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Everything posted by Scout

  1. My exit strategy is no secret, it would be to eventually reclaim my original investment and let the rest ride, much better in my XRP wallet than rotting in a bank. I want to see XRP succeed because I truly believe in the technology and I'm so tired of having to send wire transfers through Western Union getting gouged on the transaction fees as my wife has family back home in the Philippines. What I have noticed recently is a lot of remittance companies are gradually lowering their fee's which is a good sign. I figure it must be to stay relevant for what's about to come. But it's articles like this that annoy me: https://www.aciworldwide.com/news-and-events/press-releases/2018/december/aci-worldwide-propels-national-bank-of-kuwait-to-become-first-bank-in-country-to-implement-swift-gpi If XRP is intended for fast remittances then why would a bank that has already adopted Ripple tech find the need to also adopt their competitor's solutions. It's these mixed signals that get on my nerves. I just wish things were more clear cut.
  2. You guys are right, i just let the FUD get the best of me this morning. Sometimes it just seems grim, but there is light at the end of the tunnel. My apologies.
  3. Let me clear this up, there appears to still be some confusion. BANKS”.. Crypto curency idea is to get away from it, not to work for it.” Proof of this statement can be shown by The National Bank of Kuwait promoting its new Ripple-powered remittance service. The platform, called NBK Direct Remit, is now live. It uses Ripple’s xCurrent to process instant cross-border payments from Kuwait to Jordan. There is very little incentive for Banks to use XRapid's Cryptocurrency Tokens to move money around when XCurrent can achieve the same results without XRP. Plus banks don't seem to mind having Nostro/Vostro accounts as they are already comfortable with that system.
  4. Steadily growing because of Bitcoin's activity. XRP still can't stand on its own two feet yet. I know it's just a matter of time, it's just frustrating to see all this good press take time to reveal itself.
  5. There isn't one company driving BTC. It is being driven by China. BTC is doing well for two reasons, one being the first decentralized crypto and secondly having a tiny total supply allowing it to gain value faster upon adoption. But essentially, it is an inefficient crypto soon to be a museum piece.
  6. But what does matter is if Ripple isn't driving XRP's utility we can expect the price point to remain where it is. The price we are witnessing is not from use cases and volume but of holders and traders.
  7. Well I'm pretty sure if the SEC stated something that wasn't in line with the law they would get into trouble and apparently this has happened before.
  8. The whole world does rely on the US for the classification and clarity because Ripple is headquartered in the US. Plus the SEC has an extremely long reach and have shut down businesses outside of the US. As much as you don't like to admit it, they have a big influence. Just like Ripple has a big influence on the success of driving XRP to mass adoption.
  9. It is true, the SEC helps govern the law. If the SEC commits to something that is contrary to the law they get in trouble. Hence why they refuse to comment.
  10. I thought I'd share why I believe XRP is in limbo. The SEC does not comment on the status of whether XRP should be offered as security or currency as it would be in direct conflict with the current class action lawsuit against Ripple for offering XRP without a security classification in 2013. Here is a great article shedding light on the reasons behind the lawsuit: https://www.theblockcrypto.com/2018/12/06/do-ripple-executives-statements-imply-that-xrp-is-a-security/ Once the lawsuit clears, the SEC might be more inclined to come forward and comment on XRP. Until then, they remain silent. The price of XRP at the moment is solely based on two factors: speculation and the value of Bitcoin. While XRP has the potential to have utility, Banks will not adopt or use this utility until the lawsuit is cleared. The resolution of the lawsuit will help provide the regulatory certainty they are looking for. So we wait on the US Federal courts decision. As XRP was once sold & treated like a security it now functions as a utility currency. It is for this reason the ruling isn't straight forward. However, the date the lawsuit was filed was in May of 2018 and unless they are suing based on purchases back in 2013 I can't see this lawsuit having any merit. In which case Ripple should be triumphant. Worst case, Ripple was caught selling XRP as an unregistered security, they pay the fine and move forward as a currency/utility and should not be governed by the SEC.
  11. What I am planing on doing is transferring my XRP to either Kraken or BitStamp Exchanges. Selling XRP for USD, then performing a Bank Wire Transfer from Exchange USD to USD Bank Account. They seem to have reasonable withdrawal fees, unlike their Canadian counter parts. But I won't be selling this year, I bought in January 2018 and the investment should sit for at least a year to minimize the tax paid on the earnings. Plus I'm in no hurry to exit but I'm willing to play a long game which probably will work out better in the long run.
  12. The video depicts how current banks and SWIFT deliver money, slow and painful. Why use a person to send money when you can use the speed of light (XRP).
  13. I've signed up, seems pretty slick but based in Euro's. Hopefully they support bank wire transfer withdrawal's to Canadian Banks.
