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sven12345

What happened to xRapid will be launching "very soon"

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Posted (edited)

One more thing - in regard to David Schwartz comment earlier today about liquidity being the next hurdle he sees. 

Each trading pair, XRP/USD, XRP/JPY, etc. I would think of as separate watering holes. Right now we are experiencing a drought in all watering holes/liquidity pools. When Xrapid goes live, the remittance companies will begin testing with small transactions with the largest liquidity pools (XRP/JPY, XRP/KRW). They will buy from one liquidity pool and sell in the other. The initial pools they are using will become more efficient, spreads will come down and liquidity will increase. These strong liquidity pools will allow weaker pools that share a strong pair (JPY, KRW), to tip toe into the market. Strength will lead to strength, liquidity will give rise to added liquidity. The dry Sahara will become a rain forest.

Edited by xrpsailor1

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Posted (edited)
20 hours ago, RikkiTikki said:

I really believe that one initiative is to shake loose as much individual stake in XRP as possible so institutional money can swoop in and put it out of reach for the average Joe.  Look at the landscape there is no other Crypto doing what XRP can do right now but the clocks ticking and technology moves in leaps and bounds. 

I share your sentiment here. I too believe that there is a lot going on behind closed doors. IMHO, I think that there is coordination going on between nation-states to come up with a shared set of common-sense regulations to govern this borderless technology. There is an article (Interledger is the New World Bank) written by @JCCollins on his website:  Philosophy of Metrics, where he talks about how the global monetary policymakers and various nation-states [(i.e. Bank for International Settlements (BIS), International Monetary Fund (IMF), G20, BRICS, and the Financial Stability Board (FSB)] have been trying for years to find an alternative "supra-sovereign asset" to replace the US dollar as the global reserve currency.  One that is not "owned or anchored to the domestic economy of any one nation, with enough global liquidity to function as the base, or bridge asset, for the full global framework." I truly believe XRP is at the center of it all. It is also my belief that the reason the SEC has yet to rule whether or not XRP is a security is that these entities are positioning XRP to become this “global reserve currency.” I have stated many times how Ripple is by far the single most called upon fintech company that most, if not all, global financial and State-level entities who control the levers of monetary policy and the repositories of trillions, call upon to help them navigate this ever-changing blockchain evolution (Innovative Payments Infrastructure). No other fintech company has the ear of these financial groups more so than Ripple. Ripple’s Executive Chairman, Chris Larsen, sits on the IMF’s Advisory Group on Fintech and Ryan Zagone (Ripple’s Director of Regulatory Relations) on the US Federal Reserve’s Faster Payments Taskforce Steering Committee, and Marcus Treacher, Ripple’s Global Head of Strategic Accounts, appointed as an Independent Director to the Clearing House Automated Payment System (CHAPS) Board.  Recalibrating the global financial network is not going to happen overnight or outside the system but will germinate from within current infrastructure. This process will require engaging with regulators and policymakers alike. Again, all of this is based purely on my assumptions and what I see happening in this space, I could be wrong!!!

Edited by King34Maine

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Just now, Zerp_Legend said:

Brad and Asheesh definitely making too many promises without any foundation, really disappointed myself

I would be very surprised if measured and calculated Brad made a statement of a bank using XRP by years end without foundation.  I'll offer a possible scenario.  SBI is an early investor and bullish supporter, so let's assume one of the Japan consortium banks intend to use XRP.  But in order for that to happen we need SBI VC to go live and have an active API for xRapid to plug into.  If I'm involved in product development for xRapid it only makes sense to first test xRapid with SBI VC and iron out any issues prior to officially declaring xRapid out of beta with a live user.  I assume Ripple will want to announce a user/s along with the xRapid production announcement.  I think Asheesh is just rolling back expectations.

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Posted (edited)
4 hours ago, RipDip said:

1) Can xrapid even proceed without a concise regulatory framework in place? Could ripple be waiting on the SEC decision just like the rest of us? 

2) If the SEC deems XRP as a security, wouldn't it destroy the xrapid's potential ecosystem by killing the liquidity for xrp?  

1) I personally don’t see how xRapid could directly depend on SEC’s decision. Indirectly it is probable that the strategy was to roll out xRapid together with some major exchange pertnership which would boost the liquidity in a certain corridor. This exchange could be waiting for the SEC’s decision just to play it safe. There is no way to know, we simply don’t know important facts and can only speculate.

