XRP: Understanding the Asset and Clearing Misconceptions

Published on
December 4th, 2020
Duration
70 minutes

Mona El Isa: Empowering the Next Generation of Fund Managers


XRP: Understanding the Asset and Clearing Misconceptions

The Interview - Crypto ·
Featuring Santiago Velez

Published on: December 4th, 2020 • Duration: 70 minutes

Santiago Velez, co-founder & R&D division lead for Block Digital, joins Real Vision CEO Raoul Pal to discuss all aspects of XRP -- the coin, its use cases and Ripple the company. Providing an in-depth breakdown of the XRP project, Velez covers common misconceptions and current real world use cases, explaining key differences between XRP and other top crypto projects such as Bitcoin and Ethereum. Filmed on November 19, 2020. Key Learnings: XRP has significant traction with various banking consortiums across the world, notably in Japan. XRP has its own specific use case and does not necessarily overlap with other blockchain assets' use cases such as Bitcoin. Viewers of this video will leave understanding XRP's specific use case and how this compares to other notable crypto projects.

Comments

Transcript

  • CG
    Chuck G.
    11 January 2021 @ 03:10
    The SEC announcement has not persuaded several of my friends to exit their XRP positions. I am still attempting to understand their conviction by assessing it's utility, risks, and prospects. And it's true that Ripple, Brad, and Chris have an almost infinite bankroll and access to the best lawyers as resources to fight the lawsuit. The result is not fait accompli. My current hypothesis is that the underlying tech may well have merit, but actions of the executives were sketchy / potentially criminal. It's possible that the named execs are prosecuted and the company heavily fined but still remains operational. Here are a few questions that I haven't seen addressed in these posts or in the video. 1. I see this fundamentally as the new tech XRP vs a legacy SWIFT. Will SWIFT be able to counter by improving their own technology? As the incumbent, they still have a prime position. Are they trialing anything themselves? 2. If Ripple can be used without a token for CBP (see comment below), what's the purpose of XRP? Why would cross border payment tech ever be mixed with a retail market offering? 3. What is the best way to gauge if XRP is making headway? Any honest broker dashboards to see progress? Where is XRP now liquid as a supra national currency? How many trials, how many firm commitments? 4. What is China's reaction? Seems any global solution would need their stamp of approval.
  • BO
    Brandon O.
    4 December 2020 @ 22:45
    I see a lot of people saying XRP isn't being used by every bank, so it has no purpose. Please explain to me what purpose BTC has? It's a store of value? How is something that can move 20% in either direction in one day be considered a store of value? NO CRYPTOCURRENCY IS A GOOD STORE OF VALUE AT THIS POINT IN TIME. For something to be considered a store of value, IT NEEDS TO HAVE SOME UTILITY. Give me ONE thing utility wise that BTC is accomplishing. I'll wait... NOTHING. It was first to market, kudos to the extremely early BTC adopters. Bitcoin is Netscape. Bitcoin is Napster. Bitcoin is freaking AskJeeves. You have been warned. I'm not even gonna compare the specs of XRP to BTC. XRP is clearly so much more impressive. It's basically the 1996 Chicago Bulls playing your local high school basketball team (I'll let you guess which one is which). Now time to really poke the BTC maxis... XRP IS MORE DECENTRALIZED THAN BITCOIN. Who cares if Ripple is in control of half of the XRP supply, THEY ONLY HAVE 6% OF THE VALIDATION POWER. 5% of BTC holders own more than 90% of the total value of Bitcoin. I will say that one more time for those that didn't hear. 5% OF BTC HOLDERS OWN MORE THAN 90% OF THE TOTAL VALUE OF BITCOIN !!! Not to mention how BTC miners "dump" more BTC on the markets than Ripple does XRP. Not to mention that 70% of the hash-rate is centralized in China. Not to mention the other Proof-of-Work blockchains that have been 51% attacked. I digress... I don't mean to attack the BTC maxis, but they attack XRP holders everyday with zero logic. If someone is confident enough that they can change my mind on any of the above, I URGE you to give it your best shot. :)
    • CH
      Crag H.
      4 December 2020 @ 22:54
      Brandon is on fire! Just for clarification: Who are these 5% you're talking about? Any theories? ...like wallets of Coinbase, Kraken, Binance and Grayscale maybe? Dunno, just thinking out loud.
    • PC
      P C.
      4 December 2020 @ 23:15
      5% whales are your china and russia friends
    • CH
      Crag H.
      4 December 2020 @ 23:18
      Haha, yes of course. Silly me.
    • CH
      Crag H.
      4 December 2020 @ 23:21
      Love this quote btw: "Who cares if Ripple is in control of half of the XRP supply" Never change XRP Army. Never change.
    • BO
      Brandon O.
      4 December 2020 @ 23:30
      I would rather have a trusted company with a long-term strategic plan to release that XRP, than trust China with owning 70+% of the hash-rate of Bitcoin. To each is own, Crag. I hope we all continue to get wealthy. :)
    • PC
      P C.
      4 December 2020 @ 23:32
      Ripple is FED 2.0 same families invested its operations that created FED 100 years ago. Medici. Rothschilds etc. Now just other side of familly will control the monetary system This is your upgrade . You either stay with old software 1.0 (swift etc.) or you join before your system is to old and you cant operate .
    • CH
      Crag H.
      4 December 2020 @ 23:36
      We're all entitled to our own opinions, but not our own facts ;) Best of luck to all of you.
    • PR
      Paul R.
      5 December 2020 @ 21:23
      Brandon, I understand your points, and I hold both BTC and XRP. I fully understand the value proposition of BTC, and the fact that it has volatility now does not diminish BTC as a store of value in the long term in my view. Even after watching this video I still don’t have the same level of clarity on why specifically the XRP token has value - and I would love a straight forward answer if you are able to provide one. The only way I can see it increasing in value is through a reduction in XRP liquidity which would require substantial global adoption of XRP... If the above is true - doesn't a price increase in XRP start to destroy the utility of the token? I.e. it becomes very expensive to transact in XRP. Do you agree? What am i missing if not? Thanks
    • BO
      Brandon O.
      5 December 2020 @ 23:21
      The creators of XRP and the XRPL were originally developers on the bitcoin blockchain. They branched off because they sought to create a "better bitcoin" after realizing its technological pitfalls. David Schwartz has confirmed this. XRP is being positioned to be a bridge asset for all currencies, and all assets (this is the most straightforward answer I can give in terms of XRP's value, no other crypto is being positioned this way). I do agree the price of transacting in XRP will increase if the price of XRP itself increases, but it's hard to tell by how much, given the XRPL has never been close to maxing out its full network capacity. In 2017, the price of XRP rose almost 60,000% and the fees to transact were still just pennies on the dollar. Bitcoin's fees were roughly $50 to transact in 2017, and settlement time got as bad as 48-72 hours. A price increase in XRP will NOT destroy the value of the token. If you were sending $1M and the price of XRP is $1, you would need 1M XRP to transact. If the price of XRP was $1M, you would only need 1 XRP. It is still unclear what the fees will be when XRP becomes a double-digit, triple-digit, even quadruple-digit price, that story hasn't been told yet. But after the 2017 explosion showed very little impact on the XRPL, I personally don't think the fees will ever come close to destroying XRP's value. Clearly the dramatic increase in bitcoin fees/settlement time didn't destroy bitcoins value, yet...
    • CG
      Chuck G.
      11 January 2021 @ 02:00
      Brandon, I have seen this attitude with other people and I'm baffled why the XRP Army needs to bash Bitcoin to advance their agenda. And it seems you haven't investigated why major UHNW investors Paul Tudor Jones, Bill Miller, Stanley Druckenmiller and credible institutions including Mass Mutual, MicroStrategy, Square, and more all believe Bitcoin is a valid SOV. This erodes your credibility for anything else you say. I'm interested to understand XRP and get past the FUD. I'd like facts concerning XRP, not FUD about BTC.
  • JR
    Jack R.
    3 January 2021 @ 11:04
    Thank You! for this excellent video and a practical outlook. Much appreciated. Could you also make a similar video on stablecoins? I find them confusing as...If they are backed by fiat, then won’t they face the same disadvantages?
  • CH
    Crag H.
    23 December 2020 @ 16:29
    Further down (on the 5th of December) I wrote this: 1. Pay company X in XRP to become a "partner" to Ripple. 2. Make a public announcement stating that company X is now a *customer* to Ripple. 3. Sell XRP to unsuspecting retail investors expecting a price rally. 4. Repeat. HOW MANY LISTENED???
    • TF
      THOMAS F.
      31 December 2020 @ 11:15
      isnt this a legitimate strategy to grow liquidity? Why would companies sign up without the needed liquidity? They are selling XRP to retail to grow the network. You dont have to invest, go on to the next project.
  • TF
    THOMAS F.
    31 December 2020 @ 09:17
    refreshing to hear this view. I never hear forward thinking views from the Twitter BTC maxi's, only BTC GOES UP DONT QUESTION IT. XRP appears to be attempting to seriously address a real-world issue and are doing a great job. I'll be buying the hell out of it even with the SEC business going on.
  • DB
    Drewe B.
    30 December 2020 @ 20:22
    Can't wait to see Raul do an interview with hederahashgraph and hbar.
  • JH
    Joel H.
    20 December 2020 @ 01:50
    Excellent. Anytime RV can do a deeper dives into different types of cryptos it is really appreciated. Thanks for this!
    • AH
      Aarona H.
      30 December 2020 @ 10:12
      Ripple is not a crypto currency. It’s centralized and has no blockchain. RV should have “educated” its audience about this shittoken but they didn’t.
  • SK
    Sri K.
    7 December 2020 @ 14:30
    Keep XRP on the exchange to avoid the wallet fees and dump it in the next guy. Simple.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:10
      The offline wallet "fees" are current set at 25 XRP, or ~$15 USD equivalent and are related to creating a native wallet on the XRP Ledger. This is to ensure the network can't suffer a Sybil attack and is an essential component of security. Leaving your digital assets in any great quantity on a exchange is inadvisable as you expose yourself to a centralized hack. Simple.
    • SK
      Sri K.
      28 December 2020 @ 23:18
      This is exactly the reason why (see Coinbase's decision to suspend trading in Jan. 2020). This is not some intergenerational asset to keep in cold storage. Sorry for the newcomers that were lured into this.
  • AW
    Aaron W.
    28 December 2020 @ 22:47
    https://blog.coinbase.com/coinbase-will-suspend-trading-in-xrp-on-january-19-2e09652dbf57
  • JH
    Jasmin-Jeannette H.
