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  1. Like
    xrpmeplease reacted to LeonidasH in Banesco Panamá and Scotiabank Chile testing cross border payments with Ripple   
  2. Haha
    xrpmeplease reacted to Tinyaccount in [VIDEO] This is going to be a record week for RIPPLE says Brad Garlinghouse   
    He’s busy at the moment brilliantly trolling Craig Wright....
  3. Like
    xrpmeplease reacted to RikkiTikki in Bloomberg and SEC alum Michelle Bond joins Ripple as head of government relations   
    Power Moves are being made here.. It is amazing how a lot of folk vested in digital assets don't get what is being done here.  The thought of a DA that runs roughshod across the land railing against regulations is Ludacris at best.  Not saying we can't have something that takes the bank fee's to a minimum and makes transaction more fluid(Hello XRP) and can even give power to non banks(Fintech industries)but man I shudder the thought of DA's moving without optimal regulations in this day and age both fintech, traditional financial institutions and especially customers need the protections.  It is more needed now than any other time since the invent of banks as we enter a new frontier of moving money and high tech stage coach robberies etc.  I for one am glad to see Ripple having the best interest of XRP at hand here. No other DA has this forward thinking going on for it and action to boot behind it.
  4. Like
    xrpmeplease reacted to T800 in Why libra is inferior to xrp   
    Using the Facebook app and using the Facebook coin are two different things.  
  5. Like
    xrpmeplease reacted to spiras in Why libra is inferior to xrp   
    I'm going to try to keep this as simple as I can.
    Libra is a stable coins tied to multiple currencies.  That doesn't work. I'll explain below.
    But first, we have to understand that stablecoins, by definition, don't increase in value, which limit incentive/reward to buy, hold or use.
    In a simple example of stable coins with just one peg, when the supply is insufficient for a purchase, simply more stable coins are printed, price doesn't change.  The amount of money taken in is held in reserve until cash out.  This creates a risk that the entity holding the reserves is honest, doesn't take a commission, and invests or stores the reserve safely. 
    Someone has to hold the reserve and perform work to keep a ledger and process transactions.  This isn't free, so the management costs will constantly have to be paid by someone, will have to be taken from the reserve holding, a fee has to be charged,.or the reserves invested for growth. (See risk above).  Simply, someone has to pay.  On top of all this, the underlying peg currency has to remain stable itself (not going to happen).  If all people want to cash out of a stable coin, someone is going to lose.
    Now, let's complicate the stable coin by tying it to multiple pegs.  In this case, let's say we're tying the stable coin to the value of USD, EURO, JPY, YUAN.  Now we have to decide how the value of the coin will be derived. 
    Example 1: Let's give each currency 25% of the weight of the value of the stable coin.  
    In ANY scenario, of multiple pegs, one will perform worse than the others.  The people who would MOST benefit from a stable coins would be those that denominate in the worst performing peg.  The people would would LEAST benefit are those that denominate in the best performing peg.  Thus, people from the WORST pegs will put in the most, to the reserves.  Over time, the reserves (money that was taken in) will be disproportionately from the lowest performing peg, causing a gap in the reserves held and the stable coin market cap.  Because the value of the stable coin is determined by a equal average of the pegs, Not everyone will be able to cash out.  And this doesn't even take into account the costs associated with the maintenance of the coin or the transaction processing or the risks of an entity holding/investing the reserves.
    Example 2: The stable coin value could be derived from the value of the assets held in reserve.  This would allow the reserves to meet the market cap value (everyone could cash out) despite the imbalance in peg performance over time.
    Needless to say, the costs associated with the operations, combined with the imbalance in peg performance  would lead to a guaranteed loss of value over time by all stable coin holders.  What would be the point?  Just to send money to your Facebook friends?
    On the other hand - When the supply isn't available  for an XRP purchase, the price has to go up to exactly the amount needed to entice holders to sell enough to meet the demand.  Same with selling.  It's an open market with price based on supply and demand.  Almost no cost and no reserves that need to be managed.  No central party needed to hold reserves.  The value is in the utility, potentially increasing over time as new use cases are created.  This could be a good place to hold your money to maintain or grow value; however, not without risk.
