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Good Business Model For Accepting Ripple Only


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There probably aren't too many economies that only apply to ripple without applying to other things as well. The one thing that Ripple attempts to do is create a sort of bridge between the cryptocurrency and fiat world, granted its a very tough problem to solve. A lot of industries were this is going to apply will be large banking and financial services. So perhaps you could figure out something in that niche, but that is a difficult one to enter without some capital and/or infrastructure in place. You could always attempt to innovate as well.

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2 hours ago, RippleIsTheFuture said:

I've been thinking about starting a joint venture with a few others. We have some pretty good ideas revolving essentially what you were implying bud. Just wanted to hear some ideas on this forum. Have a good evening/day.

I've been contemplating how I could accept XRP/crypto on my store, bearing in mind volatility. Steam backed away from accepting btc as we know because of the large swings.

I came up with a 'buffer' model whereby customer is refunded xrp if the cost of the token rises by a certain amount after a certain timeframe. Am being purposely vague with those two factors.

Merchant would sell their received xrp immediately to protect them from a drop in the value of the token - perhaps less the potential exposure of having to refund the customer.  Margin has to be decent of course.

Do you think the buffer provides sufficient comfort to a customer who is perhaps reticent to spend a potentially appreciating token?

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2 hours ago, AlbertStroller said:

I've been contemplating how I could accept XRP/crypto on my store, bearing in mind volatility. Steam backed away from accepting btc as we know because of the large swings.

I came up with a 'buffer' model whereby customer is refunded xrp if the cost of the token rises by a certain amount after a certain timeframe. Am being purposely vague with those two factors.

Merchant would sell their received xrp immediately to protect them from a drop in the value of the token - perhaps less the potential exposure of having to refund the customer.  Margin has to be decent of course.

Do you think the buffer provides sufficient comfort to a customer who is perhaps reticent to spend a potentially appreciating token?

Customers will be happy to spend their tokens at market rate. With crypto you need to be more worried about supply side being effected by negative price action. Not so much the customer being disgruntled because the price went up after they paid you. 

You’re assuming the market believes that XRP value is going to increase so they won’t spend it. I believe that. Maybe you do to. But for a small purchase it doesn’t matter. And more to the point, you must consider that market price is a reflection of supply and demand; demand that’s based on all information future and current. So if market believes that price will be higher tomorrow the price will become that price (or close to it). 

The issue with Steam was that BTC fees were too high and the transfer took so long that the price fluctuated before they could receive and sell it. All things that don’t happen with XRP. You should keep this in mind :)

Best of luck my friend! Your success is our success!

Edited by Atomic1221
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20 hours ago, Atomic1221 said:

Customers will be happy to spend their tokens at market rate. With crypto you need to be more worried about supply side being effected by negative price action. Not so much the customer being disgruntled because the price went up after they paid you. 

You’re assuming the market believes that XRP value is going to increase so they won’t spend it. I believe that. Maybe you do to. But for a small purchase it doesn’t matter. And more to the point, you must consider that market price is a reflection of supply and demand; demand that’s based on all information future and current. So if market believes that price will be higher tomorrow the price will become that price (or close to it). 

The issue with Steam was that BTC fees were too high and the transfer took so long that the price fluctuated before they could receive and sell it. All things that don’t happen with XRP. You should keep this in mind :)

Best of luck my friend! Your success is our success!

Hey bud. You got any social media accounts or skype? I'd really like to talk with you more. Thanks

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