Topic: [XRP] Ripple announcing lock-up next month (june) - Shoot to stars - page 8. (Read 53542 times)

XRP Been allways intresting in bitcoin world and we all knew in 2016 about SBI news and where its been heading.. Nothing new, I allways knew its one of the best long term investments out there but it could take years to get profits. It just started major pump now in 2017 and it became alot more known and marketed past last year. This is intresting, lets see where this goes now with this insanity . It can go to 1 dollar or it can go back down aswell.. remember that this is not natural grow and controlled by big players.

@f0rmdeep,

The txids you provided belong to accounts (excluding Reise bank) that have been activated by Ripple Employees. These accounts show activity ~9 months to a year, that indicates a testing of sorts, and not day-to-day use.

For example, NBAD that is reportedly 'live' since January, does not report any txs, nor issuing wallets. There is no transactions in recent ledgers in NBAD related IOUs.
Could you provide a txid for a recent NBAD transaction?

Until we have a press-release by a bank, that says "Yo, we integrate Ripple. Here's our wallet addresses and IOUs (as per Ripple's gateway guidelines)", you may only guess that the entities transacting behind these wallets that match a market/asset of a suspected FI do indeed belong to a said FI.

Also, where did you get the info about SBI VC implementation specifics?

I agree, especially love this (totally worth your 5 minutes ) : https://www.youtube.com/watch?v=vsEVF4LV_gI&t=16s

and this :  ( Subtitles are in English, make sure to turn Subtitles on - this is Big - thank me later ) https://www.youtube.com/watch?v=otERf5Nn9e8

I agree with @wingfr. The destroyed XRP is very minimal, the more important point is that "more XRP cannot be created/mined ever". and as @wingfr mentioned, due to lost password, ( and also many more legitimate reasons like escrow and timelocking ) many XRP gets sequestered.

So without a doubt it is deflationary - for the simple fact that supply cannot increase. Infact this is also the original reason why so many traditional bitcoin houses hated it. because they could not mine it/control it/ corner the markets like chinese-miners issue etc.. and cannot make big money.

this is the true reason why so much misinformation campaign is running against ripple in my humble opinion.

This article : https://twitter.com/Ripple/status/859528573912104960 is particularly brilliant and i really recommend you @Robben123.  It will answer a lot of your doubts with very good fundamentals.

Good luck.

XRP spent as transaction fees are destroyed. The default transaction fee is currently 10 drops (=0.00001 XRP). There should be enough XRP to last for thousands of years despite this destruction. If the value of XRP changes, the transaction fee can be adjusted by the consensus of the network.

The rate of loss of XRP due to losing passwords is thousands of times more significant compared to the amount lost as transaction fees.

Because XRP are divisible, even if only 1 XRP remained, it could be divided up among the users of the network and be enough for the whole world to use.

Sources : https://ripple.com/build/transaction-cost/
and https://wiki.ripple.com/Ripple_credits

I dont understand this fact about Ripple. Are there any official statistics? How many XRP are being destroyed per transaction? What if all XRP are getting destroyed? Can they "produce" new XRP? How many years it would take until all XRP are destroyed?

thanks ! that paper is really informative.

incase some missed it heres another feature that is awesome...

&
http://www.businesswire.com/news/home/20170424006427/en/BlockChain-U.S.-Financial-Institutions-Reality-eZforex.com-Ripple  = huge
http://economictimes.indiatimes.com/news/industry/banking/finance/banking/google-backed-payment-company-ripple-in-talks-with-npci-banks-for-account-to-account-transfers-globally/articleshow/58393329.cms      = huge

Oh you are most welcome. and Yep, from the little i have understood, you surely got it right !

IOV is still ahead of its time, and people are catching on. I once heard Chris Larsen somewhat speak on these lines.



now that's really being way ahead of his time. Still people are catching on to this. first time i realized what he was actually speaking about, it gave me goosebumps. the very simplest of usecase is simply giving xrp to banks as they need it dynamically ( happens automatically, especially useful for micro payments worldwide  )

example from ripplefox

:

and example of  bank transactions that can use "injection", especially for micro-payments where fees exceeds amount to be transferred (usually anything below 48 US Dollars approximately for most countries)

