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Chris_Reeves

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

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38 minutes ago, 1776isHere said:

No idea what you are saying here.

Yeah. We know. No need to belabour the obvious. I'm really sorry I wasted the minute of my life to deign to reply.

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1 hour ago, XRP_to_20dollars said:

We have got to a point were most reasonable people understand that ODL will not increase the demand for XRP. Billions, BILLIONS, of XRP are already sitting dormant on exchanges ready to provide liquidity for whoever needs it, without the need of any more being bought by the exchanges. 

Um, er,  does that mean I am not reasonable?  Because I don’t agree with that statement.  I think EXACTLY that ODL will increase the demand for XRP.

Those billions of XRP are not in one giant wallet.  They are distributed over a number of entities some of which are actually representing the holdings of tens of thousands of users.

If ODL volume ramps up as I expect it will,  then if even one large entity begins to use XRP as its bridge currency,  then I can see a large increase in demand.  To some extent what happens next is then in the hands of the very largest stakeholders.  I’m pretty sure they would like to see rising price.  So time will tell.  
 

Sad times if you are desperately watching today’s price (I am,  I suppose...  :) ) but that’s solely because of short term crypto shenanigans...   overall the future looks bright to me.

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1 hour ago, 2ndtimearound said:

According to that chart, houses are actually MORE affordable today in the USA than in recent decades (biggest gap between earnings outpacing house price increases).

I call bovine fecal matter on that one.  

For one, the subprime meltdown in 2008 showed us that people were stretched to the limit.  Since then, the fed slashed interest rates to near zero.  That's the ONLY thing making housing "affordable".  You might argue "well then, just keep interest rates low".  That's not possible if you want a healthy economy that follows a market cycle.  That cycle usually includes a recession.  A recession requires a 4% to 5% slashing of the fed funds rate to stimulate the economy.  The fed does not have that luxury. 

Here's my second point: you can't make debt cheap and not expect house prices to inflate beyond wages.  It's a one way ratchet though - you lock people into mortgages they can afford at a low rate, but they will default at a SLIGHTLY higher rate (see 2008, except 2008 had normal lending rates, we don't even have that today!). 

Also, not sure why you've changed your mind from one chart to another.  First you agreed with the chart I showed, now you contradict yourself and agree with the chart above.  I've studied housing markets for around 10 years and it's not pretty as to what is going on.  It's basically a massive social engineering experiment where younger generations are less likely to have children (can't afford them, don't own a home). If you want to cheerlead the housing market and say "there's nothing much to see here", then feel free to plough that lonely furrow.  I don't see the point in that really.  The thing you can't answer is "what if the Fed tries to normalise interest rates?" (i.e. 4% to 5% fed funds rate).  We all know they can't do that.  House prices need to CRASH if we are to get normalised interest rates again. 

No, housing includes both rent and buying. Renting probably has become more affordable in most places while buying a house may have become more expensive.

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18 minutes ago, Archbob said:

No, housing includes both rent and buying. Renting probably has become more affordable in most places while buying a house may have become more expensive.

Rent is always correlated to house prices.  The renter is paying the landlord's mortgage and costs. 

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15 minutes ago, Tinyaccount said:

Those billions of XRP are not in one giant wallet.  They are distributed over a number of entities some of which are actually representing the holdings of tens of thousands of users.

What difference does that make? As long as the exchange has the coins they have permission to buy and sell them as they wish. They can do whatever they want with them. They can move them around however they want. They can even earn interest on your "holdings." All they are obliged to do is allow you to withdraw the valid amount when you choose to do so. 

There is no need for exchanges to buy more XRP. 

The exchanges are making money by charging exchange fees and acting as MM themselves. Ripple make money by charging fees on ODL. Holders are left cheering along whilst earning nothing and just watching XRP be bought and sold instantaneously from a near endless supply of already available liquid assets provided by me and you. 

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41 minutes ago, XRP_to_20dollars said:

What difference does that make? As long as the exchange has the coins

So under your understanding what happens when they trade them to someone for something and that someone withdraws them?

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1 hour ago, 2ndtimearound said:

Rent is always correlated to house prices.  The renter is paying the landlord's mortgage and costs. 

yeah, but they haven't risen nearly as fast, I rented in the early 2000s as well, the price didn't go up that much where I am.

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2 hours ago, Archbob said:

yeah, but they haven't risen nearly as fast, I rented in the early 2000s as well, the price didn't go up that much where I am.

Well, it did where I am (Holland). Nowadays buying a house with low intrest is way more affordable than renting one. Even with housing prices going up.

And perhaps not when going to the outskirts of the country, but I think both our views are determined by the places we live and not a single truth.

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5 hours ago, 2ndtimearound said:

I take a disliking to these kind of revisionist comments.  You sound like you knew XRP was going down from $3.50+ to 17 cents over a 24 month period, but somehow forgot to notify the public about the visions that came to you in the night.  I always reply to comments like this : it doesn't matter what you claimed to know about past events ahead of time, it matters what you know is happening in the future months ahead of this present moment - so do tell us what's happening next about XRP's price, so we can hold you to account properly. 

mea culpa

I never meant to hurt your feelings.

i have been in the financial markets since 2011.

i just came to the relatively quick conclusion that organic growth doesn't happen parabolically overnight. Combined with the fact that Bitcoin has a bear market of about one year after each of its new ATHs, I was relatively sure that XRP would come down again, and drastically so.

