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    Poor Medical Student
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XRPKronk's Achievements

  1. If a bank has an adjustable rate mortgage tied to prime at 4.5%, and prime goes down, the Mark-Up goes down as well. Banks were giving out adjustable rate loans like candy forecasting that the rate would increase. That is the cause for panic. They have given out too much money (most banks operate in the red) than they can forecast to receive as profit.
  2. If you cant see what this post has to do with XRP, there is little help this doc can do. Ripple uses XRP for banking software. Banks and money transfer services are starting to adopt crypto. The recent stress on banks by the FED may push banks towards adopting XRP..... There. Spelled it out for you.
  3. Good point. I understand the risks. I obfuscated the location and size of the bank. I highly doubt you can trace these people back. If you can, Kudos.
  4. That idea has been thrown around a lot! Currently, the policy is zero crypto tolerance. Maybe that might change after this quarter. She is actually looking to switch jobs to got to a crypto bank/firm
  5. There will be blood... on wall st. I think we will see a lot of capital move into crypto. I dont know what this means for the power of the US dollar... that's my only hesitation for taking out a loan. (Also, a 21yo doesnt need a mortgage lol) .
  6. Alright guys, its been a hell of a week for Ripple and crypto in general. We are witnessing the beginning of a banking revolution- its only going to get crazier as we head into 2020. PART 1: Let me start this post by telling you a conversation I had with my mother, an executive loan officer and branch manager of a regional bank in the south: After the usual mother/son conversation, I asked her how her job was going since she just came back from family leave. APPARENTLY.... "The top executives are freaking out. The projections for loan income are completely off due to the FED announcement." If you're not in the US, basically the central bank wants to lower interest rates next month. The effect? Here is an excerpt from a Yahoo Finance article: https://finance.yahoo.com/news/fed-interest-rate-cut-horizon-121512567.html So, US banks will be struggling to make the quota for this fiscal half because the banks projected the rate to actually increase rather than decline. This meant that many banks gave adjustable rate loans to borrowers in hopes that the prime rate would increase over time. PART 2: Responses from other banks have ranged from nonchalant to panic As you can imagine, banks want to keep a lid on their panic state. Most have released statements that say they were prepared for the rate decline. Some are in denial and think the FED will call back on its majority vote to cut the rate https://www.cnbc.com/2019/06/20/one-major-bank-is-holding-the-line-saying-the-fed-wont-cut-rates-this-year.html Once Goldman Sachs executive went all the way to say smaller banks are screwed https://www.bloomberg.com/news/articles/2019-06-20/goldman-sachs-executive-says-legacy-retail-banks-are-screwed Based of the conversation with my mother, I would agree that the banks are concerned and stand to lose a lot of money. PART 3: ENTER CRYPTO- Libra is announced, and the Moneygram Move Okay so, unless you live under a rock, the news this week has been amazing. Facebook announces Libra under much criticism. The announcement had a few effects: Whether you love it or hate it, it has helped bring crypto into the spotlight this week. All press is good press for crypto, that much is true. Regulators have sprung into action. Already making statements about the regulation of Libra and crypto in general. (See quotes below) https://www.apnews.com/ee872c2a79494a1183866bd1dc9c9083 https://www.cnbc.com/2019/06/20/facebook-libra-cryptocurrency-faced-with-central-bank-warnings.html https://cryptonews.com/news/fatf-decides-to-tighten-crypto-regulation-report-4092.htm There are plenty of other quotes, but i think this suffices. A final effect is that banks will be looking for an alternative or an edge against their competitors. Ripple and Xrapid already exist and has gone through extensive trials over the past 5 years. Brad Garlinghouse has already made the statement that Ripple has has a "record week" due to the Libra Announcement: BOOM- Thank you, Facebook. Ripple is also in the spotlight for the Moneygram Deal. MoneyGram's Stock rose over 150% and huge announcements for new corridors were made as moneygram is expanding their footprint in India. Ripple is making other moves as SBI Remit and SCB Thailand are featured in their Paying Forward promo videos (check twitter, i'm too lazy at this point to embed them lol) Conclusion TLDR: Banks are hurting from the potential FED rate drop and crypto appears this week to banks as a way to cut costs. The financial transformation is on the horizon and is approaching fast! If your read all that, congratulations. You're amazing!
  7. Haha, no. I am just doing a bit of research. I'll make it public once I compile more data
  8. I will post them here since you are interested. The poll ends in 24 hours.
  9. I thought it would be interesting to check on the sentiment of the XRP community. I made a quick set of twitter polls if anyone is interested. I would appreciate a retweet to help collect as much data as possible. THANKS!
  10. Can we add another column to this list: Volume of transactions per year ? This metric will be very important because it will show how much of the transaction/ remittance market Ripple and XRP have cornered. I would be happy to start researching these numbers
  11. can someone post a synopsys after? Im in class and I cant watch it
  12. I can understand the points you make. Yes, the FI/Forex markets are their namesake. However, I think that the "plebian" market is what will help save them from "regulatory uncertainty". What I mean is, look at all the great things the XRP community is doing! The army on twitter is something to behold. More importantly, developers like Weitse Wind and Stefan Thomas are utilizing the ledger for very neat projects. There are now a few coins that are based on the XRP ledger. And this is just the tip of the iceberg. With such a great community developing separate use cases for XRP, it helps separate Ripple from being synonymous with XRP. This is much more apparent when market sentiment is good. Community development through promotional videos, tweeting, and AMA's help drive the plebian market to continue thriving. We are the saving grace for Ripple. I'm not saying that without separate developers, Ripple is synonymous with XRP.... but, I am saying that we make it a lot easier to make a clear distinction which is so crucial especially in the coming months. You are right, ripple wants to move much of their xrp our of escrow. Both to make money and to develop the ledger ecosystem. But, they can only move so much money out as long as the monthly volume remains this low. They dont want to manipulate the market and raise unnessecary FUD. In the end, I see both markets as crucial to the success of the XRP ecosystem. Without positive sentiment, we go nowhere fast. Also just my 2 XRP. This debate is fun.
  13. Of course they care about the xrp market. They are the largest owners of XRP. They want the price to go up. Brad Garlinghouse has said this multiple times. David Schwartz says that a higher price will indicate a healthier market. They are sitting on a war chest. They care immensely about its worth... but they wont manipulate the market to make income off sales. They want to grow the ecosystem organically. Why would you leave so much money off the table? Think again Plato
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