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What Ripple means when they say a company is "using" XRP

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Dharma seems to work mainly on interfaces for DeFi products, others are working with ILP developing interoperability, not touching directly xrp, but those products are necessary to expand the use cases of XRP

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Posted (edited)

The arguments I read in this thread that Ripple invests on business that only use xrp for financing is nonsense, even if they do use it for financing, it’s to finance development necessary to achieve the IOV vision, a vision that has XRP as an important component, but it’s not the only piece. Stop looking too close up and see the big picture  

Edited by Odiseo

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3 hours ago, panmores said:

Ripple-approved quotes

What does this phrase imply?  That Marcus Treacher must clear his communications with others at Ripple?

 

3 hours ago, elias said:

Nothing about Dharma or xPring in there. He does mention Euro Exit Bank.

"The bank uses blockchain, combined with XRP, to provide clients with on-demand liquidity for international transactions."

However I'm forced to wonder which blockchain ... and in what sense are they using XRP.

"Every entrepreneur will use the digital asset XRP and the XRP Ledger, the open-sourced, decentralized technology behind XRP, to solve their customers’ problems in a transformative way."

Do you believe Ripple have changed the focus for xPring, or would they stand by this statement even today? If so, do you not consider that at all deceptive?
 

 

I counter-posted evidence that XRP is being used, in response to the OP's thread title.

Re: Euro Exim:

Quote

However I'm forced to wonder which blockchain ... and in what sense are they using XRP.

What do you mean by this? 

The quote from Euro Exim is just about as clear as possible... they indicate they're using blockchain tech + XRP.  

Re: Dharma:

This entire thread ignores 90% of very clearly XRP-beneficial projects that Xpring is responsible for, and on the one where people can't seem to draw out the big picture. Here's how much I'm worried about it: -0-


Nobody posting here (including me) knows anything further than what's publicly available. 

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13 hours ago, TheEmotionalInvestor said:

So you think it’s ok to bully people on the internet do you ? Next you’ll be telling me to commit suicide. Not cool. 

 

Gee’s here you go with bullying sketch again!  

Your rights blah blah, stop it, you’re  making me spit beer out🍺

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1 hour ago, Odiseo said:

If Xpring says “we are going to invest only on companies that develops on the car industry”, and they invest on companies that creates roads or traffic management, which don’t touch cars directly, will they be misleading? I don’t think so. Dharma and others creates products that can be used with XRP, so indirectly they do are working developing xrpl.

If they literally say 'Every entrepreneur will use the digital asset XRP and the XRP Ledger' and then about 90% of the projects have nothing to do with that, apart from Wietse's XRPL Labs project (which by the way got probably the least amount of money), then no matter how you slice it - it's misleading (and this is politely put).

Can they simply change their investing strategy? Absolutely, it's their money/XRP. Was it communicated in the same way the initial Xpring initiative was announced? Absolutely not. Should we really care? Normally I wouldn't care at all if Brad wasn't arrogantly bragging all the time about 'transparency' etc. and then continually misleading with tweets, the latest one being Dharma.

And no, most of the products sponsored can't be used with XRP. What Ripple are doing is pretty much VC - which is arguably alright, just annyoing that they are selling it to the community as if they are paving the way for XRPL.

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1 minute ago, Hodor said:

What does this phrase imply?  That Marcus Treacher must clear his communications with others at Ripple?

 

I counter-posted evidence that XRP is being used, in response to the OP's thread title.

Re: Euro Exim:

What do you mean by this? 

The quote from Euro Exim is just about as clear as possible... they indicate they're using blockchain tech + XRP.  

Re: Dharma:

This entire thread ignores 90% of very clearly XRP-beneficial projects that Xpring is responsible for, and on the one where people can't seem to draw out the big picture. Here's how much I'm worried about it: -0-


Nobody posting here (including me) knows anything further than what's publicly available. 

we had a thread on this same subject just a few weeks ago with the same conclusions. 

