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ODL Dead? Failed Project?


LetHerRip

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It looks about the same as it was before the treasury transfers. Recently it seems to be really down on the weekends. So if you could explain why you think it is dead? Is it slower or does it seemed that it has ceased to grow? It looks that way to me. That said personally I'm not in a position to come to a conclusion about the ends and outs of why it has not taken off. There does seem to have been chatter about SBI again, but then that has of to date not seemed to materialize, but still in the works.

All of that said at what volume does xrp have to obtain in order for it to become fluid, or behave as an actual commodity to be used to trade the value of currency. That is a question I can't answer.

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42 minutes ago, peanut56 said:

It looks about the same as it was before the treasury transfers. Recently it seems to be really down on the weekends. So if you could explain why you think it is dead? Is it slower or does it seemed that it has ceased to grow? It looks that way to me. That said personally I'm not in a position to come to a conclusion about the ends and outs of why it has not taken off. There does seem to have been chatter about SBI again, but then that has of to date not seemed to materialize, but still in the works.

All of that said at what volume does xrp have to obtain in order for it to become fluid, or behave as an actual commodity to be used to trade the value of currency. That is a question I can't answer.

Indeed Peanut !!
ODL's weekend trading volume has been noticeably low. 

It's interesting to note that at Bitso, one hour ago (30AUG 23:00) the volume for that hour was 1.8m XRP->MXN. The previous hour was 10.2k, and pretty low on all the hours of this now past weekend (Good morning Asia!).

Here are the daily volume trade metrics at Bitso for the last two months... 
Cheers friend.

1164215134_ScreenShot2020-08-30at5_43_10PM.thumb.png.74aa986547da62ab7d3ebd5d53177a99.png

Edited by JASCoder
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7 hours ago, LetHerRip said:

Checking on the status of ODL, the charts are looking ridiculously pathetic. Time to declared this dead? Has the project failed?

If you are checking the status of ODL, why are you posting screenshots of liquidity? Liquidity does not equal ODL. ODL corridors tend to work more efficient when there's higher liquidity, so surely it's correlated, however this does not mean that there'll be no ODL transfers with a lower liquidity. 

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9 minutes ago, ErikNL said:

If you are checking the status of ODL, why are you posting screenshots of liquidity? Liquidity does not equal ODL. ODL corridors tend to work more efficient when there's higher liquidity, so surely it's correlated, however this does not mean that there'll be no ODL transfers with a lower liquidity. 

You can just look at the Bitso MXN/XRP volume, its fallen off a cliff since a few months ago.

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17 minutes ago, Dsimmo said:

Who here actually understands how to interpret the numbers produced by the Twitter liquidity bot? Specifically, the maths equation used to derive the index value.

I haven’t looked into it but isn’t it just a 28 day average? (from memory)

Thats not complicated is it?

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Oh Pfuk yah its dead! What the Pfuk are we doing here?!

 

 

making this the tiniest size so you have to stare at it with a glass of magnification before you retort with your pre-prepared statement... it's the least I can do.. really, it is... quit being doooooosho bags, pleaase!.... I can not raed what I have written, too small... like your weener.....

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@Zerpiet Thanks for your comment. I've read the tentoshi description of the liquidity index too. My understanding is that there isn't a "right" way of defining liquidity in some objective sense. There are different approaches that give insight to what's happening:

  1. raw XRP volume
  2. raw fiat volume
  3. some tie-in of volatility to the above

The liquidity index attempts to capture 3 with 2, I believe.

The truth is, Bitso volumes are still dominated by XRP volume, which suggests that ODL plays a key role in Bitso's overall exchange volume. Below is a plot of the underlying daily MXN volumes on Bitso (source). Whilst admittedly there is a fairly catastrophic collapse after May - which does seem concerning - an explanation of this has been provided by Ripple (a focus a low value transactions). The general trend in recent months does still appear to be up (just about), although the daily transaction volume  still remains very volatile.

My personal view is that it's way too early to label ODL as "dead".

My personal view is that the community should be watching the XRP volume dominance on the known ODL exchanges. 

 

volume_Bitso_31082020.png

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