Jump to content

Leaderboard


Popular Content

Showing content with the highest reputation on 12/13/2019 in Posts

  1. 4 points
    Tinyaccount

    Uncertain Future

    Thank you for touching on nearly every fud point that exists. If you are genuine there are lots of discussions about all your points that show the underlying assumptions are often incorrect. I suggest you read rather that ‘watch’ about XRP so that you can get a more balanced view. Have look at this site for a start and maybe go to it’s main page and read its’ other cards before going further afield. https://fudbingo.com/price-won-t-rise-because-xrp-is-too-fast
  2. 3 points
    CryptoGerrie

    Uncertain Future

    I am a bit in between @Tinyaccount and others. Are you spreading FUD or really interested? You just joined XRPchat and this is your first topic. Assuming your intentions are okay, let me help you with a few things: The "intrinsic value" of crypto is zero.. But as you studied Economics, you also know that the intrinsic value of the dollar is the face value minus the risk of the issuer. So basically you give it value, by compensating guarantees against that value. No crypto is not gonna change the whole economic system and won't replace bank (sorry BTC boys) The price of crypto and especially XRP is still 100% speculation. This speculation drives and kills the potential to certain extend. in the long run, IMO the only sustainable model is pricing based on utility. I use the world "utility" for a reason, that means transactional volume on ledger would be the right indicator. Not things like market cap or other bullshit metrics often used. Back to your point regarding pricing against demand. Although you might be right, that technically you will need less XRP to make the transactional volumes in your example, it won't really work like that. You are assuming that all XRP is "available". First of all it is not, most is still locked in Escrow. Secondly, there are retail speculators that hold a lot of them including you and myself for example. Then you will most likely see market makers, holding XRP positions in the future. If XRP can rise to 3 USD on speculation alone, I won't be surprised if it reaches 50 USD in the long future. Zoomed out and not looking at XRP specific, you could ask yourself another question. What will happen to all those crypto projects with zero use case? Do you really believe those prices will stay up forever? No they won't.. In a few years you will see that money dries up and project disappear. If and I am pretty sure Ripple is still expanding then, you will also notice a more positive look at Ripple, that really seems to be building a sustainable network. Is XRP a winner for sure? No not at all, it can easily fail and drop to zero. Regulation, change of landscape within banks and others are very uncertain. What is pretty clear ,and most crypto boys don't want to hear, in order for crypto in general to succeed, you need big players like banks. One thing is for sure, and I can easily confirm this as I worked in banking before, the IT systems are very complex. Not only IT infrastructure, but rules & regulations are strong, let alone the complexity of making changes to it , The FACT is that a company called Ripple, somehow convinced a lot of them to use their software is very impressive and showcases that they are not talking shit. But zero to none use the ODL solution that utilises XRP, that's also true. But in general, they don't really have to, cause as long as everyone charges the same fees, no consumer will leave. As bank often loads of services, loans, insurances, retail banking and business banking, the loyalty is often strong. However what you are seeing now in the landscape, that competition outside the traditional banking world is moving in. Companies like Visa Direct, WU and MGI are targeting pain points (like international payments) and trying to get a foot in the door. That is scary for a lot of banks, cause although "payments" is traditional not a very profitable part of banking, you don't want to loose clients. So lowering costs, making payments faster and give better insight in the status of transactions towards client are definitely thing that will be on the agenda. If ODL or crypto is the holy grail, I can't really tell. It does look more and more like it. Cause Saga and JPM are also investing heavily. My personal believe is that Ripple as tech company will always win from internal bank projects. They simple have a better outsider perspective and can move faster. I do believe they will take over more and more and XRP will benefit . But this can take years for sure. But speculation will always move earlier, so having the change to make huge return next year is realistic. But that is my personal believe and not an investment advice.
  3. 3 points
  4. 3 points
    Tinyaccount

