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Will ODL cause an increase in price? Some thoughts..


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10 minutes ago, SamIam said:

Interesting discussion. Nik leads the XRPL development team. That's an entirely different world from sales and business development. I'm sure he has a pretty good idea - not all the pieces. I think it's funny you guys are talking about gift cards being a use case. Did you forget about Interledger?

Will the central banks try and come up with their own solution to remain relevant? Of course they will. Does that guarantee their success? Far from it. Ripplenet levels the playing field and if you hadn't noticed this evolution is happening from the bottom up. Sure it leverages the existing CB infrastructure today, but that's because the network effect with Crypto, and banks holding it, hasn't taken hold yet. When it does there will be no place for them, or at least not in the same capacity they exist today.

That said it's a real threat that may capture some of the cross boarder market. Look at BRICS, that's exactly what they've been working towards and starting to execute - sans CBDCs. So sure they will capture the larger markets because that's their low hanging fruit.

However, look at what the woman from Bitso had to say about her region. Do you think they're going to be happy with a CBDC solution? Of course not, it won't serve them or solve their current problems. Ripplenet will. Like it or not, Big banks are on the short end of this stick. Look at the announcements:

This is the future of banking. Why do I need a traditional bank account if I can have the functionality in a wallet on my phone? Need physical fiat? How long before Moneygram and ATMs offer conversion services? This entire space is about to be turned on it's head by Ripple, and that's just the first wave. ILP is the second.

 

The SDR was intended to be used as an instrument of trade, i.e. exchanged for commodities like oil. The reality is, they either get stored away by the larger countries that don't need them, or they get cashed in by the smaller countries that do. Used in commerce they are not, and this is why they were a failure. AFAIK, open markets don't have the infrastructure to hold/possess SDRs.

 

 

Thanks for a very informative post

My view is that the Ripple/XRP steam roller is now rolling and there is nothing big enough to even slow down its gathering momentum.  As you point out it is building from the bottom up, but the advantages are so obvious that it will just go on growing and growing however much the CB and Big banks resist (if they really are that naive/stupid).  Just like air travel took over from shipping lines, and digital phones took over form analogue phones.

I have heard discussion (JC Collins) that a token might be provide specially for SDR transactions.  I was wondering if they were traded because I was wondering how that would work in practice.  They aren't, which probably explains why they have survived.

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Buys and sells of XRP are made with a spread of some basis points. When $1Billion per day is being transferred around the globe using ODL even at 10basis points spread, someone is earning $365million

*Longish post warning* Okay so we're all speculating that in the long term, ODL will ultimately drive a higher price. But how can that happen? What we've seen so far is that there is, currently,

It seems like there are multiple, concurrent events that will drive the price of XRP upward.  Increasing ODL liquidity needs would gradually create the perception of value and scarcity that is necessa

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Exactly, it's a steam roller that's coming, you ether get out of the way, get on board, or get crushed. No matter how big, banks can't ignore technology that cuts costs in half while giving greater reach and capabilities.

What do you suppose will happen in these smaller countries when all of a sudden moving money in and out is cheap, fast and easy? It will be like pressing the nitro button on their economic engine in a lot of respects. Once they start gaining traction and momentum, do you think they will turn to the CB paradigm that ****** them over for decades or stick with the technology that got them there?

It's not just global finance getting turned on it's head, but the global balance of power is about to be re-balanced in the coming years as well.

 

 

 

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20 minutes ago, SamIam said:

Exactly, it's a steam roller that's coming, you ether get out of the way, get on board, or get crushed. No matter how big, banks can't ignore technology that cuts costs in half while giving greater reach and capabilities.

What do you suppose will happen in these smaller countries when all of a sudden moving money in and out is cheap, fast and easy? It will be like pressing the nitro button on their economic engine in a lot of respects. Once they start gaining traction and momentum, do you think they will turn to the CB paradigm that ****** them over for decades or stick with the technology that got them there?

