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mm34505

SBI VC General application process will start. July 18th 2018

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2 minutes ago, mm34505 said:

As we witnessed the initial wave of SBIVC June 4th 2018 to a group of pre-registered investors "est. 20,000" The general public will now be able to submit their applications starting July 18th 2018. 

 

http://news.nicovideo.jp/watch/nw3567078

I'm not sure that is specifically related to 18th July, but more a general time in July 2018.I don't think they have actually given a date in July, and yes I had to read it more than once earlier, just to be sure

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Just now, mistatee2000 said:

I'm not sure that is specifically related to 18th July, but more a general time in July 2018.I don't think they have actually given a date in July, and yes I had to read it more than once earlier, just to be sure

Application for general account opening will be accepted from July 18.

 

So the regular fol can start signin up on the 18th then wait for there post card to come in the mail and they get verified and all that good stuff.  So we should start to see steady growth in August from new SBi users...think about 4 million 

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1 minute ago, mm34505 said:

Application for general account opening will be accepted from July 18.

 

So the regular fol can start signin up on the 18th then wait for there post card to come in the mail and they get verified and all that good stuff.  So we should start to see steady growth in August from new SBi users...think about 4 million 

It's not clear. I half buy what you say, but they also mention February 18 in the same way. 

Quote

However, in February 18, the start time was postponed as "to take a certain amount of time" to strengthen security measures and customer management posture.

 

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4 minutes ago, mistatee2000 said:

It's not clear. I half buy what you say, but they also mention February 18 in the same way. 

 

I do believe Feb 18th was the initial start date and this is when we found out they would be delaying the launch until now

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25 minutes ago, mm34505 said:

I do believe Feb 18th was the initial start date and this is when we found out they would be delaying the launch until now

OK, I'm not too hung up on the precise day as I don't live in Japan. July is good for me

 

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So currently SBI VC is open to 20k users and sometime next month or perhaps August it will service an estimated 4 MM users?  

Edited by aavkk
estimated?

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@aavkk Some speculate that daily volumes has increased by about $80-100m since launch.  This is about $4-5k on average.

Based on estimated 4m new customers at $3-4k each, this would translate to almost $12-16b avg daily volumes based on simple comparison.  

The market cap of tradeable XRP is about $30b with only about $5b in weak hands and actively traded.

Hmmm, this would be quite eventful to watch as $10b+ in daily volume is chasing about $5b in active weak/non-hodl hands ... moon baby ... let’s hit $1 by end Jun, $10 by end Aug before $589 by end of 2019/2020 ...

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@bookworm It will be really interesting if the market continues to trade sideways AFTER SBI VC's full launch and we see even close to the volumes you just mentioned.  That would give us a pretty good indicator of non speculative value on XRP with X amount of volume.  Of course, it wouldn't take long for a flood of speculative money to rush in once SBI VC's volume results in a price spike of XRP.  

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@bookworm

the number of 4millions is wrong, in fact it is 8.5 millions as the customer base is SBI Securities (about 4.26 million accounts), Shumishin SBI Net Bank (about 3.21 million accounts), SBI Liquidity Market (about 1,050,000 accounts)

 

But you cannot considere 100% users will trade cryptos, we can expected not anyone is a trader. so you can considere 8.5m * xx% pool. (and with 50% you said right)

 

i said it, i said nothing....

Edited by mike13

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I think SBI will give us an explosive breakout and a stable base to cool down some of this volatility and then we will see steady but momentous and aggressive growth shortly thereafter once other various financial giants go into full production. I could see SBI taking us to $10 and that will just be the spark that ignites the fire. Slowly the internet of value will be realized before we know it. 

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I can't see SBI being that significant to bring XRP to a $10 value. We can already see significant volume in Japan and we know that OTC purchases have been strong there for a very long time. I believe that most people who wanted to buy XRP would've already done so by the time SBI goes live. I expect a pump around the time SBI opens and the price to drop back to a bit higher than it originally was when that happens.

If the SBI banks start using xRapid via the new exchange... That would be a different story and I'd expect price to go higher as a result of actual volume. But I don't expect that to happen immediately after the launch.

Edited by bm32533476

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1 hour ago, bm32533476 said:

If the SBI banks start using xRapid via the new exchange... That would be a different story and I'd expect price to go higher as a result of actual volume. But I don't expect that to happen immediately after the launch.

There are reasons to believe that it was ordinary people investing and loosing in the last hype.  And big whales winning, of course. Think we have to wait for big investors and banks this time. Hope I am wrong..

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