    Uncertain Future

    David and others have repeatedly said there are already quantum resistant encryption techniques available but it’s better to wait till it’s needed because improvements will happen. I have zero concern about quantum computing rendering XRP useless. The only reason you could worry about it is if you think the creator of XRP doesn’t know what he’s talking about. So no, in my opinion it is not the greatest threat, it’s not even close to the threats that actually are important.
  5. 2 points
    This doesn't even make any sense....LOL!!! If I'm a start-up and I had an investor who was willing to give me 200-250 million dollars in crypto what ******* idiot (pardon my french) wouldn't take that deal?!?! With that being said, as I've mentioned before Ripple has just as much vested interest in seeing Coil's vision come to fruition as anyone. Wall street reacted to Ripple's MoneyGram deal bc MoneyGram is a publicly traded company and Coil is a small privately held start-up. Also, it was widely known throughout Wall Street that MoneyGram had been experiencing some funding/financial issues of late. When the Ant Financial bid to buy out MoneyGram fell into disarray due to a conflict of interest of a foreign entity having access to the financial records of US citizens many in Wall Street began to predict imminent doom for MoneyGram. However, low and behold, Ripple comes in with a 50-million dollar check to save the day for MoneyGram. Since Ripple's equity purchase of MoneyGram, there has been a flurry of new/extended partnerships for MoneyGram: Canada Post, SentBe, Wal-Mart, Metropolitan Commercial Bank, Visa, ABE of Egypt, SBI Remit, and Pakistani State. Oh, how the tables have turned!! In many ways, Ripple’s most recent equity commitment with MoneyGram is a bold undertaking by them. I don't think most people fully understand just how audacious of a move on the chessboard this was. Essentially, by acquiring ownership/equity (up to a ~10% stake) in MoneyGram, no matter how small, they have essentially tethered themselves to the success and/or failure of MoneyGram so to speak. If MoneyGram isn’t able to “right the ship” and the company has to file Chapter 11 or worst Chapter 7, one can only imagine what Ripple’s naysayers/competitors will say!! At the end of the day, this is what it's all about; laying it all on the line. Ripple has spent a great deal of engineering resources, millions of dollars, and almost 10 years building, testing, and trialing the various solutions that makeup RippleNet (i.e. xCurrent, xVia, and xRapid). It's a put the hell up or shut the hell up moment for them. With Coil they are doing the same. Putting it all on the line and taking some risks. I think Navin Gupta, Ripple's Managing Director of South East Asia and MENA, said it best a Bahrain FinTech conference last year (02:16:28 - 02:17:48): "Ripple is not an ordinary company. We're not here to have a small market share...or do X or do Y.....or make a small amount of money. We're here to make a dent in the universe!!" So, there you have it. It is a known fact that to bring about signifiant and fundamental change and "make a dent in the universe" your risk is going to be proportionate and in many cases will need to exceed that which you are trying to changed. There will alway be entrenched interest that will always want things to stay the same. Take Ripple for example, they didn't just by happenstance strike over 300 production contract deals by chance. It took a lot of hard work and dedication to prove the naysayers wrong. Now, instead of running around trying to convince banks to give them a shot. The tables have turned and now banks and FIs are scrambling trying to meet with them. With respects to the potential selling pressure of XRP by Coil, you are under the mistaken impression that they're going to immediately dump all of the XRP onto the market. Yes, part of that 1 billion XRP will be sold to help fund day-to-day operations, however, some will be used within the platform itself, and as part of the 100-million dollar Grants for the Web initiative. I think I know what/where your problem lies. Like most, I believe you had an unrealistic ROI (Return-on-Investment) date/time period where you expected the price of XRP to be at XX amount. However, we are still at the beginning of this journey. Ripple has always view XRP as a catalyst in helping to build out and grow the ecosystem and that is what they are doing with their supply of XRP through investments etc. It is way too early to be getting your panties all in a wad about selling pressure at this early stage of the game. XRP is a long-term investment. By long-term, I'm talking years not months. The challenges that Ripple is tacking surrounding cross-border payments and Coil around creating a new payment model for content creators via web-monetization are monstrous undertakings that are going to be realize over a period of time. So, when you measure the success of these companies you need to do so over increments of 5, 10, 15, 20-years.
  6. 2 points
    https://www.bobsguide.com/guide/news/2019/Dec/10/ripple-growing-quickly-but-may-wait-to-review-transaction-data-publications/
  7. 2 points
    Tinyaccount

