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XRPSherpa

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  1. Like
    XRPSherpa reacted to ADingoAteMyXRP in Moneygram on CNN Tomorrow   
    In the short-term holding unhedged crypto will absolutely be a risk (yesterday being a great example of why), but longterm, financial institutions will have to participate in a maker/taker capacity In token markets to remain relevant to the payment infrastructure.
  2. Like
    XRPSherpa reacted to ADingoAteMyXRP in Moneygram on CNN Tomorrow   
    Okay, but you're not looking far enough ahead. Holding XRP instead of offshore accounts at every bank they do business with on the planet would be a great way to reduce that risk.
  3. Like
    XRPSherpa reacted to BobWay in Answer: My Dinner with David   
    I love it when you point out where I'm not clear. Thank you!  Let me try again and make me continue until I get better.
    It would be possible to have a consensus process that help approve new banks to participate in the system, if that is what you meant. 
    But what I'd like everyone to realize is that each "payment" moves through multiple banks and payment systems. Each of those has certain regulatory requirements they need to comply with on a payment by payment bases. The make these decisions independently. So that type of decision is not a good candidate for consensus. So what happens in the current system is:  Alice asks to send a payment to Bob. Alice is at a small bank in the US. Bob is at a small bank in Brazil. So a payment path might look like this:
    Alice ---> Alice's Bank ---> Alice's Bank's Correspondent Bank -----------> Bob's Bank's Correspondent Bank ---> Bob's bank ---> Bob So the first thing that happens is Alice asks her bank to send a payment to Bob. The next thing that happens is her bank says: "Who's Bob? Hey's not a customer of ours. We need to "know or customers" (KYC) when we process payments. You first you'll need to fill out these forms about Bob in Brazil and why you are sending him money. Since we also need to make sure you aren't laundering money (AML) of financing terrorism (OFAC). So Alice fills out a big form and hands it over. The bank types everything into their system for transactions screening and give is OK to go. Then immediately after, Alice's bank debits Alice's account.
    Only then does it try to figure out if it even CAN make the payment. So it sends a SWIFT message to their correspondent saying, "Hey, please debit our (Alice's Bank's) account with you, and pass this money along toward Bob. And their correspondent says, "Whose Bob? Oh, and by the way whose Alice?" So the bank passes that form information along with Alice's customer info to their correspondent as well. Who then runs that through their KYC, AML, and OFAC screening systems and OKs the payment as well.
    So they send a SWIFT message to their foreign correspondent saying. "Hey, please debit our account and pass this money along to Bob." and they do all of the above and again it is OK. So they pass the message through SWIFT (or local rails) to Bob's bank. And they credit Bob's bank on their books.
    And Bob's bank receives the message and sees the money in their account. And then goes to credit Bob's account and realizes, "Hey, Bob closed his account last week!"
    But all the money has been moved along the chain. So now all of those accounting transactions have to be reversed. So the SWIFT messages start again from right to left reversing the transaction.
    ---
    What Ripple's Pre-Validation layer implements is a common standard for all of these messages. (SWIFT's standard is quite quirky) And it implements a protocol that allows each bank to do all of their transaction screening, BEFORE any money moves. If they all "validate" the transaction. Only then do they send the payment along through the atomic accounting system (XRPL or ILP).
    If SWIFT has partnered with Ripple early on, all the work of that new messaging layer could have been built more quickly upon SWIFTS existing infrastructure and relationships.
    The above statements were my personal opinion at the time. It was not a company plan nor even a direction we had discussed before the moment I crossed paths with Wim and Gottfried. That conversation was just a happy coincidence. Keep in mind, at that time I had those conversations with strangers every day. Also, RippleNet did not exist and Ripple did not sell anything. We gave our software, help and tech support away for free to anyone who wanted to build upon the (Ripple) XRP Ledger.
    Also note the pre-validation process is describe in Ripple public collateral in many place including this one. Look for the "messenger" component on page 10.
    Everyone, please realize that I'm not telling you secrets. I'm telling you how to correctly interpret all the material Ripple is already providing to you in order to learn. I'm just a teacher. I am not out to subvert any plans that Ripple might have. Or to disclose private company information to competitors.
     
