So the release from escrow is simply to manage supply in their experiment. They can’t manipulate the value because they risk falling on the wrong side of the SEC. GOOGL ($737 MCap) is not thinking about $27B Ripple’s market cap as the investment. The success of the labs will have little to do with the nominal value of the coin. Whatever technology they develop will be applied in a different and unrelated manner.
As an add, I wouldn’t sell today. But in two weeks when markets simmer I *personally* would take whatever price was offered.
the biggest crypto bull i know sold a good % of his holdings today. what a durp
lol what was he holding? I see a pretty strong correlation between crypto and the domestic ECMs the past week. That being said I think both have further to fall. Not a buyer of the S & P bounce today. Two days of massive selling and now all fear is gone again? Highly doubt it.
i have a feeling you are doubting the wrong things my friend.
bulk market appears fully intact. no flight to safety whatsoever.
bs’s points all valid. ripple may want xrp to do well but banks want a currency that doesn’t fluctuate. don’t be surprised if ripple launches a new currency pegged to the USD or a basket of currencies.
They need to correct more. 2 days of pulling back was hardly enough. But we will see. The real fun will start next year in ECMs : /
Valid somewhat, the fluctuation argument doesn’t really hold though considering it settles in literally 3 seconds. In addition, Ripple labs has said there is great interest in firms signing up to essentially bet on those 3 seconds and assume that risk from the banks (win some lose some).
No idea if they launch a new USD pegged currency. Can’t opine there.
Iprofit have you even realized any gains yet you were bragging about your 6 figure profit and not having to pay taxes earlier
Dude, do you not read? I’ve mentioned my time horizon many times on here. Have held XRP for barely 3 months. Think my 300 percent plus return during that time is doing quite alright.
not sure what exactly he was holding, didnt really wanna talk about it haha
the best crypto out there is this one. link below:
Don’t get cocky because you got lucky on one thing once. You have to make a series of good decisions while constantly questioning your own objectivity.
Who is to say that I don’t realize or do this? This post started with me asking if anyone had any possible deeper knowledge about XRP and or Ripple because I was surprised by the dramatic increase in value in such a short period of time. And while people have provided some good insight, it’s mostly been people hating on ripple and XRP, generally. That’s okay though, it’s whatever. I have my view and everyone else can have theirs also.
our “hating on ripple” is our deeper knowledge. a volatile currency doesn’t work for bank transactions. even if it is only outstanding for 3 seconds. are you telling me they’re going to convert every speck of xrp after every transaction back to local currency. what a reporting nightmare.
It’s only volatile now, and it’s not a currency. It’s a digital asset with a real world use case. But yes, that is the idea. Bank A in Nigeria: Local Fiat to XRP sends XRP to Bank B in Poland and then Bank B converts XRP back to Local Fiat.
You can think it won’t work for whatever reason, regulation, volatility, etc., but that’s fine. I think they are gonna absolutely crush the likes of JPM, Citi, BNY Mellon etc who are charging middle market and small market banks outrageous fees through a slow outdated system.
Dream on iprofit. Lock in that 28k profit now net of taxes
Lot more than that buddy, I’ll pass.
you realize the corporate banks effectively own the federal reserve system and the federal reserve regulates banks? why would corporate banks undercut themselves ever when they effectively set regulation for themselves? JPM et al adopts most efficient system which is likely blockchain without everyone exchanging a volatile currency or asset or whatever, JPM et al adds fees on top of this system. JPM et al wins as always because they are mandated to win. JP was not playing around when he created the FRS.
Yes, and the team and Ripple knows this also. JPM and other big banks are years behind Ripple in terms of creating their own blockchain. Sure they might one day, but not anytime soon. The fed reserve isn’t going to stop mid-market, smaller banks from letting them do business with Ripple either and even if they do, domestic banks here in the US are a fraction of the international banking community ie Ripple is currently working with the People’s Bank of China on using XCurrent. Sure it isn’t XRP at the moment, but it’s crawl, walk, run.
i still don’t think you get it. ripple is possibly the future. xrp is a pos and is doa. i can see that you’re struggling with cognitive dissonance when you try to justify xrp as an investment. your best case scenario is xrp being pegged to a basket of global currencies at a valuation above your purchase price. base case is xrp is not used and a new bank-sponsored utility coin is used. there is too much risk for any bank to send and receive thousands/millions of transactions per day in an asset that can go up or down 20% in a day.
It won’t be pegged to anything because it’s not a currency. No goods are purchased with it. A bank sponsored utility coin will never come out either. That would not be democratic enough. Banks do not trust one another and no bank, for example Wells Fargo would accept payment in JPM-Coin, for instance.
I’ve outlined that XRP takes 3 seconds to settle thus reducing that daily volatility dramatically and that their are companies who are interested in taking on that risk as a third party for banks anyway but you aren’t buyin it which is OK.