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    Home Unlabelled Ripple Daily Ripple/XRP Discussion Thread 05/02/18 [Questions and Price Predictions]

    Ripple Daily Ripple/XRP Discussion Thread 05/02/18 [Questions and Price Predictions]

    May 02, 2018

    Ripple Daily Ripple/XRP Discussion Thread 05/02/18 [Questions and Price Predictions]

    Daily Ripple/XRP Discussion Thread 05/02/18 [Questions and Price Predictions]

    Posted: 02 May 2018 01:13 AM PDT

    Hello! It's Wednesday. Welcome to our daily discussion thread. Put your commentary in here.

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    Ripple is going after the $1,200 trillion derivatives market with Codius!

    Posted: 02 May 2018 07:32 AM PDT

    This is how Ripple and XRP are transforming the payments sector and will replace SWIFT

    Posted: 02 May 2018 01:11 PM PDT

    Ripple faces UK Parliament, says financial institutions have sent around $1 Billion using its technology

    Posted: 02 May 2018 02:18 PM PDT

    FastTech.com Now Accepts Ripple as Payment

    Posted: 02 May 2018 01:29 AM PDT

    XRP seems to get closer to be the W3C standard

    Posted: 02 May 2018 06:28 AM PDT

    There have been previous discussions to the role of Ripple/Interledger and XRP. E.g. here: https://www.reddit.com/r/Ripple/comments/80m67c/w3c_payment_requesthandler_api_microsoft_google/

    It seems sth happening in the background right now. The latest Video of bearableguy123 Decoder brought it back into my mind. The Video is here: https://www.youtube.com/watch?v=plEP24vt7Qs&t=24s

    When searching a little I have found in addition this W3C document (last updated today): Web Payments: Capabilities 1.0 - https://dvcs.w3.org/hg/webpayments/raw-file/default/latest/capabilities/index.html.

    This harmonizes quit good with this statement of Adrian Hoppe-Baille from late December 2017: https://twitter.com/ahopebailie/status/946302024869695489

    Yes. We are working on a payment method spec for @Interledger that would allow any compliant wallet/merchant to use @Interledger as the common protocol over any funding source or any merchant account type. $XRP included of course

    The referenced W3C Payment handler githup document is here: https://w3c.github.io/payment-handler/

    If this is launched this will not only be the way to go for Apple Pay, Google etc. but for everybody handling payments over the internet.

    submitted by /u/The-Foundation
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    2020 Prediction: Why Ripple Will Still Be In the Top 10.

    Posted: 02 May 2018 08:04 PM PDT

    Great explanation of why XPR is NOT a security, according to Scott Chamberlain (Lawyer, Academic)

    Posted: 02 May 2018 02:27 AM PDT

    @Ripple: For a more in-depth look at our stance on thoughtful regulation following the @UKParliament hearing, read this piece from @RyanZagone. https://t.co/b28jrJuE4Q

    Posted: 02 May 2018 05:08 PM PDT

    The Ripple Smart Contract Platform: Codius

    Posted: 01 May 2018 11:43 PM PDT

    For those that dont know or have not heard, Ripple had a smart contract platform that was discontinued in 2015 because it was ahead of its time. They have now revived this project and it is screaming BULLISH!

    Their site is live again and it is in beta now: http://codius.org

    submitted by /u/RatJumper
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    Sounds like crypto is getting mixed reviews/evaluations by different people at the SEC but I think this is a step in the right direction.

    Posted: 02 May 2018 04:00 PM PDT

    Ripple Defends Digital Currencies at UK Parliament Hearing Debate

    Posted: 02 May 2018 12:27 AM PDT

    Ripple Put on Defensive at UK Parliament Blockchain Hearing

    Posted: 02 May 2018 09:34 PM PDT

    Skepticism dominated a Tuesday hearing on cryptocurrencies and blockchain at the U.K. parliament, but it was not the members of parliament (MPs) who set the negative tone.

    Rather, it was interbank payments startup Ripple's XRP cryptocurrency and blockchain platforms that came under fire as Martin Walker, director of the non-profit Centre for Evidence Based Management and a former product developer at blockchain consortium R3, claimed that the technologies are unlikely to solve inefficiencies in the financial sector, specifically criticizing Ripple's current products.

    Defending Ripple's record was director of regulatory relations Ryan Zagone. Dr. Grammateia Kotsialou, a postdoctoral researcher at King's College London and Chris Taylor, chief operating officer at asset tracking blockchain startup Everledger, filled out the panel, which answered questions from the British Parliament's Treasury Select Committee.

    During his testimony, Zagone cited the ability to track money transfers as a core benefit of the company's technology. However, Walker argued that the company's model offers little more than the existing SWIFT messaging system, saying "the hard thing about tracking payments is actually getting the people involved in the payments to actually upload the status."

    "So simply having a blockchain doesn't actually get people to update the status of where the payment is," he continued.

    Likewise, he criticized Ripple pilot projects that propose to use XRP as a means of bridging two currencies in an international transaction - a role that the U.S. dollar commonly occupies.

    "You have the concept of a crossing currency to deal with that scenario where there's a lack of liquidity," Walker explained, remarking further:

    "You need someone to provide the liquidity to be able to change into and out of Ripple. And holding Ripple, a currency which has seen its price drop 80 percent and then back up 100 percent in the course of the last two months is just not credible. So, putting cryptocurrencies into the financial sector is a huge source of risk."

    The ministers at the hearing also turned their attention to Ripple, specifically expressing confusion regarding XRP's relationship to Ripple Labs.

    MP Stewart Hosie commented that "if people buy XRP, a financial asset from Ripple Laboratories, it doesn't entitle them to an ownership stake, there's no right to be converted back into conventional currencies, and it doesn't pay any return. It also seemingly has no purpose."