    26 December 2020 @ 12:47
    Thank you for the interesting content! I have been thinking about the future role of banks in this context as well. Here‘s my hypothesis: Central banks are not going to issue retail CBDCs (for now) but instead issue wholesale CBDCs to be used between licencsed financial institutions & service companies (i.e. banks). What that does is: it eliminates the counterparty risks between these institutions (think interbank lending during financial crisis...). Instead the central bank is their counterparty. Those banks and other licensed institutions can then use wholesale CBDCs to create their own stablecoins in a relation of 1:1. Think: USD JP Morgan Coin but also EUR Deutsche Bank Coin, etc. So the bank stablecoins are kind of like fiat currency but instead they are in digital form (with all efficiency, transparency and security benefits this entails). And because they are backed 1:1 with wCBDC there is no counterparty risks from other banks. This is the „new breton woods moment“ that IMF has been talking about recently. The central banks have no interest and no resources to provide retail CBDC directly to consumers. ECB and BIS documents even state this openly. Instead, regulated stablecoins from licensed institutions would service the consumers. Some bank consortiums may choose to use one network and stablecoin but still you would have a multitude of different stablecoins from different issuers and linked to different wCBDC/currencies. It is very unlikely that every pair of those stablecoins would have a direct interface or corridor. Enter XRP: It could not only bridge fiat currencies in cross-border payments but also bridge the multitude of Bank stablecoins. Thus creating interoperability between all those enterprise networks. What do you think? Too crazy?
    • JH
      Jasmin-Jeannette H.
      26 December 2020 @ 13:00
      Oh, and yes I know about the SEC lawsuit. But nothing is final and this is only the US. XRP has already been categorized as non-security in European and Asian markets. Happy holidays from Germany :-)
    • CH
      Crag H.
      28 December 2020 @ 17:57
      Anyone even thinking about investing in XRP is crazy. Why invest in a company run by crooks?
  • JL
    Jason L.
    23 December 2020 @ 16:59
    RV could do a much better job distinguishing between companies and tokens. Ripple Inc might have a future. XRP might have a future, too. One has a cash flow. The other does not. With any token, you must evaluate it on its own merits. With XRP, you need to have 100% trust in Ripple Inc. Now we see the problem with this. Ripple Inc, ultimately, can succeed in pivoting to a successful strategy. To date, a big part of the Ripple financial strategy came from liquidating its massive XRP reserves. Makes sense for Ripple, not so much sense for anyone holding XRP. Buying XRP does NOT EQUAL buying a stake in Ripple. The further one goes out on the risk curve with tokens, the more one should look at investing in the company instead of the token.
  • CH
    Crag H.
    23 December 2020 @ 16:33
    Also: Shame on you RV for trying to legitimize Ripple and XRP. Step up your game or get out of it.
  • AW
    Aaron W.
    23 December 2020 @ 04:35
    https://www.sec.gov/news/press-release/2020-338
  • MW
    Mathew W.
    8 December 2020 @ 00:38
    Nano has the same properties as XRP but is free to use. XRP use case is outdated and not unique or competitive.
    • MW
      Mathew W.
      8 December 2020 @ 00:46
      How much of the volume on XRP are for zero value transactions?
    • AF
      Alan F.
      20 December 2020 @ 03:15
      Agree and love Nano's tech but unfortunately it has zero liquidity depth and cannot be used at scale. Its taken years of extremely hard work on Ripple's behalf to show customers how XRP saves them time, money and currency risk. It takes much more than superior tech to bolster adoption and Ripple have a capable team bolstering that adoption of XRP. Stellar is another example of similar tech without strong global leadership working to bolster adoption. My money is on XRP but time will tell. Its still very early.
  • TR
    TIM R.
    13 December 2020 @ 19:13
    I believe a Spanish and German Bank are looking at BTC ETH and XRP will wait and see if approved and actually happens. I hope so !
  • JG
    John G.
    8 December 2020 @ 01:27
    I think one of the key things that was slightly glossed over in this interview is the fact that the node operators/validators are essentially hand-picked individuals/entities. You or I as an individual/business, anonymous or otherwise, cannot simply spin up a ripple validator and start meaningfully participating in the network without permission. This means that effectively ripple is not censorship resistant and therefore an abysmal reserve currency/store of value in any shape or form. So what are we left with? A mildly decentralised (to be generous) payment rail? We know payment rails do not capture a lot of value in comparison to stores of value and then we also need to factor in the competition ripple will face from CBDCs and future innovations in consensus algorithms that may allow for truly open and decentralised versions of what ripple is trying to achieve. Will ripple pump like a maniac in this upcoming market and make some people a lot of money? Probably. Will it succeed meaningfully in any of it's current goals? I highly doubt it.
    • SV
      Santiago V. | Contributor
      8 December 2020 @ 21:42
      Although the average guy can't compile and run XRP.exe on their home PC, which I think is what you are slightly alluding to, it's is not true that you have to be "chosen" by Ripple to be on a dUNL. You do need technical expertise in running server / enterprise grade equipment and have technical know-how to achieve this task but you don't need to be in a "club". That being said, you also need to be engaged with the community of other validators so that they decide to add you to their respective UNL so that ultimately there is enough domain overlap to arrive at consensus without just being your own universe of transactions. This may seem fuzzy but is actually a form of vetting that assumes in the game theory people want to verify their own transactions and make forward progress. I intend to do exactly this in the near future with help from others (non-Ripple) that have been successful at it. I'll let you know how it goes. XRP is censorship resistant unless a majority of the network of participants decides to censor a transaction or change the rules of governance, just like any other consensus system (which by the way includes PoW systems like BTC / ETH, etc.). The difference isn't absolute immutability, it's probability of change, which is low with large number of participants like in PoW. This is not a guarantee, just a high confidence. It's important to realize that code abstractions, by virtue of their nature, are impossible to be immutable and anyone that tells you differently is trying to sell you something. On the point of payment rails not capturing as much of SoV? This is categorically and objectively false. The entire market cap of gold, the OG of SoV is ~ $7+ Trillion, while the FX market is upwards of $5+ Trillion per DAY! It's not the same category class so comparisons are meaningless. Totally different use cases and markets. CBDCs do not ameliorate the problem that bilateral arrangements do not scale (they follow a complexity function of O(n^2), or non-linear pairings, Networks DO scale because they follow O(n) and enable multi-hop capabilities over multiple pairings. This is 101 of Metcalfe's law of networks, so CBDC pairings between currencies, say USD/EUR may be very liquid and useful (no argument) but CBDC USD to 130 different currencies may not be and presently isn't for the majority of the world's market. That's a pretty open TAM.
    • JG
      John G.
      9 December 2020 @ 01:45
      Well, firstly Santiago, I do appreciate the time and effort here you’ve taken to responding to all of these comments including mine, so thank you! My comment was deliberately somewhat simplistic so as to be easily understood by people new to this space and quite frankly to act somewhat as an antidote to what I felt was a overly positive assessment of XRP. My rebuttals here are quite simple: 1. Let’s put hardware requirements aside, which already excludes most people from participating, and focus on the UNL. You need to be accepted by existing validators as you yourself said “so that they decide to add you”. I don’t really care how one wants to spin this but this is indisputably not a permission-less network and by extension of that very clearly not censorship resistant. You can argue about a spectrum of censorship resistance but honestly I find this somewhat irrelevant when we are talking about a global reserve currency. We don’t want “kinda censorship resistant” we want the absolute best you can get, that’s not XRP. 2. You are comparing market cap vs daily volume. Value capture does not equal network activity. TCPIP has a tremendous amount of protocol usage yet how much value does it capture? Zero. Visa cleared $9 trillion last year with a total revenue (value captured) of $23 billion. IF institutions en masse are willing to look past XRP’s level of centralisation across multiple areas (which they wont) then XRP could have a tremendous amount of daily volume but this doesn’t mean it will have anywhere near the market cap of BTC or even gold for that matter. Not to mention the fact that if it is going to act as some sort of exchange currency then a fixed value is necessary which XRP wont have until it achieves a critical mass but this begs the question of how does it reach that size without proper institutional adoption which it wont get until price volatility reduces.... chicken and egg situation imo. I suppose only history will tell.
    • SV
      Santiago V. | Contributor
      10 December 2020 @ 18:18
      Agreed, time will certainly dispel any doubts one way or another.
    • AF
      Alan F.
      13 December 2020 @ 00:50
      Regarding your last comment, @john G. I believe you are free to choose your own DUNL if you don't like the one's provided. Of course, the validators chosen in the DUNL are their based on their history and merit. In fact, Ripple have consistently decentralized the system more and more with a particular emphasis on this since mid 2018. Check for yourself, they control less than 5% of the network. To your second point, its been dispelled by David Schwartz many times. The reason why the price volatility of XRP is not an issue for the tokens utility is because in an ODL transaction using XRP as a bridge currency the customers are only exposed to that price volatility for approximately 30 seconds. And 2 years of real world data and utilization have proven that this amounts to significantly less FX volatility exposure than a legacy SWIFT transaction which takes days to settle on less volatile currencies. The fact is that the most recent data is showing an increase in volume across the ODL network for live, real-time payments. Will this increasing utility amount to an increase in value for XRP? What kind of increases can we expect? I can't honestly say anything more specific than MORE. Not many are probably aware of this paper, co-written by Susan Athey who's on the board at Ripple. TLDR: if XRP fulfills its intended purpose than she estimates its utility value between $6-32. I don't know enough to argue for or against her logic. And thats not taking into account certain parties choosing to hold XRP which as we know could add a large multiplier to these figures. https://s3-us-west-1.amazonaws.com/fundamental-valuation-framework-for-cryptoassets/A+Fundamental+Valuation+Framework+for+Cryptoassets_June+2018.pdf
  • PP
    Ptolemy P.
    12 December 2020 @ 00:12
    I cant help but get distracted by all the lip smacking. Santiago needs to drink water. Raul had a point that Santiago missed which was if total supply is 100B and they are holding 50B cant they effectively manipulate the price buy dumping or burning xrp? XRP seems like its 500yrs away from its moment of fruition.
    • DR
      Derrick R.
      12 December 2020 @ 18:22
      That point was answered, in depth..
  • TP
    Timothy P.
    11 December 2020 @ 17:10
    This is too good - someone believes the meme/joke of "Rapple" (Apple supposedly partnering with Ripple) and recommends people pile into this trashbag of a currency -- https://twitter.com/ercwl/status/1335881403423186944 That would explain the recent interest, beyond the gullible being sucked in from RV infomercial, that is.
  • TA
    Thomas A.
    7 December 2020 @ 16:45
    Great conversation! I would like a follow-up conversation about FXRP (SPARK on the Flare network) and how it allows Smart contracts to run on the XRPL. I am new to the concept. Thanks!
