Ripple: Destruction rate?

[Spekulatius]

Hi,

I read many times that for each transaction within the Ripple network some XRP are destroyed. Maybe this has been answered somewhere else, but I didnt find anything. So,

WHO'S Ripples are destroyed?

and

HOW MANY?

and

FOR WHAT?

thx

[slothbag]

I believe its 10 "drops" per transaction.. including setting trust and making offers etc..

So thats about 0.000010 XRP

[Spekulatius]

I believe its 10 "drops" per transaction.. including setting trust and making offers etc..

So thats about 0.000010 XRP

sauce?


Also, if Ripple becomes really popular, we may eventually run out of XRP. Is the destruction rate dynamic or at least does not require a hard fork?

[Bitobsessed]

With 100,000,000,000 Ripples and for each transaction 0.00001 XRP gets destroyed per transaction, there can only ever be 10,000,000,000,000,000 transactions and all of the Ripples will be destroyed.  If you did 1 billion (1,000,000,000) transactions per year it would take 10,000,000 years to destroy them all?  Can someone double check that I am looking at that right.  Doesn't make sense to me but that is still a huge number.

[slothbag]

sauce?

Tomato

(https://ripple.com/wiki/Transaction_Fee)

I think it can be changed by consensus.

[ulhaq]

That time horizon is too long to be meaningful, BUT as 100 billion transactions/year (https://www.quora.com/How-many-credit-and-debit-card-transactions-are-there-every-year) is more reasonable, and if one adds in all the micropayments that are not possible now, and we are looking at orders of magnitude lower, but still too long to have any meaning.

Regardless, if the fee is so small so as to not have significance, it will not significantly reduce spam? So then the fee has to be increased and maybe it becomes significant at some point?