The Ripple Thread

grindle

Bob24 wrote: »

$10 is not impossible.

$130k BTC & $4.3k ETH EOY confirmed.

Daithi40

grindle wrote: »

$130k BTC & $4.3k ETH EOY confirmed.

Link please...:)

el diablo

Daithi40 wrote: »

Link please...:)

Hoping you're not serious...

grindle

el diablo wrote: »

Hoping you're not serious...

...hoping he is. :pac:

Daithi40

grindle wrote: »

...hoping he is. :pac:

of course I am!

Daithi40

Daithi40 wrote: »

of course I am!

Oh and EuroMillions numbers as well....ta

noel100

XRP best ever digital asset ever invented.
Convergence which is XRapid, Xcurrent, Xvia in a software suite ripplenet.
All this software will be pushing XRP use case .
Payment rails starting out is bitrex to bitso & coins.ph. we will see payments going through this soon
XRP is the only crypto that has real use at the moment.
XRP has the potential to go above$500 as more payment rails are added. Xvia is being trialed with SAP. Real time settlement and low cost is the key to XRP.
The potential for ripple and xrp is enormous.

makeorbrake

noel100 wrote: »

The potential for ripple and xrp is enormous.

Anyone watching crypto is familiar with 'potential'. :-)

And commendable with regard to XRP, they are much closer to actual use case. ...so it's either about to realise that potential or not.

Do you see any regulatory hurdles for any of the banks in their consideration of adoption of an xRapid based solution?

noel100

XRapid is the software solution so banks won't have to hold XRP.( By passing regulatory uncertainty)
I believe XRP will have regulatory certainty ripple have been working with the SEC IMF UN World bank and FED. XRP has regulatory certainty from many other central banks around the world. NASDAQ are going to list XRP in the new year. Bakt is a custodial service will be available in November will hold XRP. So much news to much to say. SBI payment app got approved and will be running xrp across 80% of banks in Japan also will be able to send remittance through the app when other apps and banks have joined the ripplenet

Dohnjoe

noel100 wrote: »

XRapid is the software solution so banks won't have to hold XRP.( By passing regulatory uncertainty)
I believe XRP will have regulatory certainty ripple have been working with the SEC IMF UN World bank and FED. XRP has regulatory certainty from many other central banks around the world. NASDAQ are going to list XRP in the new year. Bakt is a custodial service will be available in November will hold XRP. So much news to much to say. SBI payment app got approved and will be running xrp across 80% of banks in Japan also will be able to send remittance through the app when other apps and banks have joined the ripplenet

Have been lazy and not read up much on XRP recently..

Is XRapid a standalone system? does it actually require the use of Ripple tokens? (or is it like Swift?)

Likewise Ripplenet? does it require the use of Ripple tokens?

What part of the whole Ripple project involves users of Ripple systems purchasing actual Ripple to use it? How much would they have to purchase to facilitate transactions? and if so, could they purchase e.g. 1 XRP to facilitate a 100mm xborder transaction, or would it have to be equivalent XRP to the cash/settlment value that they move?

Bob24

On actual use cases and regulation, just my two cents and I could be wrong but what I think is that Ripple probably has one or two potential customers for xRapid who have trialed it and would be interested in using in it production, but are unwilling to pull the trigger until the regulatory aspect is cleared-up at least in the US.

So regulation is extremely key to the future of XRP and things could move quickly one way or the other once there is more clarity, but it is honestly very hard for anyone on this thread to have good insights about where it’s going.

galway321

Dohnjoe wrote: »

Have been lazy and not read up much on XRP recently..

Is XRapid a standalone system? does it actually require the use of Ripple tokens? (or is it like Swift?)

Likewise Ripplenet? does it require the use of Ripple tokens?

