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Moneygram Getting Paid in XRP to Build Liquidity

This video is made by To The Lifeboats.

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11 Comments

  1. Sam I think Ripple pays MG the XRP on-the-fly. What I mean is that when MG is set to send XRP from USA to Mexico in an ODL payment MG will receive the XRP from Ripple at that same moment. It’s the payment Ripples makes to MG to balance the liquidity but they literally pay it to MG on the fly during each transaction that MG sends to Mexico. It happens all simultaneously. Ripple keeps track of the dollar value of the XRP as it goes to MG and that is what added up to the 11 million in the 4th quarter. So when Alex Holmes says MG doesn’t “hold” XRP he is being accurate such that MG receives the XRP from Ripple at every moment that MG needs to send it to the Mexican exchange. They didn’t hold or store the XRP. That’s what I suspect is happening. It’s all going on in real time.

  2. Ripple is providing them with the XRP so they won’t be getting it from the exchanges any time soon😒 I was wondering why the price can still go down to .22 cents with the usage starting to happen. No ripple is not selling their escrow, they are using it as incentive. I’ll just be patient because they are the ones doing the work.. but you can’t help but be paranoid sometimes

  3. Sam, 1st, thank you. Over the past couple of years we have seen 500,000,000 XRP or more sent to different exchanges right? The exchange did not buy the XRP right? What is it doing or waiting for? Thank you

  4. For me it would very hard to work my ass off and produce content and then be called a Moron. Must be like traffic. They flip you off and speed away. You know you do great work Sam. Keep driving man

  5. So moneygram is being paid in XRP. Well that's the most bullish thing to ever happen in crypto. Fuck the haters I'm way past trying to convince anyone of anything. Just stacking drops

  6. Sam, doesn't he answer the question? He CAN'T say they hold xrp because of current and changing accounting rules and regulations. To state otherwise could mean getting taxed on it. While saying so may help with PR, it could cost quite a lot. I reckon he won't say clearly until the regulations and accounting rules are clear. And that clarity will help market makers better understand their new operation. Just like he was advised on how to report it, he may have been advised on how to legally speak about it. Between a rock and a hard place.

  7. I have an honest question: having a large pool of XRP means that whom ever holds it has to buy it in the first place which just means instead of having money parked in a Bank account the equivalent in XRP is just parked on a crypto wallet. More importantly the value of this original investment is now exposed to the medium/long term volatility of crypto which we now is much higher that all but the most f&$#ed up fiat currencies like the Venezuelan peso. I get the efficiencies that this technology allows but I can only see this to be true for someone who is in and out as quickly as possible. As we stand right now it’s apparent to me that XRP or any other crypto asset is like a hot potato that very few are willing to burn the hands holding it. Maybe I’m missing something that perhaps you can help us understand? Thanks for your work anyway

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