Binance plans to make XRP quote currency

[knull]

6 minutes ago, kenrino said:

I think you're wrong @Hodor

more pairs in the "alts markets" section yes (as the base) but they have no intention to replace btc markets or their own "base" bnb markets.

https://www.binance.com/en/use-bnb

https://support.binance.com/hc/en-us/articles/115000583311

Where does he state that?

 

[DD_XRP]

20 minutes ago, kenrino said:

I think you're wrong @Hodor

 

Impossible.

[vanripple]

1 hour ago, Ripple-Stiltskin said:

Please take notice when speaking to @Hodor

https://www.royal.uk/greeting-member-royal-family

Also:  walk backwards leaving the room, never turn your back to him, that would be an insult. 

Same goes for other gold members. 

 

JK, lol, Merry X-Mas

And before doors close, I am gonna gesture like  avatar you have, in the twikle of an eye!

 

Merry Christmas to you and your family!

[Ripple-Stiltskin]

11 minutes ago, vanripple said:

And before doors close, I am gonna gesture like  avatar you have, in the twikle of an eye!

Merry Christmas to you and your family!

No need to say it 3 times, but thanks! Merry X-Mas for you and the ones you love too! 

[JA8]

Not sure where the capacity for confusion is creeping in here, but it's pretty straightforward. Binance will use XRP as one of the quote currencies, along with BTC and ETH and some others.

[minicuzzo]

1 hour ago, kenrino said:

I think you're wrong @Hodor

 

 

[vanripple]

35 minutes ago, JA8 said:

Not sure where the capacity for confusion is creeping in here, but it's pretty straightforward. Binance will use XRP as one of the quote currencies, along with BTC and ETH and some others.

So far, there is only one confusion and it can be Grinch!!! This is: "Is Hodor really wtong?"

Edited December 24, 2018 by vanripple

[BrownBear]

2 hours ago, vanripple said:

I am far, far away an expert in this world, but from an first glance at investopedia, base is a first part and quote is a second part.

But, what if you have <all suported currencies>/XRP pairs, it makes XRP a base? Right!? am I right? This is what CZ talking about?

P.S. wow, I talk to Hodor!!!

Hodor.

 

 

No, it makes XRP a quote currency still. Pretty much a base currency is the unit you want everything to be exchanged from. SO if you have EUR/USD you use EUR as 1 and USD as parts of EUR, so 1 EUR buys 1.14 USD. 

TRX/XRP = 1 Tron = x XRP

BTC/XRP = 1 BTC = x XRP

ETH/XRP = 1 ETH = x XRP

So if CZ is correct in his usage of the word 'quote currency' then you can only buy XRP from other pairs, not other pairs from XRP as that would make XRP a base currency in that conversion. It's possible to have XRP as a base and a quote currency for difference transactions ( say 1XRP = 0.00010300 BTC (XRP/BTC), but he clarified as said 'base is a quote currency' and that is 100% wrong.

But I think a lot of people want XRP as a base as defined by being able to buy directly from fiat and then buying everything else from XRP. Right now, XRP can only be purchased initially from other currencies such as USDT and that sucks.

[vanripple]

8 minutes ago, BrownBear said:

No, it makes XRP a quote currency still. Pretty much a base currency is the unit you want everything to be exchanged from. SO if you have EUR/USD you use EUR as 1 and USD as parts of EUR, so 1 EUR buys 1.14 USD. 

TRX/XRP = 1 Tron = x XRP

BTC/XRP = 1 BTC = x XRP

ETH/XRP = 1 ETH = x XRP

So if CZ is correct in his usage of the word 'quote currency' then you can only buy XRP from other pairs, not other pairs from XRP as that would make XRP a base currency in that conversion. It's possible to have XRP as a base and a quote currency for difference transactions ( say 1XRP = 0.00010300 BTC (XRP/BTC), but he clarified as said 'base is a quote currency' and that is 100% wrong.

But I think a lot of people want XRP as a base as defined by being able to buy directly from fiat and then buying everything else from XRP. Right now, XRP can only be purchased initially from other currencies such as USDT and that sucks.

This makes perfect sense and you are right, it looks like CZ used two mutual exclusive terms to describe one thing

Fiat base pairs are new to Binance, hope they prioritize XRP

Edited December 24, 2018 by vanripple

[Hodor]

5 hours ago, kenrino said:

I think you're wrong @Hodor

more pairs in the "alts markets" section yes (as the base) but they have no intention to replace btc markets or their own "base" bnb markets.

https://www.binance.com/en/use-bnb

https://support.binance.com/hc/en-us/articles/115000583311

I never said they were going to replace btc markets or BNB markets.  Not sure why you're stating this - de-listing BTC or BNB markets makes no sense to me. 

Here's what I said: I relayed that CZ, the CEO and owner of Binance, now considers XRP as a 'base currency.'  That fact is unassailable, unless somebody hijacked his Twitter account: