Positive news from Ripple (XRP)

[bbc.reporter]

All these years Ripple always comes out with news that are supposed to be good. The altcoiners here, who are really closet bitcoiners, buy and they all lose money. If that news is really good then why is everyone dumping their XRP? The only people who are making money out of this is Ripple the company.

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[PentagonPinnacle]

Really when was the last time they reported a bank is actually using their currency ?

[Spoetnik]

Really when was the last time they reported a bank is actually using their currency ?

https://encrypted.google.com/search?q=Bitcointalk+Ripple+Bank+site:bitcointalk.org&safe=off

Trust me they have been reposting that "News" over and over for YEARS !

[PentagonPinnacle]

Really when was the last time they reported a bank is actually using their currency ?

https://encrypted.google.com/search?q=Bitcointalk+Ripple+Bank+site:bitcointalk.org&safe=off

Trust me they have been reposting that "News" over and over for YEARS !

Its still relevant. And this time a bank with a very high volume of cross boarder transactions is actually using the Ripple blockchain & XRP.

This confirms the success of the other banks who have used the system, consider it as being piloted in the past.

2017 will see Mass adoption you know there are thousands of banks out there not just six....

https://www.youtube.com/watch?v=ZckgnFDUOU8

[Spoetnik]

Explain why Noobs on Poloniex (who probably don't have a clue what Ripple is) should buy XRP "tokens".
..relating to this news.

By all means guy.. step up and sell it ! 

[PentagonPinnacle]

Looks like the increase in value is only going to continue, with news like this I'm surprised price is low.

Considering the collective of banks involved can easily eat up billions of ripples at this price in no time.


The Bank of England’s FinTech Accelerator announced today that it is conducting a PoC with Ripple to demonstrate cross-border payments and settlement using two different Real Time Gross Settlement (RTGS) systems. This collaboration marks the first instance of a central bank exploring how it can use blockchain technology to enable improved cross-border payments. Ripple’s solution is built around the open and neutral Interledger Protocol and serves to power interoperable payments across different ledgers and networks. The goal of this PoC is to showcase the synchronized movement of two different currencies across two different RTGS systems and how this kind of synchronization might lower settlement risk and improve the speed and efficiency of cross-border payments.

The @bankofengland is the 1st central bank exploring their use of blockchain tech. Proud to join them! Tweet This

Launched in June 2016, the Bank of England’s FinTech Accelerator works in partnership with new technology firms to harness financial technology solutions for central banking institutions. The Accelerator offers technology companies the opportunity to demonstrate their solutions for real challenges facing banks and policymakers. Selection to participate in this PoC is a competitive process, and at the conclusion may be additional opportunities to showcase the results in a case study, or even continue down a path to becoming an ongoing partner of the Bank of England.

Ripple also participated in the Bank’s recent public consultation for the RTGS Strategy Review, an initiative focused on the design of the next generation of RTGS system for the United Kingdom’s central bank.

“Since establishing Ripple’s London office last year, I’ve seen first-hand how eager customers are to understand the transformative potential of Ripple’s solution,” said Danny Aranda, Ripple’s Managing Director of Europe. “We’re proud to have the opportunity to show the Bank of England – and central banks everywhere – how Ripple can help solve key issues associated with cross-border settlements, and we look forward to continuing this relationship.”

For more information about how we are working with the financial services community, please contact us.
 
https://ripple.com/insights/ripple-selected-to-participate-in-the-bank-of-england-fintech-accelerators-exploration-of-the-use-of-blockchain-for-global-rtgs/

[shyliar]

What concerns me about these types of articles is they often specifically go out of their way not to mention if it involves a private blockchain or something that is publically available. Ethereum has been using that type of deception where many of the articles turn out to be referencing a private chain; but, the announcement is used to pump the public chain. The wording of this article suggests to me that it has nothing to do with the public XRP.

It's unfortunate that this type of deception has become commonplace.

[PentagonPinnacle]

The banks find Ripple attractive because of their ability to control and track transactions.

I wouldn't worry about the details the coin itself would be valid in both.

Enjoy the rally : )

[shyliar]

The banks find Ripple attractive because of their ability to control and track transactions.

I wouldn't worry about the details the coin itself would be valid in both.

Enjoy the rally : )

LOL don't worry about the details. That sure is interesting investment advice.

[PentagonPinnacle]

The banks find Ripple attractive because of their ability to control and track transactions.

