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benstr

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Everything posted by benstr

  1. I don't get the statement. Whether you are sending fiat Or using xrp, in both instances there are exchanges fees associated with the transfer. The difference with xrp is you don't need the equivalent of [5000 AUD] in Bangladesh sitting on the receiving side. The xrp equivalent of 5000 AUD, need exchange to local currency. Or if they have extra funds (nostro a/c) of 304931 BDT, they can pay the recipient. At end of day they adjust (add) BDT to maintain their average daily balance. I think a part of WU's business is being a liquidity provider.
  2. Outside of the 2 lawsuits, WU was one piece of bad news. Not nearly enough change to have me doubting my decision about Ripple. The price action being down is irrelevant for a hodler. Looking at how Ripple is executing their business plan over a board timeframe. I feel they are executing as planned. Given that xRapid is just going into production. This product needs time, similar time it took xCurrent to gain foot hold. As far as your analysis of how WU is not able to save money. I get it and see the valid points you make. Ripple doesn't depend on the business of just one company.
  3. https://ripple.com/ripple_press/ripple-reports-positive-results-xrapid-pilots/ "We were very pleased with our pilot results. It’s clear that xRapid can lower liquidity costs while increasing payment speed and transparency in a way that facilitates rigorous compliance controls. We believe that digital assets like XRP will play a key role in the future of cross-border payments, helping to safely address some of the structural inefficiencies of legacy settlement infrastructure as their adoption grows. We look forward to exploring next steps with Ripple.” – Paul Dwyer, Co-founder and CEO, Viamericas. “Mercury is delighted with the incredible speed and cost-efficiency of the xRapid pilot phase and is excited about a production rollout in the near future,” said Alastair Constance, Founder of Mercury FX. “To date, the Ripple collaboration has been a great success.”
  4. https://ripple.com/ripple_press/ripple-reports-positive-results-xrapid-pilots/ "We were very pleased with our pilot results. It’s clear that xRapid can lower liquidity costs while increasing payment speed and transparency in a way that facilitates rigorous compliance controls. We believe that digital assets like XRP will play a key role in the future of cross-border payments, helping to safely address some of the structural inefficiencies of legacy settlement infrastructure as their adoption grows. We look forward to exploring next steps with Ripple.” – Paul Dwyer, Co-founder and CEO, Viamericas. “Mercury is delighted with the incredible speed and cost-efficiency of the xRapid pilot phase and is excited about a production rollout in the near future,” said Alastair Constance, Founder of Mercury FX. “To date, the Ripple collaboration has been a great success.” btw: I do not work for Ripple.
  5. Today's xrp price reflects, little demand on xrp in terms of usage. Outside of retail investor spec demand buying. Industry (banks, fin cos) usage is very small. Hence we don't see steady upward demand on xrp prices. With increase usage we should see upward demand on prices. You have to 'buy into xrp' before xrp can be send out, right. This buy side should exert bids under prices. Because these buy-in should be going off at or near asking prices. The current demand is easily being absorbed with equal selling. Price remains flat. As demand grows, we will see continue pressure to (buy xrp) prior to sending out payments. We are not there yet.
  6. Yes but in terms of a group or company (Ripple excluded) that has a viable product, production ready. Most projects are still in development, testing, beta phases. How many are ready for market? In this respect, investing in this space is still early on. Choosing the right project is still a hit or miss proposition.
  7. actually the technology has Not begun using xrp as a bridge currency. Don't forget xRapid is just going into production. Like only a few weeks ago. And only on 2-3 companies.
  8. No and resounding Yes for latter part. I know this from experience, research.
  9. use this as a gauge, that the company is performing. Don't use this info to expect the price to react upward. It doesn't, shouldn't work that way. Because if prices constantly react upward, we're in a pump and dump scheme. Which Ripple/XRP is not.
  10. haha that's why we call it "investing". Investing by it's nature looks toward the future. If there's significant xrp usage, it would already be priced in.
  11. From the retail investor side, we are pretty much loaded up. Many are now dollar cost averaging buys. Institutions are still uncommitted, waiting on SEC clarity. Banks are still testing xRapid. Where is the serious money coming in from? That is your answer. We are so early on this investment cycle. New sector, new asset class, SEC reviewing, no announcements yet. On the business front, product sales are going up, clients continue testing.
