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  1. Ever since I rejoined the forums, I sometimes get private messages in regards to forming a new CAD gateway. In this thread, I am asking the community to provide some suggestions and feedback to determine if a new gateway is feasible. I was asked if I would perhaps perform a crowd funding round from the XRPchat community to bootstrap a new Gateway, which I will touch on later. The first thing that I would need to do is set up a new issuer, requiring about 500 XRP to cover OwnerCount objects in the ledger from trust-lines and to activate new ripple accounts who are coming to the Gateway in addition to providing some small amount of XRP to the market making account to cover the major order-books so that payments can find paths. Second, I already have a domain name registered until 2023 and I have the ability to host a website via shared hosting on the monthly basis but this means I will not be able to host an instance of rippled as I will not have enough resources to run it on the package I have available. Third, I would require capital to purchase silver for remittance over the RCL, as all of my gateways in the past have been focused on cryptos, fiat, and precious metals with precious metals being the focal asset class offering for all of my Ripple Gateways to date. This would be about another 600$CAD (or more) so that I could purchase a tube of silver rounds for remittance. As for crowd funding to jump-start a new Gateway, if the official forums were still up, I could point all of you to the postings in which I mention the crowd funding rounds that I already completed in the past via the NXT blockchain. The major problem with a crowd funding round is how do I provide value to the backers of the crowd fund? At first the NXT asset was providing 45% of the profits derived from the gateway calculated in NXT then shared to the XAGATE asset holders on that blockchain using their pay dividends function but I was still the majority share holder of the assets so I was receiving 51% of the dividends paid as a kickback for not selling my company's equity so easily (I forget the price per asset but it was set pretty low). With all of this being said and done, I invite you to take a look at https://streetsofsilver.website to view the fee schedule this Ripple Gateway will launch with. Please note that USD withdrawals will be done via wire transfer and that is why the withdrawal fee is set so high; If I am able to find a way to reduce this overhead I will be able to reduce the fee drastically when/if this Gateway launches. That is all for now folks, please, provide me with your suggestions and feedback as to how I may be able to provide some value to the interested parties who may want to crowd-fund this project! EDIT: Someone pointed out via PM that the deposit fee for Ethereum on the site was listed as 0.1 ETH per deposit which is a preposterous amount, the actual deposit fee is 0.01 ETH, that was a typo.
  2. ...is xrp's potential for being used as "reserves." I came across this article that discusses the concept of "forex reserves:" http://www.nbdpress.com/articles/2017-06-08/2632.html Before reading this article, I've heard the concept of xrp "reserves" being purchased by individual companies or market makers as a tool for managing risk and being able to profit from volatility. (source: _https://www.xrpchat.com/topic/5280-valuation-models-xrp-the-digital-currency-vs-ripple-the-company/?do=findComment&comment=50182_) The concept was always part of a larger topic, and I guess I made a mental note and just kind of said to myself "Well, yeah, that would be cool. I wonder if that would happen with a large retailer like Amazon that does international commerce." I left it there in my thinking, like a shiny bauble that might get my attention again at some point in the future. After all, I'm focused on the big fish - the possibility of RCL taking over for SWIFT. And then I read a simple group of words from this article, and realized I'd been missing the power of a concept all these years. Here's the snippet: Did you catch that amount of USD that China uses for the sole purpose of ForEx? 