stated in the title and the subsequent content what the thread would address. It's like dealing with 3 year old children. Assuming these snowflakes are not toddlers with advanced computing or smart phone skills, why do they behave like this...what do they gain from pissing on someone else's chips ? Constructive criticism is one thing, this is something entirely different. Clearly there are psychological deficiencies that are being over-compensated for resulting in the trolling behaviors we have to tediously endure. It's really very simple, if TA is not your thing - don't read a TA thread. If you really feel so inadequate that you must post your 'enlightened' opinions then start your own anti-TA threads away from here and stop diluting this excellent thread.
  25. 14 points
    Caracappa

    Charting the course of XRP

    Well, thank you for your opinion. I would advise you to not click on this thread if you dislike it so much, and especially if you have the uncontrollable need to vent to others you don't like it time after time. It is pointless and just your opinion. (This is not investment advice) Others, myself included do like it to read his interpretations, wrong or right. And actually, some of his recent calls were pretty accurate. And indeed, others wrong. In the end for most of us it is for entertainment. I'm not placing my trades based upon someone else's TA.
  26. 14 points
    All is well. High probability low to mid .40's in next 10-15 days. Moderate to high probability of the.48 level being breached within 20-30. Macro unchanged & developing as expected. https://thumbs.gfycat.com/FlakyThriftyCorydorascatfish-mobile.mp4 (Ignore the noise)
  27. 14 points
    Tinyaccount

    Charting the course of XRP

    If I was a wealthy man I would buy out all the moaners at their 10% profit levels just to see the back of them and never have to hear their miserable bleating again. They infest every thread. Unfortunately I’m not wealthy. Maybe one day.... but if I ever am it will be no thanks to these pathetic complaining sad sacks.
  28. 14 points
    Bettergoham

    XRP and Ripple adoption is real

    Complainers, whiners, or fudders, I don't really know what is going on around here. What I do know is Ripple first built the technology (step 1), then they had to build their network and onboard customers (step 2), and just now we are starting to see the fruits of their labor. The first "insignificant" tricklings of drops of ODL in the vast ocean of cross border remittances. Every day growing slightly larger as the faucet opens to those willing to test the water. These are the days we will look back on and say wow at one point only $6MM in volume happened a day in ODL? This feels like being in the early days of the internet but we know what is coming down the road. Banks and remittance companies will become greedy, demand to save money, they will pile on to use ODL and cut costs by 50%-70%. Market makers will be forced to hold more and more XRP to ensure they have enough on hand to manage all of the cross border flows and then on the tide of demand will we see our little XRP's value rise. If you can't see how early we are in this, how Ripple has been successful so far in each step of the way, and finally what is now increasingly likely going to be the future of cross border payments then why do you keep showing up here?
  29. 14 points
    Update (I still believe ) The Central Bank of Egypt completed a KYC trial and launched a pilot to aid financial inclusion in the country. The Egyptian National Post Organisation (ENPO) signed w/ Temenos and its T24 Transact core banking system, which is Ripple enabled. The Post bank is a move towards financial inclusion esp, in a cashless society. The United Bank of Egypt upgraded their core to run w/ Finastra (Fusion) , a Ripple partner Moneygram has account service with Suez Canal bank (they have been in Egypt a while already, though) So, crumbs. Not suggesting there is a plan in place, but that the preconditions to make a significant Ripple integration desirable are growing. Sources: https://www.fintechfutures.com/2020/01/central-bank-of-egypt-pilots-ekyc-solution-for-financial-inclusion/ https://www.finextra.com/pressarticle/75284/united-bank-of-egypt-completes-core-upgrade-with-finastra https://www.fintechfutures.com/2019/12/temenos-inks-deal-with-egyptian-national-post/ https://www.crowdfundinsider.com/2020/01/156716-moneygram-partners-with-suez-canal-bank-to-help-egyptian-expats-conduct-remittance-payments/
  30. 14 points
    Julian_Williams