    Stable coins guarantee loss.  All risk, no reward.  The only people who make money here are those who control and/or manage the system.  Clearly this is why Facebook wants to creat a centralized copy of XRP for their own gain, when a decentralized version already exists.  If Facebook really wants to improve the world, why do they need to reinvent the wheel into a system that benefits themselves?  Why not just build on what's already out there?
    Open market coins, such as XRP have risk of loss, but also come with potential reward.  Choosing the right open market coins to invest in- those that can demonstate utility, can will lead to value growth to the asset holder - rather than the giving the value gains to the system or people who control the system.
    I realize this is simplistic and there is a lot more involved, but this post is long enough already.  
  6. Like
    xrpmeplease reacted to Phintech in Blockchain company Ripple invests in MoneyGram to power cross-border payments, shares explode higher   
    This partnership is 1000% about greasing the wheels of network liquidity, towards the greater goal of being THE protocol of choice for the IoV.  
    When money moves like data does today, all of the “concerns” mentioned in this thread will be meaningless.  
  7. Like
    xrpmeplease reacted to Dario_o in Blockchain company Ripple invests in MoneyGram to power cross-border payments, shares explode higher   
    At Ripple they'll surely help MG start using xRapid for the available corridors right away, freeing up the MG prefunded accounts in those countries.
    MG will use these funds to reduce company debts and interest costs. Rinse-repeat each time a new xRapid corridor is ready.
    Imagine what happens if they are able to help MG returning to profit in just a few years.
  8. Like
    xrpmeplease reacted to mrenne in Blockchain company Ripple invests in MoneyGram to power cross-border payments, shares explode higher   
    I think it's both:
    Ripple has understood that no large commercial company is going to take the risk to make the first steps (or it would last so long that the tech becomes outdated), investing a lot of time and money in a project with an uncertain outcome, whereas others will catch up in no time with little investment, once you paved the way. Second, they have also learned that no bank is going to adopt xrp if they don't absolutely have to.
    And Moneygram is slowly dying, they were in urgent need for something new, something refreshing, offering them a possibility to survive. They had seen the advantages during their trials last year, but they had also seen the limitations of the system in the actual low-liquidity status. The partnership with Ripple offers them the possibility to implement the technology, while they have the guarantee both companies will do everything to boost liquidity to the necessary level.
    I still think Ripple should not buy all of Moneygram and concentrate their efforts on other partners and other ways to boost liquidity. Their investment gives them a large company that will use xRapid and that's enough.
  9. Like
    xrpmeplease reacted to Panopticon in Ripple has opened a Swiss subsidiary for institutional XRP sales   
    This is not competition, it is good news because it introduces more currencies that will need to be bridged with a no-counterparty non-acked non-state currency. No major bank will want to use a competitor's coin. It makes zero sense.
  10. Thanks
    xrpmeplease reacted to mars75 in The Issues in the International Payment Space   
    Although arguments can be made against the notion of future adoption of the XRPL by the financial system thru supporting the retention of the current international payment system or emphasizing the technological progress in the SWIFT payment network, they fail to address critical flaws in today’s system. Hackers, political pressure, regulators, and the shrinking correspondent banking system are all legitimate issues that are impacting banking operations.
    Most international payments are facilitated through the SWIFT network today. SWIFT is a messaging network used to send and receive information on financial transactions between financial institutions. Currently, more than 11,000 financial institutions from around the world are linked to the SWIFT network for operations. Typically, the originating bank is required to have a working relationship with the destination bank in international wire transfers. If there is none, the originating bank can search the SWIFT network for a correspondent bank that has one with both banks.(2) Once found, the transaction is transferred through Nostro accounts held at the intermediary bank for a fee to the destination bank. Although SWIFT’s inception has proven to be beneficial in enabling international payments between banks globally, it’s reliance or the monopolistic position has become a double-edged sword.
