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BobWay

Hi! I'm Bob

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14 hours ago, BobWay said:

But the crazy thing is that US law says that both Citi and BofA need to screen the transaction between Alice and Bob for compliance with US laws! And if a bad transaction slips through, both Citi and BofA can be fined huge amounts. So in effect, whether Alice in Barbados can do business with Bob in St Lucia becomes dependent on whether or not US banks want to allow it. Even though the transaction doesn't involve US jurisdiction at all!


The side effect of the US bank's risk in these transactions is that they've started closing the correspondent banking accounts for entire countries. The risk is just seen as too high for the reward (fees) that they can charge. This is called in banking jargon, "the de-risking problem".

Very interesting perspective. RippleNet will allow for a huge boost in global economic activity in that regard. The inefficiencies of the decades-old current settlement system are mind blowing and quite literally holding back poorer countries from participating. 

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On ‎3‎/‎5‎/‎2019 at 9:29 PM, BobWay said:

but not enough to make me worth kidnapping

hahahahaha  but all depends where you living at, so the kidnaper will put the target lower or higher 

so from my perspective that XRP will reach three digits within two year, and you are a US citizen, you have bought around 1000 XRP... ? and honestly, i don´t believe so mate! :acute::spinlol:

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On 3/5/2019 at 12:51 PM, BobWay said:

Hello all. Just wanted to introduce myself. I'm Bob Way, formerly of Ripple. Thank you in advance for allowing me to join your forum.

Hello Bob! Welcome to the forum. 

I just have one question.

Did Ripple ever have any discussions or meetings about all the FUD and Libel that was being spread about XRP and Ripple?  Or did they just ignore it all?

Thanks!

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Posted (edited)

Good morning Bob. Do you believe large players such as JP Morgan (and many others not necessarily in direct coordination but possibly in some way) are trying to suppress the market until they feel they can get a leg up on all of us marginal people who "got in" before them, reversing what has been the age old system of us buying in en-mass after an IPO? Watching the price action (the charts) it sure seems like it is being held back. It feels like a race between Ripple building an organic growth of utilization towards more and more liquidity versus traditional finance delaying and trying to figure out a way around Ripples ILP and XRP's interoperability (I'm not a tech guy, so hopefully I have these terms right). It's why we are all so excited about the possibility of xRapid taking off, when utility and organic volume exceeds the ability of large players to suddenly dump just as the prices are taking off, killing any run. 

One other question, which some have already alluded to: Can you explain what happened back in September when the price shot up to .80 in a short period of time with incredible volume? Again, watching the chart and the active trades, it was a thing of beauty seeing liquidity in action. 

Thank you in advance.

Edited by VanGogh

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24 minutes ago, BobWay said:

I really hate this question because don't actually have a "gambling gene" in my body. Watching the price of XRP go up and down gives me a huge amount of anxiety. I've actually spent the past six months deliberately NOT looking at the price. I had more than enough stress in other areas of my life.

But it is a fair question. I think the best answer I can give is to make a parallel with technology. "We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run," Amara's Law.

I expect there will be price spikes in XRP and other crypto currencies in the near term. However, it is impossible for me to say what the right price is at any instant. I'd like XRP to set new highs over the next year, but really that is just my wishes. I don't have specific information to say "it will happen because of this, that or the other thing".

In reality, all cryptocurrency prices are set by one thing and one thing only. People's perception of the asset's future utility.

I personally believe that XRP has a uniquely huge utility value. I'm going to do my best to explain to everyone why I believe that. But do keep in mind that while Ripple the company and XRP the asset are uniquely placed and resourced to succeed. It is possible that individually or collaboratively this all ***** up. I'm going to do my best to make sure that doesn't happen. I hope everyone here will join me in that. 

---

Now that I re-read the question I see the part that says "internally at ripple"...

Several people left fancy jobs and joined Ripple because (I paraphrase) "If we capture even a minor fraction of the international payments market, do you know the value XRP will need to have to support that! Do the math, (really, really big trade number) / 100 billion XRP = Wow!

Those sort of conversations always buoyed my spirits and made me smile. But really they also gave me anxiety and made me remember that my job was to "make sure we don't all **** this up!"

Curiously, XRP price speculation conversation are a bit of a sore spot internally at Ripple. The reason for this is the strange imbalance in XRP ownership among employees. It turns out how vested in XRP you are as an employee depends on the time period in which you started working for the company.

  • If you started in Ripple's first year or so, you probably bought XRP on your own initiative.
  • If you started after our pivot toward banks and away from the consumer client, you probably didn't buy XRP at all.
  • If you started during the 2017 price run up, you might have bought XRP regularly in your first few months.

Keep in mind I bought XRP at around a penny. Then watched it sink over three years to a low of 0.3 cents. That was not too long ago in my mind. So XRP @ 30 cents is up 100X since I took my last vacation. I have to keep that in mind when I'm pining away for XRP @ $3.

Thanks Bob!

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