Japan getting ready to join ODL network

[Julian_Williams 12,796]

The first Japan to Korea ODL has been recorded.  Japan has been added to the utility scan, but it could be weeks or months before we see daily ODL between Japan and other users.

https://twitter.com/UtilityScan/status/1277943529101242368/photo/1

The expectation is that a remittance corridor between Japan and Vietnam will be opened up as SBI have a big share of this remittance corridor and are well placed to make it happen.

Utility scan have added the Japanese flag

Edited June 30, 2020 by Julian_Williams

[itcdominic 1,568]

The ODL volume is down so low since two weeks ago its not even exciting to watch any more.

 

 

[solid102 239]

3 minutes ago, itcdominic said:

The ODL volume is down so low since two weeks ago its not even exciting to watch any more.

 

 

That is because you are focusing so much on the size of the volume instead of the flow. Before when ODL carried big payments you just see couple payments move around once every 2 to 4 seconds. Now when you look at it with smaller broken up payments you see XRP flying around like data it is incredible to witness and I can only imagine what it would look like once the corridors start revving up.

 

I have my own theory as to why they have done this and it relates to whale bots and how they increase or decrease prices of Crypto. If you ever observed whale bots at action to lower the price they don't just dump 4 million XRP at a lower price in one or two goes instead they hundreds of bots start selling XRP selling small batches of XRP at a gradual reduced price in small rapid succession across many exchanges to give the impression of a reduction in price that ends up triggering other bots to lower and other traders to sell crashing the price. My theory is Ripple is trying to accomplish something similar except with actual utility and real volume not bots or whale action.

[itcdominic 1,568]

1 minute ago, solid102 said:

That is because you are focusing so much on the size of the volume instead of the flow. Before when ODL carried big payments you just see couple payments move around once every 2 to 4 seconds. Now when you look at it with smaller broken up payments you see XRP flying around like data it is incredible to witness and I can only imagine what it would look like once the corridors start revving up.

 

I have my own theory as to why they have done this and it relates to whale bots and how they increase or decrease prices of Crypto. If you ever observed whale bots at action to lower the price they don't just dump 4 million XRP at a lower price in one or two goes instead they hundreds of bots start selling XRP selling small batches of XRP at a gradual reduced price in small rapid succession across many exchanges to give the impression of a reduction in price that ends up triggering other bots to lower and other traders to sell crashing the price. My theory is Ripple is trying to accomplish something similar except with actual utility and real volume not bots or whale action.

Does anyone think that secretly Ripple is behind these bots to control/manipulate price?

[Frisia 120]

20 minutes ago, itcdominic said:

The ODL volume is down so low since two weeks ago its not even exciting to watch any more.

I suspect that this is due to a total reset of the system at least for some customers. Abandoning the "treasury" payments is not the only change Ripple has adopted but rather a different way of handling payment transactions (batch driven vs real time payments). Obviously this requires system configurations and extensive testing.

Today it seems to be picking up so some of your excitement might be back.😉

[Julian_Williams 12,796]

1 hour ago, itcdominic said:

The ODL volume is down so low since two weeks ago its not even exciting to watch any more.

 

 

Do you remember that campaign strategy "Its the economy, stupid"?

With ODL/Ripplenet think "It's the network, stupid"  The value of a token is only as good as the network that supports it, which includes all sorts of whistles and bells:  exchanges, developers, FIs, APIs, tokens, use cases,  cross party software, protocols ...etc.  

To understand your investment is maturing forget ODL volume and instead watch the network development and adoption.  The value will come in after the networks are set up, and the entry of the new investment money might be explosive and unstoppable.. 

Edited June 30, 2020 by Julian_Williams

[GoldenGoose 502]

6 hours ago, Julian_Williams said:

Utility scan have added the Japanese flag

I beg to differ. That is not the Japanese flag. That is a stop sign.

I'm only joking, and I'm not intending to pour cold water on your newsworthy post.

[VanGogh 1,478]

13 minutes ago, GoldenGoose said:

I beg to differ. That is not the Japanese flag. That is a stop sign.

I'm only joking, and I'm not intending to pour cold water on your newsworthy post.

Ahhh, the stop sign makes sense now!

[Zedy44 2,808]

7 hours ago, itcdominic said:

Does anyone think that secretly Ripple is behind these bots to control/manipulate price?