But I still miscalculated

I thought that the 0.28-0.30 cent barrier would hold, so my Trade XRP is also in the red.

But I'm also sure that we will see at least another 40-50 cents, so stay calm. I just want to cash out today instead of tomorrow. Because I like money, you know? :P

 

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4 minutes ago, Elysium2030 said:

mea culpa

I never meant to hurt your feelings.

i have been in the financial markets since 2011.

i just came to the relatively quick conclusion that organic growth doesn't happen parabolically overnight. Combined with the fact that Bitcoin has a bear market of about one year after each of its new ATHs, I was relatively sure that XRP would come down again, and drastically so.

But I still miscalculated

I thought that the 0.28-0.30 cent barrier would hold, so my Trade XRP is also in the red.

But I'm also sure that we will see at least another 40-50 cents, so stay calm. I just want to cash out today instead of tomorrow. Because I like money, you know? :P

 

It took me, coming from scratch, a full cycle to understand what a cycle is and to see parabolic growth always overshoots it's real value. Yet I also believe the following bearmarket can undershoot (is that a word?) an assets value, so the true value should be somewhere in the middle?

Ofcourse there should also be assets that should keep undershooting to near zero as value is purely speculation. Like majority of the crypto market.

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55 minutes ago, Caracappa said:

so the true value should be somewhere in the middle?

There is also the situation where that true value (if such a thing can exist) is climbing during one of these pendulum swings (up or down) because of fundamental improvements in the asset.

I believe that is the case for XRP.  We have seen year on year consolidated improvements in Ripplenet, other developments including Xpring and the ledger itself.  Whether the market is awake up to that is another thing however.  The market, like the law, is an ass.

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5 hours ago, Elysium2030 said:

mea culpa

I never meant to hurt your feelings.

i have been in the financial markets since 2011.

i just came to the relatively quick conclusion that organic growth doesn't happen parabolically overnight. Combined with the fact that Bitcoin has a bear market of about one year after each of its new ATHs, I was relatively sure that XRP would come down again, and drastically so.

But I still miscalculated

I thought that the 0.28-0.30 cent barrier would hold, so my Trade XRP is also in the red.

But I'm also sure that we will see at least another 40-50 cents, so stay calm. I just want to cash out today instead of tomorrow. Because I like money, you know? :P

 

Absolutely.  I honestly have no idea where XRP goes next in terms of price - at least the market has beaten me down to such a humble perspective. Gaining humility from investing in crypto is a gift I was not expecting, so I pay gratitude for my beating! I am the grateful victim here that my holdings are down and I expect nothing from them. 

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Could we spin this conversation back to @TiffanyHayden point: 

“My premise is that a multi-currency CBDC will be developed for cross-border payments and that Ripple will offer it as an alternative to XRP, similar to how Bitcoin was also a choice in the beginning. Ripple is a payments company and their commitment is to their customers.”

If you read recently released HK/Thai bank cross border results: 

https://www.ledgerinsights.com/hong-kong-thai-central-bank-digital-currency-cbdc/

This makes it seem like CBDCs on Corda can eliminate the need for nostro accounts through the use of Digital Receipts instead of a bridge asset like XRP. In this world, it would appear there's no need for XRP or ODL or, stablecoins...

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23 minutes ago, Ryyy20 said:

Could we spin this conversation back to @TiffanyHayden point: 

“My premise is that a multi-currency CBDC will be developed for cross-border payments and that Ripple will offer it as an alternative to XRP, similar to how Bitcoin was also a choice in the beginning. Ripple is a payments company and their commitment is to their customers.”

If you read recently released HK/Thai bank cross border results: 

https://www.ledgerinsights.com/hong-kong-thai-central-bank-digital-currency-cbdc/

This makes it seem like CBDCs on Corda can eliminate the need for nostro accounts through the use of Digital Receipts instead of a bridge asset like XRP. In this world, it would appear there's no need for XRP or ODL or, stablecoins...

Seems like more walled garden, counterparty risk fiasco.  Also cumbersome.  I am no expert, but the elegance is not there. Doesn't mean some rogues may not try it?

Or...R3 Corda is using XRP and their obscuring that, but I'm unsure of that as well....

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25 minutes ago, Ryyy20 said:

Could we spin this conversation back to @TiffanyHayden point: 

“My premise is that a multi-currency CBDC will be developed for cross-border payments and that Ripple will offer it as an alternative to XRP, similar to how Bitcoin was also a choice in the beginning. Ripple is a payments company and their commitment is to their customers.”

If you read recently released HK/Thai bank cross border results: 

https://www.ledgerinsights.com/hong-kong-thai-central-bank-digital-currency-cbdc/

This makes it seem like CBDCs on Corda can eliminate the need for nostro accounts through the use of Digital Receipts instead of a bridge asset like XRP. In this world, it would appear there's no need for XRP or ODL or, stablecoins...

Isn't it funny that only XRP is held to the standard that utility volume must affect price or XRP doesn't "deserve" to go up in value? What about BTC's utility volume? Say what in the what now? What about ETH's utility volume? Cryptokittys you mean? More like ICOs dumping ETH to pay bills.  I can think of VET as a decent crypto that is actually fusking USED.   Other cryptos? Really?! It's all whitepaper dreamz.  Why aren't token holders of other cryptos talking about utility volume like XRP holders are? Because utility volume doesn't exist for those cryptos.

 

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