Guest Vinnie

What are your views on XRP?

341 posts in this topic

Hi folks. For those who don't know, I work on rippled. I've been heads down for a while. And you know, when you work at the company you get a different view of XRP and the markets. What I would like to ask everyone here, is what do you think the outside perception of XRP is? Who do you think is the target audience? What do you think is the future of XRP? What do you think of the current price/volume? What factors would affect its movement in either direction? I'm curious to hear people's opinions!

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Hi @Vinnie, great to read you are interested in our opinion.

Outside perception
- except from a few people around me (mostly BTC early investors), my family and friends are the only ones that know the name...but they're not sure what it's gonna change in their daily routine yet

Target audience
- everyone I know that travels and are fedup with transactions fees when you exchange local currencies to yours and back..especially credit card fees on top of exchange fees, etc.
- migrant workers sending money back to their family
- independence creators,  producers and freelancers (apps, movie, photo) that setup shopping cart to sell their creations worldwide

Future of XRP
- the oil that keeps the machine going...the idea to exchange any currencies to any other is on top of my like list about this project

Current price/volume
I've been a part (some time full) time trader for many many years..and still is. Something's wrong about price/volume and many of us think Ripple has something to do with it...some plan. That could be a long term "good" strategy, but I don't think so because competition has been passing you and eventually, you might end up like the Beta/VHS story. Beta was far better techs, but everyone adopted the VHS so Beta became a pro-producer niche...that's all. 
- your Market Maker plan has to kick-in "now" and be felt with volume increase
- price has to reach .01 US asap and stay there for a while
- gap in price in the most used gateways must be tighter (volume should resolve this problem)
- increment by 1/zillions of a fraction has to stop (bot mostly) cause it's killing any human chance of putting a decent order (I think you're already working on something like that)
- every pairs should be listed/shown on Ripple Charts "but" with a warning when they are from untrusted source (GCB is a good example)
- Ripple might have to put a buy back XRP program to get rid of major fluctuations like that BTC influence that is killing us now

Movement
To ad from the comments above, anyone with a bit of trading knowledge can see that the historic chart and volume doesn't show any pattern change. To get that, XRP needs to move up one stair "and stay there". We're at 0.006 now, let's try .008 for a month no matter what the price of BTC is. To do that, you have enough comments above to give you ideas. If the chart patterns doesn't change this year, many of the early adopters will just get rid of what they have and go for another crypto (remember that Beta/VHS I was talking about). NOW is the time...everyone here has been very patient and we all love the tech...time to move up now!

Thanks for taking the time.
 

 

 

Edited by Malloy

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This kind of questions when coming from the company puzzles me. 
It even looks like there never was a XRP strategy at all and that you came to the conclusion that it might be an interesting asset for financing activities.
So we'll put the question to some public investors in what way you can get it going forward....

If the executive board of a public company is asking such questions to their investors I bet that they get fired instantly ....

Edited by kanaas

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Just now, yxxyun said:

Amendments/new features enabled too slow. Try to make things happen faster. 

Rushing development increases the chances of a bug making it to production rippled instances, which could put the ledger in jeopardy. Code changes take time because we are thorough in making sure the code works correctly, has more than enough test coverage, and gets plenty of testing. So I wouldn't expect things to change on that front. If you look at rippled's track record, its pretty amazing. There hasn't been a fork or major incident. And there hasn't been any exploit or tom foolery. Fingers crossed on that one.

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Just now, Vinnie said:

Rushing development increases the chances of a bug making it to production rippled instances, which could put the ledger in jeopardy. Code changes take time because we are thorough in making sure the code works correctly, has more than enough test coverage, and gets plenty of testing. So I wouldn't expect things to change on that front. If you look at rippled's track record, its pretty amazing. There hasn't been a fork or major incident. And there hasn't been any exploit or tom foolery. Fingers crossed on that one.

Liquidity, liquidity, liquidity.... that's what you need ASAP. Wasn't there announced an incentive plan for MM's? Is it already burried?

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2 minutes ago, kanaas said:

This kind of questions when coming from the company puzzles me. 
It even looks like there never was a XRP strategy at all and that you came to the conclusion that it might be an interesting asset for financing activities.
...
If the executive board of a public company is asking such questions to their investors I bet that they get fired instantly ....

I am not "the company", my opinions are my own. Of course there is an XRP strategy but I'm asking for an outside view - one that is obviously not possible for me to glean from within the company. And bitcointalk.org has pretty much gone to crap with Blockstream sycophants censoring posts and topics, so there's no way get any unbiased perspective there.

There shouldn't be anything wrong in having a discussion and you shouldn't shame someone for starting one.

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As a bridge currency XRP is great. With ILP the ability for XRP to be within 1-2 hops of any other ledger's currency (including existing bank ledgers) is improved.

If RCL disrupts correspondent banking methods, banks will become more comfortable using the tech, and a domestic solution should be on the horizon.

Other than folks I connect with online, nobody in the "real world" has a clue what is going on with distributed ledger tech. If you say, XRP, they think you mispronounced something. & Ripple is a Grateful Dead song.

 

Edited by KarmaCoverage

Malloy and Thorhamma like this

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3 minutes ago, kanaas said:

Wasn't there announced an incentive plan for MM's? Is it already burried?

I wasn't asking about the company's announcements (obviously, I already know those) - I'm asking about outside perception.

Although in a way you inadvertantly have answered that question, are you saying that you expect the incentive plan to be "buried?" Why do you think that plan would be canceled?
 

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Outside Perception

Besides people interested in cryptomarkets, and maybe treasury departments at institutional levels, there is none. The few financial advisors / financial planners I know are small time (less than $20M AUM) and they only have heard about BTC. They put BTC at the absolute lowest ranking, right under precious metals which they have ZERO respect for.

Target Audience

I believe Ripples target audience is large banks and Financial Institutions.

I think the target audience should be the Amazons/Alibabas of the world first then other retailers (large and small) as well as small banks and credit unions. Many of the small banks /CU’s have to have accounts with large banks or custodian banks in order to process international wires and/or handle their uninvested cash balances overnight (sweep to STIF, EuroDollar, Repo, etc.). Big opportunity to steal these customers away from the big FIs if they won’t hop on board themselves. Many of these small banks have their own in-house investment management teams, if you look at them individually they are piss-ants but if you were to combine them nationally you would have a big pot.

Future

I am hoping we are looking at a USD or SDR type of vehicle, but what do I know.

Current Price /Volume

Based on global  awareness of XRP/ Ripple,  I think we are right were we should expect to be, I wish we were higher on both fronts but I believe that will come.

stevedev, Malloy and Byrd like this

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