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  1. 56 points
    jbjnr

    Q1 2020 ODL report

    I wrote down much of what I've posted here before and tried to make a blog article out of it, but I'm not much good at html formatting and the graphs have come out terrible. I tried to put them into a coil article first, but that looked even worse and I gave up. (For curiosity, I wanted to see how well the web monetization stuff works using coil - no I don't need the $, but I'm curious to see if it works - and no - It doesn't for me at all anyway as I don't use twitter and the xrp community blog needs it). Anyway, here are my findings. https://xrpcommunity.blog/2020-q1-unofficial-xrp-odl-analysis/ I Opened up a new topic, so that Q&A could go here, but if this belongs in "press" or one of the other self promoting blog sections, mods please feel free to move it. TL;DR = quite a lot of ODL traffic. Things looking good for the future.
  2. 55 points
    Hodor

    Cessation of the Hodor Blog

    Final message! XRP Chat is where it all begin, so it's fitting that for this avatar, it's where it ends as well. It's been a journey with countless twists and turns, and try as I might, all the details have melded into a chorus of voices of the XRP Community, who, at their core, are all pushing for the same thing: Change. Sometimes I wonder how members of other coin tribes feel about the project they're supporting. Does it inspire them? Do they believe in it past their surface financial goal of 'getting rich' off of it? Because, for XRP, it's more than just a 'good stock pick;' XRP represents the technology that delivers on Bitcoin's promise, without the environmental destruction. Without the limitations of scalability ... and so much more that I have to resist reneging on my decision for one more, long, convoluted rant! You get the picture! We're here for the investment (XRP), but we're also here because we believe in the Internet of Value, and pushing this technology forward. It can change the world for the better, and not just as part of a slick corporate advertising campaign; when people can send money to their family in seconds instead of days, it can significantly improve lives for millions of people. And just look how the XRP is changing the face of crypto communities, with its teamwork, awards shows, clubs, social media presence, and charitable fund-raising. These are all extraneous to the IoV and XRP, but they also work to give us a legitimate feeling of community. And with the developments in the last month, my right-brain, intuitive side, which normally performs a lesser role in my day-to-day activities than my methodical, step-driven left-brain side, took the reigns and decided to make a key decision; how do I want to contribute going forward? I could continue to struggle to cover all of the increasing onslaught of news items, or I could turn and survey the growing ranks of our collaborative team of supporters and let somebody else 'take a turn' at the front. I could take up a keyboard and mouse once more, but this time to create new websites and applications. Ah well, I'm getting repetitive of the content in the blog. My apologies for being temporarily self-indulgent, but I know my companions on the forum will not judge me harshly about my last post. At least I hope not. Hope to be back soon, with some announcements of a new project of my own!
  3. 52 points
    Late last year, Xi Jinping gave a speech declaring that blockchain technology presented an important breakthrough on several key areas within China and that the government intended to utilize the technology. Xi Jinping claimed that the development of distributed ledger technology provided a pivotal moment in which it allowed the Chinese state to reform and improve the inefficiencies found within the Chinese financial market. Stating that “It is necessary to explore the application of ‘blockchain’ in people’s daily life, and actively promote the application of blockchain technology in the fields of education, employment, pension, data-driven poverty alleviation, medical health, anti-counterfeiting, food safety, public welfare, social assistance, etc”. (1) Xi’s speech was in stark contrast to China’s previous posture on blockchain technology, specifically on cryptocurrencies such as BTC. But the public statement displayed that the Chinese government had finally come to an understanding on the potential blockchain technology can provide to the state. Unfortunately, most crypto evangelists took the speech to mean that the Chinese market was opening itself to the publicly traded cryptocurrencies found in crypto exchanges. An appreciation in the total crypto market capitalization only reinforced this notion that China was simply going to adopt the current, open source blockchains present. Weeks passed and China’s historical stance on cryptocurrencies was further fortified when several crypto exchanges halted or ceased services amid speculation of a crackdown within the country. (2) A contradicting development to Xi’s previous speech earlier in the year. However, there has been collaboration and developments by the state in the background that would corroborate Xi’s statements. Financial Access 2020 The foundation was laid at the 2015 World Bank Group–IMF Spring meetings. These meetings resulted in the establishment of the Universal Financial Access 2020 (UFA2020) initiative. The World Bank Group along with both private and public sector partners, committed themselves to promote and enable global financial inclusion in a multi-year program. With the intentions of enabling individuals who are not currently connected to the financial system, to have access to a transaction account to store money while also being able to send and receive payments. Setting a goal of enabling one billion unfinanced individuals to gain access by 2020. Their approach being the development of a platform that has a biometric identity database, virtual payment addressing, and digital payment interoperability. (3) At the time, there were over 30 partners that committed towards the UFA2020 initiative. Participants that now include the likes of Alipay, Du Xiaoman Financial (Baidu), BBVA Microfinance Foundation, CFPA Microfinance, Confederation of West African Financial Institutions (CIF), MasterCard, Pakistan Microfinance Network, State Bank of India, VISA, etc. (4) With each of these partners doing independent projects or collaborations to meet the UFA2020’s target. One such program that was spawned from the UFA2020 initiative, was the Financial Inclusion Global Initiative (FIGI). A three-year program formed by the collaboration between the World Bank Group, the Committee on Payments and Market Infrastructure (CPMI), and the International Telecommunications Union (ITU). The program is funded by the Bill & Melinda Gates Foundation. (5) Their collective goal is “to support and accelerate the implementation of country-led reform actions to meet national financial inclusion targets, and ultimately the global ‘Universal Financial Access 2020’ goal”. (5) This subgroup plans to utilize the “work of the CPMI-World Bank Group Task Force on the Payment Aspects of Financial Inclusion (PAFI), the BMGF’s Level One Project, and the ITU Focus Group – Digital Financial Services, to deliver implementation solutions, deep topical analyses and practical investigations, working toward the goal of Universal Financial Access by 2020”. (5) Bill & Melinda Gates Foundation’s Level One Project is recognized by followers of Ripple due to the project’s development and intention of utilizing the Interledger Protocol to address interoperability between financial systems while helping lower the costs in developing inclusive payment platforms. Thru panels held at the FIGI symposiums, there is apparent dialogue and collaboration between the FIGI organization, the World Bank, and Ripple. (6) China The main purpose of the FIGI receiving grant money from the BMGF in 2017, was to accelerate financial inclusion in developing countries. With three countries being selected to be the focus of the initiative. Those countries being Mexico, Egypt, and China since they contain millions of unbanked individuals. (7) Ultimately, the development and progression of the initiative will be used as models for digital financial inclusion innovations around the globe. And regarding the selected countries, the People’s Bank of China (PBOC) specifically requested support from the World Bank Group to aid in bridging the gap between the Chinese financial system and their citizens found in remote areas. (7) Interesting enough, the FIGI initiative aligned with other partnerships and projects in 2017. Partnerships that were composed of Ripple, Huawei, Mojaloop, etc. As some in the Ripple/XRP community might remember, officials from the PBOC visited the San Francisco Ripple offices in August 2017. (8) The community speculated on numerous possibilities on why Ripple was being visited by PBOC officials but there was no disclosed explanation of the meeting between Ripple and the PBOC. But looking at other announcements from 2017 chronologically, some perspective on the PBOC and Ripple meeting can be gained. First, the PBOC sought guidance and help by the World Bank Group to foster financial inclusion innovation within the country. The FIGI under the UFA2020 initiative, choose China to be one of the three countries focused on fostering innovation early 2017. In August 2017, the PBOC visited the Ripple offices in San Francisco. Two months later, BMGF and Ripple’s collaboration and development on Mojaloop was publicized. (9) Yet one aspect of the announcement on Mojaloop that was overlooked was that four mobile systems companies were brought to help develop an Open API for mobile money interoperability. Those companies being Ericsson, Telepin, Mahindra Comviva, and Huawei. (10) And with a document from the International Telecommunication Union (ITU) on “Digital Currency including Digital Fiat Currency”, we know that the Mojaloop API was designed by the four mobile companies that included