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1 hour ago, Odiseo said:

The arguments I read in this thread that Ripple invests on business that only use xrp for financing is nonsense, even if they do use it for financing, it’s to finance development necessary to achieve the IOV vision, a vision that has XRP as an important component, but it’s not the only piece. Stop looking too close up and see the big picture  

Unfortunately the only picture they look at is the price of the coin 

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Posted (edited)
2 hours ago, Odiseo said:

If Xpring says “we are going to invest only on companies that develops on the car industry”, and they invest on companies that creates roads or traffic management, which don’t touch cars directly, will they be misleading? I don’t think so. Dharma and others creates products that can be used with XRP, so indirectly they do are working developing xrpl.

If you are referring to Automobile industry, when you mention "Car Industry" in this scenario, then yes that would be misleading.  This seems like another scenario where posters are making up new terminologies for terms, that are not formally accepted (example: when people say XRP owners are not investors).

See the following: https://en.wikipedia.org/wiki/Automotive_industry.

Quote

Automobile industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles.

Quote

The automotive industry does not include industries dedicated to the maintenance of automobiles following delivery to the end-user, such as automobile repair shops and motor fuel filling stations.

Noting this exclusion, then clearly creating roads and traffic management are not included in the automobile industry.  Now see road and highway construction industry: https://teamcoact.com/learning-center/construction-industry-trends/.

Creating cars vs. construction for roads and highway are two very different things, formally broken down into different industries.  So this would be a great example of being misleading.

 

The same can be applied to XRP.  XRP is a cryptocurrency utilizing blockchain concepts. Since XRP has as trading market value, it can literally be exchanged for fiat for anything else of value.  If XRP investors do not follow the goals communicated from Ripple on Xpring like "Every entrepreneur will use the digital asset XRP and the XRP Ledger", rather they just sell XRP for funding to work on non XRP/XRP Ledger initiatives, then this is misleading.

 

Now what confuses me more in this example, on Dharma's website this is mentioned in the What is Dharma Section (https://www.dharma.io/faq):

Quote

Dharma is the easiest way to save money from anywhere in the world. Create a Dharma Account in minutes, deposit and withdraw USDC and DAI anytime, day or night, and earn interest instantly. Coming soon, users will be able to easily borrow against their crypto at a fixed interest rate.

Are they actually working on this functionality?  Will this include integration with XRP? 

 

Another section says this for their upcoming v2. So is the funding provided by Xpring actually being used to help integration with XRP?  Sounds like other coins like USDC, DAI, and Bitcoin are in the development plans, but no evidence of XRP.

Quote

 

What is Dharma V2?

Built using the Compound Protocol, Dharma V2 enables anyone with an internet connection to earn interest on their USDC and DAI. Currently in closed beta, the new Dharma lets you:

Start earning interest the moment you deposit funds

Withdraw your funds anytime, day or night, with no lockups

Borrow against bitcoin and ether indefinitely at a fixed rate [coming soon!]

 

 

 Clearly between Ripple and Dharma, one of the two parties is not aware of the initiatives being worked on that relate to XRP.

Edited by wogojump

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I'm perfectly fine with xPring investing in the wider crypto ecosystem. I wonder how Dharma fits in here.

Are they just implementing ILP and thereby not implementing XRP specific features? I'd expect them to have further clarified this. It sounds like it was just an investment.

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13 hours ago, Atomic1221 said:

Why do people keep saying it will be dumped in one go? If 500k BTC is actually handed over it’ll likely be an estate lawyer that will be managing the sale of the coins. That’s IF they decide to sell at all.

 

And if they do sell it it would never be all in one go unless it was a private sale OTC which totally doesn’t affect the market at all.

I just want to understand where all these dumping assumptions come from. Maybe I’m missing a key fact here or something?

OTC does affect the market indirectly. It removes demand from non-OTC as the demand is already fulfilled.

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17 minutes ago, SquaryBone said:

I'm perfectly fine with xPring investing in the wider crypto ecosystem. I wonder how Dharma fits in here.

Are they just implementing ILP and thereby not implementing XRP specific features? I'd expect them to have further clarified this. It sounds like it was just an investment.

