Everyone is missing the big picture - Focus of SWELL is on ILP and not XRP!!!

[Guest1]

Please correct me if I'm wrong @JoelKatz, @Hodor, @Xrphunter,@cmbartley

 

I see so many people just fixated on the price of XRP during the SWELL conference. However, the focus of SWELL is not actually on XRP but on ILP!!!

 

Ripple's strategy is to promote the usage of ILP as much as possible - Look at the announcements like:

- Ripple kicking off SWELL with announcement of Bill Gates Foundation / Mojaloop being integrated with ILP

- Conference day 2 discussion among Ethereum, Hyperledger, Ripple etc. predominantly on interoperability (i.e. ILP)

- Inviting Sir Tim Berners-Lee to speak. He who created HTTP (the Internet) emphasizing the need for something like the ILP (the Internet of Value). He mentioned ""Yes, it's going to be exciting when two banks can connect through [Ripple's] Interledger Protocol and then you will actually be able for the first time to send money back to your family in Cuba or in Haiti without having to go through some horrible guy on the corner who rips you off. So you look forward to that," said Berners-Lee." (source: https://www.americanbanker.com/news/sir-tim-berners-lee-warns-fintech-developers-to-consider-consequences)

- Hyperledger announcing that their Quilt will be fully implementing the ILP for their blockchain efforts.

- Stefan Thomas  on many occasions emphasizing ILP much rather than XRP.

 

When Brad said "Ha. You think I’m gonna let the cat out of the bag today?" when asked about significant announcements during SWELL, I think he was probably referring to more partnerships to integrate the ILP and not announcements that would just impact the price of XRP.

 

This is what Ripple may be thinking:

1. Promote ILP as much as possible so that the entire world pretty much uses it. SWELL being used to try find new partners who will join in on the ILP interoperability. So kicking things off by "Bill Gates joined us on ILP!!! So you have a think about it too why it may be useful for you!!

2. Make damn sure that XRP stays the best bridging currency within the ILP. Ripple created the ILP so they will always be focused on making sure that XRP tech is on top of the game in the open-sourced ILP.

 

People who just see XRP price drop during SWELL is not seeing the bigger picture here.

Edited October 18, 2017 by Streamliner

[Parabellum]

What I do understand is that for years on end, we have been dealing with the faux distinction between Ripple and XRP which gets more difficult to keep up with each passing month. Ripple is XRP to some extent, and the same applies with respect to the reverse.  We have to stop giving Ripple itself a pass whenever its actions turn out to be damaging for XRP.

I think the risk profile of XRP has just risen after this conference, that is the most straightforward conclusion.  There's a difference between wanting to turn 1000 dollars into a Lambo (to name a stereotype), and being genuinely disappointed about the continuous lack of a usecase for XRP.  Before someone starts talking about Cuallix: that is not enough for me, not in this phase. 

But who knows, maybe the cat still comes out of the bag 

Edited October 18, 2017 by Parabellum

[Guest1]

2 minutes ago, Parabellum said:

What I do understand is that for years on end, we have been dealing with the faux distinction between Ripple and XRP which gets more difficult to keep up with each passing month. Ripple is XRP to some extent, and the same applies with respect to the reverse.  We have to stop giving Ripple itself a pass whenever its actions turn out to be damaging for XRP.

I think the risk profile of XRP has just risen after this conference, that is the most straightforward conclusion.  There's a difference between wanting to turn 1000 dollars into a Lambo (to name a stereotype), and being genuinely disappointed about the continuous lack of a usecase for XRP. 

But who knows, maybe the cat still comes out of the bag 

There! I think you missed the point again. I think that the integration and usage of ILP actually is a use case for XRP.

By promoting ILP, Ripple is effectively promoting XRP indirectly. However, people seem to focus fully on XRP and ignore ILP completely when it comes to the price of XRP.

Edited October 18, 2017 by Streamliner

[Parabellum]

On 10/18/2017 at 8:56 AM, Streamliner said:

There! I think you missed the point again. I think that the integration and usage of ILP actually is a use case for XRP.

 

Edited August 14, 2018 by Parabellum

[Kiir]

1 minute ago, Streamliner said:

There! I think you missed the point again. I think that the integration and usage of ILP actually is a use case for XRP.

I would agree.

Swell isn't for the public, per se. It's for the banks, corporations, other businesses and so on. 
There's is really no need to mention XRP specifically, for now. Infact, one could argue that it would be taking two steps instead of one, for no current reason.

Streamliner wrote it far better than I can, lol.

You lay the ground work, set the infrastructure and so on.

Then, XRP comes in naturally.

[Guest1]

1 hour ago, Parabellum said:

I want to see proof, or at least strong clues that XRP will be utilized in the constellation of ILP. This was the main criticism of ILP whenever it was announced, and it still stands in my view. Until then, I consider it by far more likely XRP will not be used. 

There are conditions that may need to be met for a crypto to be used on the ILP:

1. Speed - as quick as possible

2. Cost - as low as possible

3. Governance - there must exist a governance and regulatory framework so that users are protected

4. Transaction Thoroughput (Tx per second) - Must be able to process thousands of transactions per second (e.g. XRP has 1500+ tx / sec thoroughput I think)

5. Liquidity - there must be sufficient market cap to cater for increasing usage

 

Currently as it stands XRP is the dominant crypto and I think the only one they need to really focus on is increasing the market cap for liquidity (point 5 above).