It's not just global finance getting turned on it's head, but the global balance of power is about to be re-balanced in the coming years as well.

 

 

 

I couldn't put it better.  The revolution starts with the freedom given to the backwaters who have been excluded by the old system.  In the 2030's they will be the tiger economies.

 

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This thread is lovely, bizarre.

The SDR is reviewed every five years. The last review was November 2015. XRP is 'the' bridge asset. If there is going to be a seismic change in the basket, it would be XRP in my opinion but it meets none of the current SDR qualifications not to mention as the world continues to create bloc-currency channels this will be hard to swing regardless of who the IMF Chief is. As far as how XRP plays v. CBDC the greatest danger is the pattern of innuendo that has plagued us since early January 2018. I'm not sure XRP was ever a sure thing but by the way things were presented it sure seemed like a sure thing. CBDCs weren't in full swing in 2018. Adapting became surviving pretty quickly and the price says it all. It won't make it to the IOV stage at this rate the way this has transpired in my opinion. Hope to be wrong.

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Conclusion, banks and their fiat money belongs to the past, future belongs to gold standard and digital currencies. That's it. I bet on XRP becuase Ripple actually built everything for this shift. GG WP.

Edited by Xill
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1 hour ago, SamIam said:

This is the future of banking. Why do I need a traditional bank account if I can have the functionality in a wallet on my phone? Need physical fiat?

Just playing devils avocate ( I’m a banker 😇):

- I already have 2 apps with full functionality ( instant payments, mortgages, insurance, self servicing almost every financial aspect) from 2 largest banks in the Netherlands. Better than existing crypto exchange apps ( eg Binance, Kraken, Coinbase). These traditional banks are in fact far ahead of some fluffy fintech startups.

- wait untill AML and KYC regulations kick in for fintech startups. It will kill them, as it cost days of work just to onboard a new client and get the mandatory central bank reporting up to their standards. 

- physical fiat?? I have had none of that last 10 years. Can’t even give € 1 to a child at my door for the local football club. More than 90% of fiat and payments is digital, it has been for years now. 

Never underestimate the enemy, lol. 

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2 minutes ago, Ripple-Stiltskin said:

Just playing devils avocate ( I’m a banker 😇):

- I already have 2 apps with full functionality ( instant payments, mortgages, insurance, self servicing almost every financial aspect) from 2 largest banks in the Netherlands. Better than existing crypto exchange apps ( eg Binance, Kraken, Coinbase). These traditional banks are in fact far ahead of some fluffy fintech startups.

- wait untill AML and KYC regulations kick in for fintech startups. It will kill them, as it cost days of work just to onboard a new client and get the mandatory central bank reporting up to their standards. 

- physical fiat?? I have had none of that last 10 years. Can’t even give € 1 to a child at my door for the local football club. More than 90% of fiat and payments is digital, it has been for years now. 

Never underestimate the enemy, lol. 

Banks will die after the next crisis. When Ripple says "Banks are here to stay" they tease them. 

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6 minutes ago, Ripple-Stiltskin said:

Just playing devils avocate ( I’m a banker 😇):

- I already have 2 apps with full functionality ( instant payments, mortgages, insurance, self servicing almost every financial aspect) from 2 largest banks in the Netherlands. Better than existing crypto exchange apps ( eg Binance, Kraken, Coinbase). These traditional banks are in fact far ahead of some fluffy fintech startups.

- wait untill AML and KYC regulations kick in for fintech startups. It will kill them, as it cost days of work just to onboard a new client and get the mandatory central bank reporting up to their standards. 

- physical fiat?? I have had none of that last 10 years. Can’t even give € 1 to a child at my door for the local football club. More than 90% of fiat and payments is digital, it has been for years now. 

Never underestimate the enemy, lol. 