    Epic Pennant on BTC Chart

    690% increase in ODL over three months is not a joke. The Austrailian corridor has grown from zero to 9.5 million in two weeks, PH has doubled these last few days and MEX is setting new highs this week. this time next year we will have perhaps a dozen or more corridors open and each will be doing significantly higher ODL than the three we have open so far. https://docs.google.com/spreadsheets/d/1pZ2POpljERK-oV3rusaCmq58U2badn5i9WOCIP9Wtmg/htmlview#gid=1888946776 https://docs.google.com/spreadsheets/d/11n81l3KBNEFUnx7PB7L-5ITjUjQGih9Tr7giVoDG-Wc/edit#gid=1888946776 https://utility-scan.com/#/dashboard
  31. 14 points
  32. 14 points
    Ok, so first off. Thank you for the topic. While I am going to play devil's advocate below, I want to say that don't really disagree with you. And for those of us who aren't into XRP because we simply are trying to make some fast cash, your timeline is entirely acceptable and - in fact - in my case I accumulate gradually and HODL based upon literally the price projection you have suggested; $30 USD in a decade. I suspect this is very conservative, but that's literally the number I use. I would be delighted to reach that. And... I would like to first support your point by stating something that I have always said. Most banks - save for some of the ones with truly speculative principal investing arms like Goldman - really just want to make money through usury. That's it. They make money by lending money at a higher rate of interest than they payout for those who put their money in their bank. It's the age old formula for true wealth building. At their core, this is who banks are. Now... that said... They have to be able to send money domestically and internationally because that's what customers want/need, but in the end that's not their focused profit center. Lending money is and so innovative new tech is really not that compelling to them even though being able to send money cheap and fast could be used by certain banks seeking to currying direct customer favor both on the consumer and business side. But I agree that this is a value prop for them, but not one that's going to make their turtle pace really increase much. Here's something you are not thinking about, it appears. At least in this paragraph you've written. I don't mean to suggest you are not aware of it. But the value prop for ripple's software is not only that when used in tandem with ODL/XRP for settlement, nostro/vostro accounts become unnecessary... it's also an entirely superior bi-directional messaging system that drastically reduces their risk of loss from fraud and abuse. This should not be disruptive tech, because it's so simple and basic, but it is because banks are so backward in their adoption of technology (to your point). And this aspect - I believe - is in fact compelling enough to make banks move fast. I will confine the remainder of this discussion to the domestic US ACH system for simplicity, but these concepts apply to international money transfers as well. I own a small business that needs to move money relatively fast in order to be successful. This is not a theoretical, by the way, this is true. And in order to move money from my company to a recipient on a same-day basis, I have to use the current ACH system and I have to originate an ACH credit. This system, as it presently stands and as it is in all US banks, is where I communicate to a central bank via a NACHA file to move money from a central bank to my intended recipients bank. Now, I do this through my company's bank, but in order for it to move fast, it literally is transmitted from me to the central bank immediately without my bank even noticing. Here's the problem, the central bank has no idea if my account has sufficient funds to cover the settlement of this. When I was first being underwritten to do ACH credits, I couldn't figure out why... like, dude... don't give me a full body cavity search in order to send money... just don't let me send more money than I have; simple... but it turns out that the system is not setup that way; there's no automated validation of funds in the originating account in place and it has to be done manually which is expensive and manpower intensive. So...at this point and after years of my moving lots of money safely and without issue upon settlement, my bank has underwritten me to be able to move $100K per day without any need for their oversight based upon my business account's average daily balance. So... let's say that I fall on hard times and I am of the morally flexible sort... I could literally drain my business account and then conduct an ACH credit of $100K to an account I control and then drain that account before anyone notices. Think this doesn't happen? It happens via various iterations to the tune of billions of dollars of year. There's a whole element of bank fraudsters who do this literal thing all the time. Billions of dollars in loss annually to taking advantage of this system. Enter Ripple's messaging software, which used to be called xCurrent. It is bi-directional so rather than an overnight domestic payment simply being a matter of a bank trusting someone that they won't move money they don't have, there's an actual two-way validation process in place. So, as it is now, uf I want to move money from my account on an overnight basis via domestic ACH credit, it's a matter of being like, "yo, central bank... move this" and it happens because I am simply trusted which is inherenty flawed and insecure... with Ripple's messaging software, however, its like, "yo... central bank, move this" and the central bank is like, "hey bro... sure, but let me just make sure you have funds to cover this. Ok, you do. Cool, green-lit"... Let's be clear. This is not amazing technology. This is not machine learning/AI sort of stuff. The only amazing aspect is that it's taken until now to do this. So think about this value prop in terms of the ultimate agenda of banks. They want to be usurists, but they ALL want to not be defrauded and lose money and they all get massively defrauded now. If they're all on this system, they all will do better and they know it. Banks don't love to cooperate, in general, but they have a legacy of cooperating around things like this which will benefit all of them entirely by cutting down on fraud and abuse. I am suggesting that this factor will make them move faster than you might think. Not fast. No, banks don't move fast. But perhaps faster than you think. So let's say they move fast to adopt this tech... and this tech just so happens to be pre-packaged to work well with XRP-based settlment via ODL. It's age old shoehorn strategy whereby this desperately needed tech is the shoehorn and ODL is the shoe. Thank you for the topic. It's a really good one. And I don't see what you've written as anti-XRP at all. I see it as being a realist and I wish there was more realism in the pro-XRP world. Cheers.
  33. 13 points
    Reco

