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itcdominic

The one issue with XRP that keeps me up at night

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6 hours ago, Freaky said:

Its clearly stated, XRP will not be used. 

"Westpac’s institutional bank, said the latest R3 tests are encouraging and the technology is working. But the use of blockchain for cross-border payments will not be adopted at scale until central banks issue digital versions of their own fiat currencies, he said. This would allow banks to transfer value on a distributed ledger using a currency backed by a central bank rather than having to rely on cryptocurrencies like Ripple’s XRP or bitcoin, which remain volatile.

“We would not want to use a cryptocurrency in real life as there is too much risk. We want something backed by reserve banks,” he said.

“If we had a currency created by the RBA – a digital Aussie dollar – that existed on a shared ledger, you don’t need the RBA in the middle saying it has credited one bank and debited another. The transaction is done between two banks directly. And we would only need to hold a fraction in digital currency of the millions of dollars held in nostro accounts all over the world right now.”

One minor detail you are leaving out. While Banks don't need to hold XRP or use it  the payments do. This is a key difference. xRapid, for example, doesn't require banks to use XRP. The liquidity just has to be there. - Joel Katz

Market makers provide liquidity. Banks provide volume. XRP isn’t marketed to banks. -Tiffany Hayden

Guys don't lose hope I have a feeling we are on the verge of something great!

 

 

 

Edited by Scout

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I've been around technology for over 30 years.
I know NDA's and have signed and created hundreds.
I know the IT world and the personalities that live and breath IT.
With this much publicly revealed activity and strong hints from Ripple leadership on a bigger undisclosed list of users/customers.....
Why is there not more credible leaks of info? - TRUE STORY....this stuff can be kept under wraps for months even years,  but not forever....there seems to always be loose lips.....where are they?  These APPLE rumors if actually had some truth would leak just like there are always leaks around product launches, iPhones always seem to get photographed and detailed functionality made public.....where are the leakers?
And what about insiders at Bank of America's IT world.....???   
I know I will get bashed for this....but this is what concerns me...... We are not getting leaked validation on some of the great rumors.
Yes this seems to contradict "Rumor and no validation".....but how does something this big not get leaked to mainstream media with anonymous sources that puts the mainstream media comfortable with printing the news?? especially with the failed push by Facebook to enter the crypto world.

Because in case of Ripple .... NDA stands for No Deals Ahead ....
Means there is nothing to leak ;-)


Verzonden vanaf mijn iPhone met Tapatalk

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1 hour ago, Scout said:

One minor detail you are leaving out. While Banks don't need to hold XRP or use it  the payments do. This is a key difference. xRapid, for example, doesn't require banks to use XRP. The liquidity just has to be there. - Joel Katz

Market makers provide liquidity. Banks provide volume. XRP isn’t marketed to banks. -Tiffany Hayden

Guys don't lose hope I have a feeling we are on the verge of something great!

 

 

 

Im not leaving any detail out,  the article clearly states the bank does not have the risk appetite to use crypto.

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OP is correct. It’s very unlikely that there are any major new partnerships under NDA. The chances of something like that being leaked are - give or take a couple of percentage points - around 100%.

On the other hand, the community tends to hype even the tiniest morsels of non-news. I expect there are some relatively uninteresting things we do not know about. And I expect those things will still get people quite worked up, fuel conspiracies etc.

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9 hours ago, Capone said:

It’s another sign pointing to a possible scam or should I say pointing to a frivolous project .

Its not a scam, they've made progress. Its just never going to hundreds or thousands of dollars or taking over the world like some of those idiot dot connectors think.

I mean there's a large group that freaking believe in Gematria is DS giving away signals or some nonsense like that. Go figure.

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3 hours ago, Freaky said:

Im not leaving any detail out,  the article clearly states the bank does not have the risk appetite to use crypto.

For now. There is nothing that suggests that XRP is the best solution for high volume - high value cross border payments,  because XRP liquidity is so low right now. But that could change in the future and Westpac will change their tune, once regulations are more clear and XRP liquidity is enough to ensure high savings for them.

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12 hours ago, itcdominic said:

Why is there not more credible leaks of info?

It could be that there's nothing to leak.

12 hours ago, itcdominic said:

These APPLE rumors if actually had some truth would leak just like there are always leaks around product launches, iPhones always seem to get photographed and detailed functionality made public.....where are the leakers?

I've seen numerous of those "leaks" throughout the years in tech and I'm pretty sure while initially these were real leaks they are mostly a marketing tactic. People like to have the feeling they've seen "secret" information. It's like clickbait titles in youtube videos.

12 hours ago, itcdominic said:

We are not getting leaked validation on some of the great rumors.

If the information is really strategic and you're an employee of such a company or entity and know it'll hurt its market position (and indirectly your money, be it paycheck, options, ...) I doubt there will be leaks.

7 hours ago, lysistrada said:

My assessment of his source on this leak was that - most likely - he had contact with some sort of Russian hacker who had a RAT installed on the computer of one of the paralegals working for the MG or Ripple lawyers overseeing the transaction.

Or he made an educated guess. Or just made a lot of them and got one right. This community tries to connect way to much dots and comes up with the craziest stories to back those.

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One thought I have on this is that it could come down to scale. People leak things from Apple, Google et al because they are massive companies with millions of eyes on them at all times. Information when it comes to those companies and what they're doing means a lot to those who disseminate said information - news sites, gossip outlets, whatever.

