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Showing content with the highest reputation on 03/18/2019 in all areas

  1. 49 points
    BobWay

    Answer: My Dinner with David

    I just wanted everyone to know that Dinner with David (and four other great guys) was awesome! I really did come away pumped after our long discussions. The fact that everyone at the company is in agreement that David & Arthur's original (and later my) "long term" vision for XRP acting as a bridge currency has/is/was/will always be the guiding star forward. At least that is the way I heard it in my head. David can make his own public statements. But what PUMPED ME UP the most was that it is no longer seen as a "long term" vision. It is a focused activity that the company NEEDS to pursue now. But best of all, they ARE all actively pursuing it, NOW! To David, they all seem unified in the realization that, XRP as a bridge currency, has changed from a “WANT to happen” to become a “NEEDS to happen.” Or else TIME will shift from working with Ripple, to working against Ripple. The early Ripplers really, truly BELIEVED in the concept of a cryptocurrency and everything the fine folks on this forum believe. However, Ripple, for all the right reasons, hired the true cream of the crop from the financial services industry. Their experience gave Ripple insight into MANY many ways to improve payments and communication within the financial networks of the world. But they were not intrinsic fans of cryptocurrency. They were open to the idea of course. But still harbored some skepticism. For a long time it was fine with everyone if Ripple was seen as an enterprise banking software company. But that silly pipe dream evaporated as everyone realized how much more value could be created by shifting the focus back to XRP. Ripple still makes great enterprise banking and payments software. That will never stop. But Ripple is most definitely a cryptocurrency focused company again! --- Keep in mind, some of what I said above is perhaps owed to my interpretation of what David said and its personal impact on me, colored by my history with the company. I'm not a reporter quoting David's exact words. He speaks for himself. I'm writing my personal impression of what I heard along with my feelings about it. This may not be the official company position. But know that nothing we talked about was private. At best it was semi-private. We were all in the middle of a crowded restaurant talking pretty loudly. We were also all talking openly to people at the table neither David nor I had ever met before that moment. So I'm not selling out my friend or saying things whispered to me. (David didn’t say this next part.) I personally believe that the company is dramatically revisiting every situation where the software licensing cost was seen as a barrier to entry for institutions. I personally believe that was a case of “false economy”. Ripple the company benefits much more from the customers that small and medium size banks bring, then they do from any licensing fees they could charge the banks. Hearing what David has to say made me ecstatic… (But I want to be clear about why. I don’t want anyone mistaking what I’m saying as, “XRP to the moon, next week.” XRP will go to the moon, absolutely, in my mind. But I have no idea when.) … The reason it made me ecstatic, was that a long while back Stefan nicknamed me Cassandra. In Greek mythology, “Cassandra is cursed to utter prophecies that were true but that no one believed.”mI actually got a substantial raise that on my review said, “I have to rate you highly, because your initial ideas always end up being the ones we implement... wait for it ...after trying every other possible alternative. So truly believe me when I say me being ecstatic was not financially related or something you should trade on. The reason was pure vanity.
  2. 33 points
    BobWay

    Answer: My Dinner with David

    So true story. I met Wim Raymaekers and talked to him for more than two hours on the floor of the Bitcoin Amsterdam conference in May 2014. He was fascinated at all the things I demonstrated to him that Ripple could do. Our pitch was "Access, Speed, Certainty, Cost" at that time as well as now. Well the next day Wim reappeared with this other nice fellow named Gottfried. Wim asked me to demonstrate to Gottfried what I'd shown him. I was very keen to tell the both of them how interested Ripple was in working with SWIFT. I saw the two technologies as quite complementary (actually I can still make that case). The three of us talked for almost two more hours. Now keep in mind I had no idea who either of these guys were. Usually just rank and file employees walk the floor at conferences and discuss details with tiny new companies for three and a half hours. If they weren't SWIFT employees I would have thought they were monopolizing my time. The rest of the people manning the booth actually got annoyed I was talking to them for so long. Also keep in mind these were not meeting planned in advance nor did we have a quiet room. The stood shouting over the noice with me that whole time. (How could those guys be particularly important?) Also note that in Banking and Finance everyone has pompous titles. I never knew what to think. In banking, VP means "entry level". So these were very productive conversation and I tried very hard to sell them on the idea of a partnership. When they finally left, both deeply understood what Ripple (now XRPL) could do. So I expected them to call Patrick and set up an "important people" meeting. But no. Shortly afterward SWIFT announced the Global Payments Innovation Initiative (GPII) now (GPI). Look at the dates for GPI on Wim's resume. Even their collateral matched Ripple's almost point per point. (I couldn't find the initial release online.) Of course, I thought it was highly improbable that I had anything to do with their decision. SWIFT is a big company and probably works on lots of things for years before talking about them. But later, I was introduced to a SWIFT employe who was actually on the GPII team. So I told him the story and asked if it was correlation or causation. He said, "No, we had nothing like that going on. Wim and Gottfriend came in right after their trip and said, "We have a new number one priority..." and that turned into GPII. So it was in direct response to the (unintentional) fear I caused in both of them.
  3. 21 points
    BobWay

    Answer: So what's my real price?