3.05 trillion. The Concept Nation-state federal reserves will usually carry the main unit of currency used to make ForEx transfers. And currently, US Dollars are the de-facto currency used to do those transfers. What is SAFE? (source: https://en.wikipedia.org/wiki/State_Administration_of_Foreign_Exchange) USD is Currently King of Reserves So how do we arrive at how much USD some other countries might just "store?" To do this, we need to compare the relative size of China's economy with other nations, and do the multiplication. Let's do this with a few different countries where Ripple has already established trade pairings: GDP of China: 11,218,281 ---> 3 trillion in reserves Japan: 4,938,644 ---> 1.3 trillion in reserves? UK: 2,629,188 ---> .7 trillion in reserves? India: 2,256,397 ---> .6 trillion in reserves? South Korea: 1,411,246 ---> .37 trillion in reserves? Basically, we can roughly estimate that these combined countries store approximately 6 trillion USD in reserves. Also, consider the fact that I'm not even considering businesses within these countries. Large companies tend to want to keep their own reserves of USD for exchange as well. And these companies can store very large quantities of USD in their corporate treasuries as well. I don't *think* nations would ever store a digital asset issued by a private company as a reserve, or if they did, it would be for boutique purposes most likely. A more likely scenario under the current system would be central reserves creating their own IOU on RCL. However, we can use the concept of "reserve" to understand how very large companies might want to snap up XRP at large quantities. So now, go back to the articles here on XRPChat where JoelKatz was talking about the concept of "reserves," and now three of his points should make more sense: (source: _https://www.xrpchat.com/topic/5280-valuation-models-xrp-the-digital-currency-vs-ripple-the-company/?do=findComment&comment=50182_) This is the way currency "reserves" work now for nations - and for large companies - and it is a very exciting prospect for XRP! What About the Future For World Reserve Currencies? There is a possibility that XRP could play a role in national reserves: In an exciting development, a report by the UN Conference on Trade and Development calls for abandoning the US Dollar s the single reserve currency. It says that the new reserve system should (Source: http://www.reuters.com/article/us-dollar-reserves-un-idUSTRE65S40620100629 ) The report goes even further: IMF Connection to Ripple So now we see the connection to the IMF, and now we can understand much better what Chris Larsen (and Ripple's) role *might* involve with the IMF Advisory Committee. If the SDR's are going to operate using a "basket of currencies", what technology do you think is best for representing that basket using an IMF-backed, redeemable IOU? Seriously? This type of usage couldn't be a better fit for RCL and XRP. Is your crypto portfolio on the right side of history? ###### DISCLAIMERS ###### THIS IS NOT INVESTMENT ADVICE PLEASE DO NOT TRADE CRYPTO WITH LEVERAGE I DO NOT HAVE ANY INSIDE INFORMATION I STILL OWN MTG CARDS
  3. https://u.today/ripple-enters-the-chinese-market
  4. https://u.today/ripple-price-prediction-for-november-quietly-in-reversal
  5. On a purely hypothetical and speculative level, when could a person who now holds 100k XRP hope to be a millionaire on that investment alone? 1 year? 10 years? 50 years? Within 10 minutes of this post? And explain why you think it will take your speculated time frame to reach that valuation... Hopefully this will be a fun, conjecture based post and subsequent replies...
  6. Kraken just started accepting domestic deposits from US Banks. It required a tier 3 level, wire routing number (not the one on checks), and following their instructions. I received notice from Kraken they had resolved their internal issues late Tuesday and initiated a deposit. Wednesday, I sent a wire transfer from my bank. It was credited to my account this morning. I was able to purchase XPR and get confirmation in just a couple of minutes. YEAH!!!
  7. Hi Guys... May be I am day dreaming ... lol.... but just a thought to share with you and (but since BTC @1200 has proved its foolish to say never/impossible ) I would appreciate your honest opinion, if you think its possible for XRP to get $20-$50 per XRP range.. The basis of this assumption/dream is that as its mentioned several times by Ripple has main focus on international money transfer due to their higher conversion difference and fee/charges. so the total daily turnover of forex transaction is around $5 trillion USD (based on info available in Google )and due to cost reduction benefits and these are few possible predictions for XRP depending on how much share can it grab of the market (1) XRP grabs 20% shares of total FX market = 5Trillion *20% = 1 Trillion /100 Billion Xrp = $10 XRP (2) XRP gets 50% share of the FX market =2.5 Trillion/100 Billion xrp= $25 per XRP (3) XRP gets 80% share of the fx market =4 Trillion /100 Billion xrp=$40 per xrp (5) same way it will be $50 for 100 % share (Not a chance but just a calculation )= $50 per XRP + We need to add few more things on the positive side which could be Speculation and domestic payments (which are not part of this calculation ) etc... Please don't troll and don't use disrespectful language ... any honest criticism is welcome....
