PSA:Cost of Ripple Transactions & Reserve Speculation,598$US

[twarden]

Cross posting from Reddit since everything I post there gets buried.

https://twitter.com/kthxbaipce/status/1 ... 0927810561

Currently:
1 XRP =

0.446723$US

0.393019€EUR

0.594019$CAD

1 Ripple transaction costs 0.000012 XRP therefore 1 XRP is the equivalent of 8333.333 transactions.

0.446723$US * 0.000012 = 0.00000536067$US

0.393019€EUR * 0.000012 = 0.00000471622 €EUR

0.00000712822$CAD * 0.000012 = 0.00000712822$CAD

So, if 1 XRP becomes 598$US then:

598 * 0.000012 = 0.007176$US

Also, to add a new trust-line or offer-create for 5 XRP at the above prices it costs:

2.233615$US

1.965095€EUR

2.970095$CAD

So I suggest that you stock up now before the price may take off. An yes, I am aware that if we reach these levels, this will pretty much force an amendment to lower the reserves of accounts which would provide users with plenty of free transactions since Ripple Inc has done giveaways in the past to activate new accounts but this still begs the question if we will see "reserve/transaction fixer" companies popping up in the near future whose sole purpose is to help businesses/individuals attain more XRP for the purposes of creating new trust-lines/offer-creates/signers-list and to reserve thousands (or more) of future transactions at a specific price-point. It also begs the question what kind of reserves would the network be set to with a price of 598$US? Below is a range of estimates of what the reserve for most actions will be set to with an amendment to the reserves and their price points.

598 * 0.005 = 2.99$US

598 * 0.009 = 5.382$US

598 * 0.01 = 5.98$US

598 * 0.03 = 17.94$US

598 * 0.05 = 29.9$US

An I really, really do not want to speculate on what the reserve for an account will be at this price (it opens up such a can of worms) so I will leave all of this for you to discuss further if interested.