    Charting the course of XRP

    Silent lurker here! I'm not basing my purchases or sales on this thread, but I like to read the opinions. Thanks Molten for sharing your views on a regular base. I'm sure there a lot of people like me, just reading this thread every day without posting.
  34. 13 points
    Molten

    Charting the course of XRP

    I like the idea, but then again I think that there are a lot of incognito people, not registered, who view this forum. And since (for better or worse) this is one of the most widely read and posted on threads about XRP price, I'm not sure if we should exclude them all. I think liberal use of the ignore feature is probably the best avenue, but what do others think? EDIT: Didn't even see the post above when I wrote this, but case in point
  35. 13 points
    Molten

    Charting the course of XRP

    I'm not saying I'm "right", as I've always said, I have no claim to know the future. In regards to that call, i said the trend has us toward $0.34 if it doesnt break but in the exact same post i also outlined the possibility of this drop. I had been saying for days that we were overextended and overbought. And, FFS, we DID breach $0.34 before this pull back!! Every time the price drops, the same 3 or 4 people come out of hiding to declare me a charlatan. Its exhausting. If you don't like TA, or my analyses in particular, THEN READ SOMETHING ELSE.
  36. 13 points
    On what basis do you make that statement? .....and what relevance does it have to the discussion of the thread where Asheesh has just told you that in the space of a few months XRP took 7.5% of all the US to Mex market. Every one of the panel is pointing out this disruptive technology is moving in very fast and finding new niches, and XRP will dominate the biggest niche of them all and be very hard to dislodge. But then you come in to say XRP will probably take years to reclaim an ATH established in harder market conditions before their cross border payment technology had been proved and networked. So why are posting your extraordinarily pessimistic predictions?
  37. 13 points
    You will be waiting 10+ years for XRP to hit 30 USD. Why? Because of a specific buzzword you are sure to hear going around... FINTECH. Let's look at this word. It comprises of two parts: Fin - finance, and tech - technology. There is already a problem here. Finance moves incredibly slowly and is anti-innovation, technology moves very fast and is pro-innovation. Bang. And therein lies the fundamental problem when it comes to XRP: the clash of industries. Let's look at cloud adoption as an analogy. Cloud really took off late 2000's, and are large corporations hosting critical processes in the cloud? Nope. Why? Because they're big and they move slowly. They may host non-critical workloads in the cloud, but on-premise private cloud is still a thing and it's not going anywhere anytime soon. Now with XRP. Banks, especially T1 Banks, are some of the slowest and most clunky of the large corporations, whereas XRP is some of the trendiest and most cutting-edge of technologies. What do you think will happen when these two contrasting worlds collide? I mean, good heavens, Banks have stuck with Swift for almost 50 years for a reason - they really do not like change. What makes you think they'll migrate their critical workloads over to the XRP ledger in 1, 2 or 3 years? Stop being silly. A common criticism: People like to bring up Facebook and Instragram adoption rates by the end user, and like to tout this as evidence that XRP will grow in a similar fashion. WRONG, and it really pisses me off when people present this reasoning, actually. XRP focuses its utility on the backend where no user is directly involved; Facebook, Instragram and the like are focusing on the front-end user. They are completely different beasts. If you want XRP's price to go up, its backend usage needs to increase, to hell with BitPay and small transactions from the front-end users, that isn't what you should be looking for.
  38. 13 points
    Claddy

    New ODL corridor : USD - Thai Baht

    https://utility-scan.com/#/dashboard More and more corridors are being opened with each week. Exciting times
  39. 13 points
    https://www.xrparcade.com/news/patent-infringement-case-dismissed/
  40. 13 points
    lucky

    Does Novogratz have a point?

