Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
You bullshittin!!!!
It was a bit of conjecture but I'm looking at the Polo buy orders and the volume is increasing.At this rate it may test $0.50 within days.
55 Billion XRP into lockup
WORTH 14 Billion Dollars
https://ripple.com/insights/ripple-...ow-to-ensure-certainty-into-total-xrp-supply/
We’ve shared our vision of an Internet of Value in which money moves like information moves today. Key to realizing that vision is lowering the cost of payments, especially in emerging markets. Financial institutions can use XRP, the native digital asset to the Ripple Consensus Ledger (RCL), to exactly that end if XRP is highly liquid.
To build XRP liquidity, we have been mindful over the years about how we distribute XRP. Our goal in distributing XRP is to incentivize actions that build trust, utility and liquidity. We engage in distribution strategies that we expect will result in a strengthening XRP exchange rate against other currencies. We have a proven track record of doing just that. Despite this four-year track record we have heard concerns in the market about uncertainty surrounding our ongoing XRP distribution. The root of this uncertainty is the notion that Ripple might one day sell its 61.68B XRP in the market at any time – a scenario that would be bad for Ripple! Our self-interest is aligned with building and maintaining a healthy XRP market.
Today we are permanently removing that uncertainty by committing to place 55 billion XRP into a cryptographically-secured escrow account by the end of 2017. By securing the lion’s share of our XRP, investors can now mathematically verify the maximum supply of XRP that can enter the market.
Here’s how the escrow will work:
The recently launched Escrow feature in RCL allows parties to secure XRP for an allotted amount of time or until specific conditions are met. For example, Escrow allows a sender of XRP to put conditions on exactly when a payment can be completed, so the payment remains cryptographically locked until the due date.
We’ll use Escrow to establish 55 contracts of 1 billion XRP each that will expire on the first day of every month from months 0 to 54. As each contract expires, the XRP will become available for Ripple’s use. You can expect us to continue to use XRP for incentives to market makers who offer tighter spreads for payments and selling XRP to institutional investors.
We’ll then return whatever is unused at the end of each month to the back of the escrow queue. For example, if 500M XRP remain unspent at the end of the first month, those 500M XRP will be placed into a new escrow account set to expire in month 55. For comparison, Ripple has sold on average 300M XRP per month for the past 18 months.
“Within the $50 billion digital asset market, XRP has already grown tremendously in volume and market capitalization, and this pivotal development comes on the heels of Ripple’s significant customer traction with financial institutions. The lockup provides a level of predictability about XRP supply that is favorable for market demand,” says Spencer Bogart, Head of Research at Blockchain Capital.
XRP is the only digital asset with a clear use case – it’s the best digital asset for payments. While bitcoin has virtually reached its limit to process transactions (and continues to decline in market share), XRP is faster, more efficient and more scalable. Designed for enterprise use, XRP can be used by financial institutions for on-demand liquidity for cross-border payments. Payment providers and banks using XRP will gain greater access to emerging markets and much lower settlement costs, and this is why we remain committed to increasing XRP liquidity and continued decentralization of its ledger.
“We partnered with Ripple because of their strength bringing financial institutions together. Ripple’s lockup of its 55 billion XRP with a cryptographic supply schedule is a clear signal that they are serious about building and maintaining a long-term, healthy ecosystem for XRP based applications,” says Mike Belshe, Co-founder & CEO of Bitgo.
WORTH 14 Billion Dollars
https://ripple.com/insights/ripple-...ow-to-ensure-certainty-into-total-xrp-supply/
We’ve shared our vision of an Internet of Value in which money moves like information moves today. Key to realizing that vision is lowering the cost of payments, especially in emerging markets. Financial institutions can use XRP, the native digital asset to the Ripple Consensus Ledger (RCL), to exactly that end if XRP is highly liquid.
To build XRP liquidity, we have been mindful over the years about how we distribute XRP. Our goal in distributing XRP is to incentivize actions that build trust, utility and liquidity. We engage in distribution strategies that we expect will result in a strengthening XRP exchange rate against other currencies. We have a proven track record of doing just that. Despite this four-year track record we have heard concerns in the market about uncertainty surrounding our ongoing XRP distribution. The root of this uncertainty is the notion that Ripple might one day sell its 61.68B XRP in the market at any time – a scenario that would be bad for Ripple! Our self-interest is aligned with building and maintaining a healthy XRP market.
