Jump to content


  • Content Count

  • Joined

  • Last visited

Reputation Activity

  1. Like
    xrpmeplease reacted to mistatee2000 in Panel with Asheesh Birla @ 2020 Goldman Sachs TMT   
    I don't think anyone knows really. In 2017, David Schwartz thought that XRP could be worth $10 by 2020, maybe. That was just a guess from a key figure. Nobody will judge him on it, but no one can accurately predict this market either, especially not in 2 to 3 years.
  2. Like
    xrpmeplease reacted to ed1 in Does Novogratz have a point?   
    I really don't see an issue with Ripple's XRP holdings. In fact, concentration in Ripple's hands is actually a positive as long as Ripple's interests are aligned with the XRP which is simply economically the case. I would be more concerned if Ripple only had a small amount of XRP, then they could essentially pivot away from the XRP strategy to promote other DAs, or simply DAless alternatives etc. Now we know for a fact that XRP is an undeniable part of their vision for the company.
  3. Sad
    xrpmeplease reacted to lucky in Does Novogratz have a point?   
    It may be more difficult to distribute $6bn when nobody uses the asset, than distributing $600bn when it is widely adopted.
    Anyway, distribution of XRP is far less than distribution of BTC, and the difference is that revenue on BTC distribution is wasted on energy and asics, revenue of XRP distribution is used to pay salaries.
    Novogratz is either a fool or has an agenda to push the "halving will push BTC price up" narrative. To counterweight the other possible (and not unlikely) outcome of the halving: chain death.
    I think he is a fool.
  4. Like
    xrpmeplease reacted to BAX in Does Novogratz have a point?   
    Xpring companies that dump XRP its true that they are creating a short term pressure on the price, but they are a few(1-2-3?) billions XRP that they invested in these startups and really this is nothing compared to Ripple holdings of $56 billions XRP which they can't use all at once because of the ecrow.
    So my point it that this is not a concern if you are watching longterm.
  5. Like
    xrpmeplease reacted to Ripple-Stiltskin in Does Novogratz have a point?   
    Producing goods on stock before there’s nearly enough demand ( and with the uncertainty that there ever will be) isn’t a very “ Lean” way to do business.  Push instead of Pull.  Maybe there was no better way, but this comes with high risks and has led many enterprises to bankruptcy. 
  6. Like
    xrpmeplease reacted to lucky in Does Novogratz have a point?   
    A decentralized digital asset can only work if the asset is distributed.
    XRP has no mining process to do that distribution, and for a very good reason: it is inefficient and wasteful. So it has to be distributed by preallocation ("pre-mined"). There is NO other way.
    The geniuses that created XRP ledger have created a company to do the distribution. All the incentives are aligned: company needs the asset to be distributed (used), and company also wants the asset to be as valuable as possible.
    To then say: "the company holds a ridiculous amount of XRP" just means you don't understand the whole idea.
  7. Like
    xrpmeplease reacted to JA8 in Does Novogratz have a point?   
    I assume (perhaps I'm wrong?) that the 50bn XRP are on Ripple's balance sheet. If they aren't, then that does change things a bit I think.
  8. Like
    xrpmeplease reacted to Skippy in Does Novogratz have a point?   
    What if 50B of XRP was held by a hypothetical "decentralized" entity which whole purpose was to invest the capital from XRP sales back to the XRP ecosystem?
    Now how much does Ripple differ from this?
  9. Like
    xrpmeplease reacted to DutchBeetle in Does Novogratz have a point?   
    He could very well be right, but it doesn't matter. This is a long term game. Every million $ of XRP sold by Ripple helps to build the ecosystem, whereas every million $ of minted and sold Bitcoin by miners flows for 95% to energy suppliers and mining equipment. Up to you to decide which type of network/infrastructure has better opportunities to grow.
    Fact of the matter is that the XRP-community has to have faith in the strategy of Ripple for the years to come. For the medium to long-term other players will join the team!
  10. Like
    xrpmeplease reacted to ixarepe in Does Novogratz have a point?   
    Longtime XRP investor here and bullish on XRP. Nevertheless I think Novogratz raises a fair point. 
    "Ripple the company owns 60 billion of the coins, of the XRP,” Novogratz began. “That’s a lot of it.”
    “When I’m buying a stock, if I know [someone’s] selling $10 billion-worth of it at some price, it makes me less excited to buy the stock,”
    “It did underperform immensely last year,” he told the audience. “I think it will underperform immensely again this year and it’s just because of the supply.”
    This is not about comparing XRP to shares (because they are not). But about the sheer amount of XRP Ripple is holding. 
    I was part of the 'sword of damocles' discussions before the Escrow thing and although the Escrow construction mitigates part of the issue, for all practical purposes the hypothetical ability to 'dump' 1 billion XRP on the market each month is still looming above the market. 
    I know the argument about how this is not in Ripples interest but would rather see an automatic release mechanism tied to an x% of growth. 
    Growth is decreasing below the set percentage then release of XRP is decreasing (maybe even buying up XRP). And vice versa. 
    Curious to hear what you think. 
  11. Thanks
    xrpmeplease reacted to strikerjax in Ryan Selkis on XRP   
    Source:   https://messari.io/podcast/say-something-nice-about-xrp-tbi
    Ryan Selkis : 
    "The latest episode of the Unqualified Opinions podcast with Bitso CEO Daniel Vogel is one that the #XRParmy is going to love, and details how XRP the asset (not ripple software) is actually being used for cross-border remittances.
    Before we get to that, contrary to what you might think, I don't hate Ripple or XRP.