  14. WSJ: Bots Enable Pump-and-Dump Schemes https://www.ccn.com/bitcoin-price-manipulated-by-cryptocurrency-trading-bots-wsj/ This practice of faking orders and then canceling them is known as “spoofing,” the purpose of which is to create the impression that supply or demand for an asset is higher than it actually is.
  15. Guys, I just came across this article tonight. This worries me as my XRP tokens live on the Binance Exchange. I'm concerned about this as I have significantly invested in both XRP and TRON. See the link below: https://bitcoinexchangeguide.com/major-crypto-exchanges-kraken-bitmex-and-binance-facing-shutdown-according-to-new-report/ My question to the community is what wallet can I use to store both XRP and TRX safely without having to worry about some US based SEC attempting to ruin my life by shutting down the Exchange i use? ( I am Canadian btw) Or is this article just more FUD that has no bearing on my invested digital assets at this exchange? Thanks in advance.
  16. I agree with the article. Bitcoin is anti KYC and AML. With no real use application it will be shut down. Too bad the person in the article didn't properly distinguish between Ripple and XRP. However I knew how to fill in the blanks. Ripple has done a lot right from the start working with government bodies and regulators. With the utility and regulation it brings it will stabilize the value of the asset and become the defacto digital asset dethroning BTC and its variants. I feel bad for those who don't short Bitcoin.
  17. XRP hikes by 11% in just an hour on the back of xRapid hype; 20 million XRP sent on the ledger The coin is moving against the movement seen by the rest of the market and seems to be a “decoupling”, Buckle up! The XRP engine seems to have fired up !
  18. Which would conservatively place us at $135 in 2021 / XRP...
  19. https://dailyhodl.com/2018/09/10/royal-bank-of-canada-says-ripple-and-xrp-can-save-financial-institutions-46-per-payment/ I thought X-Rapid was more cost effective than using other Ripple software solutions (X-Current). Which was the incentive for Banks to switch to X-Rapid for further cost saving measures. However, according to this article it states: "The June report also states that Ripple, with or without XRP, can save banks an average of 46% per payment."
  20. https://ambcrypto.com/ripple-xrapid-moving-to-production-later-this-year-says-cory-johnson-exchange-partnerships/ According to Cory Johnson’s statements, the xRapid product will be moving to production “later this year” as opposed to its current testing phase. David Schwartz, the CTO of Ripple also spoke about the move, stating: “And, in case you didn’t know, xVia can initiate a payment that uses xRapid to settle with XRP.” “xVia is for payment initiation, like a browser for the internet of value. xRapid converts currencies on demand through XRP liquidity. That pipeline can settle payments initiated elsewhere.” Hang toit! Sorry, I just realized that someone else had beat me to it. I posted this because I thought I was the first but there's a similar conversation already here:
  21. This is more along the same lines. https://dailyhodl.com/2018/08/15/ripple-on-china-and-xrp-targeting-1-3-billion-people-for-cross-border-payments/ It's interesting, Ripple's software appears to perform well without the need of XRP. Perhaps this is where Cobalt and Codius can come into play? I have a feeling Ripple will ironically be a late adopter to XRP for use in XRapid likely because Countries & Banks are skeptical about using cryptocurrency for Fin-tech. Once regulation has a grasp on the technology, everything should fall into place and trusts can be established to move this utility into production. For now, here's hoping that Codius can kick start things sooner than waiting on Banks to make their first move.
  22. I believe 95 percent what Bill Harris said except for his opinion on people won't use XRP. I too believe Bitcoin is a dying technology. Like the Napster of music download clients. However, the overall angle I got from the video was he was a firm believer that an alternate Fin-Tech Crypto will be very successful in doing what Bitcoin can't. Hello!!! To me that spells XRP! This video IMO was totally supporting "The Internet of Value" XRP and the future direction of crypto. Bill Harris I salute you - I HODL XRP !
  23. Just for the record when XRP goes down I see it as an excellent opportunity to stock up. I'm invested in XRP because I believe in the technology, the direction it is heading and the people who are running the show. I would never sign up for that lawsuit because that would be two faced and not faithful to the product or the company I support or believe in.
  24. "Rosen Law Firm, a global investor-rights law firm, in its recent release, has said that it is investigating whether Ripple Labs, Inc. violated federal securities laws in connection with the sale of Ripple’s XRP tokens, also known as “Ripples.” https://coingape.com/ripple-xrp-again-legal-trouble/ The firm has also asked investors who have purchased Ripple’s XRP tokens to visit the firm’s website and join the class action. Join Rosen lawsuit This doesn't sound like it will end well. But the truth will set you free!
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