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Posts posted by Bettergoham

  1. 2 hours ago, EasterBunny said:

    I’m confused about the term ‘settlement assets’ on their earnings report. Surely they can’t have 3.3B+ trapped in the system? Anyone have an idea what this actually means?

    They have 3.3B+ trapped in the system.  Moneygram's business model is to prefund capital all around the world so their customers can quickly "send money" anywhere.  That prefunded capital is "settlement assets".  

  2. 2 hours ago, kanaas said:

    Hm... still not much lower settlement assets on their sheets. To my understanding thats the figure to watch for real progress with lower prefunding

    It will take a while but I can not wait for the day we see a significant reduction in settlement assets.  Who knows how much moneygram currently has prefunded for just this corridor on a daily basis.  10MM, 25MM, 50MM?  Once 100% of flows for just this one corridor are live on ODL how much of that capital can go to paying down their enormous debt or investing in marketing etc?  This is probably why Brad said they are chomping at the bit to open more corridors!

  3. 19 hours ago, Archbob said:

    I'm pretty sure they mean a stablecoin when they say CDC.

    Here is what I do not understand and it may be due to lack of research on my end, how will a central bank digital currency change anything at all from the current system?  What will a canadian stable coin and a singapore stable coin due to benefit the current system any more than the current electronic figures on a computer screen + exchange rates?  It's not like import/exporters are currently running around handing fiat currencies to each other to settle invoices, they all use exchange rates and move numbers around on a screen.  

    The only difference a "coin" will make is if it is a neutral asset that all governments can agree upon which is priced against individual currencies.  Imagine if gold could be moved instantaneously to settle up trade on a monthly/quarterly/annual basis.  Governments and businesses wouldn't need to worry about well how liquid is this fiat market, what's the current exchange rate of my currency to that currency, etc.  Instead they would exchange their fiat for gold which they would know would be accepted by the other government/business because it is universally priced and accepted due to their being a huge market.

    This is the role XRP should fill.  A universally priced asset that can exchange/bridge all fiats instantaneously, ubiquitously, and extremely cheap.

  4. 2 hours ago, XRP_Almighty_Q said:

    I thought of this, but then thought it could muddy the water for the average FOMO investor

    Yeah, this is your average retail investor hearing the words "settlement" and "liquidity" and assuming it is all a giant conspiracy theory tied to Ripple and a new monetary system.  It's those people who will be ****** off 60 days from now when XRP hasn't moved.  Ripple is attempting to rebuild the way money moves, this will not happen overnight and there is no switch waiting to be flipped so that XRP moons.  It will be a slow and steady process that will be proven through utility and additional profits for organizations.

  5. It's neither.  This is a domestic payment system that will have nothing to do with XRP, end of story.

    May it have something to do with xCurrent or one of the other 15 private sector submissions to the FPTF?  Yeah, it could.

    Could it facilitate XRP transactions 3 years from now as related to cross border payments?  Sure, it could be a payment option in the future just as TIPS and other RTGS systems will allow Fintechs to build on top of them.

  6. 21 minutes ago, Roaring_Twenties said:

    It'll be interesting to see the full, real description of what "level playing field" actually entails should they have it defined and prescribed

    This has been my exact question, what do they mean?  I believe the following:

    Level playing field on a domestic level entails large banks, small banks, and payments processors having the same ability to compete for business in the market place.

    Level playing field on a global level still seems to be related to competition between banks but also tied into politics.  On this write up https://www.bis.org/speeches/sp180130.htm, you can see Augustin talks about not only similar risk should be similar regulation but also the idea that in the face of crisis these banks should not have the ability to run to their respective governments and ask for a hand out.  If U.S. banks fail due to poor risk management the fed shouldn't simply be able to print up more dollars to prop them up.  If Chinese businesses fail and the banks in turn do then the government shouldn't be able to print more dollars to prop them hurting other economies.

    This is where the stretch and tin foil hat come into play, how do you do that?  Governments will always protect the large banks and businesses when given the power to do so or they would have a revolt on their hands from the people who are starving/broke.  Well maybe, just maybe if everyone shared a universal bridge asset of some sort where all eyes could see plain as day the value of different currencies then the different governments could not cheat one another.

  7. 5 minutes ago, Roaring_Twenties said:

    I know there are those here that will snap a this but all this takes time.

    David Schwartz said it best, time is all relative in this space.  If you were hoping to get rich overnight then you are in the deepest pits of despair right now.

    If you understand that Ripple is attempting to replace a cracked foundation that was put in place over 40 years ago, you probably understand we are still a bit early.

  8. 30 minutes ago, codiusrex said:

    The fact that any majority of people ok with @Ripple owning the majority of XRP is the latter’s golden ticket to keep selling the sh!t out of it and suppressing its price indefinitely. Oh the sheeples to slaughter. Is BG a cult leader or a CEO?

    What are you guys talking about? @Tyvole made the point "we all did the same research a ******* child could".  Let's all take a deep breath and be completely honest here Ripple got a one time pass to sell securities to the masses because they are attempting to change the way value is transferred around the world and should be rewarded significantly if they accomplish that. 