    Due to their international relationships, SWIFT was viewed as an apolitical organization that was independent of any country’s domestic foreign policy. Unfortunately, this has not been proven the case the past few years as political disputes now threaten to fragment the international payments space. Regardless of your political views towards Iran, the United States pressure on SWIFT to disconnect Iranian financial institutions from the network has been unprecedented. While the action undergone by SWIFT contradicts the European Union’s desires. Although the EU intends to maintain trade with Iranian institutions, SWIFT complied with the US requests.(3) With the consequence being that now the international payment network has become weaponized to exert political pressure onto countries or regions. This undermines the trust within the network as participants can ultimately be on the wrong side of political discourse. Along with Iranian FIs, there has been heavy speculation from US media sources and diplomats that Russian financial institutions might face similar sanctions to their Iranian counterparts in the future.(4) Further eroding any participant confidence in SWIFT remaining apolitical.
    SWIFT’s inability to remain impartial to the network’s participants is already beginning to have repercussions. In Europe, there has been a political push back on the US influence over the payment network. Germany's foreign minister, Heiko Maas, has publicly stated that the EU should "strengthen European autonomy by creating payment channels that are independent of the United States — a European Monetary Fund and an independent SWIFT system".(5) Even more striking were Maas’ comments that the EU had already begun the process of developing an alternative payment system. Both Iran and Russia have also taken similar responses to the EU. Iran has begun implementing an alternative banking platform for banking transactions with foreign institutions.(6) Meanwhile, Russian financial institutions have prepared themselves to be disconnected from the SWIFT network at a moments notice and have begun to adopt another alternative payment system CIPS. CIPS or the Chinese Alternative Global Payments System is also an alternative payment platform provided by China. CIPS was intended to make transactions between China and Russia easier while enticing other countries to utilize the system.(7) Russia has also begun to develop its own payment system called the “System for Transfer of Financial Messages” (SPFS). Essentially, the global political environment has pushed regions or countries to develop or adopt alternative solutions to SWIFT. Creating an ever growing, fragmented international payment network that will require interoperability between systems.
    SWIFT’s security has also been exploited these past several years, further testing the participant's trust of the network. Along with the frequency of these hacks occurring, the severity of them is increasing. Of the top five biggest SWIFT hacks by money lost, four of them have occurred within the past two years.(8) The sophistication of these attacks is becoming so advanced for SWIFT’s liking that they have begun to issue warnings and urge participants to increase their security measures.(9) In some attacks, hackers have been able to order payments to banks in other countries by copying preformatted payment requests into the SWIFT messaging software. Even further eroding trust in the network’s security, it was discovered that the NSA had breached SWIFT’s security and have developed tools for its operations. Thru leaked documents and files by a hacker group, the public was made aware of how the NSA had accessed the messaging system. Possibly setting in an uncomfortable feeling for financial institutions located in Eastern countries that the SWIFT network is a possible vector for attacks.
    Structurally, the correspondent banking system has been on a gradual decline for several years while total volume and value of payments through SWIFT are increasing. The Financial Stability Board conducted a study in which the FSB found that from 2011 to the end of 2017, active correspondent relationships declined by 15.5 percent across all currencies.(1) While for 2017 alone, it declined by 4.1 percent. More recent studies have concluded that 2018 saw declines in active relationships and corridors of about 3.5% and 2% respectively.(11) With the global correspondent banking network now declining by about 20% and the number of active corridors having fallen by roughly 10% the past seven years. This decline in active correspondent relationships has also coincided with the increased concentration within the correspondent banking market. Remaining participants in the network have their market share increase as competing banks exit the system. Both these trends pose respective risks and issues to the banking system. An increase in the volume of payments with the decrease in the number of correspondent relationships is theorized to increase the length of the payment chains. Implying payments will need to be facilitated thru more intermediary parties to reach the same destination. Possibly adding more exchange or transaction fees along with increasing the settlement time. Meanwhile, a concentration in the correspondent banking market introduces an unwelcoming scenario. Theorized consequences include a decrease in the competition of services, leading to higher costs and more fragile networks. As the payment network relies on fewer participants to facilitate payments, the failure of a participant will have greater repercussions as they are more relied on.
