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benstr

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Everything posted by benstr

  1. we know Apple Pay is incorporating xrp api. Sort of preparing for the future.
  2. I found this link. http://www.turfpool.com/ripple-burn-rate
  3. This assumes, the banks do not have a resting supply of xrp. You know, if 5000 transaction goes well and one missed time entry. We have to go with the averages. Btw: on the other side of the exchange, they get it back because xrp would've moved the same direction. So it would take Both an adverse move against them on initiation side (fiat to xrp) and the opposite direction on the other side (xrp to fiat). re: 1-2 days transaction, this is typical via Swift (millions of dollars). Try doing a Western Union for $1k to some Latin America country. Tell me if you get it the same day.
  4. Can you explain why? Oh, let's assume a 5 sec transaction time on each end.
  5. about 20+ yrs, I'd say so. You got 20 yrs in finance ( trading, FX, Swift settlement) experience?
  6. Her video editing and website creation not her strong suit. That said, Suzie has more experience (in terms of years) in finance, trading treasuries, FX than you, me and a lot of others combined.
  7. When it gets on Nas, Ripple doesn't have to 'bridge value' , the institution speculators will do this for them. If it's not longer a coin/ token but a security. Security valuation can go as high as buying pressure will push it. It's now in the realm of a security trading. Amazon, Google are on Nasdaq.
  8. You got some serious stake. Good for you. You should also be thinking ..what if xrp is ruled a security. The obvious impact is price dive. Fud, more fud. There's (very) positive side to this, it goes, since xrp is deem a security; it gets delisted by all crypto exchanges. After a period of decline, I believe Nasdaq is free to step in and offer listing of xrp. This move gives a tremendous lift to xrp since the regulation is cleared up. See where i'm going with this. Once Nasdaq list xrp, institutions, investment banks, more hedge funds will get green light to step in. This I believe will be the long term results.
  9. yes, I understand. But it's not the meat of the lawsuit. The meat pivots around whether xrp is a security. xrp were never ICO. They were gifted by the founders, to Ripple. I kinda believe this move (gifting) was done with intent. Oh fun and games. However the outcome, it will push things forward.
  10. That would serve him right. Plus he will learn can't simply believe everything lawyers say.
  11. yes, lead plantiff has loss $551 because he bought 650 xrp at $2.60 and sold the same at $1.70. I'm wondering if the defendant's attorney was not hired by some outside company to lawsuit on Ripple. It's easy to find people who loss money, lump them together into a class action suit. But a paltry sum of money. This is nothing to Ripple. Someone wanted to make a statement. Haaa. perhaps they want to force a judgment that xrp is a 'security'. This is what they are really after?? Or they want to test it out in court and see the outcome.
  12. I side with Ripple's research and accept xrp is Not a security. But what if?.. 1) most, if not all exchanges will be forced the delist xrp. xrp will likely drop with this news. major fud.. I mean major. 2) now the good news. If there can be good news off this outcome. Remember Nasdaq stated they would be interested in becoming a crypto exchange. Provided the regulation is cleared up. WELL if xrp is now a security. I think Nasdaq will Happily list XRP. Being a security and all. This gets even better, now the institutions, (more) hedge funds, investment banks get to buy in off Nasdaq. Short term PAIN turns into a Major long term buying opportunity.
  13. haha, so funny because xrp came from that level a few months ago.
  14. Search back a few days in this forum on this topic. It's been talked about, dissected at length. You'll probably find the answer you need there.
  15. Ripple is busy building the "highway" infrastructure. The 'Works' not done yet. There are times in life, when things are Not in Our Control. We want liquidity, we want xrp to go up. In due time. Time is out of our control. We can get mad, anxious, annoyed.. none of this will make a difference. Except get your BP to rise. Watch this video on youtube, it should strengthen your resolve. "Cryptocurrency funds_Insto tidal wave of money to come" - Esoteric Trading Solutions
  16. I've followed Suzie early on. I don't think she's with any outside company. She seems to have extensive work experience in finance, on trading desk, FX deals and how they are settle. This includes how FX deals are settled through Swift.
  17. I agree 100%. XRP and crypto currencies are a new asset class. Good argument on if Ripple cease to exist, XRP can still be tradeable. ie it doesn't die along with the company. This is a clear differentiation from a security, in terms of properties.
