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About ObeyTheWafflehouse

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  1. Of course they won't control the personal information, they will only sell it.
  2. MMs don't care necessarily about the price of XRP because they are trading XRP to fiat back and forth. The greater profits for them are charging the "fee" (ask/bid price) because that is where their biggest profits lie. They are not investment firms. Higher prices of XRP are an after thought in their minds.
  3. 9:27-10:00 How the flow works from beginning to end. Obviously in this example from Coinbase (which is a new example) to Bitso a net flow of XRP would be to Bitso. Bitso has more XRP than Coinbase. 10:28 Ripple is strategically partnering with MM through contracts that acts as an incentive to bring more MMs AKA deeper liquidity. 11:00 New market participants or MMs are realizing there is a real arbitrage opportunity (assuming the unbalanced flow of XRP from Coinbase to Bitso). 11:15 Ripple doesn't have to incentivize MMs or pay MMs to make the market. An increase of volume through the corridor provides enough opportunity for profit (again assuming from the unbalanced flow of XRP). To answer your concern, yes, xRapid by itself may not put upward pressure on XRP's price because there is not enough volume. The arbitragers and MMs are taking the profits from the unbalanced flows of XRP. However, bobway stated "If you ask a speculator what will drive up the market price, they'll often tell you, "More people who want to buy and hold XRP long term." It is because increasing buying volume without increasing selling volume exhausted the lowest price offers first, then must take higher and higher offers to satisfy demand. But market makers don't seem like long term HODLers to most speculators. This is because XRP market makers are constantly buying and selling XRP at the same time. So what could seem less HODL than having continuous sequence of SELL order in the market at all time? But it turns out that only half understands the situation. In order to place a SELL order in the market, you must first be HODLing the XRP you're wanting to sell. And if you want to keep sell orders in the market continuously, forever, you must also be HODLing XRP continually, forever. So market makers continuously BUY back whatever XRP they sell, as soon as possible. This gives them the XRP inventory they need to sell again on the next payment. So you can visualize an XRP/USD market maker who deploys half of their capital in XRP and the other half in USD. Then they work to continually keep that value balance equal. Of course they also work to keep their total investment continually growing as well. A MM's investment growth comes from "transaction fees" paid by the senders of a payment that ripples through XRP as a bridge. It really isn't an explicit "fee". It is the difference between the market spread prices (highest bid vs lowest offer). In effect, a MM is always selling XRP for a price slightly higher than the price they buy the XRP back for. When doing this, the MM's profit scales with payment volume rather than with XRP price change. So if a MM is profitable trading against back and forth payments on a given corridor (XRP/USD) they want to keep trading that corridor, forever. And to do that, then need to keep HODLing XRP forever. So how can you increase the price of XRP? Well, of course, attract more market makers to the corridor and system. They can't trade a corridor until AFTER they purchase their stake of XRP. And once they have purchased that XRP and are profitably making the market, they are in effect long term HODLers. Note, a MM's profit does not scale with their investment. It scales with increasing payment volume through their investment. So doubling payment volume can support twice as many MM at the same ROI. Of course this requires cumulatively doubling the MM's XRP stake as well. All utility comes for satisfying the NEED of someone to send a payment. It is this NEED that encourages them to pay slightly higher fees (Market Order) than those who merely WANT to make a payment but have more time to wait (Limit Order). But of course the whole strategy is worthless, if the XRP bridge currency path costs more end-to-end than alternative pathways. If we presume payment routing algorithms always take the lowest cost path (for Alice), then end-to-end cost becomes the switch that determines if the direct fiat/fiat market makers turn a profit, or if the fiat/XRP bridge market makers turn a profit." Hopefully this helps!
  4. This is the service they are announcing in your OP. Prior they announced partnership with visa direct which is, "a real-time payments network for business and person-to-person (P2P) payments, is helping financial institutions and technology companies allow their customers to transfer funds to a debit account in 30 minutes or less." and the debit card service "works with Visa’s real-time payments platform." So essentially a debt card system using the payments platform. This is good news overall.
  5. Why do you say potentially October? Was it from this quote, "Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October." If so, that article was published in 2018. If not, disregard my post for not understanding. However, it is very ironic that MG and Visa launch a partnership that "Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October (2018)", since Ripple's first corridors were open in Mexico and Philippines. This information implies Ripple may be making a formal announcements a year after these events take place.