    Ultimately, the global political environment is causing a fragmentation of the global payment system while the financial system is gradually entering a delicate state. Both trends have already begun to force global and financial institutions to adapt and find alternative systems. Regardless of what SWIFT can develop to enhance it’s services to its participants, there will be issues the organization cannot resolve. Interoperability will more than likely be the key in enabling the future global payment space to withstand any geopolitical shocks, along with providing a crucial capability if the financial system is under strain due to the structure of the correspondent banking system. Placing Ripple’s xCurrent or ILP in an advantageous position.
    1.      https://bankingjournal.aba.com/2018/11/basel-decline-in-global-correspondent-banking-relationships-accelerates/
    2.      https://www.investopedia.com/terms/c/correspondent-bank.asp
    3.      https://www.ft.com/content/8f16f8aa-e104-11e8-8e70-5e22a430c1ad
    4.      https://www.voanews.com/a/us-diplomat-russia-should-release-ukrainian-sailors-by-christmas-/4688911.html
    5.      https://www.businessinsider.com/germany-wants-european-rival-to-us-backed-swift-payment-system-2018-8
    6.      https://en.mehrnews.com/news/139715/Iran-welcomes-foreign-banks-to-join-its-alternative-to-SWIFT
    7.      https://ethereumworldnews.com/after-ripple-chinas-cips-now-competes-with-swift-departure-from-us-dollar/
    8.      https://medium.com/@kvantorcom/top-5-biggest-swift-hacks-52fca78145c
    9.      https://www.reuters.com/article/us-cyber-heist-warning/swift-warns-banks-on-cyber-heists-as-hack-sophistication-grows-idUSKBN1DT012
    10.  https://www.reuters.com/article/us-usa-cyber-swift/hacker-documents-show-nsa-tools-for-breaching-global-money-transfer-system-idUSKBN17H0NX
    11.  https://www.bis.org/cpmi/paysysinfo/corr_bank_data/corr_bank_data_commentary_1905.htm
  11. Like
    xrpmeplease reacted to lysistrada in Former SWIFT employee comments on impact of Ripple   
    I think the Ripple versus Swift mentality just plays into our human desire to bifurcate issues in an overly simple manner that mentally is no more complex than "Ripple Good.  Swift Bad."  I think the former employee's answer makes a lot of sense.
    In reality, the Swift messaging competitor of xCurrent - to me / in my opinion - was never the key ingredient.  It was a tool to force the hand of banks and Swift to put themselves on a platform that could ultimately use xRapid to instantly settle transactions.  The following is probably a facile analogy, since I can't know the underlying motivations actually present, but you may recall that Google Fiber was speculated to be an initiative to make other ISP's be competitive with regard to bandwidth costs for consumer level service.  I don't know if that's true, but I do know that my neighborhood is now wired for Google Fiber and Google Fiber is now one of three choices present for me to have gigabit download speeds for cheaper than getting 50mbs down was 5 years ago.  Everything in my area now more efficiently runs the Google-driven ecosytem that runs many aspects of my life.  
    So returning to the above.  Ripple creates xCurrent and makes banks very aware of it, but it's largely FI's and more fringe banks that don't have massive systems just living and dependent upon tremendous legacy systems that can enact this technology first.  This will allow these companies to compete with the larger more established institutions on price - ultimately - because the future end result of xCurrent + xRapid will allow these fringe entities to be more efficient and enjoy better margins while providing faster service.  The banks must respond and we are seeing that already.
    In response, Swift creates GPI which - as it turns out - can interface with Corda which uses XRP as its native settlement mechanism. 
    This is what I have observed and it's entirely consistent - as best I can tell - with the former employee's explanation.  I am certainly over-simplifying a number of things here.
  12. Like
    xrpmeplease reacted to Chris_Reeves in Does this aggravate anyone else?   
