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goldenmoneyxrp

if Ripple Failed, XRP died?

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IF (just if) Ripple Lab failed, XRP will died right?

IF Ripple Lab success and sustainable, XRP can be alive or died. 

So XRP is very tied to Ripple Lab? And Ripple Lab not really tied towards XRP as more and more RCL do not need XRP as "stamp fee" any more?  Basically what I see is Ripple Lab is now become more like a consultant helping financial institutions to implement RCL like network without actually having to use XRP as a fees, correctly me if I am wrong.

There is also no plan whatsoever from Ripple Lab to encourage the use of XRP as an alternative to Bitcoin for merchandising or other payment. Again, correct me if I am wrong.

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18 minutes ago, goldenmoneyxrp said:

So XRP is very tied to Ripple Lab? And Ripple Lab not really tied towards XRP as more and more RCL do not need XRP as "stamp fee" any more?  Basically what I see is Ripple Lab is now become more like a consultant helping financial institutions to implement RCL like network without actually having to use XRP as a fees, correctly me if I am wrong.

Each transaction on RCL consumes XRP as a fee. You can't avoid this.

Quote

There is also no plan whatsoever from Ripple Lab to encourage the use of XRP as an alternative to Bitcoin for merchandising or other payment. Again, correct me if I am wrong.

RL has a plan which promotes XRP as a vehicle currency for interbank (international) payments. But RL doesn't have a (public) plan which would promote XRP as "an alternative to Bitcoin for merchandising" (BTW, Bitcoin is not used much for buying things/services, Microsoft even stopped accepting Bitcoin because practically nobody used it).

 

 

Edited by T8493

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12 minutes ago, JoelKatz said:

Our XRP strategy is based on promoting it as a bridging currency in an ILP world through various strategies including paying traders an incentive to keep spreads low.

But in the ILP world, how can we become the market maker for USD.bankledger/XRP.RCL ? 

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1 hour ago, JoelKatz said:

Our XRP strategy is based on promoting it as a bridging currency in an ILP world through various strategies including paying traders an incentive to keep spreads low.

So the XRP incentive will not release until RCL is ILP enabled?

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21 hours ago, JoelKatz said:

We cannot do everything, so we have to pick those things that we think we are in the best position to do and that have the best chance at success.

If any private entity can solve the legal-liquidity-chicken-egg problem that pragmatism is a must. Two thumbs up from the peanut gallery. :good::good:

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On Friday, June 03, 2016 at 8:03 AM, JoelKatz said:

We do not plan to encourage use of XRP as an alternative to Biticoin or as a direct payment method at this time

I've always wondered if Ripple actively discourages it for reasons of avoiding a conflict with existing crypto interests that have already bet heavily on BTC, and this post confirms part of that thought. 

Good strategy. 

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We cannot practically use Bitcoin for direct payments in Japan due to 8% consumption tax for the transfer.
We also have to pay the tax to buy BTC.

We can trade it in the other counties.
But how can we deposit and withdraw money?
By Ripple Connect?
Then, I'll choose XRP.

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I think Ripple realizes very well the economic potential of being the primary supplier of licenses to software and services to access and use the new Internet of Value.

(hint: Oracle database: 162 billion market cap. Oracle will be Ripple's little assistant if things work out.)

I think that's their real target, to which all other targets (including the well-being of XRP) are subjective.

So, truth is, I think, that Ripple only cares about what XRP does, as long as the real target is still in perfect sight. I think they're doing a pretty job there. But of course we all know that Ripple succeeding, would blow up XRP, and I can't see any way of Ripple succeeding and their own blockchain not. They are married with each other and they love each other. The are chained to each other.

Loving something is the best way to sell it at a good price :)

Edited by lucky

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On 6/3/2016 at 1:28 AM, yxxyun said:

But in the ILP world, how can we become the market maker for USD.bankledger/XRP.RCL ? 

The easiest way would be for you to post offers at an ILP-enabled exchange. A more complex method would be for you to offer your services directly to agents looking for ILP paths. If ILP was successful, it's hard to imagine that existing exchanges that support XRP wouldn't add ILP paths for fiat input and output.

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I've changed opinion on what their "real" target is, since i wrote that post on June 4. What changed my mind is reading this:

http://www.bloomberg.com/news/articles/2013-04-11/introducing-ripple-a-bitcoin-copycat

And I got struck by how incredibly valuable that original ambition still is:

Quote

a potentially world-changing concept—a virtual global currency, backed not by central governments but by the animating notions behind the Internet itself

I think that is, or at least should be, still the #1 target, to which all other targets are subjective.

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