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    Home Unlabelled Ripple Daily Ripple/XRP Discussion Thread 01/10/18 [Questions and Price Predictions]

    Ripple Daily Ripple/XRP Discussion Thread 01/10/18 [Questions and Price Predictions]

    January 10, 2018

    Ripple Daily Ripple/XRP Discussion Thread 01/10/18 [Questions and Price Predictions]

    Daily Ripple/XRP Discussion Thread 01/10/18 [Questions and Price Predictions]

    Posted: 10 Jan 2018 12:11 AM PST

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    submitted by /u/AutoModerator
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    Here's how and why XRP will be used by banks

    Posted: 10 Jan 2018 08:56 AM PST

    I've seen this over and over and over, "Banks don't need to use XRP to use the Ripple ledger". TRUE! But, here's why some are ALREADY using, and WILL ALL use XRP eventually.

    Ripple's approach to adoption is two-fold:

    1) Get the banks to use their ledger software to send fiat money (without necessarily requiring XRP), instead of the SWIFT way. This step is important because it doesn't radically change the way banks do things today, but it does give them some very valuable tools and real-time information about their money transfers. This is what most Ripple-partnered banks are talking about when they say they are using Ripple's products. What also comes with this software is a Ripple feature called xRapid, which leads us to step..

    2) Once banks are Ripple-integrated, they will have the 'option' of using XRP (via Ripple's xRapid feature), but they don't have to; but they will want to eventually; let me explain:

    The first adoption step puts the option to use XRP right in front of the banks' noses. And while at this time it may seem irrelevant to their existing infrastructure, it will be profoundly easy to start using XRP if they get curious. Why would they want to use XRP then?

    • it would take very little effort to start using the integrated xRapid feature
    • they would save an additional 30% on transfer fees
    • their competitors are using it, undercutting them and taking business away
    • and most importantly: ELIMINATES NOSTRO ACCOUNTS!!!!!

    Let me say that again because it's super important

    USING XRP ELIMINATES THE NEED FOR NOSTRO ACCOUNTS!!!

    That's right, the billions upon billions of dollars sitting idle in foreign bank accounts that are required for SWIFT and even Ripple's messaging software, can be recouped and reinvested by the banks, allowing them to make BILLIONS more from that money! And not only that money is freed up, but money that is currently locked 'in-flight' for 3-5 days during SWIFT transactions, TRILLIONS of dollars, will also be liberated so the recipient can spend that money again immediately. So instead of just one transaction a week, that same money can be re-used for potentially THOUSANDS of transactions in a week. The effect on the global economy will compound exponentially; equivalent to the effect of mail evolving to email. Imagine trying to step backwards to using paper mail to support the equivalent of daily email flow..

    So, please do not focus on the fact that banks don't 'have' to use XRP to send wires, because the same rationale could be applied in that the banks don't 'have' to send wires in the first place. They DO send wires though, because there's money to be made, and so if they can make even more money with those wires, then they are going to do that.

    SLIPPAGE

    I've also seen a lot of posts expressing concern that XRP cannot be used for transferring large sums because if the banks source their XRP from an exchange, it would take too long and would have an impact on the price (slippage), both buying and selling, and this would erase all the savings. Well my friends, banks will NOT be sourcing their XRP from exchanges, they will be sourcing XRP from Liquidity Providers (LP, or market makers). LPs are companies that stockpile enormous reserves of XRP with the intent of providing wholesale buys and sells to large customers, and it's the facility of the LP to spread that volume over time into and out of the exchanges. The fact that banks can lock-in a price with the LP conversion rates prior to committing to the transaction, means that LPs PERFECTLY SHIELD their bank customers from the volatility of the markets.

    For example, Bank of Canada wants to send $1 Million CAD to Bank of India. BofC will purchase $1 million CAD worth of XRP from a Canadian XRP LP. It will then send this XRP to the BofI, instantly. BofI will sell this XRP to an Indian XRP LP for Rupees. Transfer complete. Zero slippage, and the LPs will rebalance their holdings over time either by further buys and sells with other bank customers, or by slowly buying and selling on the exchanges, which is how XRP price is ultimately, if indirectly, influenced by banking activity. If the banks increase demand upon XRP, the LPs will be forced to buy more from the exchanges, and the price increases. LPs are also the fundamental reason why XRP incorporates a 'burn' rate on XRP, so that the price has a statistically-likely perpetual upward price momentum, making LPs statistically likely to be profitable over time, even if they have some losing periods.