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:08
      I will be interviewing Hugo Philion CEO of Flare Networks very soon to discuss smart contracts for XRP. Standby!
    • TA
      Thomas A.
      8 December 2020 @ 18:01
      I know there are a lot of Exchanges that will "Support" the Spark Airdrop, but I am not aware of any exchanges that have come out to say that Spark will be available to trade. Is there any way to find out which exchanges will allow us to BUY Spark shortly after the Airdrop? I have googled for days and days and I cannot find any Exchange that has committed to allow Spark to trade on their platform. If you have any connections on the exchange I would really appreciate some help finding an exchange to buy Spark on. We must be able to buy Spark or it will have no value. Thanks :)
    • SV
      Santiago V. | Contributor
      8 December 2020 @ 21:51
      @Thomas, I don't know and it will probably depend a lot of the regulations of each jurisdiction that the exchanges service. I will ask if there is a support list for the actual distribution. At a minimum we know that the listed exchanges will support providing Flare Networks with the snapshot data of the XRP holdings for their account holders. This is because exchanges are like apartment buildings, one address with lots of units (tags), versus private wallets that are a separate addresses.
    • TA
      Thomas A.
      9 December 2020 @ 17:44
      @Santiago V. I have found some information about Spark and Bitrue but I am not sure how to frame the question except to show how I found it. On Bitrue, scroll to the bottom and click announcement, then search for insure, click the article about the Bitrue Insurance wallet then scroll down and click on the Bithomp link for the XRP wallet then click on the transaction, Flare Address Added, see the value. Does this value represent the value of Spark in this transaction? and Does this indicate the exchange will trade Spark? If these instructions are not clear I could send you an MP4. Thanks, TEA
    • TA
      Thomas A.
      9 December 2020 @ 21:35
      @Santiago V. Just found this. :) Bitrue will offer Spark for trading before the end of the year! https://bitrue.zendesk.com/hc/en-001/articles/1500000229441-Spark-FLR-Trading-Will-Open-End-Of-2020
    • TA
      Thomas A.
      11 December 2020 @ 16:09
      @Santiago V Could you ask the CEO of Flare how Eth 2.0 impacts Spark?
  • WE
    What E.
    8 December 2020 @ 23:21
    Please don't take advice from this guy on crypto, he has only a very simplistic understanding of what he is talking about. The second you dig deeper, half his statements turn out to be false or at least partially incorrect. Real Vision should be reaching out to technical experts, not fund managers. What a waste of time listening to this video.
    • DR
      Derrick R.
      10 December 2020 @ 00:22
      Hit us with the truth, big shot
    • SV
      Santiago V. | Contributor
      10 December 2020 @ 18:16
      This one hit me in the "feels". LOL.
  • PK
    Paul K.
    10 December 2020 @ 03:54
    Great interview! I was wondering if Real Vision could interview Ripple CEO Brad Garlinghouse or David Schwartz, I think it would add additional insight into what problem they are trying to solve and where they think they are in the process, thanks again for they interview
  • WE
    What E.
    8 December 2020 @ 22:47
    This would have been far more credible if you had an educated person on the history and present state of XRP to debate all the pink colored glass perspective of XRP. The history of XRP is full of very bad decisions, extreme greed, total shit design concepts, catering to banks (the anti-thesis of public cryptos), and so on. Even today, a small group of people own 60% of all the coins, 90% of their partnership announcements are hype marketing with no substance and even extremely shady claims, and yeah semi-KYC nodes, because their consensus is too weak from a computer science perspective. These are just *some* of the reasons why so many crypto OGs consider XRP a steaming pile of garbage on fire.
    • DR
      Derrick R.
      10 December 2020 @ 00:23
      If their consensus is so weak why don’t you hack it and make billions?
  • MS
    Mo S.
    9 December 2020 @ 07:28
    Great interview... I am right there with Raul, the space is super fascinating and in a universe of clusters and supercluster, you never know which project is going to become the next star or moon, as the asset class expands projects will get niched out and some will die. I will be making asymmetrical bets on projects with potential. This is the hunger games of blockchain technology, may the odds be in each project's favor.
  • MW
    Matt W.
    9 December 2020 @ 01:09
    Thank you for this. It convinced me I never need to think about ripple again
  • GA
    Gerald A.
    6 December 2020 @ 06:58
    Aside: The worldwide "Green New Deal" will be a great thing for Bitcoin mining costs because nearly infinite amounts of natural gas will become stranded. Sovereign Bitcoin mining in countries with stranded natural gas reserves will become a thing (along with carbon capture and storage, putting the CO2 right back into the formations the natural was drilled out of). Plus, one will also get all the trace bypoducts like ethane, etc. which are critical to the petrochemical industry, and hydrogen (for the aforementioned green new deal). Countries with stranded natural gas are not just going to let it sit in the ground when they can turn it into money by securing the Bitcoin and other blockchain networks.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:37
      Are you on the right thread? This is a discussion about XRP but I feel like you feel the need to bring up the economics around bitcoin mining. That's weird or confusing.
    • GA
      Gerald A.
      7 December 2020 @ 22:04
      XRP proponents were repeating throughout the comments about the costs of Bitcoin mining. I was just refuting that specious argument. The more faux green energy that gets used, the cheaper it will become to mine bitcoins because of stranded natural gas.
    • SV
      Santiago V. | Contributor
      8 December 2020 @ 21:56
      No argument there Gerald, simple demand for a fungible resource that are voltage driven electrons! How you drive that voltage and current is immaterial. I will say though that electricity markets are fungible, so utilizing renewables exclusively for Bitcoin does mean you are NOT utilizing it for some other activity assuming a balanced grid. I'm not moralizing this consumption though because that's hypocritical in comparison to other human activities. I've written a concise thread on this reasoning here: The Problem w/ Moralizing Energy Consumption & Bitcoin https://twitter.com/Santiag78758327/status/1232487714706141190?s=20
  • KS
    Kevin S.
    8 December 2020 @ 01:05
    Thank you for this great conversation Raoul and Santiago! I'd heard of Ripple before and its function of cross border payments, but the missing piece for me was the how and why XRP is better than the existing payments system which you addressed. Would love to validate my understanding to ensure I got the main takeaway. If I understand correctly this is the how/why XRP is useful: In a hypothetical example, if I travel from the US to Japan and want to have Yen I typically use my debit card at the airport to get cash from an ATM. If I want to pull $500 USD in Yen on the back-end, as it works currently, my bank and the Japanese bank who owns the ATM have to exchange and/or hold dollars and Yen to make this work. With Ripple my bank could send Ripple to the Japanese bank when I make a withdrawal of Yen; my US bank would send the dollar equivalent value of Ripple to the Japanese bank. This is advantageous to banks because they only need to hold Ripple, instead of a bunch of other currencies which reduces currency exchange risks. As an investor, the opportunity is that as banks and other financial services buy XRP for this purpose with the fixed supply the price of XRP could go up. Is that a fair understanding?
    • NC
      Nelson C.
      8 December 2020 @ 04:32
      Pretty correct Kevin. Banks do not necessary need to hold XRP (they can purchasing it and selling it on demand) but holding it and transferring between your clients in Japan and US would be already an advantage if the bank does not owns the exchange (because of small but multiple fees). But there is more. Would the bank hold XRP with a fix supply or a basket of different currencies that grow over time? What about corridors in developing markets? Who would like to hold Argentinean peso, for example? What about retailers, normal people who often send part of their savings abroad? It is possible that part of their savings are better allocated in XRP than in their local/foreign currencies. XRP may be a moon shot because it has utility and could be used as a store of value. I guess it will depend on adoption. On top, Ripple the company is actively trying to create more use cases for xrp. Moreover, Spark will bring smart contracts to XRP. That is why XRP is a dangerous rival for many other cryptocurrencies and why it is so hated in the crypto space.
    • SV
      Santiago V. | Contributor
      8 December 2020 @ 21:49
      You are correct Kevin, the main advantage of holding a supra-national digital asset as a proxy for value is that it offers scaling across a network of currencies so that holders can save on illiquid pairings, hedge FX risk, etc. This value proposition is not fully realized until XRP is liquid in a sufficient number of pairs globally to realize global network effects. Treasury management for cross-border then becomes very simple because you no longer need to hold potentially 130 currencies, just 1. For now, the performance aspects of XRP with respect to fast settlement times and some degree of liquidity in certain markets (Phillipines, Mexico, USD, Euro, Japan, etc.) allows for the transfer of high volume / low value payments. As liquidity grows in the XRP market (from fixed supply) the network will be able to facilitate high volume / high value payments across a broad range of currencies to realize it's full potential. This takes time and many markets globally that offer "coupling" in the form of exchanges between local fiat markets and crypto markets.
  • BW
    BENSON W.
    8 December 2020 @ 07:18
    Thank you Santiago and Raoul for this interview! I just started watching these videos and will continue to do so. I would like more disclosures in the future - who is Santiago Velez (I have no idea) and more importantly, what are his ties to Ripple and what makes him an authority on the subject, and what are his motivations in relation to XRP? There is also a lot of value in this because you get the interview and then you have Santiago actually taking the time to read the comments and answering questions - it is much appreciated and hope I see some of this in other video interviews. I still have a lot of reservations about XRP but I'm excited to see what the next few years looks like for this space.
    • SV
      Santiago V. | Contributor
      8 December 2020 @ 21:31
      I'm just a guy on the internet that has done his own research and am sharing with Raoul, really! I don't receive compensation from Ripple or any of it's associated companies or partners, either directly or indirectly. I don't receive compensation from Real Vision, or anyone on their staff or associated funds or insiders. The beauty of open, permissionless platforms is that anyone can become "an authority", at least with respect to the public information that is readily available and that can be compiled over time. To be a true authority though, one would have to explore the code base of the XRPL and study the technical evaluations and studies done in regards to it's consensus methodology, which I've done at a superficial level (more than most but still not code inspection). I'm glad you are approaching this open minded and recommend continuing to do your own research behind any digital asset including the communities, the technology, the markets, monetary policies of each, code base, and companies building on it that make the most claims. Good fortune!
  • SD
    Seth D.
    8 December 2020 @ 12:15
    Santiago is a world-class explainer! Great stuff!
  • SP
    Sat P.
    8 December 2020 @ 10:08
    This was so informative. I bought some XRP a few years ago for speculative reasons. However, this really helped me to understand it's use case better than anything I've read. Thanks Raoul and Santiago!
  • DJ
    D J.