    A decentralized digital asset can only work if the asset is distributed. XRP has no mining process to do that distribution, and for a very good reason: it is inefficient and wasteful. So it has to be distributed by preallocation ("pre-mined"). There is NO other way. The geniuses that created XRP ledger have created a company to do the distribution. All the incentives are aligned: company needs the asset to be distributed (used), and company also wants the asset to be as valuable as possible. To then say: "the company holds a ridiculous amount of XRP" just means you don't understand the whole idea. THERE IS NO BETTER WAY.
  41. 13 points
    https://www.xrparcade.com/news/ripple-partners-with-intermex/
  42. 13 points
    I am not across all the details above and even though you see more volumes, this might still be part of testing with a subset of clients, segment on their end. We're helping some market makers to move excess funds to some destinations, so payments can be made in the local MXN or PHP currency. This increase in volume will attract new entities seeking to participate, thats what I am saying. There is still a fair bit of liquidity re-balancing required while flows are one directional only. Ideally in future we have even flows in all corridors but practically this is not possible. There is more flows going into MXN and PHP then from these currencies. If we take AUDUSD or AUDGBP, the flows should be bi-directional and even out, ie less re-balancing needed. There are a number of factors at play and I am not able to know and see all of them, so hard to dissect fully. Hope I am making sense.
  43. 13 points
    equinox

    Epic Pennant on BTC Chart

    I understand this concern. The IPO initially worried me too, and no one knows how this will play out for XRP holders. A few things to consider in my opinion are. Ripple own the majority of XRP, therefore they have a clear interest in the future price, which would also help with the initial IPO evaluation and future stock value (40,000,000,000 XRP deemed as a company asset) Ripple are expanding into more corridors utilising XRP Ripple have met with the IMF and BIS on multiple occasions and demo'd RippleNet and the XRP digital asset Ripple working with SBI and pushing for adoption with digital assets, specifically XRP (Old article, but valid source) https://ripple.com/insights/sbi-holdings-views-on-blockchain-and-xrp-an-interview-with-yoshitaka-kitao/ $50million investment into MoneyGram to help kickstart XRP utilisation. With great feedback from the CEO, Alex Holmes stating transactions are now settled within seconds utilising XRP Money spent lobbying the White House staff on the importance of digital assets, attempting to bring attention and demonstrate their utility, as well as clarify any confusion or concerns Xpring - An initiative by Ripple to grow the XRP ecosystem by investing and providing grants to companies that utilise the XRP asset and XRP ledger Working with third party entities, i.e. SEC and Faster Payments Task Force to understand what they expect, and how Ripple can comply with any regulations or framework policies they are trying to create Opening an office in Washington DC with a dedicated regulatory team, with the intension of being close to the US Government and White House Working with Coinbase to drive cryptocurrency adoption Trust and reputational damage If Ripple decided to drop XRP then the work outlined above would be all for nothing. Most importantly they would damage their reputation, promoting a digital asset to the SEC, IMF, BIS, SBI Holdings, hosting Swell events etc and then stating "We no longer want to go down that route, we wish to utilise another digital asset or no digital assets at all and remain with xCurrent" would damage their reputation and question their credibility. It may also require modifications to the RippleNet implementation in order to remove any trace of XRP within the codebase (I am assuming this has been architectured in a loosely coupled manner where an asset would be interchangeable), however any amendments would include redeployment of software to existing clients infrastructure (Banks and exchanges) and full end to end testing to deal with a new digital asset, ensuring it works in the correct manner, as well as performing regression testing to ensure the software works as expected without XRP. This incurs additional business cost and introduces risk, if it went wrong it would make them look rather foolish. It would also be terrible for the community if they dropped the XRP token, not to mention the amount of people who will believe they have been misled with Ripple's website stating where to buy the asset. https://ripple.com/?s=xrp If they decided to go with another asset, who would even buy into it? Their reputation would be tarnished, no one would trust them and people would potentially try and raise a lawsuit against them, setting them back further within the digital asset space. Overall, the Ripple IPO will most likely make a lot of the Ripple shareholders wealthy, this is just how business works. It is their duty to look after the shareholders who initially took a chance on them and provided investment, why shouldn't they be rewarded? To answer the question "Do they give a damn". I would argue yes, from the points I mention above. Unfortunately they cannot just green light digital assets as it is outside of their control, Ripple have to be patient with regulations and work with the right people to ensure they understand the benefits of this technology and align with the policies that will be outlaid in the future. If anything comes of this is what we are all speculating on. Overall the technology works, is efficient, secure, stable, scalable, provides a use case and helps solve real world problems with liquidity and cross border payments. Regulations are key to drive this forward and we must be patient.
