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Third-Biggest Crypto Coin Barely Causes a Ripple Amid Rally

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44 minutes ago, Valhalla_Guy said:

Oh I’m very sorry, I misunderstood this site as an opinion based entertainment vessel. My mistake for breaking protocol among you professional debaters and the financial insiders. 

For the record, I highly doubt that you work for Ripple, so everything you believe that you know, about the company, is a simple opinion created by your own interpretation of events which I happen to interpret differently. One of us is wrong, but neither of us can definitively say which one. So step down a little.

You assume RL prioritizes XRP as much as you do. RL has more than 1 good horse in this race. XRP simply has the longest odds, but most certainly, is not their only chance of winning.

Also Can you please point me back to the Internet. I hear it’s fun. I knew I should have never cancelled my AOL last month...

I honestly have no idea what the feck you are on about here.

Its real simple...  you make wild claims it’s a scam with no evidence then ask us to disprove them.  That’s bs because the onus is on the person making the wild claim to offer some evidence.  There is none so you never do.

I can’t make it clearer than that.

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Posted (edited)
1 hour ago, Tinyaccount said:

I honestly have no idea what the feck you are on about here.

Its real simple...  you make wild claims it’s a scam with no evidence then ask us to disprove them.  That’s bs because the onus is on the person making the wild claim to offer some evidence.  There is none so you never do.

I can’t make it clearer than that.

Does over selling their XRP until caught, then claim bad volume numbers from CMC count as evidence??? Some, including myself, would view these events as suspicious considering the fact that even I knew CMC volume was fake after about 3 months of my introduction to crypto. Most would think that the steward of the new world’s currency would be able to do a little better than CMC to measure volume. You view these same events simply as an unfortunate error by RL, that just happened to be financially favorable.

Perhaps the lack of transparency when it comes to escrow distribution concerned me a touch, but it too was resolved, after some accounting corrections, again thanks only to outside lighting- some directly from this site.

I know it’s my fault but I could not keep my left eye brow from raising when I saw that RL was being sued, and the suit was not immediately dismissed. (As predicted by all the local chat experts) I understand that you may view this event as BTC maximalist villains attacking the only chance this planet has at world peace, and ending hunger.

Give me a minute to put some more thought in this and I can list plenty more events you view as small thorns on big roses, and I do not.

To each his own.

Edited by Valhalla_Guy

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You’ve waxed lyrical and gone to some fair degree of hyperbole about my supposed views.  I’ll just ignore that. 

I too am somewhat amazed at how the same set of events can be viewed so differently.  Personally I think your timeline of sales percentage changes might be a bit out of order but can’t be bothered tracking down that aspect.  

I think we see things differently and your assessment of Ripple as voracious and immoral is orthogonal to mine.

So perhaps I should just stop wasting both our times and give up trying to dispute you. 

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Posted (edited)
On 8/25/2019 at 8:14 AM, wogojump said:

I actually believe XRP will most likely be ruled as not a security.  The actions Ripple is presently taking with selling XRP and funding their business, will be used when reviewing this case.  Areas where money from sales of XRP is going directly into Xcurrent or any other non XRP community area, could be used against them.   This starts to dive into grey areas, that have not had a legal precedence set in the past.  So there will be open areas for legal interpretation.

I believe Ripple will have an advantage if they remove grey areas where XRP sales are being used to fund business ventures (not directly related to XRP) and ensuring there is evidence that the sales of XRP is someway helping the XRP community.

 

This does bring up the two questions that I've had as of late:

1) What is Coil, and how does it directly relate to strengthening the XRP infrastructure and ecosystem?

2) Why must these ventures be funded via sales of XRP, as opposed to having capital raises and levering up the balance sheet?

3) Edit: Also, pardon my ignorance but I was under the impression that Ripple asserted their "decentralization" from the crypto in that they had little control over the XRP in escrow as it was a separate entity.  If that is the case, how is it that, as mentioned in 2) above, they are able to use XRP from escrow to fund the initiative?

https://coil.com/p/Hodor/Ripple-s-Q2-XRP-Markets-Report/PtwyGPFwt

 

Edited by slipstreamer

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Posted (edited)
1 hour ago, slipstreamer said:

This does bring up the two questions that I've had as of late:

1) What is Coil, and how does it directly relate to strengthening the XRP infrastructure and ecosystem?

2) Why must these ventures be funded via sales of XRP, as opposed to having capital raises and levering up the balance sheet?

