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It's Happening? The Zerpening!


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2 minutes ago, Zerpinator said:

They the time it hits 10 your money that your saving will of made a lot of money if invested in zerps... no brainer... haha

You think the money will be on the bank directly to buy ticket for the air plane and hotel. Its fiat money we are talking about. No brainer ?

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This thread has veered well off topic of Ripples price rise in December. Locked. Feel free to start a new topic, remembering this section is for discussion about Ripple price and trading (not Tet

I am henceforth creating a new term- the zerpening. When a long promised/ expected zerp price raise actually happens.

Warnings have being issued. A reminder that ALL forum members are to be respectful and considerate to each other even if there are disagreements in opinion. Please do not make me post the face of

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2 minutes ago, djdhrubs said:

Just wanted to ask something that's confusing me.

In practical terms, wouldn't large banks and money transfer organisations want to keep the XRP price low so that they can purchase loads of XRP and keep it in their stock? 

Also, this is what someone is expressing on a different forum...what are your thoughts on this?

"If for example Moneygram buys $5m worth of XRP at $2, what will then happen is they have 2.5m XRP, but someone else with 2.5m XRP then decides to dump a load which then brings the price down to $1 then half the value of Moneygramps XRP has been wiped. Unless Ripple will somehow guarantee value in a similar fashion like government bonds but I can't really see that being in any way shape or form viable for a private company."

And also:-

"CEO: Ripple makes sense because shops around the world don't have to hold amounts in different currencies i.e liquidity, they can just hold XRP and convert.
PROBLEM: If I hold £100 and the pound vs dollar rate significantly decreases I still have £100. If I hold £100's worth of XRP and the pound vs ripple rate significantly decreases I will have less than £100. How does he plan to deal with this in a highly volatile market?

He has no answer for that question because no one has asked it."

How do you guys respond to this?

They will use XRP as conduit to transfer funds. It wouldnt matter what the price of XRP is, it will just facilitate the payments.

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4 minutes ago, djdhrubs said:

Just wanted to ask something that's confusing me.

In practical terms, wouldn't large banks and money transfer organisations want to keep the XRP price low so that they can purchase loads of XRP and keep it in their stock? 

Also, this is what someone is expressing on a different forum...what are your thoughts on this?

"If for example Moneygram buys $5m worth of XRP at $2, what will then happen is they have 2.5m XRP, but someone else with 2.5m XRP then decides to dump a load which then brings the price down to $1 then half the value of Moneygramps XRP has been wiped. Unless Ripple will somehow guarantee value in a similar fashion like government bonds but I can't really see that being in any way shape or form viable for a private company."

And also:-

"CEO: Ripple makes sense because shops around the world don't have to hold amounts in different currencies i.e liquidity, they can just hold XRP and convert.
PROBLEM: If I hold £100 and the pound vs dollar rate significantly decreases I still have £100. If I hold £100's worth of XRP and the pound vs ripple rate significantly decreases I will have less than £100. How does he plan to deal with this in a highly volatile market?

He has no answer for that question because no one has asked it."

How do you guys respond to this?

 

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46 minutes ago, djdhrubs said:

Just wanted to ask something that's confusing me.

In practical terms, wouldn't large banks and money transfer organisations want to keep the XRP price low so that they can purchase loads of XRP and keep it in their stock? 

Also, this is what someone is expressing on a different forum...what are your thoughts on this?

"If for example Moneygram buys $5m worth of XRP at $2, what will then happen is they have 2.5m XRP, but someone else with 2.5m XRP then decides to dump a load which then brings the price down to $1 then half the value of Moneygramps XRP has been wiped. Unless Ripple will somehow guarantee value in a similar fashion like government bonds but I can't really see that being in any way shape or form viable for a private company."

And also:-

"CEO: Ripple makes sense because shops around the world don't have to hold amounts in different currencies i.e liquidity, they can just hold XRP and convert.
PROBLEM: If I hold £100 and the pound vs dollar rate significantly decreases I still have £100. If I hold £100's worth of XRP and the pound vs ripple rate significantly decreases I will have less than £100. How does he plan to deal with this in a highly volatile market?

He has no answer for that question because no one has asked it."

How do you guys respond to this?

Hi mate

Welcome to XRPChat. There are a lot of posts about this issue.

In summary,  banks will want the XRP price high as that reduces volatility. Also banks want to buy less zerps not more for their fiat, therefore they want the price high. 

Also when Ripple transactions take seconds the volatility will be marginal but it doesn’t matter as the transaction price is fixed through the ledger.

There are plenty of times Ripple staff have been quoted saying they want XRP high. 

Edited by Chewiecoin
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6 minutes ago, djdhrubs said:

Just wanted to ask something that's confusing me.

In practical terms, wouldn't large banks and money transfer organisations want to keep the XRP price low so that they can purchase loads of XRP and keep it in their stock? 

Also, this is what someone is expressing on a different forum...what are your thoughts on this?