You're correct. There is no steam roller. There's a lot of technologies and companies looking to disrupt the banking sector, but most banks are fully aware of these and are taking action in order to become more modernized and competetive. When push comes to shove, it all comes down to the consumer, and tbf I think most people today with mortgages are satisfied with their bank.

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9 minutes ago, Xill said:

Banks will die after the next crisis. When Ripple says "Banks are here to stay" they tease them. 

I think you are on the wrong forum. Sounds like BTC is more your thing.

We get the issues with our financial system, but repeating the same 'Banks will die' - 'Fiat is over' - 'Research how economy works' - 'Crypto will be no'1 after the next recession' all the time makes you sound like a bot. It's nice you caught those phrases on youtube, please stop repeating it over and over.

Banks will not disappear (where are you going to get your mortgage on the house or business loan, crowdfunding?), but hopefully they will transform for the better in due time.

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5 minutes ago, XRPloverboy97 said:

You're correct. There is no steam roller. There's a lot of technologies and companies looking to disrupt the banking sector, but most banks are fully aware of these and are taking action in order to become more modernized and competetive. When push comes to shove, it all comes down to the consumer, and tbf I think most people today with mortgages are satisfied with their bank.

HAHAHAHA. 

The only thing the banks can do is to go bankrupt, ask money from Central Banks, Central Banks print money, and just give the banks who just went bankrupt. they inflate the supply, causing the real money which is gold to skyrocket. gold chart says everything.

 what a healthy way for the economics.

 

RIP BANKS! RIP!

 

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2 hours ago, Caracappa said:

I think you are on the wrong forum. Sounds like BTC is more your thing.

We get the issues with our financial system, but repeating the same 'Banks will die' - 'Fiat is over' - 'Research how economy works' - 'Crypto will be no'1 after the next recession' all the time makes you sound like a bot. It's nice you caught those phrases on youtube, please stop repeating it over and over.

Banks will not disappear (where are you going to get your mortgage on the house or business loan, crowdfunding?), but hopefully they will transform for the better in due time.

Mortages and Debt are the reasons for a crisis. stop looking at it as it's good  because it's not.  How can it be good if this what leads to a crisis? please educate me

 

Maybe you are at denial phase,  biggest scam of history by the people who give you loans and mortages. what a *** joke


 

 

BTW, BTC and XRP both created on the same fundamentals. maybe you should sell your XRP and buy FIAT

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Just now, Ripple-Stiltskin said:

Ah no, that will take ages. Please invest more time in educating yourself..................“ Luke, I’m not your father” . 

thats the answer when you cant face with facts.. go on father

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26 minutes ago, Ripple-Stiltskin said:

Just playing devils avocate ( I’m a banker 😇):

- I already have 2 apps with full functionality ( instant payments, mortgages, insurance, self servicing almost every financial aspect) from 2 largest banks in the Netherlands. Better than existing crypto exchange apps ( eg Binance, Kraken, Coinbase). These traditional banks are in fact far ahead of some fluffy fintech startups.

- wait untill AML and KYC regulations kick in for fintech startups. It will kill them, as it cost days of work just to onboard a new client and get the mandatory central bank reporting up to their standards. 

- physical fiat?? I have had none of that last 10 years. Can’t even give € 1 to a child at my door for the local football club. More than 90% of fiat and payments is digital, it has been for years now. 

Never underestimate the enemy, lol. 

My guess is that KYC/AML will signifcantly increase costs for all Fintech startups, regardless of how efficient they will be. XRParrot(wietse wind exchange) had to close because of new regulations. People are always waiting for 'regulations' in crypto as if it has to be good. Some of them can be downright bad.

As for physical fiat, I really haven't used it that much in the last decade either. Everything is going digital and transferring money doesn't involve physically moving anything, its just a debit/credit system. That's why is liquid corridors where there are plenty of market makers, I don't really see the need for a bridge currency. But physical fiat is still needed, as least in case of emergency. What happens if there is a blackout in a city or a region? Do you just completely stop doing transactions?

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