    Seeing you guessing actually creeped me out a lot. I'd like to please discourage public discussion personal finances. First, because people tend to guess too high Second, because public discussion of "how rich Bob is" increases my stochastic threat model. Once people start to think I have 4,500,001 XRP (which is completely unfounded) they also start to think, hey Bob's "moon" could be pretty soon. If XRP hits: $1 - then it's $4,500,001 which is pretty rich $10 - then it's $45,000,010 which is very rich $100 - then it's a f-ing half a billion dollars! Hey, lets get him The truth is, like Arthur, I really like walking around on the streets without needing to look over my shoulder all the time. I'm just a regular guy. I don't want to be king. What's not immediately apparent to most people is that once I give you "my number," I take on substantial risk. Everyone on the internet becomes my trading adversary. That's why, in general, nobody wants to clue people in on how they are going to trade. Let's say I tell you, "I'll sell all my XRP at $100". Then other start including that information their trading strategy. You just can't help it. For example, people might think, hey Bob is smart so he'll want to sell at the top of the market. But he is also XRP "rich" so when he sells he's going to crash the market. So of course, it's in my own self interest to sell before Bob does. So I'll set my price at $99 just-in-case. So in cumulative effect, all of you crash the market or kill the rally before my price ever comes. Wash, rinse, repeat. But being robbed or beat trading isn't what I really fear. That is the perception of "fraud", if I was to say I believe the top of the market will be 589, but because I'm "not that greedy" or "got in early" so I'm still going to sell at $100. Then say it does hit $100 and I do sell. But it crashes before 589 and some of you lose money. It's pretty easy to make (but maybe not win) a case that I fraudulently encouraged you to do something intended to make myself money, while losing money for you. And I really don't want to be arrested, even if I later win. That would really be a pain in the ass. Worse, I can only feel honorable and good about myself if I visualize the market going continually up over time. If I do that, then whenever I sell, I know I'm not taking advantage of a more naive buyer. I made money. Eventually they will money too. If I visualize myself as selling at the top of the market, then I'm saying to myself, "I'm really here to beat the buyer." Since I'm going to sell at the top of the market, the buyer is going to get screwed. And that isn't really in my character. But if I tell people, "The market theoretically has no top." Well that sounds like puffery, pump, of fraud even to me. ---- So the more people who hear what "my number" is, the larger the stochastic threat I face. You might have good faith and opt not to trade against me or file fraud claims. But as the circle of people who read this thread gets bigger and bigger. It becomes statistically more likely that someone who reads it does. I'm going to have to think long and hard about how I want to finish the story above. Worse, finishing that story is key to the more important thing I want to tell you next.
  4. 17 points
    https://bankingblog.accenture.com/payments-predictions-2019?lang=en_US
  5. 9 points
    I woke up absolutely livid at Ripple the company last night. The Ripple hosted forum had been down for a couple of days. That made it impossible for me to look up some references I wanted to share. But yesterday the forum links were redirected, implying the old forum was 100% gone. And that really, really ****** me off. Inside I was raging. It really felt like an attempt to slap me or the community down. But I knew that was entirely irrational. I mean WTF! I've had nothing but support from David, Arthur, NikB and everyone I've talked to. They all complement me for my return to the forum. But I always feel skeptical of everything when I'm interacting in the cryptocurrency space. Obviously, sometimes even about the actions of old friends. But just because I knew it was irrational and probably completely unrelated to me, I still felt angry that "over there" somebody didn't see the value of keeping the forums history public forever. Knowing you are irrational doesn't stop it your anger from feeling real. So in the middle of the night I pinged an old friend at Ripple who would know. And he said, "We've had lots of DoS attacks lately and the forum keeps falling over. It's rarely used so also rarely updated. We've just haven't been able to prioritize keeping it running." And he anticipated my next question by saying, "But both the forum and the old wiki are all backed up on the WayBack machine at the Internet Archive." And actually, that was all I needed to hear to put me back at peace with Ripple and the rest of the world again. --- I really do understand how it can seem that some Ripple actions are aggressions aimed at the community. But I know from experience the actions are mostly just coincidences. But ones with community perceptions that no one at Ripple ever anticipated before taking that action. If you start feeling anger about something specific that happens in the future, please PM me. I'll do my best to find out what's up. But I'm not really interested in rehashing old grievances. Let's let sleeping dogs lie.
  6. 9 points
    Benchmark

    Answer: So what's my real price?

    I am totally okay with never hearing your number. It's completely irrelevant in the grand scheme of things, but sadly there are some members on this board who insist stuff like this.
  7. 9 points
    BobWay

    Answer: So what's my real price?