  44. 13 points
    Any bank that thinks they can sit around for ten years not improving their cross border services will lose that business to FIs. . Look at what Nicolas Steiger is telling you on another thread. He has just set up ODL very recently and he is already becoming a hub for banks in his country that have not yet set up on ODL. Reason: He can provide a cheaper service because he has set up on Ripplenet. Banks that do not compete will lose their market - period Businesses, and I am one tiny one, have to cut costs to survive. We trim our sails or we die. My distributors pay me in pounds, and they pay high transfer costs every day sending payments to overseas suppliers like myself who want to be paid in their native currencies. If someone is going to cut the cost of sending money by 1,2 or 3%, and make it more friendly and efficient? Hell yes, they will use that company. They will not be loyal to their traditional banks if they waste of their money, they will transfer their business to the little competitor that does the job better and cheaper. Go and look at what Nicolas is telling you - he has no trouble with liquidity. He can send between 200 and 200k on his corridor and he is setting up his company to steal the market. It amazes me that the pessimists stick on these threads spreading their pessimism without information, (speculation pessimism?) when there are more interesting threads with real information and news that would cheer them up. Do you people enjoy feeling you lost all your money and your worlds are coming to an end? In the last week seven Thai banks joined ODL. The Bank of Singapore is setting up as a regional hub for ODL. 80% of Japanese banks are working with SBI and their ODL APIs, the non SBI Japanese banks are in other digital schemes. 100% of Indian banks are now on XCurrent. Banks all over the world are going digital. Digital wallets are built into Samsung phones Hey its never going to happen any time soon? Rubbish, it is already happening
  45. 12 points
  46. 12 points
    There are now three corridors, all less than 1 year old and they are all expanding very rapidly - nothing "pitiful" to report. Can you name me another product that is expanding that fast? ODL doubling every 30 days - that is very, very, very, very fast. New corridors expected to be alive within Q1 and more in Q2.
  47. 12 points
    A lot of this is about BTC dominance AB 5.00 last week 7.5% of US dollar to Mexico cross border vol AB 10.20 advert for XRP use case, it is going to be very hard to dislodge XRP from its dominance of its niche AB 12.16 development of protocols AB 16.30 not bullish on lightening. (guy on his left is very keen on lightening as a layer 2 solution to BTC layer 1 problems of scalability and speed) General: Digital is not just about speeding up present processes - it is about inventing new uses AB 21.00 digital asset gets rid Intermediaries and new countries can be added to the network in weeks. General: Blockchain gets rid of intermediaries Trying to predict what disruptions will emerge from blockchain tech AB 25.50 talking about meeting Bitso for the first time and the impact this has had pushing out big banks in the space of just a few months. General; about cars that own themselves, have crypto wallets and buy their own petrol etc. Machines become autonomous AB 34.00 Regulation UK and Singapore doing better than US which is lagging
  48. 12 points
    That's fine. This can become active anytime someone wants to ask a question. We're in the process to integrate with a number of RippleNet partners and have a growing pipeline of new names every week. While a growing network will help our distribution to more Ripple enabled corridors (incl. ODL when they are available), FlashFX is increasingly used as a local AUD correspondent bank / Ripple-enabled entity for real-time (NPP) AUD payment distribution for overseas entities. We support B2C users that access our services through the web / app or B2B via our API. This will continue to evolve for us as we increase the number of those integrations and set these bi-lateral payment partnerships live with our team. The FlashFX team and build has been largely self- and organically funded, a big part of the milestones for the next few months is complete our capital raise, announce key hires to the team as well as strategic partnerships with local and overseas entities.
  49. 12 points
    Dxeed

    Settlement of Jed's XRP

    Those are the old terms which has since changed after Ripple took Jed to court. Read here: https://www.coindesk.com/ripple-jed-mccaleb-settle-suit-over-1-million-in-disputed-funds McCaleb can only sell a percentage of the daily volume. The new terms are: 2016: 0.5% of Daily Volume 2017: 0.75% of Daily Volume 2018: 0.75% of Daily Volume 2019: 1% of Daily Volume 2020 (and beyond) : 1.5% of Daily Volume IMO, these are much better than the old terms even though Jed McCaleb himself considered this a "win" in his blog. He's after Ripple/XRP and even though he has soooo much more to gain from the success of XRP than all of us here combined, he's hellbent on taking them down (what an idiot). Imagine if he was able to sell 1 billion XRP last year or 2 billion this year? The order books are too thin to handle such dumps. Those people calling for sub cent XRP would've been correct. The new terms are much better and its effects are going to be negligible when things really get going.
  50. 12 points
    https://www.xrparcade.com/news/himalayan-bank-a-ripple-customer/
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