    Charting the course of XRP

    Yes I am fairly sure that is the case... and that some of the current crop are either paid or have a visceral hatred of Ripple. They try and dial it back so they don’t get banned immediately but after a while their true colours show through. Others are just a holes in general.
  8. 2 points
    yxxyun

    Spam? suspect BTC payments on XRPL

    looks like it stopped and the tps is back to normal.
  9. 2 points
    AlejoMoreno

    Charting the course of XRP

    Half of those are probably throw away accounts where the person comes, spews garbage, and then never comes back again. With that user name at least.
  10. 2 points
    Tinyaccount

    Charting the course of XRP

    A wasted hope for some I’m afraid... if someone thinks that list of malcontents is all of xrpchat then you’d really have to question their judgement.
  11. 1 point
    Thanks for your time replying... I do appreciate the effort you’ve gone to. Unfortunately because of my economic illiteracy, (or because it’s just economic babble... not sure which,) the front paragraphs are just word salad to me. Here’s what I got out of it: your first half dozen paragraphs are discussing how something doesn’t work in real life. Not sure why you did that. then you start talking about XRP and make a statement (that I am very sceptical of) without any supporting evidence... A bald claim with no evidence that I can see. you finish with an ultimate economic doomsday type scenario... again without evidence. Now it may be that you are just too high above me in economics such that we can never effectively communicate. Or you could just be full of it. I’m not sure which. One thing I can say is that some people who truly are experts in a field can make it sound clear and simple to others. It is however unfortunately a pretty rare skill. It actually shouldn’t be, because if you truly understand something you can explain it to a five year old. David Schwartz for example does have that skill. But I digress. (Sorry... I stole your line ) Lastly the reason I mentioned the Greek debt crisis is because it’s widely known... not because I have a dog in the fight or care one whit about the situation. So... if you could actually explain why XRP is unable to be the last resort reserve currency in fairly simple terms then I’d love to read it. I’m inclined to think it’s just your own bias right at the moment... but I do acknowledge I could be totally wrong and you could be totally correct. I hope I haven’t offended you by being so frank about the two possibilities in my mind... but that is how I see it.
  12. 1 point
    Staigera

    Uncertain Future

  13. 1 point
    Truckdriver

    Uncertain Future

  14. 1 point
    googo

    Charting the course of XRP

    Finally the capitulation post I've been waiting from you @Molten. It took 233 pages of nothingness for you to come to your senses. You've probably hurt more people than you helped with your posts unfortunately. The sad thing is, once XRP goes up 5% you'll be right back here with your hopium making your next prediction.
  15. 1 point
    Trentsteel

    Charting the course of XRP

    You and a handful of others does not make up the community on XRP chat, and him choosing to ignore other members doesn’t constitute banning, and with that let’s keep things in perspective 🤓
  16. 1 point
    Eric123

    Epic Pennant on BTC Chart

    @Plikk it's all probabilities and sometimes the price action surprises. Though I still have no doubt bitcoin will retake it's ATH in 2020 and most likely before the halving in May.
  17. 1 point
    peanut56

    Uncertain Future

    Of course it is irrational to believe that every single store of value will flow through xrp. That is the same as saying everything that is valuable should only be traded, bought, or sold utilizing the Russian Rubble. I don't think anyone knows what any digital asset is actually worth as it is a new asset class. All we know is that right now it is worth around 22.08 cents. I think that no matter what digital asset you have it is speculation, and the question you have to ask yourself is that in the future will that asset be more valuable than when you bought it. Xrp went from .05 cents to $3.50 in less than a year. That was definitely a speculative bubble and when you bought in depends on whether your holding a bag at a loss or a bag at a gain, or holding nothing and considering to buy back in or not. The only thing I have to go off of is whether the network is growing, is the asset commercially viable, and was the best guestimate of future utility, demand, and unknowns. The future of xrp and all others is at best an educated guess.
  18. 1 point
    Just so you are aware Tiny, the German banks created the money lent to Greece, as that is what private banks do, create the money supply. This lending was a function of rate compression that took place after the creation of the Euro itself. So, after creating the money, they ran a narrative campaign to demonize the Greek public as profligate spenders, as they organize using tax revenue from other parts of the Eurozone to bail out the banks who were the asset holders of the that debt. So, when you say "Greek Crisis", be aware of the narrative you are participating in.
  19. 1 point
    “While certain types of crypto-assets are at times referred to as "crypto-currencies", the (BIS) Committee is of the view that such assets do not reliably provide the standard functions of money and can be unsafe to rely on as a medium of exchange or store of value. These types of crypto-assets are not legal tender, and are not backed by any government or public authority. Therefore, if banks are authorised, and decide, to acquire crypto-assets or provide related services, the (BIS) Committee is of the view that banks should apply a conservative prudential treatment to such exposures, especially for high-risk crypto-assets.” https://www.bis.org/bcbs/publ/d490.pdf
  20. 1 point
    jheff