    5 December 2020 @ 04:04
    For anyone who has an understanding of the technicals. BTC 21 million@ 8decimal places XRP 100billion@ 6 decimal places XLM 55billion@ 7 decimal places ETH infinite @ 18 decimal places VET 86 billion@ 18 decimal places Its important to note that 1BTC (or unit XLM, XRP, ETH )is a "pie" but how many parts it can be sliced into will give you the true quantity. Keep this in mind when quantifying value ratios
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:24
      Excellent comment! Precision in conversation is everything. Thank you!
    • JC
      Jason C.
      8 December 2020 @ 03:04
      I was going to say that the number of decimal places could be expanded, but then they might as well just issue more coins instead, and that (as of today) would cause people to chimp out
  • AC
    ASHISH C.
    6 December 2020 @ 00:05
    Been following XRP for last 4 years, it's use case / utility, Ripple army of 500+ engineers, working with 40+ central banks around the world. This video of 1 hr is excellent / fair compilation of XRP by Santiago. XRP is on something big. Thanks Raoul for open mind.
    • cd
      chabu d.
      8 December 2020 @ 00:44
      Me too, and look where we are now. I am almost convinced that XRP solution is already dated circa 2014 solutions. Cross border transfers are now a reality without using XRP. I think XRP in its current form is slowly going into obsolescence. Still holding my bag up until the airdrop, then I will decide if I would hold on to it or let it go. Right now I'm leaning to the latter.
  • RD
    Rick D.
    6 December 2020 @ 05:12
    Wow... looking through this comments section makes me regret RV opened up the Crypto tier to everyone. I never thought I'd say that; but it's turning in to crypto reddit (not a good thing). There are a *suspicious* number of people in this section (talking specifically about how great XRP is) relative to the total comments in any other video on Real Vision. Something's fishy. The video was alright, but I would really like for Raoul to answer more hard-hitting questions in these crypto interviews. It feels like they're becoming advertising more than anything else, where people come to pitch their crypto content. I guess that's why the Crypto tier is free, RV is just getting paid at the other end.
    • RD
      Rick D.
      6 December 2020 @ 05:18
      I absolutely love Real Vision, don't get me wrong. It's been life changing (and I don't say that lightly). But I have been starting to question the coin-specific "Crypto Tier" content. This video's comment section was just the nail in the coffin for me (and not even anything against XRP specifically, just these comments). It seems less educational (investigative questions, etc.) than regular RV and more of a "Tell all our subscribers about your platform while we ask basic questions." I totally understand it's not easy to have a balance there too, but maybe try correcting in the other direction. Just one person's opinion.
    • RD
      Rick D.
      6 December 2020 @ 05:24
      Thinking about it more, it may not even be so much Real Visions fault, but instead an indictment of the tribalism of the crypto space as a whole. I only started paying attention when Raoul began bringing it up over the summer, and really respect his and Julian's opinions and took a look (since their views differ somewhat [but I guess not really]). So maybe I'm missing something, but idk.
    • GA
      Gerald A.
      6 December 2020 @ 06:44
      When a "product" is free, the "user" is actually the product. The customer is who is paying. While the crypto channel is free, one should expect that the content will be explorational and more of an educational overview, rather than deeply analytical (because of who the real customer is...i.e. who is paying, and who the product is, i.e. us). At the stage where most of us are in crypto knowledge and experience, this is fine. This is a great benefit to us, even though we are the product. But at some point, for the crypto channel to reach its full potential, it will have to flip the current model and make us the "real" customer with a subscription fee.
    • RD
      Rick D.
      6 December 2020 @ 23:21
      I don't necessarily disagree, but where I think we differ is with your quote; "When a "product" is free, the "user" is actually the product." The viewers are the product. They are selling this product to people who come on here to pitch their coin/currency/company or whatever to a (mostly) new audience to crypto. That's fine, until you get to the conflicts of interest. When I watch any other RV video, it doesn't matter if someone is the biggest gold-bug out there (for example). They have very little monetary upside, especially given the upside, if a percent of viewers go buy their fund. With crypto it's different. The markets are smaller, the information is less available, and the people being interviewed often stand to gain much more than a traditional finance person would in a similar position (hedge fund manager, gold mine operator, whatever.). It'll be a tricky rope for RV to walk, because on one hand you want to get this information out there, introduce people to new projects, etc. On the other hand, you need to be more careful about introducing opposing viewpoints etc. and making things seem more balanced, otherwise people will just say their currency is the best thing since sliced-bread. I say all of this as someone who knows next to nothing about crypto. Cool, XRP is a thing. Cool, ETH sounds neat. BTC, digital gold, irresponsibly long, etc; alright, I'm hyped. All I've seen recently have been benefits how it's great, how it'll save money; but much less on the hurdles, risks, etc. that the project faces. And maybe this is all planned by RV, which would be awesome and wouldn't surprise me because they're smart.
    • kk
      kevin k.
      7 December 2020 @ 06:21
      @Rick D. I feel like I can answer your question... Ripple is full of fan boys. They have a strong presence online. backed by nonsense. If you do a deep dive you will understand the value of crypto much more. In short, here are the top 3, IMO; BTC; The OG. Proof of concept. Store of value. Think; Gold in the stock market (no "real value". Reference the history of currency). It's kind of like the digital version of stuffing dollars under your mattress. ETH; Web 3.0. Imagine How a debit card works. Imagine how you process something like an online payment. Now Imagine all of that energy (think; electric costs, accounting labor, and software development etc) is proccessed by PoS on Ethereum (not Pow like BTC, and Like Eth1.0 like this tool in the video references). Ethereum is like WiFi. Or 5G. Its the base layer for everything. XRP; A centralized version of blockchain tech. The good thing? speedy tx (thanks to a consensus algorithm) So in practice, all of this can exist on the ethereum blockchain. However, smart contracts cannot exist on xrp or btc. That is the real catalyst.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:55
      @Rick D. Your intuition is correct. Much of the interviews on the channel center around highlighting a specific product, project, team, or value proposition. For me personally I'll be fully transparent. I receive zero (0) compensation from Real Vision, Ripple, or anyone else for my comments. I do own XRP just like I own BTC, ETH, and many others because I do believe that via education we will get adoption, adoption will bring price appreciation, and my investments will do well. That being said, I do believe in the things that I invest in and plan to build on those aforementioned ecosystems so that we can realize a currency agnostic Internet of Value, which is what bitcoin should have been but can't be.
    • MT
      Michal T.
      7 December 2020 @ 21:31
      kevin k you are wrong. Smart contracts will also be on Ripplenet. There is an airdrop of the spark token to be used, which will be on Ripple's blockchain and help, and it will transfer smart contracts to Ripplenet (they will be faster and cheaper) even, they will bring smart contracts to bitcoin as well. In fact, it's a big hit for DeFi and Ethereum POS .. Everything will be transferable to Ripplenet
  • CH
    Crag H.
    4 December 2020 @ 23:33
    1. Pay company X in XRP to become a "partner" to Ripple. 2. Make a public announcement stating that company X is now a *customer* to Ripple. 3. Sell XRP to unsuspecting retail investors expecting a price rally. 4. Repeat. But yeah, Santiago has definitely a point when he says: "I'm not gonna make judgement as to whether or not they should be the beneficiary of, you know, the XRP".
    • AW
      Aaron W.
      5 December 2020 @ 08:35
      Bingo
    • JD
      John D.
      5 December 2020 @ 10:12
      Few understand this
    • MT
      Michal T.
      5 December 2020 @ 18:01
      it is not like that. Ripple sells XRP at market price and the institution would only devalue its finances in the long run. In addition, the validators would take Ripple XRP if it did not sell it transparently at market prices
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:29
      If they cultivate they system they should likely be the beneficiary, along with everyone else that supplies fiat "liqudity" to enable it as a utility function, something Raoul agreed with in the interview. This is like saying, pay BitMain to make ASICs, make a statement that party X is mining Bitcoin, mine Bitcoin and sell it to unsuspecting retail investors that think it's the next world's pristine collateral. Repeat. All ecosystems have early beneficiaries that foster adoption and extract value, venture capital is literally the space. The difference is whether or not the relationship is parasitic or symbiotic, obviously you believe it's parasitic, but I and many others do not. We all choose our own risk.
  • HS
    Hafid S.
    4 December 2020 @ 23:37
    Xrp started on 01/02/2013 :)
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:26
      Here's a nice history to supplement dates: https://xrpcommunity.blog/a-history-of-xrp-ripple-part-1-2011-2013/
  • AP
    Alex P.
    5 December 2020 @ 04:39
    Santiago what are your thoughts on BSV’s capabilities in comparison to XRP?
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:23
      BSV, like any digital asset that has a market value, can be used for a wide variety of use cases. The value proposition into the future is all around community, solving problems, and continued development. It's a competitive process but it's not zero sum as maximalists would have you believe. We don't even have that in fiat so that's an objectively false paradigm.
  • SS
    Siddharth S.
    5 December 2020 @ 09:27
    I have been working with a designer in India for over a year now. I pay him in Tron - TRX. My payments go to him once a month. I call him and fix the number of TRX against the rupee and transfer it to him. He gets it in 2 seconds. The guy converts it to Rupee on Wazirex and we are all happy. Not sure what's the need to work with XRP when I get to use any crypto out there...Even Litecoin can be used...actually even Bittorent....
    • JD
      John D.
      5 December 2020 @ 10:10
      Totally, anything with high enough liquidity on both ends can be used.
    • JV
      Jerry V.
      5 December 2020 @ 14:24
      That is great to hear you found a solution to both parties agree upon - however not every one will want to use the same asset - XRP is just another choice.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:20
      Agreed. Anything that has a market supply / demand and is supranational can facilitate value transfer. The real trick is to get it liquid in many markets so that you can scale globally for network effects and multi-hop (going from multiple currencies in a single transaction). The latter process takes time and effort, and therefore groups of people coordinating to make it happen in a lot of jurisdiction. That's the value of Ripple's stewardship.
  • VM
    Victor M.
    5 December 2020 @ 14:24
    Amazing content, confirmed all the feelings I have had on Xrp since I got involved with crypto a year ago. I have been very bullish on it since in discovered Ripple because I believe in their utility, had a great year with xrp as of today. It would have been interesting to talk a bit about the Flare partnership, I think its also something a bit under the radar, a lot of people think the airdrop of Spark tokens to Xrp holders (the token issued by flare) is just "free stuff", and that prices will pump before a big sell off, maybe... let us never underestimate greed, But as it was said during this interview, on a larger picture, a lot of xrp's value comes from its adoption, therefore, use cases. And if I'm not mistaken, its precisely what Flare brings to Ripple and the overall Xrp ecosystem, more use cases. And the airdrop is an amazing gift to people who share their project, if they pay attention, even as an individual, Ripple offers you the chance to participate in a all new platform, from release, however you see fit (sell your tokens, stake them or learn how to use them to be useful in a network, develop your own app...). It's something quite special in my opinion, even without going into the potential speculative aspect of it, its a big move from Ripple, few companies behave this way, they look indeed like they're pushing in a direction that has the network's best interest in mind. And well, x3 from an entry point is also a decent sign. Looks good, smells good, tastes good, why discard it ?