What part of the whole Ripple project involves users of Ripple systems purchasing actual Ripple to use it? How much would they have to purchase to facilitate transactions? and if so, could they purchase e.g. 1 XRP to facilitate a 100mm xborder transaction, or would it have to be equivalent XRP to the cash/settlment value that they move?

xRapid is the third software offering from Ripple (others being xVia and Xcurrent). xRapid is the solution that uses XRP to source liquidity so each cross boarder transfer would have a buy and sell of XRP from an exchange. (FYI Ripple recently partnered with three exchanges that I understand xRapid will tap into to buy/sell XRP to complete these transfers). The amount of XRP bought will depend on the current price - ie to transfer €100 from Europe to Japan will be buy approx 222 XRP for €100 which are sent to a Japanese exchange where there are sold for JPY. The time to complete this is less than 10 seconds so the buy/sell will be quick and have limited price impact in itself. The real difference to price comes if the daily transfers scales up to SWIFT-like levels. SWIFT currently completes approx 5 trillion dollars worth of transfers per day. The total XRP in existence is high at 100 billion so Ripple need to capture a significant amount of international transfers and also have market makers etc stockpile XRP in order for significant price increases to happen and for those price levels to be maintained.

noel100

I don't know what you are reading must be FUD

There is 3 items in the software suite.
Xcurrent, XRapid, Xvia

Xcurrent can do real time settlement using IPL. With fx charges but real time payment.

XRapid is software developed to use XRP so banks don't have to hold XRP.

Xvia is a plug-in used backend of software packages like termenos and Sap will automatically use which is cheapest fx or xrp to complete a settlement in real time.

I'm fully aware of risk and reward of XRP as a digital asset. Potential is huge if XRP becomes the liquidity pool I believe it will become in the future.

Example swift process 5 trillion dollars a day. If ripple were to obtain 10% of that market XRP could have a value of hundreds of dollars. If they had full swift business, xrp could potentially hit over $1000. If you look at termenos is working on the backend of swift platform and if ripple are plugged into termenos with their API could mean XRP could take on a large amount of swift transactions in the background with Tellers in banks still using swift software platform.

Dohnjoe

noel100 wrote: »

Example swift process 5 trillion dollars a day. If ripple were to obtain 10% of that market XRP could have a value of hundreds of dollars.

Thanks for the explanation but I still don't get the flow here..

Can you break it down? especially in relation to how the value of XRP will go up?

Traditionally if a bank wants to wire out cash, e.g. long balances at the end of the day, they input and send a swift instruction, the cash is positioned, then sent out. There is a small fee.

What will be different with Ripple's system that will cause XRP to rise to e.g. hundreds of dollars in value each

will56

Dohnjoe wrote: »

Thanks for the explanation but I still don't get the flow here..

Can you break it down? especially in relation to how the value of XRP will go up?

Traditionally if a bank wants to wire out cash, e.g. long balances at the end of the day, they input and send a swift instruction, the cash is positioned, then sent out. There is a small fee.

What will be different with Ripple's system that will cause XRP to rise to e.g. hundreds of dollars in value each

XRP has to be bought and sold for the transaction to take place.

A higher price per XRP works in the banks favour because they need less XRP per transaction

Bob24

will56 wrote: »

XRP has to be bought and sold for the transaction to take place.

A higher price per XRP works in the banks favour because they need less XRP per transaction

How is using less XRP per transaction a benefit?

As far as I know the transaction cost is 0.00001 XRP regardless of the amount transferred (and can surge if the network is overloaded).

So actually, a higher XRP value means higher transaction costs for banks. Which seems more of a disadvantage than an advantage for them (even though transaction costs would remain very low compared to swift cost even with a 100 or even 1000 dollars XRP).

asteroids over berlin

some of the projections for Xrp by so called crypto evangelists are farcical. If they do release these xrp solutions to integrate with ripple and is indeed adopted, realistically $10 would be an amazing achievement, that probably wouldn't happen for quite a few years though. Be careful!

noel100

$10 is predicted within the next year...
I can see xrp go above $100 and the potential to go higher.
At $10 market cap is $400billion
That will give about $100-200billion in liquidity pool depending on how many people are holding.
If XRP is successful and there is an preferred exchange built in each country for currency pair.
I'm looking at the bigger picture as XRP being the only supra-national currency.
XRP will link every bank around the world with real time settlement.
Watched a forex trader talking on an interview talking about XRP being the base that all currencies will be traded into next 2-3yrs. 5.1trillion dollars daily so liquidity pool has to be around 10-15 trillion dollars (300-400 per XRP) and that's not including all other transactions from remittance, SAP intergration with real time payments (42000 large and medium businesses that have currency exposure)
If the pool gets big enough you'll have bonds, treasuries, shares and derivatives go through XRP this will send XRP into the thousands......
Bitrex a few weeks ago sent $100 million to japan presume it was SBI several transactions took place and XRP rallied as it was like an engine turning on for the first time. XRapid probably being used in a trial but it kicked off the rally to where we are now. So if they are building payment channels slowly with bitrex to coin.ph and bitso. If they capture these channels that is over $2 billion a day.
So if we have large payments going through these exchanges and the price is cheap eg $50million from bitrex to bitso that means sending 100million XRP at current price from 1 exchange to another.