    Uncertain Future

    Everyone on this forum tries to predict value based on utility. Look at the BTC chart on a log scale and compare it to every large cap altcoin. Bitcoin has had 3 bull run peaks, most altcoins have had one. They will follow similar past patterns to BTC on the log scale with comparable returns. Buy a mix of ETH, XRP, and LINK and wait a few years. No use speculating on why price will increase with utility when these parabolic runs happen when whales want them to. If you want to look further into what I'm talking about look at this twitter account. Specifically the long term BTC price predictions. https://twitter.com/davthewave?lang=en
  21. 1 point
    https://newslogical.com/revisiting-cme-groups-investment-in-ripple-labs-inc/ CME Group, the world’s leading and diverse derivatives marketplace allowing people to manage risk, has been confirm
  22. 1 point
    Looks like CSC is doing a better ROI.
  23. 1 point
    Julian_Williams

    Charting the course of XRP

    I will miss your posts, but agree with the substance of what you are saying. A few months ago it looked as if XRP was ready to start going up, but I think we were wrong and that XRP is still in an accumulation phase that shows little sign of ending soon. It will end suddenly - no idea when though! I have learnt a lot from you posts.
  24. 1 point
    The New York Department of Financial Services (NYDFS) is getting specific about how it will update its controversial virtual currency license. https://www.coindesk.com/new-york-regulator-details-changes-to-contentious-bitlicense NYDFS explains how to promote listing of altcoins. Below are two suggestions. (1) Regarding BTC, BCH, ETH, ETC, LTC, XRP, PAX, and GUSD already posted on the DFS website, each licensed company can be listed without need for NYDFS approval in advance. (White list system) Japanese Financial Services Agency has also created whitelist. It is similar. https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses/pr_guidance_regarding_listing_of_vc (2) Each licensed company proposes specific listing process policies for each brand in line with its operational model and risk. If the policy is approved by NYDFS, the operator can make listing as “self-approved” without prior permission from DFS. (Self-approval system)
  25. 1 point
    Dario_o

    Charting the course of XRP

    I have a solution for that
  26. 1 point
    mandelbaum

    Uncertain Future

    William Stanley Jevons paradox: https://en.wikipedia.org/wiki/Jevons_paradox
  27. 1 point
    Staigera

    Uncertain Future

    You want advice Here's one. RUN WHILE YOU STILL CAN!
  28. 1 point
    ObeyTheWafflehouse

    Uncertain Future

    I recommend DYOR and read EVERYTHING from @BobWay. He's a wealth of knowledge for the community, but i'll get you started. Stephan proposed an idea that would create a net pressure on XRP. He notes that, "net upward pressure on the price of XRP... and Ripple and I received a patent for it." However in another thread he discusses the "patent." The "patent" is a liquidity sourcing mechanism that allows to pull liquidity from different exchanges at the lowest possible price. With that being said, if you are always using the least expensive payment route, organically the system will grow exponentially over time, which I believe we are seeing RIGHT NOW with ODL. But I haven't touched on why this is good for price. Well, if the volume is exponentially increasing through the payment rails, this allows for more Market Makers to make the market. MMs are able to reduce the speak spread on the ask/bid price of the trade currency, commodity, etc. The more MMs, the more institutions that are holding XRP, not as an investment choice, but because they are able to make a profit from a high volume corridor. Let's say there's a hundred MMs per corridor multiple that by the number of base pairing per currency and the amount of XRP being held overall ramps up very quickly. But as bob said, "But of course the whole strategy is worthless, if the XRP bridge currency path costs more end-to-end than alternative pathways." <---- And that's the risk of your investment.
  29. 1 point
    Molten

