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FreedomGundam

What is the best solution that Ripple must take?

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1 hour ago, Trentsteel said:

Why not? Although not directly a part of XRP, it’s a good distraction👍😳

who

 

 

T

 

What is XRP?  ;-) 

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Ripple knows exactly what they need to do, and they are doing just that.  Does your timeframe match theirs?  When a business or an idea becomes successful people often say wow overnight success, but in reality there have been many many years of work put in.  Congratulate yourself on getting in early and ripple being so open.

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Posted (edited)

Best solution is for Ripple to adapt as well as possible to a very quickly changing IoV landscape.  It has to survive and somehow get FI's and SMEs to see that XRP is one of the best solutions for exchanging two different assets internationally. 

Many cryptos are trying to chase the next big idea: First came bitcoin, and everyone was trying to create some version of bitcoin.  Then came Ethereum, and DApp platforms, platforms for creating tokenized digital assets were all the rage. Now the focus is on developing DeFi infrastructure, like DEXs that support DeFi apps with stablecoins in mind because regulations are starting to catch up with cryptos. 

So if you look at the inherent properties of XRP/L, the currency, it's network, and the products built to support it, you see that XRP favors very fast transcations, high transaction rate, very low fees, an ability to tokenize assets, but with counterparty risk, and relatively centralized control of validators via the intended target market, FIs.

Ripple's products support FIs that want to leverage XRP and its network for transactions.  I wouldn't mind starting an XRP-related business one day if XRP is successful, like loaning out my XRP temporarily when more liquidity is needed from MMs, but regulations will be such that these types of business will likely be prohibitively expensive and mistakes will be costly, both financially and legally, and I don't think the FIs want people to compete with them, just as banks don't like people to compete with them for mortgages, and other such large loans. 

 XRP was not intended for us regular investors...I personally believe we speculators and investors were just used to bootstrap Ripple's vision of XRP for FIs by providing market capitalization, liquidity, exchange activity, speculation, and user feedback to devs in order to buy time to make XRPL a great product while waiting for real utilitarian demand from FIs to pick up, so we could eventually sell off to the intended users of XRP, the FIs, and XRPs deflationary aspect would be used as an incentive for us investors to get rid of our Zerps.  Deflation takes many forms in XRP:  transaction costs, settings changes, 20 XRP account opening, etc.

What makes XRP most valuable?  Moving lots of value (either as micropayments or a few large payments) from one asset in one legal jurisdiction to a different asset in a different legal jurisdiction - international exchanges of tokenized digital assets with XRP as a medium of exchange between these two assets.  Ripple's products in conjunction with XRP can do this for FIs using XRP as a bridging currency!  What's missing is the exchanges at the endpoints with sufficient liquidity to make the system work 24/7.

Anything else, like sending payments in the same denominated currency from one location to another takes very little XRP, so this is not a valuable use case for XRP in terms of making XRP literally valuable. Yes, you can get a lot of utility out of it, but the cost is so low, it makes the use case of little value to XRP.  So intranational movement of tokenized assets using XRP doesn't make XRP valuable and it's something that would be much better suited for CBDCs because no additional asset with high long-term volatily like XRP would be required as a payment fee to send the original asset from one location to another within the same nation, but the volatility doesn't reallly matter because the fees are so low. Also, a government I believe would prefer to use and more importantly control its own solution rather than depend on a third-party solution for something as important as a CBDC.

So, I keep getting back to this best use case for XRP which is to unite the legacy financial world and the IoV world for various types of FIs using a combination of Ripple software and XRPL involving international payments from one denominated currency to another differently denominated currency. It's a very specific use case, so for that reason, I see XRP as one of these cryptos that will either work for its one and only intended use case or it won't.  There are other use cases for XRP, but those use cases don't make XRP valuable.

Utility is what drives the value of XRPL for its users, but it's a very specific use case that drives the value of XRP.  

These are just my opinions on XRP - I'm sure others have their own ideas about what best suits Ripple and XRP. 

 

 

Edited by enrique11
additional comment

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Posted (edited)
58 minutes ago, yxxyun said:

replace the XRP symbol again, the current symbol has a bad meaning in fengshui : cut half off.

So, you see the price now.

 

Since XRP's best use case is moving fiat globally, maybe just use a sphere projected onto a 2D surface with XRP written on it with the font wrapped around the sphere. You could make the font green and the earth white with black borders.  Green to indicate the movement of money around the globe/world or use could use a black font and make the world green and still use black border for sphere. Something simple and recognizable and intended to symbolize XRP's best use case.

Something like the following: 

jb.png

 

or you could take 2 thick "equators" colored in black that wrap around a green 3D globe to form the letter "X" on the front of the globe to represent XRP where the green color is for money and also to represent 'earth friendly' because of XRPL's low carbon footprint compared to BTC's network.

Edited by enrique11

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1 hour ago, yxxyun said:

replace the XRP symbol again, the current symbol has a bad meaning in fengshui : cut half off.