    Yes, I've called out the company leadership for lack of transparency, and yes, I've compared the company to Dr. Jekkyl and Mr. Hyde because of its strange business model. But I actually think Ripple's tech is interesting, and the asset could prove successful under a certain set of (admittedly unlikely) scenarios.

    Here's what I said recently on Abra's Money 3.0 podcast when asked about Ripple: 

    "Well, I think Ripple the company has built one of the more impressive tech stacks and has much closer to product-market fit than 99% of other projects that are in crypto. The issue has always been what I’ve called the Jekyll and Hyde of crypto. 

    On the one hand, you’ve got Dr. Jekyll who’s trying to dis-intermediate SWIFT and working with all these banks and got this phenomenal team and board and advisory members and they are creating interesting tech, solving real problems, and were very early as pioneers in the industry. But then there’s Mr. Hyde, who comes out with these bullshit transparency reports where they kind of obfuscate how funds are actually flowing and they’re not quite transparent about the actual funding model for the company, which is more or less a continuous fundraise, but one that’s treated as revenue. 

    The party line is that they just stumbled across this 80% of XRP that was gifted to their balance sheet - a "found asset" like oil - rather than being sold as a security. But we don’t really care about the securities law aspect of it. What we do care about is whether the XRP currently outstanding is truly circulating or whether it's encumbered in some way, shape or form.

    If a sizable portion of XRP is encumbered, then two things happen: 

    One, they’re understating the amount of sell-side pressure from insiders that will happen over the course of time. And this is what’s actually played out over the course of the last 18 months. 

    Two, their market cap is overstated, which means that anytime that there’s a basket weighted index with XRP, the index creator is going to go overweight XRP even though a good chunk of that XRP is either in escrow by Ripple, or is currently held by one of the insiders. It’s subject to some sort of structured reselling agreement. When we started to look into this, it was more about that issue of whether that’s at all sensible as a way to report on the supply. 

    But I’ll tell you right now, I still think that Ripple could end up doing very well if the banks take the bait and are offered sweetheart deals to buy some of these assets for pennies on the dollar, 50 cents on the dollar in return for actually partnering very publicly with Ripple. So, it’s like "fake it until you make it coin." The revenue model and what the company actually delivers are two very, very different things."

    The point of contention for me has always been how much XRP is actually being used within the company's core payments platform! And the answer has typically been: not really!    

    But this interview with Daniel Vogel, CEO of Mexico's largest crypto exchange and remittance company, Bitso, is illuminating. It highlights how Ripple could deliver on the sky-high expectations they've set for XRP adoption. And it's one the #XRParmy is going to love.