Huawei. (11) Huawei and the BMGF have also been collaborating on promoting interoperability and financial inclusion since the previous year. Late 2016, Huawei announced partnership with the Gates Foundation on the Level One Project. (12) With the partnership focusing on developing “scalable, low-cost, interoperable and fraud resistant payment systems will be based on open Application Programming Interfaces (API’s) and help people in the world’s poorest regions improve their lives and build sustainable futures by connecting them with digitally based financial tools and services”. (12) Coincidentally occurring right when the Mojaloop API was being developed in the same Level One Project. Nonetheless, the Mojaloop API seems to be both an innovation and solution both Huawei and the BMGF sought to develop in their partnership. We know that the BMGF and Bill Gates himself, have been aware since 2016 ,of the potential revolution the Interledger Protocol can bring to the financial system1d. With Bill Gates even recognizing how Ripple’s technology can move money across countries efficiently and cheaply. (13) Although Ripple’s known involvement in China is thru LianLian Pay and some possible penetration thru third parties such as AirWallex, there appears to be a potential utilization of the Mojaloop API thru Huawei in FIGI’s project within China. This can potentially explain why Ripple expanded into China with the opening of offices in the country. (14) Outside FIGI Outside of FIGI’s scope in China, there are other developments with UFA2020 affiliates forming and investing in projects that could leverage the Interledger Protocol. A recent example involves a group of Ripple investors and partners raising capital for Currencycloud. Currencycloud is a UK startup that has developed remittance APIs that allows any financial business to integrate money transfer services thru Currencycloud’s platform. A duo of Ripple shareholders in SBI and Siam Commercial Bank participated in the Series E round for the UK startup. But interesting enough, VISA and the World Bank Group’s International Finance Corporation also partook in the series round. (15) Two key members of the UFA2020 initiative. These investors intend to promote and utilize Currencycloud’s API for cross-border payments. While VISA has also entered a partnership with the UK startup. Thrugh the partnership, VISA plans to expand and improve their services by using Currencycloud’s platform. (16) Yet Currencycloud has another notable partnership with the Ripple associate, DWOLLA. DWOLLA is not only known for sharing a seat with Ripple on the US Faster Payments Council but more importantly, for their collaboration in developing the Mojaloop platform. (17) DWOLLA will be leveraging the UK startup’s platform to expand their network for coverage on 38 currencies in 180 countries. (16) And on a final note, Currenycloud has an impressive group of clients that includes The Bill & Melinda Gates Foundation. (16) Furgther adding another affiliate to the assortment of UFA2020 and Ripple partners involved with Currencycloud. (16) Looking at announcements or projects through the perspective of promoting and expanding the Universal Financial Access 2020 initiative, one can conceivably see the purpose and structure of collaborations done by Ripple associates to possibly promote adoption of the Interledger Protocol. 1. https://medium.com/@mablejiang/xi-jinpings-speech-at-the-18th-collective-study-of-the-chinese-political-bureau-of-the-central-1219730677b2 2. https://cointelegraph.com/news/china-5-crypto-exchanges-halt-or-shut-services-amid-perceived-crackdown 3. https://www.worldbank.org/en/topic/financialinclusion/brief/achieving-universal-financial-access-by-2020 4. https://ufa.worldbank.org/en/partners 5. https://www.worldbank.org/en/topic/financialinclusion/brief/figi 6. https://twitter.com/DougMPearce/status/936176649963388928?s=20 7. https://www.devex.com/news/3-model-countries-selected-for-a-new-financial-inclusion-initiative-90778 8. https://twitter.com/Ripple/status/902201846592184320?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^902201846592184320&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fripple-talks-with-peoples-bank-of-china-key-to-chinese-blockchain-market 9. https://ripple.com/insights/news/ripple-the-gates-foundation-team-up-to-level-the-economic-playing-field-for-the-poor/ 10. https://www.gatesfoundation.org/Media-Center/Press-Releases/2017/10/Bill-Melinda-Gates-Foundation-Releases-Open-Source-Software-to-Expand-Access-to-Financial-Services 11. https://www.itu.int/en/ITU-T/focusgroups/dfc/Documents/FGDFC-O-003.pdf 12. http://carrier.huawei.com/minisite/software/mobile-money/foundation.html 13. https://ripple.com/insights/why-bill-gates-believes-2016-will-be-the-year-of-financial-inclusion/ 14. https://www.asiacryptotoday.com/ripple-plan-expansion-to-shanghai-china 15. https://techcrunch.com/2020/01/26/currencycloud-nabs-80m-from-visa-world-bank-group-and-more-for-its-cross-border-payments-api/ 16. https://www.currencycloud.com/company/clients/ 17. https://modusbox.com/announcing-mojaloop-io-an-open-source-software-platform-for-financial-inclusion-to-uplift-the-worlds-poor/
  4. 51 points
    I've seen a number of youtube personalities discuss the idea of the XRP escrow being preallocated for use by global central banks as collateral for the issuance of digital fiat currency and effectively creating a montary value 'reset.' I've gone on their streams and tried to indicate a number of issues that rise with the use of digital assets as collateral, but I do think excitement has taken over the space and folks are just not taking the time to see this through. Somewhere back in the past, I wrote comments about how I thought companies like OMNI were really important for the XRP ecosystem, because they were providing redeemable contracts on the XRP ledger attached to tangible assets. When you establish a contract whereby an asset becomes redeemable in XRP - for example, by making a deposit for a leased object redeemable in XRP, or issuing a loan that is payable in XRP - you are increasing the market value of XRP by the amount of the redeemable asset. This is one of the thing that make open and free exchange markets so valuable to fiat economics - there are tangible assets, services, contracts, etc. that are redeemable. Take a 5 USD silver note - that was redeemable to the bearer, at one time, for $5 worth of silver. Asset-backed currencies have value because their notes are redeemable memos that can be settled for real assets. Now consider the role that crypto lending in CDP or collateral debt positions play in transforming the landscape. When you have a mortgage on the book in your name that is secured by the home you have possession of, there are limitations to what you can do with that home. A home with liens against it is taken out of the inventory pool. It no longer contributes to the available assets that can be redeemed with fiat currency. In many ways, a cap on tangible productive assets (and people) introduces a cap to the aggregate value of the fiat currency of a country. No assets to trade = no monetary value. Money is worth nothing when there is nothing left to buy. This is a significant issue for the digital asset space, because you have the transformation of asset classes into representative units of exchange (securitize assets, tokenized assets) that produce lien-like impositions on the underlying asset, and representative debt position that use digital assets as collateral (CDPs). And you will very soon have cascading combinations of both. One day, you will have the ability to take Apple stock in your portfolio tokenized, and you will be able to draw digital asset credit lines based on the deposit of those tokens in your digital wallet. As the tokenization economy expands, more and more conventional stocks will be encumbered, translating the stock exchange mechanism from one of stock trading to one of securitized token trading. It will not be possible, one day, to own actual stock. It will only be possible to own and trade representative tokens of a given stock on various platforms. The impact this will have on the price during the shift will be volatile and then normal as volume shifts markets. Today, you can deposit your tokens with a company like Nexo, get a credit line advance and spend it. This is non-taxable - its secured credit. But this also takes those assets out of circulation - staked tokens that have liens against them are off the exchanges, so far as I can tell. I have asked a question on Quora and requested David to respond regarding hte potential of rehypothecation of assets on the ledger. For those who are unfamiliar with the practice, and how it contributed to the housing bubble and the inevitable collapse of the hyperinflated price bubble - the best way to think about it is like this: blockchain has many features that prevent the double-spend problem from occurring. Rehypothecation of collateral assets is a form of intentional double-spend - where the same underlying collateral asset is treated as if it is owned by two different parties (or more) at the same time. Max Keiser has done videos discussing how rehypothecation has been used between physical delivery and metals and paper metals contracts to manipulate the price of precious metals. So assuming that blockchain ledgers, as a feature, make rehypothecation impossible - this single feature alone makes digital currency one of the most powerful asset classes in history - if ownership cannot be subverted and the books built on it can be made that much more sound, it is an absolute game changer and you can bet that banks are doing whatever they can to allocate and build their positions in it, even if they are dormant and waiting on regulation to actually put those assets into motion. They are buying the fields but waiting for zoning clearance to build houses. What to do in the meantime? These banks are incentivized to keep prices low and sideways, particularly after a protracted bear market where investors have