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:17
      We will be interviewing Hugo Philion, CEO of Flare Networks on Real Vision very soon. Standby!
  • EJ
    Eddie J.
    5 December 2020 @ 17:26
    15 mins in, the difference is bitcoin has to have consensus to change, where XRP doesn't, it just needs the founders to do it.
    • BH
      Bruce H.
      6 December 2020 @ 15:39
      Not true. Ripple has no more sway of changes than any other nodes or validators. Everything is voted on. Ripple does not "own" the XRP blockchain. A recent example by the Ripple founders: https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/ripple-cto-says-majority-vote-120358626.html
    • kk
      kevin k.
      7 December 2020 @ 06:03
      Bruce H. you are a fool. They say it right in the link you provided; -Ripple’s XRP sales have been declining after Ripple stopped selling tokens to exchanges. The escrow account held approximately 48.9 billion tokens at the start of 2020. -As there are currently 45.3 billion tokens in circulation, a sudden release of a sizable portion of those escrowed tokens could cause the price of XRP to plunge. There were 100B ripple ever created... In other words, the founders own 49B of ripple. More than 50% pf what's in circulation (45.3B). It is a centralized asset. Exactly the opposite of what cryptocurrency stands for. Why wouldn't any reputable company, bank, etc not just create their own erc20? Ripple is a scam and, unfortunately, many people will have to learn that the hard way. With their wallets instead of their keyboards.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:16
      This is incorrect. Any decentralized ecosystem for digital assets, bitcoin, XRP, ETH, etc. requires a majority consensus change based on the underlying technology. XRP as a digital asset relies on the validators, of which Ripple is not the majority controller, just like there's no single bitcoin miner that can determine the entire chain. Where did you get this false information Eddie? Don't take my word for it, do the math. https://xrpcharts.ripple.com/#/validators
  • LK
    L K.
    5 December 2020 @ 18:25
    Is XRP a security?
    • BL
      Ben L.
      5 December 2020 @ 20:18
      Brian Brooks, OCC, stated that there will be clarity on that topic in about 8 weeks the latest he thinks. Xrp has been waiting for regulation and maybe even considered a currency.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:08
      There is an ongoing court cases against the company Ripple as to whether or not XRP is a security. The SEC has not yet brought any enforcement actions against Ripple in 8 years of use so I feel it is highly unlikely. At this point it's probably as decentralized in use / ownership as Ethereum, which the SEC has provided clarity on. I would expect similar clarity from the OCC and FinCEN as well.
  • PC
    P C.
    5 December 2020 @ 19:47
    not even mentioning SBI Asia
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:05
      Impossible to mention all the parties and relationships for those building on top of the XRPL. It would be 5 hours! the ASEAN is going to be a major driver of XRP adoption. The work being done in Thailand, Philippines, Australia, and Japan is extraordinary. FXCoin looks very interesting as well.
  • JR
    John R.
    5 December 2020 @ 22:14
    How does XRP compare to stellar lumens?
    • SP
      Saxon P.
      6 December 2020 @ 04:15
      Stellar was created by Jeff Mcaleb after he left Ripple under a cloud when he tried to install his girlfriend as CEO. XRP is more reputable than Stellar.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:04
      Similar technology (fork of XRPL), different monetary policies, stewardship of the tokens, etc. Institutional vs. retail remittance facilitation in summary.
  • JR
    Jorge R.
    6 December 2020 @ 03:22
    Excellent content. Thank you Raoul and RealVision for putting it together. Question: If FX transactions go through but are net zero for XRP, doesn't that imply no overall effect on XRP's price? And if Ripple continually sells new XRP doesn't that push XRP's price down? Is there any reason to buy XRP as in investment given these facts?
    • BI
      Brayden I.
      7 December 2020 @ 04:48
      Transaction fees aren't zero, they just cost very little. Transactions usually cost less than $0.01. The total transaction fees paid on the network per day is somewhere in the 10's - 1000s of dollars. Ethereum on the other hand is in the low millions of dollars per day in network transaction costs.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 18:01
      See my reply above about the utility flywheel effect and how the price of XRP can virtuously drive up the value of XRP as a bridge asset. The more liquidity that enters the XRP ecosystem the more currencies it can facilitate, going from a low value/high volume scenario to a high value/high volume scenario. It's like oil for the engine of money. Don't forget FX risk mitigation and slippage on both ends of a bridge transaction, holding a finite digital asset that can facilitate payments cross border can lend itself to Jevon's Paradox. https://en.wikipedia.org/wiki/Jevons_paradox
  • PS
    Patrick S.
    6 December 2020 @ 05:12
    I've re-learned from this interview that Santiago is an absolute legend.
    • AW
      Andrew W.
      6 December 2020 @ 09:37
      Or on Ripple Labs payroll?
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:58
      @Andrew I will sign an Affidavit that I don't receive any compensation from Ripple or associated companies, Real Vision, or anyone else for my commentary. I offer it up selfishly as an investor in the space and the research performed therein. I don't resent your insinuation of "shilling", I get it. It's all good.
  • TE
    Tom E.
    7 December 2020 @ 17:52
    That was one of the most educational interviews I have ever watched. Thank you Santiago. Would love to see you cover the link between Bitcoin and Tether that Nouriel Roubini seems so excited about in his attempts crash crypto.
  • GA
    Gerald A.
    6 December 2020 @ 06:24
    Won't central banks, the IMF, and the BIS ultimately use an SDRcoin on their own SDRblockchain, with on and off ramps for CBDCcoins? Shouldn't the utility token on an FX settlement international payments blockchain have a relative stable and unchanging value? Asset price inflation in a utility token is a bad thing for the users of a network. An SDRcoin will have a stable price. Central banks and global institutions will lose the ability to track and record every transaction if they do not have their own coins and network end-to-end. Without their own network and coins, central banks and global institutions would be able to automatically settle trade imbalances and weightings in the SDRcoin, and end mercantilist policies of individual nations. They could end currency manipulation by individual countries.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:50
      They could try. The internet of value is likely to usher in a new era of global currency competition. A sit down to correlate an eSDR basket would likely come with trade conditions, and those conditions are still predicated on counterparties behaving. History has shown us this is likely not a sustainable arrangement. The more likely scenario in my opinion is that public, permissionless blockchains with utility and consensus based monetary systems are more likely to enforce printing discipline by people who check out of the international order, that is largely brand based.
  • RY
    Robert Y.
    6 December 2020 @ 06:26
    So why is does XRP have value?? If it's used for FX exchange, I don't see a reason for the price of XRP to rise.
    • kk
      kevin k.
      7 December 2020 @ 06:09
      Exactly. Stable coins and DeFi completely devalue XRP. All on the ethereum blockchain. erc 20's make xrp completley irrelevant. Thats not to mention Ripples ownership of 50%+ of xrp supply. Which makes completely devalues the decentralization of a the crypto altogether.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:41
      XRP price in relation to fiat currencies rises in the same way any other digital asset rises, supply and demand, and specifically supply and demand in a particularly native currency (USD, EUR, YEN, etc.). The supply is fixed at 100 Billion. The demand will fluctuate based on speculation by either individual retail investors or institutions diversifying into digital assets. The extra component here is that as a digital asset XRP can facilitate value transfer quickly and efficiently with little loss per transaction and even more so low basis points regardless of the amount. It's also not dependent on the tokenomics of PoW block sizes or network congestions, hence it's high throughput, because it arrives at a consensus in a different way to solve the double spend problem. Ultimately what this translates to is that the value of the asset actually increases with the price because now even more value can be transferred by it. Unlike bitcoin which is a Store of Value narrative play, it's a utility play. More utility on a fixed supply high performing digital asset means higher price. Higher price enables more utility, virtuous cycle. This creates a global network effect between currency pairs, and allows for multi-hop scenarios using Interledger Protocol. It's a scalable system.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:46
      @kevin k. Stablecoins and DeFi do not devalue XRP at all, if true why is the price of XRP still rising despite the expansion of CeFi/DeFi. This is objectively a false speculative statement. What you are not appreciating is that stablecoins represent fiat, and fiat pairs do not scale bilaterally. You can't have a stablecoin that pairs with every currency on the planet, even USD fiat only covers 70% of the global denominated transactions, therefore this statement is also objectively false. With respect to Ripple owning 50% of the supply, they once owned 100% of the supply yet the value has continued to rise. Explain that. Furthermore, decentralization of compute for the validation of transactions is completely independent of decentralization of counterparty risk. 5% of Bitcoin wallets have 90% of all value so there is plenty of risk to large whales dumping , manipulating the markets. Are you comfortable with that knowledge? https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html So the real issue here is stewardship. Are you comfortable with an ecosystem's largest holders being transparent with what they do or hide behind pseudonyms?
  • AM
    Alexander M.
    6 December 2020 @ 08:58
    How long under the current escrow scheme would it take for all 100 billion XRP to be on the open market? Another 55 months?
    • PS
      Paper S.
      6 December 2020 @ 17:11
      That depends on the amount of XRP being used from the release. One missing factor that was missed, is that with every transaction that occurs, a fraction of XRP is burned from total supply.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:35
      No, as each escrow amount is released on a monthly basis, Ripple the company can either use it to fund operations, initiatives like Xpring (https://ripplex.io/), loan it (https://ripple.com/line-of-credit/), liquidate for cash (https://ripple.com/insights/q3-2020-xrp-markets-report/), or simply send it back to into the rolling escrow window into perpetuity.
  • AW
    Andrew W.
    6 December 2020 @ 09:34
    For those wondering how XRP made it on here, just know that RP has personal connections who are highly vested in it. Dan Morehead comes to mind. Layer 1 needs to be a secure money supply and monetary policy with low-throughput settlement. A scarce, reserve asset, with no conflicts of interest. All the applications, utility, speedy transactions should be networks built on top of this underlying reserve. Also: CBDCs will probably destroy whatever value proposition XRP had as a utility, and it never had value proposition as a reserve.
    • EF
      Eric F.