So, you see the price now.

 

I think it's not true. If you see when they peak at $3 now just 17c it's almost 95%

 

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1 hour ago, enrique11 said:

I see XRP as one of these cryptos that will either work for its one and only intended use case or it won't. 

I totally agree with you. Because it's only serve one purpose. We only can see if it's working it's gonna be booming 1 XRP = $1,000 or $589 according to the old script by Father BG, However, if it fail, it will go down to 1c or less.

Well, I see the sign of the XRP are moving south when I see how Ripple failed to convince JP Morgan and SWIFT. If you remember when our President Brad take a picture with BOD of JPM that sky rocket XRP in a night. Because we believe something will happen.

When Brad meet SWIFT at SIBOS, I also remember XRP price slightly going up.

But, both JPM and SWIFT don't have any agreement with Ripple.

JPM is one of the biggest bank that do wire all around the world for big company. And SWIFT, is the biggest wire transfer company as I know.
My company that I work with also using SWIFT code to transfer and to receive money from other country.

The SIBOS maybe around April last year(please check) The price of XRP going up to about 40c.

After that XRP price is down to Spiral never going up again. And we lost General Hodor. There are some moment when XRP chase ETH and become second biggest crypto by market cap. Which is good, but now We're falling to 4th. Let's see next year. Are we falling to 5th or going up again.

I know that right now, Ripple still have billion USD in his pocket from selling XRP, but if they don't make some big breakthrough they can fall too (like theranos). I really hope this not happening.

My best solution for Ripple is to work with China, and use people like Jack Ma, he really can sell.

Note: I rarely heard the news about SBI, where are they?

 

 

 

 

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Posted (edited)
3 hours ago, FreedomGundam said:

I totally agree with you. Because it's only serve one purpose. We only can see if it's working it's gonna be booming 1 XRP = $1,000 or $589 according to the old script by Father BG, However, if it fail, it will go down to 1c or less.

Well, I see the sign of the XRP are moving south when I see how Ripple failed to convince JP Morgan and SWIFT. If you remember when our President Brad take a picture with BOD of JPM that sky rocket XRP in a night. Because we believe something will happen.

When Brad meet SWIFT at SIBOS, I also remember XRP price slightly going up.

But, both JPM and SWIFT don't have any agreement with Ripple.

JPM is one of the biggest bank that do wire all around the world for big company. And SWIFT, is the biggest wire transfer company as I know.
My company that I work with also using SWIFT code to transfer and to receive money from other country.

The SIBOS maybe around April last year(please check) The price of XRP going up to about 40c.

After that XRP price is down to Spiral never going up again. And we lost General Hodor. There are some moment when XRP chase ETH and become second biggest crypto by market cap. Which is good, but now We're falling to 4th. Let's see next year. Are we falling to 5th or going up again.

I know that right now, Ripple still have billion USD in his pocket from selling XRP, but if they don't make some big breakthrough they can fall too (like theranos). I really hope this not happening.

My best solution for Ripple is to work with China, and use people like Jack Ma, he really can sell.

Note: I rarely heard the news about SBI, where are they? 

 

 

 

 

I think the price went down because altcoins' prices are strongly, positively correlated to BTC's price. 

Hodor was a "cheerleader" for Ripple and XRP.  I saw him as overly optimistic, like BG123, but to a lesser extent.  When I would point out negative things about Ripple or XRP, Hodor would sometimes respond to my posts negatively.  I don't recall him ever saying anything negative about Ripple, XRP, so I stopped following his posts because they were always positive and overly optimistic, IMO. 

I'm not worried about XRP's rank.  Different use cases grow at different rates. It wouldn't bother me if XRP fell in rank as long as their is a significant positive correlation between Ripplenet customers and XRP customers.  For example, There are roughly 300 Ripplenet customers, and roughly 24 XRP customers.  If these number grow together at the same rate, that's a great sign because it means if this correlation holds (X = 0.08*R), then for every 12 or 13 Ripplenet customers we get 1 XRP customer.  Need more data points as time goes by to see if there is a positive, predictable correlation, like  linear correlation where the numbers grow at the same rate or the formula X = 0.08*R basically stays the same (predictable).  It basically means that customers are still as interested in XRP as Ripplenet as time goes by.

Theranos was a scam.  They promised something that didn't exist. XRP customers, on the other hand, do exist. 

The CCP has caused so much harm to the world by trying to cover up the pandemic at home, letting it spread abroad to the rest of the globe, and blaming the pandemic on the US on state-run media still even to this day in order to protect the CCP's political power at home.  I wish America would avoid China altogether, as the CCP has proven that it cannot be trusted, and a lot of American corporations, like Facebook, Google, etc. are to blame too for contributing financially and technologically to Chinese companies to help the CCP further it's political agenda at home - American corporate greed knows no bounds, helping the CCP maintain its political grip on it's people for the sake of business.  I don't mind cooperation between China and US, as long as the CCP is completely out of the picture - it has to go. We should support Japan and neighboring countries of China because the CCP has global hegemonic ambitions based on how they treat their neighboring countries via incursions and exaggerated territorial claims and also by providing high interest rate loans to countries for Chinese to help build these countries' infrastructure in some way and then when the country defaults, China claims the territory and project, increasing it's physical and financial presence in strategic locations around the world.   

