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Why is the Wallet Reserve still 20 XRP?


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When I got started the wallet reserve was worth about 10 cents. Now it's 10 dollars. It's supposed to be just high enough to stop you from spamming new wallet creation. Stellar's reserve is 1 XLM. When will it be lowered? What will all the people who deleted their wallets for 15 XRP ($7.50) think when XRP is $100 and the reserve is lowered to .01 XRP and they realize they left $500 behind?

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4 hours ago, brianwalden said:

When I got started the wallet reserve was worth about 10 cents. Now it's 10 dollars. It's supposed to be just high enough to stop you from spamming new wallet creation. Stellar's reserve is 1 XLM. When will it be lowered? What will all the people who deleted their wallets for 15 XRP ($7.50) think when XRP is $100 and the reserve is lowered to .01 XRP and they realize they left $500 behind?

Self Custody wallets are a Regulatory issue that remains to be answered. I think they may end up being considered "Foreign Currency" when repatriated onto a regulated exchange/FI.

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17 hours ago, brianwalden said:

When I got started the wallet reserve was worth about 10 cents. Now it's 10 dollars. It's supposed to be just high enough to stop you from spamming new wallet creation. Stellar's reserve is 1 XLM. When will it be lowered? What will all the people who deleted their wallets for 15 XRP ($7.50) think when XRP is $100 and the reserve is lowered to .01 XRP and they realize they left $500 behind?

I think the biggest challenge to deciding when to lower the reserve is that it will subsequently be much harder to raise it again in response to a significant price drop. If the reserve is ever raised again, then inevitably you're going to be locking people's XRP in the higher reserve, which I think should ideally never occur (angry users/bad PR: "Ripple locked my XRP" etc...). Not to mention the fact that some people may actually be impacted personally by losing access to even a small amount of their assets like that.

So if I was running a validator and voting on the reserve, I'd want to be pretty sure that the price is unlikely to ever drop back to the previous levels before voting to lower the reserve. In the middle of a bull run is definitely a bad time to be decreasing reserve, who knows when the dump is coming?

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