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MoneyGram Suspends Partnership with Ripple Indefinitely


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18 minutes ago, Archbob said:

Nah this is new.

 

https://www.coindesk.com/moneygram-puts-relationship-with-ripples-xrp-on-hold

 

I think its an extra step from what we heard last time.

Moneygram's actual statement contradicts the breathless headlines as well as some of the SEC's main claims (that XRP has no utility).

"In addition, the Company is not planning for any benefit from Ripple market development fees in the first quarter. Due to the uncertainty concerning their ongoing litigation with the SEC, the Company has suspended trading on Ripple's platform. In the first quarter of 2020, the Company realized a net expense benefit of $12.1 million from Ripple market development fees."

I'd say by any objective measure you have been savagely self-owned. 

Carry on, sir. 

Edited by HenrySeldom
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2 hours ago, HenrySeldom said:

Moneygram's actual statement contradicts the breathless headlines as well as some of the SEC's main claims (that XRP has no utility).

"In addition, the Company is not planning for any benefit from Ripple market development fees in the first quarter. Due to the uncertainty concerning their ongoing litigation with the SEC, the Company has suspended trading on Ripple's platform. In the first quarter of 2020, the Company realized a net expense benefit of $12.1 million from Ripple market development fees."

I'd say by any objective measure you have been savagely self-owned. 

Carry on, sir. 

No, see, the first quarter doesn't end until March, which is still a month from now.

The last sentence is just comparing q1 of this year with q1 of last year. This q1(which ends next month), they aren't going to benefit from Ripple Market Development as compared to last year when they received 12.1 million dollars from Ripple to use ODL.

Your lack of reading comprehension does not mean I "savagely owned" myself.

 

It also does not contradict the SEC main claims that XRP has no Utility. Moneygram would not have used ODL had they not been paid $12.1 million dollars. ODL is not saving Moneygram money and they wouldn't have used it without Ripple Bribe last year. Bribing someone to use your product does not mean your product has utility. They have to use it without you giving them money to really be a viable commercial product.

Edited by Archbob
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1 hour ago, xerxesramesepolybius said:

Ripple paid Moneygram over $100m to use ODL because it is so efficient, fast and cheap. Hold on something not right there, Ripple PAID Moneygram, not the other way around and now they have dumped ODL because it is too hot to handle.

Visa by itself paid merchants USD 1.75 Billion in first quarter of 2020 alone, because its credit card network is so efficient, fast and cheap. Hold on something not right there, Visa PAID merchants, not the other way around. 

In this instance, Visa's stock dropped because market expected it to pay MORE to its customers because that's a measure of growth. Incentives in payment networks is a thing and is both legal and expected. It has been around for decades. Please do your research. 

Source: https://bankautomationnews.com/allposts/payments/visa-shares-drop-on-warning-client-incentives-will-rise-in-2020/

Original Bloomberg Article: https://www.bloomberg.com/news/articles/2020-01-30/visa-shares-drop-on-warning-client-incentives-will-rise-in-2020, which most of us probably don't have a subscription for.

Update

From Mastercard's most recent 10-K filing (2/12/2021) with the SEC 

image.thumb.png.477c5158422956c29e9739efcee7ca9f.png

 

Edited by Ripley
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1 hour ago, Ripley said:

Visa by itself paid merchants USD 1.75 Billion in first quarter of 2020 alone, because its credit card network is so efficient, fast and cheap. Hold on something not right there, Visa PAID merchants, not the other way around. 

In this instance, Visa's stock dropped because market expected it to pay MORE to its customers because that's a measure of growth. Incentives in payment networks is a thing and is both legal and expected. It has been around for decades. Please do your research. 

Source: https://bankautomationnews.com/allposts/payments/visa-shares-drop-on-warning-client-incentives-will-rise-in-2020/

Original Bloomberg Article: https://www.bloomberg.com/news/articles/2020-01-30/visa-shares-drop-on-warning-client-incentives-will-rise-in-2020, which most of us probably don't have a subscription for.