3) Edit: Also, pardon my ignorance but I was under the impression that Ripple asserted their "decentralization" from the crypto in that they had little control over the XRP in escrow as it was a separate entity.  If that is the case, how is it that, as mentioned in 2) above, they are able to use XRP from escrow to fund the initiative?

https://coil.com/p/Hodor/Ripple-s-Q2-XRP-Markets-Report/PtwyGPFwt

 

1) What Coil is today is pretty different on what they want to be in the future:

Coil today:

  1. Recommend to read on their website for high level details: https://coil.com/about/.
  2. Customers pay $5 monthly subscription. In return, they get exclusive access to premium content if subscribers only flag the content for Coil subscribers to have access. The $5 Coil subscription is then evenly distributed to sites that are visited that have Coil plugin enabled.
  3. Current business model is flawed. At this time they probably only have a few thousand customers. The revenue generated from $5 subscription is so minimal, that it generates no way near as much as revenue from ads.  Which is where their business model fails, because they are targeting to be a alternative for ads (which currently isn't happening).

Coil in the future:

  1. Recommend to read Hodor's blog on this topic: https://coil.com/p/Hodor/The-Big-Deal/rVb7l8ang.
  2. There are a ton of huge opportunities, where XRP could be used in micro transactions through online/digital experiences. If even a few of these become mainstream, XRP usage and demand would sky rocket.
  3. These high level Coil goals are extremely vague at this time.  No concrete details, business model, actual development, pilots, etc. Very risky and most of these have low chances to be successful (based on current known information).
  4. Future Coil needs to resolve or get rid of current Coil business model. Pigeon holing Coil as an alternative to ads, will cause it to get destroyed by ad revenue options (Google, YouTube, Twitch, etc.).

2) On a high level, because they have to in order for them to actually get funded. 

  1. They have received some tradition funding so far- Ripple does have private investors funding their business at this time.  Coil did get 20 million crowd funded from Imgur.
  2. These XRP specific projects are high risk with little/to no evidence of ROI for most investors. Most investors would rather stick with SEC investments that have lower risks and/or better opportunities for ROI. No normal investor in their right mind would give Coil ~$265 million at this time.  Way to risky, revenue way to low, customer base way to low, flawed business model, etc.
  3. XRP funding gives Ripple quicker and more direct control over funding.
  4. Lastly, funding via XRP has a ton more benefits for Ripple and their partners.  They are able to sell XRP on the market (which is currently basically gathering funds from retail investors like us). There is little regulation that needs to be followed (presently). There are little risks if the projects don't add value or ROI to XRP community.  Lets say Coil company burns through ~$250 in a few years, with no benefits actually created. Coil can continue running their business as normal, sell, or close. They could indirectly funnel ~$15 million into increased salaries for their job roles, then retire as millionaires with no real risks.  This is of course if lawsuits and government regulations don't come into play.  If they are successful with XRP projects, they will probably retire as billionaires.

3) This is a common concern area, which there is not a lot of clarity.  I believe most or all community members don't fully know. My guess is that Ripple plans to take a small parcentage of the 1 billion XRP and give them to Coil (for them to sell on the market) over the next few years. So maybe out of Ripple's max escrow, 50 million XRP will be going to Coil every quarter for the next 5 years.

Edited by wogojump

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17 hours ago, wogojump said:

1) What Coil is today is pretty different on what they want to be in the future:

Coil today:

  1. Recommend to read on their website for high level details: https://coil.com/about/.
  2. Customers pay $5 monthly subscription. In return, they get exclusive access to premium content if subscribers only flag the content for Coil subscribers to have access. The $5 Coil subscription is then evenly distributed to sites that are visited that have Coil plugin enabled.
  3. Current business model is flawed. At this time they probably only have a few thousand customers. The revenue generated from $5 subscription is so minimal, that it generates no way near as much as revenue from ads.  Which is where their business model fails, because they are targeting to be a alternative for ads (which currently isn't happening).

Coil in the future:

  1. Recommend to read Hodor's blog on this topic: https://coil.com/p/Hodor/The-Big-Deal/rVb7l8ang.
  2. There are a ton of huge opportunities, where XRP could be used in micro transactions through online/digital experiences. If even a few of these become mainstream, XRP usage and demand would sky rocket.
  3. These high level Coil goals are extremely vague at this time.  No concrete details, business model, actual development, pilots, etc. Very risky and most of these have low chances to be successful (based on current known information).
  4. Future Coil needs to resolve or get rid of current Coil business model. Pigeon holing Coil as an alternative to ads, will cause it to get destroyed by ad revenue options (Google, YouTube, Twitch, etc.).

2) On a high level, because they have to in order for them to actually get funded. 

  1. They have received some tradition funding so far- Ripple does have private investors funding their business at this time.  Coil did get 20 million crowd funded from Imgur.
  2. These XRP specific projects are high risk with little/to no evidence of ROI for most investors. Most investors would rather stick with SEC investments that have lower risks and/or better opportunities for ROI. No normal investor in their right mind would give Coil ~$265 million at this time.  Way to risky, revenue way to low, customer base way to low, flawed business model, etc.
  3. XRP funding gives Ripple quicker and more direct control over funding.
  4. Lastly, funding via XRP has a ton more benefits for Ripple and their partners.  They are able to sell XRP on the market (which is currently basically gathering funds from retail investors like us). There is little regulation that needs to be followed (presently). There are little risks if the projects don't add value or ROI to XRP community.  Lets say Coil company burns through ~$250 in a few years, with no benefits actually created. Coil can continue running their business as normal, sell, or close. They could indirectly funnel ~$15 million into increased salaries for their job roles, then retire as millionaires with no real risks.  This is of course if lawsuits and government regulations don't come into play.  If they are successful with XRP projects, they will probably retire as billionaires.