    Vogel explains how the company is utilizing XRP to catch a piece of the $35B in remittances that flows across the US-Mexico border each year. Sourced mainly from (Ripple porffolio company) Moneygram in the US, Bitso saw $18M in XRP remittance volume in the final week of December, a figure he claims has been growing 15-20% each week.

    Daniel says they're aiming to capture 20% of the weekly US-Mexico remittance flow by the end of 2020! 
    Beyond highlighting a clear win for the Ripple team and XRP, this conversation sheds light on a region of the world that is ripe for crypto adoption beyond pure speculation. Bitso's home country of Mexico is home to 125 million people, 87 million of which have smartphones while only 40 million have bank accounts - only 22 million of these bank accounts are active. Basically, the perfect ingredients for crypto adoption.

    For now, it's at least one example of a market where Ripple and XRP are seeing real traction. Time will tell if that recipe is replicable in other markets."
  12. Like
    xrpmeplease reacted to lysistrada in The big problem with XRP, and why you'll be waiting (a very long time)   
    Ok, so first off.  Thank you for the topic. While I am going to play devil's advocate below, I want to say that don't really disagree with you.  And for those of us who aren't into XRP because we simply are trying to make some fast cash, your timeline is entirely acceptable and - in fact - in my case I accumulate gradually and HODL based upon literally the price projection you have suggested; $30 USD in a decade.  I suspect this is very conservative, but that's literally the number I use. I would be delighted to reach that.
    And... I would like to first support your point by stating something that I have always said.  Most banks - save for some of the ones with truly speculative principal investing arms like Goldman - really just want to make money through usury.  That's it.  They make money by lending money at a higher rate of interest than they payout for those who put their money in their bank.  It's the age old formula for true wealth building.  At their core, this is who banks are.  Now... that said... They have to be able to send money domestically and internationally because that's what customers want/need, but in the end that's not their focused profit center.  Lending money is and so innovative new tech is really not that compelling to them even though being able to send money cheap and fast could be used by certain banks seeking to currying direct customer favor both on the consumer and business side.  But I agree that this is a value prop for them, but not one that's going to make their turtle pace really increase much.
    Here's something you are not thinking about, it appears.  At least in this paragraph you've written.  I don't mean to suggest you are not aware of it.
    But the value prop for ripple's software is not only that when used in tandem with ODL/XRP for settlement, nostro/vostro accounts become unnecessary... it's also an entirely superior bi-directional messaging system that drastically reduces their risk of loss from fraud and abuse.  This should not be disruptive tech, because it's so simple and basic, but it is because banks are so backward in their adoption of technology (to your point).  And this aspect - I believe - is in fact compelling enough to make banks move fast.  I will confine the remainder of this discussion to the domestic US ACH system for simplicity, but these concepts apply to international money transfers as well.
    I own a small business that needs to move money relatively fast in order to be successful.  This is not a theoretical, by the way, this is true.  And in order to move money from my company to a recipient on a same-day basis, I have to use the current ACH system and I have to originate an ACH credit.  This system, as it presently stands and as it is in all US banks, is where I communicate to a central bank via a NACHA file to move money from a central bank to my intended recipients bank. Now, I do this through my company's bank, but in order for it to move fast, it literally is transmitted from me to the central bank immediately without my bank even noticing.  Here's the problem, the central bank has no idea if my account has sufficient funds to cover the settlement of this.  When I was first being underwritten to do ACH credits, I couldn't figure out why... like, dude... don't give me a full body cavity search in order to send money... just don't let me send more money than I have; simple... but it turns out that the system is not setup that way; there's no automated validation of funds in the originating account in place and it has to be done manually which is expensive and manpower intensive. So...at this point and after years of my moving lots of money safely and without issue upon settlement, my bank has underwritten me to be able to move $100K per day without any need for their oversight based upon my business account's average daily balance.  So... let's say that I fall on hard times and I am of the morally flexible sort... I could literally drain my business account and then conduct an ACH credit of $100K to an account I control and then drain that account before anyone notices.  Think this doesn't happen?  It happens via various iterations to the tune of billions of dollars of year.  There's a whole element of bank fraudsters who do this literal thing all the time.  Billions of dollars in loss annually to taking advantage of this system.