hyped in and are now overleveraged. Companies like Nexo (not saying they will do this) will be very clear about how safe their custody solutions are, and how large financial powerhouses like Lloyd's of London will back their deposits. People will read articles about how they can use a fusion of dollar cost average in bear phases and collateral debt reinvesting during bull phases to grow their stacks without adding more capital in changing market conditions. But consider the impact this ever-increasing CDP market will have on scarcity of inventory, and the inflated pricing effects this creates for deflationary digital assets. More and more liens against digital assets that are not available for rehypothecation and are effectively digitally segregated from corporate funds are locked away from retail markets. Sure, the debt contracts can be traded - and you know this is going to be a new source of banking revenue. But if digital assets are not subject to the same dubious supply issues as precious metals, price increases are inevitable. This is the first wave of the slow bull drive, but it is not the real issue. In times of crises, we have already seen that the transition from asset-backed currency to others results in the confiscation of real assets when times get tough. Owning gold can be made illegal illegal. You can be asked to forcible sell your ounces of gold and silver for face value prices, only to watch the values of metals skyrocket once they are in government possession. History has taught this lesson, are cryptocurrency investors paying attention? Mark my words, as more financial institutions get involved in the business of operating digital asset holding accounts backed by the FDIC we will see unusual shortages, hacks and losses that will amount to voluntary digital asset confiscation. Sorry, your assets are in another castle! ~the FDIC. If I enter into agreement with Nexo by depositing my funds that the collateral assets I yield for consideration are protected to market value by Lloyd's of London, make no mistake that in the event of a fiscal crisis or pending shift in economic situations I will not be able to withdraw my digital asset, but will instead be bought out at market price by Lloyd's - who will then own my digital asset and I have cash. I'm not picking on Nexo - I use them a little bit. I may use them more when I wish to cash out without cashing out. I think the service that they and Binance and others will offer is a valuable service. But I keep the big bags away from these services. Because there will be a voluntary confiscation event where you will have your digital asset deposits cashed out because the terms allow for it. Folks will go to their account one day and see the cash equivalent of all of their crypto assets in their account. This may be caused by a manipulated price event that allows these financial institutions to liquidate your positions to pay off outstanding debt. It may be a "massive security event" that forces insurance to buy out your positions. PR folks are creative. Terms of service that include bail-in clauses are not the only tripwire to watch out for for investors right now in finance. But to go back, there does not need to be a preallocation event for this to occur - it is already starting now. Go look at nexo's growth numbers, just as an example because they seem to be playing a leading role in the hype behind crypto loans. It would only take a few major household name banks to start offering remarkable credit lines and paying out on crypto loan investments to pull many of these assets off the market while stablecoins are floating around. The volume of encumbered assets of just a few major financial institutions would be enough to significantly increase the scarcity of inventory for most of the top ten assets - and who knows how far down the chain this value would trickle as the top ten coins grow out of reach. The idea that XRP - the escrow - of 55 billion XRP is preallocated to banks and slowly being released to prevent scarcity from spiking is an interesting one, but seems both unrealistic and unnecessary. It would drastically cut the supply of available inventory for trade and ledger functionality - and that is likely going to happen anyway as crypto loans take off and fill the economic role that housing did in the 2003-2007 era. It's not xrapid that is going to explode the price - its the lockup of digital assets in loans. Loans people are taking out now because they needed that seed capital - or someo f it - or they just don't want to sell and deal with taxable events. Etc. Etc. Eventually there will be a time when the underlying digital assets we are able to buy today will simply not be available for purchase - only their derivative products. It's going to be a totally remade financial landscape. And if digital assets do become part of a collateral plan to convert to digital currency, hold on to your butts and resist every temptation/trick to sell until you are absolutely ready to let your assets go - I definitely assume that any crypto I put up for loan collateral - even if I have no outstanding credit lines - will eventually be converted to fiat without my consent before this is all over. But those cold storage hodl bags... not your keys, not your crypto.
  5. 51 points
    https://www.xrparcade.com/news/swell-summary-for-the-xrp-community/
  6. 48 points
    Since 2012, Ripple has been committed to advancing the XRP Ledger as an open, decentralized system for payments. We have worked together with the community to dramatically increase the decentralization, performance, and feature set over the last seven years. Ripple’s vision for the XRP Ledger is for it to continue to provide the best interoperability with Interledger. Key to this vision is for the XRP Ledger to remain best in class in security, performance, and settlement features. We’ve been working on a number of possible features and design changes that could be introduced to the XRP Ledger, and we want input from the entire community about these features. How helpful are they to the use cases that the community is currently pursuing? What changes are developers and contributors to XRP Ledger interested in implementing? Today, we are posting descriptions of many possible enhancements to the XRP Ledger. They fall broadly into three categories: Consensus: Consensus is the heart of the XRP Ledger. It’s the way the ledger makes forward progress in a decentralized way. While PoW has provided only limited decentralization and appears to be a technological dead end, distributed agreement algorithms such as the XRP Ledger’s consensus algorithm provide real decentralization and continue to improve in their performance and reliability, year after year. Several of the suggested enhancements focus on improving the robustness of the XRP Ledger’s consensus mechanism. Performance and Resource Consumption: Due to the nature of public ledger systems, every on-ledger transaction imposes some resource costs on every participant. This creates a trade-off where increasing the transaction rate and lowering transaction fees can increase operational costs and drive some participants out of the ecosystem. Keeping resource consumption down increases the set of participants who can run their own server nodes, improving decentralization. Some of the suggested improvements aim to increase our understanding of the software’s resource consumption, reduce the consumption of bandwidth and memory, and improve network reliability. Features: The XRP Ledger currently has a sophisticated feature set including account management features, powerful multisigning, a decentralized exchange, and best-in-class support for off-ledger scaling. However, there are always more things it could do. The suggested improvements in this category add new capabilities such as an XRP-collateralized stablecoin and ways to ease the burden of the 20 XRP account reserve. We would appreciate members of the XRP Ledger community looking over these suggestions and providing feedback. Suggestions for other features are welcome as well. Let’s build a roadmap to continue innovating together. You can find all of the suggestions in one place on Xpring's blog post. There are also links there to the individual forum posts for each feature for discussions.
  7. 45 points
    https://www.xrparcade.com/news/ripple-to-complete-global-coverage-by-mid-2021-and-plug-moneygrams-cash-payout-to-ripplenet-this-year/
  8. 41 points
    I have been threatening to do this for some time: Crypto @Eri produces bulletins packed with the latest news about Ripple/XRP, SBI. She provides analysis that is very often unique and insightful and depends on translating Japanese links. The sort of new information that should be discussed on this open forum. My intention is to start a rolling thread of subject matter she is introducing. Bullet points: SWIFT is becoming more accommodation towards collaboration (video clips) with outside companies like R3 - but at the same time they have been dragging their feet over the ISO20022 standards New Digital banks are growing and changing the landscape of cross border remittance industry, and removing the need to use big banks Markus Treacher has announced that new ODL corridors will soon be arriving in Asia-Pacific, Middle East and Africa The remittance industry is worth 500 billion but has contracted about 20% due to the corona virus pandemic. This squeeze is leading to demand for greater efficiencies which can be satisfied by moving to ODL solutions The SME market is being served by new types of banks like Remessa and Bex Banks. These banks serve Brazil/ Argentina and Chile using ODL. The market is huge And then there is the fluff - cultural news from Japan - I will let you find out for yourself. So everybody - let's beat the negativity and instead of constantly harping on about price, lets discuss how the network is growing and speculate on where our investments are likely to grow and spread new roots. Eri's Daily Crypto Journal: https://coil.com/u/TheCryptoJournal
  9. 40 points
    Lumpy

