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/biz/ - Business & Finance

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File: 38 KB, 740x492, ripple-featured-large-1050x600.png [View same] [iqdb] [saucenao] [google]
8522650 No.8522650 [Reply] [Original]

Hello, I was just wandering if someone could answer me a question about Ripple XRP. They sell the token to the public as supposed "crypto for banks". I know they have 3 different producs and only xRapid is using the XRP token sold to the public. So, if a bank decide to use the xRapid where do the XRP tokens come from? They will enter a public crypto market (like bitfinex) and purchase the XRP from random people then sell them right back after every transaction? I just cant picture that. But this is the only way the banking transaction could actually make an impact on the public price. There is some 60bln XRP tokens help by Ripple labs on private ledgers (for unknown reason - to fund further development of Ripple labs they say) so maybe these tokens will be used in the industrial transactions? If so, these transactions will not be accounted in the public market price and will have no impact whatsoever on the price of XRP. Just serious answers please. Thanks.

>> No.8523094
File: 673 KB, 642x722, Stone Cold XRP Champ(1).png [View same] [iqdb] [saucenao] [google]
8523094

>>8522650
It's possible to use XRP in all of their products. XCurrent is primarily fiat, with optional XRP. xVia and xRapid are mandatory XRP.

>> No.8523102

>>8522650
The 60 Billion XRP is locked in a bunch of smart contracts that are timed to unlock about 1 Billion XRP per month for the next 5 years.

>> No.8523146

>>8523102

which unsold tokens are then rolled back into escrow for another 5 years.
For reference the most recent unlocks have re-escrowed 900 million of the 1 billion.

>> No.8523150

they can print more xrp if the banks don't want to buy from exchanges so it's no problem

>> No.8523178
File: 114 KB, 500x707, Cuz XRP Said So And Thats The Bottom Line.jpg [View same] [iqdb] [saucenao] [google]
8523178

>>8522650
Yes, xVia and xRapid do source the XRP from public exchanges. More businesses using xVia and xRapid will result in more volume on the exchanges and a higher XRP price.

>> No.8523188
File: 66 KB, 600x600, 1520330426237.jpg [View same] [iqdb] [saucenao] [google]
8523188

>>8523146
Yes.

>> No.8523222

>>8523150
they cant print xrp.
banks can get xrp from ripple or exchanges.
>They will enter a public crypto market (like bitfinex) and purchase the XRP from random people then sell them right back after every transaction?
yes, ej. buy xrp with usd, sell xrp for jpy, now you have jpy in japan instead of usd in the us

>> No.8523486

>>8523222
of course they can, they own the spreadsheet
also it wouldn't make sense for them not to as they would miss possible profits

>> No.8523529

>>8523486
they cant
https://www.youtube.com/watch?v=Y7fDEO15MGI
second 40

>> No.8523553
File: 277 KB, 469x452, 1516920462223.png [View same] [iqdb] [saucenao] [google]
8523553

>>8523486
Not so fast, retard. The Ripple protocol is open source. All 100 Billion XRP were automatically created at the beginning. No additional XRP can ever be created unless you do a hard fork and create a new ledger and a coin - like what Stellar did.