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Atomic1221

SBI VC Launch with xRapid *ON JUNE 4th 2018* is going to send us to new ATH

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In a fair and neutral market, good news will generally mean increase in XRP. But this is not a fair and neutral market.

Mt.Gox sells Bitcoin and the whole crypto market sh*ts itself. Whats to stop someone with deep pockets from buying a boat load of XRP and quietly manipulating the market with well timed transactions?

Ripple is stepping hard on some very big toes out there, they have deep deep pockets and nothing would please them more for XRP to fail.

The point is, its a tainted market and we shouldn't look at XRP price in the short term as an indicator of success. Success is XRP adoption. That is the indicator we are looking for.

So if SBI launches and price doesn't rocket, no problem. What will get me concerned is if there are no takers for xRapid.

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9 hours ago, Atomic1221 said:

You’re making a few giant assumptions here.

 

First. You buy 1bn XRP while the price is $1, the price will end up cleaning out every single sell order and will drive the price many multiples of $1. 

Second, you’re assuming that in xRapid every single XRP bought/sold, in one currency on exchange A is near instantly then sold/bought again in another currency on exchange B and it keeps pinging back and forth near instantly, ad infinitum. The first part is true, but the last part is absolutely not the case. Demand will drive the first buy/sell transaction and demand will also drive the second sell/buy transaction. Demand on both ends of the equation are rarely matched; although you’re right that buys and sells are matched during each piece of the equation.

Because demand and supply varies on both ends of the currency conversion, increased usage will require more MMs. MMs will hold the digital asset and provide OTC trades that won’t break the market. Additionally XRP must be priced in a way that there’s enough supply going around where it’s needed. Someone needing to send $10bn USD will need approx 30% of circulating supply. And circulating supply is far far greater than what’s actually available for sale.

And finally and most importantly: If you think only 1bn a day will be transacted via xRapid you are very very mistaken. xRapid could be used to settle many trillions a day. Citibank facilitates over $1tn a day intl payments on its own. The market is much larger than you think.

Cart before the horse here Atomic. XRP is trading 200-350 million a day with two xRapid users. Let's watch the volume before these (10 billion dollar transactions and 1 trillion dollar a day needs) are being met by XRP and xRapid.

We will know more in 6 months as more smaller companies start using xRapid.

 

 

 

 

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One thing about SBI VC doesn't make sense to me - we are getting excited about an exchange that has confirmed they won't allow withdrawal or deposit of XRP, only of fiat. When Revolut did that, most of the comments were pretty average, as it was a closed loop system. Why is there so much more excitement about SBI, even though it's also a closed loop system? 

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4 hours ago, Mods_are_tyrants said:

Cart before the horse here Atomic. XRP is trading 200-350 million a day with two xRapid users. Let's watch the volume before these (10 billion dollar transactions and 1 trillion dollar a day needs) are being met by XRP and xRapid.

We will know more in 6 months as more smaller companies start using xRapid.

 

 

 

 

That is 200-350 million a day with 2 SMALL xRapid users *in BETA*...

 

If I'm bringing the horse before the cart, you're definitely bringing the cart before the horse :) 

Edited by Atomic1221

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Guest ripplehodlr

When it goes live, I can see three digits easy.

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10 hours ago, orcablue said:

In a fair and neutral market, good news will generally mean increase in XRP. But this is not a fair and neutral market.

Mt.Gox sells Bitcoin and the whole crypto market sh*ts itself. Whats to stop someone with deep pockets from buying a boat load of XRP and quietly manipulating the market with well timed transactions?

Ripple is stepping hard on some very big toes out there, they have deep deep pockets and nothing would please them more for XRP to fail.

The point is, its a tainted market and we shouldn't look at XRP price in the short term as an indicator of success. Success is XRP adoption. That is the indicator we are looking for.

So if SBI launches and price doesn't rocket, no problem. What will get me concerned is if there are no takers for xRapid.

I agree with this post.

There are some major enemies of Ripple and XRP stalking in the shadows. They’re waiting for the right moment to put a damper on XRP’s growth.

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1 minute ago, ripplehodlr said:

When it goes live, I can see three digits easy.

One could make a hilarious compilation of all of the insane over the top predictions you've made that completely missed the mark.

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9 minutes ago, BelieveInXRP said:

I agree with this post.

There are some major enemies of Ripple and XRP stalking in the shadows. They’re waiting for the right moment to put a damper on XRP’s growth.

Like right now? :) 

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18 hours ago, Atomic1221 said:

If the price doesn’t move after xRapid usage, then what are we here for? I’m not trying to buy a speculative coin otherwise I’d have bought Tron.

I think @JoelKatz said it best. Important notes by him below. Also of importance is the possibility of jevons paradox.

See David Schwartz comments:

"It could create a significant source of additional demand. If xRapid is broadly adopted, that means that a significant number of international payments use XRP as an intermediary asset in the payment.

A lot of companies need to make rapid payments throughout the world. The most dramatic example is Uber. If someone needs a few extra dollars for groceries, Uber wants them to drive for them right then. For that to work, Uber has to be able to get the money to them as soon as they finish driving.

Similar situations clearly apply to companies such as AirBNB and Amazon. But even more traditional companies like Seagate currently stash millions of dollars around the world to permit them to make faster domestic payments rather than slower international ones. You can think of xRapid as converting an international payment into two domestic ones plus a movement of XRP.

So what might companies do in the world where xRapid is widely used?

First, they can buy XRP very cheaply, possibly even below market value. Why? Because they can just wait for somebody to make a payment where they have the currency the payment tries to deliver. They can take the XRP the sender got in exchange for the asset they’re paying with and provide the asset they’re delivering to the recipient. This is precisely what xRapid does, and companies can take advantage of it to buy XRP cheaply.

Second, they can use XRP to make cheap payments. Why? Because if those payments are using xRapid, they can just use the “from XRP” half of the payment and roughly halve their costs. Again, this is precisely what xRapid does.

This only works if they keep a pile of XRP around to match the times when other people need the assets they hold to the times when they need to make an outbound payment. Essentially, instead of keeping many piles of money all over the world to handle their international payments, they could just hold one pile of XRP to convert international payments into domestic ones in all the corridors where there’s sufficient deployment of xRapid.

You might think that due to the system’s efficiency advantage over current schemes, those piles wouldn’t need to be as big. That’s true. But it’s possible that this can cause a Jevons paradox.

A Jevons paradox is a situation where needing less of a good to accomplish some particular result means that people actually want more of that good. For example, an improvement in the efficiency of coal burning power plants that meant that you needed 15% less coal to get the same amount of electricity wouldn’t decrease coal consumption by 15% but instead would likely increase it as people built more coal-burning power plants instead of natural gas because coal would now have a competitive advantage.

The same thing could happen here. If XRP becomes much more efficient for international payments, then companies that currently don’t keep piles of money around the world (because it’s too tedious and inefficient) and instead rely on correspondents for their payments (and possibly make fewer of them as well) would find it cost effective to hold XRP. In other words, as less XRP is needed to make a wider array of payments, more and more organizations would find XRP worth holding." 

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19 hours ago, Atomic1221 said:

Having over half of Japanese banks using xRapid in one fell swoop, will create a hyper FOMO environment that is going to going to super charge the worth of our zerps.

Its also interesting to see that the majority of the trading volume is to JPY at the moment.  Followed by KRW.

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