Roborovskii

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Roborovskii last won the day on April 5

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  1. When XRP was created, the vision for Ripple's use-cases were clear, but the route to get there was still very vague (Jed had differing ideas & ILP was not yet envisioned). It was (and still is) normal for ICOs and the sale of tokens to form a revenue stream, although in Ripple's case they also had very good institutional funding. So it isn't really a matter of 'why' XRP can be sold/held by individuals, but just knowing that it always had been in Ripple's history. As of now, some utility in providing liquidity and token acceptance can be viewed as the main reasons as to why XRP continues to be held by individual public hands. With payments use-case coming online soon™, XRP can and will probably be filling that role as a payment currency held by individuals. But for that to go full steam, there is a lot more work to be done in getting the masses to know of, and accept XRP as a recognized digital currency.
  2. @ObservantOne Tulo is correct here. Ripple connect alone is Swift's competitor (some functions and more). Ripple Consensus Ledger (RCL) has also been renamed to "XRP-Ledger" to further give focus on XRP as the native token within the ledger. If you look at the diagram, Ripple Connect bridges various private bank ledgers to RC-Cloud (possibly using ILP).
  3. Yep, i share the same opinion as you. That is why I found his current valuation of $10 too lofty.
  4. Luxembourg and Ripple go a long way back - https://ripple.com/insights/prime-minister-xavier-bettel-of-luxembourg-visits-ripple-labs/
  5. A $10 current valuation is too lofty. I do share his opinion that XRP is undervalued, but at the present moment, I think a valuation of parity is more realistic. This taking into account that SBI's eco-system is starting up end-July to August. And banks don't control XRP. BTW @xourexe thanks for sharing!
  6. XRP and other digital currencies form a whole new asset class. So new in fact that most FI's do not yet have substantial holdings in their portfolios. This is one thing that is fueling speculation for XRP - the vacuum that may drive future demand. A bank or financial institution may not want to hold more of the same. With so much value stuck in the system (especially in derivatives), FIs are dying to diversify. If they have not yet diversified into fiat today, they would also not want more fiat in the future. Fiat is inflationary and unlimited, XRP is intrinsically deflationary and limited in quantity... with a whole lot of room to grow. I speculate that the future with IoV will be dominated by 2 types of currencies. Fiat issued by countries, and digital currencies whose values are pegged to their use-cases; all of which flow seamlessly in the new financial eco-system. As such, the idea of a one world currency will become obsolete and unnecessary (bad and unworkable idea in the first place).
  7. Pegging of value would require a purpose. I don't think that purpose would be for stability, as Ripple is currently working on getting liquidity and volume in place (especially with payments use-case coming up). Once all the gears get in motion, the issue of stability should be reduced. @tomxcs has put that very nicely. In fiat, pegging is usually a strategic tool to guarantee price stability of goods and services between 2 countries. Fiat & digital currencies are not equivalent; one being liquidity for a country and the other a digital asset for global use-cases. It is therefore very unlikely to have any purpose to peg a fiat (e.g. USD) to XRP. More likely, if by any possible case, perhaps a competing digital token to XRP could be pegged either naturally by market forces, or politically between Ripple and a future competitor.
  8. Looks like a normal chart to me. If one were to call price fixing, it would look more like the XRP chart before March 2017... but even then, I doubt there was any. Massive gains come with massive retracements.
  9. @Eddie @Streamliner You could just have a cold account on RCL and keep the secret key safe.
  10. *scratch head* how is this related to what you were asking? Let's break down your previous scenario: So let's say your US account has 100,000 USD & your German bank account has 90,000 EURO (100k USD worth). E.g. Mercury needs to pay each of his vendors 200 USD every week. If he sends money to each of them (e.g. 10 vendors), he would incur a total remittance cost of 20 USD per transaction per week. 20 x 10 x 4 weeks = 800 dollars in remittance cost per month. This is for 200x10x4 = 8000 dollars worth of payments. Therefore 10% cost to remit. Because you have loads of cash from selling jewelry, and you dig reading all the adult books Mercury sends to you, you agree to help him with his business payments, but not at a loss. His monthly requirement of payments to his vendors is 8000 USD worth (in Euros - 7200 EUR). You have enough funds (90,000 / 7200 = 12.5) to last a year. But you decide it is better to rebalance your funds every quarter (3 months) to prevent cash flow issues for your own business. Each time you rebalance, you have to send back to your US account 7200 EUR x 3 = 21,000 EUR which converts to USD and incurs a remittance charge of 20 USD (I am simplifying this, in reality the cost is higher plus other exchange fees) You take into account the cost of rebalancing your funds between the US and Germany accounts and come up with a spread you will charge Mercury. E.g. 0.88 instead of market-rate of 0.9. You calculate this will give you a profit. And you make it so. This is explained above. And to address your last question (which is irrelevant to market-making) - each time you rebalance your funds, you send back money to the US.
  11. If it's an unbalanced uni-directional flow, then likely the spread will be larger to compensate for the cost of rebalancing the funds periodically. Unless another jewelry store (what business has a jewelry store to do this actually?) is able to get a better rebalance exchange rate than you, and compete with you for this corridor.
  12. You need to find a German adult book store who has a ton of US vendors.
  13. I think Polo is losing it's share for all other cryptos too, not just XRP. There's a lot of Polo unhappiness going around.
  14. Bank's won't be handling XRP. The market-makers would deposit $20 into the bank in exchange for 20USD.TiffBank. With this issuance by TiffBank, they can now fill out the orderbook - e.g. USD.TiffBank : EUR.TuloBank.... this assuming that this market maker also has an account at TuloBank. So the bank ends up having more cash on-hand rather than less, but with requirements to fulfill the issuances (IOUs). Again back to another native ledger. This time you mention BTC. Since orderbooks cannot exist on ILP, open-market forces would still have to take place on ledgers. And which ledger has been created just for that very purpose by the same team that invented ILP? RCL of course.