  8. Guest

    Nice comparison

    I'm not really a big fan but dude might have a point here:
  9. Excuse me, I am sorry, I apologize, but I have been attempting to set up a Gatehub Fifth USD Gateway for the past month. I believe my account has been verified, as I sent in the proper paperwork over a month ago and received a verification conformation email. I have contacted gatehub support numerous times to no avail. I understand that their has been an influx of new registrations, but being that I sent the paperwork on Nov. 28, I would have expected to be able to use this feature by now. Can you please explain how to properly set the USD trust and link an international account as to properly deposit/withdraw USD directly from my wallet? Thank you, Lazarus 372
  10. Has anyone sold traded XRP for USD and withdrawn from Gatehub to your United States Bank? I did this 12 days ago, and still have not received my deposit. I have sent 2 emails to Gatehub only to receive automated responses. Any suggestions?
  11. Ripple's transaction costs are virtually nothing compared to credit/debit fees. Let's say the fees were as low as 20 cents per transaction... TRANSACTION COST - 0.00001 XRP CURRENT PRICE (1 RIPPLE/XRP) = $1.95 MEANING 0.00001 XRP = $0.00000195 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ If 1 Ripple = $100 TRANSACTION COST - 0.00001 XRP MEANING 0.00001 XRP = $0.0001000 These are ridiculously low compared to regular fees we use today. ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Transaction costs only change when there is an unusually high load. Ripple current market cap is also at #2 in cryptocurrencies at $87,306,798,133. XRP current price is listed at $2.25. The reason the market cap is so high is because of the big supply of 38,739,144,847 XRP. Bitcoin's market cap is currently $16,775,262 while 1 BTC is $13,834.40 and other cryptocurrencies have small market caps with high prices like BTC also. This means that only big masses can quickly fluctuate the price of XRP due to the gigantic market. Unlike the other currencies where smaller amounts of people can impact the price quickly When XRP is stable within the next few months after the people waiting for transactions from coinbase etc. It has a chance at being the top, most-stable currency behind FIAT (Not saying it will replace FIAT, but Ripple is doing things here). It can be used to make FIAT transactions much quicker and reduce costs for everyone. My reason of giving XRP at $100 as an example is because that's what I realistically I think it can reach with a lot of hype. If it gets very mainstream it can be a totally different story we all know you can't predict what goes on. It can easily hit higher prices and be just as stable. XRP transactions per second = 1500 BTC transactions per second = 3.3-7 (according to wiki, even if at 200, XRP is way way faster, this is the same for other cryptocurrencies) A very good point at why Ripple will be successful. This is completely theoretical from a couple minutes of thought that my brother initiated. Just wanted to share. Give some input! EDIT: If you read this early read it again, had a few typos lol.
  12. I have been desperately trying to sign up to an exchange that will allow me to pay in USD and buy XRP or BTC i don't care. Most Exchanges are overloaded others just lie and then you can only Deposit if you have an account in their country. Some you can but it will then cost you 30% more to trade on them? Any Idea;s please been running behind this bus for 2 weeks now CRAZY LOSING MY MIND Best Regards Marc
  13. So, it happened! In México 1 XRP is worth more than 1 USD now ! ! ! ! 1 XRP = 19.98 MXN 1 USD = 19.5 MXN I'm so freaking excited I can't even!
  14. Hello, I have been looking at the XRP LEDGER CHARTS and i have noticed there are about four fiat currencies, plus XRP making it five. I noticed using the Offercreate Transaction type, most of the currencies that i see been exchanged on it were this four currencies. Is it possible to use another currency, and if so, how would i go about it? I am just wondering why the currencies being used is USD,EUR,JPY,CNY? Why just this four currencies? Who decided what currencies can be used? Is it possible to use other currencies?
  15. Any comment on this captured on Bitstamp XRD/USD right now? 5 minute view. Is this bots trading? Or what?
  16. So I am new to all of this cryptocurrency. I just set up my first wallet with Gatehub, got my account verified, and began trying to transfer USD from FlashFX to my ripple address. FlashFX alerted me that I needed to establish a trustline, and in following the tutorials I can find out where to go to enter details. But I cannot work out for the life of me what the public address is that I enter so that the payment clears. Every google search has turned up empty. This is probably a super simple fix but I need help to work this out. Thanks in advance!
  17. Does anyone else find it odd that price analyses about XRP published elsewhere on the internet talk about psychological levels of support and resistance in terms of USD? 75% of the volume of XRP trading takes place in Korea, so psychological levels of resistance and support should be more applicable there. It's also worth noting that 1 XRP sits at 297 KRW at the time of this writing.