Fidor Germany ->Snapswap UK transaction -> https://charts.ripple.com/#/transactions/4F88B09740DC70A8CA7658ADD183903D47BC1A503273A9899BB216AA229BDA11
ATB Canada -> ReiseBank Germany Transaction -> https://charts.ripple.com/#/transactions/C48EF02E1ECA569E08F31F81EA356BBA7790E1CD2F8EDFB9EF2BD4C80197BB93
NBAD Dubai OMR/OMAN issuing account and related transactions Overall summary ->
https://charts.ripple.com/#/graph/rBZXeehEonjsJUbKMHuKAYuN8zw5gA8JXk

one such OMR/OMAN transaction : https://charts.ripple.com/#/transactions/EC0512583F5B4AB78400DD613DD59D7475DF85CCD3E098690BA80ABFD4AC0965

EGP central banks approved accounts and some transactions -> https://charts.ripple.com/#/graph/rBZXeehEonjsJUbKMHuKAYuN8zw5gA8JXk Ex : https://charts.ripple.com/#/transactions/4D4137F4CC3F66E5D3A09A0DDCE1E37F5A619C0BB55AC2FD4F9EDC7E17905B63


I am sure there are many many more, same like us, banks also like their privacy, so i think they are not going to go publish each and every transaction they do. But, after SBI completes the XRP trials this august they are running with 50+ Banks, we will have like a million transactions to go through :-) (found a translated link here: https://twitter.com/Chan_Maddanna/status/857400519429697541)

Best of luck, laters.. !

Thank you for your reply, f0rmdeep. I'm grateful you make posts with content to make sure everyone is aware of why this is a good investment instead of using cheap pump-/moontalk. So if I understand this correctly the Ripple we are buying is meant to be used for ourselves if we want to do transactions? Instead of selling it to banks or whatever. So even though the price for a Ripple gets pretty high now and Ripple gets burned for every transaction, the amount of Ripple burned is just 0.00001 or something, so at current prices the transaction fee is only 0.0000009 euros? Which is nothing. And this is why the price can still go a LOT higher without it being plain stupid. Do I understand everything correctly? I haven't had the time to properly research this coin even though I invested a lot (initally just to join the pump but now I deciding if I'll be a holder) so feel free to correct me where my understanding of this coin is wrong. I think it's important for me to know what I bought if I want to keep it longterm.

Hey you are right, but I am glad you are right. I also felt the same way in the beginning, let me bring you up to speed on how it works...

So, Basically Ripple sells banks , market makers and many other institutional customers, through a bit-licensed and registered unit called XRPII . The jurisdiction is NewYork ( bit-license in NewYork is allows international operations - some what like IMF )

Surely their customers like banks get a better deal, BUT ALSO buy under "different" terms and conditions :-). that's the trick. Ripple is very smart. Mostly the OTC sale agreement bans market manipulation, makes them hold XRP reserves and limit use for actual liquidity need etc and not trading.

Which means , institutional reserves make it very stable. And also dont forget, selling XRP for real usecases like banks and trading organizations ( ex: CME ) is one of the revenue sources for ripple.  Its like you grow apples and your regular and market customers get discount- but still you can't sell them for senseless values, but also you will make sure customers get to know the superior taste of your apples by strict guidelines on how to use/store and sale it.


The 2017 first quarter market report is very impressive. looks like many banks want to make sure to have enough XRP reserves, at-least something enough to start their use-cases. here's the link : https://ripple.com/insights/q1-2017-xrp-markets-report/

Their management and strategy teams are bloody sharp honestly - i got to admit and now they even have SWIFT Business VP with them (http://www.financemagnates.com/executives/moves/ripple-poaches-marjan-delatinne-swift-spearhead-european-sales/)... Man ! think about it for a moment... Business And marketing Head- VP of their competitions comes and joins them ! ... way ahead of the game.

hope it helps. thanks.

The thing I'm wondering though is how much do the banks pay for a Ripple? We are pumping on our exchanges but who says the banks aren't buying it much cheaper from Ripple itself, I doubt the banks go on Kraken or Poloniex for their stash

Not much, from what i have heard, its big deal, and supposed to be announced and open for business for existing customers August 2nd Week ?

Its a VERY BIG deal, because SBI will be the first "National Banking Organization" to run a virtual currency exchange, and XRP is at the center of everything. Infact even JPY, USD and BTC will be represented by XRP iou on the platform, including their own SBI inhouse coin as well.

All in all, after this year, Ripple will be new Google equivalent of 21st century in financial world. People who missed the boat are gonna cry for an opportunity of a lifetime missed, and many new multimillionaires made. I have less, but i am total strong and long on xrp.

Btw if you know more than this , please share.

do you know about SBI VC  this summer m8?

There is no doubt that this would be a segwit-level event for XRP. I would say 1 dollar instantly after the announcement and even more in the future.
I don't like the corporative features of the coin, but right now it can be a great buy, no doubt about it.