    I had a second part of the story, I was going to post here. It was purely an emotional story, which was the point I was trying to get across. But I'm going to cut it short and say, "It's emotional for me. It's not well thought out. Don't listen to me." If you want to know why, feel free to read some details in posts FARTHER DOWN BELOW in this thread. Yes, magic, I control time! I just wanted the full story at the top, so others would not need to wade through everything to find it. --- Everyone here has accorded me an undeservingly exalted position. So I understand what I say is going to unduly affect a lot of people's perceptions. Please don't let it. The answer I am going to give is lame. Or at least it is from your perspective. It absolutely was NOT chosen by deep research of the data nor via advanced information. In fact, my "sell price" for half of my stack, is a purely personal emotional price point. One that deserves ZERO respect from others for its foresight. But strangely, I also expect my price to correlate remarkably with many others. And those Doh! That's mine too!" echos could snowball having dumb side effects on other too. So what's the price? $3.00 That's the price I "really knew internally" that I should have sold at last rally. I've been kicking myself for second guessing myself and giving in to rally fever. In fact, I was going to be perfectly happy at $2.00 after holding declining XRP (down as low as 0.3 cents) for years. I gave into rally fever then thinking hey, $3.00 would be up, 1,000 times! Wouldn't that be a great story to tell for the rest of my life! In the end I did sell some at $3.00! Woot me! But then I bought it back "on a dip" at over $2.00. I wasn't comfortable NOT hold XRP for the longer term. So I held it all the way down. What was the net result? Some cash and a HUGE amount of taxes. At least to me. It ate up a substantial part of the cash. Am I happy with my purchase? Absolutely ecstatic! The extra cash I have is great. It gives me the flexibility to be here with all of you and to start on my new project. I don't have enough cash to fund that. But I have enough to support myself while I look for funding. Am I happy I bought all that XRP back? Absolutely! Am I happy I didn't wait to buy it all back at 30 cents. Oh, Hell No! So now you know why that's my price. Please don't consider this advice or trade any insights you think I might have. I don't. But this time after it hits $3.00 and I sell it to someone else, I want it to continue going UP for them as well. I don't want anyone kicking themselves for buying XRP from me. I would be ecstatic if XRP hit 589! Because I still expect to be holding XRP when it does. So don't think I'm bailing out anytime soon. I want my kids to profit from XRP. That is what "long term" means to me.
  8. 8 points
    Personally, I think there is actually very little analyst coverage actually paying attention to what any blockchain project or company is trying to accomplish right now. I'm talking about the big global voices whose opinions are greatly followed and whose opinions make a lasting impact in the view of the public eye - these people are still focused on the market price volatility because of all the headlines that $20k BTC created at the end of 2017 and the valuation drops that followed. So yeah, right now the digital asset XRP isn't very sexy.... That being said I think Ripple is still night and day ahead of the competition in terms of the core problem as a company they are trying to solve -- an international payments system overhaul. Now we know it all started with this very general/broad media push in 2017 to take on the banking industry, but by early 2018 it was obvious to Ripple that liquidity was going to be a problem for xRapid to work in the banking industry as a core payment network product and Ripple pivoted their marketing to target their solution as a remittance product. This resulted in two things happening: Long time followers of Ripple and XRP were very confused when this happened and some panic set in among the community about why and how Ripple would change their stance on banking so suddenly. Ripple found a way to keep their core digital-asset-utilizing product xRapid relevant at a time when analysts began questioning the feasibility of what Ripple was trying to accomplish. There were a number of analysts that finally admitted "Yes, Ripple found a niche and they apparently can exploit value out of their network by leveraging a digital asset for these smaller payment processing corridors involving remittances." At that point I think Ripple realized that to capture the core of the banking industry they were going to need to find the liquidity first and to do that they turned their attention again, but this time to the Forex markets when really no one else had even considered such a target. Ripple's own partners (SBI) also began to move in this direction and we've yet to really see the fruit bared from these efforts yet. Also, Ripple has since chosen to not sit idly by waiting for liquidity to build via remittances and a potential entrance into the Forex market at some point in the future and instead again pivoted, created Xpring, and began exploring and investing in other potential markets to source liquidity from. This resulted in a number of tech startups getting funding focused around the development of XRP integration in various products targeting a wide range of markets, including initiatives like Coil that are attacking advertising and micropayments through web monetization, as well as the recent funding announcement with the video game blockchain platform Forte. So yeah Ripple is keeping very, very busy right now. And while xRapid and the original target of the banking industry is going to take potentially years to really break into Ripple has done anything but sit idle waiting for the liquidity to just show up for their own product's success. It's may be a bear market for all digital assets, but IMHO for Ripple as a company their direction and focus has not looked stronger and they are already positioning themselves for way more than just the banking industry when it comes to the digital asset XRP and the Ripplenet. Just my $.02.
  9. 8 points
    Rey

    Answer: So what's my real price?

    I wholeheartedly agree with you, Bob and Benchmark. And I really think that as good community members we should encourage others to take their privacy serious and not mention sensitive personal financial information on any public medium. To be honest I could imagine people working for a company like Ripple, that probably has major global financial impact, being a bit scared as many others might have an interest in wanting something from them. We as a community should at least not make that worse.
  10. 7 points
    BobWay

    Answer: My Dinner with David

    He is a great friend of mine. I worked closely with him on trade finance in Singapore. He also built an amazing team in Sydney. The are truly spectacular!
  11. 7 points
    Eric123

    Epic Pennant on BTC Chart

    Well it didn't work out like I thought it would. We only got half the move and half the volume. We are just about $16 below the 100 Day EMA at the moment. Getting above this Average is a big sign that we are moving into a bull market. Even though we did not get a significant move the price action is still encouraging and the MACD on Bitcoin returned to positive with the movement we got in the last two days. A lot of analysts are still either calling for another drop to a new low or at least stating that it is a possibility, I think this is a good sign that "it won't happen". IMO the analysts have just had their hearts broken so many times over the last year that they are suffering from PTSD and are too scared to say that we bottomed in December. Anyway things are looking positive.
  12. 6 points
    Some of your stories are extraordinary, especially that one with Wim and Gottfried. It is absolutely right to discuss everything frankly with everyone and you have that knack. When you do something new in the world you open the gate, and others pass through the gate you opened. That is the nature of opening gates. Anyway people who copy almost always fail (even on the simplest tasks). GPI is a typical copy response, they copy the superficial fluff of other peoples ideas but they always always miss the substance.
  13. 6 points
    Rey

