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The Ripple Thread

Speculator

Morning all

I thought I'd set up a thread for Ripple, considering it's in the top 5 based on market cap.

Ripple CNBC News.

https://www.cnbc.com/2017/11/17/ripple-ceo-brad-garlinghouse-on-working-in-the-cryptocurrency-and-blockchain-space.html

https://www.cnbc.com/2017/11/16/american-express-santander-team-up-with-ripple-on-blockchain-platform.html

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millhouse

Will the decision that ripple is a security totally destroy the price. Is it a guaranteed ? Or can there be positives taken from it if it is a security.

grindle

millhouse wrote: »

Will the decision that ripple is a security totally destroy the price. Is it a guaranteed ? Or can there be positives taken from it if it is a security.

There are long term positives but it will get hammered when the locked up coins flood the market. If that happens it'll be like the Mt.Gox trustee selling off BTC times 100.

Longer term - it'll be a widely traded security with extremely fast remittance times and a hugely decentralised userbase if the coins aren't just sold to billionaires OTC, so at least they'll have managed to decentralise something.

Bob24

What exactly does it mean to call it a security?

Would it being flagged as a security involve that someone holding XRP the crypto currency has some sort of financial interest in Ripple the company? And in which case could the long term success of the company get the crypto currency value to increase even though XRP is not used in the business model anymore?

(Sorry if those are silly questions, I struggle to see exactly what “security” involves, but my non financial and simple logic makes memthing that if you call something “security” it means it is securing something else for you)

grindle

Bob24 wrote: »

What exactly does it mean to call it a security?

Would it being flagged as a security involve that someone holding XRP the crypto currency has some sort of financial interest in Ripple the company? And in which case could the long term success of the company get the crypto currency value to increase even though XRP is not used in the business model anymore?

(Sorry if those are silly questions, I struggle to see exactly what “security” involves, but my non financial and simple logic makes memthing that if you call something “security” it means it is securing something else for you)

Securities have a profit motive behind them. ETH's initial offering would have been seen as a security-offering if the SEC were clued in at the time. Most of the founders have sold most of their stash (bar Lubin) to such an extent that they don't and can't dominate the market for ETH. With ETH being as decentralised monetarily as it is and broadly working via community consensus it means there's no central authority. Some might think Vitalik is a central authority but if he screwed up enough (and some think he has) ETH would be forked (heyo ETC!) and the project continued along a differing path.

Having a centralised authority (Ripple) that's selling off the largest portion of XRP for it's own gain every month should be enough to qualify it as a security. If Ripple screw up there's no community consensus mechanism to protect the project, no fork that will fix the mayhem. Having a fork is already tantamount to mayhem, lacking a decentralised community of devs and walletholders would be severely detrimental. :pac:

XRP could and would still be used in their business model, but whether or not the price crashes near-term is dependent on how the SEC wants the coins to be released. If it continues to be released as present, not too much of a big deal - but if it gets dumped across the markets it'll be like a Dutch auction for institutional investors where we start at current price and work our way down until all of them are bought. It'll give a pretty good valuation of Ripple as a company but hodlers aren't going to like it and they'll panic even though the price will to my eyes likely move up in future.

Truckermal

Have you heard of any dates for the SEC to decide?

grindle

Nah, loads of humming and hawing going on I'd say. There'll be lawyers on both sides making their best attempts to sway opinion, the SEC has to get to grips with all possible eventualities of their decision either way and decide what's least harmful. I don't envy their decision. If anybody's holding since XRP was being shilled in daily tabloids then they're going to have a lot of people píssed off that they spent $3 on something which could (if there's a dearth of liquidity in bids) end up trading sub-cent. They'll probably want to avoid that bloodbath.

If it is considered a security I still think there'll be enough interest to keep the cap in the billion/multi-billion range but that still leaves room for another 80+% drop. It'll be interesting to see it play out. Much more interesting to watch as a drama than the ETH or BTC decisions were.

DANNY2014

Bill Clinton announced as keynote speaker at swell 2018...

https://ripple.com/insights/president-bill-clinton-keynotes-swell-2018/

Bob24

XRP is pretty much the only major coin reporting as green this morning. Hadn’t happened in a while!

endainoz

Nothing wrong thread, will delete

pnecilcaser

The price of ripple has really dropped. You think it will find a floor in the next few days?

noel100

I have a ton of XRP and hopping it will drop to 20c range so I can double up

el diablo

noel100 wrote: »

I have a ton of XRP and hopping it will drop to 20c range so I can double up

You'll get your wish in the coming week when BTC drops below $5k and the alts will follow.

Dohnjoe

Same, waiting for Ripple to hit around the 20c zone. Although I do have a feeling that Stellar is becoming as attractive as XRP, if not more so

makeorbrake

Dohnjoe wrote: »

Although I do have a feeling that Stellar is becoming as attractive as XRP, if not more so

Which of them is likely to win out seeing as they both seem to have the same utility?.....or is there room in the marketplace for both where there isn't a major difference in the offering? I understand that stellar is decentralised but unfortunately many don't seem to care about decentralisation.

One of the things that concerned me about XRP is that as it's centralised, what's to stop that central authority from issuing a shed load more tokens?

el diablo

makeorbrake wrote: »

Which of them is likely to win out seeing as they both seem to have the same utility?.....or is there room in the marketplace for both where there isn't a major difference in the offering? I understand that stellar is decentralised but unfortunately many don't seem to care about decentralisation.

