Jump to content

xRapid - The Beginning Game


Recommended Posts

10 hours ago, P3T3RIS said:

@Wandering_Dog 

That banks liability to you was issuing Central Banks asset on that bank, and when that liability disappeared, that asset returned to Central Bank to be used elsewhere.

Value that moved in XRP jumped to other country´s Central Bank´s liabilities 

Great! They are actually buying and selling reserves on the central bank ledger. So our balance sheets actually look like this:

 

ME

A: 100 USD

 

BOA

A: 100 USD_R

L: 100 USD

 

FED:

A: 100 UST

L: 100 USD_R

 

US EXCHANGE:

A: 300 XRP

 

EU EXCHANGE:

A: 100 EUR

 

CBofL

A: 100 EUB

L: 100 EUR

 

BOL:

 

 

YOU:

 

What happens next?

 

Edited by Wandering_Dog
Link to post
Share on other sites
  • Replies 143
  • Created
  • Last Reply

Top Posters In This Topic

19 hours ago, Wandering_Dog said:

@P3T3RIS

Ok great, I have 110 USD in my bank account at... Bank of America!

And, I want to send 100 EUR to you, let the FX rate support it for simplicity. 

What happens next?

Your sell order will be cancelled because of insufficient funds... (1 euro costs about 1.14 dollar):)

Link to post
Share on other sites

@Wandering_Dog

it happens, that more advanced importfocused countries with large balance sheets do not have to tie their national currency reserves  to finance undeveloped, manufacture oriented countries as much as they have done when need for nostro/vostro accounts is reduced and more developed countries can find more profitable use for their money than financing undeveloped countries.

That is how I see it currently. Will reserve rights to change my opinion at any given moment 😂 

Link to post
Share on other sites
8 minutes ago, P3T3RIS said:

What is the value of XRP in XRPL?

Again, there is no such thing as XRP outside XRPL. The current market value of 1 XRP is around 0.32 USD. That means that there are people that are willing to pay you 32 cent per XRP to take over the ownership of your XRP, in exchange for dollars. If you agree to sell 1 XRP for that price, at the end of that transaction you have 32 cents (worth 1 XRP), and the buyer has 1 XRP (worth 32 cents).

Link to post
Share on other sites
8 minutes ago, lucky said:

Again, there is no such thing as XRP outside XRPL. The current market value of 1 XRP is around 0.32 USD. That means that there are people that are willing to pay you 32 cent per XRP to take over the ownership of your XRP, in exchange for dollars. If you agree to sell 1 XRP for that price, at the end of that transaction you have 32 cents (worth 1 XRP), and the buyer has 1 XRP (worth 32 cents).

Yes, that is price of XRP in US dollars. 

But what is the value of XRP in XRP Ledger?

Link to post
Share on other sites
Just now, P3T3RIS said:

Yes, that is price of XRP in US dollars. 

But what is the value of XRP in XRP Ledger?

Sweetheart for the third time, there is no such thing as XRP outside XRP ledger, so whatever you consider to be XRP outside the ledger, is the very same thing as XRP inside. XRP is a digital asset with an owner, just like gold. You can consider the XRP ledger the safe of this asset, but the asset never leaves the safe. And while in the safe, you can sell it on the market, the price of which determines its current value.

Link to post
Share on other sites
6 minutes ago, lucky said:

, the price of which determines its current valua

1. Price is what you pay, value is what you get. Simple as that.

2. XRP in exchange’s orderbooks is off-ledger.

3. Please, what is the value of XRP in XRPL?

You wrote it is definitely not zero, so how much it is? 

Link to post
Share on other sites
2 minutes ago, P3T3RIS said:

1. Price is what you pay, value is what you get. Simple as that.

2. XRP in exchange’s orderbooks is off-ledger.

3. Please, what is the value of XRP in XRPL?

You wrote it is definitely not zero, so how much it is? 

Value on-ledger can only be expressed subjectively, per xRapid transaction and only on a % basis. It must necessarily be close to zero for xRapid to function without slippage.

In other words, because an xRapid transaction has two parts, some % difference may be possible between the price of XRP in part one versus part two of the transaction (the first part being the purchase of XRP with fiat; and the second being the purchase of Fiat with XRP).

It is possible that in the first part of this process the price of XRP could be, say, $0.320, and in the second part it could be, for example, $0.325. Not impossible. Although it may be something that is safeguarded against within the script that decides whether to actually process any given xRapid transaction.


 

Link to post
Share on other sites
45 minutes ago, Wandering_Dog said:

The "value" of XRP is 0, because it is nothing.

That's not true. XRP ledger is a human creation, a large number of very bright people have invested a substantial amount of their time to create it, and continue to improve it. 1 XRP represents 1/100,000,000,000 of this collective intellectual product. If you consider this nothing, you can consider all products of intellectual effort nothing ("created out of thin air!") and having a value of 0: all literature, all art, all music, all software.

Edited by lucky
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.