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ODL Dead? Failed Project?


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Just because the ODL transactions don't all look like they did before doesn't mean they aren't there. ODL is very much alive and growing.

ah yes. the quality journalism of conspiracy daily. 

No, it's not dead from what I'm told by Ripple employees who have nothing to sell me.  In fact, they are excited about the most recent ODL figures.  Unfortunately for you,  I don't ask them to provide

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9 hours ago, xerxesramesepolybius said:

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This is the kind of volatility that kills ODL.

Just imagine you are buying XRP with Pesos all day. During/at end of day you need to get that XRP to US exchange and then sell for dollars, convert those dollars to pesos and have accelerated settlement of those pesos back your account in Mexico (You know like the conventional market is supposed to not be incapable of doing)

So if the XRP is falling you are going to get less dollars (like on June 11th) and the worst thing that happens next is the dollar starts falling against the peso. So you get even less pesos for the dollars. So you end up with a massive loss, which hopefully daddy Brad will compensate you for.

Alternatively you could just change dollars for pesos and do same day settlement. The USD/MXN is an incredibly liquid currency pair.

Look through the data and you see unfortunate bumps like this. Another thing you see if you look at the data is persistent aribtrage gaps.

If all these "arb bots" were working effectively by the end of the trading day there should be no difference between the MXNXRP price and USDXRP (if you use the spot USDMXN rate to convert) instead  I saw an average arb rate of 1% over a 9 month period, sometimes hitting 3-4%.

Real world markets simply do not operate like this because one of more of the participants would go bust or get arrested.

 

 

 

this is the daily open and close.

In fact when you send money using xrp you do not need a whole day, but just some seconds.

If you add some sort of technical times due to the bank and not xrp, you probably need let's say 15 minutes.

within these 15 minutes xrp will not change its value so fast or so much.

 

So your post is wrong and misleading.

 

What you write is exactly the reason why I would prefer xrp over any other crypto or conventional method: because xrp is the only one that does not cause me to loose money during the transfer.

Edited by JJJ2
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14 hours ago, PlanK said:

 

Yes, I remember that day when Brad burst into my house, held a gun against my family's heads and demanded I buy XRP.  He told me my only other option was fill a suitcase full of money and buy an airline ticket.  I wonder if he treats institutional clients the same way?

What I wrote is the fact. People invested based on his statments. You can make a joke out of it as much as you want. 

Lets assume that he said banks wont be using xrapid in next 4 years and that they will buy shares in MoneyGram so they can show the world how good xrapid is. Now tell me what would to price?? Would you buy more, sell, or just keep holding because it is the same crap being 60% or 80% in red.

Some people use dot-connecting to invest, some listen to CEO what he has to say. I was in second group.

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^

I invested in the technology and the potential application of the technology (I think I may be group zero).  I didn't anticipate the timeline would be so long, but then I didn't know how slow the regulation machine moved though there were a lot of hints along the way that make it obvious now.  I don't blame Brad for things out of his control.  If things go completely **** up at Ripple I won't blame him for that either, that's just business.  It's my money, my choice, I don't need no scapegoats.

 

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7 hours ago, Kiwi said:

What I wrote is the fact. People invested based on his statments. You can make a joke out of it as much as you want. 

Lets assume that he said banks wont be using xrapid in next 4 years and that they will buy shares in MoneyGram so they can show the world how good xrapid is. Now tell me what would to price?? Would you buy more, sell, or just keep holding because it is the same crap being 60% or 80% in red.

Some people use dot-connecting to invest, some listen to CEO what he has to say. I was in second group.

Well, I know it may seem difficult now but try to look at the bright side here.  Most likely there will be a massive bull run that will have you well in the green if you are patient enough before XRP's true utility is captured.  If you don't believe in the project and long-term prospects you can likely sell sometime in the next 4-18 months at a huge profit.  Most of the time in life learning valuable lessons such as how to do proper due diligence comes at a high cost.  However, here I'd venture that you stand a very high likelihood of learning a valuable lesson AND profiting off of it.  Its like DS likes to say, Jed may become the first billionaire despite his best efforts, lol.  Surely, for all future investments you put under the microscope you'll do more than listen to the CEO and this will pay off for you in the long run.  

Of course, we see things a bit differently and I'm excited about holding XRP into the 2024/2025 range based on how the entire ecosystem is progressing but doing so slower than we all hoped back in 2016 and 2017.  I expect the value of XRP to increase exponentially as we see the Metcalfe's Law and Jevons Paradox take shape.  Getting ODL off the ground has had its share of challenges but it works and the team is just now beginning to scale it utilizing real-time micropayments.  I understand the team is excited about ODL's most recent metrics.  The hardest part is actually behind us.  The flywheel here is EFFING massive and its just begun to start moving on its own.  

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12 hours ago, JJJ2 said:

 

this is the daily open and close.

In fact when you send money using xrp you do not need a whole day, but just some seconds.

If you add some sort of technical times due to the bank and not xrp, you probably need let's say 15 minutes.

within these 15 minutes xrp will not change its value so fast or so much.

 

So your post is wrong and misleading.

 

What you write is exactly the reason why I would prefer xrp over any other crypto or conventional method: because xrp is the only one that does not cause me to loose money during the transfer.

this is about market makers, who need to buy XRP, then send it to another exchange, sell it, and then convert the cash back to their orginal currency. It does not take seconds and the final FX leg is not done using XRP.  Do you personally use XRP in money transfers? just curious

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On 9/1/2020 at 6:42 PM, PlanK said:

Yes, I remember that day when Brad burst into my house, held a gun against my family's heads and demanded I buy XRP.  He told me my only other option was fill a suitcase full of money and buy an airline ticket.  I wonder if he treats institutional clients the same way?

Yes, I wonder if Brad has figured out how to send money between countries yet without putting it is a case and flying.

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1 hour ago, xerxesramesepolybius said:

Yes, I wonder if Brad has figured out how to send money between countries yet without putting it is a case and flying.

That was Chris. He did have a point.

The whole, package and Amazon thing is interesting. RippleNet cloud storage, etc. etc.

You need to provide some more history here on what is stuck in your croll.

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1 hour ago, xerxesramesepolybius said:

Nobody seemed to talk about this "flywheel" thing until Ripple made up the concept at the end of last year. Presumably as another excuse for the terrible price action.

Actually, we've been talking about the idea of the flywheel in here for 3+ years.  It's a metaphor, they don't actually have a giant flywheel taking up physical space in the basement of the SF offices.  The entire market is still extremely speculative so the "terrible price action" is very loosely tied to what any project is or isn't delivering.  Why did XRP go up in value 600x in 2017 when they weren't delivering anything to any customers? I can't begin to explain why price does what it does in the short-term and what's happened from 2018 until today is short-term in my view.  I'd be surprised if I didn't see at least ~75x my current DCA by 2024-2025.  Not an entirely different time frame and expected return from that of providing seed capital to a promising private enterprise.  

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ODL isn't dead!  Today marks the day of all the predictions out there that XRP is going to $10, $1500 & $10,000 today! What an exciting day to know we will all be rich by the end of day!

Edited by Scout
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1 hour ago, Scout said:

ODL isn't dead!  Today marks the day of all the predictions out there that XRP is going to $10, $1500 & $10,000 today! What an exciting day to know we will all be rich by the end of day!

Lambo dealer on stand by, just say when. :biggrin:

Edited by LetHerRip
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