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Showing results for tags 'scarcity'.
Many of us have strong arguments for the various price projections in our mind, but does anyone truly understand the effect that Fee Voting could have on the XRP market? https://ripple.com/build/fee-voting/ The purpose of Fee Voting is to keep from spamming the network, but what effect could this have on the scarcity of XRP over time? I find it hard to believe that Ripple would be in the habit of lowering their asset value.
15mil (average SWIFT transactions per day) x 365 days is 5.4tril annually. 5.4tril annual transactions consumes 54mil XRP, and that's just from SWIFT alone (Visa processes over 8.9tril transactions annually, which will consume 89mil XRP). For example, Western Union charges a fee of $5 for a simple wire transfer of $50. I can't even imagine the SWIFT fee's on wires in the millions of dollars. 1XRP can facilitate 100k reference transactions. Due to scarcity + volume (not even including subjective market value) it's not unrealistic that 1XRP could become worth upwards of $1,000 or more based on the amount of money saved on SWIFT fee's alone. What do you all think? Maybe $1,000 is low-balling XRP's potential.