3) This is a common concern area, which there is not a lot of clarity.  I believe most or all community members don't fully know. My guess is that Ripple plans to take a small parcentage of the 1 billion XRP and give them to Coil (for them to sell on the market) over the next few years. So maybe out of Ripple's max escrow, 50 million XRP will be going to Coil every quarter for the next 5 years.

I'm inclined to agree that Coil appears to be quite venture-y in nature which is why the potential hesitation in funding from partners.  Additionally, the points you outlined in 2) make it seem like it has very security-like characteristics, perhaps not from the retail investor standpoint, but definitely so from Ripple's standpoint.

Unfortunately that all isn't very comforting. 

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I got on XRP back when it was over $3.. Not because it was a fly by night Alt-coin but because I saw the future of world finances being projected through the Ripple projects.  You nay-sayers are going to miss out.  Even back then you knew the Governments and Financial Institutions were trying to control Crypto. Well now look whats going on in Cryto,  Rules and Regulations to protect the investors. Ripple saw it why can't you.  XRP is the future..  Lokkup Ripple XRP in gematrix calculator = The Mark.. Lol... Not kidding. Get with the program

 

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On 8/25/2019 at 12:47 PM, Danny said:

Are you aware of the fact that the Bank of England is a paying customer of Ripple

Brad said they were a “paid” customer, not paying. Ripple are explicitly identified on BoE website as someone they formerly worked with. 

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On 8/25/2019 at 4:55 AM, mrhat75 said:

To pretend that Ripple is reliant on 'dumping' XRP to fund their operations is totally laughable. Not when they have hundreds of customers using a groundbreaking product (xCurrent) that blows the water out of anything that the financial system has been able to build since the 70s.

We just don’t know without some transparency from RL about non-XRP related revenues. I suspect if they were profitable without XRP they would say so. Do you think any of the other enterprise blockchain companies, R3, DA, Axoni etc are profitable yet?

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On 8/24/2019 at 9:13 AM, ZzZerper said:

So which morals related to XRP investment are important to you?

Well for one, bringing the unbanked of this world into the possibility of tapping into the massive economic engine of the world, #2, Donor's Choose (all those teachers are gonna go out an buy lambos, right?) This donation, btw, funded EVERY SINGLE CLASSROOM on the list, which impacted nearly 1 out of every six public schools in America, (BOLD for those asleep in the back, as obviously quite a few of you are)  #3, UBRI which will help further the educational opportunities of students interested in this tech, #4, lowering or all but eliminating the exorbitant remittance fees that foreign workers face, and which cannibalizes the money they so often use to support their families back home (those greedy peasants, right?), and certainly not last #4, $4 million to help begin the construction of a mountain gorilla sanctuary (who needs gorillas anyway, there's already more than enough in our zoos). OMG but xrp's price hasn't moved in nearly two yearrrrrs, they're flooding the market by expanding their liquidity, omg, I should've invested in BTC or ETH, omg, omg they're hiring too many brilliant people and opening offices all over the world when they should be focusing on making me some quick money, omg, omg at this rate I'll never be able to get MY lambo...... 

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On 9/8/2019 at 12:46 AM, ZzZerper said:

Brad said they were a “paid” customer, not paying. Ripple are explicitly identified on BoE website as someone they formerly worked with. 

My mistake, you are correct. I couldn't resist contacting BoE to ask them about the details and this is what they replied to me this morning:

We can confirm that the Bank of England (the ‘Bank’) does not have a current relationship with Ripple, and that the Bank does not use, license or operate any Ripple software. 

In the first half of 2017, the Bank undertook a proof of concept (‘PoC’) exercise with Ripple.  This was one of many PoCs which it undertook with several companies.  The PoC looked at how Ripple’s Interledger Protocol might be used to synchronise payments across two RTGS (Real-time gross settlement) systems and was conducted on segregated technology and was not connected to any of the Bank’s live payment systems.  The products used at that time were Ripple Connect and the Interledger Protocol.

Both of the above mentioned products do not use, or require XRP cryptocurrency and I can confirm that the Bank did not purchase, hold or handle XRP as part of that work.   Further details about the PoC are in the relevant news release which can be viewed on the Fintech section of our website at: www.bankofengland.co.uk/research/fintech/-/media/boe/files/fintech/ripple.pdf

Kind regards

Public Enquiries
Bank of England


I also asked them if BoE would be using the RippleNet blockchain network in the future. They did not answer that unfortunately.

Edited by Danny

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