    I'm of the opinion that the consistent release of XRP from escrow has a downward pressure on the price as the legal obligations to hold the purchased XRP have an expiration date and then institutions can begin selling in open market. Though, that's only one side of this argument. You could also make the argument that the escrowed XRP provides a sharp supply/demand impact when demand begins to outpace the current supply through speculation or cross-border remittance usage. Either way, I don't disagree with the premise of the article, it only points out one side of the argument.
  13. Thanks
    xrpmeplease reacted to Dutch_ins in European Central Bank integrates RippleNet on 22-11-2021   
    The ECB (European Central Bank) released an annual report on Target2, the RTGS system for all European banks where they settle all payments in central bank money. The ECB published it about two hours ago and it can be found here: https://t.co/GLJNtzrR19
    The timeline for banks with all the milestones can be found here; https://t.co/tBB9WoDswF
    The big bang approach requires that all national central banks and their communities are prepared to migrate on time.
    All banks in Europe, will all be, at the same time, able to use XRP for domestic and international settlement of payments and securities within Europe, but also across other RTGS systems like Japan’s or the Federal Reserve’s.
    It means also the migration of TARGET2 (payments) with TS2 (securities) and TIPS (instant settlement) into one gateway for al European banks.
    All banks have to be signed with a contract to their selected Network Service Provider of choice BEFORE July 2020.
    RippleNet with it’s xCurrent (4.0) is one of those NSP’s.
    EDIT: 28/5/2019 -  Ripple is NOT a NSP, since they have not participated in the tender, however RippleNet could probably be accessed though the two chosen NSP's.
    The new European RTGS system with integration to multiple NSP’s (like RippleNet for instance, currently Swift is the ONLY integrated NSP) will go live, with a “big bang migration” (as they like to call it themselves) in the whole of the EU on November 22, 2021.
    EDIT: 28/05/2019 - XRP usage "official"?
    The ECB paper Brad Garlinghouse referred to in his tweet: https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op223~3ce14e986c.en.pdf%3Ff2e9a2596a8f9c38c95f4735c05a0d47&ved=2ahUKEwjCsKP-gL7iAhXEalAKHZQFAskQFjAAegQIAhAB&usg=AOvVaw0myveAY0kP7vl4vj81wZJa
    Somewhere in there, you will find one specific sentence which, in my opinion says A LOT about whether banks under the ECB may use XRP for settlement or not. Dyor and decide for yourself.

  14. Like
    xrpmeplease reacted to JA8 in Who’s Shane Ellis and is his view viable?   
    I find it extremely weird and even slightly disturbing (a la Idiocracy) that anyone thinks this is how markets work. 
    These markets will likely need years of distribution, and several boom/bust cycles, to be able to sustain massively higher prices ($xxx++) without absurd selling pressure. It’s not something that can remotely be sustained with short term price spikes.
  15. Like
    xrpmeplease reacted to MarioFle in XRP: The Pressure-Cooker   
    You lost patience. We need to consider that the finance world has a very high resistance to disruption. The higher the friction the better for them. But they can not stop evolution. But evolution takes time .. 
  16. Like
    xrpmeplease reacted to Benchmark in Ripple keeps intentionally driving the price down?   
    Not Ripple, something else is keeping the price in this lovely channel.
    I suspect one or more early btc whales, given that they manipulate all of crypto to keep their position of power. Such is life.  
  17. Like
    xrpmeplease reacted to bryce in Thinking of selling XRP for BTC   
    Keep your eye on the prize, up 30% since August 2018, higher lows, I only worry about the bottoms, the rest is manipulation for now

  18. Like
    xrpmeplease got a reaction from Julian_Williams in Epic Pennant on BTC Chart   
    I think the BTC OG's still own large swaths of all the alts, and effectively control the exchanges, so it makes sense that it all moves in lockstep...its why the XRP institutional sales are so important for the decoupling to eventually happen, notwithstanding short-mid term impact on price...gonna take time, but if you believe in the IoV, XRP is the best long term bet imo.