One of the things that concerned me about XRP is that as it's centralised, what's to stop that central authority from issuing a shed load more tokens?

Nothing. I don't think there'll ever be an cap on the total supply of XRP tokens. I personally much prefer the XLM project.

makeorbrake

el diablo wrote: »

Nothing. I don't think there'll ever be an cap on the total supply of XRP tokens. I personally much prefer the XLM project.

Ok, so what I understood back then was correct in your opinion? i.e. it would be foolish to put money in XRP as you don't know from one minute to the next if they're going to pull the carpet out from under you?

noel100

There is a cap on total tokens 100billion
55billion in escrow
5billion for running the company
40billion in circulation
20billion of XRP held by Staff.
Ripple sitting on 20-25billion in cash
And so far there has been a burn rate of XRP of about 8-9million this is before XRAPID is up and running which I expect the burn rate to increase.
Hedge fund owner Arlington sent $50million through XRAPID it took 3 seconds to arrive into his account from one side of the world to the other with a currency exchange done cost $0.30c worth of XRP which is burned.

millhouse

Another legal case thrown out of the US courts.
Went back for more at â‚¬0.22c. Onwards and upwards for Xrp , fingers crossed !

will56

millhouse wrote: »

Another legal case thrown out of the US courts.
Went back for more at €0.22c. Onwards and upwards for Xrp , fingers crossed !

What case was that ?

Truckermal

will56 wrote: »

What case was that ?

The one where some guy who bought high then tried to sue them for his loss I think..

makeorbrake

noel100 wrote: »

There is a cap on total tokens 100billion
55billion in escrow
5billion for running the company
40billion in circulation
20billion of XRP held by Staff.
Ripple sitting on 20-25billion in cash
And so far there has been a burn rate of XRP of about 8-9million this is before XRAPID is up and running which I expect the burn rate to increase.
Hedge fund owner Arlington sent $50million through XRAPID it took 3 seconds to arrive into his account from one side of the world to the other with a currency exchange done cost $0.30c worth of XRP which is burned.

My head has been turned by Ripple - don't get me wrong. I don't want to have anything to do with coins that are not showing signs of real world usage and Ripple certainly lead the way in this respect.
On the cap though, it's a private entity so they could do what they want surely ? Are we saying that they simply wouldn't - that it would probably have major repercussions for them if they pulled something like that?

Truckermal wrote: »

The one where some guy who bought high then tried to sue them for his loss I think..

That's just ridiculous. These markets are for grown ups - you take your chances or not as the case may be...but it's personal choice and personal responsibility.

noel100

The guy bought high spent $1600 on XRP and sold for $1100 lost $560 aprox. Brought a case against ripple accusing that XRP was a security. Case was dismissed in the calfornia court and ripple now want it pursued in Federal court. There have been some fantastic valuations on XRP in a real world case scenarios. Anywhere from $334 to over a $1000 in the next several years.

benjamin d

noel100 wrote: »

The guy bought high spent $1600 on XRP and sold for $1100 lost $560 aprox. Brought a case against ripple accusing that XRP was a security. Case was dismissed in the calfornia court and ripple now want it pursued in Federal court. There have been some fantastic valuations on XRP in a real world case scenarios. Anywhere from $334 to over a $1000 in the next several years.

There are 100 billion XRP, not in the wildest of crazy dreams will it ever be worth 3 figures each, never mind a grand! I wish!

Have I calculated right that that's a 1 quadrillion dollar market cap?

The only way I can see that happen is if crypto genuinely replaces fiat and the dollar's value plummets to worthlessness. Quite unlikely!

noel100

Well I know there is a 100billion XRP
55billion in. Escrow
40billion in circulation
5billion in an account for day to day running
Cobalt going to be released 50-80k transactions per second
Cobalt will be able to replace clearing Houses for shares
Can do bonds, treasuries, forex, as well.
So when you have a liquidity pool XRP that potentially can have trillions of currencies going through it what valuation would you put on it.

leduigs

Xrapid on the way some good movements last 3 days!

makeorbrake

leduigs wrote: »

Xrapid on the way some good movements last 3 days!

xRapid is an excellent development but strange there should be such a lift in the space of a couple of days on the basis that they say it will be launched next month. Surely these things should be priced in already...

leduigs

makeorbrake wrote: »

xRapid is an excellent development but strange there should be such a lift in the space of a couple of days on the basis that they say it will be launched next month. Surely these things should be priced in already...

Yea, I dunno it seems to be dragging up the whole market too. 2 billion added overall in last couple of days.

I suppose its the fact that its closer people are getting excited...no doubt when it comes out there'll be another crash but might be a chance to recoup some of the original gains experienced.

Bob24

If that’s true it would be a very interesting development. But TBH I’d be very cautious about this. Talk is cheap and an executive showing optimism about their company’s product is not surprising and in no way a commitment.

TLDR: hopefully it’s true, but I’ll believe it when I see it.

noel100

There has been a lot of good news last several months and the price just kept going down. Ripple signed up over a 120 production contracts. 2 new contracts a week. 3 preferred exchanges for Xrapid and 106 exchanges world wide. Xrapid going live next month. Caulifax, mercury fx, SBI ripple, coins pH, and others are going to use XRP in Xrapid and other banks will be added to XRapid and XRP as it scales.

el diablo

Up 34% in a day. I don't really follow what's going on with this centralized bankster token so I've no idea what caused this jump. I think I've been holding some XRP somewhere for over 18 months but I can't quite remember where I left it.