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On 12/16/2018 at 12:30 PM, Tinyaccount said:

Um I think this is perhaps an over enthusiastic leap of faith.  

I believe NPP uses OSKO and neither Stellar nor XRP have anything to do with it. 

The open banking initiative is a broad adoption of data sharing to allow programmatic comparators and offers to benefit the consumer.  

Nothing related to XRP here as far as I can see.  

This makes sense.

From memory, one of the other 'Big 4' banks in Australia - Westpac - were fairly early adopters of xCurrent.

In addition, they also started offering Osko payments a few months ago. 

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Posted (edited)

I beleive NPP is an API which allows different payments and ripple products Xcurrnet Xrapid is an option with the major banks... but i found this https://australianfintech.com.au/westpac-says-rba-issued-digital-currency-would-boost-blockchain/  frustrating  re: comment as it seems he doesnt understand how it works or this is written wrong >>>

statement 1:

 “We would not want to use a cryptocurrency in real life as there is too much  volatile risk. We want something backed by reserve banks,” he said.

XRP is cleared in seconds what risk?

statement 2:

"XRapid removed the need for so-called “nostro accounts”, which have traditionally provided the liquidity for cross-border payments and refer to local bank accounts which banks hold all over the world. But this process ties up precious capital."

And it seems they want to remove the need for xrp using there own digital currency and only hold a fraction in nostro accounts , This comment confused me as i havent heard someone saying this before i thought XRP was all GREEN for good, whats this thing about precise capital?  Is this bad news for Xrapid?

 

 

PS: osko is different to payid in anz, and i can confirm with payid when sending funds to an aussie crypto exchange e.g coinspot its basically instant

Edited by btemtd

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no, they even clearly state the test use. look :

 

" The project was designed to help banks unlock liquidity and reduce the costs of international banking. Using Ripple’s distributed ledger, the dozen banks converted domestic currency into XRP and sent this across Ripple’s network in seconds, before a bank at the receiving end transferred the XRP into their own currency. This removed the need for so-called “nostro accounts”, which have traditionally provided the liquidity for cross-border payments and refer to local bank accounts which banks hold all over the world. But this process ties up precious capital."

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yeh you did say its from 2016 and xrp wasnt used right? did you see the article cause xrp was used not sure if its 2016

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4 hours ago, btemtd said:

yeh you did say its from 2016 and xrp wasnt used right? did you see the article cause xrp was used not sure if its 2016

Yes it’s a 2016 article.    It’s not the same model as XRapid at all.  They don’t use an exchange to trade into fiat.  It’s from before xrapid was available.

If you look at the page it has a link at the bottom..,  that goes to an identical worded article from 2016.

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5 hours ago, btemtd said:

yeh you did say its from 2016 and xrp wasnt used right? did you see the article cause xrp was used not sure if its 2016

No I didn’t say XRP wasn’t used.   I said I wasn’t xrapid.  It clearly states they use xrp in the test.

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ok so xrapid is better? i feel like the more im supposed to be understanding how this al works the worse im understanding it , i mean 2 years ago there was " supposedly an option to make payments better? Its like saying here is a pen that never runs out of ink and i start using it and it works and for some reason i decide to use the old pen ahin and everytime it runs out i swap it. Why am i not seeing this , its so frustrating to me . isnt it as easy as saying ok lets all do this and see apl save this much and our clients will be so much happier and WAIT there more... lets have another account held in a Holdr acc which we all know its gong up f al of us start using the xrp method.

 

Can Someone  seriously slap my dumbness out and explain why i cannot see where the issue is lying. okok SEC said its not security right? so thats done and dealt with? what am i missing sorry im a pain  

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7 minutes ago, btemtd said:

explain why i cannot see where the issue is lying.

Please forgive me but I can’t understand what you are asking....  what exactly would you like to ask?

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sorry im frustrated withmyself also....  what is stopping banks from choosing something that is better faster and cheaper? also in 2016 they used xrp with r3 why didnt they atleast comntinue ising it if its again ( cheaper and faster) my mind works in an a or b fashion. If A works better use it... maybe im retarted but ,help me explain why if banks have see this since 2016 and now ther even a more documented product they havent jumped on in the masses. and lets say 500 banks decide to use xrapid. can you explain how this will drive the price.... Since the banks use private txs.. couldnt 2 banks decide on choosing the pprice of the XRP for each transaction so they dont have to hold much.. e.g if they hold 20k xrp each and both banks say for thi next 20milion dollar tx we are going to choose 1 unit of xrp = 20k meaning to transfer the 20million all they need to do is send one bank 50 xrpthen convert it to the currency when it arrives.. and then just keep doing this for every tx. sorry for this maybe im confusing you.... do you get what i mean? why cant they just make up the price of xrp for the base of transacting with one another .. bare with me i have slept for a 2 days i think im loosing it lol

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Ah ok..  a few questions in there.  All of them are thrashed out endlessly here and elsewhere so I will just be brief...