  19. Like
    xrpmeplease got a reaction from GiddyUp in Epic Pennant on BTC Chart   
    I think the BTC OG's still own large swaths of all the alts, and effectively control the exchanges, so it makes sense that it all moves in lockstep...its why the XRP institutional sales are so important for the decoupling to eventually happen, notwithstanding short-mid term impact on price...gonna take time, but if you believe in the IoV, XRP is the best long term bet imo.
  20. Like
    xrpmeplease got a reaction from dr_ed in Epic Pennant on BTC Chart   
    I think the BTC OG's still own large swaths of all the alts, and effectively control the exchanges, so it makes sense that it all moves in lockstep...its why the XRP institutional sales are so important for the decoupling to eventually happen, notwithstanding short-mid term impact on price...gonna take time, but if you believe in the IoV, XRP is the best long term bet imo.
  21. Like
    xrpmeplease reacted to Tripple in xRapid usage   
    I'm not sure why the volumes are at all surprising when you consider the role that XRP intends to play in the internet of value. Until the entire network is fleshed out and much more wide-reaching then there's not going to be a huge role for XRP. 

    The way I see it:  If the cost of going through XRP is cheaper than using the multi-hop function (which I'd imagine it will be in many cases given that it's only one 'hop' with one associated fee, and there's no need to price-in counter-party risk) then we will see an increase in xRapid usage - but it will still require the participation of XRP market makers in those corridors. Currently, those participants appear to be local exchanges... That's fine, there just needs to be more of them in traditionally unserviced corridors.

    It'll get there as the network builds. The scale of what Ripple is trying to achieve is gargantuan and this type of transformation won't happen over night. They're only just implementing Multi-hop and integrated xRapid support now with version 4.0... So everyone needs to do a Dilip and 'cool the jets'. 
  22. Thanks
    xrpmeplease reacted to Roaring_Twenties in Ripple & XRP 101   
    So I feel like I’ve been showing up for class, paying attention and doing my homework for most of my assignments, and then there’s days like today that I feel like I must have been living under a rock for the last couple years.
    For most of you Tiffany Hayden and the posts on the XRP blog are all well known. For some others perhaps not. I don’t see her latest post on XRP Chat so I’d like to introduce her and her post here https://xrpcommunity.blog/ripple-xrp-101/
    For those on XRP Chat that may be suffering from a little FUD please take a read and see if her info helps. For people like me... I see brains and beauty. What a wonderful combination!
    Her Latest Fan Club Member 
  23. Like
    xrpmeplease reacted to spiras in Q1 2019 XRP Markets Report   
    Unfortunately, it's a necessary evil.  It has to be distributed.  I think everyone recognizes this.
    We are all early in this space.   This is just something we have to go through.  I think that as time goes by, the escrow releases and sales will represent a smaller and smaller percentage of circulating supply.  Then when all 1B is being sold each month, that's when we will start to see significant price increase. 
    My opinion.
    I have said for a long time that the price is held in check due to the distribution of XRP.  If you remember, when we had the bull run in December 2017, it was right after Ripple locked up the escrow, and didn't have any they were willing or able to sell.  You can go back and look at the XRPII sales during that time and is is in line with that.  I posted the numbers a few months back.  Remember: Price spiked between December 12, 2017 and Jan 3, 2018. (.25 to 3.80)  The first escrow was unlocked Jan 1.  The price started to decline 2 days later. 
    Is this a coincidence?  I don't think so.
    Do I think Ripple is doing anything wrong or illegal?  Absolutely not.  In the big picture, this all has to happen.  It just is what it is.  We have to be patient and wait.  It's all part of the bigger plan. 
    Over time, expect to make slow gains despite this.  
    This is all my opinion and I could be wrong.  But this is how I see it.
    3-5 years.
  24. Like
    xrpmeplease reacted to T800 in Mark Phillips Believes XRP Was Designed To Be $10,000/XRP   
    I think XRP Was Designed To Be $100/XRP
  25. Like
    xrpmeplease got a reaction from Coretex in Poker player wearing Ripple/XRP HODL hat!   
    Negraneau...sitting to the right, famous player
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