    XRP Army of Bots

    Now really?
  14. 5 points
    Been a LONG time since I've posted here...feels good to be back. I’ll start this post off by saying that although I have been following Ripple/XRP for years, and invested in XRP years ago, over the last year I have stopped following as closely. I feel like a noob sometimes. Between moving to a new city, a new job, family things, etc., I haven’t been able to follow as closely as I’d like. I see the announcements, see the price movements, etc. but don’t see everything, so if I mention anything in here that has already been said or spoken about...sorry. But Bob Way’s posts from the last week or so have driven me down a deep rabbit hole and I love it. I’m going to reference some of Bob Way’s posts in here and I really don’t feel like going through the threads to find his specific posts and linking them. Sorry. I’m lazy right now. If you want to go find them, look in the ‘Hi! I’m Bob’, “Answer: wen moon?’ and ‘Answer: about the patent, Let’s talk’ threads. Also, Bob (and anyone else), if in this post I’m misinterpreting anything, if it’s plain stupid and makes no sense, if it’s hype, just say it/report this post. If it’s so over the top, I’ll take it down. I wanted to take some time to discuss the price of XRP. Obviously, all of crypto has hated the price movement of every coin since the end of 2017, but XRP is unique. Let’s discuss. It is always been talked about but the main thing to remember is this: utility. XRP is not like other coins. There is actual utility and real-world use of XRP. Average people like ourselves use XRP. Payment providers use XRP. Financial institutions use XRP. And this real use case in the real world plays a significant role in the price of XRP. In order for XRP to become the world’s bridge asset, there have to be many players in the ecosystem. Some of the biggest will be market makers. Remember this: market makers do not care about price. They make money off of the spread and the narrower the spread, the more money they make. You know what market makers hate? Volatility. Volatility kills their spread aka they do not make as much money. So when you see the price of XRP staying somewhat stagnant, that is GOOD. Market makers are at work and they’re making money, they’re happy. Obviously, a higher price of XRP is good in the long run, but market makers play a SIGNIFICANT role in the XRP ecosystem and if they can make money while the price gradually increases, everyone wins. Now, I’m sure everyone is itching for XRP to pump (myself included), especially after seeing other alts pump recently and the overall bullish sentiment of the market. But if it doesn’t pump, we should be VERY happy about that. Why? It’s safe to assume that when a coin pumps, there’s probably not a lot of liquidity. Order books are thin and there can be massive moves up or down. For other alts, that’s fine - most don’t have real use cases. But typically what follows a pump is a dump. And it makes sense, people want to see profits and they’ll unload their coins. But for XRP, we might not want that. Why? Again: UTILITY. XRP has a real use case and actual customers - we do not want the price to be pumping and dumping. When XRP stays somewhat constant, with good volume, that’s VERY good. That means that the order books are deep (more liquidity) and that over time institutions can make larger trades without moving the price way up or way down. Customers using XRP want liquidity. They NEED liquidity in the market to use XRP. We’re also itching to see xRapid move the price. However, Bob Way said it himself the other day - xRapid probably isn’t going to move the price of XRP. You’re buying and selling the same amount in a short amount of time. What xRapid will do, however, is show institutions the benefits of XRP without having to hold it. And for some institutions, xRapid is perfect for them. However, some will see the benefits of using XRP and won’t want to pay additional fees for using xRapid, so they’ll want to hold XRP themselves. Bob also mentioned that over time this could put upward pressure on the price, with institutions realizing how liquid XRP is and wanting to hold it. So, what does xRapid do (for XRP, we know the savings it provides for customers)? It provides liquidity. It deepens the order books. And yes, it may help to increase the price due to demand. You know what else it does? Brings market makers in the game. Why are market makers important? They’re going to play a MASSIVE role in helping XRP become the world’s bridge currency. Now, this is the part where my tinfoil hat really has been put on (more so than above), so absolutely be skeptical of EVERYTHING I say. I took time this past week to read through the issued patents that Bob Way has. And then I read through them again. And again. And again. They’re VERY hard to understand and I definitely do not truly understand everything that is in them, but some parts jump out. I also want to mention that Bob Way posted that one of these patents (Stefan’s original idea, but Bob and Ripple have been issued the patent), over time, puts upward pressure on the price of XRP and could help force XRP to become the world’s bridge currency. One of the patents (resource path monitoring) was issued in July 2018 and seems to discuss the distribution of any resource (corn, XRP, water, etc.). If you read through it, there are a few paragraphs that seem to describe the escrow process that Ripple has with XRP...which is intriguing that the patent came out just a few months before escrow actually happened (the escrow announcement was also 2 months before this patent was issued). THIS NEXT PARAGRAPH WILL SOUND CONFUSING BUT I WILL TRY TO BREAK IT DOWN AFTER. BEAR WITH ME: There is a lot of wording in the patent, but one thing that jumps out is that it discusses a reservoir resource pool which sounds exactly like Ripple’s stash of XRP. It discusses how the intermediary resource in this pool (in our case, XRP) can be distributed from the reservoir resource pool to other resource pools (accounts) on the same resource network (in our case, the XRP ledger). It also discusses that a computer-implemented method can monitor various resource paths on the resource network over a certain amount of time, called the monitoring period, and that the reservoir pool can then send the intermediary asset to various resource pools at the end of the monitoring period during a time called the distribution period. This computer monitoring system can monitor volumes/costs on various resource paths and during each distribution period can distribute the intermediary resource based on the volume/costs of each resource path. If during one monitoring period there is a resource path that uses a lot of the intermediary asset, the reservoir pool has the ability to send more of the intermediary asset to that resource pool. If during one monitoring period the intermediary asset is not used that much in a certain resource path, the reservoir pool has the ability to send less of the intermediary asset to that resource pool. Ok...let’s try to decipher this. To me, this sounds EXACTLY like Ripple’s escrow process. What I took from the patent is that during a certain period of time (monitoring period) a computer system has the ability to monitor the movement of all funds over the XRP ledger. Basically, they can track all of the different payment paths over the XRP ledger and can see the volumes/costs associated with each ‘resource path’, which could be a fiat-fiat path, XRP-fiat path, etc. I would guess that the monitoring period is a month...when Ripple’s XRP is locked in escrow. At the end of each month, Ripple distributes some of their XRP to various accounts to help build the ecosystem as they say. They distribute it based on the volumes/costs of the previous month. Who are they distributing it to? My guess - market makers. This could be crypto exchanges or other institutions (think a trading desk at a bank) and they distribute the XRP in markets/payment paths where they believe it will help. They’re helping to make XRP the bridge currency in those markets. Now, let’s connect the dots on why this is important. There is a patent that they have that allows them to distribute XRP based on calculations of the XRP ledger. They are able to distribute XRP to market makers (and others) which helps to bring deep liquidity to XRP markets. Over time as RN grows, this will help force XRP to be the world’s bridge currency Now I’m a little tipsy off of the red vino after writing this, but I think this relates to what xPool could be. This came to me late last night, and I didn’t want to share it, but why not. Everybody thinks xPool will be one big pool of XRP that people can draw off of...how is that possible? Who controls the pool? Who controls the private keys to the pool? Again, I’m tipsy, and not a technical genius, so if something like this is possible, please let me know. However, I don’t think it’s one big pool at all, I think it will be related to the resource pools discussed in Bob’s patents and to the pathfinding feature that will eventually bring together all of RN. Now, this is also where I want people to correct me if I’m wrong because I haven’t followed the advancements of xCurrent/RN over the last year. The end goal of RippleNet is for everyone to be connected (aka multihop). As on now, xCurrent is used as a messaging system and leverages Nostro/Vostro accounts and we all know what xRapid does. BUT as RN grows, it will all be connected, and everyone will have a resource pool. A resource pool may not be this complicated idea. We know Bittrex is an xRapid partner - they have a ‘resource pool’. It’s every resource that they hold. Based on what I’ve read about the other Bob Way patent, xPool could the next software integration that connects all of RN (much like the pathfinding feature they have listed on page 17 of this page - https://ripple.com/files/ripple_solutions_overview.pdf). That patent (resource transfer setup and verification) sounds VERY MUCH like what everyone thinks the Interledger Protocol will be...and that patent was just given in January of 2019. It’s also interesting that Bob Way mentioned xCurrent uses ILP 1.0...I’m not sure exactly what 1.0 entails but is 1.0 just atomic payments when you can leverage Nostro/Vostro accounts? Could the latest version that just got patented be the ILP we all think it is in terms of connectors moving various assets (fiat/crypto/etc) at once over multiple payment paths aka multihop? Bob said the current version ILP is 4.0...customers were also supposedly beginning the transition to xCurrent 4.0 last fall...a couple of months before the patent was formally issued. Very interesting. Now - that’s all for me. Please let me know if this is all stupid and I should take it down. I’m going to enjoy the rest of my vino but I wanted to share this with you all. I’m sure it took various turns but, hopefully, it makes sense and encourages people to go dig deep in the patents/other articles and connect the dots.
  15. 5 points
    Bitcoin is 10 years old providing very little use case and crappy Layer-2 solutions But it's still around. Why should Ripple accomplish everything in the next few months to avoid failure is out of my understandings
  16. 5 points
    Truckdriver