39 minutes ago, btemtd said:

what is stopping banks from choosing something that is better faster

Lack of regulatory certainty.  It’s is coming but slowly.

39 minutes ago, btemtd said:

they used xrp with r3 why didnt they atleast comntinue ising it

Same reason.  Also back then there was not a mature product line in either R3 or Ripple to incorporate xrp into enterprise level usage.

39 minutes ago, btemtd said:

lets say 500 banks decide to use xrapid. can you explain how this will drive the price

Generally with usage of an asset comes price appreciation.  Volume generally brings more interest and higher prices.  There are other theoretical reasons price will rise but the reliable and most certain one is the volume.

39 minutes ago, btemtd said:

couldnt 2 banks decide on choosing the pprice of the XRP for each transaction so they dont have to hold much

If they can agree on that then they could also just exchange emails instead. No xrp required.   It wouldn’t help them move funds into other banks and markets though.  Also if one is sending more than the other then eventually they have to rebalance the books... how do they do that?  They can’t use the imaginary priced xrp because to move value across borders you need an asset that has a value across other assets...  imaginary priced xrp doesnt.

 

 

39 minutes ago, btemtd said:

bare with me i have slept for a 2 days i think im loosing it lol

All of this has been discussed many times here.  I suggest you get a good sleep, eat some healthy food and rest for a bit...  then have a read of this:    https://fudbingo.com/

I hope you feel better soon.

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Posted (edited)

SORRY for grammar and missspelling im tired and im trying to rush my thoughts before i sleep...

 

thanks for that response , I have been seeing so much information i literally forgot how xrapid works in a technical bbank level..... Ok so every month 1 billion is release and i heard somewhere 700million isnt used, so does thate get locked back up again foe the next month? ANd im guessing the reason its so much is cause xrapid isnt turned on in many places which is why most escrow isnt used... I HOPE its locked again but im not sure

 

The email thing is a good point , x-border is so simple in the form of an email lol but when u say otherr markets you mean like uasages something other than currency?

 

 Isnt regulatory now clear and XRP officially isnt a SEC and is considered a currency? If you look at what a SEC is it neeeds to have in 4 distinct functions that deems it a sec even if one is not forfilled it automatically makes itnon-sec this is as per a SEC spokesman and he also said it definitely is a currenchy in his eyes

In your view why do you think this brilliant thing which is something that is talked about by my corporations than any other coin acting almost like a stable coin.. yet bnb which has ess funtions is growing faster and much younger i mean xrp is literally fluctuating by few basis points  for  the last few months if not more

 

In terms of reg and xrapid, i thought the us is using xrapd to mexico which is why this is so baffling. If your a company that is alllowd to use it by law  and know its going to benefit you EVERY way including all single parties and best of ALL inlcuding your pockets what on earth i happening? DId al the bankers suddenly become non materialistic and forgot why they exist (profit). The entire WORLD can see SBI , ripple, all succesful tests an now r3 like really, by now the world ,must realise this is the actual solution defationary disater money its better  than interest accounts even , faster and smarter.

You know what I started to think of.. the reason why there is hesitation is because the founders will become trillionairs upon the success and adoption of XRP doesnt larsen, Swartz, BG, britto hold billions ?????? and shouldnt  ALL the XRP be  distributed or used for the good of the greater company and not individuals who infact created the coin then gave themselves some..I keep rmembering at the days of BTC and altcoins when someone pre-mined it was deemed DEAD from day 1 .. premined meaning the founders had an advantage... Is that putting doubt in people adopting

 

PS: 90% of my  hold are XRP i love XRP but i want to clear out any thoughts in my head and that way when someone asks i can then respond back t4o them... as of now if someone mentioned the pre-mine idea which is similar i wouldnt know how to say to them that its fair for the founders tohave the most xrp for the own pokcets

Edited by btemtd

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Posted (edited)
1 hour ago, btemtd said:

PS: 90% of my  hold are XRP i love XRP but i want to clear out any thoughts in my head and that way when someone asks i can then respond back t4o them... as of now if someone mentioned the pre-mine idea which is similar i wouldnt know how to say to them that its fair for the founders tohave the most xrp for the own pokcets

I hope I'm not being too forward in suggesting that this might be giving you trouble. Have you ever heard the saying, "Don't throw your pearls to pigs"? You might feel a whole lot better if you quietly hold your investment in XRP and didn't try to convince others of its merits. You will likely not change the mind of anybody anyway. Continuing to research your investment, continuing to research XRP is not a bad idea, but I think you might find it helpful to your own well being to do it quietly and only for yourself. I find it much less stressful to not have to defend my speculative investments. If someone asks you, if you do want to say anything at all you could just point them to the XRP chat or the XRP Blog. https://xrpcommunity.blog

Best of luck to you, and hold tight!

Edited by VanGogh

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