Update

From Mastercard's most recent 10-K filing (2/12/2021) with the SEC 

image.thumb.png.477c5158422956c29e9739efcee7ca9f.png

 

Credit card issuers and credit card networks do not charge merchants. They charge what is know as a interchange fee to the merchants bank. The merchants bank in turn charges the merchant. Therefore there is a strong incentive for the issuer to pay incentives to merchants to take their cards. 

Hope this is not too complicated for you but your analogy is completely irrelevant to Ripple and XRP.

Ripple make no money at all anywhere is the transaction and subsidise everyone involved with the money made from selling XRP to us.

 

 

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59 minutes ago, xerxesramesepolybius said:

Credit card issuers and credit card networks do not charge merchants. They charge what is know as a interchange fee to the merchants bank. The merchants bank in turn charges the merchant. Therefore there is a strong incentive for the issuer to pay incentives to merchants to take their cards. 

Hope this is not too complicated for you but your analogy is completely irrelevant to Ripple and XRP.

Ripple make no money at all anywhere is the transaction and subsidise everyone involved with the money made from selling XRP to us.

 

 

Are you suggesting that ODL is a free service that Ripple provides to its customers out of the goodness of its heart? Or that the world-wide Market Maker partners provide liquidity for fiat on and off ramps for free? ODL may be super cheap, but it's not free. 

Also interchange fee includes payments to both the credit issuer and the payment processor. Ripple would presumably be the payments processor though the market makers also make some money off of the transaction. Ripple, for example, stated its intent to start a Loans vertical to presumably fill this gap of a credit issuer for its smaller customers. If that pans out, Ripple may also be a credit issuer for its customers. 

In case of credit card networks, Mastercard/Visa themselves are also usually not the credit issuer along with being but only payments processors

 

image.thumb.png.c1722dab89c0c4058e6a5bebf78228a9.png

Edited by Ripley
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1 hour ago, Ripley said:

Are you suggesting that ODL is a free service that Ripple provides to its customers out of the goodness of its heart? Or that the world-wide Market Maker partners provide liquidity for fiat on and off ramps for free? ODL may be super cheap, but it's not free. 

No worse than free, they pay people to use it. Have you not been paying attention? We have transparency about the payments to Moneygram because they are listed, others ODL users have mentioned receiving payments. The liquidity providers also seem to get paid. Bitso was also the beneficiary of a multi-million dollar investment from Ripple as well.

Ripple paid everyone it seemed, the poor XRP Hodlers are the only ones that paid.

 

2 hours ago, Ripley said:

Ripple, for example, stated its intent to start a Loans vertical to presumably fill this gap of a credit issuer for its smaller customers. If that pans out, Ripple may also be a credit issuer for its customers. 

"Intent", "may" Well it never happened. Even if it did what reason is there for anyone to ever borrow XRP. The consistent problem is liquidity providers ended up long XRP, hence all the subsidies to convert back to Pesos or whatever the local currency.

There is only one proven reason to borrow XRP, to short it.

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2 hours ago, xerxesramesepolybius said:

No worse than free, they pay people to use it. Have you not been paying attention? We have transparency about the payments to Moneygram because they are listed, others ODL users have mentioned receiving payments. The liquidity providers also seem to get paid. Bitso was also the beneficiary of a multi-million dollar investment from Ripple as well.

Ripple paid everyone it seemed, the poor XRP Hodlers are the only ones that paid.

 

"Intent", "may" Well it never happened. Even if it did what reason is there for anyone to ever borrow XRP. The consistent problem is liquidity providers ended up long XRP, hence all the subsidies to convert back to Pesos or whatever the local currency.

There is only one proven reason to borrow XRP, to short it.

We certainly don’t have to agree. I’m sure you trust your research as I do mine.

I sincerely wish you the best of luck.

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