    Charting the course of XRP

    I think now is a good time to take a break from watching the price. I am not looking for a big bounce anytime soon and I am finding the constant price checking to make it more difficult to stay within my investment plan, which is to hold for 5 years from my initial purchase price. By that point (2022-2023), XRP will most likely either be valueless or have appreciated quite significantly. Watching the oscillations until that point serves no real purpose as a non-trader. Part of my purpose in teaching myself TA was to identify good potential exit points, but we are currently nowhere near a price that would necessitate an exit plan. So, I think I am going to check out of the forum for a while. I will be hodling all the way and I may check in from time to time to see how everyone is doing, but I want to distance myself from the day to day price action. Thanks to everyone who has contributed (positively) to this thread. I hope when I return every so often that the thread is still alive and humming, along with the other magnificent contributions from this community. Best to everyone and good luck to all.
  30. 1 point
    Tiny. Think about what you are saying. The USD-DKK statement stands on its own, if you honestly think you can pay for contracts denominated in reserve currencies using any currency, then I suggest you do some more reading about the global settlement hierarchy as you are revealing a fundamental misunderstanding about how your financial system actually functions. Anything "can" replace the USD, the world "can" come to an agreement about anything--what they won't do, shouldn't do, is replace a flexible system with an inflexible system. Stop thinking about the world in real terms. "The web of liabilities built on the asset", liabilities are just the opposite side of assets. The web is always equal part liability and equal part asset. The web is not built on gold, or real things, multiplied up or traded around. It's just entries on balance sheets. The entries do not depend on a real asset. The entries increase and decrease according to the interests of people who interact with one another over time. Stop using the word inflation. Try using several words or a different word, it is not aiding your thought process. Liabilities--and their corresponding assets--are all contracts or stem from contracts. A piece of land is a contract, specifically a deed with rights ascribed by the law as to what you can do with it. That piece of land considered over time is a series of contracts, and before the contracts its nothing because no capitalist society exists there--its a place for hunter gatherers or feudal farmers where money and prices have little resemblance to today. The cash in your wallet--it exists because someone else took out a loan contract at some point in the past. Your bank deposits are the same. Your stock shares, treasuries, corporate debt--all contracts. The real goods and services, all produced based on contracts, those contracts all have associated "prices" or values, and they all, always, add up to ZERO, because the liabilities and assets are always everywhere equal to one another. Right. You don't know much about the Euro crisis. So we may not benefit by blending a discussion of financial system operations with ideological narrative. I'm happy to discuss both, but it would be best to understand each in their own right before combining them. Once you understand how the financial system works, you can walk through the Euro crisis and understand what actually happened, and then you can compare that with the narratives that played out and research why those narratives existed. To point out the obvious, you just restated what I said above, assuming XRP is the settlement currency: (1) people who want XRP won't accept some other currency in its place. (2) if Greek balance sheets can't get XRP a portion of the web collapses. (3) XRP FX price adjustment doesn't create lenders of XRP. Stockhammer: The Greek debt crisis is often presented as a result of lack of fiscal discipline. However, from a macroeconomic point of view, German export surpluses are a critical part of the story. A basic macroeconomic account identity states that the sum of public sector balance, the (domestic) private sector balance and the current account deficit (or equivalently: the capital inflows) has to add up to zero. By implication in a country that has a current account deficit either the private sector or the public sector has to run a deficit. Germany has pursued a policy of aggressive wage restraint resulting in large current account surpluses. German gains in competitiveness (since EMU) have not been founded on superior technological performance, but on more effective wage suppression. Germany's current account surpluses are some other countries‟ current account deficits (and capital inflows). In other words, in some countries (indeed most of this is going on within the Euro zone) some economic sectors have to increase their obligations to Germany: in Greece that was primarily the public sector, whereas in Spain it was the household sector. Simply put, German wage suppression rather than fiscal profligacy is at root of the crisis of the Euro system (see Lapavitsas 2010a, 2010b for similar analysis). Europe needs a set of economic institutions and policy rules that address such imbalances and their underlying mechanisms. Balance sheet mechanics. How do transactions actually take place in a global system with multiple currencies. Do Mehrling's course:
  31. 1 point
    I think we are looking at this differently. It’s not MGIs account at Bit-stamp and Bitso. It’s Ripplenet’s. Thats one of the giant advantages of Ripplenet. It’s a modular set of interfaces that removes all the individual peer relationships. It’s not an exponentially more complicated set of relationships each institution must maintain. With multi hop and ODL enabled you fire and forget. You don’t care what path it took. Prior to the firing you’ve already received the quotes. You will get messaged when it’s done and during the stages, but your part is done (speaking as MGI). You only interact at the edges and the rest is modular and not your concern. So MGI initiate an ODL transaction and that’s it. They are done. They don’t have accounts in exchanges, they don’t have to transfer between banks... they just initiate a transaction. If it was a Case A transaction then the pesos will arrive in the recipients account. In a Case B it will arrive in MGIs account in Mexico. They can then use their own self managed cash on hand to pay out the person at their counter. I think you are mixing up in your mind the two entirely different operations. It’s not MGIs capital sitting at Bitstamp waiting to buy XRP. It’s a market makers XRP stack, or it’s a retail XRP seller, or an institution selling XRP. The funds to buy it are the in transit ODL funds. It’s modularised ODL software doing the buying of with the use of the in-transit transactions funds with each segment being dealt with in an overall atomic fashion. Here again, it’s not MGIs Bitso account. They don’t have one, Ripplenet do. (This is perhaps not entirely true... It may be complicated and I do not know for sure who ‘owns’ the exchange accounts but I am fairly certain that it is not the various Ripple customers.) The agent in Mexico (I’ve just been calling them MGI... whether it’s an agent or corporate kiosk doesn’t matter) has their own cash on hand in local fiat. That’s what they give to the recipient. They got it from their local Mexican bank because they have a balance there. That balance is topped up every time there is a Case B and probably also via internal MGI treasury operations, eg payments to agents as fees etc. Those operations might be done via ODL but seems unlikely if they can’t run the corridor at full throttle yet... corporate payments are large. Which brings us full circle... the large trans you see might be Market Makers doing their own arbitrage or perhaps a slim chance it’s MGI treasury, but if so it’s not because they have a bag of Usd they must move for buying XRP with. MGI never buy XRP. (Which is where I originally popped in to suggest you might be wrong about that). Sorry if I haven’t been concise or clear on anything... and I am not an expert, I have just read and watched presentations on it. My suggestion is disassociate the MGI and the ODL entities in your head... then it becomes clearer.
  32. 1 point
  33. 1 point
    This is equivalent to saying that liabilities denominated in dollars can be paid for with danish krone, which of course has two major problems. A contract denominated in USD has no use for DKK. More importantly, assuming DKK was accepted, further USD liabilities on that balance sheet can't be paid for with that DKK--you haven't solved the problem of getting USD. The USD is the global settlement asset, you want to replace it with XRP. If you did replace it, you won't accept DKK for liabilities denominated in XRP, because that's not how settlement works. Movie theaters don't accept tickets issued by someone else, grocery stores don't accept your IOU's for milk. We can test this. Let's write a contract, you and I, that you will give me XRP today, and I'll give you XRP*1.2 tomorrow. Tomorrow, however, I'll offer you Wandering Dog Dollars not XRP--are you still interested in this contract? They are both located on the same ledger.
  34. 1 point
    Hey @T800. It doesn't half feel like you are schilling CSC a lot here. . . . .. for which I would like to say a huge Thanks!!! Trebled my investment in a month, which has eased the pain of waiting for XRP somewhat! And it still feels like very early doors on CSC :-) Will buy you a drink one day 😁
  35. 0 points
    KevClem

    Charting the course of XRP

    I was clearly joking, but I get you would be in no mood for laughter given the price of XRP.
  36. 0 points
    Capone

    Uncertain Future

    What kind of shit is that ?
×
×
  • Create New...