      7 December 2020 @ 02:56
      The crypto tier has a mandate to cover all crypto. The insinuation you make above is baseless and inappropriate.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:33
      You do realize that Dan Morehead CEO of Pantera Capital is actually developing a competitor to Ripple and XRP for cross-border remittances so your claim really doesn't make sense. My understanding is they do have a stake in Ripple the company but likely less than their own project. https://www.panteracapital.com/portfolio With regards to low throughput settlement, why? What does that criteria do except to justify the low throughput capability of Bitcoin? It seems like in this scenario only high value, low volume transactions will make sense from a fee perspective as participants compete for block space. CBDCs reflect existing fiat systems and will not destroy the value proposition of a liquid, supranational digital asset. This is for two reasons: bilateral currency pairings do not efficiently scale for 130 currencies for atomic swaps (this is fundamental network architecture, not hyperbole), they still represent the counterparty risk of the issuer (FX, inflation, interest rates, etc.). The monetary policy of XRP and other digital assets are largely fixed and known, thus the risk is lower.
  • TL
    Tom L.
    6 December 2020 @ 15:19
    Ripple is being used a lot for cross border remittances, but you do not need the XRP token, I think there is only 1 product from ripple labs that uses it (Xrapid) you can see from https://blocktivity.info/ the amount the token is being used. I noticed Raoul mentioned the Bitcoin fork but I didn't hear him talking about the XRP fork XLM and how Jed Mccaleb still have billions of XRP left to sell. Ripple labs have made some interesting systems which could replace swift but the XRP token doesn't necessarily have to be used, and I think most banks would just use trust lines in local currencies.
    • PS
      Paper S.
      6 December 2020 @ 16:55
      I would highly suggest learning about the intricacies of the complex Nostro/Vostro accounts. There is a usecase for the token. The video LITERALLY explains it out in full detail.
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:26
      This is 100% correct Tom. RippleNet, which is DLT enterprise software solution developed by Ripple the company, does not require the digital asset XRP for it's customers. This is because it's primarily a bilateral messaging system for settling corresponding banking relationships with higher accuracy, transparency, and speed than SWIFT. This is DLT for messaging and the rules of governance are decided by the users of RippleNet. Now, one of the flagship products of Ripple is On Demand Liquidity, which integrates a KYC/AML layer and XRP sourcing on exchanges, to facilitate cross border value transfers without a corresponding banking arrangement. It doesn't have to be used but it's significantly more efficient from a treasury management perspective. I'm not privy to ACTUAL savings versus their cost cutting model from when this was first devised (back then it was called xRapid instead of OLD, but the principles still apply). https://ripple.com/files/xrp_cost_model_paper.pdf
  • JR
    John R.
    6 December 2020 @ 18:17
    What the benefit of xrp vs stellar lumens
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:21
      They are somewhat competitors but taking very different approaches towards community investment and adoption, as well as different monetary policies. This is why forks are so valuable, they allow competitive experimentation to optimize for outcomes.
  • VF
    Victor F.
    7 December 2020 @ 10:53
    So its possible that ripple needs to wait for central banks to start issuing digital government/national currencies for them to be able to perform the cross-border function for individual wallets, that they were planning on doing between international private banks? or will they become a hub for international payments? would there still be a point to their original business plan, if all one needs to do is convert the corresponding digital national currency into a stablecoin, and send it as a payment to a wallet anywhere in the world?
    • SV
      Santiago V. | Contributor
      7 December 2020 @ 17:16
      Great question Victor. Ripple is presenting using their On-Demand Liquidity (ODL) product to perform cross border transfers between fiat currencies using XRP as a bridge asset. This ameliorates the counterparty risk of holding currency in a corresponding account and treasury management for FX volatility risk. The amount of money that can be facilitated in this manner is analogous to low value, high volume payments. What I think you are referring to is high value, high volume payments between large banking networks, this is more likely a use case with CBDC atomic swaps for highly liquid corridors like USD/EUR or EUR/YEN. The real goal here is to create an interoperable network wherein value can take multi-hops (with low friction) across multiple swaps (corridors). This is the most efficient form of value transfer because bi-lateral arrangements DO NOT SCALE. Stablecoins can carry two forms of risk and again require bi-lateral liquidity (so USDC may or not be liquid with respect to a Thai eBot). The first risk is issuer counterparty risk, do they have the $'s in reserve as they claim. The second is regulatory risk as to whether or not Stablecoins will be allowed systemically without the permission of the issuing nation. This is a very real risk. You assume everyone wants to receive USD.
  • JA
    Justin A.
    4 December 2020 @ 18:43
    Santiago, other than first mover(current network effect) why is XRP a better technology for these cross boarder payments then for example Hedera’s Hashgraph technology? It’s my understating that HBAR is Byzantine Fault Tolerant and can do 10,000 transactions per second. I understand your arguments for different use cars but other than it’s current adoption I don’t understand what makes XRP a better option than some other DLT’s. Thanks
    • BO
      Brandon O.
      4 December 2020 @ 19:33
      It can have a billion transactions per second. If no one's using it, no one cares. Ripple has been educating regulators and central banks for over 7 years now. They've been building trust since day 1. Of course there will be competition but banks aren't just gonna switch at the snap of a finger without testing it for years and years and years.
    • JA
      Justin A.
      4 December 2020 @ 19:45
      So to my original point Ripple has first-mover advantage and more adoption currently but nothing else?
    • JH
      Jonathan H.
      4 December 2020 @ 19:53
      XRP is also ISO2022 compliant
    • SV
      Santiago V. | Contributor
      4 December 2020 @ 22:17
      Lot's of proposed XRP killers out there, just like lots of proposed Bitcoin or Ethereum killer. Here are the basic elements for a valid Ripple & XRP killer (of which I'm the first to investigate should we see it and embrace): 1. Eliminates nostro/vostro global accounts to revised corresponding banking (thus a blockchain messaging system like RippleNet would have to be formed and implemented). 2. Has established corridors connecting countries and fiats with sufficient liquidity pairs in each. 3. Has more liquidity than XRP 4. Settles instantly, with all funds repatriated at whatever TPS is needed. 5. Permissionless so that any entity can use it.
    • kk
      kevin k.
      7 December 2020 @ 06:50
      Brandon You are spewing BS. XRP claims to be able to handle 50k tx/ps, although it has yet to test that theory. PoS has been proven to handle hundreds of thousands of tx per sec. And trust? xrp is a centralized crypto since the creators have and always will own 50%+ of total supply (not to be confused with circulationg supply. (Which is currently ~48b of 100B minted)
    • BO
      Brandon O.
      7 December 2020 @ 17:09
      holy ignorance, kevin. that doesn't make it centralized. they will ALWAYS own 50%? clearly you have a crystal ball and can see into the future. time will tell who is right. i cant get into debates with people who cleary dont understand. best of luck
  • SS
    Sandeep S.
    4 December 2020 @ 17:18
    Thanks for the Video. Santiago and Raoul, being Open Minded and Receptive to new technology I'm suggesting to look into Hedera Hashgraph WhitePaper. Entire DLT space is going to be revolutionised by this technology. It truly and honestly solves Blockchain's Trilemma. Speed: What underline Transport layer could support (100,000 TPS can scale to 1M-10M). Security: Asynchronous Byzantine Fault Tolerant. Highest grade of security any distributed computing network could get. Governed by fortune 500 world leading companies like Google, IBM, LG, Boeing, AveryDennison, Teutsche Telekom, Nomura, UCL... Ethereum and XRP got real competition from Hedera Hashgraph. Hedera has remarkably progressed in just One Year since it opened for the world.
    • PC
      P C.
      4 December 2020 @ 18:17
      well Hedera need 7 years of work to catch up with Ripple XRP. it can be great but with put utility / liquidity its ... well you know..
    • JA
      Justin A.
      4 December 2020 @ 20:11
      Sandeep. Looks like we had similar thoughts on HBAR as a future competitor to XRP. Would like to touch base more with you on the topic, are you on the exchange? Not sure how else to have a conversation. Thanks
    • JE
      J E.
      7 December 2020 @ 15:09
      good luck trying to buy HBAR... what an amazingly frustrating bag of hurt.. might as well be a CBDC with it's completely over-oppressive approach to privacy/KYC/AML.. I'm surprised they haven't added a body cavity search.
  • VH
    Virgil H.
    4 December 2020 @ 09:13
    Real Vision is turning into a Shit-coin fest. XRP does not represent shares into Ripple company, so why should this pre-printed shitcoin have any value? Or considered as a store of wealth like some degenerate dreamers think. Something that costs nothing to produce has zero value. It’s funny how nobody dares to talk about this.
    • SH
      Scott H.
      4 December 2020 @ 10:36
      The argument laid out is that XRP solves a problem, enabled by initial design choices in the creation of the blockchain. My understanding is that XRP derives value, in part, from the market demand for it to settle cross-boarder transactions. That is, the more it is utilized functionally, the more of it is owned at any one time, particularly if it is held in reserve as a matter of course. Happy to be corrected. My question is to what extent does its value need to driven by 'investors' or 'speculators' versus by its functional demand it its primary use necessitates buying and selling immediately.
    • PF
      Paul F.
      4 December 2020 @ 11:21
      I may be wrong, but I think the RV forum is designed for analysis and critical thought? Thanks for your intelligent and eloquently formed argument though, I will continue to search for the truth.
    • CO
      Courtney O.
      7 December 2020 @ 08:48
      Virgil, you are being very silly :)
  • JK
    John K.
    4 December 2020 @ 07:15
    Raoul i love you but I just spent a hour typing up a detailed comment in response to the video and I hit submit, the post failed and now it’s gone forever :/. Please fix this issue on mobile. Just don’t close the comment field if there is an error and make it keep the state.
    • JK
      John K.
      4 December 2020 @ 07:19
      You know what. I need a job. Hire me to fix it. I'm a junior in college and with too much free time and a willingness to be underpaid for experience.
    • gr
      guy r.
      4 December 2020 @ 15:41
      exact same issue here
    • CO
      Courtney O.
      7 December 2020 @ 08:45
      That's also on you for not copying the massive wall of text before you sent it :D
  • TP
    Timothy P.
