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Rey

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Everything posted by Rey

  1. Change often starts with an idea. Someone thinking "Wouldn't it be great if ...", someone who thinks that change is actually possible.
  2. Owwww ... that's so sweet. How nice to do such a thing. And it's really awesome that from the gazillion ways to do so you elected specifically this niche. Thank you and good luck!
  3. You were that early, yet you don't like cartoons? What about magic cards?
  4. One could think of others with an interest at stake and the same goes for some other motives ...
  5. https://www.investopedia.com/terms/n/nostroaccount.asp
  6. True, so maybe it's a good idea to keep that in mind when reading dubious or even false and malicious information online ... it's not only BTC maximalists who might have interests spreading FUD ...
  7. Let's break down the terms "nostro account" and "vostro account". A nostro account and a vostro account actually refer to the same entity but from a different perspective. For example, Bank X has an account with Bank Y in Bank Y's home currency. To Bank X, that is a nostro, meaning "our account on your books," while to Bank Y, it is a vostro, meaning "your account on our books." So for the above reason the claim just states the obvious, though doesn't add anything to the debate regarding the need for pre-funded bank accounts. The argument wrt to the exposure of banks to FX risk has been countered very convincingly by Brad onstage with the SWIFT CEO. While it is still true for now that the volatility of XRP is larger than the volatility of many FIAT currencies, the period of TIME of exposure is significantly smaller. While a SWIFT transaction can take several days, a transaction on the XRPL takes just a few seconds and even an xRapid transaction takes less than a few minutes. So from a mathematical perspective this claim is also moot.
  8. If that's true and the math is correct, maybe your payment infra already is fairly efficient ... did the business case include the costs of settlement? I ask because xCurrent in 2015 as well as SWIFT before and after GPI don't change anything about the Nostro issue ... And maybe the majority of your xBorder payments involve efficient, low friction, high liquid corridors?
  9. Do you think that those 40c are the total costs of the Xborder payment? Here's the average break down of Xborder payments in general ...
  10. Good question. The issue at hand is Ripple stating an amount of $5T that can be released, while Mrs. Coppola states that that amount is just a flow. First, tbh I haven't seen the number $5T mentioned explicitly in the McKinsey report, even though that number hasn't been debated itself. Second, if $5T would be flowing continuously, one could argue that it's actually locked ... so we'd need to know the volume that flows per time period. I don't know enough about Mrs. Coppola in order to be able to say anything about her motives and objectives ...
  11. Hey @automatic Sorry ... nope ... according to a McKinsey report from 2016 the average costs of Nostro liquidity (period 2013-2015) are 34% per international payments transaction See Exhibit 9 (page 21): https://www.mckinsey.com/~/media/McKinsey/Industries/Financial Services/Our Insights/A mixed 2015 for the global payments industry/Global-Payments-2016.ashx Though I concur with you that there are many other arguments pro the Ripple solution
  12. Hey Tiny, According to Ripple itself (see: https://ripple.com/insights/liquidity-explained/) the source is a 2016 McKinsey report: "According to a 2016 McKinsey Global Payments report, there is approximately $5 trillion dollars sitting dormant in these accounts around the world – tying up capital that could be used in more productive ways." Link to the report: https://www.mckinsey.com/~/media/McKinsey/Industries/Financial Services/Our Insights/A mixed 2015 for the global payments industry/Global-Payments-2016.ashx HTH
  13. Rey

    Clean up the forum

    Thanks @Tinyaccount Agreed.
  14. Thanks @Ripple-Stiltskin Agreed. And this is the third time within a week that this member starts a new thread mentioning content from the same source. Last Thursday: "Ripple’s “200+ Institutional Clients” Claim Is A Scam" Last Friday: "Ripple’s Lie About Its Santander Partnership" I have nothing against a healthy critical discussion, but this is just trolling and IMHO harms our forum.
  15. Maybe you're right, though remember that the current CEO also has the role to defend the interests of the main/biggest SWIFT stakeholders ... e.g. maybe he just "has to" buy time ...
  16. @Pablo @King34Maine Good point and well written! Considering the amount of change DLT brings and the fact that it touches the very core of the FI's business processes, you're right that it implies a lot of work and Ripple as well as their customers could use help from parties that are familiar with the industry. A Ripple product implementation probably isn't just the installation of some software ... apart from ICT and business process redesign consult, training, pre and after sales, their customers would also need to consider impact on reconciliation, auditing, legal issues and many other things ... Ripple could work on some implementation white books together with channel partners ... So yes, I'd say it sounds like a good idea ... big ICT firms as well as accounting/consulting firms would be suited for the job ...
  17. Don't do as they say, do as they do ... apparently they need to buy even more time to build up their position and work on their infra ...
  18. Even if SWIFT won't use XRP and even if R3 members/Corda users would get an extra option, i.e. to settle their Corda based trade via the old fashioned slow and expensive nostro/vostro way (an option that they already have outside of Corda), that still wouldn't be bad for XRP as it would give aspiring R3 members/Corda users an upgrade path ... a paradigm shift doesn't occur in a month or two ... In the end people will use what they like best ... very difficult to beat fast, cheap & reliable ... usually it's pick two ... or even less
  19. Maybe it can function as a hedge against XRP or other digital assets, admittedly other DA's could also get this function. I mean, right now we all complain about price manipulation, but as XRP gains more traction and becomes more important, price stabilization instruments might be needed ...
  20. Maybe I'll do a lousy job, but let's try to be a devil's advocate: - First movers advantage; - BTC already has a certain value, being expensive might be a pro instead of a con; - Same goes for its lack of speed, a store of value might need a certain balance of (il)liquidity; - Many whales already have a position and there's already a lot of money invested in the market infrastructure (these things might be a bit less agile than we'd want).
  21. Hey @BigFish You're not alone. Others bought near ATH early January 2018. You're right, this bear market really sucks and it lasts longer than most of us would have thought, at least much longer than I ever would have thought. Of course I don't know how much longer it will last, but I hope that in a few years time we will be glad that we didn't sell at the current price level. Guess no one knows how the crypto market will develop, however I think that last year many organizations, FI's and enterprises invested in the crypto infrastructure. These things take time, a lot of time ... there's one thing though that those developments indicate: crypto is NOT DED. Take care!
  22. Well, if you really don't believe in the fundamentals of the asset you invested in, I'm happy for you that you didn't invest more than you said you actually did. And I hope that you'll be positively surprised by XRP some time in the next few years.
  23. Hey @Valhalla_Guy ... what happened? Did you buy near ATH?
  24. We're still very, very early in the game. Most investment money goes to building the required infrastructure for future utility, not to buying DA's yet. Also, remember that some of us investors put a lot of time in researching the crypto market, that doesn't mean that the rest of the world do so.
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