    The Jed Attack

    (1/2) - 22 February 2020 Although never confirmed by Jed McCaleb, the "tacostand" XRP wallet (rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv) is well-known to belong to him. A quick look at the wallet and its transactions (https://bithomp.com/explorer/rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv) and you will quickly notice that Mr McCaleb manages his funds following a very strict routine. Every morning at 08:02 UTC, 1.7M XRP are sent to another wallet. The so-called wallet, activated by Jed, is then "in charge" of selling the XRP. A rigorous routine is also in place. Wait 09:00 UTC and you will see on the ledger the first "create offer". Offer that is usually selling 1M XRP for USD Bitstamp (IOU). Keep an eye on the XRP:USD.Bitstamp orderbook and you will see that the order is algorithmically managed. The price (exchange rate) of the limit order is, if needed, constantly adjusted. As an example, last Thursday (2020-02-20), the limit order was canceled and re placed 13 times. Jed aims to sell the XRP. The more the offer is at the edge of / at a competitive price on the orderbook, the more chance it has to be filled. However, this Saturday morning, 22 February 2020, Jed's automated bot sold 1.7M XRP for ... $188,456 USD, meaning that it sold at an approximate XRP:USD price of ... 0.11 USD. The price this Saturday morning being around 0.271 USD. The candle below highlights the magnitude of the slippage. Details of the transactions: https://bithomp.com/explorer/E470541E262C6DA171CFCBBD7A115A0F12EADE6B21360DDDC936723093CF6528 https://bithomp.com/explorer/4D705B1F0EC0C4B3DD01198EBDC01345528067F5CC3C280FB16D1C1FED9A8636 https://bithomp.com/explorer/AD536145D6F76EF8E019E897C200F4635DD20ABEE8EC2B20C9140706057C5E5D A trade has two participants, a buyer and a seller. Selling at a discount of 0.59% means that an individual (or group of individuals) made approx 270,000 USD of profit this morning. Luck or Jed's bot generosity is not, as you guess, the explanation of the dramatic event. The attacker (https://bithomp.com/explorer/raBmhBNmYFGe5hJ5Gez2MbpNspewctCAGv) has been preparing his/her/their coup de grâce. Although only successul today, the attacker has been groping for the flaw. Transaction activities of the wallet indicate that the wallet has been active on the XRP:USD.Bitstamp trading pair for at least two months. The wallet sold this morning around 1M XRP, cleaning all the liquidity / depth of the bids of the orderbook, then placed the first killing order (1) that Jed's bot decide to take, then the second killing order (2). Jed's bot also hit the bid for the latter. (1): https://bithomp.com/explorer/FEDC30F932389FC34D126172E26ACD10D79CAD78ACEA360B44B82ABA25868087 (2): https://bithomp.com/explorer/0E3372A2F43154B02100CEF29C941FBC85084EF2BDCA65FA7DCD4ACA709F214E The attacker does not act alone. Sub-wallets 1 (https://bithomp.com/explorer/rHjzw8L2ZBNhLfWw3yv8AY1hf1QYnRMriR) and 2 (https://bithomp.com/explorer/r9ujfsgebDGPEoQP7WFYcVrhEKQZPKVGd7), activated by the one mentionned above, looked like to have specific roles. Mostly create counter orders, allowing front running kind of strategy. To be continued... Many interesting unanswered questions: - What was the specific technical flaw the attacker took advantage of? - What is the profitability of the attack? (taking into account potential front running costs - previous tests / iterations before finding the flaw) - Will the attack repeat itself tomorrow? / Had Jed noticed the event? (2/2) - 25 February 2020 Yes. As you can see below, the attack was repeated every day since the first successful attempt. More active market participants during the week than the weekend has probably a positive impact (less slippage) on Jed's bot loss, although today's data indicate that the attacker had a +10% discount on the XRP bought. When yesterday, on Monday February 24th, many bids populated the orderbook, therefore reducing the potential slippage and the arbitrage gain, the attacker does not seem to be discouraged. The malicious wallet even sent few payments with some interesting memo (here below) to push for more cooperation... Cooperation that was indeed tried, successfully or not, in the past. Look at the memo below regarding a payment sent early January. A payment got some echo (payback, as a sign of approval for cooperation?) on at least one receiver. Please note that the client description below recalls some other events (https://medium.com/@john.cantell/hi-renier-8f887aee027b). John Nash would have been proud. Even in a decentralised exchange the concept of game theory can stand. Memo can support text messages, allowing market participants to communicate with each other and therefore, look at decision not in isolation but as being part of different interactions. As regards Jed's bot flaw, it seems that the algorithm takes decisions based on: the distance to the best ask: replacing the order to make sure that it is at the edge of the ask side the bid ask spread the volume depth of the bids: Jed's bot hits the attacker bids (in all examples), meaning that Jed's bot decides to hit the bid if the slippage is not too important and if a tight spread (mentionned above) is true Note that the above are assumptions and educated guesses. Digging into the transactions is probably the best way to know more about it. I am quite surprised that (my assumption) there is no outside / off ledger element Jed's bot relies on. For instance, the XRP:USD spot price of another (liquid) market, making sure that the decision to place an order on the ledger at x price is not irrational compare to the latter. The best for that being probably the BitMex XRP:USD spot index (https://www.bitmex.com/app/index/.BXRP). Peace.
  10. 37 points
    One of the original use cases for the XRP Ledger (since 2012) was using the built-in decentralized exchange to exchange between stablecoins and to exchange stablecoins for XRP. Currently, only stablecoins that have a backer/issuer are supported. We propose adding a collateralized stablecoin feature to the XRP Ledger. The key distinguishing property of this proposal is that the stablecoin is always redeemable for XRP on the ledger from the collateral pool. So, for example, if you hold one unit of a USD stablecoin, you can make on-ledger payments at any time just as if you held $1 worth of XRP. We propose a scheme as follows: Anyone may place XRP into a position that they own. If the position is sufficiently collateralized, it may issue a stablecoin. Position owners may adjust the XRP in their positions so long as it maintains sufficient collateral. Position owners may issue and redeem stablecoins in their positions so long as it maintains sufficient collateral. Severely undercollateralized positions may be taken over by re-collateralizing them -- whoever does so keeps the remaining excess collateral. An order book mechanism will be used to permit the stablecoin to be automatically exchanged for XRP by redeeming against the least collateralized positions first. This encourages over-collateralization and cleans up positions that are in danger of becoming under-collateralized Pathfinding will be augmented to use redemption against the collateral so payments with a stablecoin work the same as if you held the corresponding amount of XRP. The scheme is not perfectly decentralized because some organization or federation still must supply the price the asset is pegged to on a continuous basis or the stablecoin will freeze. That organization can set a reserve ratio that they can use to tax the stablecoin system or to provide a reserve to buy out under-collateralized positions. The most obvious application is a stablecoin pegged to a fiat asset such as the dollar. However, stablecoins can also be pegged to the value of precious metals, stocks, indexes, and so on. This post is one suggestion for an enhancement to the XRP Ledger. See this post for context: https://www.xrpchat.com/topic/33070-suggestions-for-xrp-ledger-enhancements/ You can find all the suggestions in one place here: https://coil.com/p/xpring/Ideas-for-the-Future-of-XRP-Ledger/-OZP0FlZQ
  11. 36 points
  12. 36 points
    https://www.linkedin.com/jobs/view/treasury-product-manager-at-bank-of-america-1412930907/
  13. 36 points
    Yahoo Finance UK had an interview with Brad Garlinghouse about MoneyGram investment and xRapid outlook. https://news.yahoo.com/ripple-brad-garlinghouse-multiple-deals-moneygram-050000149.html Key takeaways from the article: "Garlinghouse said active discussions on “multiple” potential investments and acquisitions were currently underway but declined to give further details." “If you’re the Bank of Oscar and you’re holding £1 and you want to shoot a payment over to Mexico, you buy XRP with the pound, that takes fractions of a second on any digital exchange; you move the XRP to an exchange in Mexico, that takes about three seconds, there’s an exchange in Mexico we work with called BitSo; they now have the XRP, they sell the XRP, and they buy pesos,” Garlinghouse said. “It’ll start to ramp in Q4 but really we’ll start to see more consequential volumes in Q1,” he said." “The more liquidity there is, that means the spreads get tighter. The tighter the spreads get, the more efficient that corridor gets. The more efficient that corridor is, the more comes through there. So there’s a flywheel that happens and once you get it moving it starts to feed itself.” “The Moneygram deal is really one of the first scaled use cases of a digital asset in production,” Garlinghouse said. “This is a big deal. If I were betting now, a year from now the Moneygram deal will have a more consequential impact on the crypto markets than the Libra white paper [Facebook’s cryptocurrency project].” "Garlinghouse said he expected “over $1bn of xRapid volume” by the end of 2020." “Banks that two years ago told me: Hey we love your technology, we’re thrilled to be working with you but we’re not going to use crypto. I said OK great. Some of those same banks are now coming back and saying hey let’s talk about that because they see the value,” Garlinghouse said. My thoughts: - I hope the biggest investments and acquisitions of Ripple will be similar than MoneyGram which will provide more XRP/FIAT liquidity and hence encourage xRapid adoption even more. - I don't find it coincidence that Brad is using British Pound (£) as an example. Bitstamp should open GBP corridor "soon" and I hope they will start offering XRP/GBP pairing from the get-go because as an xRapid preferred exchange they would start to gain more revenue from XRP/GBP trading in addition to their XRP/USD & XRP/EUR pairings. - Remember that Brad said a couple of weeks back that Libra white paper brought the best week for Ripple ever and also it was call to action for banks. IMO according to Brad during Q3/2020 MoneyGram should bring even more customers to Ripple than Libra white paper did. We should also see xRapid overall volume around $1bn by the end of 2020. - Remember that in June 2018 Brad said at least one major bank should be using xRapid in the end of 2018. Well, we got Euro Exim bank in end of 2018 and it is not major bank by any means to be honest. Thus, I won't expect any major banks using xRapid in the end of 2019 as well even if there would be some banks asking about XRP from Ripple right at the moment. PS. Credits to Eric Dadoun (@EDadoun) from Twitter for sharing the article.
  14. 35 points
    JannaOneTrick