  18. re: ICON problem is, when you click on github, you see there's so little activity done on source code. I'd give them 5 yrs to catch up to Ripple (present day). but in 5 yrs where will Ripple be? wait scratch that, in 5 yrs xrp should've made lots of money for lots of people.
  19. Using Apple stock above as an example. Ripple is a private company. We have not way to "buy into" company stock. There is not expectation of profit for "XRP" holders. I also think Ripple being a private company is relevant. No one to my knowledge owns Ripple (private) shares, as they do not exist. Unable Ripple partnerships, owning XRP doesn't not make us "investors". As defined about, XRP is used as a value holder for transactions in the Ripple ecosystem. This does not constitute ownership in Ripple company. Put it another way, if Ripple makes tons of money with all it's products. We are not entitled to any of it. LordAMV, this is my understanding, testing under The Howey test.
  20. I like to add this, found on steemit; posted by @basiccrypto The Howey Test (for what is a security) The Howey Test was described as follows in the majority opinion of the Supreme Court: The test is whether the scheme involves an investment of money in a common enterprise with profits to come solely from the efforts of others. This statement lays out four main criteria for an asset to be defined as a security: 1. It must be an investment of money 2. The money must be held in a common enterprise 3. There must be an expectation of profit 4. The profits must come solely from the efforts of others Let’s discuss an asset that meets all four of these criteria: Apple stock. First, in order to obtain Apple stock you must invest money. Second, this money is held by Apple along with other investors’ money, so this makes it a common enterprise of investors. Third, you and the other investors expect a profit and four, this profit comes solely from the work of Apple as a company and not from your own labor. Fulfilling all 4 of the criteria from the Howey Test makes Apple stock a security that must be registered with the SEC. The Howey Test In 1946 the W.J. Howey Co., a citrus company, sold its land to investors who then leased it back to the Howey Company in return for any profits made from the oranges grown on the leased property. The US Securities and Exchange Commision (SEC) viewed these leases as commodities and took the W.J. Howey Company to court for not registering the leases with the SEC as securities. The Supreme Court ruled in favor of the SEC and laid out “The Howey Test” which has since been used to define a security. Analysis With the Howey Test in mind we will give our opinion on whether or not each of the top Cryptocurrencies should be considered securities/EquiCoins. The rating we use is: Very Likely, Likely, Unclear, Unlikely, Very Unlikely. (Very Likely meaning the coin/token will fall under the Howey Test and Very Unlikely meaning the coin/token will be considered property. . 1. Bitcoin (BTC) - Very Unlikely Bitcoin is a pure StoVaCoin. Holding Bitcoin is like holding cash. There is no common enterprise and there is no third party making raising profit. 2. Ethereum (ETH) - Very Unlikely We consider Ethereum a UtiliCoin: it both holds value AND provides network utility (i.e. GAS). There is no promise of profit arising from a 3rd party so is very unlikely to be a security. 3. Ripple (XRP) - Very Unlikely At this time there is no expectation of profit (dividends or payouts) expected for Ripple holders. It is used as a value holder for transactions in the Ripple ecosystem.
  21. Stay with the bigger exchanges. Again, after you sign up on exchanges.. with your initial transfer do a tiny bit (like 30 xrp). Verify it went thru. Then you can go for bigger xrp batch. Since you are caring for a large pot of Srp's, consider buying another Ledger nano or equivalent wallet. Do the initialize slowly, step by step.. don't rush. Point is, you really want to save them offline. You can recover the existing Ledger nano at a later time. Yes, like this weekend or your first day off. Get good nite sleep, wake up and go for it. You are talking about big amounts sitting in one place. Split them up asap.
  22. Alternatively, back to to review website's Getting Started Video, see how far along you've gotten. Take notes,then try to recall which steps you did not complete in the initial setup. As a final way to recover (ie start over) contact Ledger customer support, find out the steps to recover your nano device. I assume you have the recovery phrase written down in a safe place. Worst case you can split up your XRPs across multiple exchanges, thus all your eggs are not in one basket. I'm sure you've done this right?
  23. Let me understand, you got pass the hardware activation, create pass phrase and pin process? If yes, the ledger hardware is ready and your need to setup the desktop ripple wallet application. But so far have no coins moved over.
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