I wouldn't worry about the details the coin itself would be valid in both.

Enjoy the rally : )

LOL don't worry about the details. That sure is interesting investment advice.

yeah lol i'm up 400 % and you ? I bet zilch. Regarding not worrying about the details on how the banks plan to implement what does it matter so long as the value goes up and smart investors take profits ?

Good Luck to you on the sidelines.

[Dummsaus]

No currency is safe from manipulations. We know this is a fact.
The problem with Ripple is the IOU's.
Opening an account, is not always what you have, but also what you could owe.
And who is going to prove that you never owed anything to anyone, but Ripple account says -1.000.000$.
Owed to the Bank of Wickedness.
This would make me think twice before opening any ripple account.

it is a fact, we do not have any BTC successor, worth it yet.
And that is what 2017 is going to be.

[namini]

@Dummsaus I'm not sure I understand you but I agree any IOU has counterparty risk.
XRP is not an IOU it's a digital asset with no counterparty risk (but yes you can also hold IOU on Ripple).

Btw I agree with the Russian guy  

[onelove2111]

Ripple really skyrocket. Why? Any big news for this?

[LeGaulois]

I am following XPR a little as well

...While the recent surge in XRP is certainly influenced by Bitcoin's scalability issues, much of the recent momentum is due to the announcement that MUFG joined Ripple's steering group, GPSG. Unlike other digital assets, XRP has a clear use case and people are beginning to recognize that...

..., MUFG’s banking arm The Bank of Tokyo-Mitsubishi UFJ (BTMU) publicly announced that it is joining Ripple’s Global Payments Steering Group (GPSG)....

https://cointelegraph.com/news/ripple-price-surge-continues-altcoin-takes-advantage-of-bitcoin-scaling-troubles

[jjacob]

What concerns me about these types of articles is they often specifically go out of their way not to mention if it involves a private blockchain or something that is publically available. Ethereum has been using that type of deception where many of the articles turn out to be referencing a private chain; but, the announcement is used to pump the public chain. The wording of this article suggests to me that it has nothing to do with the public XRP.

It's unfortunate that this type of deception has become commonplace.

Yes, Ripple is the latest coin to find flavour with the pumpers and dumpers.
The rally seems to be amazing, but it is best to stay away.

[PentagonPinnacle]

What concerns me about these types of articles is they often specifically go out of their way not to mention if it involves a private blockchain or something that is publically available. Ethereum has been using that type of deception where many of the articles turn out to be referencing a private chain; but, the announcement is used to pump the public chain. The wording of this article suggests to me that it has nothing to do with the public XRP.

It's unfortunate that this type of deception has become commonplace.

Yes, Ripple is the latest coin to find flavour with the pumpers and dumpers.
The rally seems to be amazing, but it is best to stay away.

 think this is a pump and dump would discount years of testing, development and piloting by a many number of banks from Japan to England.

The surge in price appears to be attributed to a number of catalysts including those mentioned in the links posted on this thread.
 
Here are some recent factors which are influencing the price :

However, Ripple has also announced new features meant for “bringing the Internet of Value to life”, which could have positively affected its image with investors.

The Ripple Consensus Ledger (RCL) and Interledger Protocol (ILP) can now communicate with each other, which the developers say is creating a network that can interconnect all the world’s value on ledgers.

The two new features Escrow and Payment Channels, which help to increase the performance and scalability of RCL, became active for all users on Friday. Escrow allows RCL and ILP to communicate to secure XRP for an allotted amount of time or until certain conditions are met.

The new features allow companies to adopt RCL and ILP, and those using the technology will receive the benefits of XRP, providing them with a faster, cheaper experience for cross-border payments.

The developer adds that unlike other systems (alluding to the bitcoin blockchain) which can’t handle many transactions, Ripple’s payments network can now operate at volumes previously seen only by Visa.

http://www.financemagnates.com/cryptocurrency/trading/ripple-market-cap-well-1-5-billion-xrp-doubles-price/

[JoelKatz]

What concerns me about these types of articles is they often specifically go out of their way not to mention if it involves a private blockchain or something that is publically available. Ethereum has been using that type of deception where many of the articles turn out to be referencing a private chain; but, the announcement is used to pump the public chain. The wording of this article suggests to me that it has nothing to do with the public XRP.

It's unfortunate that this type of deception has become commonplace.

We've been pretty clear that our strategy is to eliminate obstacles to payments being bridged with XRP. The obstacles are eliminated whether the payment takes place on the public ledger or off it.

