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iLeeT

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iLeeT last won the day on December 11 2017

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  1. I think that's the main problem with xRapid at the moment, to me at least. The current setup where you involve two crypto exchanges to send money x-border is way too simple and won't/can't scale in my eyes. Yes, XRPL is decentralized and you can quickly send XRP from point A to point B, but with the current setup you still trust two exchanges. What's even worse is these are essentially crypto exchanges - also, because at the moment it makes more sense to target exotic corridors these are essentially smaller exchanges. They lack volume, personnel and security (mostly due to lack of personnel) - in the past 1-2 years there were a lot of crypto exchanges that got hacked, a lot of exchanges did an exit scam. So let's say you sign 10-15 banks to use xRapid to send money in the USD -> MXN direction. What happens if Bitso gets hacked or does an exit scam? Your whole corridor becomes virtually dead. Not to mention that currently you'd have to park at least some amount of money on both crypto exchanges so that you don't wait for a bank transfer for example from your local bank acc to Bitstamp as this can take a long time. And what happens when you try to scale this, when you want to include more exotic fiat pairs - there aren't any crypto exchanges that are dealing with fiat or if there are, the volume is less than what I trade at Binance.. e.g. how do you send money to an African country using xRapid? You wait for a shady crypto exchange to open up? Ha. I think the money from Xpring should've gone to resurrecting XRPL DEX which is pretty much dead at this point instead of investing in some dumbаss Ethereum projects or some bitcoin ATMs. The second option would've been probably for Ripple themselves (via a 3rd party most likely) to start opening up legit exchanges in exotic countries, but I don't think there are any signs for that. Or maybe a global pool of liquidity (xPool?).
  2. I think Ripple doing an IPO would be very, very bad news for XRP - one could argue that in a matured market this could be seen as a good thing, but crypto is far from a market that makes sense. I would imagine *a lot* of holders and speculators will be selling XRP in order to buy Ripple stocks. I can also picture the FUD that will immediately start - 'now that Ripple is super well funded and stopped sales of XRP would they even bother trying to increase the value of XRP'. Imo, as soon as Ripple announces an IPO the price of XRP will tank a lot, probably more than 20% in 24h, I don't think Ripple will do this. Also, going public they'll need to obey a lot of rules etc. and constantly trying to please investors. Currently, the crypto is a bit of a grey area and they can still sell on the market and OTC without giving any explanations or promises - and they have the supply to do this for the next 10-20 years, can't imagine they'll give up on that.
  3. If they literally say 'Every entrepreneur will use the digital asset XRP and the XRP Ledger' and then about 90% of the projects have nothing to do with that, apart from Wietse's XRPL Labs project (which by the way got probably the least amount of money), then no matter how you slice it - it's misleading (and this is politely put). Can they simply change their investing strategy? Absolutely, it's their money/XRP. Was it communicated in the same way the initial Xpring initiative was announced? Absolutely not. Should we really care? Normally I wouldn't care at all if Brad wasn't arrogantly bragging all the time about 'transparency' etc. and then continually misleading with tweets, the latest one being Dharma. And no, most of the products sponsored can't be used with XRP. What Ripple are doing is pretty much VC - which is arguably alright, just annyoing that they are selling it to the community as if they are paving the way for XRPL.
  4. The rate of programmatic sales is/should be already lower since June according to Ripple ( https://www.ripple.com/insights/raising-the-bar-reporting-on-volume-and-sales-of-xrp/ - 'this means Ripple’s sales of XRP in Q2 2019 will be substantively lower (as a percentage of reported volume)') Wasn't using market cap for my percentages, was just using CMC (the website) to track the increase in the circulating supply and it seems pretty accurate - the BTC increase matches pretty much the 1800 per day from mining rewards whereas the 370M XRP looks pretty much correct when considering Ripple's OTC, programmatic sales and Xpring, it's probably about $110M worth for the past two months and in Q2 Ripple sold about $250M worth of XRP so I'd say it's about right. I hope utility will drive price increase at some point, but I fear I might be long gone before that happens Hopefully it will happen in the next 2-3 years, but looking at the past 2 years I'm pretty skeptical - speculators and demand will be the deciding factors for the foreseeable future imo.
  5. It's not though. In Q3, just purely looking at the CMC XRP circulating supply has increased by ~370M which is about 0.85% of the total one, BTC has increased by ~110k or about 0.6% of the total one. But the biggest difference is that BTC volume ( https://messari.io/onchainfx ) is about 15 to 20 times bigger than the XRP one on average so it should be much, much easier to handle the new supply (mind you, it still affects the market, hence why usually halvings trigger bull runs)
  6. Does anyone know what happens with my monthly $5 subscription if I don't visit any Coil enabled websites e.g. I don't read XRP blog posts etc.? Is it still considered 'donated'? Or let's say I stumble accross one website for 5 mins/month - do all of my subscription money go there?
  7. Oh, absolutely, I'm not saying Wietse should get $250M, but he should be getting a lot more since they are 3-4 devs as far as I know.. and Coil should be getting a lot less. Heck, there are startups with a lot of employees and super ambitious ideas that need less money to operate. Even Ripple themselves got less money in the beginning.. Would've been better for Coil to get a smaller investment initially and if they meet a certain criteria - receive more XRP.
  8. How so? Give it time, you don't really think Coil will just print out their 1B XRP address and hang it on the wall, right? It's an additional supply that will inevitable have an impact on the market. It's kinda ridiculous that Wietse, probably the biggest XRPL contributor that is a non-Ripple employee, gets 100k while Coil, a platform with a dodgy business model and barely any users, gets $250M. Given the recent news of Ripple reducing programmatic sales I'd expect some of Coil XRP sale earnings to flow back into Ripple.
  9. I'm shocked people still fall for these twitter scams.. they've been around for ~2years.
  10. That's a good question. It would be interesting to see how the market will react - I think the narrative that BTC is digital gold and a safe haven might be pushing it a bit, e.g. when the yield curve got inverted all markets tanked, especially BTC, so at the moment it doesn't seem to act completely like gold. If people start seeing it as a safe haven it would mean that crypto/XRP will do OK-ish (at least not lose much value in terms of USD), but otherwise - I expect a significant price drop due to lack of buying power.
  11. Even if they burn 50% of their stash this won't guarantee a pump in price anyway (at least not a sustainable one). The amount left is more than enough to keep the programmatic sales for a decade.
  12. "Garlinghouse said he expected “over $1bn of xRapid volume” by the end of 2020." Hehe, another one worth going into my collection of Garlinghouse quotes.
  13. I fully agree and tbh btc seems much more liquid so it should make sense but Ripple are not going to commit suicide like that I'd imagine.
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