    If you are here holding XRP there are a few things you need to be ok with because it is the literal RISK portion of holding this and any other cryptocurrency:

    1. The cryptocurrency is labeled a security and the value goes to zero
    2. A majority holder(s) (Ripple) or any whale in any cryptocurrency decides to sell their tokens and move on driving price incredibly low
    3. The cryptocurrency fails to gain traction (utility), asset holders lose hope, sell in droves, and the price goes to zero
    4. The network/blockchain undergoes a massive attack permanently damaging the trust, investors are scared and sell driving the price to zero

    EVERY DIGITAL ASSET suffers from 1 or more of these risks at varying degrees, if they didn't there would be no upside return possible.  The fact that you all want to focus on one issue is asinine borderline trolling. 

  9. 16 minutes ago, Finesse said:

    Its really simple to me:

    3-4 second transaction time

    1000's of transactions a second capability


    no more pre funded nostro/vostro accounts

    Which makes it impossible to fail.

    Only thing that could fail would be a critical failure in the code which is impossible with over 48 million ledgers closed successfully. 

    I repeat again it will not fail. It wouldn't have made it out of a test phase from a publicly traded company if it could.

    Believe me, I absolutely believe this will pan out, but these are the basic rules of finance that have existed forever.  No Risk, No Reward.  It is that simple.  Government regulation could suddenly squash everything or something better could come along. Yes I invested with cold hard cash, that does not mean my "vision" or "belief" should ever be blind to all possibilities.

    The truth is this, if there was no chance to fail the market would have already valued XRP much higher than it is today.  You, I, and everyone else in this forum would have mortgaged everything we own and exchanged for XRP.  That is simply not the case.

  10. 45 minutes ago, AlejoMoreno said:

    If this partnership with MoneyGram fails then I might sell my XRP. Ripple will have a lot of explaining to do if they aren't able to deliver with the xRapid product on this deal.

     This is Ripple's time to shine. MoneyGram's success likely depends on Ripple being able to deliver on the promised cost-savings.

    If the xRapid experience and cost-savings that Ripple has been advertising is really magnificent in true then this partnership should be a home run, hands down. And based on the outline of the partnership, Ripple thinks they can do it in two years!

    This is something I and everyone else here must take into extreme consideration.  My other comment on this post meshes perfectly with your comment.  Within 1-2 years we should see Moneygrams transactions costs, SG&A costs, and "Settlement Assets" reduced by a huge figures.  Moneygram should essentially rise from the dead if XRP and Ripple hold up to what they have said the technology delivers.  This star will shine so bright no one should be able to deny it.

    This is the ultimate showcase and validation opportunity, if it doesn't pan out everyone will have to reconsider their investment.

  11. Moneygram is a PUBLIC entity.  This is literally the power move of the decade.  Every investor on wall street will know who Ripple/XRP is if they can turn Moneygram around.

    The ultimate test of the XRP Ledger started yesterday.  We will now be able to see the effects XRP can have on a company every single quarter when financials come out.

    As of Q1 Moneygram has 3.416 Billion dollars locked up as settlement assets.  Assuming full adoption over the next year that number should greatly decrease.

    Look at their expenses on their Q1 P&L, sg&a and transaction cost should decrease within a year.  

    We will have absolute proof if this system works or not and Ripple knows that.  They truly believe in the IoV and have set out to prove what XRP can do for a single company.  If it works can you even begin to imagine what everyone else in this sector will want to do?


    Moneygram has an operating income of 2.7% and Western Union 18.78%.  XRP can fix transaction fees for Moneygram, decrease cost for customers, in turn raising revenues.

    Western Union does about 4x more in revenues on a quarterly basis but they both have nearly identical amounts of "settlment assets" on their balance sheets.  Could you imagine if Moneygram can suddenly remove 500M, 1B, 1.5B of this off their settlement assets line and move it to cash?  Now they can increase marketing or improve any other aspect of their business.

  12. I have actually wondered about the process of filing for a no action letter.  Should it be Ripple who does something like that?  Ripple did not issue XRP, if Ripple went away the XRPL would continue, and no promises of return were ever provided with the purchase of XRP.

    That being said, could another company that utilizes XRP ask for a no action letter such as Coil or Kava Labs?  Could the community drop up ONE incredibly well thought request for no action and submit it since we all own XRP and utilize it for quick transfers?  

    If the SEC would only look to Ripple for a request for no action I feel like that defeats the purpose.

  13. Is anyone actually surprised by this?  I am incredibly confused by why anyone who is actually looking at crypto as an investment would be so excited about yesterday/todays runup in price.

    What has changed in the last two weeks that warrants this rise in price?  Absolutely nothing is the answer, this is purely FOMO.  The day the little yellow line on Galgitron's graph increases is the day I will actually get excited.  There is currently one use case for Cryptocurrency, payments for cross-border remittances.  This market will comeback down when people are paying $80 in miner's fees to move $500 in bitcoin and those transfers are taking 24+ hours. 

