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Could this be the reason for bigger banks and FI's to delay xrapid and use xcurrent??


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Could this be the reason for bigger banks and FI's to delay xrapid and use xcurrent??

Ripple does have a lot to look forward to, though, as market watchers are focusing on an earlier interview with the company’s senior vice president of product management Asheesh Birla. He suggested that banks on xCurrent might want to upgrade to xRapid at some point, noting:

“To deploy something for Standard Chartered, Santander or Bank of America, our solution needs to scale to hundreds of thousands of transactions per second – this was in the design from the outset.”

https://www.newsbtc.com/2018/10/25/ripple-xrp-price-watch-inverted-head-and-shoulders/

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I would also keep in mind that big banks are by their nature conservative. When you're moving large amounts of money around the software needs to work EVERY. SINGLE. TIME.

They're going to test the living hell out of it to make sure it fits every single technical situation and works within the regulations of every single country their business touches. This will take time, and each FI will adopt at its own pace.

That's one of the reasons SWIFT still exists. It's slow and painful, but it generally works if you give it enough time. Replacing something that has been in use for four decades as a mainstay of international financial transfers is going to take time.

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It's going to be a long road before we see massive xRapid adoption and effect on price. The biggest hurdle atm is regulatory uncertainty in many countries not to mention personal agendas many politicans and lawmakers have as they are btc holders. The next step is developing many more trustworthy and legitimate exchanges that function within country laws. The final step is increasing liquidity and scaling volume via xRapid and other means. It's a long journey that will take time. 

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7 hours ago, lordzerpington said:

I would also keep in mind that big banks are by their nature conservative. When you're moving large amounts of money around the software needs to work EVERY. SINGLE. TIME.

They're going to test the living hell out of it to make sure it fits every single technical situation and works within the regulations of every single country their business touches. This will take time, and each FI will adopt at its own pace.

That's one of the reasons SWIFT still exists. It's slow and painful, but it generally works if you give it enough time. Replacing something that has been in use for four decades as a mainstay of international financial transfers is going to take time.

Not to detract from your point- banks are conservative, but Swift's published error rate is 6% that need manual intervention to solve. 6% of Swift's annual transactional volume is a ludacris amount of money that's delayed, lost or in limbo. Replacing Swift's network is a grinding process, almost entirely due to an alarming lack of a better alternative that lasted a lifetime, and certainly not because Swift 'generally works'.

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I don't understand the supposed "chicken and egg" liquidity problem.

If Ripple ever announces an xRapid partnership with a bank then then price, volume and liquidity will increase accordingly.

It's not like they have to put ALL their transactions through xRapid day one. Or is it?

Also "hundreds of thousands of transactions per second" sounds a bit high .. is that supposed to be each bank??

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I do believe that the infrastructure is built up all the time now, the corridors are set up and tested with small amounts to not let market know what is coming.

Bittrex, Bitso and Coins.ph are the exchanges that will get the volume at launch, and I believe Ripple already has calculated with their partners exactly how much volume they want and they need to begin with, and that is what they drive through the exchanges with their partnering FI´s or banks etc. FOMO will be huge and price will be hyped too high, the problem is not there.

What Ripple has told all the time is that they want less volatility, and that is the question... who catches the downfall after sudden spike in price and at what level?

Previous ATH 3,5 USD could be the next big support, lowest tick just below 2,  just like .4 could hold now .24 being the lowest

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