40 Comments

  1. best video about XRP so far. All are facts until now even, when this video is 1,5 years old. Institutions that say are using xrapid are only small banks. No one can say with certainty who is using XRP of Xrapid. only say that someone said that they are using it. But we can say is that Ripple is using the money of sales of XRP for funding.

  2. Everybody says XRP is a bankers coin but every time a banker goes on CNBC or Bloomberg all they do is shill BTC or ETH. 376 people own 1/3 of all Ethereum. Around 1000 people own about 40% of all BTC. Since the first real use case for BTC was to sell drugs on the darknet it wouldn't shock me if the " Bitcoin whales" are cartels and mafias. 74% of the BTC mining network is in China and over half of the network is controlled by 3 Chinese companies. I am sorry to say but most cryptocurrencies are even more centralized than fiat. I don't think most people even care. Coinbase now has a Visa card so you can spend your bitcoin at stores. Does that sound like decentralization? Does that sound like "be your own bank"?

    https://www.bloomberg.com/news/articles/2019-05-15/just-376-people-found-to-own-a-third-of-all-ether-cryptocurrency
    https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market
    chrome-extension://oemmndcbldboiebfnladdacbdfmadadm/https://arxiv.org/pdf/1810.02466.pdf

  3. "Banks may use ripple but they wont use xrp". 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). Sure, 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 XRP may seem irrelevant to their existing infrastructure, it will be profoundly easy to start using XRP if they get curious. Said another way, xCurrent and xRapid are not mutually exclusive, they are sequential adoptions. No bank will jump right into XRP, and a bank's choice to use xCurrent is NOT their decision to NOT use xRapid, it just means xRapid will remain an option for when the bank is ready to trial XRP.

    Why would a bank 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 (MoneyGram? Western Union?)

    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 trillions upon trillions of dollars (27T) 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.

    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, the intent is that 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.

    LP's are coming, as well as custodial services (think gigantic safes for crypto). These building blocks of massive money management will complete the picture that banks require to start dabbling in XRP. The FUD around banks possibly not ever using XRP just has to stop, it's really getting old.?

  4. XRP is going to be used to settle derivatives by banks. Period! This video is complete and utter nonsense – the amount of volume this one thing will generate will cause the price to not moon, but reach Saturn like levels.

    No other coin to date can achieve this derivatives holy grail utility. Institutions will ensure XRP is the coin used for this derivatives settlement. Once XRP is choosen to be used for this function, it will hold a forever monopoly for doing so.

    It's about use-case and utility, stupid… Not nostalgia! Nostalgia has extremely low real world use case and value.

    XRP essentially solves the instant settlement problem for banks moving money around the world. The lack of depth in this video is laughable.

    Another retail amatuer!

  5. Start good, rest crap. There is no way how to create another XRP. There is only 100 B XRP (actually even less right now) and that burning process is just storing XRP fee to a cold storage w/o private key, thats why everyone thinks they are burned. They are still here but no one has access to them. And first you are saying that XRP is a bridge asset and next you are saying that it brings nothing new to the table. Like for real ?! Bridge asset which can solve issues also for other cryptocurrencies. E.g. that you can buy with BTC even a coffee in some small town if they are connected to interledger and use XRP as a middle asset in that transaction. Call me stupid but I think this is huge thing and guess what it should take 3- 5 sec.

  6. Technically you can play the game since you can create your own token/currency on Ripple Gateways (Including Decentralized exchanges) and has fast transactions, though the token economics aren't great as you're pointing in this video

  7. all the thumbs down and this guy is exactly right. These noob investors need to get education on these crypto currencies. A lot will end up broke. I warned so many people that banks will not use xrp token…

  8. It's not a huge misunderstanding the difference, Ripple is agressively trying to educate people on this, First you get them to use xcurrent, and get them to use the software, Xrapid, which is actual the utility of xrp comes into play next. This 1rst quarter has shown the huge success of xrapid coming into play such as big names like Western Union piloting the program and institutions now going live like Cualix. Ripple is the only crypto that has real customers, and realy utility out of all the cryptos out there, and will be one of the few that survive this bubble. The Ripplenet is actually becoming more decentralized everyday, another misconception, of unleducated investors. I'm all in on XRP. Educate yourself folks

  9. Well, you're probably making this video on a computer (Dell, Apple, etc), also perhaps you are using a smartphone (Samsung, Iphone, etc) Does it bother you that these companies are also super rich and own their majority of share within their own company ? You don't seem to mind using their tools though ..

    You probably also use money every day, how does that not help the banks? Shouldn't you not be using money if you wanted to bring banks down?

  10. The whole point of Ripple owning 60% is to sell/give to banks wanting to utilise xRapid? If that 60% was in the free market/on exchanges how could banks buy massive amounts to have the liquidity for transfers? You really think banks would want to buy billions from sketchy exchanges.. Ripple can sell/give it to banks trialing the software and architecture at a discount. Keep holding onto the pipe dream that bitcoin/ nano or any coin that wants to become just currency will ever reach full real world adoption.

  11. I suggest you do a video on stable coins, how they are created out of nothing and if you can buy bitcoin with them, then……?
    Another of how the unregulated crypto ecosystem could not be regulated” and withuot regukation , then no real life connection.
    And another , how creating other coins , really is like printing new bitcoins because their prices are almost peg to btc as we have seen.

  12. Ripple makes banking better. XRP is bullshit. Either way both ripple and XRP are dead ends. The founders are making out like kings while the public will be holding the bag. Bankers and their buddies want you to play by their rules. Don't. You are not a bunch of sheep.

  13. Thanks for sharing. I agree 100%. I also think that the real war rn is happening in the minds of the people. I feel like true cryptocurrencies have already lost since the media maintains the control of information and tells the populace Ripple is good and Bitcoin is bad.

  14. 60% of XRP owned by Ripple —- 85% of BTC owned by 5% of wallets

    Ripple is centralised working to be decentralised —- Bitcoin was decentralised now 65% is mined in China (more centralised than ripple at the moment what an irony)

    3-4 second transition and cost of 10 drops ($0.0001) because it is premine and doesn't use PoW —- 4hour transition and the cost of transition average is $10 because of PoW plus PoW is using more energy than its needed to run the blockchain (what a waste)

    20xrp wallet activation works as anti spam mechanism (which can be change any time)—– while bitcoin experiences lags on the blockchain because there is nothing to spam the network with millions of transactions 

    And sure XRP isn't cryptocurrency but more of crypto asset but so as BTC xD do more research before you talk $hit xD

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