  4. Like
    XRPSherpa reacted to BobWay in Hi! I'm Bob   
    I really have no idea. I was head down ignoring crypto at that moment. I don't think I knew it got to .80, I remember my wife telling me .60 at one point. I haven't done any trading since 2017 actually. Just hodling on!
    Banks are very interesting. US banks are very competitive. Canadian banks seem more cooperative. All seem like pack animals to me. It's hard to get the pack moving, but once a few start it quickly turns into a stampede. It's important for me to analyze the news based on this competitive perspective.
    JP Morgan (because you named them) isn't really competing with Ripple. They have had their own internal blockchain team for several years. It used to be run by Amber Baldet who I met with on several occasions while working at Ripple. She is an amazingly smart leader and was very gracious to me personally. She referring us up the chain to her bosses several times for very productive meetings.
    On the other hand, if you look at RippleNet you'll see Bank of America Merrill Lynch on the steering committee. It's probably a pretty good presumption that JP Morgan and Bank of America are pretty competitive. I think of JP Morgan's latest news as more of a shot across the bow towards our other banks, rather than Ripple in particular. But I do think that it might cause all the RippleNet banks to pick up their pace a bit. Everyone in RippleNet wants to be seen as both a thought and execution leader. You can't be that if you're second.
     
  5. Like
    XRPSherpa reacted to BrownBear in Mercury FX Confirms Plans To Send Million Dollar Payments Through xRapid   
    That is demand.
    Buying XRP reduces the supply side. Selling XRP on the other end increases supply side yes, but there are MULTIPLE transactions going on at once, they don't wait for one to finish and then wait for the market makers to arbitrage back so everythingt resets to the previous value before starting another transaction. In order to fill MULTIPLE orders o each side, there needs to be enough limit orders to fill the value demand being transferred. The more transactions that take place simultaneously, the greatest the demand for the supply of XRP will be. There is not argument to that. You simply are not thinking big enough.
    You are ignoring the utility but describing speculation where the only factor is buyers outnumber sellers. You don't seem to understand the subject matter. And it was in Germany, watch the video from June.
    You can repeat your inaccurate calculations as many times as you like, but without volume you are saying XRP's value is determined purely on speculation and this is incorrect. XRP is not a speculative assets, it is a utility token and it's value will primarily be determined by the demand needed in its utility to move value between currency pairs.
    As for your "It just buys and sells XRP in less than a minute and it doesn't matter if it buys 1000 or 10k XRP it sells them afterwards." It sells them ON ANOTHER EXCHANGE IN ANOTHER COUNTRY. The exchange where the XRP was first bought now has less XRP to use and any following transaction will need to pay a higher price until the market makers move the XRP back from the other end and I bet ya ass that they will look to make a profit.

    If I go to an exchange and buy $50,000 USD worth of XRP to send to Mexico and then someone else buys $50,000 USD worth of XRP to send to EUR, they are NOT going to wait for the XRP to come back as arbitrage before they send theirs to the EU just so they can buy the same value worth of XRP but at the same token value I did, they are going to buy and send at a rate that can fill their order. and the the more repeat transactions become, the more demand will push the price of XRP up. As Arbitrage moves in to refill the first exchanges XRP pool, they will try and sell to the NEXT BUYER at a slightly higher price to make a profit. 

    There are plenty of posts, threads and articles that explain how market makers work, I suggest you read some.
     
  6. Like
    XRPSherpa reacted to VanHasen in Brad Garlinghouse vs Joeseph Lubin (ETH ConsenSys) #EtherealDavos   
    not a 100% word by word - i wrote it down by listening, but i like that dialogue between Brad and Joseph Lubin (Ethereum ConsenSys)
    @ about 24 min mark
    Brad: "the XRP Ledger is more decentralized than mining-based solutions (because of the nature of PoW)..."
    Joseph Lubin (Ethereum): "... talking about decentralized... but you do sell XRP regulary right...?"
    Brad: "... we're transparent about it... how much do you sell?"
    Joseph Lubin: "Ehm..."
    Brad: "...transparency and maturity in this market are critical...”
    Joseph: "sure"
    Brad: "there are many other ecosystems not being transparent...no one knows what happens in those ecosystems..."
    Joseph: "...but they are decentralized about the ownership of the token..."
    Brad: " ...if its a mining-based protocol, then centralization is based upon mining control, not ownership..."
    Joseph: ehm one small aspect of the governance of the ecosystem could be considered centralized if you talk about the mining aspect... sure"
    silence
    Moderator to Joseph:  "Joe it's been said that you are one of the biggest ethereum holders... how do you manage treasury in consensys..."
    Joseph: "(laughs) ehm... i guess no comment..." ..."we manage our treasury like a company would manage it`s treasury..."
    Brad (jumps in): "...i find it interesting that ripple gets attacked for being transparent... actually the next xrp market report will come out sometime later in this week... but, because we share that information we get attacked for it while other platforms don't share that information and so they are insulated from the same critiques... i think in the dictionary it's called hypocrisy... i'm not 100% sure, but it's close"
    Joseph: "...ehm we are a private company..."
    Brad (jumps in again): "Ripple is a private company too"

