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P3T3RIS

xRapid execution order confirmed by David Schwarz

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3 hours ago, P3T3RIS said:

Which currency is used for buying? Base or counter? @BrownBear

Base is the one you are buying. Counter is the one you are buying with. For example, when a buyer purchases XRP/USD, it basically means that he is buying XRP and selling USD at the same time.

Edited by BrownBear
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when I buy XRP with USD, I am not selling anything. I only buy, someone else might be selling, but I am buying.

When I buy BTC with XRP (BTCXRP) I pay 11000 XRP to get 1 BTC, and I am not selling anything.

Get your act together and do not confuse people here more that you have already done, thank you.

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16 minutes ago, P3T3RIS said:

when I buy XRP with USD, I am not selling anything. I only buy, someone else might be selling, but I am buying.

When I buy BTC with XRP (BTCXRP) I pay 11000 XRP to get 1 BTC, and I am not selling anything.

Get your act together and do not confuse people here more that you have already done, thank you.

Yes you are. You are disposing of an asset to purchase another asset. In this case you are SELLING 11,000 XRP FOR 1 BTC. There must be someone willing to BUY 11,000 XRP for 1 BTC in order for the transaction to complete. The inverse is also true., You can BUY 1 BTC for 11,000 XRP but there needs to be someone wanting to buy 11,000 XRP. for 1 BTC.

For every sell order you need a corresponding buy order. And for every buy order you need a corresponding sell order.

While you think you are not selling your XRP. I bet you 1,000 XRP the tax office says you have disposed of the asset and made a capital gain aka sold an asset.

 

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1 hour ago, BrownBear said:

Base. For example, when a buyer purchases XRP/USD, it basically means that he is buying XRP and selling USD at the same time.

Basically yes, but specifically, one doesn't get to choose which side of the order book. 

Edited by Guest

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1 hour ago, P3T3RIS said:

Get your act together and do not confuse people here more that you have already done, thank you.

Although most are used to terms like trading and exchanging, you are selling USD when you use them to purchase XRP. The more people and institutions trying to "get out of" some portion of their USD holdings in exchange for XRP (or numerous other currencies/assets), the more downward pressure there is on the value of dollars relative to euros, sterling, gold, and so on. BrownBear's not trying to confuse anyone by saying so.

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1 hour ago, mrhat75 said:

Maybe I'm missing something, but isn't this exactly how we all knew xRapid was going to work?  

Yes, nothing new here.

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1 hour ago, GoldenGoose said:

Although most are used to terms like trading and exchanging, you are selling USD when you use them to purchase XRP. The more people and institutions trying to "get out of" some portion of their USD holdings in exchange for XRP (or numerous other currencies/assets), the more downward pressure there is on the value of dollars relative to euros, sterling, gold, and so on. BrownBear's not trying to confuse anyone by saying so.

Triggered by this statement.

So when spending Euro’s in real life ( buying groceries, a car, paying my mortgage etc) , I’m putting downwards pressure on € relative to $ ?  I don’t think so. 

Whole discussion is troubled by comparing apples and oranges. Fiat has all the functions we dedicate to- and call “ money” and XRP has not. 

When buying a bicycle on Ebay, we say I bought a bicycle , and we don’t say I just sold some € . 

Edited by Ripple-Stiltskin
So according Einsteins theory there’s not an absolute truth: it depends on your perspective : just 1 exchange? The whole world?

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6 minutes ago, Ripple-Stiltskin said:

Triggered by this statement.

So when spending Euro’s in real life ( buying groceries, a car, paying my mortgage etc) , I’m putting downwards pressure on € relative to $ ?  I don’t think so. 

Whole discussion is troubled by comparing apples and oranges. Fiat has all the functions we dedicate to- and call “ money” and XRP has not. 

When buying a bicycle on Ebay, we say I bought a bicycle , and we don’t say I just sold some € . 

Agreed. I'm not taking it to the level of groceries and so forth. I'm talking about the forces of supply and demand on floating currencies and their relative rates of exchange. To use a more obvious example, not many people want to hold onto Venezuelan bolivars. As they clamor to exchange them for other currencies, their value declines precipitously. Of course, it's also true that hyperinflation causes them to clamor to exchange them for other currencies or more reliable stores of value. And, yes, we would say we "bought XRP;" but when we reverse the transaction, we are also "buying dollars" even though we call it selling XRP. In the former case, we got rid of dollars and no longer own them. In the latter, we bought them back again.

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