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Garlichouse - Flip the switch mane

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1 hour ago, Qasim_786 said:

Incorrect. I would suggest reading @galgitron explanation about how xrapid will effect price.

Suddenly @galgitron is the gospel of how things will play out? Our "advocate of the devil"? The statement that you label as "incorrect" seems very plausible to me. But nobody knows for sure. This has never been done before, we are at unchartered territory. It might work, it may not. But "utility will affect the price of XRP" is the basic business plan of Ripple.

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3 hours ago, Trendkill said:

 

Well she's wrong. There is a magic switch , you just haven't found it yet. 

I think you're all wrong. Your girl has a button and you have a switch! Well if your girl didn't find your switch it must be a hard one to find.

 

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2 hours ago, lucky said:

Suddenly @galgitron is the gospel of how things will play out? Our "advocate of the devil"? The statement that you label as "incorrect" seems very plausible to me. But nobody knows for sure. This has never been done before, we are at unchartered territory. It might work, it may not. But "utility will affect the price of XRP" is the basic business plan of Ripple.

No it isn't. Competition between market makers is what will increase the price of xrp according to  @JoelKatz and not the utility of xrapid itself. xrapid is essentially a wash trade, with xrp being bought and sold shortly after. Or maybe we shouldn't listen to him either lol?

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Just now, Qasim_786 said:

No it isn't. Competition between market makers is what will increase the price of xrp according to  @JoelKatz and not the utility of xrapid itself. xrapid is essentially a wash trade, with xrp being bought and sold shortly after. Or maybe we shouldn't listen to him either lol?

That's interesting. I haven't seen that from David.  Do you know where he said it?  Or have a link?  Thanks if you do.

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4 minutes ago, Tinyaccount said:

That's interesting. I haven't seen that from David.  Do you know where he said it?  Or have a link?  Thanks if you do.

I would read that whole thread plus @galgitron explanation of how xrapid does and does not work. 

Edited by Qasim_786

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9 minutes ago, Qasim_786 said:

No it isn't. Competition between market makers is what will increase the price of xrp according to  @JoelKatz and not the utility of xrapid itself. xrapid is essentially a wash trade, with xrp being bought and sold shortly after. Or maybe we shouldn't listen to him either lol?

I've paid close attention to everything he said, and I've never heard him say that only competition between market makers is what will increase the price. Unless you provide a link to such statement, I will assume he has never said any such thing, "lol".

Here, read this.

Quote

7) This will increase the demand for XRP as connectors need XRP to buy the destination currency for their trades.

8) If XRP is cheap to trade with other currencies, people who don't know what currency they'll need next may hold XRP.

9) If XRP is cheap to trade with other currencies, people who are willing to buy any currency they can get cheaply may hold XRP.

10) This can lead to a cycle of increasing demand.

utility is what matters

Edited by lucky

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1 minute ago, lucky said:

I've paid close attention to everything he said, and I've never heard him say that only competition between market makers is what will increase the price. Unless you provide a link to such statement, I will assume he has never said any such thing, "lol".

see above

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10 minutes ago, Qasim_786 said:

No it isn't. Competition between market makers is what will increase the price of xrp according to  @JoelKatz and not the utility of xrapid itself. xrapid is essentially a wash trade, with xrp being bought and sold shortly after. Or maybe we shouldn't listen to him either lol?

That's not what a wash trade is. And this thing JK supposedly said makes zero sense, so I'll assume he never said it... 

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8 minutes ago, lucky said:

7) This will increase the demand for XRP as connectors need XRP to buy the destination currency for their trades.

8) If XRP is cheap to trade with other currencies, people who don't know what currency they'll need next may hold XRP.

9) If XRP is cheap to trade with other currencies, people who are willing to buy any currency they can get cheaply may hold XRP.

10) This can lead to a cycle of increasing demand.

THIS is precisely the definition of a market maker. We both agree this aspect is what will increase the price of xrp. A common misconception is that the buying and selling of xrp in a wash trade (xrapid) will effect price. 

 

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1 minute ago, jcdenton said:

That's not what a wash trade is. And this thing JK supposedly said makes zero sense, so I'll assume he never said it... 

Xrapid is "essentially" a wash trade, without the context of market manipulation. A quantity of xrp is bought for a set amount of fiat and then sold shortly thereafter for another form of fiat with the hope of minimal volatility in between the 2 trades.  

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