  18. https://futurism.com/can-now-trade-tokenized-us-dollars-ethereum-network/
  19. XRP has been performing better than any of the other top alts vs BTC over the past week. The only reason it's down vs USD is because BTC is down vs USD. If you look at their charts vs USD side by side they look nearly identical. XRP is the only major alt to actually have movements up vs BTC during this latest BTC sale off. Until the banks go live its looking like BTC will rule the price. But, XRP is doing way better then it used to during these things.
  20. Question re: future of XRP and it's value as an investment vehicle. When I look at what Limited understanding I have about XRP and Ripple, I am puzzled by the notion that holding large volume of XRP would ever be as valuable as say, the equivalent value of BTC. These are my assumptions: Assume banks are becoming ripple customers in order to use Ripple for Bank-to-Bank transfers;(this is the stated business model and seems to be confirmed by the number of conventional banks involved with the currency.) With that stated purpose, a bank would be able to move large amounts of USD easily with fewer XRP say if XRP were ever to reach BTC values. (So at $5k per XRP the bank only has to transfer 200 XRP to move $1 Million USD, and that seems to be efficient and easier.) But once moved, if the bank's customer wants to withdraw $1M USD, then the bank has to convert the XRP to have the cash on hand, which means Ripple allows immediate Bank-to-Bank transfers but creates great risk for bank balance sheets. Assume for a moment that this issue cannot be solved - and that the sole reason for using Ripple is to make Bank-to-Bank transfers faster and more secure, but "efficiency and ease" aren't the goal. In that circumstance it is more practical for banks to keep the value of XRP as close to the USD as possible, if not under $1 USD to factor in the bank's fees for the transfer. So to keep the numbers round, transferring $1 USD = 0.99 XRP. Then, balance sheets are a lot cleaner with less risk of the bank being shorthanded because XRPis = or <USD. Now Assume that Ripple Labs' holding 60% of the coins is being done in order to be able to control the value of XRP (i.e. flood the market when price gets too high.) And the 60% they're holding is described to customer banks as their insurance policy to guard against inflation of the XRP value. Assume that XRP as a consumer payment method (for example accepted currency by Alibaba and transacted with AliPay) would also argue for the value to be held to a very (relative to BTC) low value because consumer transactions require a value easily obtainable. Now my question: if the above assumptions are true, and it makes sense for XRP to stay closer to the value of USD, is there reason to believe the value of XRP will ever exceed $1 USD? Just wondering where my understanding lapses ... so I can understand the XRP investment logic. I'm holding a reasonable number of coins and deciding whether to continue to increase investments. Contributions appreciated.
  21. My understanding is that the goal for XRP is to become a reserve currency similar to how USD is nowadays. I also understand that the strategy of Ripple is to first target smaller or less transacted currency corridors for example, Guatemalan quetzal to South African Rand. What are the advantages to using xrp in those cases as opposed to just using the US dollar?
  22. TLDR: I have a US bank account and want to buy Ripple. What's the best platform for doing so? Is wire transfer my only option? ---------------------------- I'm new to cryptocurrency trading. Trying to buy some Ripple. I signed up and got approved for Gatehub.net, but it seems like my only option to fund from my US bank account is to do a wire transfer. According to this page, there is a $15 fee associated with wire transfers: https://gatehub.net/fees. I live in the US and have a US bank account and would like to minimize the amount I pay in fees. Is Gatehub my best option for buying Ripple, or should I be using something else? Is the idea to deposit USD from my bank into a Hosted wallet, and then moving it over to a Ripple wallet so that I can trade in my USD for Ripple? Thanks !
  23. I just transferred USD from my bank, here in the US, to GateHub. The website mentions that processing can take up to 7 days, but I just read some horrific reviews of funds not showing up for up to a month. Can anyone comment on their experience regarding wire transfers and how long it actually takes?
  24. If you are looking for technical analysis videos and charts of Ripple follow me over at Twitter, and check the videos out at YouTube. That being said; Ripple has been in a channel trade between 0.26-0.30 for the past 10 days; it has been building strong support in this range while waiting for the MACD to flip bullish on the day chart; still setting up for rally; it is building strong legs. Here is today's analysis: Twitter: https://twitter.com/ChartsCrypto Youtube: https://www.youtube.com/channel/UC4dVJFvNNL_YxYWB71Cp7Ow
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