    Breanne Madigan - OECD

    GLOBAL BLOCKCHAIN POLICY FORUM I want to add 2 notes: If we refer to the current XRP liquidity in the Mexican corridor, we can assume there is approximately 500,000 USD going through it daily (2,170,000 XRP at best yesterday). This is exactly what Breanne said "half a million", and she said "if we want to start sending 10, 15, 100,000,000 USD, how are we scaling that liquidity?" @10:30 That would represent a 200 times fold increase compared to today's XRP usage in that specific corridor. Then, Breanne stated they incentive MM through their structured contracts, to give them a motivation to start injecting liquidity. "But the way we structured these contracts is such that we leave an opportunity for new liquidity participants to enter." @10:50 And because there are new participants, they see enough liquidity in the USD/MXN and so they do not need to further incentivize the market makers. I think it is correlated with the Q2 report in which it is said they would decrease the institutional sales as there is now enough liquidity to support the volume.
  15. 34 points
    XRPwinning

    ODL Viewer

    Been working on a ODL viewer. Has daily info, full history, recent transactions. Let me know if you have any suggestions! I can make the changes asap. Data is provided by Mourads API https://utility-scan.com/#/dashboard Here it is, https://www.xledg.com/
  16. 32 points
    Hodor

    You Are Not Mistaken

    Blog URL: https://coil.com/p/Hodor/You-Are-Not-Mistaken/j65U-s5O0 XRP fans appreciate hard facts and real business progress! I describe why 𝗫𝗥𝗣 𝗶𝘀 𝘁𝗵𝗲𝗶𝗿 𝗽𝗿𝗲𝗳𝗲𝗿𝗿𝗲𝗱 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗮𝘀𝘀𝗲𝘁 and address important news impacting XRP in today's blog: 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐍𝐞𝐰𝐬: Elliptic, a business specializing in AML compliance, receives a massive infusion of capital from SBI in exchange for services, equity & a board seat. 𝐑𝐢𝐩𝐩𝐥𝐞 𝐍𝐞𝐰𝐬: Ripple is sending three representatives to the OECD's two-day conference in mid-September; Kotak Mahindra shares its perspective on Ripple technology in a recent video; Henrique Teixeira, Ripple's Director of Strategic Relationships in the Americas, is scheduled to participate at Cl@b2019; Identitii files a U.S. patent that includes multiple references to Ripple and XRP; Four more banks sign onto Money Tap, SBI's domestic payments platform; Ripple hires Ron Hammond as their Manager of Government Relations; and Equilibrium publishes a new guide for configuring two Interledger Connectors; 𝐂𝐨𝐢𝐥 𝐍𝐞𝐰𝐬: The W3C's Ian Jacobs publishes an interview with Stefan Thomas; Stefan Thomas and Adrian Hope-Bailie will be attending TPAC2019, the W3C's annual meeting; and I highlight seven content creators on Coil; 𝐗𝐑𝐏 𝐍𝐞𝐰𝐬: The Japanese XRP Meetup organizers publish more information; King Blue's fundraising for St Jude using the XRP Tip Bot now exceeds 100,000 XRP; Jonny Lawrence publishes a new GIF, following the one that went viral days ago; and JannaOneTrick publishes a regulatory fan video; I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  17. 31 points
    JASCoder

