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  1. Santander, AMEX, Ripple

    And its only ONE bank so far dropping the news... whats going to be interesting now is the timing of the next set of revelations, also the performance of Amex revelations on earnings in the next quarter and just how much they save by using Ripple. That info alone should cause more clients to approach Ripple. Timing is everything. too much good news in one hit will not neccessarily be a good thing. The amex news is fantastic, but if there were three more announcements like this in the next week it would cause havoc with long term growth and expectation.
  2. One of those arrested was an ex client of mine. Its not just to do with corruption, although that is a large part of it, there are plenty that are still walking the isles of power in Saudi who are just as corrupt, if not more so. This is much more about consolidation of power in KSA. The Middle East is never boring to work in i'll tell you that much!
  3. @TiffanyHaydenIt was sort of random to be honest! I work freelance as a project/production manager in global events and construction projects. around 3 months I started a contract in Al Ain in the United Arab Emirates. (i'm London based but have been in and out of the Middle East for around 10 years). I got into a conversation with a couple of colleagues here about crypto currencies and and day trading in general. Have always had an interest but no knowledge at all - partly fuelled by the fear of lack of understanding that many people have about day trading and losing vast amounts of money/scare stories. This time though I decided to do something about it and started reading...and reading... and reading some more. I'm a reasonably analytical person and initially looked at mining myself with BTC and ETH but realised unless I was going to invest in big the likely pay off and type of work involved wasn't for me. Naturally after looking at BTC and ETH, my attention turned to XRP and it was the general business model that I liked. Even to someone who knows little about the finance, the basics of instant movement of money whilst saving cost in the same process is an absolute no brainer - its genius. It could be likened to the first iPhone replacing the Sony walkman as the dominant consumer product in tech however long ago it was. Add to that like I said the way in which Ripple behave as a company, their strategic approach and the moves they are making, all of this built my belief in the products and as a result, XRP as well. Even not knowing the detailed in's and out's, the basic premise is enough for anyone to relate to. Turns out my timing was pretty good (pure luck) and I got in with my first couple of purchases around October 23 at the back end of the last fall off in price. Managed to snag a couple of positions at .189. Since then I have built up a reasonable stack of units at an average buy of .208 so not an early adopter at all, but with a comfortable amount investment wise its money I have in my mind locked away for between 12 to 36 months. Longer if need be and of course I will assess as time goes by, but I'm definitely in it for the long haul. I also went in with very small amounts on a couple of ICO's. (totally negligable figures in fact) those being electroneum ETN and CarTaxi CTX I tell you what though, I would love to have worked on SWELL myself. My first love is producing events and I have worked on some monster events around the world. Working with something you believe in is always so much more rewarding. Im guessing you work in finance to some degree at least?
  4. From a laymans (and admittedly uneducated) perspective, I was perhaps not quite clear on "trust". Without going into PoW or PoS, and looking at the big picture, I was referring to perception and ethos as a whole. As someone who knows literally nothing about the world of finance and crypto in general and learns only from reading as much as possible on both ends of the spectrum then forming my own opinion, my point on trust is more in the classical sense of the word rather than based on the technical definition of the word within industry. I'm not quite claiming that Ripple or XRP is decentralised either, as I mentioned early on, regardless of the upcoming escrow deposit I believe there is truth in centralisation within Ripple. The point i'm making is, given the general perception of the entire crypto industry from an outsiders perspective, I chose to make my long term investment on Ripple on the basis of the fact they are attempting to embrace the current legal frameworks in multiple countries simultaneously rather than work around them to make a quick buck as is the general approach that seems to be the case for most other cryptos (sweeping statement perhaps?) Like you I totally agree that taking the high road is rarely spoken about in good terms (or more importantly, reported on in a method and volume that matters) but in the long run, its actions like these that create the fundamentals for something that isnt just out for the immediate gain with no concern for the consequences of what the long term impact of those gains might be. I have absolutely no clue when and where XRP will rise to, but like you, I genuinely believe it will get to that same level of fame and performance. I'm in it because I believe in it and what they are trying to achieve and that gains may well come as a result. I find that people who chase bitcoin and other cryptos are not the same and perhaps even the reverse, i.e. they are in it purely for the gain but have no belief in what BTCs existence is about. I'll climb down from my soapbox and hand over the mic again now.
  5. @TiffanyHayden agree with what you have written and I guess this backs up my point whilst simultaneously contradicting it to some degree... and expands it given my reference to developers was in passing but now I think about it you are correct there too. In a nutshell: - "decentralised" is an overused term and given the current status quo, it is not accurate. - the trust factor falls in favour of ripple not just because of its approach, but the grand vision of blockchain being applied within a legal framework globally. This trust is not just for the hardcore cryptonians (yes... superman!) but the average joe. Not just because of the systems/software approach, but the integrity of Ripple as a company. Correct?
  6. To gather 24 global central banks in one location at the behest of an independent cryptocurrency that employs only 150 people is in itself no mean feat - even if it means the banks may save money, dont forget we are talking about financial institutions that quite literally run country economies. To get these people to take notice and understand how to create the foundations for country financial regulations to accept blockchain tech and gear them in the direction of Ripple is CRUCIAL to success. Its going to be a stumbling block to some degree as you can imagine every nation and central bank will have its own rules/regs/methods as to how they conduct business and transactions. Progressives like India, the UAE and Singapore may be easy to convince and adapt (even though the process may take work, the decisions to get there probably wont) Other countries which have a more robust (or perhaps rigid?) approach to fintech in general may take a bit longer to get there, but the point is once a few central banks actually implement along with any adapted rules to facilitate the use of blockchain, then any banks who base operate out of that nation will have a much easier route to implement the tech themselves. I have always liked the vision in general, but after the head hunting of Marjan Delatinne and now this meeting gives a small insight into just how strategic and politically they are playing the long term vision.
  7. Simple question really (and apologies from this noob if it has already been covered!) Where and how would Ripple likely announce its lock up first? The date for me is almost a moot point as we all know its going to be before the new year, but knowing where and how the announcement might be made would be useful? Obviously there is a news section on the Ripple site, Brad seems reasonably active on twitter etc so I assume these are most likely ways to announce, but does anyone in the know...know?? i.e. Historically do Ripple have a pattern or method in the way their PR is handled?
  8. Goodbye to Ripple