    XRP Army of Bots

    "Breaking News" bots cause bull run
  17. 5 points
    BobWay

    Answer: So what's my real price?

    I'm not a rational investor. I actually bought XRP a prices WAY above todays market. So why wouldn't I want to buy more at this huge discount to my last purchase? Well, because I'm probably an idiot. Currently my position is that I want to use the fiat I have to buy a house. We are "temporarily" renting a small apartment while waiting as the housing market briefly cools. I can say that, because most of you aren't trying to trade houses against me. But even I think that is silly given I'm betting almost everything else I own that XRP will go up. So why not bet the rest as well? Of course, the final answer is, "My wife is sane." That convention was started by coin market cap and other sites. It was not dictated by Ripple. In fact I've heard some say they are peeved at that. But it is reasonable by comparison. The bitcoin market cap isn't calculated based on 21 million bitcoins. Only the ones currently circulating. Some argue, "the unmined bitcoins don't actually exist!" But in point of fact, no bitcoins exist. People just agree that they exist according to a particular convention. We could have used the metaphor that when the system started, 21 million bitcoins were in an imaginary cold storage wallet. And as each block is minded, magical ferries take 50 BTC and drop them into the block. Really no one would see any actual difference. The same is true of XRP, they don't really exist either. We all just agree that they exist according to a certain convention. You could say the escrowed XRP accounts haven't been mined yet. Then when their escrow release date comes (mining date) then do exist. But if Ripple doesn't sell all of those and re-escrows the remainder, was that XRP un-mined? (I really shouldn't type when I'm so tired should I.)
  18. 4 points
    I'm pretty sure Greg muttered the words "it's now or never" right before he placed that sell order...
  19. 4 points
    stellar/IBM have copied everything ripple have done, absolutely everything, it's disgusting they even use the same spiel "frictionless payments", "move value like information" etc total wankers
  20. 4 points
    Thank you to everyone who submitted topics. They are all great. I'm hoping to enlist a partner to help me wrangle them into a coherent plan. Feel free to volunteer! Something coherent like the awesome list in the above post. That matches many of the point I put on my own timeline drawing. Think of that as a preview of my next thread.
  21. 4 points
    I dont think that IBM wants to push a coin where the founders hold 80% in an unesrowed account. I also believe that IBM right now cant compete with Ripple to be honest, thats why they are pursuing a different use case
  22. 4 points
    Uses a STABLECOIN. Nothing to see here. You need liquidity to go from an untraded illiquid stablecoin to a fiat asset. XRP will outperform this in the short term. Longterm? The idea of a stablecoin will be laughable.
  23. 4 points
    Lamberth

