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idnotbe

doubt about XRP

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i searched a little bit.
but still cannot understand the promising future of XRP.
and found many ppl doubt XRP with the same reason as me.

can someone enlighten me?

what i know are

- xRapid uses XRP
- when XRP is used in international money transfer, the amount of the transferred XRP disappears.
- Ripple company puts some amount of XRP in escrow, not to be traded in the exchanges


i wonder...

1. considering XRP should treat big amount of money transferred between countries, why does Ripple company design to eliminate XPR transferred from a country to the other?
it seems better to maintain large amount of XRP (rather eliminating them) and provide enough XRP to replace the current SWIFT market.

2. from the existing banks' perspective, the price volatility of XRP is quite high.
so if XRP price goes up, Ripple company may unlock some amount of XRP in escrow and let it be circulated in the exchanges.
assuming this mechanism to maintain the XRP price in some range, why do you expect that XRP price goes up?

3. let's assume a happy scenario that many ppl or banks use xRapid and the total amount of XPR is diminishing fast.
then, i think Ripple company has only one choice - making more XRP to enjoy more fee from transferring.
but that is a bad news for the ppl who possess XRP.
what do you think about this scenario?

4. some of the other blockchains such as EOS do not need to pay the fee when transferring the coins.
why do banks and ppls should use XRP rather than the other way such as EOS?

5. many XRP fans say, if XRP replaces 1% of the current SWIFT market, the XPR market cap will be xxx, thus XRP price xxx. 
but it seems very weird, because the amount of SWIFT market is "movement" of the money, while XRP market is total "market cap".
moreover, transferring more money via XRP does not directly mean increasing XRP price.
then, why do the ppl think possessing XRP is promising?

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12 minutes ago, idnotbe said:

i searched a little bit.
but still cannot understand the promising future of XRP.
and found many ppl doubt XRP with the same reason as me.

can someone enlighten me?

what i know are

- xRapid uses XRP
- when XRP is used in international money transfer, the amount of the transferred XRP disappears.
- Ripple company puts some amount of XRP in escrow, not to be traded in the exchanges


i wonder...

1. considering XRP should treat big amount of money transferred between countries, why does Ripple company design to eliminate XPR transferred from a country to the other?
it seems better to maintain large amount of XRP (rather eliminating them) and provide enough XRP to replace the current SWIFT market.

2. from the existing banks' perspective, the price volatility of XRP is quite high.
so if XRP price goes up, Ripple company may unlock some amount of XRP in escrow and let it be circulated in the exchanges.
assuming this mechanism to maintain the XRP price in some range, why do you expect that XRP price goes up?

3. let's assume a happy scenario that many ppl or banks use xRapid and the total amount of XPR is diminishing fast.
then, i think Ripple company has only one choice - making more XRP to enjoy more fee from transferring.
but that is a bad news for the ppl who possess XRP.
what do you think about this scenario?

4. some of the other blockchains such as EOS do not need to pay the fee when transferring the coins.
why do banks and ppls should use XRP rather than the other way such as EOS?

5. many XRP fans say, if XRP replaces 1% of the current SWIFT market, the XPR market cap will be xxx, thus XRP price xxx. 
but it seems very weird, because the amount of SWIFT market is "movement" of the money, while XRP market is total "market cap".
moreover, transferring more money via XRP does not directly mean increasing XRP price.
then, why do the ppl think possessing XRP is promising?

Before someone answers your questions, can you tell us where you are getting your info from??? What you are saying makes no sense I have seen it in FUD statements that have been debunked.  I suggest you go back to the lab do your due diligence and then come back with questions worth entertaining.  I also have to question your timing. Not trying to be an a$$ about but there is much information in this forum alone to formulate better questions

Edited by RikkiTikki

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2 minutes ago, idnotbe said:

i searched a little bit.
but still cannot understand the promising future of XRP.
and found many ppl doubt XRP with the same reason as me.

can someone enlighten me?

what i know are

- xRapid uses XRP
- when XRP is used in international money transfer, the amount of the transferred XRP disappears.
- Ripple company puts some amount of XRP in escrow, not to be traded in the exchanges


i wonder...

1. considering XRP should treat big amount of money transferred between countries, why does Ripple company design to eliminate XPR transferred from a country to the other?
it seems better to maintain large amount of XRP (rather eliminating them) and provide enough XRP to replace the current SWIFT market.