It's precisely the same situation with bitcoin. People using colored coins on ledger don't really help the value of bitcoins much. But companies exchanging bitcoins, even off ledger, do.

Really the location of the payment doesn't much matter.

We spent several years trying to convince FIs to make transactions on a public ledger. We had some success, but the requirement to use a single, public ledger brought huge downsides. It reduces privacy. It limits throughput. And it means everyone has to transact by the exact same, inflexible rules even though people really do want different things.

It is way, way better to have the option to use a public blockchain where its benefits make sense and avoid it where they don't.

So we changed our approach. Now, we have a software product that takes care of everything that has to happen around a payment. The actual payment itself can take place on a public ledger or it can take place using ILP. FIs seem to like this approach a lot. The objections to being forced to hold a crypto-currency, forced to transact in public, forced to rely on third parties whose performance can't be guaranteed, and so on are lifted. Now, if XRP can bridge that payment, there's no technical obstacle.

The beauty is that banks can use this system even if XRP can't bridge a single payment. And then, when it can effectively bridge one in a thousand payments, it will. And if it can ever effectively bridge one in a hundred payments, that will happen. It's a path to solve the various chicken and egg problems where nobody will invest in a system that makes using a crypto-currency even possible until there's enough volume/capacity to handle a significant fraction of payments.

Then, we can pick the best corridors and target them, and the payments will flow.

[shyliar]

What concerns me about these types of articles is they often specifically go out of their way not to mention if it involves a private blockchain or something that is publically available. Ethereum has been using that type of deception where many of the articles turn out to be referencing a private chain; but, the announcement is used to pump the public chain. The wording of this article suggests to me that it has nothing to do with the public XRP.

It's unfortunate that this type of deception has become commonplace.

We've been pretty clear that our strategy is to eliminate obstacles to payments being bridged with XRP. The obstacles are eliminated whether the payment takes place on the public ledger or off it.

It's precisely the same situation with bitcoin. People using colored coins on ledger don't really help the value of bitcoins much. But companies exchanging bitcoins, even off ledger, do.

Really the location of the payment doesn't much matter.

We spent several years trying to convince FIs to make transactions on a public ledger. We had some success, but the requirement to use a single, public ledger brought huge downsides. It reduces privacy. It limits throughput. And it means everyone has to transact by the exact same, inflexible rules even though people really do want different things.

It is way, way better to have the option to use a public blockchain where its benefits make sense and avoid it where they don't.

So we changed our approach. Now, we have a software product that takes care of everything that has to happen around a payment. The actual payment itself can take place on a public ledger or it can take place using ILP. FIs seem to like this approach a lot. The objections to being forced to hold a crypto-currency, forced to transact in public, forced to rely on third parties whose performance can't be guaranteed, and so on are lifted. Now, if XRP can bridge that payment, there's no technical obstacle.

The beauty is that banks can use this system even if XRP can't bridge a single payment. And then, when it can effectively bridge one in a thousand payments, it will. And if it can ever effectively bridge one in a hundred payments, that will happen. It's a path to solve the various chicken and egg problems where nobody will invest in a system that makes using a crypto-currency even possible until there's enough volume/capacity to handle a significant fraction of payments.

Then, we can pick the best corridors and target them, and the payments will flow.

It seems you're confirming that my statement that the wording of this article suggests it has nothing to do with the public XRP is likely accurate. I do understand the necessity of privacy utilizing an ILP. How does ripple view these types of threads that use misleading news articles to pump the public chain?

[JoelKatz]

It seems you're confirming that my statement that the wording of this article suggests it has nothing to do with the public XRP is likely accurate. I do understand the necessity of privacy utilizing an ILP. How does ripple view these types of threads that use misleading news articles to pump the public chain?

I don't agree with your premise for the reasons that I explained. That FI's can make their payments off ledger and still have them be bridged by XRP when that's to their advantage is a plus, not a minus. If it's misleading not to mention this, it's only because it understates the value proposition. The only way it would be misleading is if anyone said or implied that these payments were being bridged by XRP today. If you see anyone doing that, I will loudly condemn it.

[hermanhs09]

Seems like very good news for ripple.

Also explains the price hike from a few weeks ago.

Ripple is one of the altcoins that always goes against the general trend bitcoin is headed at. So when bitcoin is down, ripple generally goes up quite a lot. When bitcoin is up, ripple is usually down in fiat terms.