    Accenture Payments predictions for 2019

    I really liked his predictions. Then I checked his predictions from 2018 and was a bit disappointed.. https://bankingblog.accenture.com/payments-predictions-remainder-2018
  24. 4 points
    Hodor

    XRP Army of Bots

    This is the sentence where I stopped reading: I literally, physically can't read any more after that sentence. First of all, it's not "recent." This abusive Twitter account has been making unsubstantiated claims against the XRP Community since early 2018. He has repeatedly been asked for his proof on this, and no proof was EVER given. In addition, he treats anybody that wants proof with absolute gutter derision, and has resorted to name calling of crypto icons (like David Schwartz) that would make a six-year-old quite proud. ANY news reporter or even hobbyist blogger that would quote this guy... yikes.
  25. 4 points
    xrphilosophy

    XRP Army of Bots

    I sincerely doubt bots will either put XRP out of favor or in favor, move price up or move price down. This market is controlled by far more powerful interests. Non news story, and as stated before an uncreative one as well. Bots exist on twitter, breaking news..pffft.
  26. 4 points
    BobWay

    Answer: My Dinner with David

    Read moar! I'm going to talk about that when I finish the "my price thread" shortly. (I hope)
  27. 4 points
    xrphilosophy

    XRP Army of Bots

    We are the bots. It's true. I remember news like this prior to the last bull run. Absolutely outstanding "ethereumworldnews"!! You go girl!
  28. 4 points
    Thanks. I try but sometime I’m only human. I know there are a lot frayed nerves towards the company. Just wanted everyone to know it happens to insiders occasional to. But you are right. A deep breath fixes everything most times. Thanks for the advise!
  29. 4 points
    Tinyaccount

    Answer: My Dinner with David

    I can’t resist a moan... You were lucky. I find that after the things I said would go wrong actually happen, and after they go back to doing what I suggested in the first place, then at that happy end point the boss just thinks it was his idea, and simply remembers that I was obstructionist...
  30. 3 points
    https://www.ibm.com/blockchain/solutions/world-wire https://seekingalpha.com/news/3443696-ibm-announces-blockchain-world-wide-network https://www.ibm.com/downloads/cas/YW3W2JPZ IBM has released their blockchain solution for cross-border payments with a concept similar to xRapid in its use-case.
  31. 3 points
    It might be a competitor to Ripple, the company, as another company that offers enterprise software for cross border payments. That's separate from the moving of value by a digital asset within a certain ecosystem. IBM seems to leverage their reputation as a trustworthy company to further this part of their business. I could understand that IBM has benefited from the knowledge of Stellar (Jed probably alone) in laying the groundwork, as a glorified consultant. And in return, Jed demanded they say nice things about Stellar. That's just my two cents. The people at IBM are not idiots, they know how to google 'Jed McCaleb'.
  32. 3 points
  33. 3 points
    As Bob Way alluded to, xrp will be used on a level where it's use is essentially invisible to those who are using it. The network that Ripple built over the past five years is impressive by any standard, and it's this alternative to today's antiquated infrastructure that will essentially become a 'backdoor' for future xrp usage. Even within the R3 Corda settler, it's entirely possible that xrp will become a behind the scenes means of international money transfer for SWIFT, whenever xrp proves to be the best route/option. Even with all the talk about banks creating their own 'stable-coins,' the neutrality of xrp is what allows it to be a bridge on a global scale. As their network of exchanges, money transfer companies, and banks grows, so does the value and utility of xrp. Ripple has the software solution that's proving to be a secure, reliable and inexpensive option for connecting banks and FI's around the world, and their years of testing and pilots has given them a lead which is being underestimated. Banks are both super conservative and laden with rules and regulations, therefore it won't be an easy task to bring a worthy competitor to the market: especially one which is this fast, reliable and inexpensive. True progress takes time, persistence and vision, and Ripple has demonstrated that they've not only got what it takes, but are on the right path to capture a significant portion of the market. Ask yourself this, if you believed that a small biotech company had developed a reliable, inexpensive cure for cancer, would delays by the FDA, or even in the clinical testing process, change your mind on the value of their technology?
  34. 3 points
    I love that there are other businesses validating the xRapid use case. But to be clear, IBM is not pushing Lumens here. They're pushing a stablecoin they built in partnership with Stellar and Stronghold. Do they permit customers to transact with Lumens? Looks like it. But from early on their focus has been on a stablecoin. They're missing the point.
  35. 3 points
    Q. Anyone else feels like XRP adoption is a now or never thing? A. No.
  36. 3 points
    Ripple is changing the ecosystem of how money moves globally. XRP unlocks the ultimate bridging asset to move between currencies and eventually other types of assets. It's not now or never, its happening. It just takes time to change something so pivotal and important.
  37. 3 points
    Doesn't seem to be much life in zerps at all, lately... The only way up (price-wise) I see as a reaction to bulls waking up... The use cases Brad's been selling us for some time seem distant, or at least there's no increase of traction whatever to be observed on the Ledger. Again, it's also a matter of belief whether you'll hang in there or not. I hope, think and assume that much is going on behind the scenes. Hey it's complicated what Ripple tries to achieve. But of course it's also time to not close one's eyes to potential red flags.
  38. 3 points
    I absolutely 100% agree with you @Sukrim. I think I'd be banging on the front door if I were you. Maybe I'll even go bang with you. I really just wanted everyone to know the immediate precursor to why it happened. I am absolutely not making apologies for a result I think is short sighted. And @Sukrim I am absolutely not apologizing for their absolutely horrific disrespect to you and your long term efforts. Even as a company, you should always back, support and respect your friends. Even if you need to move on to different things. What is your preferred solution @Sukrim. I understand the forum software itself might need an upgrade in order continue being viably hosted. I could see several possible ways forward including the one @Dario_o suggested of turning it into static html. I could also see, limited time re-hosting of the site so people can access their personal messages. (I'd like that too) Or even transferring the hosting to someone else. @JoelKatz I'm pinging you on this because I want you to be aware that, what might have seemed an inconsequential decision inside Ripple. I having, must larger, and more personal consequences outside Ripple. If this was unintended on the companies part, perhaps at least a personal apology to Sukrim is in order?
  39. 3 points
    010101