wonga77

I hope you are right, we'll all be millionaires

noel100

wonga77 wrote:

I hope you are right, we'll all be millionaires

It's a waiting game now. Id expect with the the forth coming rally from Bitcoin and real case use of xrp will send XRP to the moon.
I have bought a ton XRP as I call it excelerated retirement fund.
XRP is going to be the first digital asset to have real utility.
I'd say XRP will have a higher market cap than Bitcoin. But if it doesn't they will send Bitcoin into the millions to keep the market cap advantage.

Dohnjoe

will56 wrote: »

XRP has to be bought and sold for the transaction to take place.

A higher price per XRP works in the banks favour because they need less XRP per transaction

Doesn't this complicate things? with wire transfers in the billions won't the volatility of XRP play an issue? won't they face exchange risk by having to purchase XRP to cover the WT?

If a bank skips the exchange and has to keep a pool of XRP, that's surely a massive cost and risk

Also can anyone explain the flow of this?

Dohnjoe

noel100 wrote: »

$10 is predicted within the next year...

Maybe, maybe not, no one knows, medium/long term predictions in crypto are total shots in the dark, typically by holders

Bob24

Dohnjoe wrote: »

Doesn't this complicate things? with wire transfers in the billions won't the volatility of XRP play an issue? won't they face exchange risk by having to purchase XRP to cover the WT?

If a bank skips the exchange and has to keep a pool of XRP, that's surely a massive cost and risk

Also can anyone explain the flow of this?

Volatility isn’t really and issue as transfers are completed within a few seconds (and even with very high volatility the probability of XRP changing value significantly in the let’s say 5 seconds a transfer takes is not higher than the probability of 2 fiat currencies changing value by as much in the hours or even days an international swift transfer can take).

Also from what I understand with xRapid banks don’t have to hold a pool of XRP.

My understanding of what they explain on their website: if let’s say a bank issues a transfer order for 100000 euros to a USD account, xRapid will buy XRP for 100k euros, transfer these XRPs towards the recipient, sell them for USD, and credit the recipient with those USDs. So in effet that process only requires to hold 100k euros worth of XRP for a few seconds.

I would add that because of how it works, if xRapid was to be used by financial institutions in production environments these constant short lived transactions would greatly increase the liquidity of XRP (and higher liquidity should mean lower volatility).

noel100

Dohnjoe wrote:

Maybe, maybe not, no one knows, medium/long term predictions in crypto are total shots in the dark, typically by holders

Initially when I was looking at XRP I thought$5-10 would be fantastic return on current price and still is.

I have made my investment long-term and will sell my stake when it hits between $5-10. Then will leave all the rest of my xrp and see where it goes. I will evaluate my selling based on future price points.

Dohnjoe

Bob24 wrote: »

Volatility isn’t really and issue as transfers are completed within a few seconds (and even with very high volatility the probability of XRP changing value significantly in the let’s say 5 seconds a transfer takes is not higher than the probability of 2 fiat currencies changing value by as much in the hours or even days an international swift transfer can take).

Also from what I understand with xRapid banks don’t have to hold a pool of XRP.

My understanding of what they explain on their website: if let’s say a bank issues a transfer order for 100000 euros to a USD account, xRapid will buy XRP for 100k euros, transfer these XRPs towards the recipient, sell them for USD, and credit the recipient with those USDs. So in effet that process only requires to hold 100k euros worth of XRP for a few seconds.

I would add that because of how it works, if xRapid was to be used by financial institutions in production environments these constant short lived transactions would greatly increase the liquidity of XRP (and higher liquidity should mean lower volatility).

