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General Discussion / Re: Protoshares on the cover of The Age of Cryptocurrency
« on: December 20, 2014, 05:14:01 pm »
Nice find!
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Ripple is a great technology, but could you explain what makes XRP currency valuable? As I understand, it's needed only for exchanging exotic pairs of currencies for which there is no direct market. Any reason for someone to have a large reserve of XRP other than speculation?
What would be a reasonable market cap for XRP in your opinion if Ripple protocol gets a wide adoption?Fidor bank transaction just hit Ripple ledger and funds were transferred from Germany to a US recipient.
https://xrptalk.org/topic/3781-fidor-bank-testing-the-auslands%C3%BCberweisung-%C3%BCber-ripple/page-4
Transaction details are here
http://ripplebot.com/4F88B09740DC70A8CA7658ADD183903D47BC1A503273A9899BB216AA229BDA11/
Gentlemen,
Today December 19th, 2014 is the birthday of the new global Monetary / Settlement system.
P.S. This is a calendar of upcoming Ripple events https://ripple.com/events/
This thing is going mainstream .... fast
I'd say BitUSD is a contract for difference but it is settled in BTS not in USD. Actually it is not really settled in BTS. Settling happens only virtually as the exchange rate of BTS and USD varies and BitUSD holders are exposed to the volatility of BTS but never get to own BTS since there is no expiration date.QuoteBitUSD as currency
The argument isn't is it a currency, which is clearly not. The argument is if it is a true CfD subject to CFTC regulation. Those that take place in facilitating the markets would be the people exposed to liability namely delegates.
I don't think you can actually argue that bitUSD is a CFD. It is not a contract between buyer and seller and there is no date of settlement. It is not a derivative but rather it is its own asset just like BTS or BTC.
If anything, viewed from the U.S., bitUSD can be called CFND = Contract For No Difference...
QuoteBitUSD as currency
The argument isn't is it a currency, which is clearly not. The argument is if it is a true CfD subject to CFTC regulation. Those that take place in facilitating the markets would be the people exposed to liability namely delegates.
I don't think you can actually argue that bitUSD is a CFD. It is not a contract between buyer and seller and there is no date of settlement. It is not a derivative but rather it is its own asset just like BTS or BTC.
However, it should be possible to defend that bitUSD isn't CFD-like in the US where the value is measured in USD.
Really? How?
QuoteBitUSD as currency
The argument isn't is it a currency, which is clearly not. The argument is if it is a true CfD subject to CFTC regulation. Those that take place in facilitating the markets would be the people exposed to liability namely delegates.
Great post.
"is is" small edit needed... "This debt is the money used around the world is is denominated in dollars, euros, yuan, etc."
QuoteOk, I misunderstood your answer. I thought you were saying swift only transferred $22M / day! So, what is the true daily volume?
I don't know that answer but still... even if it is trillions a swift message will cost you $20 irrespective of how much money you transfer..
The whole argument here is I am trying to compare "swift" as a company with "ripple" as a company (which obviously will provide a better and much cheaper service than swift in the future) and Bitshares company..
So if "swift" as a company is worth now $20 - $40 bil then "ripple" as a company worthing $2.5 bil is overvalued..
BTS as a company worth anything below $500 mil is way undervalued... Now which one of these have the most upside potential with the least risk? that is the question to be answered and i think the answer is obvious...
I think that's over complicating matters; to get a ballpark idea of the relative valuations, just using transaction volume alone will give you some idea. Then you can use the same metric to compare bitshares current valuation to what it would be if it replaced n% of the transaction volume of swift/ripple.
I don't think ripple XRP will replace Swift anytime soon, if ever. Swift is evolving and adapting, and the shareholders of Swift are the very institutions that use it. And if the value of replacing Swift with ripple ever grew large enough to make it worthwhile, institutions would just create their own fork rather than give up all the value.