Ripple and XRP, for all their growth (apart from in price waheyyyy) are still small fry from the public's perspective. There's little actual appetite for the news that comes about as a result of digging for it, so all we end up with is a bunch of unprofessional, badly written crypto news outlets peddling horsecrap.

By no means do I think that's the full explanation, but I do think it's an element of how things stand. People - as in, the people, the populace, the everyday folks - don't care enough about Ripple for it to be worth someone leaking or someone else digging, in the most part.

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16 minutes ago, ianinthefuture said:

People - as in, the people, the populace, the everyday folks - don't care enough about Ripple for it to be worth someone leaking or someone else digging, in the most part.

Agreed. Basically this effort is only a blip of information ignored by the masses to date. It’s not to crypto enthusiasts but, to the masses, they will know of BTC at best.

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1 hour ago, SquaryBone said:

Or he made an educated guess. Or just made a lot of them and got one right. This community tries to connect way to much dots and comes up with the craziest stories to back those.

I've analyzed that situation very thoroughly.  He indicated he had a "source" and the manner in which he got the prediction both right and wrong is consistent with there being a language barrier.  Crypthawk's native language is English and he's UK-based. He received massive backlash when making the prediction.  He defended the prediction in a way that was not consistent with a guess.  He was deeply adamant which is why it caught my attention.  Before he was proven somewhat right, I had deduced he either had a credible source or he was borderline unstable. He defended his position as a hill to die on, which is not what you do with a mere guess when you are trying to build an online reputation as a crypto guru.  You hedge your guess with qualifying alternative scenarios.  He doubled down on his position when everyone - even actual Ripple insiders - called him crazy.  And then he ended up being mostly right. That prior source is also entirely dry now, it seems.  There were also other indications that back up my hypothesis.  You would have to be deeply familiar with that very specific set of events to understand why I reached this conclusion.  I don't have a tinfoil hat on here.  Maybe just like a little tinfoil. Incidentally, I do have extensive experience with Russian hackers and how they randomly happen upon information.  But if you were deeply familiar with the situation and the individual I mention, you'd know that the proposition of him making an "educated guess" is actually much more outlandish than my explanation.  The guy understands technical analysis of financial markets, but he's not a strategic mind when it comes to the nature of Ripple.  He's the opposite. He doesn't care at all about the tech or the nature of the company behind XRP.  In fact, he fights with people like that; like me.  

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12 hours ago, lysistrada said:

I don't intend to disagree with the overall sentiment of your statement.  My experience is that - by and large - things of significance do tend to get leaked.  I agree.

I will just note here, however, that the largest Ripple announcement was with regard to Moneygram and the only "leak" came from a relatively obscure crypto personality called CryptHawk (who is much less obscure now since being the leaker) who only sort of got it right.  My assessment of his source on this leak was that - most likely - he had contact with some sort of Russian hacker who had a RAT installed on the computer of one of the paralegals working for the MG or Ripple lawyers overseeing the transaction.  This was a major event for Ripple and MG.  This was the most significant event thus far in crypto, IMO, with regard to mainstream adoption.  And the sole leaker was largely dismissed - mainly by the XRP community - and the leaker himself was a very obscure, relatively irrelevant individual who leaked the information.  This was no actual insider.

Here's what I think:  I think Ripple/XRP news is big for US.  But I think - by and large - comparing Ripple/XRP/Crypto news to Apple's iPhone model releases is a massive overestimate of the majority of the population's concern over Crypto.  Virtually everyone knows what the Iphone is.  By and large, most people don't know what Ripple or XRP is and - as far as bitcoin/crypto goes - most people still just don't care.  As such, it's just much less prone to leaks.  I think your error here is an error of scale. It would be leaked if there were really that many people who cared.  Yes, the "XRParmy" seems large to the crypto space, but the crypto space is still very, very small.

That said, I do think most of the partnership rumors are BS.  But I don't think a massive partnership would necessarily be leaked in any significant way or at all; at least not now.  We've seen a big one go largely unnoticed until it was a done deal.  

Good point of discussion, however.

 

 

 

 

Couldn't agree more! 

This is 100% accurate.. You can't compare crypto to any other business like Apple for instance.
We care about crypto but 99% of the people around the world can't understand bitcoin let aside XRP..

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10 hours ago, Scout said:

Guys don't lose hope I have a feeling we are on the verge of something great!

 

 

 

I'm holding on to "Hope"....holding on tight, holding, holding, holding.....I keep telling myself "Verge of something great, Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great,Verge of something great!!!!!!!!!!!!!!!!!!!!!!!!!"

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19 hours ago, Spartaksus said:

Do you know what was the best indicator for me? DS de-risking strategy. If one of the most important Ripple employees, insider, reduces his stack it means only one thing, in the short and medium term we can´t expect any significant increase of price.

Even the best NDA will not protect you from greed of insiders.

 He derisked a few weeks/months before the moneygram announcement (one of the biggest utility news in crypto overall IMO) - this doesnt add up to your logic

And even the price did not pump on the moneygram news - xrp went to 0.50 some time after DS sold a minuscule amount of his stack at ~0.30

If at all, DS derisking turned out to be bullish

Key ripple employees cant afford to sell on/after big announcements - well that would really put a shady touch on them IMO

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