  6. I am going to stealing this information that I posted on an older thread. Visa and MG partnership is nothing new as they have had business agreements in the past. What's more interesting is what I have in bold. "MoneyGram, Visa team up on cross-border. While KeyCorp focuses on businesses, MoneyGram and Visa are eyeing P2P. The companies recently announced a collaborative solution to provide real-time digital disbursements for MoneyGram customers. Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October. Funds sent via Visa Direct rails can be used instantly with a recipients’ bank-issued Visa debit card or Visa-branded prepaid card. Recipients can also opt to receive the money in cash at an agent-staffed location, where they would have the option to load the funds onto a Visa-branded prepaid card or send them to a linked bank account in real time. Visa’s senior vice president and head of North American push payments, Cecilia Frew, told PYMNTS’ Karen Webster in a recent interview that the service is a new kind of offering for the company. “MoneyGram is the first cross-border use case for Visa Direct,” Frew said. " Dated September 2018 https://www.pymnts.com/faster-payments-tracker-september-2018 "PayPal and Venmo will leverage the Visa Direct network to enable real time funds transfers, as well – a capability that was first announced on July 21 when details of the Visa/PayPal partnership were disclosed." "Frew also sees a growing interest in the use of Visa Direct in support of shared economy platforms such as Uber, Lyft, Airbnb, and Task Rabbit, who today use ACH payments to disburse funds to their contractors. " Dated August 3, 2016 https://www.pymnts.com/news/payment-methods/2016/visa-direct-expands-real-time-payments/
  7. Let me get this straight. Every time someone creates a new account the reserve is 20 XRP, but when that account wants to setup an offer, trust line, payment channels, etc., an additional 5 XRP is needed in the reserve for a total of 25 XRP? Let's say you want to setup a payment channel and trust line, do you need 30 XRP for two different objects? Edit: "Without the MultiSignReserve amendment, a single SignerList counts as 3 to 10 objects for purposes of the owner reserve, depending on how many members it has. With the MultiSignReserve amendment enabled, a single SignerList counts as 1 object for purposes of the owner reserve, regardless of the number of members it has. See also: SignerLists and Reserves." Next page "With the MultiSignReserve amendment enabled, the SignerList counts as one object, regardless of how many members it has. As a result, the owner reserve associated with a SignerList is 5 XRP, regardless of how many members it has"
  8. I think everyone is thinking in the short term. There is no need to use XRP right now. If you are redesigning a legacy system that is going to be used by later generations, you have to be a little more forward thinking than what is present at face value. Scenario in the future - I tokenize my house, but I want to leverage the equity for home improvements or a personal loan. How am I going to trade that token to represent real USD? Or maybe I don't like USD and I want Euros or Yen. We know tokenization is real and there is a big push for that right now. Yes, XRP is not being used right now, but the USD/fiat has limitations as to what it can do now AND in the future. I believe everything is going to be tokenized or digitalized in the future. The real question is, "how is that value going to be transferred in the future?"
  9. Follow up: Her opening statement to European Parliament Committee on Economic and Monetary Affairs. https://www.europarl.europa.eu/cmsdata/186544/Opening Statement by Christine Lagarde to the ECON Committee-original.pdf "central banks and supervisors need to ensure the safety of the financial sector, but also to be open to the opportunities provided by change. In the case of new technologies–including digital currencies"
  10. https://cointelegraph.com/news/imf-chief-christine-lagarde-encourages-open-cryptocurrency-regulation/amp?__twitter_impression=true
  11. "Because these exchanges offer pools of XRP liquidity across the globe" "in a world experiencing an increasingly fragmented series of payments systems covering domestic and international traditional and non-traditional players and channels" Pools of liquidity? xPool? This must be the path finding mechanism Bob was talking about along with multi-hop. "when XRP is layered into the Interledger Protocol (ILP) XRP enables secure transfers between differing ledgers, and creates seamless integration across systems (think integration into domestic payment schemes for last mile payout)." It's interesting that they add the last bit. Is Ripple working on a side project that is focused on domestic payments? It would seem so. I initially think of FedNow.
  12. XRP may not be mentioned, but Ethereum does not settle within seconds. The connection is Commonwealth Bank of Australia (tied to Ripple and R3) + World Bank. From the original post, "Andrea referred to the potential of atomic settlement of having smart contracts settle a transaction. If the issues of digital currency can be resolved, if digital currencies can be made available by central banks, then the potential for the ownership of the security to transfer simultaneously with the transfer of the digital currency, we really could see settlements taking place in T+X, where X is measured in seconds." ETH does not have the potential of atomic settlement unless connected to ILP, but why not just use XRP especially when they mention Corda and R3? Also @JannaOneTrick stated , "I have very little information so far, so it's speculative" so it's really up in the air until more information is presented.
  13. That All-Star breakfast understands me every time!
  14. I think you have to look at it from Brad's perspective. Ripple is literally in uncharted territory. Building things that have never been built, questioning things that have never been questioned. I can imagine Brad's thoughts are as if he's always questioning himself if he's doing the right thing or if they going in the right direction, which I don't doubt his intelligence or decision's one bit. In a leadership role, he's the one who has to be strong and take a stance, so I think that's what happened with this tweets. Not only does he have to run a company under tremendous pressure, but he also has to defend the company he's trying to build up. I am very certain when he jumps on socially media and sees all the negativity surrounding Ripple and XRP's price, it gets very frustrating. I think everybody is frustrated with the markets and XRP's price even though Ripple is executing EVERY SINGLE DAY. It so easy to be negative especially given the crypto climate right now. We just need to keep the positivity and block the noise!
  15. "Carney suggests it may be best to switch to a new multipolar system." "Carney suggests research into a public sector global currency. He calls it a Synthetic Hegemonic Currency. " "The focus of it should be means as international payment. The unit of wealth and store of value can come later. A multipolar state sponsored version would be much more credible than a private sector digital currency. (Talking about libra). "
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