Thanks, I really should just go and read about this

If a bank buys on a crypto secondary exchange, even for a few seconds, they take on risk - regulations may not allow them to take on such risk with clients money

Anyway yeah I have to look into the details

Bob24

Dohnjoe wrote: »

If a bank buys on a crypto secondary exchange, even for a few seconds, they take on risk - regulations may not allow them to take on such risk with clients money

There is always a risk related to exchange rate when you deal with multiple currencies (that risk also exists with a Swift transfer).

The questions are more how large that risk is and which stakeholder in the transaction is taking the burden for it.

I honestly don’t know exactly who is taking that risk as part of a Swift transfer but what I am sure of is that there is one.

As long as something similar is done with xRapid there should be no regulatory difference with Swift related to exchange rates.

PS: and if you mean there is a risk with the exchange being fraudulent, I wouldn’t have any concern with that as Ripple is well capable of providing safe and ample supplies of XRP though their prefered partners or their own pool of XRP.

Dohnjoe

Bob24 wrote: »

There is always a risk related to exchange rate when you deal with multiple currencies (that risk also exists with a Swift transfer).

When wiring out a currency there is no exchange risk as the cash is not being converted nor exchanged on a secondary market. The only "risk" is the Swift network going down (or correspondent banks) but all of that is carefully calculated and of course integrated into SLA's

If you had e.g. USD 10 mm to your name and I said you can send it really fast somewhere but we just have to quickly convert it on a Turkish exchange to TRY currency - even if it's just for a few seconds, you'd be quite rightly concerned, there would be currency risk and exchange risk

This is the part I am interested in - how they do this XRP conversion part without risk and exposure

I'll have a dig around about this later

makeorbrake

There are many twists and turns with crypto. This brings me back to why I initially had a dislike for Ripple - centralisation.

noel100

Ripple is the company and XRP is separate from ripple. It is decentralized and ripple only control 7% of the nodes while Bitcoin and ether have over 50% hash power controlled by main net in China..

makeorbrake

noel100 wrote: »

Ripple is the company and XRP is separate from ripple.

And in the context of the guys claim above?

noel100 wrote: »

Bitcoin and ether have over 50% hash power controlled be main net in China..

Totally uncontested. I'm not a BTC maximalist.

Bob24

makeorbrake wrote: »

And in the context of the guys claim above?

Is there any substance to his claim that “Ripple [the company] chooses new "unique node list"” though?

I don’t see anything in the paragraph he quotes as a justification for his claim which is confirming that.

Mind you, I don’t know the details of how XRP works so I’m not saying it is one way or another, but in this particular case it looks like to me he’s just a guy who wanted to make a negative claim about it and picked whatever paragraph he could find on the Ripple website which might look like it confirms his claim if you don’t actually read it carefully (if you go through his tweeter feed he basically keeps saying bitcoin is great and altcoins are scams).

makeorbrake

Bob24 wrote: »

Is there any substance to his claim that “Ripple [the company] chooses new "unique node list"” though?

Yup, that's why I'm asking the question.

Bob24 wrote: »

(if you go through his tweeter feed he basically keeps saying bitcoin is great and altcoins are scams).

It's one of the most frustrating things with crypto. EVERY project has community around it that's largely partisan. It's been very hard to find objective info, once money came into it. Ripple won't be immune to that either. I just find it useful to try and work through all the 'objections'. If a coin can come out the right side, then there's merit in it.

Truckermal

It's rising nicely again! I should have bought back at .39 but was hoping it would drop down more!

Will we see a dump again or should it rise away?

noel100

Hard to know, if info is good from swell and XRapid going live could keep going higher.

Tinder Surprise

Whats the news breaking this eve about XRapid.

Seems positive ...let's see

Bob24

Ripple has announced that 3 companies are new using xRapid for real payments: https://www.coindesk.com/ripple-event-reveal-3-companies-are-now-using-xrp-for-real-payments/

Having said that none of those 3 seem like major clients to me so not too sure how big a news it is or not. *Might* be worth grabbing some XRP ...

noel100

3 companies using XRapid so Xrapid is live
Multihop was the news yesterday so over 120 bank's using Xcurrent are connected to other XRapid partners to send their payments through XRapid when needed.

