Ripple Adds 10 New Financial Firms to 'Blockchain Network'

[f0rmdeep]

I provided you link from Ripple's website fool. I know you're hoping for more greater fools, won't happen with me atleast. You're providing me links for banks working with ripple. I know that. I was talking about XRP not being needed by banks to use ripple. Get lost.

want it form the source ?
here : http://www.sbigroup.co.jp/news/2017/0427_10658.html ( google will be happy to translate it from Japanese to English )

Sure, GIVE ME FROM THE SOURCE. Oh wait. No mention of XRP, just ripple. As i expected.

Even ripple said the curent surge in price ( from when it was ~250mil ) came from bitcoin side.

Plus, even if XRP actually WAS used. Still, as a speculator there wouldn't be a point to BUY it because banks WOULDN'T buy from you anyway. Doh. They would simply take it from ripple who can make it out of thin air. And as a private company they can release as much as xrp they want. It is not decentralized and users/ miners wouldn't be able to oppose.

www.sbigroup.co.jp/english/investors/disclosure/presentation/pdf/170301presentations.pdf

SLIDE 35, 36 and 37


The more you try, the more you get BUSTED. Great ! its working for XRP's good actually. thank you ! LOL

[mining1]

Why do you care about Ripple so much?

As a Bitcoin enthusiast, I'm reading your posts opposite of FUD --do you know what I mean? Good press bad press is still press, so there must be something else here.

Are you employed by Ripple or secretly own a huge stash (whale) trying to pitch a tent?

Everyone should be suspicious of embellished content like this; pro or con. It gives Bitcoin a bad rap in my opinion and implicates yourself in the process...but I'm just a nobody

I simply have higher moral standards. I know money make people act like jerks, but i would never advice anyone to invest in something i would think as bad so i can benefit from it indirectly. Like investing in a project that is as good as any ponzi scheme.

@f0rmdeep your link sucks and proves my point LOL. As you can see in your own links they talk generally about cryptocurrency not just XRP and bitcoin's logo is there aswell. Nothing in your links suggest XRP is even remotely needed. XRP is need for ripple as much as bitcoin, ethereum, or any "insert cryptocurrency here" is needed.\

To be noted, i am not saying ripple doesn't work or isn't succesful, atleast so far. But i am saying, and ripple's team admited it on their own site aswell, that XRP is not needed for ripple.
Proof https://ripple.com/xrp-portal/

[namini]

[mining1]

And that's the point. XRP isn't a stable currency, the example above looks at XRP as a non volatile crypto. That's why you can pick any cryptocurrency and put it in XRP's place and have the same result. That's why banks don't care about XRP, and that's why ripple admitted XRP is not needed for using their platform.

[namini]

You have an answer for everything.

Let me quote Joelkatz:

Maybe others understand that the obstacle to getting FI's to use blockchains is not the blockchain but it's everything else. It's integration, compliance, regulatory, business rules, and so on. These are all the things Ripple has been doing and announcing.

I won't argue, in the end, we will see who is right in a few years.

[f0rmdeep]

And that's the point. XRP isn't a stable currency, the example above looks at XRP as a non volatile crypto. That's why you can pick any cryptocurrency and put it in XRP's place and have the same result. That's why banks don't care about XRP, and that's why ripple admitted XRP is not needed for using their platform.

now its time for you to share your sources, because till now all your have done is speak your mind ( which is perfectly fine )

the entire transaction including cryptographic locks and reservation takes 5 seconds, there is no way volatility can effect it.

here is a REAL &  live transaction between ATB Financial Canada and ReiseBank Germany to debunk your Fake and unfounded volatility argument :

https://www.youtube.com/watch?v=bAnHzDEP8GM  

and here is confirmation of the same from David Blair, famous treasury consultant for over 30 years that many governments depend upon

https://www.linkedin.com/pulse/ripple-vs-swift-payment-revolution-david-blair

and here is how Volatility doesn't matter ( exactly how settlement of funds occur ) : https://www.youtube.com/watch?v=5e2jDFL1kKI&t=88s

and besides, with Central banks, institutions and large corporate + Normal people like you and me holding XRP will give it perhaps best stability ( not all trading monkey hands ) So your volatility argument doesn't stand either.

lets see if your Moral Compass has anything called as Humility, Confession or Correcting-oneself. Without those its not very Moral is it. speak about moral compass !

Even I am going to end my arguments like the other person as there is nothing left.

