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XRPPatience

Thoughts regarding the Bakkt delay

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There are a few questions that have been hovering in my head recently that I'd like some perspective on from the XRPchat throbbing brain.

First regarding the Bakkt delay and if this is a good thing long term.  I'm surprised at my ambivalence about the delay announcement which feels very much like the "who cares" attitude regarding the coin base soap opera.  For well over a year now it seems Ripple has been chumming the waters with an onslaught of positive news surrounding the launch of new products and a series of partnerships.  By delaying this implementation gives Ripple the opportunity to fine tune the implementation of XRapid and expand it's XRP footprint adding to the potential energy in the XRP price.  Once there is a significant catalyst the kinetic energy would be much more explosive.  Theoretically.

 

Secondly, this gives more time for the play ground politics to work itself out between all the other coins which are comparing token sizes.  While it does bring negative attention to the crypto space in general, it may be a necessary evil to clear the room for coins with an actual purpose.  The longer the beatings continue the more strain it is on these hollow coins which will buckle under the pressure once their developers realize the profit potential evaporated.

 

Third is the sloth like pace the SEC is working to provide clarity to the space.  Regardless of the abundance of positivity coming from Ripple and XRP the space is desperately seeking some regulatory direction and it is obvious at this point it doesn't exist.  This unfortunately is acting like a governor holding back the progress of the XRP expansion. Perhaps this extra time could be spent on actually providing a much needed road map.

 

Fourthly, I'm wondering about the conversations happening with the larger institutions which have been  expending exorbitant resources on US based exchanges and ETF's .  It seems there might be a "Holy Crap" moment with these entities who are witnessing major short comings in Bitcoin such as continuous forking, expensive and inefficient mining, and molasses speed.  Not to mention an irrelevant use case.  Could it be possible with the additional time with this delay gives XRP the opportunity to present itself as the number one coin making the Bitcoin ETF and Futures efforts somewhat pointless. There may be a dialog occurring about their first string quarterback that can't throw and the runner up that's looking more and more like a superhero everyday.

 

I look forward to anyone else's observations. 

 

 

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23 minutes ago, XRPPatience said:

 

I look forward to anyone else's observations. 

I think it sounds about right!  There have been a number of delays in the space, and understandably as these new massive relationships/partnerships/exchanges are moving forth and being created and lightning speed.  So delays do not surprise me, especially when only a few weeks or months.  That being said who knows what is going on behind the scenes to allow the bitcoin fiasco to settle and the market to be readied (for XRP) once again? I've never been more clueless as of recent!

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One thing that helps is that Brad Garlinghouse has said that a bank will use xRapid this year. There could be a decent price increase because of that, independent of price action in other cryptos. Now when Bakkt opens, the hype around XRP may be at a boiling point and if Bakkt offers it, it will get huge action 

The added part of this is the type of people who will want to use Bakkt are looking to it because it is a legitimate institution. Those same people should tend to show interest in XRP because it is being used by Ripple, a legitimate institution for legitimate business reasons

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34 minutes ago, Lak5h said:

One thing that helps is that Brad Garlinghouse has said that a bank will use xRapid this year. There could be a decent price increase because of that, independent of price action in other cryptos. Now when Bakkt opens, the hype around XRP may be at a boiling point and if Bakkt offers it, it will get huge action 

The added part of this is the type of people who will want to use Bakkt are looking to it because it is a legitimate institution. Those same people should tend to show interest in XRP because it is being used by Ripple, a legitimate institution for legitimate business reasons

Yes I do remember BG saying that. I’m expecting Ripple to come forward with THE news before end of month!

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2 hours ago, XRPHornets said:

In interview the Baakt CEO said they would be looking at adding more assets, but at the moment BTC is the only one who has the required liquidity.

If XRP can stay ahead Eth it would be a good step towards being added next.

Do you have a link?

"The only one that has the required liquidity"

Who sets "the bar"? ..and how much liquidity is "required" for a market to cross the bar?

My guess is that the statement is one of those statements that you can make in TV because it could mean several different things, and most viewers wont even know one of those things.

If there is a real metric for "how much liquidity is required", that should be defined by a Regulator. That would be good.

I also remember the reason Regulators gave for rejecting the winkel-twins BTC ETF, they said "the underlying assets didn't trade on (I forget the exact word) exchanges big enough" which could be insinuating Liquidity Issues, which may lead to volatility being an ongoing concern. Or I may be completely off the mark.

I will say that I have taken notice of what appears to be an exceptionally odd amount of people who are "in the know" never letting the words Ripple or XRP leave their lips. Regulators, Business leaders, and international policymakers speak freely on Bitcoin.. but seem to act as if Ripple and XRPLedger dont exist at all. It's a routine omission enough to seem odd, and stand out to me.

Regarding Bakkt, my first thought was they may be waiting for a regulatory announcement, or just surprised as the amount of interest, therefore they need to scale up their expected level of opening operations.

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14 minutes ago, KarmaCoverage said:

"The only one that has the required liquidity"

I wouldn't think it is the only one with enough liquidity but it has the most liquidity and has been deemed a commodity in the US according to Bakkt

 

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13 hours ago, Lak5h said:

One thing that helps is that Brad Garlinghouse has said that a bank will use xRapid this year. There could be a decent price increase because of that

I wouldn't put my hopes too high with regards to a bank using xRapid (in production) this year. Mainly because Brad has been wrong before with regards to timelines, announcements etc. But, even if (and that's a big if) a banks starts using xRapid this year I'm 90% sure there will be NDAs and it won't be publicly announced as banks tend to like privacy and it'll help them stay ahead of the curve until other banks follow up. So if we assume a bank is already using xRapid it will be really hard to tell for sure - especially seeing that most of the volume comes from JPY, KRW, BTC and tether trading pairs so I'm pretty sure no bank at the momeny uses xRapid. They have probably around 2 weeks to start using it in production as most banks have change freeze in December due to market volatility, holidays etc.

Also, most people expect that there will be a decent price increase when xRapid is live, but one thing to note is xRapid is not using market orders, rather it uses the liquidity that's already available so it's really hard to tell what will happen with the price once xRapid is live in full force.

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