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The Pyramids just became a little bigger


Fambam4093
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The news comes out but if you actually look at the ODL traffic no one is really using XRP. Sure they might be using XCurrent but there is very little XRP volume hardly worth writing home about. It basically comes down to Banks using ILP and not XRP. They don't need XRP for fast transfers between banks and they seem to be quite happy without it. The only thing that seems to move XRP price is the influence of BTC value.

Edited by Scout
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4 hours ago, Scout said:

The news comes out but if you actually look at the ODL traffic no one is really using XRP. Sure they might be using XCurrent but there is very little XRP volume hardly worth writing home about. It basically comes down to Banks using ILP and not XRP. They don't need XRP for fast transfers between banks and they seem to be quite happy without it. The only thing that seems to move XRP price is the influence of BTC value.

Wouldn't we not be able to track ODL usage of XRP that's hidden? Hasn't the fact that traffic can be hidden been discussed before? 

Isn't it cheaper to use XRP than not use it? Don't the rails still need to grow for optimum usage, efficiency and cost savings?

It'll happen for those that can stomach the risk and wait. Price today means nothing. 

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11 hours ago, BigJBear said:

Yup.. really struggling with this ..

 

Be patient big bear. This market is nuts. Expect to lose on paper for awhile if your new 'round here. Cryptos are lethal. It's a new market class. Think of it as the stock market prior to the SEC ever existing. The same market that made the Kenedy family millionaires. 

If we are entering a bear market, this pull back is nothing. Prepare for the roller-coaster of a lifetime. Buy low, sell high. Ladder your sales during euphoria, buy when there's "blood in the streets". 

Not investment advice, just speaking from crypto experience, which isn't worth much. 

Oh, and don't listen to anyone about when to buy. Don't ever send crypto to anyone who promises to return more back for free. Those are all scams. Good luck. 

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On 5/19/2021 at 11:09 PM, Scout said:

The news comes out but if you actually look at the ODL traffic no one is really using XRP. Sure they might be using XCurrent but there is very little XRP volume hardly worth writing home about. It basically comes down to Banks using ILP and not XRP. They don't need XRP for fast transfers between banks and they seem to be quite happy without it. The only thing that seems to move XRP price is the influence of BTC value.

Where do you look at the ODL traffic?

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On 5/19/2021 at 5:09 PM, Scout said:

The news comes out but if you actually look at the ODL traffic no one is really using XRP. Sure they might be using XCurrent but there is very little XRP volume hardly worth writing home about. It basically comes down to Banks using ILP and not XRP. They don't need XRP for fast transfers between banks and they seem to be quite happy without it. The only thing that seems to move XRP price is the influence of BTC value.

Sorry but there’re gaps in your understanding.

xCurrent and RippleNet are the same thing. It’s a faster messaging and routing system and almost all of Ripple’s customers today are only using this. 

ODL uses XRP and as the name says, “provides liquidity”. It has nothing to do with speed. ODL is a product that is available as an add on to RippleNet, and both are owned+maintained by Ripple.

ILP is essentially an effort to standardise movement of money over the internet. Think of it like this - there are video codecs like VP6, or H.264. Any of us can build a web conferencing solution using most browsers in a matter of weeks with chat, audio and video. But there is still market differentiation among Slack, Discord, Zoom, Teams, etc. even if at the core they’re all audio-video conferencing solutions.

When ILP becomes a reality, you need not use XRP. Just as you have a choice between H.264 and VP6, you’ll have a choice. The main benefit with ILP is that anyone can build a payments product. Not just companies with deep pockets like Ripple or SWIFT. Democratisation of payments.

All of this is to say ILP has nothing to do with ODL or banks or Ripple or XRPs price. 

Finally, the price of XRP. The whole crypto market has always been 99.5% whale manipulation and automated bot trading, with about 0.5% actual value.It’s not a good idea to be a momentum trader (or any kind of trader) here. Very high risk asset with significant volatility.

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Thanks for the reply.  However, I don't see gaps in my post. X-current still uses ILP for settlement without using XRP.

"xCurrent is built around Interledger Protocol (ILP), an open, neutral protocol, that enables interoperation between different ledgers and payment networks. The solution offers a cryptographically secure, end-to-end payment flow with transaction immutability and information redundancy".

"ILP Ledger enables transacting parties to settle funds atomically, which means the entire transaction settles instantly or not at all – no matter how many parties are involved."

Edited by Scout
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2 hours ago, Scout said:

Thanks for the reply.  However, I don't see gaps in my post. X-current still uses ILP for settlement without using XRP.

"xCurrent is built around Interledger Protocol (ILP), an open, neutral protocol, that enables interoperation between different ledgers and payment networks. The solution offers a cryptographically secure, end-to-end payment flow with transaction immutability and information redundancy".

"ILP Ledger enables transacting parties to settle funds atomically, which means the entire transaction settles instantly or not at all – no matter how many parties are involved."

Can you help me find where on Ripple's official website this is mentioned ? This is very old (and no longer valid) information to my knowledge.

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10 hours ago, Ripley said:

Can you help me find where on Ripple's official website this is mentioned ? This is very old (and no longer valid) information to my knowledge.

https://ripple.com/files/xcurrent_brochure.pdf

This information is correct. The main point of note is that AFAIK xCurrent uses an earlier spec of ILP and atomic mode was not carried though to later specs (a bad decision in my view, but I'm sure they had their reasons).

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1 hour ago, jbjnr said:

https://ripple.com/files/xcurrent_brochure.pdf

This information is correct. The main point of note is that AFAIK xCurrent uses an earlier spec of ILP and atomic mode was not carried though to later specs (a bad decision in my view, but I'm sure they had their reasons).

Like I said, this is from almost 4 years ago (October 2017). They rebranded xCurrent and xRapid. Stefan, who was the CTO at the time, left to setup Coil and pursue Interledger through a different collaboration with Ripple. ILP, IIRC, was Stefan’s brainchild.

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2 hours ago, Ripley said:

Like I said, this is from almost 4 years ago (October 2017). They rebranded xCurrent and xRapid. Stefan, who was the CTO at the time, left to setup Coil and pursue Interledger through a different collaboration with Ripple. ILP, IIRC, was Stefan’s brainchild.

and? this doesn't make xCurrent suddenly change how it works. RippleNet uses an older ILP version, coil uses a newer one. Ripplenet isn't a public network, so they can do what they like on it.

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