    What is happening here at the highest level, is the 'privatization' of the function of nostro accounts. What used to be the burden of banks to have money strategically positioned all around the globe, has evolved into these much more efficient private LP companies that facilitate that same purpose at much more economical rates. Think of it like a 'pooled' nostro account that all banks can benefit from without any investment on their part. The LPs will be orders of magnitude more efficient at maintaining meaningful reserves and so these efficiencies are passed onto the banks in the form of very low transaction fees.

    I will be modifying this post as comments come in so I cover as much as is needed to make this clear. The FUD around banks possibly not using XRP just has to stop, it's really getting old.

    submitted by /u/galgitron
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    Why Ripple Is Still Bound For Coinbase (Eventually)

    Posted: 10 Jan 2018 11:09 AM PST

    Ripple is Getting Ready to Use its Blockchain Technology in Singapore

    Posted: 10 Jan 2018 01:56 AM PST

    Big Mexican exchange Bitso moving 31mil xrp around

    Posted: 10 Jan 2018 07:50 PM PST

    What we have seen is NOT A CRASH, it's a correction

    Posted: 10 Jan 2018 03:53 AM PST

    So I posted this almost a week ago and it didn't get much traction but maybe it will now.

    If you look at ETH's rise from 10 bucks to 400, you will see plenty of huge dips (in the region of 40% or more) before continuing on. After that peak at 400, ETH holders had to wait months before it went on this crazy run we are seeing now. Also, during the BTC bear market it lost almost 80% of its value from the ATH. Those holders held for years before experiencing the life changing gains that followed.

    If you are new to this and looking at charts, take some time to learn about it. This was not a crash. A crash would be a huge quick reversal of 70 or 80% from the ATH without any rebound.

    What we are in now (possibly seeing the end of) is a correction. That does not mean the upward trend has been broken. There was not a crash. We can still expect XRP to continue the upward move after this is over.

    If you bought higher and are in the red now, I have sympathy. But remember all those ETH holders who bought at 400 and waited months. They are now at 1300. And those BTC holders who bought at 1000 are now at 14000.

    If you believe the crypto market still has room to grow, and you believe that XRP still has potential, then steel yourself and hold. If you think you can sell and make more money trading other alts then fine, go and do it.

    If you are a holder, then be a holder. Don't think about selling out every five minutes and then change your mind because you saw one green candle on the one minute chart. Trust yourself to make the right decision and stick with it. Unless you are a skilled trader, that is the surest way to make money in this market.

    Good luck to us all.

    submitted by /u/_seoulite_
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    XRP has fallen since new year - what now?? Let me help you by having you ask yourself some questions

    Posted: 10 Jan 2018 11:35 AM PST

    There's a lot of uncertainty on Ripple's XRP right now. It's fallen and it seems like people only expect Crypto's to go up. Not down. Not even the tiniest fluctuation. The price rises 1000% but people can't wrap their head around it stabilizing on 650%.

    The more inexperienced people sell lower than their buy price to try to mitigate damage quickly. The pro's keep their cool, have years of experience and all the right programs and gain long term. They also daytrade and win margins, taking larger and larger bites of the market.

    So you invested in XRP? Then you investigated a little about it first, right?

    Look at their website:

    Take a look at the Ripple board of directors:

    Look up the interviews that Brad (CEO) has given until now:

    Look at the technology:

    Have a look at David Swartz, the Chief Cryptographer:

    Ask yourself:

    • Does the website seem professional?

    • How is the marketing function?

    • How does the CEO handle the interviews?

    • Would you say this Board has the experience enough for this?

    • How is it going with Ripple's main product, handling settlements between banks faster and cheaper?

    • Do you believe in the product suite?

    Why don't you investigate?!

    IMHO

    I believe in their main product. I believe in the people working at Ripple. The CEO radiates integrety and he's good at selling the product. I very much believe in David and the Ripple technology.

    I believe they will sell this product and I believe they are going to change the banking world. They are already on their way.

    I believe that the XRP currency will follow the success of Ripple.

    What do you believe?

    submitted by /u/doyoueventdrift
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    Less than 90 minutes to Ripple being listed on DMM. WE LOVE YOU JAPAN!

    Posted: 10 Jan 2018 05:33 AM PST

    DMM Group's Crypto Exchange has been launched! Ripple can be purchased directly with FIAT(Yen)!

    Posted: 10 Jan 2018 04:46 AM PST

    Breaking: Man who does not know what crypto is, swears it will fail

    Posted: 10 Jan 2018 08:23 AM PST

    Ripple is betting big on Asia (Business Insider)

    Posted: 10 Jan 2018 09:28 AM PST

    Swift handles $5 trillion per day!!!

    Posted: 10 Jan 2018 07:01 PM PST

    If you're just trying to understand the volume of electronic transactions generally to an order of magnitude, it's in the quadrillions of dollars per year. According the US Treasury, SWIFT handles about $5 trillion per day, or given about 250 business days per year, about $1.25 quadrillion dollars a year.