    However, Zagone pushed back against this statement, saying "that's a common misperception."

    He told the panel:

    "XRP is open source and it was not created by our company, so that existed as an open source technology. We created a company that was interested in modernizing payments and then began using that open-source tech to do so ... We didn't create XRP ... What we do have is we do own a significant amount of XRP, it was gifted to us by some of the open-source developers that created it. But there's not a direct connection between Ripple the company and XRP."

    Asked whether XRP was designed to avoid regulations, Zagone reiterated his statements from earlier in the hearing that Ripple only sells XRP to institutional investors and not retail consumers, and likewise that the company merely makes use of XRP, but is not directly connected to it.

    With the conclusion of the hearing, Walker advised the Committee to think critically about blockchain technology and cryptocurrencies, concluding

    "I would just urge the committee that we do not repeat the mistakes that have been made over and again of getting blinded by the word innovation, particularly relating to financial products."

    The full hearing is now available online.

    UPDATE: This article has been updated to indicate Walker was previously employed by R3.

    Parliament Square sign image via Shutterstock

    submitted by /u/s_RAJs
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    @Ripple: .@ashgoblue is giving a webinar on #blockchain and building the #InternetofValue with @sharespost at 10am PST today. Don't miss it! https://t.co/KuvlYF5tmt

    Posted: 02 May 2018 09:33 AM PDT

    @Ripple: We're about to start Make the Meme. Remember: To win, you must include @Ripple, #XRPCommunity, "P1" or "P2," and your caption in one tweet. https://t.co/iJnehrgYa8

    Posted: 02 May 2018 04:03 PM PDT

    Concerns regarding the distribution of XRP

    Posted: 02 May 2018 03:45 PM PDT

    I've been into XRP for quite some time now and while I've done lots of research, I have never heard anyone address the following:

    Ripple holds over 60% of all the XRP created.

    My concern about this is, how will anyone accept Ripple to succeed with leveraging XRP in order to become the global bridge asset if that in turn means that Ripple the company will become one of the most wealthiest companies in the world. By the insane valuations thrown around here (me included), it would be the force to be reckoned with in the future. My question is, how will anyone accept this (governments, banks, etc)?

    Just a gentle reminder: I am not trying to spread FUD, just trying to have a discussion with others who are interested in XRP and are willing to share their opinions. I feel sick writing these last few sentences, because we shouldn't bash on people who are critical. We should embrace them, because critical people are needed in order to advance in every part of life.

    submitted by /u/MrPear_
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    There's not a direct connection between XRP and Ripple the Company

    Posted: 02 May 2018 07:55 PM PDT

    Edit: Stuffed the link up twitter!

    This guy needs an education. The miss-information presented by Martin Walker as evidence at the UK parliament is gaining a bit of traction.

    Full submission for those interested

    XRP (Ripple)

    Imagine running a business that can raise money from retail (i.e. non-expert) investors to enrich your founders and fund your businesses without needing to comply with any of the rules relating to listings or issuance of securities. If the financial asset you sell, is labelled as a cryptocurrency it seems none of the laws (across multiple jurisdictions) designed to protect the public apply.

    The XRP cryptocurrency was not "mined" but simply created by Ripple Laboratories. 100 Billion XRP have been created in total, mostly shared between Ripple Laboratories and the founders of the company. In 2017 alone, Ripple Laboratories earned over $180m[9] by selling its cryptocurrency to a range of investors by sales on cryptocurrency exchanges. This means that retail investors can directly buy a financial asset from Ripple Laboratories that does not entitle them to any ownership stake in the company, has no right to be converted by Ripple Laboratories back into conventional currencies, does not pay any return and seemingly has no purpose (given its lack of adoption by the banking sector). There is no available data on the income made founders of the company selling their XRP.

    XRP is intended to act as "crossing currency" allowing international payments to be exchanged into and out of XRP where there is insufficient liquidity in the relevant pair of currencies. It is also claimed to avoid the need for banks and other companies to maintain large balances in foreign currencies to smooth their international payments process. XRP has not been adopted by banks because the concept does not make sense. Using a highly volatile cryptocurrency, instead of the de-facto crossing currency the US dollar, would ultimately increase the cost of international payments by widening spreads. It would expose any bank holding significant volumes of XRP to colossal market risk. Finally, it would mean the financial sector handing tens of billions of dollars of real currency to Ripple Laboratories for seemingly no benefit. If you are going to place a large amount of "funny money" into a cross-currency payments system, even if based one a Ripple's technology, why does it have to be XRP? Why not Zimbabwe dollars or Venezuelan Bolivars?

    Ripple Laboratories creates a great deal of publicity aimed at the general public about its 100+ customers in the banking and payments sector. As a private company, it does not have to disclose the nature of those relationships or where the company generates revenue from. XRP investors seem to think they are buying into the future of the company as much as the currency,

    submitted by /u/Mastodonic_
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    @Ripple: P1: Use this image and "Internet of Value" #XRPCommunity. https://t.co/LumV0seKEE

    Posted: 02 May 2018 04:08 PM PDT

    @Ripple: Go forth and create! You have 24 hours to submit your meme captions! #XRPCommunity https://t.co/iJnehrgYa8

    Posted: 02 May 2018 04:13 PM PDT

    Upcoming Event: Make the Meme - May 2, 2018 4:00 PM - 11:59 PM

    Posted: 02 May 2018 07:00 AM PDT

    @Ripple: P2: Use this image and "cost" #XRPCommunity. https://t.co/Tmc4Sbce00

    Posted: 02 May 2018 04:13 PM PDT
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