    Enter Ripple's messaging software, which used to be called xCurrent.  It is bi-directional so rather than an overnight domestic payment simply being a matter of a bank trusting someone that they won't move money they don't have, there's an actual two-way validation process in place.  So, as it is now, uf I want to move money from my account on an overnight basis via domestic ACH credit, it's a matter of being like, "yo, central bank... move this" and it happens because I am simply trusted which is inherenty flawed and insecure... with Ripple's messaging software, however, its like, "yo... central bank, move this" and the central bank is like, "hey bro... sure, but let me just make sure you have funds to cover this.  Ok, you do. Cool, green-lit"... 
    Let's be clear. This is not amazing technology. This is not machine learning/AI sort of stuff.  The only amazing aspect is that it's taken until now to do this.  So think about this value prop in terms of the ultimate agenda of banks.  They want to be usurists, but they ALL want to not be defrauded and lose money and they all get massively defrauded now.  If they're all on this system, they all will do better and they know it.  Banks don't love to cooperate, in general, but they have a legacy of cooperating around things like this which will benefit all of them entirely by cutting down on fraud and abuse.
    I am suggesting that this factor will make them move faster than you might think.  Not fast.  No, banks don't move fast.  But perhaps faster than you think. 
    So let's say they move fast to adopt this tech... and this tech just so happens to be pre-packaged to work well with XRP-based settlment via ODL.  It's age old shoehorn strategy whereby this desperately needed tech is the shoehorn and ODL is the shoe. 
    Thank you for the topic.  It's a really good one.  And I don't see what you've written as anti-XRP at all.  I see it as being a realist and I wish there was more realism in the pro-XRP world.
  13. Like
    xrpmeplease reacted to xrphilosophy in Framework for CBDC's   
    The market is low.  I think that's about it.  Fear sets in as we have seen on xrpchat and elsewhere.  First look at an escalating market, and everyone will feel brilliant again.  Unfortunately it's that simple- just the reptilian brain at work.
  14. Thanks
    xrpmeplease reacted to QWE in is XRP's strength clarity of global regulations?   
    Thank you for commenting on my "lawyering abilities" as you call them, I will refrain from commenting on yours, no need for name calling in a civilized debate.
    Ripple and their lawyers are avoiding the securities arguments, because they don't need to go down that road at all. They just need to win the case. You presume the case will have to determine if XRP is a security or not. I would argue that it will never come to that at all, which is what Ripple is trying to achieve with this motion to dismiss by stating that the question of XRP being a security is completely irrelevant, because even if it were a security, it would not change the outcome of the lawsuit.
    Other lawyers seem to think this is the case as well, so I am not alone in my opinion. From the article: https://www.coindesk.com/whats-next-in-the-securities-case-against-ripple-over-xrp
    "But the suit is not likely to settle the matter, legal experts said.
    “No one’s finding out whether XRP is a security anytime soon, if ever, at least through this proceeding,” said Rebecca Rettig, a partner at FisherBroyles."
    You are insinuating all over the forum that XRP is a security, even throwing out January 15th as a date to watch for. You even state you are shorting XRP because of it. In reality, the question whether XRP is a security will definitely not be answered on that date and most likely not for a long time.
    EDIT: let me explain what I am trying to say with the simplest example I can come up with.
    A lawsuit I was involved in stated that a customer wanted to return a machine for a full refund under warranty to the seller because the machine was broken. The lawsuit was dismissed, because the machine was actually already out of warranty (after 1 year). We never determined if the machine was broken or not, because we did not have to. Stating the machine was out of warranty did not mean we are admitting the machine was broken. The state of the machine was irrelevant.