    Similarly, CHIPS handles about $400 trillion per year, and Fedwire handles around $900 trillion per year (most of both of these arise out of SWIFT messages). These transactions make up a large fraction of electronic transactions in the world, so it's safe to assume that the global total isn't much more than a few quadrillion dollars a year.

    There is plenty to gain for Ripple / XRP.

    Sources: https://www.fincen.gov/news_room/rp/files/Appendix_D.pdf

    https://www.theclearinghouse.org/payments/chips/helpful-info

    submitted by /u/Samsambo
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    For those of you who are panicking about the recent dip...

    Posted: 10 Jan 2018 03:49 PM PST

    Stop looking at the price. In fact, try to keep Ripple off your mind. The price is going to go back up big at some point. There are too many partnerships already announced and more to come for it to not go up again. Their Q4 report will be coming soon, probably next week or so. The price will go back up.

    Unless you're planning on buying more, stop checking the price because it's going to drive you crazy. If anything, just come here to see the new top posts of the sub. The news is really all you need to know for now. I'd also recommend staying out of the Daily Discussion, because even if you aren't checking the price, you may see people talking about jumping ship, and that'll make you think that it's continuing to dip. You may find inspiration to get into a new coin, but I feel like more often than not it's just going to bring worry. Just be patient and focus on something else and things will get easier on your mind.

    submitted by /u/WhyAmIStillOnline
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    Now I started to believe more that I invested into the right place...

    Posted: 10 Jan 2018 01:15 PM PST

    I have invested all of my BTCs in the middle of December into XRP. I got XRPs from 0.60 and I am planning to keep it at least 3 to 5 years.

    I was in doubt when I have seen the immediate raise because I believe, If everyone sees the same thing, this thing could be wrong. But now I feel great because Ripple looks steady right now and all weak hands, bettors left us alone and I am very happy to see that.

    Just Hodl guys, If you do believe in Ripple and its technology and the team behind it. I think most of the today's coins will disappear in 2018 but Ripple will be the main actor soon...

    submitted by /u/kerempi
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    Exclusive: China Plans to Shut Down Bitcoin mining operations, while Bank Of China Keep talking with Ripple

    Posted: 10 Jan 2018 08:55 AM PST

    The True Potential of Ripple and XRP

    Posted: 10 Jan 2018 07:04 PM PST

    If you quit now, you don't deserve what it comes.

    Posted: 10 Jan 2018 08:19 AM PST

    When you have something new and amazing, it's hard to convince people to hear you about it. They'll think you are crazy and if you live in a country that is not completely accustomed to use money and internet together, it's even harder.

    My first exposure to crypto was years ago, 2010 or something like that, i was a teenager, I got a little involved and then leave it. Back again when bitcoin was around 1000 for very first time, I saw the big drop and thought i was late.

    Now, in 2017 I returned to the crypto world, it wasn't totally new for me but I had my doubts, so I did invest an small amoun in ethereum, it worked well and then came the big ripple jump to the 3rd place in CMC. Ripple caught all my atention, I started to research and got convinced that it was the best investment (or gambling if you prefer).

    I started buying ripple in May, when it was between 0.30 and 0.40, continue buying when it drops around 0.20 and continue buying now.

    In this short long way I did mistakes, one of them cause me a lost of 20% (roughly) of all my tokens. The big lesson for me is: Don't be impatient.

    I wanted to share this for all the newcomers, there is a lot of room for growing if you are patient. Just do your research,

    Read, Ask, Chat.

    Do your own research and you'll realize.

    REMEMBER: If the fundamentals are strong, the fud is only a noisy crowd. They can yell at XRP but XRP will remain because is USEFUL, FAST, CHEAP and it has PROFESIONAL BACK UP.

    Bonus: If you like inspirational things just remember : "The stock market is a device for transferring money from the impatient to the patient." - Warren Buffet

    submitted by /u/robermeza
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    Ripple, the company behind cryptocurrency XRP, is betting big on Asia Read more:

    Posted: 10 Jan 2018 10:04 AM PST

    Guide us newbs to purchase Ripple

    Posted: 10 Jan 2018 04:45 PM PST

    Greetings! So there was a thread maybe about 2 weeks ago that listed how to purchase ripple. I have Coinbase, and I have Gatehub. I signed up for Binance, and haven't bee approved. Still, going on a month pretty soon. What I need help on is locating a exchange from litecoin and possibly ethreum. I have been looking to get ripple since mid November, but decided to wait and focus on finals. New semester now is the time. Please guide me in the right direction! Thank you!

    submitted by /u/big-woolie
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    Bittrex withdrawal fee dropped to 1 XRP

    Posted: 10 Jan 2018 08:08 AM PST

    How can I put my XRP into escrow?