    That is actually a brilliant analogy. Agreed. Another way... What will win... Compact Disc? Or Laser Disc? F*ck me I feel like I'm an old fart saying that... Here's a pic of my youth desires...
  9. Goodbye to Ripple

    Funny enough my boss is using RAKBank (I am currently working out of the UAE on contract before heading back to UK) He's pretty happy with them. The UAE in general with the likes of UAE Exchange/RAK trialing and NBAD being the first to go live with Ripple definitely seem to be embracing progress in this area.
  10. Bingo. Thats pretty much the point I was trying to make. Like you I have no problem with Ripple holding some control over the way they handle their decisions, moreso because of the nature of the business being designed to work inside a legal framework and not outside it. If anything to anyone with a financial head that should instill MORE confidence in Ripple as a company and XRP simultaneously as in the long run it presents a major form of accountability that grows moving forward rather than a platform where the ground could fall out from underneath it at any given point. Ethereum I see as similar to BTC however with a bit more of a solid footing. Given its general aim is smart contracts and by the very nature of that objective meaning it has to have some sort of diversity in its application, without looking up the numbers I would assume that it is perhaps a little less centralised than BTC (though that said mining operations for Ether are just as prolific I suppose) Still, without wanting to sound dictatorial, I do believe people cant always be trusted with decisions of this magnitude as the impact when wrong can be quite serious (Brexit anyone?!) Ironically having said that I am a liberal and left leaning so believe me when I say I recognise the hypocrisy of my own statement there! Back on topic for a moment then... given the above. I would perhaps go so far as to say there is a "window" for the likes of crypto giants like BTC to exist...but are they likely to be around as long as FIAT currency if the rug was to disappear underneath them? Thats my question... On other days... I sometimes like to ponder existence....just sayin'...
  11. One of the biggest original "sales" points regarding most cryptos in general and BTC in particular seemed to be its decentralisation. The notion that a valuable currency was not controlled by any government or central bank and therefore could not be manipulated in a world where people were seeking a way to circumvent these systems would of course be highly attractive. In early days this notion stood true and to a certain extent there still is some truth in that. However with the volume of mining taking place in China and the largest pools controlling such a large portion of the mining process, is there not an argument to say the currency is no longer decentralised at all and now more along the lines of (say...) a board of directors in a public company who also hold a large portion of its shares? Its a strange analogy I know but you only have to look at the size of the mining pools and operations in China to realise that there must be a significant amount of control coming out of the likes of AntPool/Bixin/ et al. Now obviously the developers also have some control in decisions but the point I make is, the notion of "free market, decentralised control spread across a global network" is quite frankly no longer true. Pressure may be applied by other smaller pools to sway decisions, but ultimately the party with the largest stake can and will make decisions that affect the rest of the network and thereby the value of the currency. Now here is the kicker, without wanting to sound derogatory, crypto "fanboys" in the market have made accusations towards Ripple and XRP that it is not decentralised as its supply can be controlled by Ripple (regardless of the upcoming escrow deposit, there is truth in this statement to some degree which cannot be ignored). The point though, is that with the likes of Bitcoin designed to circumvent the financial system and Ripple taking the opposite approach to work in harmony with it, surely this has long term implications that speak to the integrity of both currencies? What I mean is, ultimately, if the large BTC mining pools became too large, lets say there comes a day where the top three pools controlled around 75% of the mining process, is there not a danger of that being recognised as "hang on a minute...why are only these groups able to make strong gains from this process?" I could be miles out here and would love to be corrected...but in theory and the worst case scenario, could this present a collapse of BTC??!!
  12. Goodbye to Ripple