2) It would make things harder for Ripple in the short/mid term probably - directly, lowering the liquidity on the US-regulated exchanges and indirectly, e.g. probably affecting the price of XRP in a negative way just because it is “big news”. Good news, SEC does not control the world despite what Americans think, there are other players.

Edited by Lamberth

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8 hours ago, Plikk said:

I don’t call everyone and anyone a fudder. You should pay attention. Only real fudders get my attention to those matters. Look back the OP’s posting history, almost all negativity about XRP or Ripple

What's wrong with being a fudder? Surely, if it helps even one person not getting burned by buying XRP at unrealistically high prices, then it's a good thing?

Indeed the FOMO in January has proved disastrous for many buyers who have now become hodlers by default because their position is under water!

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8 hours ago, sven12345 said:

In Q1 report In Q2 Ripple will look to grow the number of xRapid pilots and work to move existing pilots into production.

If that's an actual quote that you're basing your launch date expectations on, I think I found your problem. That doesn't sound definite at all to me. 

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52 minutes ago, Zerp_Legend said:

Brad and Asheesh definitely making too many promises without any foundation, really disappointed myself

Yeah, I've said it before - people shouldn't take Brad and Asheesh' words too seriously as they have a track record of jumping the gun.

I feel the same with all this 'SBI going live in July' thing. I won't be surprised if this gets postponed and also I find it hard to believe Kitao's words that the exchange will become the biggest one in no time. I'll be more than happy to be proven wrong, obviously.

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We all love xrp here and we can only wait for now . I don’t like the way brad and asheesh communicate but as long as David works there and sbi supports xrp I won’t have any doubts . It is not like other coins are making any progress either 

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When I first got into XRP, we’re talking june 2017,  there were complaints about Ripple not focussing enough on XRP.  

The “ SWELL disappointment” ( no cat out of the bag, customer banks stating “ we don’t need XRP” ,  price plummeting from around €0.30 back to €0.15) was a turning point.  After Swell we saw Ripple changing course and focussing on XRP with the search for other use cases than banks ( “ the low hanging fruit”) and doing everything to promote XRP.

 We got “ spoiled” by the run of 1200% in december, everybody seemed happy, although it’s fair to say that almost every coin had a run those days. Crypto moved and still moves as a whole, ignoring good or bad news from individual coins ( except an occasional rise , and /or fall, of 20/30%).

Ripple is now taking distance from XRP , a fact that is fueled by the security issue I guess. 

One thing I learned after Swell ( and in my job at the bank dealing with IT Scrumteams ) is not to give too much weight to promises or statements regarding “live dates” . Delays are standard, if delivery comes at all. 

Since then I tried to emotionally detach myself from the coins I’m invested in, taking it day by day, looking at the only fact that matters ( the actual market price and movements), assessing every week what news or bold statements can be relevant for future prices, but mainly looking at BTC and the market as a whole. More of a “ I only believe it when I see it” attitude.  No more speculation about becoming a millioniare in 2 months or 5 years.  

At this stage crypto and XRP are highly speculative, there’s no real usage history making FA possible to base investment decisions on. That time may come though ( soon?). 

XRP is still one of my most favorite investments, based on the tech and possible use cases, but I diversified into some other coins and making swing trades now and then to make some profits. 

TL:DR :  I degraded the role that crypto ( yes, mainly XRP) plays in my life from 80% back to a healthier 30% ( which maybe is still too much, but I like rollercoasters!) and taking all “ news “ with many grains of salt, by just looking at the actual facts ( the price and the market).  Still very willing to be surprised one day! 

Is this post adding value for anyone on this forum? I don’t think so. I’m just sharing some thoughts with the community I became to love in the past year, as it’s fun, informative, annoying and surprising all at the same time.

cheers and hodl. 

 

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Posted (edited)
4 hours ago, Bubbles said:

Many talk as if "Ripple" are their friends and are taking these posts personally like "Ripple" is their family. This is a investment, a trade, a tool to make money and that is it! I think many are far too emotionally attached to think objectively.

This delay is not positive.

 

Edited by Vvittin

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Posted (edited)
4 hours ago, Bubbles said:

Many talk as if "Ripple" are their friends and are taking these posts personally like "Ripple" is their family. This is a investment, a trade, a tool to make money and that is it! I think many are far too emotionally attached to think objectively.

This delay is not positive.

 

Edited by Vvittin

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