    XRP vs XLM - technology?

    We all have different metrics we judge our beloved Ripple and even more beloved XRP by don't we! I don't care about any release that involves Ripple giving another company/project millions of XRP nor do I care about any "partnership" that only does a handful of transactions in 3-6 months. This forum used to say watch all of these "partnerships" using xCurrent will just flip the switch to xRapid! I'm not even sure I care about that too much these days because I don't see it happening either even though xRapid has been live 5 months. I care about BANKS real BANKS not Euro Exim (900k in asset banks) the rest all you guys/gals can argue about IOV, Video games, gambling, or whatever other latest buzzword is popular. I believe until real banks start using XRP I don't believe there will be a MOON. So, to me Ripple releases a lot of PR's, Brad talks a lot, I just don't see a lot of those PR's correlating to real XRP usage I own other coins that have done well, so I'm not complaining about crypto, but XRP hasn't done anything this year. Where are the banks Brad?
  40. 3 points
    https://www.finextra.com/pressarticle/73026/worldpay-and-lianlian-pay-team-up-to-connect--china-to-the-world Worldpay, Inc. the global leader in payments, and Lianlian Pay, one of the top mobile payment service providers in China, are partnering to expand Worldpay’s settlement and pay out capabilities to include Chinese Yuan (CNY).
  41. 3 points
    DavyJones

    XRP Army of Bots

    Looks like they are running out of FUD. Some stories in the past were quite creative, but this is just dumb. Sadly all that counts for these so called "news" websites are visitors and clicks. Therefore we will see much more of this crap.
  42. 3 points
    DividendGamer

    Answer: My Dinner with David

    I hope that Ripple is in touch with Andrew Yang. Their tech is exactly what is needed to allow for campaign finance contribution transparency. Using the xrp dlt xrpl to track all the money in the government would be a big step towards stopping a lot of corruption. Plus the Freedom Dividend would help millions and millions of Americans and allow for further investments into xrp and other crypto currency and Investments.
  43. 3 points
    Julian_Williams

    Answer: My Dinner with David

    Do you think it is possible for anyone to could catch up Ripple/XRP. It seems to me Ripple are about five years out in front of the opposition and to set up a rival package to the one offered by Ripple/R3 they would need to gather the Money;OTC sales of XRP(billions)/Expertise in; regulation; testing, cryptography/Range of Products;XRapid,Via,Codius,Ripplenet/ Supporting ecosystem;Coil,Xpring,market makers/Partners and Digital Asset; XRP plus cobalt.
  44. 3 points
    Julian_Williams

    Epic Pennant on BTC Chart

    Yeh lets ignore all them softies with broken hearts....keep up the amusing commentary. Hope you nailed it.
  45. 3 points
    dr_ed

    Welcome To Our World, Bob

    I thought the shoe was a nice touch. I think most of us were comfortable it was the real Bob once David Schwartz showed up to say hi. I do understand those who wanted real proof. I think Bob's bona fides are now well confirmed now and we can just move on. I, for one, am looking forward to really learning more about untapped use cases for XRP.......of which I'm persuaded the surface has barely been scratched. XRP is the elephant in the room, and I'm just a blind old man touching one spot on its hide and really wishing I could begin to see the bigger picture.
  46. 3 points
    BobWay

    Answer: So what's my real price?