If you know of any coin other than XRP that meets the 5 criteria above, please do let me know. I would be happy to invest in it.

Edited October 18, 2017 by Streamliner

[Amigo]

I partially agree @Streamliner (edit: towards soly ILP, just saw your additional post) but I would put it differently. Swell is all about responsability. ALL cryptocurrencies are speculative bubbles untill the actual usecase has been reached. If Ripple really wanted to they could easily pump XRPs price to $2 in a matter of weeks. But the chances that it will fall after that will grow just as fast in such a case, not helping people other than whales who already got superrich at the cost of others nor helping Ripples credibility.

In stead of this, Ripple is going for its usecase, of which interoperability is indeed a huge part, and to deal responsibly with peoples money and the banks money. Another part is getting banks to furher understand the whole landscape so they can make a responsible descision to of which product to choose. 

Their responsibility also shows big time in their efforts towards Mojaloop helping unbanked people in underdevelopped countries to take part in the worlds economy. This shows they are thinking further than some financial institutions at this moment, and most certainly than other cryptocurencies and their speculative traders.

In the meanwhile, Ripple AND XRP are by far the closest to reaching their usecase than any other cryptocurrency out there. The 100+ banks, the Mexican FI, their partnerships, their strategy and offices in countries with the most inefficient payment corridors. The last miles of the race to broad adoption will be very steep and require putting your energy on the right spots, which may not be pumping, maybe just keeping it within reponsible boundaries. And remember , in that race all other currencies do not even have that real steep part of the hill in sight. 

Edited October 18, 2017 by Amigo

[rainbowhunter]

17 minutes ago, Streamliner said:

I  think the risk profile of XRP has just risen after this conference, that is the most straightforward conclusion.  There's a difference between wanting to turn 1000 dollars into a Lambo (to name a stereotype)

You live in out in the sticks surrounded by dirt track roads, you drive a 4x4 (SUV) It might be slow and bumpy but it gets you there, when the roads are improved and you can drive with safety and confidence at speed you by a Lambo

[thetamind]

Quilt is everything guys.  It is the use case for xrp we have all been waiting for.  Interoperability is the keyword here, and the only way to make things interoperable with each other is to have a native asset they can all be compatible with, creating a bridge.... this is what xrp was designed for, and they will be on hyperledger making all of its members interoperable.  This is huge news.... DAWN.  It's the tipping point of xrp adoption.  This is what will create the liquidity banks will require to make digital assets attractive to them and sustain their scaling needs.  ILP will use xrp, don't doubt it!

 

https://www.hyperledger.org/blog/2017/10/16/hyperledger-gets-cozy-with-quilt

Edited October 18, 2017 by thetamind

[Xi195]

57 minutes ago, Streamliner said:

the focus of SWELL is not actually on XRP but on ILP!!!

Im not sure you're making the right point. The point of Swell is Ripple. Ripple comprises of a handful of products and technologies of which XRP and ILP are two. More specifically the point of a conference is to build excitement/buy-in and share information. 

The net long-term benefit of Swell will be hugely positive. Ripple opened up shop down the street from a deeply entrenched competitor's conference and created lots of buzz and excitement in its target market (still bankers, not you and me). That being said, I'm sure they will go back to the drawing board regarding how the event effected XRP. While their intention was likely not to hype the price of XRP, they didn't intend to spike it either. I'm sure expectation setting will be more tightly managed meow, though I'm not sure how many times we have to learn this lesson.

The cat puns are too hard to resist  ?

 

Edited October 18, 2017 by Xi195

[Guest]

Quote

However, the focus of SWELL is not actually on XRP but on ILP!!!

Ok, so what do you expect the value of xrp be today if no one is using it for 2-3 more years? Agree or disagree but honestly, this is how some folks view the situation. 

[tulo]

I think ILP is much more innovative and powerful than XRP and it really has huge potential.

Unfortunately I see XRP only as one of the many possible decentralized crypto that can operate in ILP. It surely has big advantage over others (speed and cost), but yet real decentralization and TPS were not confirmed/tested properly. I think more crypto will join in the future with better properties than XRP as bridge currency. But I might be very wrong.

[prkzingis]

13. Oct - Ripple Rolls Out $300M RippleNet Accelerator Program to Grow Volume and XRP Utility

16. Oct - Five hours of private meetings
17. Oct - Five hours of private meetings
18. Oct - Five hours of private meetings

They don't talk about climate changes on those meetings  This RippleNet Accelerator Program is real big guys, I'm telling you!!!
Nothing happens overnight, just be patient if you belive in this project. And If you don't, just sell everything you have and invest in something you belive in.

[GiddyUp]

And let's not forget that 4,000 MORE people wanted to get into this event than were able to...

Edited October 18, 2017 by GiddyUp

[prkzingis]

1 minute ago, GiddyUp said:

And let's not forget that 4,000 MORE people wanted to get into this event than were able to...

But are there also regular people like us, or only bank members etc?