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wrongbenson

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  1. Like
    wrongbenson got a reaction from Cesar1810 in SWIFT's Battle For International Payments   
    If you don't know what problem XRP is trying to solve, you're just trolling, or you haven't done any research - just watch any of the BG interviews, any of the Ripple insight videos, etc ; or even just watch a non Ripple/XRP related interview of these financial institutions (SWIFT, Western Union, banks, etc.) and their presidents, execs when they say they are looking into upgrading their dated legacy systems and acknowledge that they need to innovate or get left behind.
    Even if you're an XRP hater or Ripple hater, and you care even a little bit about the space and these issues, and these people that are positively affected by cheaper, faster, more reliable, trackable remittances, you should still be thanking Ripple and the XRP community. Even if XRP goes to 0 and Ripple goes bankrupt, the space has already been positively affected by Ripple, even at this early stage, and has really been a call to innovation (such as TIPS) and call to action for these institutions, and they're realizing that, with outside competition from fintechs, they can't keep exploiting people the way they have been without repercussion.
    Above is just one of many considerations that Ripple is trying to solve/address. Another obvious one that is related to above is liquidity when it comes to nostro/vostro accounts. And related to that is currency exposure / risk. And related to that is opening corridors to the unbanked, and to countries that FI's can't or don't want to deal with (such as areas of political instability, economic censorship, hyperinflation, etc.). And it goes on and on.
  2. Like
    wrongbenson got a reaction from mike91 in Forbes - "New ECB Boss Christine Lagarde Made A Serious Bitcoin Warning" (specifically mentions her pro XRP stance)   
    https://www.forbes.com/sites/billybambrough/2019/07/07/new-ecb-boss-christine-lagarde-made-a-serious-bitcoin-warning/#5e2125f82ed9
    The Forbes article quotes Mati Greenspan of eToro:
    "Several people have pointed out to me already is that the next ECB boss is incredibly crypto friendly," Mati Greenspan, senior market analyst at brokerage eToro wrote in a note to clients this week. "Indeed, Christine Lagarde who is set to replace Mario Draghi on 1 November is extremely pro digital assets."
    "Not bitcoin, of course, but she has advocated already for state-backed cryptocurrencies as well as settlement tokens like XRP and JPM coin. We can expect that someone so crypto friendly in such a position will be good for the industry as a whole."
     
  3. Like
    wrongbenson got a reaction from Julian_Williams in Ripple eyeing 'multiple' deals after MoneyGram investment   
    They are in the UK during this interview (he also did interview with Fortune in London on same day - 07/25), so that's the reason he is using GBP as an example.
  4. Like
    wrongbenson reacted to hallwaymonitor in Ripple eyeing 'multiple' deals after MoneyGram investment   
    Yahoo Finance UK had an interview with Brad Garlinghouse about MoneyGram investment and xRapid outlook.
    https://news.yahoo.com/ripple-brad-garlinghouse-multiple-deals-moneygram-050000149.html
    Key takeaways from the article:
    "Garlinghouse said active discussions on “multiple” potential investments and acquisitions were currently underway but declined to give further details."
    “If you’re the Bank of Oscar and you’re holding £1 and you want to shoot a payment over to Mexico, you buy XRP with the pound, that takes fractions of a second on any digital exchange; you move the XRP to an exchange in Mexico, that takes about three seconds, there’s an exchange in Mexico we work with called BitSo; they now have the XRP, they sell the XRP, and they buy pesos,” Garlinghouse said. “It’ll start to ramp in Q4 but really we’ll start to see more consequential volumes in Q1,” he said."
    “The more liquidity there is, that means the spreads get tighter. The tighter the spreads get, the more efficient that corridor gets. The more efficient that corridor is, the more comes through there. So there’s a flywheel that happens and once you get it moving it starts to feed itself.”
    “The Moneygram deal is really one of the first scaled use cases of a digital asset in production,” Garlinghouse said. “This is a big deal. If I were betting now, a year from now the Moneygram deal will have a more consequential impact on the crypto markets than the Libra white paper [Facebook’s cryptocurrency project].”
    "Garlinghouse said he expected “over $1bn of xRapid volume” by the end of 2020."
    “Banks that two years ago told me: Hey we love your technology, we’re thrilled to be working with you but we’re not going to use crypto. I said OK great. Some of those same banks are now coming back and saying hey let’s talk about that because they see the value,” Garlinghouse said.
     
    My thoughts:
    - I hope the biggest investments and acquisitions of Ripple will be similar than MoneyGram which will provide more XRP/FIAT liquidity and hence encourage xRapid adoption even more.
    - I don't find it coincidence that Brad is using British Pound (£) as an example. Bitstamp should open GBP corridor "soon" and I hope they will start offering XRP/GBP pairing from the get-go because as an xRapid preferred exchange they would start to gain more revenue from XRP/GBP trading in addition to their XRP/USD & XRP/EUR pairings.
    - Remember that Brad said a couple of weeks back that Libra white paper brought the best week for Ripple ever and also it was call to action for banks. IMO according to Brad during Q3/2020 MoneyGram should bring even more customers to Ripple than Libra white paper did. We should also see xRapid overall volume around $1bn by the end of 2020.
    - Remember that in June 2018 Brad said at least one major bank should be using xRapid in the end of 2018. Well, we got Euro Exim bank in end of 2018 and it is not major bank by any means to be honest. Thus, I won't expect any major banks using xRapid in the end of 2019 as well even if there would be some banks asking about XRP from Ripple right at the moment.
    PS. Credits to Eric Dadoun (@EDadoun) from Twitter for sharing the article.
  5. Like
    wrongbenson got a reaction from Kpuff in Former Ripple employee speaks out, XRP price doesn’t reflect xRapid use   
    To me, that should be common sense. People's perception and sentiment is what drives the price;
    If Bank of America were to announce they were using xRapid the price of XRP would 100%, without any doubt, increase. If they were to use xRapid and not make an announcement, XRP price would probably be relatively unchanged.
    That is even more true for all other crypto about perception and sentiment - especially at this nascent stage where crypto is not mainstream and there isn't wide-spread real-world use. 
     