...

what a shame, innovation is being blemished with mis-information and propaganda by those who were all about innovation when bitcoin started ! ( this is not directed at you, but on the general campaign that is happening here spreading all sorts of lies )

[namini]

No need to try to convince him, he doesn't want to be convinced, so he's going to reply, and you, and then he, this discussion is going nowhere. People have to form their own opinion.

[ven_bug_trap]

Isn't the very fact that they cooperate with banks and aim to serve the current financial system proof enough that they aren't really decentralised?

[f0rmdeep]

Isn't the very fact that they cooperate with banks and aim to serve the current financial system proof enough that they aren't really decentralised?

there are many ways to achieve de-centralization. One way is "working with" the system.

History is proof, from pirates of Caribbean to mafia of USSR - anyone who tried to completely obfuscate from the system has always failed, because at the end of the day it is in the main-stream - they have to operate to create real-life value.

So you make an interesting point. RCL is decentralized - you can have a wallet and have money in it, and don't need to disclose whats your address to anybody. No government can stop you, neither ripple can.

But i am on Ripple's side with this one, on "working with the system" to Reform the system - instead of trying to live in a virtual world and pretend real-life doesn't exist ( and still get stuck every time one has to convert to fiat or come under regulations from government).

This is the same realization Mr Vitalik went through, and the Same realization Mr Chris Larsen went through. We cannot reform the system by running far away form it and building a wall on all sides.

and lastly are we not seeing, how bitcoin is loosing anonymity as it is coming more and more under regulation ? Japan is even now collecting the bitcoin service providers and one will have to declare crypto assets. Soon bitcoin wallets of a certain value will be tagged to a person, if one has a secret wallet, it will be hard to send or receive anything... ( as more and more providers force KYC and regulation )

just one real example... my 2 cents...

Ripple did it right from the very beginning and now are on verge of breakthrough... if they get banks to accept RCL, then the anonymity on RCL will also for the first time accepted by the system. Not that it will not be regulation if one wants to operate- but that is one's personal choice and freedom, but it will be allowed to stay as a standard feature which is a big deal.

in other words, all i am saying is, "they are realistic". they have worked hard since day one to do things the right way - regulated answerable liable company, licensed to operate - cannot cheat and run away overnight...  etc.. and now it is clearly paying off.

[bbc.reporter]

I want to ask what arrangement do the financial firms have with Ripple? Do they buy and hold XRP to have it as a stake on the network or do they run Ripple nodes to verify transactions? I keep reading all the news about every bank joining Ripple but there are no clear details. Maybe they are only testing it with no formal arrangement.

They get XRP fro free to build infrastructure. So something to use XRP easier for everyone.

The banks get XRP for free while the cryptocoin followers buy them because they speculate it will have far more greater value than today. That looks like a scam model if what you said is true. How did you know that Ripple gives them away for free to banks?

until and unless people give sources, you can be rest assured of misinformation. you shoudl look for actual sales and related reports ( after all ripple is a registered, answerable and responsible company, unlike so many other coins who can take of and run with your money anytime ) :

here you go , not trolling, not saying my own opinions either, actual sales and report :

Q4 - 2016 - https://ripple.com/xrp-portal/xrp-resources/q4-2016-xrp-markets-report/
Q1 - 2017 - https://ripple.com/insights/q1-2017-xrp-markets-report/


:-) some groups are sure ganging up to spread mis-information on ripple. may be because they cannot make any money with ripple, unlike other basement coins ? :-) something to think about.

Those reports of the sales of XRP to the allegedly institutional buyers are not clear. The more important details like who bought them, the price for each XRP and how many XRP were sold are not included. But I am sure those buyers bought them below the market price and they are free to dump some on the uninformed at Poloniex.

Those reports still do not give a straight answer what arrangement the banks have with Ripple.

[axrhuls]

No wonder there was a significant pump on poloniex, it was increased by 50% in one day, the good news is real, and promote the blockchain technology.

[f0rmdeep]

I want to ask what arrangement do the financial firms have with Ripple? Do they buy and hold XRP to have it as a stake on the network or do they run Ripple nodes to verify transactions? I keep reading all the news about every bank joining Ripple but there are no clear details. Maybe they are only testing it with no formal arrangement.

They get XRP fro free to build infrastructure. So something to use XRP easier for everyone.

