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2ndtimearound

On 15th May, Everything Changes

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23 minutes ago, johnlogan said:

XRP execs have stated time and time again that they don’t care about the value of the coin. Their laser focus is ONLY to solve real problems.

In the short-term, XRP's price is almost completely irrelevant to Ripple's goals.  In the longer term, XRP's price will need to (and will) scale up as Ripple's client volume scales up.  In a sense, XRP's price is commensurate to Ripple's level of success. 

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3 hours ago, 2ndtimearound said:

In the short-term, XRP's price is almost completely irrelevant to Ripple's goals.  In the longer term, XRP's price will need to (and will) scale up as Ripple's client volume scales up.  In a sense, XRP's price is commensurate to Ripple's level of success. 

Why? Does it have to scale very much to handle much of the non bank crossborder volume? Total non banking crossborder volume in dollars is under 1 Trillion a year.

Xrp could handle 25% of the worlds non banking crossborder payments with the avg daily volume of the last 90 days.

Which is lofty since it has luke .001% of it. If that.

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1 hour ago, Mods_are_tyrants said:

Why? Does it have to scale very much to handle much of the non bank crossborder volume? Total non banking crossborder volume in dollars is under 1 Trillion a year.

 

Source? 

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40 minutes ago, xrp-pat said:

Source? 

Look up BIS data for non banking cross border payments. McKinsey also did a study in 2014 and had non banking cross border payments I want to say 400 billion or so then.

Ill post a link later at work currently.

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2 hours ago, Mods_are_tyrants said:

Why? Does it have to scale very much to handle much of the non bank crossborder volume? Total non banking crossborder volume in dollars is under 1 Trillion a year.

Xrp could handle 25% of the worlds non banking crossborder payments with the avg daily volume of the last 90 days.

Which is lofty since it has luke .001% of it. If that.

 

Moneygram alone will increase XRP's volume by up to $2bn extra a day.  XRP's current volume is about $500M.  Increased volume will see XRP's price rise. 

It was you who said "why would people use xRapid when Litecoin did a transfer (within the Litecoin network only!) for $99M and it cost 40 cents".  Yeah, that bit about being in the Litecoin network only....XRP often does billion dollar plus transfers within the XRP ledger.

 

Edited by 2ndtimearound

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9 minutes ago, Mods_are_tyrants said:

Look up BIS data for non banking cross border payments. McKinsey also did a study in 2014 and had non banking cross border payments I want to say 400 billion or so then.

Ill post a link later at work currently.

I think you're referring to remittances. The smallest and easiest piece of the payment pie:

https://www.bis.org/cpmi/publ/d173.pdf

Page 3, footnote 4.

Cross border payments, excluding between banks:

https://www.mckinsey.com/~/media/McKinsey/Industries/Financial Services/Our Insights/Rethinking correspondent banking/Rethinking-correspondent-banking.ashx

Exhibit 1. 

And why exactly are you excluding banks? They're slow rent-seekers, yes. But even banks can smell the xRapid-infused profits. All those McKinsey reports provide ample reason for FI's to lower cost for payments.

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50 minutes ago, Benchmark said:

I think you're referring to remittances. The smallest and easiest piece of the payment pie:

https://www.bis.org/cpmi/publ/d173.pdf

Page 3, footnote 4.

Cross border payments, excluding between banks:

https://www.mckinsey.com/~/media/McKinsey/Industries/Financial Services/Our Insights/Rethinking correspondent banking/Rethinking-correspondent-banking.ashx

Exhibit 1. 

And why exactly are you excluding banks? They're slow rent-seekers, yes. But even banks can smell the xRapid-infused profits. All those McKinsey reports provide ample reason for FI's to lower cost for payments.

For all of the arguments of what banks should do how many are using xRapid?

I use non banking dollars because that is what Ripple is focusing on. WU and MG are not any closer to converting fully to xRapid then they were before. In the quarterly no mention was made of increasing usage just that things were going smoothly.

How one goes from that to doing Trillions seems far reaching, but I hope ripple and xrp usage gets there a very very long way to go.

 

Edited by Mods_are_tyrants

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2 minutes ago, Mods_are_tyrants said:

For all of the arguments of what banks should do how many are using xRapid?

Many answers to that. 

NDA'S.

Rippled has only just come out beta. 

Xrapid is still early access request only. 

We are still at an early stage of ripplenet. 

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