I don't know.  CryptoEri on youtube is a good source for keeping up with SBI's current events. 

Edited by enrique11

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1 hour ago, enrique11 said:

as long as their is a significant positive correlation between Ripplenet customers and XRP customers.  For example, There are roughly 300 Ripplenet customers, and roughly 24 XRP customers.  If these number grow together at the same rate, that's a great sign because it means if this correlation holds (X = 0.08*R), then for every 12 or 13 Ripplenet customers we get 1 XRP customer.  Need more data points as time goes by to see if there is a positive, predictable correlation, like  linear correlation where the numbers grow at the same rate or the formula X = 0.08*R basically stays the same (predictable).  It basically means that customers are still as interested in XRP as Ripplenet as time goes by.

That is an excellent thought and metric.  It is possible that it gets skewed in future somewhat by any surge or decline in interest in particular customer groups.  For instance a surge in bank customers versus FI customers might skew it downwards and visa versa.

But overall as a rule of thumb, and all things being equal,  we probably would expect a support for that ratio or even a gain.

Thanks for mentioning it.

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Posted (edited)
8 hours ago, enrique11 said:

I think the price went down because altcoins' prices are strongly, positively correlated to BTC's price. 

Hodor was a "cheerleader" for Ripple and XRP.  I saw him as overly optimistic, like BG123, but to a lesser extent.  When I would point out negative things about Ripple or XRP, Hodor would sometimes respond to my posts negatively.  I don't recall him ever saying anything negative about Ripple, XRP, so I stopped following his posts because they were always positive and overly optimistic, IMO. 

I'm not worried about XRP's rank.  Different use cases grow at different rates. It wouldn't bother me if XRP fell in rank as long as their is a significant positive correlation between Ripplenet customers and XRP customers.  For example, There are roughly 300 Ripplenet customers, and roughly 24 XRP customers.  If these number grow together at the same rate, that's a great sign because it means if this correlation holds (X = 0.08*R), then for every 12 or 13 Ripplenet customers we get 1 XRP customer.  Need more data points as time goes by to see if there is a positive, predictable correlation, like  linear correlation where the numbers grow at the same rate or the formula X = 0.08*R basically stays the same (predictable).  It basically means that customers are still as interested in XRP as Ripplenet as time goes by.

Theranos was a scam.  They promised something that didn't exist. XRP customers, on the other hand, do exist. 

The CCP has caused so much harm to the world by trying to cover up the pandemic at home, letting it spread abroad to the rest of the globe, and blaming the pandemic on the US on state-run media still even to this day in order to protect the CCP's political power at home.  I wish America would avoid China altogether, as the CCP has proven that it cannot be trusted, and a lot of American corporations, like Facebook, Google, etc. are to blame too for contributing financially and technologically to Chinese companies to help the CCP further it's political agenda at home - American corporate greed knows no bounds, helping the CCP maintain its political grip on it's people for the sake of business.  I don't mind cooperation between China and US, as long as the CCP is completely out of the picture - it has to go. We should support Japan and neighboring countries of China because the CCP has global hegemonic ambitions based on how they treat their neighboring countries via incursions and exaggerated territorial claims and also by providing high interest rate loans to countries for Chinese to help build these countries' infrastructure in some way and then when the country defaults, China claims the territory and project, increasing it's physical and financial presence in strategic locations around the world.   

I don't know.  CryptoEri on youtube is a good source for keeping up with SBI's current events. 

As always great post.  Real discussions on the public forum- what a breath of fresh air.

About the CCP, and their aggressive ambitions, I agree.  But be careful what you wish for, without such a strong central authority China (and Russia) would fall apart with terrible consequences for world peace.  The break up of totalitarian countries often results in civil wars.

I buys stock from China.  The reason is that it is uneconomic to have some products made in the Europe where I live.  sometimes the choice is exit the market or buy from China.  

Hodor was far more than a cheer leader.  His summaries were quite balanced and useful, although he was also a cheer leader.  Like optimism, being a cheer leader is a useful function to perform, as long as you are open about your stance and do not hide bad news etc. 

Edited by Julian_Williams

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6 hours ago, enrique11 said:

Theranos was a scam.  They promised something that didn't exist. XRP customers, on the other hand, do exist.

I mostly agree with you except for Theranos part. I only can agree with you, if Ripple manage to maintain real big banks or SWIFT or replace SWIFT. By far, when I ask my banks about how to wire using Ripple, they even don't know what Ripple is. They only know SWIFT.

 

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