    This pump is a sham, if you believe in the vision of IoV and XRP's roll then nothing matters between now and utility.

  14. 18 hours ago, theGlitchKing said:

    I understand there are apps out there like western union, and venmo, but I didn't know if anyone had heard of any app being created leveraging XRapid, and allowing people to send money P2P internationally, and deposit in FIAT currencies?  Or even if something like this is in the works? 

    say if I had debit card account in the US, and wanted to send money to a friend in Japan, I could open this app, send them 1000 yen (I think it's yen?) from my US bank account, and have Xrapid do the heavy lifting to deposit in my friends Japanese account? 

    It's not here yet, however, I strongly believe this is where the world is headed.  I firmly believe that sometime in the near future you will be able to leave your home country of Japan with your moneytap app and travel to Spain.  You go to pay for a meal and someone at the restaurant will open their soon to exist PagoFX app.  You will see the requested payment in euro on their screen, you will see how much yen that totals on your screen, accept a confirmation, and payment will be sent with immediate conversion through XRP in the middle.


    This **** is the ******* future and I have no idea how people don't see it.

  15. This is literally the internet of value.  I firmly believe that one day whether it is Pago FX, moneytap, or any other app soon to be developed you will soon be able to travel the world with your cell phone and make payments to anyone in any currency instantly and cheaply.  

    I am so ******* excited by this announcement, we are so early to this party.

  16. My understanding of the lightening network is incredibly limited so this may be fud, but doesn't someone always need to keep Bitcoing "locked up" on the network to provide liquidity?

    If so isn't that basically correspondent banking or are they making some money some how?  Do they charge rent (interest) on the locked up Bitcoin or is there a spread they are making money on which would incentivize those people do to so as exchanges are with xrp.

  17. Hello Everyone,

    Posts are often made on this forum that reference the large entities who run the correspondent banking system and their resistance to change due to the money they would lose.

    I have spent some time thinking about this and was wondering if anyone has done estimates regarding the ROI for these banks or has figures available to potentially calculate a gain or loss.

    The correspondent banking system is a project that the entities involved have invested in with an expectation of return.  They "lockup/allocate" cash into nostro/Vostro accounts and provide a service of global transfers for a fee.

    The question that these banks will end up asking themselves is, can a greater return be expected if we forego this project and allocate the locked up cash to other investments.

    I think the image several posts on this forum paint is that Ripple and XRP will decimate the correspondent banking system and large banks don't want to lose business, while this is true in nature it opens other opportunities for these banks. The real question is which business do banks stand to earn more from?

  18. Does anyone know how to look at the ledger tps on those two days?  If the idea that this testing led to the massive spike in price we should see a huge spike in ledger tps.


    Sorry this is just total transactions, not tps


  19. Many of the people on this forum understand what I am going to type out but there are others who have no clue just how far we are from adoption and real "moon time".  Investing in XRP is  incredibly risky venture, this is a fact, you can not have insane return expectation without equally insane amount of risk. Do you buy a lotto ticket and complain you didn't win?  There are so many ways Ripple/R3/Coil/XRP can fail it isn't even a joke, Swift can suddenly find a way to compete and already have the network effects in place, banks can decide that XCurrent is good enough, several G20 countries could suddenly outlaw Crypto across the board, etc.

    The chances of failure are so great but without them none of us would still be expecting 50x - 100x returns.  So why are we here then and what time line are we looking at?  Ripple and others building the XRP ecosystem have had the same vision for  5-6 years now, build the internet of value and put a dent in the universe.  They want to do for the world's financial system what the internet did for information.  When the internet was created no one suddenly had the internet, the literal pipes and cables had to be laid, network service providers had to be built, and people had to be sold on the idea of the internet and it's capabilities.  The majority of that process took 10-15ish years.

    So where are we at?  Ripple and co. are still laying the pipes, XCurrent is simply getting banks and payment providers on the same network.  Once the network is big enough we can actually understand the maximum potential for this network and build upon that.  If you are on this forum you likely believe that the maximum potential is everyone on that network uses XRP to send remittances instantly and cheaply around the world.  That one day I can fly to japan, download their moneytap app, connect it to my bank account in the U.S. and instantly pay someone yen without even understand what's happening in the background.

    That is a long ******* time away but I see the potential.  I escrowed my XRP with an understanding that this **** is binary, fail or pass, nothing in between.  That is the risk, discount the money you expect XRP to return if successful anytime in the next 5 years, if it meets your return expectation awesome if it doesn't get out now.  Agree with me or not on how I should be looking at XRP as an investment, I took money I could afford to lose ran to the casino and put it on 00, if you got in this with an expectation that would were for sure making money you need to google "risk-return" right now.  Damordan, finance professor at NYU Stern, likes the Chinese symbol for risk because it is comprised of the symbols for danger and opportunity, whether that is the correct translation or not it is perfect for XRP.

    Edit: I chose 5 years because I got in this about a year and a half ago and Ripple escrowed their XRP until 2023.  I believe that basically means they understand that if this thing isn't showing major signs of success by then it just isn't going to happen.

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