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Intermex partners with Ripple to use RippleNet and ODL


LeonidasH
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36 minutes ago, nakedzzrp said:

If they are using xrp that is good news, I'm just personally waiting to see if odl will actually lead to a price increase this year

surely any price increase will only come from speculation this year. we're mathematically years away from "utility driving value" and increasing the price.

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20 minutes ago, aye-epp said:

surely any price increase will only come from speculation this year. we're mathematically years away from "utility driving value" and increasing the price.

Any stock price includes a component of potential future value.  The way you are saying the above it seems like that is not good enough for you in the case of an XRP crypto price.

If ODL works and grows,  and the market recognises that,  then it’s not accurate to disparage that potential future value priced in as ‘speculation’,  and it likely won’t be years away.

But you are correct in that there could also be a concurrent,  or prior,  bull run based solely on generalised speculation of crypto growth.

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32 minutes ago, Tinyaccount said:

Any stock price includes a component of potential future value.  The way you are saying the above it seems like that is not good enough for you in the case of an XRP crypto price.

If ODL works and grows,  and the market recognises that,  then it’s not accurate to disparage that potential future value priced in as ‘speculation’,  and it likely won’t be years away.

But you are correct in that there could also be a concurrent,  or prior,  bull run based solely on generalised speculation of crypto growth.

If odl works and grows AND this leads to a price increase then the market will recognise this and speculate its future value, if odl does not lead to a price increase then there is nothing for the market to speculate on

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52 minutes ago, nakedzzrp said:

If odl works and grows AND this leads to a price increase then the market will recognise this and speculate its future value, if odl does not lead to a price increase then there is nothing for the market to speculate on

Oh...  you are of the ‘there must be an innate mechanism for ODL price rise or it won’t happen’ persuasion.  If it’s successful it will increase both volume and wallet holdings.  That normally means a price rise in markets.

I’m glad the market won’t only be relying on your opinion then.

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21 minutes ago, Tinyaccount said:

Oh...  you are of the ‘there must be an innate mechanism for ODL price rise or it won’t happen’ persuasion.  If it’s successful it will increase both volume and wallet holdings.  That normally means a price rise in markets.

I’m glad the market won’t only be relying on your opinion then.

Just saying odl needs to prove that price can increase with increase usage,don't need to be so judgemental. There is still conflicting information even from ripple about this.

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Sounds impressive

 

Quote:

Intermex is one of the largest U.S. to Mexico remitter service providers in the world—processing more than 30 million payment transactions a year through a network of 100,000 payer locations. Through this partnership, Intermex will be able to settle key currencies and match the timing of funding with its settlement requirements reducing costs and providing transparency to their customers.

Other financial institutions are also working in partnership with Ripple to provide global payment solutions across this important remittance corridor—and seeing tangible results. MoneyGram International is one example. They are using RippleNet’s On-Demand Liquidity service, which relies on the digital asset XRP as real-time bridge between the sending and receiving currencies to enable even faster and cheaper cross-border transactions. 

In just six months of implementing the ODL service, MoneyGram Chairman and CEO Alex Holmes announced that the company is moving ten percent of its transaction volume between the U.S. and Mexican borders with plan to expand use of the service into four more corridors this year.

In addition to enabling faster, cheaper payments, ODL eliminates the need for financial institutions to pre-fund accounts in destination currencies—freeing up capital and guaranteeing the most competitive FX rates available. 

Since the commercialization of ODL, we have seen significant growth and customer interest with two dozen customers signed on to use the product. Some of the notable customers committed to using ODL include MoneyGram, goLance, Viamericas and FlashFX.

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2 hours ago, nakedzzrp said:

don't need to be so judgemental.

You are correct.  I owe you a large apology.  I’m very sorry...  to be honest I didn’t notice that it was not aye-epp I was talking to.  That person and I have just recently disagreed and apparently I’m harbouring some animosity towards them (which I shouldn’t be),  and I inadvertently directed it at you.

None of that excuses my post...  it just explains how I was in error.  But my post should have been more polite in any case... and I do apologise.  Btw...  I was not only wrong and rude...  it was very stupid to get such a easily seen thing wrong.  Please forgive my rudeness.

 

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8 hours ago, mrhat75 said:

Source?

This one is pretty simple and doesn't require a source, just simple math. Current daily volume for XRP runs somewhere between $600-$900 million. ODL at it's peak has hit around $8 million per day. At $600 million per day, that's just barely over 1% of total volume. It'll get there but it'll take time.

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1 hour ago, Chris_Reeves said:

This one is pretty simple and doesn't require a source, just simple math. Current daily volume for XRP runs somewhere between $600-$900 million. ODL at it's peak has hit around $8 million per day. At $600 million per day, that's just barely over 1% of total volume. It'll get there but it'll take time.

You're thinking linearly

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1 hour ago, Chris_Reeves said:

This one is pretty simple and doesn't require a source, just simple math. Current daily volume for XRP runs somewhere between $600-$900 million. ODL at it's peak has hit around $8 million per day. At $600 million per day, that's just barely over 1% of total volume. It'll get there but it'll take time.

How do you math when you can't know the average value per payment?
As far as I know there are no figures public available for Intermex.

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48 minutes ago, kanaas said:

How do you math when you can't know the average value per payment?
As far as I know there are no figures public available for Intermex.

 

2 hours ago, Chris_Reeves said:

This one is pretty simple and doesn't require a source, just simple math. Current daily volume for XRP runs somewhere between $600-$900 million. ODL at it's peak has hit around $8 million per day. At $600 million per day, that's just barely over 1% of total volume. It'll get there but it'll take time.

Maybe I can help you with some (simple) math

According to a 2004 study (from wikipedia) the average for a certain target was between 150 and 250 $. So we're talking about potential of 4.5B to 7.5B
Or more .... as I expect the average payment a bit higher? Quoting the article "Each transaction averaged about $150–$250, and, because these migrants tended to send smaller amounts more frequently than others, their remittances had a higher percentage of costs due to transfer fees" makes me believe that it might be even higher. But that's a guess of course because I've no idea about the typical client&payment by Intermex

Edited by kanaas
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2 hours ago, kanaas said:

 

Maybe I can help you with some (simple) math

According to a 2004 study (from wikipedia) the average for a certain target was between 150 and 250 $. So we're talking about potential of 4.5B to 7.5B
Or more .... as I expect the average payment a bit higher? Quoting the article "Each transaction averaged about $150–$250, and, because these migrants tended to send smaller amounts more frequently than others, their remittances had a higher percentage of costs due to transfer fees" makes me believe that it might be even higher. But that's a guess of course because I've no idea about the typical client&payment by Intermex

I'm not certain the point you're making. I'm just saying that speculation and trading volume (outside of ODL) drives the majority of overall volume for XRP today. While I believe that ODL will have an impact, it's not going to until the volumes are many multiples higher than where we are today. That's my point, nothing more.

And I apologize for sounding condescending. It was not my intent; I was just typing quickly before having to leave the computer for a bit.

Edited by Chris_Reeves
added apology
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