    ATH ODL Jan 17, 2020

    Follow-up - Bitso trade volumes DEC2019 thru JAN2020 - Patterns of ongoing deployment... As promised, please reference marked up chart below for your interest. Before I forget, I want to add one more tidbit of info related to the DoM (depth of market) costs that I've also been computing and capturing into a database... If you caught that recent comment from a Ripple Labs official, they described the following (paraphrased): "WU can charge up to 10% for cross-border remittances, we can provide the same for only 2%" Now, what's interesting about this, is the BASELINE ODL costs I've been seeing for the BS-buy and Bitso-sell, factoring for the FX rate and the DoM books, has in general been running at around 0.8% - sometimes low as 0.4% at lower volumes - BUT YESTERDAY, I was seeing around 1.2% and lower, which is obviously directly related to the higher volume they are driving on this corridor, coupled with the "re-balancing" rates with the arbitrage processes. So what we're seeing in the hard data, IS aligning with official comments - and also implies that the additional overhead costs (plus profits?) are the additional 1% to result in their claimed "2%" total cost. I'd like to add, that I believe once the liquidity is deeper, and the volumes are higher, they'll get the baseline "friction" down even lower. This will be fascinating to watch for What you see in the chart below, is three key points: Weekends and holiday periods are a bit chaotic - I also saw this around our Nov 2019 Thanksgiving time (see posts in Bitso thread). Before the late Dec. "madness" period, we were seeing a slow and steady ramp up of weekday volumes. The two post-madness period (J2/J3) we see a re-establishment of weekday volumes, and yesterday's heavy 2.11m volume (2nd ATH recorded) - combined with four days of increasing volume, depict the heaviest week evah ! NEXT WEEK SHOULD BE INTERESTING, eh mates ?!!
  18. 31 points
    Alex Cobb 24/7 ODL Transactions Alpha version Here is a preview of the stream The info displayed (in this version): Transferred amount (in XRP, USD) From exchange - To exchange Likelihood it is an ODL batch of transactions 24 hour volume and number of ODL batches For now, it seems Ripple is merging many small transactions into batches of 40k XRP transactions. So, as of now, it takes a little while to see those batches showing up on screen, because of the current volume on Bitstamp, Bitso and Coins.ph. Every 15 minutes or so, a new batch of 40k XRP ODL shows up, at the time of writing this, the first day of this stream. This is by no mean a representation of any pattern for any given day. Sunday was very active compared to Monday for example. It is likely we see the pace getting faster as time goes by. This stream will be live 24/7, Alex Cobb will still stream on normal hours as this one will be running on the side. As additional tools, you can check Volume (Bitstamp to Bitso, Bitstamp to Coins.ph) https://public.tableau.com/profile/hmatejx#!/vizhome/xRapid_search/xRapidtrafficTag and Bitso Liquidity https://docs.google.com/spreadsheets/d/1pZ2POpljERK-oV3rusaCmq58U2badn5i9WOCIP9Wtmg/edit#gid=1888946776 _____________________________________________________________________________ Edit to show some of the bundles _____________________________________________________________________________
  19. 30 points
    Hypothesis: Ripple has decided to seize upon the looming messaging app payment revolution in addition to their known efforts to engage payment companies for cross border remittance. 1) A Year ago Ripple hired Amir Sarhangi away from Google. "Sarhangi joined Google through its acquisition in 2015 of Jibe Mobile, a startup he founded and led that developed technology for wireless carriers to adopt Rich Communication Services." Beyond whatever organization and leadership skills he may possess (which I am in no position to assess), his innovation with RCS is very important. 2) RCS is the SMS replacement that allows for robust data and provides important business opportunities for both consumers and business messaging. It aspires to be more interactive and interoperable than SMS and has the potential to replace apps - you wouldn't have to download the Domino's app to order a pizza and collect cholesterol points if you can do it in the same chat your train tickets are in. Same with passes, travel, etc. This, in turn is handy for corporate expense accounts and group chats. With instant, trackable data, it could make customer engagement easier. 3) Sarhangi's Jibe Mobile was an RCS innovator providing cloud-based virtual IMS, IP messaging, video chat, and developer API gateways to mobile network operators. Building on this, Google announced it has worked with every major cell phone carrier in the world to adopt RCS as of 2018. Here is a slide from one of his presentations with Google (and GSMA) about the potential benefits: 4) Why does Ripple care? WIth great potential for mobile payments and mobile banking, it pays to care about RCS. Mobile payments are inclusive and open up, quite literally, the whole world as a market. Remember, Asheesh Birla said that Ripple considered giving away XRP to everyone in India but decided instead to target telcos & mobile phone providers where banking actually occurs: In a recent interview, he expressed exciting ideas about the global nature of cross-border payments that comport with this: 5) Messaging apps are the future of payments, and the competition has a head start. WeChat, the holy grail of messaging apps (well, it's big any ways), is the kind of thing Ripple enthusiasts hoped would adopt XRP. Facebook and iMessage already allow for P2P money transfers but increasingly the push is towards using messaging for POS. LG recently entered the RCS payment race with a trial of the Cross-Carrier Payment System. The system uses blockchain because, " it works via APIs it can be effectively coupled with RCS enabling frictionless yet cheap local and overseas payments." While MoneyTap is a push into the arena utilizing Ripple, there is great incentive for Ripple to bring the instant settlement of an XRP based product to market over RCS. 6) Sound like lot of data? It is, hence carriers rolling out 5g. Somebody has to pay for all that RCS data. This, too, is an arena where mobile operators are looking into DLT for streaming charges, and cross border digital wallets; again a perfect XRP use case. This report is from Accenture, a Ripple enabling pay channel. Imagine both consumer payments over RCS and the and the charges for the data moving over the XRPL independently 7) There are two snags with RCS. One drawback is that like SMS, messages are not end-to-end encrypted. Second, Apple has resisted RCS preferring their integrated apps. There are hints though that they are coming around - if every carrier adopts the RCS protocol, then pressure will mount to join. 8) Sarhangi is an RCS pioneer, someone who can help Ripple integrate into mobile networks. Perhaps his hire was an indication of a direction Ripple is pursuing to capture mobile payments. (apologies for stilted posts - were originally tweets, but just too long) References 1) https://www.reuters.com/article/us-ripple-moves/blockchain-startup-hires-away-googles-messaging-tech-leader-idUSKCN1N02QA 2) https://www.digitaltrends.com/mobile/what-is-rcs-messaging/ 3) https://www.gsma.com/futurenetworks/wp-content/uploads/2018/03/Google-Amir-Sarhangi-MaaP-Seminar-MWC18.pdf https://www.rcrwireless.com/20190408/opinion/rcs-texting-reader-forum 4) https://www.express.co.uk/finance/city/987173/Bitcoin-price-ripple-india-cryptocurrency-ethereum-BTC-to-USD-XRP-news https://dailyhodl.com/2019/09/11/ripple-exploring-entry-into-global-micropayments-industry/ 5) https://cardconnect.com/launchpointe/payment-trends/messaging-platforms-pos https://ripplecoinnews.com/lg-corps-and-cbsg-consortium-plans-to-rival-ripple-trials-cross-border-payment-solution 7) https://www.forbes.com/sites/quora/2017/06/16/what-is-apple-business-chat-and-why-is-it-important/#2136c30b19c0
  20. 30 points
    JoelKatz

    Suggestion: Light Accounts

    Light accounts would allow a limited account to be created without having to pay the 20 XRP reserve. Instead, a 5 XRP reserve would be paid. Light accounts would be limited in their function but they could certainly hold, receive, and send XRP. There are some options around what features a light account would be permitted to access. Light accounts could be permitted to have a single multisigner list or they could be permitted to have a small number of payment channels or escrows. Likely they would not be permitted to have any trust lines or offers. This post is one suggestion for an enhancement to the XRP Ledger. See this post for context: https://www.xrpchat.com/topic/33070-suggestions-for-xrp-ledger-enhancements/ You can find all the suggestions in one place here: https://coil.com/p/xpring/Ideas-for-the-Future-of-XRP-Ledger/-OZP0FlZQ
  21. 30 points
    Hodor

    XRP: Limitless Scale

    Blog URL: https://coil.com/p/Hodor/XRP-Limitless-Scale/MfAIXnQiD XRP can scale to unlimited heights. Find out more, along with my breakdown of the latest pivotal news about the US Federal Reserve's decision to build "FedNow:" 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐍𝐞𝐰𝐬: The Federal Reserve decides to 'build their own' with the latest news about a new system called FedNow. 𝐑𝐢𝐩𝐩𝐥𝐞 𝐍𝐞𝐰𝐬: MoneyGram conducts its quarterly earnings call and discusses their Ripple deal in depth; ChainTalk interviews Tomohiro Yamaguchi; and an XRP fan analyzes Ripple's UBRI initiative. 𝐗𝐑𝐏 𝐍𝐞𝐰𝐬: Coinfield and Omni create XRP Validators in support of their business; CEX, a UK-based platform, adds an XRP-GBP pairing; and DOBI, an innovative Chinese company that specializes in ATMs and 'wearables,' decides to support XRP. I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  22. 29 points
    https://occ.gov/news-issuances/news-releases/2020/nr-occ-2020-98.html credit to XRPDarren @Fame21Moore for pointing me to this article "From safe-deposit boxes to virtual vaults, we must ensure banks can meet the financial services needs of their customers today," said Acting Comptroller of the Currency Brian P. Brooks. "This opinion clarifies that banks can continue satisfying their customers' needs for safeguarding their most valuable assets, which today for tens of millions of Americans includes cryptocurrency."
  23. 29 points
    The first Japan to Korea ODL has been recorded. Japan has been added to the utility scan, but it could be weeks or months before we see daily ODL between Japan and other users. https://twitter.com/UtilityScan/status/1277943529101242368/photo/1 The expectation is that a remittance corridor between Japan and Vietnam will be opened up as SBI have a big share of this remittance corridor and are well placed to make it happen. Utility scan have added the Japanese flag
  24. 29 points
    https://www.xrparcade.com/news/five-new-ripple-customers-revealed-seventeen-running-on-the-cloud/
  25. 29 points
    JannaOneTrick

    Liquidity Aggregation

    Liquidity Aggregation Job position and Breanne Madigan's article [Job Position] Staff Software Engineer, Liquidity "Liquidity sourcing and aggregation, [...]" https://ripple.com/company/careers/all-jobs?gh_jid=2006530 "I guess that what Ripple is going to develop by this new job is a solution to get more liquidity by using multiple exchanges for one payment: "Liquidity Aggregation."" [Ripple Insight] Liquidity and Global Markets | 101 Breanne Madigan, 20th April "But even non-ODL partner exchanges like Kraken or Coinbase will contrinute to increased liquidity." https://ripple.com/insights/liquidity-and-global-markets-101/
  26. 29 points
    Buys and sells of XRP are made with a spread of some basis points. When $1Billion per day is being transferred around the globe using ODL even at 10basis points spread, someone is earning $365million per year just off the fees. This gives xrp an intrinsic value. Even if cars were free (but limited in number), taxi drivers would pay to own them because they can earn money from giving people rides. Market makers will compete for this income and this gives xrp its value. The more xrp that is locked away and not being used for liquidity, the less is available for cross border transfers and the higher the 'price'. As price rises, investors will lock more up, this will in turn drive up the price via competition for the remaining xrp. ODL provides a floor price below which XRP should not fall and the floor price is directly proportional to ODL volume (and circulating tokens).
  27. 29 points
    Perhaps some BTC maxis trying to clog up the network, not knowing XRPL doesn't have a problem with more then 6 transactions per second?
  28. 29 points
    Hodor