Based on reading Dharma's website and their twitter reply, it seems like that is the most likely case.  If this ends up being true, then this would make Brad's comment false and misleading when referring to Dharma:

Quote

2/ XRP sales are about helping expand XRP's utility - building RippleNet & supporting other biz building w/XRP ie Dharma & Forte.

 

 

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5 minutes ago, wogojump said:

Based on reading Dharma's website and their twitter reply, it seems like that is the most likely case.  If this ends up being true, then this would make Brad's comment false and misleading when referring to Dharma:

You learn fast.  Couching this baseless accusation/supposition in conditionals ("IF my wild-ass boolsheet IS NOT boolsheet, THEN Brad's a liar") is a step up for you guys.

Congratulations, you earn the BASIC FUDDER badge!  :Laie_16:

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Posted (edited)
2 hours ago, iLeeT said:

If they literally say 'Every entrepreneur will use the digital asset XRP and the XRP Ledger' and then about 90% of the projects have nothing to do with that, apart from Wietse's XRPL Labs project (which by the way got probably the least amount of money), then no matter how you slice it - it's misleading (and this is politely put).

Can they simply change their investing strategy? Absolutely, it's their money/XRP. Was it communicated in the same way the initial Xpring initiative was announced? Absolutely not. Should we really care? Normally I wouldn't care at all if Brad wasn't arrogantly bragging all the time about 'transparency' etc. and then continually misleading with tweets, the latest one being Dharma.

And no, most of the products sponsored can't be used with XRP. What Ripple are doing is pretty much VC - which is arguably alright, just annyoing that they are selling it to the community as if they are paving the way for XRPL.

Absolutely spot on.

I don't buy the NDA arguments either. I'm not discounting the possibility that there may be a few partnerships under NDA, but from many years in business I can say honestly, NDAs don't work - they invariably get leaked, and it usually doesn't take long. It is much more likely that there isn't much under NDA.

That likelihood aside, perhaps I'm a little confused about the Dharma Partnership. Given the fact they are not using XRP/L, it seems no different than if Xpring were to gift the Ethereum Foundation multiple $millions. Am I'm missing something? I mean, I'm sure Vitalik would be very grateful, and I'm sure Xpring could benefit *financially* in some way from such a partnership, but it wouldn't do the tiniest thing to fulfil Xpring's primary remit:

Quote

“Xpring is a new initiative by Ripple that will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs. Every entrepreneur will use the digital asset XRP and the XRP Ledger, the open-sourced, decentralized technology behind XRP, to solve their customers’ problems in a transformative way.”

This is patently untrue at this point. As per the above quote, it is a *condition of investment* and the main reason for Xpring's very existence. Making the assumption that Xpring's startups are - in spite of their flagrantly ignoring XRP/L - nonetheless loosely investing in the XRP ecosystem are fluffy at best. The most important criteria for investment is clearly and simply not being fulfilled. 
 

Edited by JA8

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Posted (edited)

"Mom, Ripple won't violate its NDA's and neither will whomever has NDA's with them!  It's not fair, Mom!  How am I supposed to concentrate when school starts back?!"

The more mature (well...) version of that is like:

"Yes, from my experience, with the people whom I've dealt over my years in business, NDA's aren't honored and nobody can keep a trade secret.  I don't know why that is... huh.  Anyway, I sure wish that the awful experience I've had with those was visited upon Ripple, so I could feel better about my XRP."

:JC_out_cold:

Edited by NightJanitor

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9 minutes ago, NightJanitor said:

"Mom, Ripple won't violate its NDA's and neither will whomever has NDA's with them!  It's not fair, Mom!  How am I supposed to concentrate when school starts back?!"

The more mature (well...) version of that is like:

"Yes, from my experience, with the people whom I've dealt over my years in business, NDA's aren't honored and nobody can keep a trade secret.  I don't know why that is... huh.  Anyway, I sure wish that the awful experience I've had with those was visited upon Ripple, so I could feel better about my XRP."

:JC_out_cold:

To be fair to you, I can infer from the above you don't have very much real-life business experience. The rest of it is lost on me, I'm afraid.

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