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59 minutes ago, rainbowhunter said:

I may be wrong!! but as the value of XRP increases wont the destruction rate reduce, and to some degree is that not why a high value per XRP is good because transactions

will burn a smaller amount of XRP. 

Yes, that's how I see it. So if this goes relatively live at current conditions, more XRP will be destroyed as price is low, and hope it goes higher to then preserve the remaining bits!

This adds to the plan of the 55billion for lockout, so the coins aren't flooding the market and destroying them so quickly. 

 

 

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As far as the OP question...   the tran fee won't ever make a scarcity of XRP because it will be adjusted as required going forward.

Edited by Guest
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18 hours ago, Hodor said:

The atomic unit of the XRP Ledger is actually not "1 xrp" - each XRP is divisible into one million atomic units.  So there's roughly:

100,000,000,000 XRP X 1,000,000,000 atomic units = 100 000 000 000 000 000 000    (100 Quintilian units)  

@Hodor

Just to double check, shouldn't it be 100,000,000,000 XRP X 1,000,000 atomic units = 100 000 000 000 000 000 ?

I think 3 extra 0s were added if it was meant to be 1 million atomic units.

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11 hours ago, tulo said:

BTW to confirm, yeah it's around 5.5M XRP destroyed. With the old fee scheduled the fee was higher than the mean fee of now (around 10 drops now and around 0.01/0.1 XRP back then).

I think I myself burned around 100k XRP...(sorry @Sukrim for your SSD :D).

by looking at this trend, if XRP reaches 100$, we may see many XRPChat members in forbes list...:clapping:

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