     
     
     
     
     
     
  7. Haha
    XRPSherpa got a reaction from EcneitapLatnem in 2019 is winter   
    If BeSeriousXRP was from the past.....
  8. Haha
    XRPSherpa got a reaction from Ripple-Stiltskin in 2019 is winter   
    If BeSeriousXRP was from the past.....
  9. Haha
    XRPSherpa got a reaction from Rey in 2019 is winter   
    If BeSeriousXRP was from the past.....
  10. Like
    XRPSherpa reacted to Ironhalo in Coinbase 12 days   
    This could be interesting. With everything that is coming online for Q1 2019, they'd be stupid not to list the bigger coins in preparation.
    Aka, XRP.
  11. Like
    XRPSherpa reacted to TokenBaby in NEW XRP Sentiment and Projection Charts   
    I came across a new useful site for xrp related metrics.
    Check it out and tell me your thoughts.
    https://thetie.io/coin-detail/XRP.X
  12. Like
    XRPSherpa reacted to MegaNerd in NEW XRP Sentiment and Projection Charts   
    ..but we appreciate the effort and look forward to more posts.
     
  13. Like
    XRPSherpa reacted to BluKoo in NEW XRP Sentiment and Projection Charts   
    Good lad. Manners cost nothing.

    Take note @Capone.
  14. Like
    XRPSherpa reacted to Rey in UBS time to bury bitcoin   
    You see this all the time when new disruptive technology breaks through: some folks just don't get it ...
    I don't think it's that bad if ordinary people need more time to get a grasp, however if this is the case with senior management of global FI's, who should know what's going on in their own backyard, they only bring their own retirement forward ... 
    If he's making this kind of statements only to support a second agenda, that would be even more despicable ... just my XRP 0.02
  15. Haha
    XRPSherpa got a reaction from Zerponaut in Global Cryptocurrency (Include Ripple Also) Market is projected to reach USD 3,678.92 million by 2025   
    And more importantly, what do you have against milk and cookies.....?
  16. Like
    XRPSherpa got a reaction from Zerponaut in Global Cryptocurrency (Include Ripple Also) Market is projected to reach USD 3,678.92 million by 2025   
    Not sure what the report says, but the figure that they show of 3,000 million is obviously totally wrong... Unless they are claiming a monumental drop, which the article doesn't appear to be saying at all...
    3.7 million million (3.7 trillion) would be more like it, but in 2025, 7 years from now, that may actually be underselling things imho..... I think we could see 1-2T within a year or so... I guess we'll see (any of us that are still around then....)....
  17. Like
    XRPSherpa got a reaction from Easyxrpeasy in Why I do believe XRP will not reach 5 USD even in 5 years   
    Or, you could look at the past.....
    Not more than 10 months ago, demand rose as speculators pushed daily volume up to 8B and the price to almost $4... Since then, the number of exchanges offering XRP has exploded, to about 200 now I believe... This makes such a surge not merely easier than before, but more likely. Add to that the addition of utility and you have even more impetus. So, what you are claiming is impossible within 5 years actually happened in a matter of weeks....
    But then, Fidel Castro always did have a problem with being on the right side of history....
  18. Like
    XRPSherpa got a reaction from stickmonster in Why I do believe XRP will not reach 5 USD even in 5 years   
    Or, you could look at the past.....
    Not more than 10 months ago, demand rose as speculators pushed daily volume up to 8B and the price to almost $4... Since then, the number of exchanges offering XRP has exploded, to about 200 now I believe... This makes such a surge not merely easier than before, but more likely. Add to that the addition of utility and you have even more impetus. So, what you are claiming is impossible within 5 years actually happened in a matter of weeks....
    But then, Fidel Castro always did have a problem with being on the right side of history....
  19. Like
    XRPSherpa got a reaction from G-Men in Why I do believe XRP will not reach 5 USD even in 5 years   
    Or, you could look at the past.....
    Not more than 10 months ago, demand rose as speculators pushed daily volume up to 8B and the price to almost $4... Since then, the number of exchanges offering XRP has exploded, to about 200 now I believe... This makes such a surge not merely easier than before, but more likely. Add to that the addition of utility and you have even more impetus. So, what you are claiming is impossible within 5 years actually happened in a matter of weeks....
    But then, Fidel Castro always did have a problem with being on the right side of history....
  20. Like
    XRPSherpa got a reaction from Yodaxrp in Why I do believe XRP will not reach 5 USD even in 5 years   
    Or, you could look at the past.....
    Not more than 10 months ago, demand rose as speculators pushed daily volume up to 8B and the price to almost $4... Since then, the number of exchanges offering XRP has exploded, to about 200 now I believe... This makes such a surge not merely easier than before, but more likely. Add to that the addition of utility and you have even more impetus. So, what you are claiming is impossible within 5 years actually happened in a matter of weeks....
    But then, Fidel Castro always did have a problem with being on the right side of history....
  21. Haha
  22. Thanks
    XRPSherpa got a reaction from ChuckN in Most outlandish XRP price predictions   
    1. Yes, a very good possibility, given the multi-trillion dollar market Ripple is aiming at and many other potential use cases going forward.
    2. Already happening. Anyone paying the slightest bit of attention to the DA market can see the avalanche of institutional investment that has already spent years and expended massive costs preparing the infrastructure to take on this market.
    3. Not if the rise is steady and based on real-world utility. There is absolutely no reason for a crash if the price is based on actual use. None.
     