  12. Something not right. Let's go from the beginning. "For example: bank A in the U.S. wants to send 1 Million USD to bank B in Australia. xRapid first buys 1 million XRP then sends it to bank B, then bank B sells the XRP for Australian Dollars " bank A sources xrp equivalent of 1 Million USD to send. Keep in mind, the exchange spread is billed to sender. Recipient gets the xrp equivalent of 1 Million USD. XRP to XRP remains the same. The recipient gets 1 Million USD minus exchange rate cost. Are we on the same page? In terms of amount in transfer, Sender pays more and receiver gets less. Isn't this how it works in real situation?
  13. I was reading other post about conversion rates, etc.. Then it dawned on me. Your assumption-Let's say 1 XRP is $1. When you wrote $1m xrp gets 999,400 XRP. This is 0.06% cost is Added to transfer amount. The total to transfer should be plus $1m+0.06% , ie $1,000,600 total on sending side not 999,400 XRP); On recipient side they will receive $1m. Period. This gets converted to equivalent in MXN.
  14. I understand what you mean, your buying at the ask, on conversion to MXN your selling at the bid. This will be the case whether converting fiat or xrp right? This is exchange rate cost, no getting around it. We assume minimized cost by using the best liquidity provider. The way around it, is to hold a nostro account (funds used for settlement) at receiving side. The nostro a/c is sized to average daily volume, not just the $1m amount in transfer. Furthermore this nostro a/c needs to be adjusted, money added or subtracted, according to overnight FX fluctuations. Suppose due to overnight rate changes, this morning you need to add $6k to maintain average daily balance. Isn't that a necessary operating cost? What if you can do away with this operating cost. The question then is, is it cheaper to absorb the exchange rate cost, and do away with nostro account at receiving side? To do away with nostro account means take the money back home. Given this scenario, what Ripple really need are liquidity providers in varies fiat currencies. Ex. xrp to MXN
  15. watch the xCurrent videos from Ripple's website, it goes over what happens in payment flow. https://ripple.com/solutions/process-payments/ imo, it makes no difference on exchange rates, as transfers the "old fashion way" will experience the same exchange rate volatility. xCurrent allows the transaction to flow through in seconds. When done the "old fashion way" users are subject to a longer period of exchange rate fluctuation.
  16. Yes I did back last Dec, when xrp was around $0.34/$0.44. Everyone listened but hesitated to 'pull the trigger'. Given no one took my advice/recommendation it was then that I knew I was onto a winner. Probably a big winner. Life works that way..
  17. I recall reading somewhere Jed is limited as to how much he can sell per market day or week. So percentage of daily trading volume.
  18. Can you run through your example using fiat currencies on both sides? because I don't see how you can get away without paying the "spread" on MXN side. ie the USD to MXN conversion will involve a bid/ask spread.
  19. I followed this thread. One rule in investing, if your not comfortable with your choice. Par down, lighten up, get into your comfort zone. Don't let the info from just one guy be your main input. Let's say you follow his advice and it turns out (this takes awhile) he is wrong. Question: who are you going to blame? Yourself or the guy you listened to. I heard his early videos and can tell he has a bias. Don't matter he works in a bank. I use to work for a company and all our customers were banks. We did banking software. HIs is just another opinion. If you like opinions then keep gathering info, collect it all, write it down. Separate the opinion vs fact from your research. Now you have a chance to make an informed decisive. Look this knowledge let's me sleep at night. I don't need banks to use xrp to keep me confident xrp will go up in value. What I need is crypto industry moves that continue to point to acceptance and growth. Acceptance is a done deal. I'm watching growth. We know several exchanges/liquidity providers are gearing up for institution volume. Why is that? what are they gearing up for? What do they see in the future that you do not see? What will institution participate do to this space? are they going to sell it or buy it? What about the SEC? Well that's precisely the reason exchanges/liquidity providers are gearing up! They know SEC will provide clarity this year. And regardless of their announcement. SEC involvement going forward will be the only green light institutions were waiting for! So I don't need banks to use xrp. Cedric is only presenting one aspect of price discovery. I gave a stronger argument why xrp will go up. This argument comes with certainty of expected price outcome. Cedric's analysis could be wrong.
  20. I was talking about the same thing. I think of API (application programming interface) when s/w programs connect to other s/w programs or product. I guess we are talking about Apple's api talking to Ripple's Interledger api. "Apple has introduced a new payment request API for Apple Pay with the Interledger extension from Ripple,"
  21. This platform will be utilized for micropayments, commerce, Internet of Things. Ripple's tech is not in the space right now. Keep in mind, Akamai's platform is not bank regulation compliant. We can rule out this being a competitor of Ripple.
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