Hello! This is my first post on XRPchat. It's so nice to start a conversation with you all! There seem to be a lot of great people hanging around on these forums (as well as a fair few trolls -- though no more than you'd get anywhere else), so I'm looking forward to picking your brains for info.
I wish I didn't have to begin this way, but I feel I must begin by saying I'm not trying to spread FUD. (In fact, I probably have more XRP exposure than is sensible!!) But I recently came across a disturbing idea that challenged the typical valuation model I have seen bandied about for XRP (the typical model being something like: $1 trillion of daily cross-border settlements means XRP needs to be worth $10 minimum.) So, with no more further ado:
In this Reddit thread, /u/mrmrpotatohead claims that:
... and then states that...
Simply put, he's saying you need to divide by 720 because each unit of XRP could be used that many times per 24 hours—and that is *if* transactions even take that long. If they are faster, the divisor needs to be even bigger!
Is this idea correct? If so it would severely limit the maximum price of XRP.
Given the substantial pile of XRP I'm sitting on, I'm hoping someone can tell me why he is wrong!
Thanks in advance for any light anyone can shed.