2. from the existing banks' perspective, the price volatility of XRP is quite high.
so if XRP price goes up, Ripple company may unlock some amount of XRP in escrow and let it be circulated in the exchanges.
assuming this mechanism to maintain the XRP price in some range, why do you expect that XRP price goes up?

3. let's assume a happy scenario that many ppl or banks use xRapid and the total amount of XPR is diminishing fast.
then, i think Ripple company has only one choice - making more XRP to enjoy more fee from transferring.
but that is a bad news for the ppl who possess XRP.
what do you think about this scenario?

4. some of the other blockchains such as EOS do not need to pay the fee when transferring the coins.
why do banks and ppls should use XRP rather than the other way such as EOS?

5. many XRP fans say, if XRP replaces 1% of the current SWIFT market, the XPR market cap will be xxx, thus XRP price xxx. 
but it seems very weird, because the amount of SWIFT market is "movement" of the money, while XRP market is total "market cap".
moreover, transferring more money via XRP does not directly mean increasing XRP price.
then, why do the ppl think possessing XRP is promising?

You were born just a few minutes ago and questioning the air you breathe. 

"Find for thyself another kingdom, for that which I leave is too small for me." 

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1. XRP is either method of transferring value or liquidity of value; it can move or it can stay. If it is not moving, the amount is not eliminated in any way.

2. Price goes up because XRP is the ultimate stablecoin, providing liquidity to all currencies, assets and commodities at any time and all the time, in any place on earth.

3. You must take into consideration the scenario, where XRP does not actually move but stays.

4. Ripplenet is designed to work with XRP as bridge asset, providing liquidity to all others, and since it is the native currency of the network, it is the only one that works without counterparty risk.

5. XRP can move by staying in one place, whereas no native currency can. XRP is valued by everything, while native currencies are backed by a promise.

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Ok to touch on a few things the xrp that is transferred does not disapear. When xrp is moved between wallets a tiny fraction is destroyed. The reasoning is for security reasons. Don't worry there is plenty of xrp to go around for a very long time.

The second point about volatility, the higher the price of xrp the less the price can move rapidly. The point is to get as much daily volume (billions/trillions in USD) as possible on the ledger to decrease volatility. And that process has already started as of October 1st.

Point 3 Ripple or anybody cannot make anymore xrp. The amount that was created is and always will be all there is. And again the amount of xrp that is destroyed is so small it will not affect supply anytime soon.

Point 4 again the fee is for anti spamming purposes to protect the network. And EOS is completely different in how it works. There is no comparison

Point 5 this is a fun one. Take this example the US Dollar has to be bought in order to purchase oil. So if you want to buy oil in another country you have to buy us dollars first and then buy the oil. That gives the US Dollar utility in which you have to have dollars to get oil. This helps stabilize the price of the Dollar. That's one reason why the Dollar has more value than other currencies as well.

Oh and one for the road haha. The higher the price of xrp the more it can be used for transfers all around the world, adoption means money in your pocket ??????

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The OP has doubts about XRP.  I have doubts about the OP.  For a start, the absolute classic "English is not my first language" pre-emptive defence.  Secondly, who doesn't bother to do the most basic research, but instead registers with a forum (more hassle than typing in "how does XRP work?" which gives a myriad of answers to a xRapid-based answers)....continually flip-flops between spelling XRP and XPR.   Ah well, OP hopefully you prove me wrong.

Edited by 2ndtimearound

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41 minutes ago, idnotbe said:

what i know are

- xRapid uses XRP
- when XRP is used in international money transfer, the amount of the transferred XRP disappears.
- Ripple company puts some amount of XRP in escrow, not to be traded in the exchanges

 

emmmmmthe amount of the transferred XRP disappears. disappears.disappears.disappears...

2.png.ba61f5cf4d798217384ade85129e51fc.png

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1 hour ago, idnotbe said:

i searched a little bit.
but still cannot understand the promising future of XRP.
and found many ppl doubt XRP with the same reason as me.

can someone enlighten me?

what i know are

- xRapid uses XRP
- when XRP is used in international money transfer, the amount of the transferred XRP disappears.
- Ripple company puts some amount of XRP in escrow, not to be traded in the exchanges


i wonder...

1. considering XRP should treat big amount of money transferred between countries, why does Ripple company design to eliminate XPR transferred from a country to the other?
it seems better to maintain large amount of XRP (rather eliminating them) and provide enough XRP to replace the current SWIFT market.

