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meatgrinder

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Everything posted by meatgrinder

  1. I noticed this in a document on the ACI Homepage (https://www.aciworldwide.com/-/media/files/collateral/trends/instant-payments-the-journey-so-far-tl-a4.pdf) Jeremy Light is now: Source: https://www.fintechconnect.com/speakers/jeremy-light Interesting, isn't it?
  2. "Ripple doesn’t replace local rails and standards (like SWIFT). Rather, it connects them. Today, every bank in the world relies on correspondent banking for cross-border payments. Every link in the correspondent banking chain creates costs in the form of fees, risk and time delays. There are only five or six global money center banks that provide liquidity for cross-border payments so foreign exchange rates aren’t competitive. On Ripple, banks can transact directly with each other, instantly and for free. By way of example, Ripple enables a bank like Fidor in Germany to provide Europe to U.S. real-time payments to its customers at a fraction of the cost by working directly with a bank like Cross River Bank. In that scenario, Ripple connects SEPA to ACH and works with SWIFT’s messaging layer, so another bank in the U.S. or a bank in Europe could actually use Cross River Bank or Fidor Bank as its “correspondent” to get more competitive rates and delivery speed, which is a new business opportunity for banks who aren’t the top five."
  3. Considering all the good news I really think we will get to 10$ EOY
  4. nice to see the price of xrp rise more than btc. some time ago I thought the price would be much more attached to the price of btc...
  5. Not mine. But this made me understand it: Let's assume the USD's value is coming from EUR and CHF. Where EUR is giving $50 to USD, and the CHF is also giving $50 to USD. Now the value of USD is $100. Let's now imagine EUR/USD goes down and now the EUR is only giving $0 to USD. Now the value of USD is only $50 because it still has $50 from CHF. It's a very simplistic example but that's how correlated pairs work in Forex. Since all of our currencies are traded in BTC, so when you trade XRP on an exchange you use XRP/BTC, you don't use XRP/CHF, it's all in BTC. And since all cryptos use BTC for trading, then the value of those cryptos is essentially 100% related to BTC. If BTC goes down, then they all go down. Now let's imagine that in the future on exchanges we will see more XRP/USD and less XRP/BTC, this means that when BTC will go down it won't matter much because the value of XRP is supported also by USD as it is traded directly against USD and not BTC.
  6. See also this news https://cryptoanswers.net/bittrex-ditches-tether-ads-usd/
  7. https://cointelegraph.com/news/major-cryptocurrency-exchange-bittrex-to-add-usd-trading-reopen-new-user-sign-ups What do you think? Will this help detach the xrp price from btc?
  8. "But does it really?" it seems to me, when i look at the live prices, but I am asking. I don't know the answer
  9. yeah maybe a lot treat it like a random altcoin. but i assume that there are also a lot of people who buy because of good news. that's why I think it depends so much on btc price
  10. First of all, a big hello from switzerland to all of you I'm a hodler and I'm not worried about the dip because i do believe in the zerps but I have e general question. why is the price of xrp so much correlated to btc? i know the most exchanges pair xrp and btc but it seems to me, the movements are exactly the same. is it possible, that all the good news cause a lot of xrp buying but it doesnt show in xrp price because of the correlation? i mean in this case it seems to me that all the good news don't matter at all and we only have to hope that btc is going up. at least for the moment, as long as this correlation is a fact. i can't imagine that people are selling xrp because btc is falling and buying xrp because btc is rising always in the same amount. i mean if you want to buy xrp und you have to buy btc first to trade it to xrp and hodl them, the price should not be affectet by people who sell btc, because no xrp is sold. I apologize if this has been asked a lot before and would like to understand this
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