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Everything posted by benstr

  1. Sure, no market making. How do crypto exchanges make money, if they don't take a commission?
  2. I have no idea what you're talking about, and how it pertains to ODL discussion.
  3. JA8, Silence...You don't know do you. "Yeah it's common knowledge". I heard that before. Usually from those that don't know.
  4. You do agree that ODL must source XRP and execute payments (trades) at the market price (at the ask price).
  5. We have a conflict of what's common knowledge. Show me. explain how it works in detail. How is ODL designed? explain that in detail. When you cannot explain it, it can mean you don't really know it well enough.
  6. See, if you can prove this me, maybe I miss something. And no longer have reason to hold xrp, if it cannot go up. But I need to be shown via facts. Not someone's opinion. No disrespect.
  7. Prove the above statement. Especially the 'price needle unmoved' part. Use an example that's all. Preferably a xrp price example.
  8. You sound like a commodities trader. Lol "zero sum game" is often quoted. In reality, it's NOT. The futures merchants take a cut. It's called commission.
  9. Bitso CEO Daniel, said in interview with Ryan Selkis Messari, Bitso did not receive discount on xrp.
  10. Prove it. ODL is design to convert fiat to XRP vis versa. I'm sure there a 'execute' button to complete payment. This is a safe guard against intermittent huge spreads. Prove to me " the price needle unmoved to avoid slippage" when ODL is interacting with the exchange. ODL interacts, it does not 'control' the exchange.
  11. Can you speculate on who is on the sell (offer) side of price ladders on any exchange?
  12. That would be nice. 1) Do you know what makes price trade higher? answer: the willingness for a buyer to buy at market. ie buy at the ask price. The minute the trade goes through, the last trade is that ask price. 2) Did you know ODL must fill payment orders at the market price (ie buy at the ask price). They have to, in order to obtain "instant fills". Think about it, ODL cannot afford to place an order at the bid price. They have to get line to get the order filled.
  13. Currently ODL amounts to 0.3% of CMC xrp daily volume. At $150 mil USD xrp daily payments, this represents 8.6% of CMC xrp daily volume. A long ways off, but it can happen. I wonder as ODL grows even beyond $150 mil per day..what if ODL grows to 70% of xrp daily volume, I wonder if we'll see an impact on price? I'm still sticking with the 'utility' part of this demand equation. Not factoring the speculation part. Not yet.
  14. Sure. First of all, ODL is Not all inclusive. Meaning Ripple does not have On Demand Liquidity for all 120 currencies. ODL depth. I'll point you to an example. Go to binance.com/en/trade/XRP_USDT Now look at the left side of window, you'll see the order book, buys lower half, sells upper half. Look at Total (USDT) This represents the dollar amounts available on the order book. The bigger the dollar amounts listed for trade, the deeper the market. Currently this market pair can accommodate $60,000 without so much as changing the 3rd decimal digit. ($0.2775 ) That said, ODL is only available for a few market pairs. Care to tell me which ones they are?
  15. The better question is, how much ODL depth is present before big money banks will use ODL. Big banks might inquire of Ripple, what max payment size can ODL handle in specific corridors? Break down your question, concerns into smaller pieces.
  16. answer: ODL is bundled with Ripple's payment platform. Banks obviously can skip this option. It's that simple.
  17. You're jumping the gun. Getting way ahead of yourself. No one, no bank in their right mind will transfer $200 billion on a fairly new platform. If you were the payments manager, why would you do that and risk getting fired, if something went wrong.?
  18. My question for you. Are you asking if banks will lease ODL/xRapid?
  19. Now to answer about the largest banks. In the real world, any entity will not throw in a $5 million payment without first seeing that the system in place works. I bet Moneygram started out sending to Mexico payments between $100-$500. Then seeing the results, slowly ramp up payment size. The answer is for larger payments ODL will have to ramp up to accommodate it.
  20. Oh Ok. So long as the bank is willing to process outgoing payments, they don't care about the value of xrp. You might care, but payment processors don't. So long as their payments goes through. And cost are low and speedy. Period. You're assuming banks care about xrp price. They don't.
  21. Let's take your statement one piece at a time. In Ripple's model, banks, remitter don't need to hold XRP. They just process outgoing payments, let the system handle to 1) fiat->xrp 2) xrp-> local fiat.
  22. No. Not my definition. ODL is previously xRapid. It was just renamed ODL. xRapid was the s/w function within a cross border payment, (xRapid isn't needed for domestic payments), which goes out and converts fiat to xrp. This occurs and is attached to the payment message itself. Yes it is literally 'attaching money' onto a (payment) message. It's best to think of ODL as a process. Which consist of several steps. On the recipient side of ODL, the reverse happens. The 'xrp money attachment' is extract from the payment message. This xrp is converted to local fiat to complete the cross border payment process. Payment message is flagged 'received'.
  23. Are you ready for answers? As we start this deep dive. Let's make sure we're on the same page as far as terminology. What is your understanding, definition of ODL?
  24. XRP does have a valuation. Do you know what it is?
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