    4 December 2020 @ 18:52
    Nice infomercial - this guy is a bald-faced liar. I really wish Raoul would have more hard-hitting questions instead of letting a shill dominate the entire interview. 1. "XRP is on track like BTC seven years out." -- Not even close. XRP first traded price 0.01 USD in 2013. BTC first traded price is 0.08 in 2010. Flash-forward seven years from the respective dates, BTC in 2017 is trading at 909.75 USD, XRP in 2020 is trading at 0.57806 USD. This results in a percentage change over seven years of -- BTC 1.1 Million Percent, XRP 5.6k Percent. On track? Really? Lies. Also the way this guy uses "marketcap" as a valid comparison just shows me how disingenuous he is. Marketcap is valid for equities, not cryptocurrencies. 2. "Trusted Nodes" - listen to his terminology carefully. In Bitcoin, you don't trust anything, you verify it. In XRP's system, you assume trust from the start, which is the beginning of your network security nightmare. Ask Steem, a DPoS system that got hijacked by deep pockets, because they "Trusted" their validators. Problem is, those validators got bought out in a financial coup. 3. Freezing Funds - this guy says they can't freeze funds. Oh, really? Then what is this story about -- https://cointelegraph.com/news/ripple-directs-bitstamp-to-freeze-funds-of-former-co-founder-jed-mccaleb Quote -- "On August 1, 2014, Ripple introduced a feature called “Balance Freeze” which allowed the network’s gateways to freeze and prevent funds from being traded, an action that they claimed was necessary to protect the gateways’ wallets from being compromised, or in the case that Ripple would be “called upon [freeze funds] by the authorities.” Another lie. Racking them up, I see. 4. Stablecoins - I don't like them, but they are liquidity "shims" for exchange activities. On one hand he shills XRP and its "product" that solves the same problem, but they don't have liquidity. They don't even come close to what stablecoins transfer on a given day. Moneygram? Are you kidding me? He might as well tell you that he settles carny tokens for bumper-car rides. His coin is nowhere near any liquidity depth for any exchange to take seriously. The very risks he lists for Stablecoins exist for his coin -- end-to-end FX conversion, fungibility when it comes to accepting counterparties, etc... he doesn't even answer Raoul's question about it, just rambles on using his carefully groomed ripplespeak to dance around the problem. 5. Streaming Payments - Lightning network already allows streaming payments for content. Once again, like stablecoins, his token is late to the party. And finally, his "golly gee whiz why is there so much controversy" -- I'd be happy to tell you, one of his main promoters used to be Tiffany Hayden, posting on twitter often about the XRP STANDARD and how it was going to usurp Bitcoin. It isn't just your crap monetary policy Bitcoiners don't like -- we don't like being antagonized by an upstart that can't go off in its own corner to prove its case. Controversy? You and your followers engaged in those practices for years and you're still wondering why many people dislike you? Get real. When people ask me about the crypto channel on RV, all I can say is they're in their 'noob' phase, where every project is welcomed with open arms, nary a critical question is asked, and when the shills take everyone for a ride -- then they'll learn their lesson. Go ahead, put money into XRP, the market is a better teacher in the long run -- and thus far it says that XRP isn't worth a postage stamp.
    • JH
      Jonathan H.
      4 December 2020 @ 19:46
      3. Ripple did not freeze Jed’s XRP. Ripple instructed Bitstamp to freeze Jeds XRP because they were in a legal battle and Jed was going to dump his coins. Any exchange can halt your transactions. https://fudbingo.com/ripple-can-freeze-your-coins 5. Coil and streaming payments has been around since 2019 https://press.coil.com/press-news/coil-unveils-monetized-platform-for-content-creators
    • SP
      Stephen P.
      4 December 2020 @ 19:47
      Ask yourself why you are so angry? If I don't believe in something, I just move on. You feel the need to attack xrp with very generalized assumption. Santiogo never attacked BTC. He simply looks at both networks as different, with different use cases. He did not lie and all the FUD that you put in you post has been discussed in length and is not as black and white as you state. Truth is XRP and BTC have their flaws and strengths.
    • BO
      Brandon O.
      4 December 2020 @ 19:48
      This is going to age like spoiled milk. The point of all cryptocurrency is what will they be used for? Banks and FI's aren't gonna touch bitcoin with a 10 foot pole. BTC and the lightning network is the same as putting a fire sticker on your Razr Scooter. Bitcoin literally fails its first sentence in its white paper "P2P payment system". How can 7 TPS and an absurd amount of energy to maintain the network going to be sustainable in a world where every industry is focused on greener energy? "Oh but bitcoin will be a store of value just like gold". There is no such thing as a store of value without utility. China and the CCP can attack the mining pools that are centralized in China and create a double-spend in literally 2 hours. How can someone destroy the XRPL? The majority of the validators would have to agree to destroy it. Yeah right... Bitcoin is the longest lasting, sexiest Ponzi Scheme in the history of modern finance. It is, without question, proven to fail if you read what its intended purposes are in the white paper. If anyone does an equal amount of research on all things BTC and XRP, and they arrive at the conclusion that BTC is the smarter investment, then all I can do is wish you luck with your terrible critical thinking skills.
    • SV
      Santiago V. | Contributor
      4 December 2020 @ 22:13
      Let's address each of these points in due course since you are so passionate about them and we'll see that picture is more complex & nuanced than either a 1 hour presentation or a tweet are capable of: 1. I wasn't talking % gains, you can any arbitrary price at any time and decide what the final vs. initial % appreciation yields, congratulations you can use a calculator. The point of that exercise was to show that at the root of most of these networks are Metcalfe's law and as a rough approximation you can use metrics like wallet addresses, market cap (total supply * price), etc. to reflect around the noise of speculation. There is something deeper there but don't hurt yourself looking too hard, it's just simple math. 2. "Trusted Nodes" is a simple vernacular. Relax. That doesn't mean that the nodes are subject to DDOS or Sybil attacks, in fact, given the hatred against XRP you would have expected a coordinated attack on the network to collapse it and take all the value. Why haven't we seen a double spend on XRP to date? I've seen double spends on PoW systems like ETC and BCH, so we know the security model is incumbent on being the dominant hash rate contributor, the XRP CP is not subject to the same attack vectors. You're outside your wheelhouse here. 3. Thank you for referencing the Bitstamp article, you saved me some work. If you read it carefully, and actually understand what's going on there, you'll notice something very important. Funds were frozen by a centralized exchange. Have you ever heard the term, not your keys not your funs? This very much applies here. This is not the same thing as Ripple the company being able to unilaterally freeze funds on the XRPL but nice FUD. Next. 4. Lightning Network as a Layer 2 is still a beta. Show me at scale use of Lightning to solve the payments problem without compromising on the security premium of Bitcoin. I'll wait. Some of these claims are resolved by a 5 minute google search. You can do much better, I believe in you!
    • BO
      Brandon O.
      4 December 2020 @ 22:24
      HE HAS A FAMILY SANTIAGO, GO EASY ON HIM!!!
    • SB
      Sebastian B.
      4 December 2020 @ 22:31
      you sound well open minded...not.
    • CH
      Crag H.
      4 December 2020 @ 22:47
      Wow, very professional Santiago. One of RVs finest moments I'm sure.
    • HP
      Hans P.
      4 December 2020 @ 23:24
      on 1) he's right as he's clearly talking about market capitalization. It makes no sense at all to compare unit prices.. BTC consists of 21M units and XRP of 100B units.
    • MH
      Morten H.
      5 December 2020 @ 09:39
      Exchanges re ordered to freeze Bitcoin and other crypto assets every day because of court orders. This became a reality in crypto the moment Mt. Gox was emptied back in february 2014. I used to be an active part of the BitcoinTalk forum back when you could mine BTC with your CPU and can remember the anger around the time of the XRP Giveaway. People on the forum with large bags payed established forum members in BTC to call XRP a scam. The fear around XRP was simply astounding. This caused some of the early developers of Bitcoin to leave the scene forever, they did not want to be a pat if this. We all need to calm down, the market will decide.
    • kk
      kevin k.
      7 December 2020 @ 06:43
      Tim, you nailed it; "When people ask me about the crypto channel on RV, all I can say is they're in their 'noob' phase, where every project is welcomed with open arms, nary a critical question is asked, and when the shills take everyone for a ride -- then they'll learn their lesson." Reminiscent of the 2017 ICO phase. I actually came across this site due to a Vitalik tweet, linking to "Ethereum, An Investigation", which was a phenomenal video. "Go ahead, put money into XRP, the market is a better teacher in the long run -- and thus far it says that XRP isn't worth a postage stamp." The market will prove itself time and time again. There is no real use case for XRP that a simple ERC20 couldnt provide. Oh, and on an actual decentralized platform. As for Santiago, you are delusional. You claim to have spent a total of 5 min googling xrp. I suggest you spend much, much more time researching things like smart contracts, DeFi, ZKSnarks, PoS, etc... "2... Why haven't we seen a double spend on XRP to date? I've seen double spends on PoW systems like ETC and BCH, so we know the security model is incumbent on being the dominant hash rate contributor, the XRP CP is not subject to the same attack vectors. You're outside your wheelhouse here." Nobody is saying ETC or BCH is going to reign supreme. Nice try though. "3... Funds were frozen by a centralized exchange. Have you ever heard the term, not your keys not your funs? This very much applies here. This is not the same thing as Ripple the company being able to unilaterally freeze funds on the XRPL but nice FUD. Next." HAH! lmfao. Seriously?!?!? If XRP founders own 50% of the supply... guess what? They can do literally whatever the fuck they want. Wake up. Stop misleading people who really want to know about whats goging on in the world of blockchain tech. Ripple owns the majority of xrp and therefore they can freeze funds, fork the chain, double spend... do whatever they want with their majority coin holdings. Guess what? they could even straight up cash in their xrp as its unlocked, as the shill stated in this video.
  • AF
    Alan F.
    7 December 2020 @ 03:04
    As someone who has followed Ripple and XRP for many years this was a fantastic interview and very succinctly broke down challenging topics. Of course, much more time could have been spent on each of the topics discussed: regulatory opacity, tokenomics for an investor to consider, the evolution of utility on the network, interoperability and what Ripple have done with ILP, etc... The truth is that no one understands what the true potential is of this tokens value provided it fulfills the intended use case. The truth is that no one really understands whether we have $5 or $27 TRILLION in nostro/vostro accounts parked around the world. So if its only $5T and Ripple captures just 10% of that (given certain corridors such as USD>EUR are very liquid to begin with) than its very possible XRP's price is still several orders of magnitude away from being able to fulfill these liquidity needs. And here we haven't even touched on Jevons Paradox. When email was created people thought it would be a miracle if people exchanged as much info as compared to writing letters. Jevons Paradox has shown us that if we are able to move money around the world instantly at near zero costs than we should see an EXPONENTIAL INCREASE in the amount of capital flows. This could put further upward demands on the bridge currency of choice. I think it will likely be XRP and thats where my bet was placed. I'm convinced that at this point none of this is baked into the current price given its still so hard to purchase for the most sophisticated and largest players in the world- global institutions but this is changing very quickly. I also have a bet on BTC and a bet on VET all for very different reasons. It is my long-term hope that if XRP fulfills this and other use cases that it eventually becomes a primary store of value as a result of its incredible utility across a number of different use cases. I would love nothing more than my bet in BTC to be proven worthless by XRP's ultimate utility. This is still way too early to tell. Probably a decade before this kind of scenario plays out. I do think that by 2025 though we will have a much clearer picture of who the winners and losers are in their respective use cases. Its such a fascinating space filled with innovation, hype, BS and mud slinging. It's really, really early! We all have an opportunity to play a small part in building the last leg of globalization. Lastly, everyone would benefit from really listening to David Schwartz speak. He is incredible straight forward, honest and obviously brilliant. Whatever your current opinion is of Ripple and XRP the facts are that as time goes on and XRPL matures we have seen further and further decentralization of the network to where at this point Ripple control a very small % of the DUNL and thats decreasing as time goes on. We are also seeing further and further decentralization of XRP held by Ripples founders as Jed McCaleb sells his % programmatically based on the lawsuit and the other founders sell theirs periodically. The XRP in escrow is just that- locked in escrow and I, as an investor, feel comfortable in the way that was designed and distributed. Thank you Raoul and Santiago for laying out a really concise overview of XRP and its fundamentals and potential as well as risks and potential shortcomings. it will be fascinating to see how all this plays out.