Tinder Surprise

Tinder Surprise wrote: »

Whats the news breaking this eve about XRapid.

Seems positive ...let's see

Damp squib..sorry guys

will56

Tinder Surprise wrote: »

Damp squib..sorry guys

The sell walls that go up when there is any sort of movement doesn't help things.
I imagine a lot of people are looking to break even, take their profit at this lower level and then wait and see what happens.

Bob24

If it was seen as major breakthrough it would trigger buy pressure and volumes would increase though, so for now there doesn’t seem to be any excitement about announcement.

So while a delayed reaction is always possible (I far as I can recall this was the case last time around and prices/volumes surged a few days after the executive talked about imminent launch), for now it seems fairly lacklustre.

grindle

There seems to be some fantastical thinking going on whereby XRP zealots imagine businesses are going to push every last drop of their liquid funds into XRP immediately now that it's available to use.

It's going to be piloted methodically. Profit-churning businesses aren't retarded, they're making profits in the face of stiff competition because slow and steady wins the race. They'll start with transfers worth tens of thousands, then hundreds of thousands, then millions, then tens of millions, then hundreds of millions and maybe billions.
Merely taking part in piloting any blockchain places them at an advantage over competitors who're slower to move, they don't need to go all-in and pump the bags of a few hundred thousand scrotes who want to retire by Xmas 2019.

Bob24

grindle wrote: »

There seems to be some fantastical thinking going on whereby XRP zealots imagine businesses are going to push every last drop of their liquid funds into XRP immediately now that it's available to use.

Non-issue IMO. I’m not saying they don’t exist but I haven’t seen many people (even amongst XRP enthusiasts) saying that “businesses are going to push every last drop of their liquid funds into XRP immediately”.

grindle

Bob24 wrote: »

Non-issue IMO. I’m not saying they don’t exist but I haven’t seen many people (even amongst XRP enthusiasts) saying that “businesses are going to push every last drop of their liquid funds into XRP immediately”.

I thought that line would be taken as obvious hyperbole, especially on a crypto forum.
Anyway, I've seen plenty on the ripple sub, ethtrader and /r/cc who think XRP alone will hit a trillion cap very soon, it's either crazy-delusional or some terrible shilling that wants to hype and dump bags for an easy 2x.

Bob24

grindle wrote: »

I thought that line would be taken as obvious hyperbole, especially on a crypto forum.
Anyway, I've seen plenty on the ripple sub, ethtrader and /r/cc who think XRP alone will hit a trillion cap very soon, it's either crazy-delusional or some terrible shilling that wants to hype and dump bags for an easy 2x.

The reason I took it literally is that you then proceeded to explain why it won’t be happening (“they’ll start with transfers worth 10000s”, “they don't need to go all-in and pump the bags of a few hundred thousand scrotes who want to retire by Xmas 2019”, etc). Didn’t seem very useful to explain why what is meant to be hyperbole won’t be happening in practice so I assumed you were actually replying to a percieved group of people who really think that way.

In any case yeah thinking XRP will be worth 100 euros by year end as some people post on Twitter/reddit is obviously deluded, but having send that it is their own problem and we can simply ignore them.

And at the other end of the spectrum we can also ignore people (probably at least as vocal) who say XRP has no future and will definitely become worthless.

It’s hard to know where it’s going and nothing is for sure, but there definitly is some potential.

grindle

Ignore the shillers if you want I guess, I think it's more helpful to talk about things because the vast majority of every forum's users are lurkers. More info is better than no info.

Truckermal

Still no movement even after all the positive news! I guess we will just have to hold tough for longer!

makeorbrake

Truckermal wrote: »

Still no movement even after all the positive news! I guess we will just have to hold tough for longer!

You're kidding, right? It increased 66.66% in the last 51 days

Truckermal

makeorbrake wrote: »

You're kidding, right? It increased 66.66% in the last 51 days

Ah yeah but that's after everything crashed!

If you bought at .23 then your on a winner!

SachaJ

In fairness I even think at 0.40-ish is a decent price (if you're not day trading) and up about 10% in the last week. I'm still accumulating anyway in dribs and drabs.

will56

Ripple making a move and seems to be independent of BTC for a change
Hoping this is not another pump and dump