    I caught a glimpse of this article the other day and whilst well written, I think it doesn't consider a number of details which are pretty important: 1) Ripple has first to market advantage. Even IF other companies decided to try and create a blockchain based competition model/product to Ripples software, they have been in the game longer than anyone and will already have ironed out bugs and approach mistakes which new competitors would have to learn their way through - that INCLUDES Swift. 2) The argument about businesses not needing instant transfer is flawed as it misses the big point about currency swing. On a transaction of $100usd across the world, if the dollar lost say only 0.2% against the currency it was arriving during the time the transaction took place on the other side of the globe (lets say for example the yen) then its a loss of only 20cents. no big deal right? What if the transaction was for $10'000? or $100'000? or... $10'000'000? That loss for the receiving or sending bank (depending on which end the fluctuation was) has just become $20'000 as a result of a 0.2% fluctuation in a 6 or 12 hour window. Now what if the fluctuation was higher? say 0.5%? or if the dollar was having a really bad day and it was 1.5%? all of a sudden the numbers become very important and have just become a $150'000. This is ONE example for ONE transaction... now multiply this by all the transactions in a given day and you might understand a fraction of the problem...its HUGE. Why does ripple solve this? Because in an instant transfer of 15 seconds, there is no time for currency to fluctuate in a way that is very significant. This saving is not for businesses, its for the BANKS who are exposed to these fluctuations all day every day. Again, even if SWIFT GPI and their blockchain based tech works, it would need to be instant to tackle this problem - which SWIFT themselves have stated it isnt. The only way to negate these losses is with instant transfer as its the only way that exact figures can be locked from one side of the world to the other. 3) Reactions to client need. Large versus small companies. SWIFT employ close to 2000 individuals. Ripple employ around 150. On the surface this may seem like a bad thing to some as how can they possibly have the manpower to take on such a big company? Bullsh*t (excuse my french!). Small organisations and teams are 90% of the time not hindered by the hierarchy and restrictive business practices of an organisation with large numbers. Means they can react faster. I myself am currently working on a project which was turned down by a large number of construction companies due to the short time frame and their business model. Our core team is only 5 staff with a number of specialist sub contractors do deliver a project in 3 months which should usually take 6-12 months for a big company to do. 4) The domino effect. SWIFT hold around 11'000 clients globally, currently Ripple only hold 100 or so. But there is a single critical point here which would make a massive difference. If (and yes, this is a big "IF") Ripple were to manage to nail contracts with between only 5-10 of the BIG global institutions (e.g. Goldman, Deutche, Barclays, HSBC etc etc) then the earnings publications of any of these companies alone would be enough to start a cascade of banks approaching Ripple rather than Ripple having to approach clients. It is I know a huge assumption, but its definitely not "out there". Right now the institutions which use Ripple are reasonable but not any of the really big fish. Imagine if Ripple captured UBS tomorrow and they started using both Ripplenet software AND the extra savings associated by using XRP? Guaranteed that would create literally a waterfall of business into Ripple and the price of XRP would fly overnight. Its not just the quantity of institutions that sign up to Ripple - its the QUALITY of them that count as that would be a big determinant of growth. (My reference here is to these institutions actually implement Ripple products as opposed to testing them which the likes of UBS are right now) 5) The use of XRP as a currency is dismissed in the article but that completely ignores the work Ripple are doing with Interleger and Mobile wallets which I can see becoming the long term future of banking. With the cost of transactions coming down as much as they would, plus the mobile smart world advancing in the way that it is, even cash heavy societies have more and more impetus and mechanisms to embrace banking. Currently Ripple are working hard on this element in South East Asia in particular, but the application of this model is global and has enormous potential for growth. OmiseGo are working in this window as well and are making solid progress from what I gather, but of the two organisations its difficult to tell which has more potential. 6) Diminished supply over time - with the upcoming escrow deposit and the long term shredding of XRP after each transaction (which as ripple grows, means more XRP being shredded in a shorter period of time in the future), I think there will come a point where the arguement of supply and market cap will no longer be a disadvantage to XRP and will actually turn the tables/reverse in the other direction. WHEN that will be is of course dependant on the speed of adoption. That is anyones guess, but it is a "when" and not an "if". The amount shredded may be small and the volume place in escrow is large I admit, but again, I think there is no consideration to the control of supply into the market. Some traditional crypto fanatics may see this as a bad thing as the system is not "truly" decentralised. Me personally I see this is as a good thing as in the banking world, the notion of an objective third party that is not decentralised and can still cater to banks its unique and a great USP for their clients. Regardless how true crypto fans see it, we all know that XRP as a currency and Ripple as an organisation are NOT there to to cater to the likes to bitcoin fanatics - its target is totally different. With all of the above said, lord only knows. I must admit I am sceptical of XRP ever reaching more then $5usd. but $1 in the next 2-3 years with the RIGHT market adoption? Its possible depending on how successful Ripple are at capturing the right clients. But then again... what the heck do I know? *faz licks his ice cream and gets down off his soapbox...*
  13. Noob :)

    Hodor! GOT wins. Thanks for the welcome everyone
  14. Noob :)

    Hello all, thought I would say hi. Long term XRP investor here (not interested in short term trades for the moment) just building up knowledge and learning a bit for now! Faz