  • NC
    Neville C.
    6 December 2020 @ 21:42
    Now seeing XRP in a different light, Thank you for such content.
  • FG
    Frode G.
    6 December 2020 @ 20:36
    Great contents, thank you!
  • JD
    John D.
    5 December 2020 @ 10:08
    Claim XRP can't accrue any value from use in remittance market. Why? Because of token velocity problem. If Sender buys XRP then sends it across the world to be sold by the receiver 30 seconds later nobody is actually HODLing the XRP for the longterm. Hence a small number of XRP tokens can be recirculated in the remittance market. The higher the velocity of XRP tokens the smaller the market cap needs to be to satisfy that demand.
    • JV
      Jerry V.
      5 December 2020 @ 14:30
      Michal, I can see your logic but I feel compelled to point out these factors. Many different players are involved. Each needing to have liquidity in XRP to conduct there business. With more liquidity the incentive to hold XRP grows, it's a cycle that feeds upon itself. - Best of luck going forward
    • DR
      Derrick R.
      5 December 2020 @ 16:31
      Michal are you familiar with Jevon’s Paradox? https://en.m.wikipedia.org/wiki/Jevons_paradox
    • PS
      Paper S.
      6 December 2020 @ 17:22
      That's a short sided comment. Santiago literally explained that companies or even CBs would lean to holding huge amounts of XRP instead of different currencies, which exposes them to extreme volatility, to help facilitate transactions AND provide liquidity in the markets. Remittance is NOT the only use case that XRP will be used for. Ripple is just one company, there are plenty of FIs looking into using the XRP ledger. Think DTCC (multi quadrillion in transactions).
  • Jv
    Juri v.
    6 December 2020 @ 14:52
    Santiago rules, smart and articulate, no easy find, thanks for all the valuable insights and help navigating the jungle!!
  • AB
    Anthony B.
    4 December 2020 @ 06:54
    Super interesting, great video. Thanks - I always didn’t bother looking into XRP because of the huge % of coins owned by ripple. Would be great to get someone in from moneygram as to how the liquidity pools are developing and also someone from the lightning network as a potential competitor. I’m sure this is all in the pipeline.
    • EB
      Edmundo B.
      6 December 2020 @ 10:35
      Check youtube vids of Alex Holmes (Moneygram CEO) discussing the topic, there are quite a few. But agree, it would be good to have him on a RV interview.
  • PS
    Patrick S.
    6 December 2020 @ 03:23
    Great to finally see this on. Get an interview with David Schwartz! CTO of Ripple, and one of the first builders on the Bitcoin network. He is exceedingly qualified to talk about Ripple's goal and blockchain technology in general (and its implications to the future of money).
  • MH
    Morten H.
    4 December 2020 @ 08:26
    Great Video. I would urge everyone to read Sotoshi nakamotos mails and forum posts from 2008 to 2014. Bitcoin was created as an experiment. Satoshi was not a maximalist, but a visionary. The code was thrown out there for the world to build on. Satoshi also mentions Ripple in his mails to Mike Hearn. The Ripple he was talking about was a technology started by Ryan Fugger called RipplePay back in 2004 a long time before both BTC and XRP. Satoshi was inspired by Fuggers experiment. Ryan Fugger teamed up with creators of the XRP ledger in 2012, they called the company OpenCoin. They later changed the name to Ripple Labs in 2013.
    • sc
      samuel c.
      6 December 2020 @ 02:29
      xrp back in 2004 stood for rapid payment with the letter x= ( georapidpayments), there are IMF documents dated back to 2004 related to what I've just mentioned.
  • vb
    vin b.
    5 December 2020 @ 22:04
    Always a pleasure to hear intelligent people articulate their knowledge in a clear and humble manner. Thank you. :-)
  • DK
    Dean K.
    5 December 2020 @ 21:43
    Thank you from Australia to Raoul and all involved in the Real Vision initiative. Although, for the moment it will be a 7 Day Trial. Mid 2021 - this will change. I look forward to membership! Addressing Raoul, specifically- it took one powerful statement from yourself in another interview that resonated deeply. Thank you.
  • DW
    Dean W.
    5 December 2020 @ 21:11
    ⭐⭐⭐⭐⭐ Excellent!
  • PC
    P C.
    5 December 2020 @ 19:45
    XRP was a second crypto created after BTC . new NEOM city in UAE and bank of UAE can open your eyes on Ripple a bit .
  • CG
    Chris G.
    5 December 2020 @ 19:36
    Santiago is one of the most valuable assets RV has.
  • JB
    John B.
    5 December 2020 @ 19:06
    Outstanding video. Non-biased and loaded with great information.
  • DH
    Dan H.
    5 December 2020 @ 18:40
    I enjoyed the interview. In reading these comments, there still seems to be a ton of tribalism, which is sad to see in 2020. As a holder of multiple cryptocurrencies, I don't understand why people aren't able to see that there's plenty of room for multiple blockchains to survive and thrive. I'm a believer in both BTC and XRP, as well as others like ETH. For those who would like to do some more reading about XRP, I found the below to be a useful introduction. https://xrpcommunity.blog/introduction-to-xrp-2019-edition/
  • FL
    First L.
    4 December 2020 @ 22:24
    First they discover Bitcoin. Then they drift of to Altcoins. Lose a lot in Shitcoins. Finally come back to Bitcoin.
    • DH
      Dan H.
      5 December 2020 @ 17:59
      Yes, that has been a very common theme over the last few years.
  • RF
    Richard F.
    4 December 2020 @ 20:36
    I guess the point of this was just to explain XRP and not BTC nor to compare, but the problem is that this discussion is so superficial that no judgment could possibly be made on the presenter's claims. He presents it as superior to BTC in every way and glosses over or ignores real questions and criticisms. Immediate, basic questions that come to mind: Who are the validators? How do they come to consensus? What if they disagree? Why should we trust them? Seem like pretty important questions as they literally control all the value in the entire network. What is the value proposition for XRP? Why does the exchange value of XRP need to go up even if it is adopted? You have to set up each country's bank with a crypto exchange to trade XRP for their currency? Bank sends fiat to exchange, completes transaction, sends fiat back. Sounds like massive friction and counterparty risk. You really have to get deep into the weeds of every claim, otherwise this is just an advertisement for XRP.
    • HP
      Hans P.
      4 December 2020 @ 21:33
      To be fair, it's a 1 hour interview. And I think there has been covered a ton of aspects already. For a more technical deep dive I'd recommend a David Schwartz talk like this one here (https://www.youtube.com/watch?v=lP63dTY_7j0).
    • SV
      Santiago V. | Contributor
      4 December 2020 @ 22:01
      All valid points Richard, let's go through each claim specifically and then debate the merits / sources of those claims (video time does not allow deep dives to this level of detail, but I appreciate your points). This is why MORE, not less XRP related material is required, because otherwise all we are left with are unsubstantiated claims by all. 1. The validators are comprised of decentralized network of computers running the XRPL software to confirm transactions. Disagreement is handled by the XRPL Consensus Protocol and forward progress simply stops if disagreements cannot be reconciled (this means finality). You can learn about the details of the consensus method here: https://xrpl.org/intro-to-consensus.html. A more technical exploration here: https://arxiv.org/abs/1802.07242. You don't have to trust individual nodes, but you are empowered to select a Unique Node List (UNL). Ripple the company provides a default UNL but as a node operator you are free to select your own trusted node list. Many of your questions are answered here: https://xrpl.org/technical-faq.html. Ripple the company, whose CTO was a part inventor of the XRPL, does NOT control a majority of the nodes on the network, hence cannot achieve consensus on amendments without majority of the network agreeing (in fact, some proposals by Ripple have been rejected). 2. The value proposition is the same as any other digital abstraction that has a finite supply, supra-national, and with minimal counterparty risk. The exchange value of any digital asset is based solely on the supply / demand of the market in fiat denominated terms. The utility of an asset is an emergent property that can make it more desirable to solve specific problem (like cross border remittances or FX), thus if it is also a fast settlement system can facilitate global liquidity. Adoption by definition implies possession or demand, so I would expect the price to rise substantially. This makes it even more useful for currency swaps because of tighter spreads and less slippage. 3. There are parties over the globe that are using XRP to hedge FX volatility risk and create a futures market. One such project is FXCoin out of Japan with SBI Holdings (https://dailyhodl.com/2020/12/01/sbi-holdings-testing-xrp-based-payments-platform-and-use-of-digital-asset-in-trillion-dollar-fx-market/). In fact, the overall volatility risk is lower for these transactions because the XRP system settles so fast and the FX swing overall is less than waiting for several days of settlement. It's the opposite of what you claim.
    • CD
      Christopher D.
      5 December 2020 @ 16:50
      You can check all of these things for yourself using google lol.....
  • CD
    Christopher D.
    5 December 2020 @ 16:42
    Raoul, great interview. I would encourage you to consider, is there anything that can be done with Bitcoin that cannot be done with XRP? Is there any fundamental advantage beyond name recognition? We know Bitcoin is useful as a store of value, but if you have to wait 10-60min for conformation of a transaction after spending $10-$100 as a fee to send it, there must be a significant reason to choose Bitcoin in spite of this. I submit to you that there is no valid reason. In time, more people will figure this out, and Bitcoin will lose its place as the market leader. There is a reason the network effect for XRP is moving at a more rapid pace. XRP can be the same store of value as Bitcoin, plus MANY other use cases. Bitcoin is inherently limited, and any hope for Bitcoin solving these issues was quashed when the creators of Bitcoin Cash tried to make improvements, and have become mostly irrelevant today for their contributions to the space. I am sure you know a few of these Bitcoin maximalists by now (Pomp is one). Just keep exploring and learning. After being part of the libertarian crypto community for many years, it is great to see those with strong financial backgrounds becoming involved. The space desperately needs your perspective.
  • JK
    JD K.
    5 December 2020 @ 15:49