    Believe in the Use Case

    Blog URL: https://coil.com/p/Hodor/Believe-in-the-Use-Case/wVlly8kWp 𝐓𝐡𝐞 𝐮𝐬𝐞 𝐜𝐚𝐬𝐞 𝐢𝐬 𝐬𝐭𝐢𝐥𝐥 𝐤𝐢𝐧𝐠, and there is one digital asset positioned for globally-scoped levels of usage and transactions. Learn more, and find out my take on all the latest news affecting XRP in today's blog. 𝐑𝐢𝐩𝐩𝐥𝐞 𝐍𝐞𝐰𝐬: Xpring fund Equilibrium, a company that will make participation in ILP much more easy for stakeholders; Coins.ph releases a video celebrating its RemTech Award and profiling its use of digital assets; Xendpay re-affirms its use of Ripple technology, this time for a Kenya corridor; and FortePlatform makes headlines in a new interview. 𝐂𝐨𝐢𝐥 𝐍𝐞𝐰𝐬: Cinnamon formally announces a soft test release of its video streaming platform. 𝐗𝐑𝐏 𝐍𝐞𝐰𝐬: Six independent websites exist where stakeholders can access information about validators on the recommended UNL; @hmatejx announces that he's going to create an automatic tool for tracking xRapid usage; Blockdaemon announces outsourcing service for businesses wanting to run an XRP Validator; and Poloniex adds new stablecoin pairings for XRP. I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  29. 27 points
    LeonidasH

    2019 XRP yearly report

    In this post I've tried to summarize most important developments for Ripple and XRP. Added a few stats as well. Hope you enjoy it. Be patient with the loading time! https://www.xrparcade.com/news/xrp-2019-yearly-report/
  30. 27 points
  31. 27 points
    Hodor

    Raising XRP's Profile

    Blog URL: https://coil.com/p/Hodor/Raising-XRP-s-Profile/KfQ8e6ZW3 Brad Garlinghouse continues the media storm for Ripple, making 𝘁𝗵𝗿𝗲𝗲 𝗺𝗲𝗱𝗶𝗮 𝗮𝗽𝗽𝗲𝗮𝗿𝗮𝗻𝗰𝗲𝘀 𝗶𝗻 𝗳𝗶𝘃𝗲 𝗱𝗮𝘆𝘀: I break down the important points for you in my latest blog, with links to the source interviews! I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  32. 26 points
    Xrpiet

    Epic Pennant on BTC Chart

    I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions given. There are currently three comments tied in the race, each having 21 reactions: https://www.xrpchat.com/topic/30042-epic-pennant-on-btc-chart/page/48/?tab=comments#comment-702518 https://www.xrpchat.com/topic/30042-epic-pennant-on-btc-chart/page/65/?tab=comments#comment-715518 https://www.xrpchat.com/topic/30042-epic-pennant-on-btc-chart/page/222/?tab=comments#comment-759787 Here's a plot of the people who gave over 50 reactions. and here's a the people who received over 50 reactions: Given a reaction, Cesar1810 was most likely to 'like', dr_ed most likely to say 'thanks', MQB was most likely to say 'haha', EcneitapLatnem was most likely to be 'sad', and Kiwi was most likely to be 'confused'. Seems about right ... Below I showed people getting confused by each other. An arrow from X to Y means X reacted 'confused' on Y's comment. Seems like Eric123 confuses the heck out of Viggo, and a lot of people are confused by baobeiiiii:
  33. 26 points
    For those of you whom have not been following our posts in Molten's "MGI ODL Bitso Theory About Price" thread, here is a quick re-cap. And then is my report on what trading event we captured which occurred just a few hours ago (see pics below). A few of us "chart watchers" and data miner/coders like myself, have been probing the mysteries of ODL from the angle of acquiring and charting publicly exposed API data and related metrics. If you read my last posts yesterday on Molten's thread, I explain about the new "slippage estimator" chart (see below) which is running in "pre-alpha" right now (labels are borked up, and I've not even performed some dogfooded Q/A on the hard numbers yet, so please be kind lol). Now, re the "Event" at Bitso this morning... Please review these two charts below - the blue Hourly Volume chart show two spikes of trading, the latter I think are ATH spikes for a single hour of trading. The second (more psychedelic chart) is described in my referenced post from last night, but in essence, it's approximating the friction (slippage overhead) of ODL trades of various USD amounts by the hour, over last 48 hours. What you see is the (assumed automated?) ODL processes jumping on a profit window of opportunity which apparently got booked on one of the two exchanges (NEED MORE DATA!!). This may sound silly, but this is what some of us find exciting af hahahaha !
  34. 26 points
    Truckdriver

    Hodor , missed but not forgotten

    Man do i miss @Hodor weekly blog's . They kept us informed , educated and were a great source for me to think outside the box , it didn't matter how many times i scoured the internet for information he always surprised me with something new , i certainly enjoyed his summary , it was the best bit for me. I'm really looking forward to what he bring's to the community next and i hope we don't wait too much longer. In this thread , post a thought , picture or a gif of what you may think he/she may look like , keep it light and respectful , as respect is what he/she deserve's after dedicating so much time to us as a community. So just saying @Hodor missed , but not forgotten .
  35. 26 points
    Hodor

    Acceleration!

