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benstr

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Everything posted by benstr

  1. 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.
  2. 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
  3. 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.
  4. 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..
  5. 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.
  6. 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.
  7. 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.
  8. 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,"
  9. 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.
  10. we know Apple Pay is incorporating xrp api. Sort of preparing for the future.
  11. I found this link. http://www.turfpool.com/ripple-burn-rate
  12. 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.
  13. Can you explain why? Oh, let's assume a 5 sec transaction time on each end.
  14. about 20+ yrs, I'd say so. You got 20 yrs in finance ( trading, FX, Swift settlement) experience?
  15. 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.
  16. 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.
  17. 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.
  18. 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.
  19. That would serve him right. Plus he will learn can't simply believe everything lawyers say.
  20. 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.
  21. 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.
  22. haha, so funny because xrp came from that level a few months ago.
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