  15. Thanks
    xrpmeplease reacted to WrathofKahneman in is XRP's strength clarity of global regulations?   
    This is insane. Ripple is being sued.  At issue is whether they are a security.  They are not required to make any particular case, only to win it.  If it comes to it, the courts can rule on the category of investment, but Ripple is not compelled to do so, especially if they can win their case on procedural grounds.
  16. Confused
    xrpmeplease reacted to Sporticus in is XRP's strength clarity of global regulations?   
    The conclusion  which Ripple makes that XRP is not a security is not supported by an examination of Howey or the no action positions of the SEC which I linked.  Neither is the logic of securities law as applied to crypto discussions made by Director Hinman addressed which I likewise linked. 
    The Fortune article I quoted above and re-quote comes to the same point I have.  Ripple does not respond on the merits under relevant law (Howey) why XRP is not a security. It asks us to assume that XRP is a security and therefore is exempt based upon the statute of repose.  Which is a bogus argument.  It is like Ripple is saying "I ***** a woman three years ago and she did not report me, so after three years,  I can go **** another woman and that is alright.and I should not be prosecuted" Dumb defense and not supported.
    The refusal on the part of Ripple to discuss the relevant law and differentiate itself from the current positions of the SEC is a concession to the fact that XRP is a security. The FinCEN consent agreement is quoted above too and no SEC or FIN Cen regulator have said that XRP is a "currency" and not a security.  
    Really crappy lawyering and your lawyering abilities are nonexistent.
  17. Thanks
    xrpmeplease reacted to QWE in is XRP's strength clarity of global regulations?   
    You're kidding, right? The part that you quoted was made arguendo, stating that even if XRP were a security, it would already be too late to file the case. You yourself admitted the statement was made arguendo, or would you like to change your position on that? Just so I know which part to address. And please note, as I quoted from the filings, Ripple specifically stated XRP is not a security. Or are you saying Ripple is contradicting its own statements?
    A simple quote from wikipedia for anyone following this debate:
    "A criminal defense attorney may say, "if, arguendo, my client stole the internet data and password, then saving a life would have justified stealing it," thus suggesting that determining the client's guilt or innocence is pointless because they would cause identical legal effects."
    This is exactly what Ripple is saying (among other things) in that response. The debate on XRP being a security is pointless for this case, because the legal effects for the Plaintiff would be identical either way.
  18. Confused
    xrpmeplease reacted to Sporticus in is XRP's strength clarity of global regulations?   
    " Based on his allegations, Plaintiff’s federal securities claims are barred by Section 13’s statute of repose, which strictly forbids claims brought “more than three years after the security was bona fide offered to the public.”
  19. Thanks
    xrpmeplease reacted to QWE in is XRP's strength clarity of global regulations?   
    This is simply false, and to support my argument, I quote Ripple's reply to Plaintiff's response (page 1):
    "Opp. 1. XRP is not a security, Mot. 21 n.19, but that is irrelevant for purposes of this motion. Even if XRP were a security, Plaintiff’s claims still fail as a matter of law."
    Ripple is opposing Plaintiff's arguments even in the case XRP was a security, but are clearly repeating their position that XRP is not a security.
    EDIT: I read your post again, and indeed, you actually agree with this yourself. As you wrote, arguendo, for the sake of the argument, Ripple states that even if XRP was a security, the Plaintiff's claims do not hold. This is not the same as them stating XRP is a security, as you state in your post:
    Please, support your argument with a quote where Ripple admits that XRP is a security. That statement is absent in most recent court filings, but I was able to find a quote from Ripple explicitly saying it is not a security from the same court filings you supposedly cite.
  20. Confused
    xrpmeplease reacted to Sporticus in is XRP's strength clarity of global regulations?   
    So, Ripple concedes arguendo, that XRP is a security, but tries to shield itself behind the statute of repose. In order to use the statue of repose concerning securities, Ripple assumes XRP is a security, Ripple alleges the statute gives a time bar defense to one who issues a security. The Plaintiff asserts that the time runs from the last issuance of the security. 
  21. Like
    xrpmeplease reacted to Xrpdude in Reality Check.. Uh Huh Huh   
