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Hynzie

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Everything posted by Hynzie

  1. I just saw this article about Japan wanted to launch a J-Coin that will hold value at par to a Japanese Yen. What impact do you think this could have for XRP? Would vastly more people in Japan having digital currency as their standard currency allow for easier access to cryptos? http://uk.businessinsider.com/japan-plans-new-digital-currency-j-coin-2017-9
  2. Hynzie

    J-Coin potential impact

    My concern would be that it's a consortium of japanese banks that are combining to bring J-Coin forward. Ripple may be losing potential customers if this is developed by banks. Ripple could potentially still pick up international transfers and FX transfers from these banks but if J-Coin becomes stable/mainstream this consortium could look to expand its use in these cases in future.
  3. I am trying to work out the potential price per XRP should a certain level of credit transfers be processed through Fiat -> XRP -> Fiat. I keep coming up with a fractional value per XRP so must be going wrong somewhere - happy to be schooled on this: Say there is 100 billion transferred through XRP daily. That's 4.2 billion per hour, 70 million per minute and 35 million per 30 seconds. XRP supply is in or around 45 billion, and say there is a close time per transaction of 30 seconds. Is the XRP value not then 35 million required for transfers every 30 seconds / 45 billion supply = fractional value per XRP. These are obviously very simplistic calculations but I am trying to understand what I am doing wrong.
  4. It's the $1.43 value i have concerns with. That is based on a supply of 65b XRP to meet demand demand of 90b USD per day. But each XRP can be used multiples times per day, so the available volume of XRP daily is not static at 65b, but a multiple of how many times that XRP is transacted per day. The total volume of XRP available daily to meet the 90b USD of demand would then be significantly greater than 65b XRP.
  5. This is what I would be querying - how can the value increase when supply will always significantly out-way demand.
  6. Yes it's true that holders won't just sell at the first spike in price so a certain portion of XRP will be 'non-trading' and effectively out of the market. But the article does not appear to include the fact that each XRP can be re-used multiple times daily. So in your example above lets say the 30b XRP available can be re-used 100 times per day (given 6 second close times for XRP this is I think conservative) - then your daily market available volume of XRP is 100 * 30b XRP. This is what I can't get my head around?
  7. I get what you mean - my point is that the close time for each transaction is so quick that demand would have to be truly enormous to increase the price significantly. So in your example someone wanting 'x' amount when only 'y' is available is highly unlikely when the total volume is currently 45 billion which can be re-used multiple times per day.
  8. Yes I agree institutions holding XRP in reserve will impact substantially. I am a invested in XRP and I am highly optimistic about its future, it's only when I tried to work the numbers that I started to have my doubts. In any case the XRP price has reached its value today without any real usage by banks, so once the bank demand starts to impact it should increase nicely.
  9. I just chose it as a starting point for the calculation. I could just of easily have used 1 trillion but by the same calculation method the XRP price is still very low. The point I'm getting at is will XRP demand ever be so significant that the price will increase substantially. When XRP can be re-used so many times per day that demand would have to be ridiculously high in order to increase the price substantially.
  10. Thanks for the great article. The issue I still can't get my head around is that XRP closes a transaction so quickly that each XRP can be re-used multiple times per day. So in the article the total daily trade volume $91.9 billion is divided by 65 billion XRP in available. But the 65 billion XRP availible can be re-used over and over each day so the real 'available' volume of XRP per day would be significantly higher keeping the XRP price lower?
  11. Can anyone confirm it's capital gains that's due on profits and not income tax? Assuming we'll all good tax paying citizens
  12. The background of the https://swell.ripple.com/ website looks very similar to the shapes included in the 3...2....1... announcements on Twitter. The previous chairman of the federal reserve is a nice speaker to have in there.
  13. Hynzie

    Ripple ledger close time

    Hopefully yes - it's at 8/9 seconds now so I'll just look away and hope its due to some back end work
  14. I have looked at the ledger close times every now and again over the past few months on the Ripple website; It has typically been 4/5 seconds. It's now showing a close time of 6/7 seconds. Not a huge difference in real terms but it is an increase with no significant change in usage by large banks (from what I understand). Could a large bank (or number of banks) with a significant number of transactions be using the ledger now - and today's announcement might confirm this? I'm not a tech person so could be way off here?
  15. Hynzie

    Ripple ledger close time

    It looks as though normality as resumed now. Re; Hodlezerpers comment - an 80 second close time with what is a relatively small increase in transactions (compared to what they are planning long term) is troubling. Maybe teething issues as transactions increase but I would have thought a sub 10 second close time would be maintained.
  16. Per coinmarketcap the circulating supply of XRP is c.38 billion. Why would the circulating supply not currently be the full 100 billion XRP (less a few million XRP destroyed by transactions)? Until the escrow occurs are Ripple not freely available to distribute/sell their holdings? I note Ripple's website itself display a current market cap based on the full 100billion XRP
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