The banks get XRP for free while the cryptocoin followers buy them because they speculate it will have far more greater value than today. That looks like a scam model if what you said is true. How did you know that Ripple gives them away for free to banks?

until and unless people give sources, you can be rest assured of misinformation. you shoudl look for actual sales and related reports ( after all ripple is a registered, answerable and responsible company, unlike so many other coins who can take of and run with your money anytime ) :

here you go , not trolling, not saying my own opinions either, actual sales and report :

Q4 - 2016 - https://ripple.com/xrp-portal/xrp-resources/q4-2016-xrp-markets-report/
Q1 - 2017 - https://ripple.com/insights/q1-2017-xrp-markets-report/


:-) some groups are sure ganging up to spread mis-information on ripple. may be because they cannot make any money with ripple, unlike other basement coins ? :-) something to think about.

Those reports of the sales of XRP to the allegedly institutional buyers are not clear. The more important details like who bought them, the price for each XRP and how many XRP were sold are not included. But I am sure those buyers bought them below the market price and they are free to dump some on the uninformed at Poloniex.

Those reports still do not give a straight answer what arrangement the banks have with Ripple.

Well i am sure they have Client privacy agreements to honor. Especially unlike other altcoins , they work with the largest, most trusted institutions that actually impact "everyday" life.

But, I do agree, this extensive details on terms-of-sale is missing, but hardly matters to me. If dumping is what i had to be worried about, i woudl worry about the thousand coins that are unregistered, has no liable company backing them, no answerable entity nor a functional license.

Given that Ripple is licensed, regulated, responsible and liable company that can be held accountable under court of law, I am perfectly good trusting them devoid the fine terms-agreement with their client. I speaking for myself, understand the need for regulation, and this far more transparency then the many operators working without respective licenses or regulation clearances.

simply put the Day govt says  "all unregulated and unlicensed cryptos are illegal" most of those coins are gone - their respective devels will vanish into onion web in a single night. I suggest that we be more concerned about them rather.  

On the other hand, with XRP, I don't have to worry about anything, while most of the alt coins out there are over. Add to that the supply regulation and locking is coming with their introduced escrow future. Great future for IOV, the onus of research and learning is on the investor. More than this is going to be spoon feeding, so i am going to stop. I am sure google had everything u need.

@Note: As for others, reading through this forum should have made case perfectly clear... I am sure i don't need to say anything more.

good luck to all. I am very pleased with Ripple and all the great progress they have made. and perhaps feel the safest investing in them compared to others. As far as real life use case, how many are even anywhere close to xrp anyways ?

BTC is store of value, ETH is contractual code, XRP is transaction and settlement. Educated community is pretty clear on usecase.

Best, f0rmdeep

[bbc.reporter]

I want to ask what arrangement do the financial firms have with Ripple? Do they buy and hold XRP to have it as a stake on the network or do they run Ripple nodes to verify transactions? I keep reading all the news about every bank joining Ripple but there are no clear details. Maybe they are only testing it with no formal arrangement.

They get XRP fro free to build infrastructure. So something to use XRP easier for everyone.

The banks get XRP for free while the cryptocoin followers buy them because they speculate it will have far more greater value than today. That looks like a scam model if what you said is true. How did you know that Ripple gives them away for free to banks?

until and unless people give sources, you can be rest assured of misinformation. you shoudl look for actual sales and related reports ( after all ripple is a registered, answerable and responsible company, unlike so many other coins who can take of and run with your money anytime ) :

here you go , not trolling, not saying my own opinions either, actual sales and report :

Q4 - 2016 - https://ripple.com/xrp-portal/xrp-resources/q4-2016-xrp-markets-report/
Q1 - 2017 - https://ripple.com/insights/q1-2017-xrp-markets-report/


:-) some groups are sure ganging up to spread mis-information on ripple. may be because they cannot make any money with ripple, unlike other basement coins ? :-) something to think about.

Those reports of the sales of XRP to the allegedly institutional buyers are not clear. The more important details like who bought them, the price for each XRP and how many XRP were sold are not included. But I am sure those buyers bought them below the market price and they are free to dump some on the uninformed at Poloniex.

Those reports still do not give a straight answer what arrangement the banks have with Ripple.

Well i am sure they have Client privacy agreements to honor. Especially unlike other altcoins , they work with the largest, most trusted institutions that actually impact "everyday" life.

Are you sure they are supposed to be trusted? Those same institutions that oppress the people and fund wars for profit? Those same institutions that caused the housing bubble? They are scammers of another scale.