No.  Arbitrage bots have been around for years.  I think the only thing Ripple has done manipulation-wise is attempt to control the volume and transaction sizes with ODL to make data interpretation / analysis easier to better understand how to evolve their product and/or roadmap.

[Dogowner5 2,585]

Does anyone really believe that a company under so much scrutiny would try messing around with amateur bot type manipulation to affect price?

 

Why in this space is there such an endless creation of nonsense conspiracy theories?

[SquaryBone 803]

5 hours ago, Dogowner5 said:

Does anyone really believe that a company under so much scrutiny would try messing around with amateur bot type manipulation to affect price?

 

Why in this space is there such an endless creation of nonsense conspiracy theories?

Yeah Ripple doing market manipulation would be really stupid.

[Julian_Williams 12,796]

9 hours ago, Dogowner5 said:

Does anyone really believe that a company under so much scrutiny would try messing around with amateur bot type manipulation to affect price?

 

Why in this space is there such an endless creation of nonsense conspiracy theories?

People who have had high hopes that were not realised become very bitter sometimes.  They feel exonerated if they can find some external wickedness to blame.

[itcdominic 1,568]

2 hours ago, Julian_Williams said:

People who have had high hopes that were not realised become very bitter sometimes.  They feel exonerated if they can find some external wickedness to blame.

I agree and do not think this...mine was a cynical question.  In no way do I think this company would risk the fallout associated with manipulating the market.  That RISK would be far to great to mess around.

 

 

[Julian_Williams 12,796]

18 hours ago, GoldenGoose said:

I beg to differ. That is not the Japanese flag. That is a stop sign.

I'm only joking, and I'm not intending to pour cold water on your newsworthy post.

in my country the stop sign is a red ring with a white centre

this is a white ring with a red centre - the very opposite to a stop sign. I think what you are seeing is a keep going sign, but a few poor souls will wish to see it as a stop now sign.

https://pngtree.com/freepng/vector-stop-icon_3788187.html

 

Edited July 1, 2020 by Julian_Williams

[enrique11 1,486]

Galgitron once made a similar post about Ripple having so many XRP that it would be able to boost the price in its favor to support Ripple's vision for XRP, but I made a similar argument in his post that Ripple would run afoul of serious regulations.  So, the similar idea in this thread which works on the same principle as interesting as it sounds would likely break the same regulations put in there to safeguard the retail investors.  The SECs top priorty is to protect investors, and they do that by going after the investees using existing regulations.  

Even if large whales and bots are trying to manipulate price, they won't have much affect even if they coordinate across platforms, because ODL locks in the price before the payment is even sent then executes it. Small payments are harder to affect because the liquidity is there to support such payments, and the exposure to volatility at both ends is a few senconds, and the entire payment takes like around a minute to complete or less. 

  Ripple is trying to support the IoV so value can move around the IoV as digital information moves around the internet, which means payments will find the cheapest path in general. It's good to start small, and it's OK to break micro payments into tens or hundreds of smaller payments because the network fees are so low.   This promotes organic growth of the network while allowing more liquidity providers to onboard to provides more paths for value to flow through with less resistance, the same way the actual internet works with sending data effeciently. What the IoV needs is lots of nodes for value to flow through, and then XRP pathfinder algorithm will find the path of least monetary resistance.  That's why large payments don't work yet, the network bandwidth and a diverse number paths for those payments to flow through for particular corridors in likely not there yet. 

This is something that should grow organically, like the internet did. SWIFT can't touch micropayments and in the meantime Ripple keeps onboarding micropayment providers and SMEs, so organic growth supports larger and large payments naturally as the infrastructure of the IoV grows so it can eventually support the flow of larger and larger payments as easily as micropayments with the infrastucture and liquidity is sufficiently large.  Banks are the last to get invovled because they generally have the largest payments, and very highly regulated, and most banks already are part of a system called SWIFT which has been around for a long time.  If Ripple and ODL can prove itself for small payments and grow organically unchallenged by SWIFT and have this snowball effect of increasing payment sizes and participants, then it allows the IoV to support larger and larger payments without slippage or outside manipulation, then we'll see larger businesses like SME's taking a chance with this system, then the same approach is applied to SME's so growth continues organically until it is able to support small banks and then continue on to larger banks, most of which are in SWIFT. 

This is just an opinion, but it's nice to see in this thread all these different ideas being bounced around because we can discuss them at length and try to figure out the pros, cons, and feasibility of various approaches, trying to gain more insight into Ripple's plans. 

Edited July 1, 2020 by enrique11