Today we are permanently removing that uncertainty by committing to place 55 billion XRP into a cryptographically-secured escrow account by the end of 2017. By securing the lion’s share of our XRP, investors can now mathematically verify the maximum supply of XRP that can enter the market.
Here’s how the escrow will work:
The recently launched Escrow feature in RCL allows parties to secure XRP for an allotted amount of time or until specific conditions are met. For example, Escrow allows a sender of XRP to put conditions on exactly when a payment can be completed, so the payment remains cryptographically locked until the due date.
We’ll use Escrow to establish 55 contracts of 1 billion XRP each that will expire on the first day of every month from months 0 to 54. As each contract expires, the XRP will become available for Ripple’s use. You can expect us to continue to use XRP for incentives to market makers who offer tighter spreads for payments and selling XRP to institutional investors.
We’ll then return whatever is unused at the end of each month to the back of the escrow queue. For example, if 500M XRP remain unspent at the end of the first month, those 500M XRP will be placed into a new escrow account set to expire in month 55. For comparison, Ripple has sold on average 300M XRP per month for the past 18 months.
“Within the $50 billion digital asset market, XRP has already grown tremendously in volume and market capitalization, and this pivotal development comes on the heels of Ripple’s significant customer traction with financial institutions. The lockup provides a level of predictability about XRP supply that is favorable for market demand,” says Spencer Bogart, Head of Research at Blockchain Capital.
XRP is the only digital asset with a clear use case – it’s the best digital asset for payments. While bitcoin has virtually reached its limit to process transactions (and continues to decline in market share), XRP is faster, more efficient and more scalable. Designed for enterprise use, XRP can be used by financial institutions for on-demand liquidity for cross-border payments. Payment providers and banks using XRP will gain greater access to emerging markets and much lower settlement costs, and this is why we remain committed to increasing XRP liquidity and continued decentralization of its ledger.
“We partnered with Ripple because of their strength bringing financial institutions together. Ripple’s lockup of its 55 billion XRP with a cryptographic supply schedule is a clear signal that they are serious about building and maintaining a long-term, healthy ecosystem for XRP based applications,” says Mike Belshe, Co-founder & CEO of Bitgo.
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At this rate it may test $0.50 within days.
I'm not buying no fast food or eating out all week. All my change going into XRP. I was close to buying that.new injustice 2 game but FUCK that.
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I see so many negative reports and reviews with Coinmama; How do you like it? and have you had any issues?
This is even better news! So starting 2018 they will only release 1 Bn XRP each month and anything unused as market incentives will be pushed back to the queue.
So that 16Bn won't be traded on markets its sole use is for system incentives.
That's a major key!
I think when Coindesk wrote their article yesterday before they published this morning, they calculated (55B XRP)*$0.26= $14.3B
With the current evaluation, that'll put Ripple at a market cap of $26.8B. That should equate XRP to approximately $0.69.
I could be wrong.
By when?
This is even better news! So starting 2018 they will only release 1 Bn XRP each month and anything unused as market incentives will be pushed back to the queue.
So that 16Bn won't be traded on markets its sole use is for system incentives.
That's a major key!
Ok so the 38 billion that coinmarket says is in circulation isnt effected in this lockdown? only the billions that ripple hasnt released to the market yet right?
I'm assuming immediately when Ripple put the $14B into XRP. That's how the math works out. If you add $14B to the current market cap ($12.5B) then you got a market cap of $26B+
Now what I don't know is if this 55B XRP lock up deals solely with the non circulating supply, circulating supply or a mix of both. That's why I said it could be wrong. It may just be the non circulating supply since they currently have 61.8B XRP (61.8B-55B) just to show stability which makes more sense. In this scenario I don't know how it will affect the market cap other than to fuel more investors. The $14B wouldn't have a direct impact on capitalization though.
Still, I could be wrong.
none yet but I'll probably order the ledger blue...it looks more durable than the nano s and I like the touchscreen
Yeah that's what I'm getting as well.
May not even directly affect the price other than to give investors a sense of stability. Which is still good. Might not see $0.69 immediately like I was suspecting earlier.
Yes use this link (I wish I had it would have saved me money and time)
https://bithomp.com/activation/
LMAO my homie just called and said he leaving it at the store he did the $5 pre-order but not picking up his copy till he put some money on this shit.