    @ElvisLives way down that's right but I want you to understand, yes we've fallen like Kentucky rain but the issue here is getting your xrp back, return to sender as it were doesn't mean one night of sin anymore, not sure where you got ninety days from but that's the wonder of you. Back in 2017 you could get your money out in an hour too from Kraken. That's right teddy bear, one hour. But a fool such as I didn't cash out, wish it did, breaks my wooden heart, it's always on my mind
  22. Like
    xrpmeplease reacted to Tripple in Do State Backed Cryptos Mean the Window is Closing For Ripple?   
    In terms of Ripple's use case for XRP - it will be used as a liquidity solution in emerging markets, to improve high-friction payment rails, and to facilitate growth in otherwise traditionally illiquid markets depending on the reach of RippleNet. It'll open up opportunities that weren't previously viable - rather than replace the majority of current payment rails (at least initially). So I think you're comparing apples to oranges.  
  23. Like
    xrpmeplease reacted to Mpolnet in Analyzing Future Potential Capital Inflow Into XRP   
    Apologies in advance for the long post but stick with me on this one, hopefully some of you will find it interesting. As always, I welcome any and all feedback and contributions to the analysis and thinking presented below. 
    Firstly, the link below is from this years SWELL conference and features Navin Gupta (of Ripple) speaking with Dr. Raghuram Rajan (former Central Banker for India). They discuss a wide range of topics from micropayments, financial inclusion, globalization, trade finance, regulation, stablecoins, etc. Dr. Raghuram Rajan also provides the best explanation of what XRP is and it's intended purpose that I've heard to date. While watching the discussion there were a number of points made about how countries can encourage the development of new technologies through sandboxes in addition to points made around how regulators get comfortable with digital assets in general. The more countries allow experimentation and go from pilot to production, the greater the potential for collaboration and new entrants into existing industries. Paytm was a great example. For anyone who hasn't watched the video, I highly recommend it (not sure why it's linking poorly).
    This discussion got me thinking about what markets XRP is currently available in - where fiat/XRP pairs exist for that countries native currency. Given there's over 180 countries, I think it's critical to think of XRP's exposure to the world on a macro level, rather than just thinking about how the large countries interact with XRP. Thinking this way can give us a potential idea (or way to think about) the potential capital inflow into XRP that has yet to be tapped. I've heard numerous times that in order for price to rise we need a new wave of buyer - I think this could be a good starting point of thinking about where that new wave might come from. 
    Below is an analysis taking info from xrparcade (big thanks to @LeonidasH for his huge contribution to creating and updating this). It shows countries ranked by GDP output (countries are ranked by the IMF) - it then shows the number of existing exchanges with fiat/XRP pairs for that respective countries native fiat currency. As shown below, there are still a lot of countries that provide potential investors with minimal or no exposure to investing in XRP. 

  24. Like
    xrpmeplease reacted to Julian_Williams in Brad Garlinghouse leading crypto and blockchain regulation   
    It is impossible for anyone/country looking at cross border payments to ignore Ripple/XRPs contribution and vision of what future cross border payments will look like. 
    Once you pencil in data rich, frictionless, instant, secure, costless, streamed cross border currency into your vision of the future your sight expands across a new landscape that is run on mobile phones, tokenised, no longer dependent on reserve currencies like the dollar, inclusive of backwater currencies of underdeveloped countries.  Your mind races towards imagining what sorts of regulations will be needed for undreamed industries.  Ripple is totemic of this new world order.
  25. Like
    xrpmeplease got a reaction from mariusthegreat in What's your drop dead give up date?   
    I don't understand the drop dead dates people arbitrarily choose and the supporting argument that the competition will catch up...liquidity will be the base utility grows from (as far as I understand it anyways), and that's going to take time to build, so as long as that's improving over time, how does someone magically "catch up"? and I think people need to reconcile themselves with the idea its gonna take years to get there, i'm resigned to anywhere from 3 to 8/9 years before we see any appreciable sustained price upwards movement (which admittedly are totally arbitrary figures as well).
  • Create New...