"If for example Moneygram buys $5m worth of XRP at $2, what will then happen is they have 2.5m XRP, but someone else with 2.5m XRP then decides to dump a load which then brings the price down to $1 then half the value of Moneygramps XRP has been wiped. Unless Ripple will somehow guarantee value in a similar fashion like government bonds but I can't really see that being in any way shape or form viable for a private company."

And also:-

"CEO: Ripple makes sense because shops around the world don't have to hold amounts in different currencies i.e liquidity, they can just hold XRP and convert.
PROBLEM: If I hold £100 and the pound vs dollar rate significantly decreases I still have £100. If I hold £100's worth of XRP and the pound vs ripple rate significantly decreases I will have less than £100. How does he plan to deal with this in a highly volatile market?

He has no answer for that question because no one has asked it."

How do you guys respond to this?

FIs hold XRP to facilitate transactions and reduce cost between each others. They are not buying it to speculate like we do. There is strictly no interest for them to sell it on market, their point is using it to make transactions with their cross borders colleagues.

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3 minutes ago, Chewiecoin said:

Hi mate

Welcome to XRPChat. There are a lot of posts about this issue.

in summary banks will want the XRP price high as that reduces volatility. Also banks want to buy less zerps not more for the fiat, therefore they wage the price high. 

Also when Ripple transactions take seconds the volatility will be marginal but it doesn’t matter as the transaction price is fixed through the ledger.

There are plenty of times Ripple staff have been quoted saying they want XRP high. 

How high, c’mon make my day.. how highhhhh

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10 minutes ago, djdhrubs said:

Just wanted to ask something that's confusing me.

In practical terms, wouldn't large banks and money transfer organisations want to keep the XRP price low so that they can purchase loads of XRP and keep it in their stock? 

Also, this is what someone is expressing on a different forum...what are your thoughts on this?

"If for example Moneygram buys $5m worth of XRP at $2, what will then happen is they have 2.5m XRP, but someone else with 2.5m XRP then decides to dump a load which then brings the price down to $1 then half the value of Moneygramps XRP has been wiped. Unless Ripple will somehow guarantee value in a similar fashion like government bonds but I can't really see that being in any way shape or form viable for a private company."

And also:-

"CEO: Ripple makes sense because shops around the world don't have to hold amounts in different currencies i.e liquidity, they can just hold XRP and convert.
PROBLEM: If I hold £100 and the pound vs dollar rate significantly decreases I still have £100. If I hold £100's worth of XRP and the pound vs ripple rate significantly decreases I will have less than £100. How does he plan to deal with this in a highly volatile market?

He has no answer for that question because no one has asked it."

How do you guys respond to this?

Also check out the video on Ripple's website on how it will work. Price of XRP would'nt matter, its  would be Currency to Currency transfer USD to Yen or Vice Versa minus admin Ripple admin fee, which is quite a bit less then the bank charge if you were to do it that way

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OK great thanks for all your replies. As you've probably guess I'm a total noob at this, have invested and made money from XRP so far, and am currently invested in it, and obviously get spooked when people raise questions I don't know the answer to!

 

@ChewiecoinI didn't understand what you said about wanting the price high as this reduces volatility?? Surely the price can be volatile no matter how high it is?

Anyway I'll do some more reading about all this on this forum. Cheers.

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19 minutes ago, djdhrubs said:

 

@ChewiecoinI didn't understand what you said about wanting the price high as this reduces volatility?? Surely the price can be volatile no matter how high it is?

Anyway I'll do some more reading about all this on this forum. Cheers.

@JoelKatz gives a nice example here on why the high price of XRP means lower volatility.

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12 minutes ago, icebreath said:

@JoelKatz gives a nice example here on why the high price of XRP means lower volatility.

@djdhrubs This ^^^

There's no way I can describe it better than @JoelKatz  

Hope this helps understand. 

We were all noobs once. Better to find the answers to FUD here than the the crap they'll feed you in the Twitterati or Reddit. 

Edited by Chewiecoin
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51 minutes ago, djdhrubs said:

Just wanted to ask something that's confusing me.

In practical terms, wouldn't large banks and money transfer organisations want to keep the XRP price low so that they can purchase loads of XRP and keep it in their stock? 

Also, this is what someone is expressing on a different forum...what are your thoughts on this?

"If for example Moneygram buys $5m worth of XRP at $2, what will then happen is they have 2.5m XRP, but someone else with 2.5m XRP then decides to dump a load which then brings the price down to $1 then half the value of Moneygramps XRP has been wiped. Unless Ripple will somehow guarantee value in a similar fashion like government bonds but I can't really see that being in any way shape or form viable for a private company."

And also:-

"CEO: Ripple makes sense because shops around the world don't have to hold amounts in different currencies i.e liquidity, they can just hold XRP and convert.
PROBLEM: If I hold £100 and the pound vs dollar rate significantly decreases I still have £100. If I hold £100's worth of XRP and the pound vs ripple rate significantly decreases I will have less than £100. How does he plan to deal with this in a highly volatile market?

He has no answer for that question because no one has asked it."

How do you guys respond to this?

All that matters is the agreed upon transfer price really. Market price is a small factor.

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