  6. Like
    wrongbenson reacted to kanaas in Cryptocurrency initiative plans $500 million investment in Justin Bieber’s manager, Blockchain Capital, others   
    Title of OP is misleading as 500M goes to 20 different companies.
    Braun's "Raised in Space" being just one of those 20 to receive only a part of that 500M
  7. Like
    wrongbenson got a reaction from Javim777 in How can we lose?! $50+ Inevitable   
    I don't really agree with anybody that says that the price needs to be X in such and such scenario and therefore price will shoot up to X as soon as that scenario comes into play. To me, if that is true, that is a bad thing. That means to me that if the price doesn't appreciate to X, then the use-case wouldn't work and Ripple would fail for that use-case, and at current price, many use-cases would already be dead.
    I think the more important thing is liquidity and trade volume. If the price of XRP was $0.10 and trade volume was 100 billion USD a day, it'd be much healthier as a bridge currency than if XRP price was $589.00 but the trade volume was only $100,000.00 a day. 
    Correct me if logic is wrong.
  8. Like
    wrongbenson reacted to 2ndtimearound in How can we lose?! $50+ Inevitable   
    Banks will not hold a volatile asset like XRP.   Also the flow of money is asymmetric.  You can bet that there will be more money flowing from the US to Mexico than from Mexico to the US.  So in that case, Mexican banks would be piling up XRP and US banks would have to keep buying XRP (as the XRP are not returned to them in anywhere near equal value).  The Mexican banks would have to sell their XRP on the open market...well that's how xRapid works anyway.  xRapid buys and sells on the open market.  Banks hold no XRP so they don't even have to worry about it.  However, it does mean that the open markets need to have enough liquidity to facilitate these transactions without the price slipping too much one way or another.  Slippage might sound good (Shane Ellis theory), but it's a sign of illiquidity.  xRapid working for a handful of transactions before we run out of buyers on the recipient exchange means it would be essentially useless.
  9. Haha
    wrongbenson got a reaction from Nouk in How can we lose?! $50+ Inevitable   
    Ah thanks for the education. Let's meetup on our yachts soon.
  10. Haha
    wrongbenson reacted to Nouk in How can we lose?! $50+ Inevitable   
    done. Corrected.
  11. Like
    wrongbenson got a reaction from Nouk in How can we lose?! $50+ Inevitable   
    I don't really agree with anybody that says that the price needs to be X in such and such scenario and therefore price will shoot up to X as soon as that scenario comes into play. To me, if that is true, that is a bad thing. That means to me that if the price doesn't appreciate to X, then the use-case wouldn't work and Ripple would fail for that use-case, and at current price, many use-cases would already be dead.
    I think the more important thing is liquidity and trade volume. If the price of XRP was $0.10 and trade volume was 100 billion USD a day, it'd be much healthier as a bridge currency than if XRP price was $589.00 but the trade volume was only $100,000.00 a day. 
    Correct me if logic is wrong.
  12. Like
    wrongbenson got a reaction from GiddyUp in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  13. Thanks
    wrongbenson got a reaction from Hodor in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  14. Like
    wrongbenson got a reaction from Kpuff in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  15. Like
    wrongbenson got a reaction from BBS in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  16. Thanks
    wrongbenson got a reaction from hallwaymonitor in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  17. Thanks
    wrongbenson got a reaction from xrpmommy in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  18. Like
    wrongbenson got a reaction from cryptoxrp in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  19. Thanks
    wrongbenson got a reaction from Prometheus_Rising in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  20. Like
    wrongbenson got a reaction from eggsarepeas in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  21. Thanks
    wrongbenson got a reaction from Paradigm in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  22. Like
    wrongbenson got a reaction from JTxrPP in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  23. Thanks
    wrongbenson got a reaction from RipDip in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  24. Thanks
    wrongbenson got a reaction from taebuoytogI in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  25. Thanks
    wrongbenson got a reaction from Cesar1810 in [Bloomberg](Video) Ripple's Senior VP (Monica Long) On The US Senate Cryptocurrency Hearing   
    https://www.bloomberg.com/news/videos/2019-07-29/ripple-s-senior-vp-on-the-u-s-senate-cryptocurrency-hearing-video
    July 29th, 2019, 7:37 PM EDT
    Monica Long, Ripple Senior VP of Marketing discusses the upcoming U.S. Senate hearing on cryptocurrency and how she expects to change lawmakers minds on the subject. She speaks with Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
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