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Chris_Reeves

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Chris_Reeves last won the day on August 24 2018

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  1. When the USD is the global reserve, it matters.
  2. It's not usually due to XRP liquidity. It's due to an irrelevant coin being the other side of the pairing. There are a bunch of coins that pay to get listed on exchanges that ultimately don't gain any community traction and it's more costly for the exchange to keep the pairing than they're making in overall volume of fees from transactions. It's commonplace.
  3. All they're going to do is implement regulations regarding the ability to create and maintain Stablecoins. Their goal is to prevent the Tether debacle that is still ongoing. And by that I mean the questions around just printing USDT without having the appropriate dollar reserves to back it up. They won't ban them, just regulate the hell out of them.
  4. that's why liquidity is so critical. it'll bring price stability. and when I say liquidity, I mean depth of order book at a particular price, not the actual price of XRP.
  5. To my knowledge, there wasn't a specific entity working on developing a stablecoin on the XRPL. It was an idea proposed by David Schwartz where it would be backed by XRP.
  6. The better question is why would someone be incentivized to spend a deflationary asset? That is at the crux of trying to make a currency out of a deflationary asset. No one wants to spend it. It's better off being used as back end plumbing to assist the current financial system, not as a currency used in daily transactions.
  7. Conveniently, Ripple is not completing xborder remittances to Canada but I expect that to change with Sologenic coming online
  8. Again, this is something that would have to be done before conversion to local currency.
  9. This contradicts what Ripple says as step 6 already has the conversion from XRP to the local currency. I agree that this method makes the most sense though.
  10. Below is the step by step guide provided by Ripple for ODL Transactions. Take a look at number 7. 1. The sender requests a quote on pricing and FX. 2. Ripple’s technology calculates the pricing and FX across all parties, and returns a quote to the sender. 3. The sender accepts the quote and submits payment instructions, initiating the payment. 4. The send-side exchange debits the sender’s account, and converts that amount (less fees) into XRP. 5. XRP is sent across the XRP Ledger (settles in 3 seconds) from the send-side exchange to the receive-side exchange. 6. T
  11. Let's take a breath and think about this.... what did this news change? They're using Visa Direct in areas where they have a strong nostro/vostro presence without RippleNet members available to leverage the "xCurrent" component of RippleNet. This is no surprise as I'm sure they're using Swift GPI in areas as well. That being said, for Moneygram to specifically say that their treasury department is utilizing the ODL portion of RippleNet in their cross border flows is absolutely amazing! Sure, we'd love to see all of the small transactions utilize RippleNet but there isn't enough liquidity and m
  12. Let's take a breath and think about this.... what did this news change? They're using Visa Direct in areas where they have a strong nostro/vostro presence without RippleNet members available to leverage the "xCurrent" component of RippleNet. This is no surprise as I'm sure they're using Swift GPI in areas as well. That being said, for Moneygram to specifically say that their treasury department is utilizing the ODL portion of RippleNet in their cross border flows is absolutely amazing! Sure, we'd love to see all of the small transactions utilize RippleNet but there isn't enough liquidity and m
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