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Can someone explain the differences between interledger and polkadot? Polkadot has raised $130 million. What can they do that interledger cant? http://www.trustnodes.com/2017/10/15/polkadot-ico-raises-130-million-just-begun
This is a question for the Ripple team. Most likely, @miguel. However, maybe @JoelKatz could provide some information as well. One of the huge takeaways from SWELL is that XRP liquidity needs to be grown before we can start to (hopefully) see widespread usage of XRP by financial institutions/payment processors. The goal of this post is to understand just how much liquidity is needed before FIs can start using XRP on a consistent basis. Let's use the US Dollar and the Peso as an example (USD/MXN). Also assume we are talking about remittance. There are two components to this remittance transaction that uses XRP as the bridge: 1. USD/XRP 2. XRP/MXN Additionally, please keep in mind that their needs to be enough liquidity to be able to handle peak transaction times (for example, Friday afternoon after lots of people receive a paycheck). As a result, deep XRP liquidity is needed on both ends (USD/XRP as well as XRP/MXN) in order to process all these transactions. So the question is, just how deep are we talking about? Let's use USD/XRP to keep things simple. Two questions: 1. If the USD/XRP pair is trading $.20, then just how much liquidity is needed on the offer (let's just assume "best offer" for now)? If it's a $1000 transaction, then we are looking at 5,000 XRP at the best offer for that single transaction. However, if transactions are coming in every 10 seconds, then this number needs to be greater. So how much XRP is really needed? 200,000? 500,000? 1,000,000? 2. How deep does the liquidity need to be? Using the example above, what if the "best offer" is only 50,000 but there's consistently 500,000 total XRP offered across an entire penny (so .20 to .21)? If this is the case, would this be sufficient? So to sum it up: (1) What is the ideal amount of XRP that needs to be offered for the USD/XRP pair and (2) across what price range? I know there isn't a specific answer and their a lot more variables I didnt address, Im just looking for a ballpark understanding of what Ripple as well as financial institutions would consider "liquid." Thanks for everyone's time.
While their was undoubtedly a lot of good that came out of SWELL (I think everyone would be shocked if a bunch of great relationships/partnerships didn't transpire), it's pretty evident that a lot of people on the consumer side of things (for example, some in the XRP community) lost faith in Ripple and feel mislead. So much so that Brad Garlinghouse (CEO) had to hold an impromptu Q and A session the morning of the last day of the conference. That speaks volumes. We don't know the entire story or what went on behind the scenes (did something fall through at the last minute???), so I don't want to be too critical. However, this also isn't the first misstep by Ripple's marketing team, so I don't think we can write this off as a one-off event either. Whether you personally disagree with people critical of ripple or not is irrelevant. The bottom line is that this "miscommunication" had negative consequences and was entirely avoidable. Assuming no last minute catastrophe that we aren't aware of, EXPECTATIONS to the XRP community, and the crypto community in general, by Ripple's marketing team as well as CEO Brad Garlinghouse on Quora were not managed properly. Without insider knowledge, we don't know exactly why the miscommunication occurred. Let's look into a few possible reasons why. Please keep in mind these are simply possibilities. It could also be none of these. This is more-or-less just food for thought that serves to set-up the main point of this thread (the state of Ripple's marketing infrastructure): 1. The executives (Garlinghouse, etc.), while very strong on both the technology and sales front, place little importance on marketing. Hence, why their isn't a Chief Marketing Officer. 2. The marketing department is completely overloaded. Remember, they have to market from both a Business-to-business angle (e.g., banks) and a Business-to-consumer angle (e.g., the people on XRP chat, the people that invest in cryptos, etc.). 3. The marketing department lacks proper experience and know-how. To reiterate, I'm not making accusations. I don't know the answer(s). What I did do though is look through LinkedIn to get a better idea of Ripple's commitment to marketing. For the record, this was not an enjoyable task. I don't like having to pull out the microscope. However, let's not forget that a large part of Ripple's funding comes from us. Ripple sells XRP and we buy it. In the last quarter, Ripple sold $32.6 million worth of XRP into open markets. XRP holders are an integral part of Ripple's success. We are helping to pay for operations. We are helping to pay salaries. This is a mutually beneficial relationship. Because of this, I'd argue that it's our responsibility to ask Ripple hard questions like the below. If Ripple is the company we all think and hope it is, then hard questions shouldn't phase them. In fact, Ripple should be happy to have such dedicated, passionate followers. Finally, please remember that the questions below are based-off of data pulled from Linked In. I very well could be be missing some key information (I'd be very surprised if I'm not). I'd also ask that we remember that we don't know everything that happened behind the scenes. Because this is a sensitive subject, please be respectful in your comments. QUESTIONS (and remember, we're told Ripple has a multi-billion dollar "War Chest," so money shouldn't really be an issue) *Excluding designers, why does a company with offices on 4 continents only have around 8 employees dedicated to marketing? *How are only 8 employees supposed to execute marketing plans for both B2B (e.g., financial institutions) and B2C (e.g., crypto community)? *Why does Ripple not have a Chief Marketing Officer? Does the marketing department have a "voice" during Executive meetings? *Should it be a concern that no Ripple marketer has more than 10 or so years of experience? *Is it probable that a person with only 10 or so years experience (and no past experience leading a marketing department) can successfully lead the marketing efforts of a global corporation that seeks to revolutionize the multi-trillion dollar financial industry? Or, would Ripple be in a better position if someone with more global marketing experience as well as a distinguished track record were leading the marketing efforts? To sum it up, Ripple's technology, sales, etc. departments appear to be top-notch. However, Ripple's commitment to marketing appears to be lagging. If I simply have bad info from Linked In, I look forward to apologizing. I really hope this is the case. Once again, please be respectful with your responses. At the end of the day, we're all on the same team.
@JoelKatz Do to commission/transaction costs charged by the huge banks (JP Morgan, Citi), is it possible that it could eventually be cheaper for a small bank to go EUR --->XRP--->USD than it would be for that small bank to call up JP Morgan and place a EUR/USD transaction through them directly (the current system)? Thanks