But, I do agree, this extensive details on terms-of-sale is missing, but hardly matters to me. If dumping is what i had to be worried about, i woudl worry about the thousand coins that are unregistered, has no liable company backing them, no answerable entity nor a functional license.

Then the community is not getting a good deal when they buy XRP in an exchange. They are again being scammed by the same institutions that are supposed to take care of us.

Given that Ripple is licensed, regulated, responsible and liable company that can be held accountable under court of law, I am perfectly good trusting them devoid the fine terms-agreement with their client. I speaking for myself, understand the need for regulation, and this far more transparency then the many operators working without respective licenses or regulation clearances.

The same as the banks of the housing bubble. But what did USA do? Their government bailed them out.

simply put the Day govt says  "all unregulated and unlicensed cryptos are illegal" most of those coins are gone - their respective devels will vanish into onion web in a single night. I suggest that we be more concerned about them rather.  

On the other hand, with XRP, I don't have to worry about anything, while most of the alt coins out there are over. Add to that the supply regulation and locking is coming with their introduced escrow future. Great future for IOV, the onus of research and learning is on the investor. More than this is going to be spoon feeding, so i am going to stop. I am sure google had everything u need.

Do not act like XRP is superior. They too are traded in the same cryptoexchanges together with scams. Why not tell Ripple to take them out of all the exchanges and let the banks buy and sell XRP with each other.

[mining1]

Be careful with RIPPLE. They own 2 times more XRP than it is in circulation today. Today, there's 37,884,902,021 in circulation. Total amount of XRP is 99,994,983,179, so over 60.000.000.000 XRP is owned by RIPPLE. If you take that into consideration, XRP is valued at 5.4 billion usd.

Proof http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/

[bbc.reporter]

Do the banks that have bought XRP straight from Ripple at whole sale prices also run their nodes? An organizatin that is independent from Ripple should start running nodes to test the protocol. I speculate only Ripple is running all the nodes to verify all the transactions. That is the same as a centralized set up.

[mining1]

Banks don't buy XRP. They have no reason to, google for ripple xrp and see on their website. Ripple is a private company and it is centralized, i don't think anyone else will run anything besides ripple.

[meeekz]

Be careful with RIPPLE. They own 2 times more XRP than it is in circulation today. Today, there's 37,884,902,021 in circulation. Total amount of XRP is 99,994,983,179, so over 60.000.000.000 XRP is owned by RIPPLE. If you take that into consideration, XRP is valued at 5.4 billion usd.

Proof http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/

Held by the foundation. They have a vested interest in market saturation. This will fund their company into the future.

[mining1]

Yes, but the investor in this case is the only side at a huge disadvantage. It's like buying GNO knowing the dev team own most tokens. Extremely risky. Everyone has all teh up sides and no downsides, except for the investor who has more downside than upside. Ripple has volume so they can continuously dilute investor's holdings value for many years. And they will.

[Snail2]

I said it a thousand times here.. banks don't need Ripple ICO scam coins.. or other Ripple bullshit 
No reputable bank would touch this Ripple crap.

Can anyone else without as much of a shitty reputation level as this Spoetnik troll chime in?

Does btctalk have an ignore feature yet?

I think Spoetnik is wrong on this.

First of all Ripple is a company with mostly corporate investors and they never had any ICO open to the public. So I wouldn't call it and "ICO scam coin".
Banks are definitely interested in the blockchain technology and constantly looking for new ways to simplify internal procedures and decrease costs. Ripple is an already working low cost network with professional developers and a visible company (=accountable) in the background. I'm pretty sure banks would prefer it over basement dwelling developer communities or Russian jack-of-all-trades geniuses .

[Snail2]

Yes, but the investor in this case is the only side at a huge disadvantage. It's like buying GNO knowing the dev team own most tokens. Extremely risky. Everyone has all teh up sides and no downsides, except for the investor who has more downside than upside. Ripple has volume so they can continuously dilute investor's holdings value for many years. And they will.

As I said a couple of times Ripple Labs already has it's investors. They don't really need us. So we can not be investors in regards of XRP but only speculators. Of course they diluting holdings, as they don't want holdings and hoarders on their network. They want to keep the network cheap with a constantly available cheap supply of XRP for their users.
So if the price goes too high or the coin getting to scarce (because of we piling it up on Polo for the next pump), they can inject more coins from their own holdings into the market and stabilize the price and supply on an easily affordable level (and foiling our plans).