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WyattXRP

ODL and HODL

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I have a question about the existing ODL providers.  Presumably to be an ODL provider you need to keep an inventory in XRP.  Doesnt that mean that all the ODL liquidity providers have taken a huge bath recently?  

What is the incentive to become a major ODL provider if the value of your inventory can plunge like XPR has?  I must be missing something so please help me understand.  I am in this all the way to the moon with all of you great people.

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Today I visited Moneygram website to check the fees to send money from USA to Mexico. You can send 100 USD with fee of $5. Is it the cheapest way to send money by ODL? ))) Explain to me if I am wrong.

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47 minutes ago, Fidel_Castro said:

Today I visited Moneygram website to check the fees to send money from USA to Mexico. You can send 100 USD with fee of $5. Is it the cheapest way to send money by ODL? ))) Explain to me if I am wrong.

Moneygram are only putting a small portion of their volume through ODL in limited (maybe still only one) corridors.  This is because liquidity is only slowly building...  as it builds they will send more which should create a virtuous circle.

Also you should realise that just because Moneygram’s costs drop doesn’t immediately and automatically mean the customer sees that fee drop.  They will probably drop it as slowly as they possibly can...  they are trying to maximise profits.

So I’m not sure if I’ve answered your imperious ‘explain to me if I am wrong’ because I’m not sure what your point was.  Anyway...  I hope you have a prosperous new year.

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In viewing the two order books right now, Bitso is just under $200k in bids, whilst BS has $700k in the actionable price range.

This must be what's constraining them from amping up the ODL usage. I'm betting we'll be seeing this improve in the coming weeks. MGI must be chomping at the bit !

And happy new year Tiny :)

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