    Really sorry to be slow, but you asked so nicely let's talk. So let me tell you what happened. I bought some XRP a long while back when it started spiking towards a penny. Keep in mind I was poor, really poor. Bad life decision like owning two house mortgages at the same time and having no jobs during a downturn really sucked. Worse, my wife had gone back to school to get her doctorate. The house we moved out of wouldn't sell at the prices the realtors' said it would, and it dragged on an on. Like I said "be skeptical of everything". It turns out the realtor's incentive is a higher commission and that is tied to price. We didn't realize that. We just presumed, you know, "expert!" In the end we fired the expert and FSBOed the house to save the commission and negotiate our own deal. That went much faster, but time is money and that extra year of double mortgages sucked us dry. So I didn't tell anyone, but we were pretty underwater when I went to work for Ripple. I jumped at the first salary offer Chris made. It was a good offer. Chris didn't know I was desperate and knowing him as I do now, if he knew he would have certainly offered me even more. Chris is just that kind of guy. Way back at the beginning you were allowed to take XRP in lieu of salary. Ripple always used the Bitstamp price because it was the deepest market at that time. I had opted not to buy XRP when I joined Ripple, because I've said elsewhere I came into the company excited about the trust lines and rippling features. Not because of XRP. But after a few months, Arthur Britto asked if I had bought and XRP so I told him no. He knew why but he said something to the effect of, "Will you feel bad if the price of XRP goes up and you don't benefit from it, after being responsible for it?" And I thought about it and said to myself, "Yes, that would make me suicidal!" So as an insurance policy, I considered buying some. Now when you are deep in debt, it's pretty hard to say to your wife, "You know, instead of that USD we need so much to get us out of debt, gee, I think I'd like to take my salary in "magical internet money". At that time the general public and my friends though cryptocurrency was weird and silly. The were OK on something I loved and getting paid. But they thought of that as deciding to work without getting paid. Which was crazy. They worked for real money. But I did. And she is so awesome she went along with the idea without a single criticism. For three months. This was happening over a period where, after a long flat period (just a few months for me, but long for those in before me) the price started to "spike" everyone was speculating it might go over a penny! So I had to rush my plan into action. It went up and down and up again even over a penny at the end. To me, I only cared about the price on payday. In my head, the way I remember it, the first month, I got a certain amount of XRP. You don't really remember the price, because in those days we used the inverted price we would talk about how many hundreds of XRP you go for your each dollar. Not the price of each XRP. The next month I was ecstatic because I got way more XRP! And in your head that really seems like a raise! (of course you think the price crashed and you are right!) But I didn't think a second about that. Because I used to be an idiot about money. I was working for the cool technical challenges. The third month I got even less that in the first month. Which to me was really depressing. Because my goal of XRP was to have a bunch "for the long term" whatever that means. The next month, my lovely wife said, "You know. You can keep getting XRP for as long as you want. But... We really need the money." So I was done. And completely happy with my purchase. But everyone at the office was watching the price and I was trying not to because of the anxiety it causes me. But still there was no way not to know... that it was trending slightly down. And of course you think to yourself, "should I sell now, and buy it back when its lower" and you get even more anxiety. But will I screw up and miss a spike or the bottom? And you remember, "I bought this for the long term". So finally, I decided to hold it and ignore it at least until I was ready to leave Ripple. Because the nice USD salary was good enough for us to live comfortably. So that's that. ------ Well not really. The price kept trending down and down and down and down. On average I bought for about a penny (in my head) and the price trended down to a low of around 0.3 cents. Then for a while it came back up and hovered in the 0.6s. Truthfully, I tried not to look past the first digit. The other digits gave me anxiety. So if the first digit stayed a 6 everything was flat to me. On the display the prices looked like 0.0006. We called that "four zero 6". So one thing I didn't mention is that before I started at OpenCoin, I had found a bug in the trading engine. It wasn't like I was a genius. I just saw something that didn't make sense to me, but I didn't know what it was supposed to be either. So I asked a Canadian guy in the forum who had started with Ryan Fugger's Ripple Pay almost 10 years before. (He was one of the people that taught me all of what I know) He said, "Yep, you've definitely found a bug!" I said, "****, will you file it? I have no idea what the bug even is." So he did. The magically ahbritto who at the time we didn't even know was named Arthur, sent us each a bug bounty of 100,000 XRP! It was mind blowing to me at the time. The give away had given me 20,000 XRP. The bug bounty was like getting five extra giveaways! The total amount was probably worth maybe three hundred dollars at the time. But it was a really big number and it made you feel cool!, because most of the other people in the forum and stated their stash from the give away. That was max 50,000 XRP if you were there in at the beginning. Most people had more than 20,000 but less than 120,000. So you got to fee "rich" within the forums. Few people were accumulating large amounts of XRP. Most were just learning and testing the system out. And it was hard to buy XRP because you had to first deposit USD into a gateway, and to do that you had to be KYCed and jump through some hoops... But getting dollars inside Ripple was easy. You could just buy them on ledger from someone who had jumped through the hoops, using your giveaway XRP. That way you didn't have to jump through hoops and KYC yourself, so most people didn't bother making KYCed accounts at a gateway. ------ So now years later, I have two stacks of XRP. The remains of the 120,000 in the ~reddog amount. (a little more than 75,000 left) And the salary in a secret stash. (and I still haven't told you your answer, but I'm tired. I'll have to finish up tomorrow.)
  47. 2 points
    Effects of a long bear market, I'm sure once things pick up attitudes will change for most. But you can't please everyone , I say stay away from negative people, they have a problem for every solution.
  48. 2 points
    Tbh, I don't know much about Jed and hence don't quote me on these points: He programmed Mt. Gox the first cryptocurrency exchange He practiced insider trading with Mark Karpeles during Mt. Gox times and manage to avoid the can. He innovated XRPL. He was there even before David Schwartz or Arthur Britto joined to Opencoin (Ripple Labs). He has been in Stellar since 2014 and is in bed with IBM quietly building something and tomorrow they will make an announcement about a product... In below is an old and long story but it is worth reading: https://observer.com/2015/02/the-race-to-replace-bitcoin/
  49. 2 points
    Get a free cloudflare account and pop the forum behind that. They probably even already tried that, judging by the certificate that was served a while a few days back. Alternatively communicate with the community if someone would be interested in taking this over (hosting an old php forum is not a thankful job, but the stored history and knowledge alone might be worth it). I don't know about the DoS problems (it was available for me when I looked), so I don't know what the type of these attacks was and if a read-only mode would have helped. They don't owe me anything (other than the most recent bug bounty that still isn't paid after a week), I did this as a volunteer. I just feel frustrated because I at least hoped that this is at least being appreciated somewhere by someone and not just cast aside without further notice.
  50. 2 points
    Truckdriver

    Hi! I'm Bob

    Nice , you trying to impress the ladies. Well this is how I do it .
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