    So there it is. All of your underlying assumptions for the above price predictions are perfectly reasonable, except for the last one. I hope this has been useful/informative/entertaining to you!
  23. Like
    XRPSherpa got a reaction from GrumpyDon in Most outlandish XRP price predictions   
    1. Yes, a very good possibility, given the multi-trillion dollar market Ripple is aiming at and many other potential use cases going forward.
    2. Already happening. Anyone paying the slightest bit of attention to the DA market can see the avalanche of institutional investment that has already spent years and expended massive costs preparing the infrastructure to take on this market.
    3. Not if the rise is steady and based on real-world utility. There is absolutely no reason for a crash if the price is based on actual use. None.
     
    So there it is. All of your underlying assumptions for the above price predictions are perfectly reasonable, except for the last one. I hope this has been useful/informative/entertaining to you!
  24. Thanks
    XRPSherpa got a reaction from automatic in Most outlandish XRP price predictions   
    1. Yes, a very good possibility, given the multi-trillion dollar market Ripple is aiming at and many other potential use cases going forward.
    2. Already happening. Anyone paying the slightest bit of attention to the DA market can see the avalanche of institutional investment that has already spent years and expended massive costs preparing the infrastructure to take on this market.
    3. Not if the rise is steady and based on real-world utility. There is absolutely no reason for a crash if the price is based on actual use. None.
     
    So there it is. All of your underlying assumptions for the above price predictions are perfectly reasonable, except for the last one. I hope this has been useful/informative/entertaining to you!
  25. Like
    XRPSherpa got a reaction from GiddyUp in How Are We All Doing?   
    I've read through some of your posts here in this thread, but to be honest I'm struggling to find anything approaching a point. If you don't think XRP is a good investment, a) what are you doing here? and b) what does it matter if someone else feels differently? 
     
    Personally, I have done hundreds of hours of research into XRP and this market, and I am very optimistic about the future. So many blocks have been laid, and there is so much going on in this space. It hasn't been an easy year in terms of price, and there will still likely be difficult days ahead. But I fully expect to see the crypto market increase over the next few years. And the reason I'm invested in XRP is that I think it will outpace the growth of the market...  So I'm very happy with my investment, and very much looking forward to seeing what the future brings...
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