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ALT Coin discussion

Discussion in 'Blockchain & Cryptocurrency Mining' started by Gunna, Oct 10, 2017.

  1. papillon

    papillon Member

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    True, but it's in Escrow to be released for sale to FI's, 1b a month as needed with unsold coins going back into new Escrow automatically.'

    Only if you don't understand the point of it all. With xCurrent banks only get to use the ledger and still have to maintain vostro/nostro (ie. fiat) accounts on each end ie. trillions of dollars sitting in bank accounts all over the place just so that funds can be transferred. This is slow, expensive and inefficient.

    XRP provides that liquidity, removes the need for nostro accounts which frees up FI's funds and reduces their transfer fees by up to 90%. And provides instant SETTLEMENT vs several days when using fiat. Pretty crappy deal if you're a bank! Or maybe not?

    And xRappid (XRP) is the one they're testing this month with 40 different banks in Japan and Korea. And Cualix is already using it for Mexico <-> USA settlements.
     
  2. ksyap

    ksyap Member

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    Nope unfortunately not. Too many other coins moving at the moment haha. I'm totally gutted selling my TRX now :( ....thought I was taking in profits... NFI what would push it 600%... Like WTF.
     
  3. ksyap

    ksyap Member

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    I'm curious...Can this be done with another "coin" that's derived from a set value? What about a separate coin with a pegged value (let's say Ripple create a similar coin like Tether just for banking utility - not open to public).

    Why use XRP if it's price continues to fluctuate 20-30% in a day? What drives price and movement? Currently the public are buying up XRP like crazy people.... but as a utility coin for the public...what is XRP useful for (to the public)?

    Those are my main concerns with the longevity of XRP's current price. At some point Ripple will want to stabilise the price..

    That doesn't mean I'm not going to continue to be happy at XRPs current push :p still making money hahahaha.
     
  4. papillon

    papillon Member

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    Look I'm not gonna pretend to understand every possible scenario, but the way I understand it

    1) XRP *is* that coin. It derives the liquidity from its value. I suspect if they wanted to (but I cant be sure of this) they could create ANOTHER coin like Tether, but that would basically kill all the trust in them and they'd go from being valued at $xB to 0 in no time.

    2) I remember reading Schwartz saying that they want it to go up ... that's good as it provides liquidity. They don't want it to come crashing down too quickly thouigh as that obviously removes liquidity. But I suspect once it reaches a certain value it will automatically become more stable.

    3) Use to public .. well Ripple is the one that concentrate on FIs. They're encouraging others to use the ledger for anything else they can think of. It can pretty much do anything almost any other existing ledger can, but faster. It even has smart contracts built in (bbut not as powerful as ETH).

    my 2xrp
     
  5. Strik3r

    Strik3r Member

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    2xrp ? Thats nearly $8 worth of info!

    Through a bunch of poor choices, when everybody else is up 2x or 3x, i am now down 10% in the past week - got back in to XRP at quite close to the ATH, but I think I am going to resist the urge to get out, not even look at the price and just reassess in a month or so.
     
  6. ksyap

    ksyap Member

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    Yeh I feel Ripple will want XRPs price stabilised at some point if they want to convince FIs to utilise it. But yeh...at the moment public utility is questionable to me.

    I think I've mentioned this before... Too many people out there think they are investors....they think by buying XRP they are "investing" in Ripple. They call themselves investors...not realising that they are consumers not investors. :p
     
  7. Glitchlol

    Glitchlol Member

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    http://www.forexlive.com/news/!/cry...he-worlds-10th-most-valuable-company-20180104

    What to make of that last line? Seems very bubble like.
     
  8. papillon

    papillon Member

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    It's a silly metric

    Only a small % of XRP will ever be available for trading by speculators afaik. Rest held by FIs who can't sell them to public nor would they want to.

    The higher the XRP the higher the liquidity for the network, it doesn't translate to 'company worth' at all

    And you can't include coins now in that liquidity when they won't be available for up to 5 years.
     
    Last edited: Jan 5, 2018
  9. dexx

    dexx Member

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    Any thoughts on the future of FUN, DGB, CAPP, and FLASH?
     
  10. koss

    koss Member

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    Like most Ripple stories it's full of half truths.
    Here is a summary of XRP.
    https://www.sovereignman.com/investing/read-this-before-doubling-down-on-ripple-22808/
    https://www.zerohedge.com/news/2018-01-04/anatomy-crypto-nightmare-ripple-ceo-now-richer-zuckerberg

    People can't get through their heads that the value of XRP is independent of the deals Ripple Inc. strike up.

    Almost all the demand for XRP is the speculative bubble, not the Ripple network functioning, as soon as people wake up to this fact, XRP will tank.

    If I put my tinfoil hat on, one could think that the media pump on XRP was to get people to used this semi-centralized token instead of decentralized BTC/ETH/LTC so governments and banks could maintain surveillance, hence control of crypto users.
     
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  11. papillon

    papillon Member

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    Tall poppy syndrome in full effect
     
  12. elcarter1

    elcarter1 Member

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    I wish QSP would get a hurry on so I can check out and into some more ADA.
     
    ksyap likes this.
  13. AstinGC90

    AstinGC90 Member

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    I too sold on what I thought was a ATH, I bought in at 3 cents, sold at 9 and bought back at 6, I then panicked on a dip and sold at 5 lol :-( Massive mistake and a leason I've only had to learn once to have it stick. NEVER SELL ANYTHING FOR A LOSS haha.
     
  14. ksyap

    ksyap Member

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    So what exactly determines the worth of XRP? If FIs held those coins only for themselves and not for transactions with the public...what would they value it as?

    I can understand the point of the public holding/trading coins in a decentralised system for the purpose of "taking back the power" from the banks....so coins that will depend on public/non-institutional power to run.

    In saying that...XRP to the MOOON (cause I wanna cash out and actually buy a coin that's going to be worth holding for use :p)
     
  15. ksyap

    ksyap Member

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    Haha I never sold for a loss as I sold off what I bought in batches. I got in at $0.004 tough so everything was still massive profits..... Just... Far out 500% in 2 days? FARRRK.
     
  16. Optimus.

    Optimus. Member

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    TRX dipping now but it's really being arrested by small buys. Interesting to watch.

    dexx, DGB is interesting, I think it'll move soon.
     
  17. papillon

    papillon Member

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    https://www.quora.com/profile/David-Schwartz-9

    https://twitter.com/JoelKatz/with_replies

    You can find answers to most of these questions on either one of those, he's pretty much the architect. He answers a lot of questions but also clears up a lot of FUD

    Truth be told, in the end only one thing matters to me and that is the aud I will get out of this whole venture. Could not care less about how well Ripple or crypto in general does once I'm out..
     
  18. AstinGC90

    AstinGC90 Member

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    God damnit Ethereum, why $1500 today lol
     
  19. papillon

    papillon Member

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    Honestly these crappy useless coins like SC and DGB that cost pennies are the ones to make serious money on ... yes sometimes they will sit there doing nothing for a week or 2 but then just go up 50-100% up in a day for no apparent reason
     
  20. ksyap

    ksyap Member

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    I'm considering buying back in but everytime I look at the charts I take a step back.... don't want FOMO getting the best of me... Never seems smart to buy in on a massive run like this... Probably need to wait till it stabilises then jump in for the next pump....who knows when that will be.
     
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