    Posted: 10 Jan 2018 05:22 PM PST

    Hodling is hard. I spend too much time looking at the charts and want a way to stop thinking about the price of XRP at any particular moment. I've been in since 0.21 and have made some nice gains but I believe that Ripple as a team can execute on this vision and deliver much more value in the future, so I've decided to hodl.

    I'd like to take away the option to sell so I don't have a reason to check the charts - ideally doing what Ripple did with their own XRP, putting it into escrow. I would like to put my XRP in escrow with 5% becoming available to me each month in case I need it for an emergency. Does any one have experience locking their XRP away that could provide some pointers on this? I found this which mentions an escrow create transaction but theres a bunch of C++ code so really no idea how to make this happen. Any guidance would be appreciated!

    submitted by /u/ShipToShores
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    This will learn us

    Posted: 10 Jan 2018 09:22 PM PST

    For many people invested into xrp, and crypto in general for that matter, this is our first real investment. I'd say like 80% of this sub is filled with people who've just got into crypto in the last 1-3 months, which includes me. If you got into xrp around the stagnant period of .20, you've never experienced any sort of correction. It tests your emotions and your patience. View this correction as a learning experience and come out with a stronger hand. We just dropped a lot of the market because the majority of the price surges this past month have been from either people in it for the extremely short term, or people that don't have it in them to stomach crypto volatility to begin with.

    If we truly believe in this technology and the people behind it, it shouldn't be so concerning. I know many of us aren't worried one bit and probably haven't lost a wink of sleep, but I know first hand for a lot of us it's been quite stressful. We're all in different places in life and this investment means different things to different people.

    On another note, the amount of FUD, misconception, and straight bullshit Ripple and XRP are being bombarded with is straight appalling haha. It's kinda hilarious but pretty fucked up. People spend more time and energy bashing XRP than they spend promoting and discussing their own investment choices. Don't let this stuff get you, if you've done the proper research you know it's all propaganda. Just hold onto your ballsacks and hodl onto xrp. 🚀

    submitted by /u/the_porch_light
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    Ripple Price Prediction: XRP Poised for Recovery, Only Question Is When

    Posted: 10 Jan 2018 09:57 AM PST

    The perfect storm

    Posted: 10 Jan 2018 05:32 AM PST

    For anyone still worried about XRP's value drop remember this; XRP was hit hard 3 times in a few days. First Coinbase squashed the rumors of adding XRP (at least immediately). Then Coinmarketcap.com changed their market cap calculations to remove Korean exchanges (affecting XRP the hardest but the market as a whole pretty badly). Then Korea (XRP stronghold) started implementing new regulations causing panic selling and an overall loss of trust in crypto. There has been no bad news from Ripple so nothing has changed. XRP will bounce back shortly with many announcements coming soon. Hold tight everybody.

    submitted by /u/frig-off_ricky
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    Down But Not Out: Ripple Bulls May Regain the Upper Hand

    Posted: 10 Jan 2018 10:33 AM PST

    Make no mistake, the [tiny] crypto scene considers Ripple the enemy.

    Posted: 10 Jan 2018 07:13 AM PST

    Bitcoin and thus the crypto-coin community was founded on the idea of replacing the banks, hell, replacing the currency arms of the governments of the world, through the use of a better technology. It failed. It's now more centralized, both in terms of wealth control and network control, than most countries. But this hasn't stopped the idealists from dreaming that Bitcoin or some other coin will still acheive the original goal.

    And now the sleeping giants that run the financial world are starting to wake up and realize they can reap all the benefits of crypto-tech without facing the drawbacks of giving away control.

    Along comes Ripple+XRP and says "look, we gift wrapped it for you, you don't even have to figure it out yourselves"

    This has created a massive backlash, and the scene is doing everything in their power, including illegal market manipulation, to hold Ripple down.

    But the scene is a just tiny fishbowl full of thousands of minnows fighting to be the big fish. Meanwhile Ripple is already cutting deals with the sharks and the whales of the wider oceans. Right now, while the scene bickers over who has the best tech, the best ideals, the and is the most deserving to come out on top, Ripple is busy in the bank offices and the government policy meetings helping to decide the future of crypto in the wider world. They're going to leapfrog this tiny market and capture the lion's share of the financial institutions that run the world.

    I can't say it's necessarily fair, or what's best for humanity. But it's the way the world works. If you want in on the ground floor of something that is going to make Bitcoin look tiny in comparison in 10 years time, XRP is the place.

    And who knows, maybe they can make a difference from the inside.

    submitted by /u/gamedev368
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