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djdhrubs

Is this what caused the pump yesterday?

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Approximately how big would this transfer have been though, if the cost saving was 13k? Can someone cleverer than me work it out? No idea what percentage SWIFT charges (though I thought it was a fixed amount depending on where the transfer is happening from)?

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Just now, Roaring_Twenties said:

It looks good but I don’t yet see any details to know exactly what it means for RippleNet or XRP use.

It must be xRapid surely? These guys have been shilling XRP left right and centre for a while, and particularly in the last few days. What else would save them that much dough?

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If I remember correctly, I cant be bothered checking right now, the one for Mustard Foods the other day was a saving of $73 on approximately $5000, that would roughly correspond with direct scaling to ~$1M to save $13,000

 

EDIT: Checked numbers £79 on £3500 so approx $100 on  $4600 so with direct scaling again (I know its not accurate) 132x4600 = $607200

Edited by ajsexton
Checked numbers

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4 minutes ago, ajsexton said:

If I remember correctly, I cant be bothered checking right now, the one for Mustard Foods the other day was a saving of $73 on approximately $5000, that would roughly correspond with direct scaling to ~$1M to save $13,000

 

EDIT: Checked numbers £79 on £3500 so approx $100 on  $4600 so with direct scaling again (I know its not accurate) 132x4600 = $607200

Thanks.

Were they perhaps overexaggerating the cost saving on the Mustard Foods transaction? Just saying because 70 odd pounds/ dolars on a 3500 dollar transaction seems a bit steep, even for SWIFT, or do I not appreciate how expensive SWIFT really is?

I did a 25k GBP transaction through Santander with SWIFT a few months ago and it cost me £25.

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1 minute ago, djdhrubs said:

Thanks.

Were they perhaps overexaggerating the cost saving on the Mustard Foods transaction? Just saying because 70 odd pounds/ dolars on a 3500 dollar transaction seems a bit steep, even for SWIFT, or do I not appreciate how expensive SWIFT really is?

I did a 25k GBP transaction through Santander with SWIFT a few months ago and it cost me £25.

Yes, i guess your transaction may have been in low friction channels. Very different if Middle East to Far East or US to Mexico

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1 minute ago, mistatee2000 said:

Yes, i guess your transaction may have been in low friction channels. Very different if Middle East to Far East or US to Mexico

Makes sense. I transferred from UK to US.

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21 minutes ago, djdhrubs said:

OK so I exaggerated my first post. Not multi milion. More like half a million ish. So probably nothing to do with yesterday's pump. Cheers guys.

It's still a fairly big buy at market price though....over 2 million XRP bought at market price.  Even if it nudged prices up half a cent, if done quick enough it might have triggered a few bots to buy and then you get the retail traders joining in....the retail stackers come in....and suddenly it's up 3 cents.

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