Yes gatehub is always about 2 cents lower than any other exchange for now at least. Once they higher volume that will change.
Yes that's my understanding that it's the unreleased XRP held by Ripple.
It strengthens investor confidence and trust that the retained XRP won't be used to artificially control the price of the coin.
They've been saying that all along but outside big money wasn't gonna sink billions more on nothing more than a promise not to do something. This act is in good faith and Ripple can now achieve its true economic potential.
my bet is they're full of shit...I hope it do drop so I can buy some more...they sound like angry dweebs tryna "rally" a drop tho for w/e reason
@ "kill it with fire"
Yeah but Bitstamp keeps saying "not available" when I try to use the CC option. Going to try coinmama thx
Yeah I am trying to save the steps as well, but a straight wire transfer not cheap for my smaller transactions to come like a weekly payment. I want to just set a recurring payment that I was sending to ING and send to this shit instead. ING paying me $4 a month on my money
Bruh at this point, even if you do not understand, I would still consider jumping on Ripple at least. Possible Stellar if you got the cash and time to read up on those 2. But, its safe to say there are at least 20 of us in this thread that can testify how Ripple has surprised and impressed us all. Blindly throwing a little change at Ripple right now would prolly be the best in the long run. You can always read up on it. But the price is not staying put long enough to read this entire thread and then purchase. You will fuck yourself out of Ripple cause it is going to go up steadily. Good luck.
On a sidenote, I am wondering how long these White guys and Asians have been getting rich at this crypto currency.
First couple pages of this thread should provide all the info you need to get started
Just went to coinmama to check out their rates for buying bitcoin with CC. Too high man they want 7.5% But you get an instant transfer. The other thing is they only allow you do to fixed amounts so basically $1000.00 worth min at a time. No conducive to sending whatever you have in your pocket.
Coinbase allows transfers from the bank at 1.49% great rate but it takes 5 fucking days for the shit to go through. At this rate that's a 10 -12 cent difference in XPR price. Oh that doesn't count the weekend either.
Any other options for quick purchase of bitcoin at a good rate that can be transferred quickly? I am new to the game 2 weeks in, maybe I am expecting too much.
Coinbase allows transfers from the bank at 1.49% great rate but it takes 5 fucking days for the shit to go through. At this rate that's a 10 -12 cent difference in XPR price. Oh that doesn't count the weekend either.
Any other options for quick purchase of bitcoin at a good rate that can be transferred quickly? I am new to the game 2 weeks in, maybe I am expecting too much.
Man I spend time looking at the convo in the Troll box. Most are just some cats with money to invest, but no real knowledge or strategy. Then, the others are mbrs of these pump and dump groups. I peeped that last night when they did the pump of the coin. The leader straight up said flood the troll box with questions about the coin being pumped.
The way Ripple is moving, you should see ROI pretty soon if you buy at a cool price. Prolly in the first day if you get in a good position
What do you mean by at a cool price? And also what do you mean by get in a good position?
I'm really new to this so please explain slowly. I appreciate the help
Bitstamp, gatehub, or Kraken? And coinmama? What is that? Which one is the simplest and less likely to be hacked?
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I just use coinmama if I have to lock in a price. Otherwise, I use Coinbase mostly because they let you send more at 1 time. And Coinbase does not take days. If your card is verified you can send at least 1K instantly.
If Ripple dropped to $0.20, I would bite the bullet and go through the mama!
The cool price is relative. What is cool today was not cool in March. Right now, it is holding strong at $0.30. I would try to get it for 20 some odd cents if it falls. Otherwise, bite the bullet and get it for 30 some odd cents.
But ALWAYS TRY TO AVOID BUYING WHILE IT IS ACTIVELY RISING. There are peaks and valleys, so you should always be able to get if for a little less than the current price. Look at the Buy orders and see how much money people are spending at each level.
How long does it take to verify? 3rd day waiting on bitstamp. And can I fund and purchase instantly at that point if my coin base is set up already?
PUMP ALERT:
The previous room for coin pumps is weak...
Here's another pump it team that looks more offical: https://t.me/pump_it
I will try to see what's good and post here
The previous room for coin pumps is weak...
Here's another pump it team that looks more offical: https://t.me/pump_it
I will try to see what's good and post here
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