So Santander, the 18th largest bank in the world is rolling out a Ripple powered (Xcurrent) mobile app in Q1 with apple pay in four countries providing cross boarder settlements in 40 seconds at 30% less cost to 14M consumers. This isn’t a trial, this is actual adoption happening now, not years down the track.

So what are the other banks using technology that takes 3+ days at greater cost thinking? They are paying attention.

XRP is not currently being used but at what point does taking that 40second transaction and turning it into a 5 second transaction at a further reduction of cost become further market advantage?

What takes 3 days now ?

Plenty of examples of international transfers taking that long, I recently sent one from Aus to NZ.

What is doing instant payments now and at what cost?

Does the Santander app have an FX component ? All ripple are doing is replacing Swift messaging within the instruction chain.

Sorry, posted before finishing.

If all Ripple was doing is what you state, why would swift not adapt there systems negating ripples need to be used?

Sorry, posted before finishing.

If all Ripple was doing is what you state, why would swift not adapt there systems negating ripples need to be used?

https://ripple.com/solutions/source-liquidity/

For this to happen XRP would have to be very very stable in price. It also means banks would have to own XRP in varying amounts and that would need regulatory approval and interesting approaches to the valuation of XRP.

Yes, XRP is released from escrow systematically for this purpose, Jan 1 Billion was released and 90 Million returned.



I'm not doubting the tech, swift will be vulnerable etc. But even Ripples success doesn't mean XRP has any value.

That is true but it will at the very least drive speculation in the short to mid term.

Ripple is going after the international cross currency transaction market. Specifically, instant transactions at virtually no cost using XRapid. Yes the volatility is an issue as is the perception of the crypto market. Ripple are trying to position themselves to be the one who bridges the two worlds eventually and they are doing a great job so far. Could xcurrent be as far as it goes leaving XRP worthless, yes however xrapid is in working trials now with FI's, successful reported trials. It is also just an upgrade to the existing xcurrent programs that will be in place already. That is not taking into account other applicable uses that may arise in the future.

A sure thing? No, but in the world of crypto I think it’s worth a punt. Banks will always be there, who will position themselves to work with them first with the technology?

How much have ripple spent ? Will there be competing services ?

Does,XRP have limited numbers like Bitcoin ? When you say "release" I'm assuming they're differant from mined coins.?

Unsure what has been spent.

Competing services as in other crypto players going after the same market? No one is remotely close to ripples level of development in that space.

Yes, 100 Billion. 39 in circulation and 55 in escrow. 1 billion is released from escrow each month for ripple to sell to institutional investors, it does not go to open market and goes back to escrow if unused.

I am across this to the degree that I have been doing bits a pieces of research over the last month on line and reading forums, I’m sure there are more knowledgeable posters on the subject. I hold XRP so look at through that lenses as well.

I'm looking for the issue that if it becomes a standard payment tech (like swift ) then the XRP has to become a standard price or worthless as banks and the payment system would be hostage to fortune.

Plus they'll have regulatory issues galore in he holding of an asset.

Are they selling any portion of x current with the coins ? Does the market think they'll make the coins central to the eventual tech ?

You know the issue lies with how the users of the tech (banks) value and hedge the volatility of the coins if they HAVE to hold them, they can't be subject to open exchange and be useful .

Basel.

100 billion is a huge number, BTC has 16.8m. The banks holding restricts total circulation which is needed. I have heard that a higher stable number would work best for the application. There is burn off so it is deflationary. Ripple Burn For every transaction on the ripple network the ledger deducts 10 drops as terms of ripple it is 0.00001 of a ripple. At this calculation that is for every 100,000 transactions 1 Ripple is burned

So burns not the issue. 100 billion USD to corner the banking exchange market would be interesting though.

My 7200 - 7500 may well be tested here.

I've done some sophisticated chart work. It's going down to $500.

The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.

Instinctively the damage has already been done. They've more than likely just realised that between the middle of Dec and mid Jan a couple of hundred thousand people maxed their credit card with BTC purchase. Maybe a couple of billion spent with their customers exposed to approx £1bn losses.

I think poor TranceNRG is one of them. The people encouraging others to invest in this recently are scum.

I've done some sophisticated chart work. It's going down to $500.

The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.

You don't think the pink sheets are gonna save the day then?

Good grief.

You are a complete clown.

It's a serious question? You seem to forget that I've been involved in cryptocurrencies for 6 years this year. I've been through several major crashes. The technology is here to stay.

The S&P is down 3.28% on the week. Bitcoin is down 33% , there's no risk comparison

Bitcoin and the more general cryptomarket have gone through numerous crashes, with each one joyously declared the death of Bitcoin by various nocoiners, and a subsequent all time high for BTC following that. Is there any reason in particular that this is going to be the crash to end all crashes?

Of course there is no risk comparison. It's about $1 trillion? 2 times the size of the entire crypto market? Anyway, regardless, everyone has been expecting this since the massive surge late November.

When would you say 60% losses had occurred 2013 ? Why did that happen ?

So you sold short ?

More like stopped short by Frank Costanza.

I think poor TranceNRG is one of them. The people encouraging others to invest in this recently are scum.

Nah I'm alright, I only spent about 2,3 grand on Bitcoins, Ethereum and Ripple. If they collapse it's not the end of the world for me as its only about 2% of my investments though I'd be annoyed naturally. And no I didn't bottow money to invest in Cryptos.
I do feel for loads of people who spent a lot more including a couple of my colleagues who have invested heavily in them.
Having said that I'm not sure this is the end of these coins. I'll just hold them and see what happens.