2. from the existing banks' perspective, the price volatility of XRP is quite high.
so if XRP price goes up, Ripple company may unlock some amount of XRP in escrow and let it be circulated in the exchanges.
assuming this mechanism to maintain the XRP price in some range, why do you expect that XRP price goes up?

3. let's assume a happy scenario that many ppl or banks use xRapid and the total amount of XPR is diminishing fast.
then, i think Ripple company has only one choice - making more XRP to enjoy more fee from transferring.
but that is a bad news for the ppl who possess XRP.
what do you think about this scenario?

4. some of the other blockchains such as EOS do not need to pay the fee when transferring the coins.
why do banks and ppls should use XRP rather than the other way such as EOS?

5. many XRP fans say, if XRP replaces 1% of the current SWIFT market, the XPR market cap will be xxx, thus XRP price xxx. 
but it seems very weird, because the amount of SWIFT market is "movement" of the money, while XRP market is total "market cap".
moreover, transferring more money via XRP does not directly mean increasing XRP price.
then, why do the ppl think possessing XRP is promising?

It is a scam bankster coin that no one use. Speed too fast. Your money get lost quickly. Do not buy.

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7 hours ago, idnotbe said:

i searched a little bit.
but still cannot understand the promising future of XRP.
and found many ppl doubt XRP with the same reason as me.

can someone enlighten me?

what i know are

- xRapid uses XRP
- when XRP is used in international money transfer, the amount of the transferred XRP disappears.
- Ripple company puts some amount of XRP in escrow, not to be traded in the exchanges


i wonder...

1. considering XRP should treat big amount of money transferred between countries, why does Ripple company design to eliminate XPR transferred from a country to the other?
it seems better to maintain large amount of XRP (rather eliminating them) and provide enough XRP to replace the current SWIFT market.

2. from the existing banks' perspective, the price volatility of XRP is quite high.
so if XRP price goes up, Ripple company may unlock some amount of XRP in escrow and let it be circulated in the exchanges.
assuming this mechanism to maintain the XRP price in some range, why do you expect that XRP price goes up?

3. let's assume a happy scenario that many ppl or banks use xRapid and the total amount of XPR is diminishing fast.
then, i think Ripple company has only one choice - making more XRP to enjoy more fee from transferring.
but that is a bad news for the ppl who possess XRP.
what do you think about this scenario?

4. some of the other blockchains such as EOS do not need to pay the fee when transferring the coins.
why do banks and ppls should use XRP rather than the other way such as EOS?

5. many XRP fans say, if XRP replaces 1% of the current SWIFT market, the XPR market cap will be xxx, thus XRP price xxx. 
but it seems very weird, because the amount of SWIFT market is "movement" of the money, while XRP market is total "market cap".
moreover, transferring more money via XRP does not directly mean increasing XRP price.
then, why do the ppl think possessing XRP is promising?

Just my own opinion, not financial advice:

1.  Xrapid uses XRP as a bridging currency for cross-border transfers.  Ripple is easing banks into using XRP as an optional exchange instrument by offering an intermediate solution (Ripplenet) that is similar to traditional SWIFT structure that banks are already familiar with.

2. Volatility exposure is verry short!, and I believe Ripple is willing to cover any losses incurred by institutions to volatility exposure when transacting, reimbursing institutions for any losses likely to be incurred until XRP price stabilizes sufficiently via marketcap increase.

3. Xrapid is for financial institutions specializing in cross-border payments - it's not for people.

Yes, as adoption and usage increases, XRPs will be destroyed at a faster rate (increase in deflation), and the collective value of those XRPs destroyed will increase as well, but by the same token it will take substantially less XRP to do the same valued transactions as before and institutions piles of XRP will be worth a lot more.

4. Destruction of XRP is vital to optimal performance of transactions on the network.  If different people spam the network with millions of worthless transactions at the same time (a distributed denial of service attack), then banks will have trouble using this service, and that can't happen since they move billions of dollars on a daily basis...any disruption of service like this would likely be unacceptable to banks, so someone who spams the network is disincentivized to do so by losing their xrp in proportion to the level of spam attack.

5. Eventually if many financial institutions start transacting with XRP, they will most likely keep a minimum reserve on hand to allow for transactions they need to make when there aren't enough XRP on the open market to purchase/borrow at the market price they want.  This minimum reserve will help push up the value of XRP since it will decrease the corresponding circulating supply. ;)

 

 

Edited by enrique11
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