    Blog URL: https://coil.com/p/Hodor/Acceleration-/3dawvDvgk The IoV is growing at an increasing speed! To learn about the 𝐩𝐫𝐨𝐟𝐨𝐮𝐧𝐝 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 that were announced over the last busy week, refer to today's blog: 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐍𝐞𝐰𝐬: The IMF publishes a paper titled 'From Stablecoins to Central Bank Digital Currencies.' 𝐑𝐢𝐩𝐩𝐥𝐞 𝐍𝐞𝐰𝐬: Ripple and the Xpring team organize a series of important announcements preceding the first UBRI Connect Conference & Hack-a-thon; A new Xpring SDK (software development kit) is published; Brad Garlinghouse appears at two venues - a YouTube video with Anthony Pompliano, and the Economic Club of New York; David Schwartz publishes thirteen proposals for changes to XRP; Ripple acquires an Icelandic crypto trading firm; XRP Experts explain how XRP owners can (currently) use the XRP account reserve in an XRP wallet; and Jim Chauncey-Kelly talks about Ripple's corporate culture. 𝐂𝐨𝐢𝐥 𝐍𝐞𝐰𝐬: Stefan Thomas kicks off the second day of the UBRI Connect Conference with a talk about web monetization; Ken Melendez incentivizes authors on Coil that choose to participate in Coil Blogging Club competitions; Cinnamon successfully integrates Coil & ILP with its video streaming platform; and I provide links to five new Coil articles from various authors. 𝐗𝐑𝐏 𝐍𝐞𝐰𝐬: Sincerely George organizes an effort to identify developers who should be considered eligible for the XRP Community Choice Awards; Crypto.com updates its service to allow XRP holders in the U.S. to directly debit their XRP in their Crypto.com wallet; VinDAX, a new ICO-funded exchange, adds support for XRP trading; Wietse Wind publishes two massive data stores in SQL Lite format, containing the closed XRP Ledgers and their associated transactions; Richard Holland announces a new version of the XRP Toast Wallet; @_JonnyLawrence shares a new GIF that intuitively explains On-Demand Liquidity (ODL); and PDAX, a Philippine crypto exchange, adds support for XRP. I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  36. 26 points
    Blockchain and Other Networks Sep 11th - Sep 13th 2019 Washington, D.C. https://www.ttivanguard.com/TTI-VANGUARD/Blockchain-and-Other-Networks This presentation was by far the best I have seen so far when it comes to the discussion about XRP. This is the kind of information we do not see enough in those presentations as Bradley explained in greater detail how the system works and the benefits to the ecosystem. But not only this, the audience was very receptive and communicative also. After the presentation, the audience showed great interest and had many questions all related to XRP. The video is set to start at the correct time but in case you need the time frames, He starts talking at 1:07:55 He ends talking at 2:01:25 Big shout out to @stuart_xrp for finding this The original video is now private so I replaced it with Alex Cobb' stream
  37. 26 points
    Liquidity Index for Bitso XRP/MXN For reference: 2.0E+06 = 2,000,000 Each blue bar = 1 day Look at the axis on the left hand side to know how many XRP are used For instance, about 1,200,000 XRP have been used today. Real time version https://docs.google.com/spreadsheets/d/1pZ2POpljERK-oV3rusaCmq58U2badn5i9WOCIP9Wtmg/edit#gid=1888946776 Source https://twitter.com/tenitoshi
  38. 26 points
    Blog URL: https://coil.com/p/Hodor/Your-XRP-Limited-Supply-Cryptographically-Secure-Censorship-Resistant-Future-Proof-Immortal-/MjbN8ZXrT Digital assets like XRP will still be around long after we're gone! Discover why, and read about all of the latest important news impacting XRP in today's blog: 𝐑𝐢𝐩𝐩𝐥𝐞 𝐍𝐞𝐰𝐬: PNC, the 8ᵗʰ-largest US bank, implements xCurrent; Euro Exim Bank receives industry recognition; The IAMTN interviews Jeremy Light, Ripple's VP of Strategic Accounts; SBI VC launches a promotion that involves a small award of XRP to eligible SBI shareholders; and a fan video is released with bank-related quotes from Brad Garlinghouse; 𝐂𝐨𝐢𝐥 𝐍𝐞𝐰𝐬: Coil continues to attract increasing numbers of content creators to their official blogging site; and I share my latest Coil author recommendations. 𝐗𝐑𝐏 𝐍𝐞𝐰𝐬: XRP Fans are intensifying their efforts at promoting XRP; an XRP fan analyzes a wide variety of project implementation timelines and publishes his findings on Reddit; and OK Swap, a new exchange, lists XRP. I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  39. 26 points
    Hey guys, I just made a small video after the XRP drop from $0.3 to $0.25. I feel you, I wish I could ease your pain, talk sense into you all but only you can take decisions. All is in good motion (speculatively and adoption wise). Take great care <3
  40. 25 points
    I've uploaded a brief video about why the new Xpring developer platform is such a a big deal and how easy is now to start coding for the XRP Ledger in any language you like, even if you don't know a lot of coding. I can't stress enough how simple this is now. As an example, I developed a small example app, Zerpy (github): an account manager to check your balances, transactions and send XRP to other accounts. It was developed in a day and ~300 lines of code (~200 for the UI and~100 for the rest). I used the new XRP-API, Python and PyQt5 (my first time using it and creating a '"real" UI). For those interested, I also released a small python wrapper for XRP_API (github). This is all it takes now to get your balance, transactions and send a payment: a mind-blowing 20 lines of code. This is a really huge step towards developing for the XRPL. from xrp_api import XRPAPI api = XRPAPI() # Addresses and api key myTestAccount = 'rNnvVcpyM33o1rCuE3J4PQVj1xXa2ZgfPt' myOtherTestAccount = 'rNnvVcpyM33o1rCuE3J4PQVj1xXa2ZgfPt' myApiKey = '605fd0c524f2a19a5d1777b97776b818' # Get account info account_info = api.get_account_info(address=myTestAccount) # Get account transactions transactions = api.get_account_transactions(address=myTestAccount) # Send payment api.submit_payment(source_address=myTestAccount, destination_address=myOtherTestAccount, amount=10, api_key=myApiKey)
  41. 25 points
    Hi folks, Been awhile, thank you for reading. I don't write too often these days, but I have seen enough interesting things over the past few months that I feel it is absolutely time to speak up and share my observations. I could be entirely wrong, and I am NOT a fanboy by any means. I dislike hype in the markets as much as the next person. Before it was nuked, I mentioned in the Zerpening that there are many ways to get to $589/XRP - the dollar can go down, or the utility can go up, or both. Something really interesting has developed in terms of the timeline we have seen since the beginning of 2020. The first thing I want to bring up, is the statement made repeatedly by Ripple that 2020 will be the year of the digital asset. This commentary came in the shadow of an exhausted repo market that was already struggling with liquidity to keep up with overnight deals in 2019: https://www.cnbc.com/2019/12/30/the-fed-seems-to-have-halted-a-potential-crisis-in-the-repo-market.html The first observation that I made regarding rhythmic volume patterns down to the midnight hour of weekends, and we've all recognized it by now: The ever increasing sine wave of programmatic activity that was so carefully balanced it had very little impact on price in comparison to speculative movement. No terribly high values in comparison, but a considerable amount of XRP had been flowing, changing hands, etc. The volume generated during these weeks on a daily basis outpaced the volume we saw during the last meteoric bullrun, yet the prices never even came close to $0.50. Consider when OTC sales dropped from XRP II. Consider when we started seeing a parabolic rise in XRP distribution - this liquidity wave is a lagging indicator of this initial distribution increase (in my opinion): https://www.ccn.com/ripple-potentially-sped-up-its-xrp-distribution-timeline-by-21-years-crypto-researchers/ In response to the outcry (so the narrative goes), we are told they curtailed sales - I believe it is likely that the curtail in sales and the client flows they have access to allowed them to predict that the liquidity waves they generated using their initial escrow formula would wash out this month. They knew when they started slowing down institutional sales that the liquidity they pumped into the system would ripple and wash out in waves. But why publicly shout about turning the controls now? The Greg Kidd interview indicated that the mentality of Ripple concerning the escrow is precisely the following: Ripple views the ownership of its warchest as if it were a central bank, preventing monumental flushes of liquidity from creating too much volatility. I believe what we have witnessed with the weekly wave of programmatic trading was a test of the smoothing effect of the XRP ODL platform - could it operate in the background and transparently hold a floor value? I believe they got their fortunate market test case on March 12th, when the entire market dips and the subsequent Maker/Dao/Eth $0 automated auction siphon slurped unfettered value out of ETH and drained the rest of the market with it. https://blog.makerdao.com/recent-market-activity-and-next-steps/ https://blog.makerdao.com/the-market-collapse-of-march-12-2020-how-it-impacted-makerdao/ We went to $0.11 - it was terrible, but it could have easily gone far lower with the rapid liquidity XRP provides. We already know how bad those swings can go. But the waves continued, we rebounded along with the rest of the market, but we held oddly steady at $0.20 while the rest of the market fluctuated in a more loosely coupled manner. I've mention on a few video comment boards the $0.17 Sunday. This is the most interesting piece to me as of late. There are a few interesting things that we know right now. First, we know that ODL is transitioning to smaller payments - the wave or large payments is over. Interesting. Second, we know that many central banks are planning to adopt DLT through R3 Corda as the backbone for their CBDC development: https://www.r3.com/wp-content/uploads/2020/04/r3_CBDC_report.pdf Do we know how much XRP r3 has an option on? Was it necessary to rebuild the warchest in order to shift liquidity pools to appropriate areas? How much does r3 need for its central bank partners? Third, we've had suspicious unique XRP market flash buys on three distinct and evenly spaced weekends - each one driving the price of XRP up and then down by $0.03 roughly, only to return to stability at close to the original price. What would it take to move the markets in these brief 5 minute flashes? Let's say it likely take the sale of between 5.5-6 million XRP to drop the price from $0.20 - $0.17 - the cost to do this on bitstamp, as it turns out, is around $1mil USD. This sure seems like something that a person would take to the OTC market, but we've had THREE weekend buys. May 10 - I'll admit this first one was disguised pretty well behind a general market crash: May 24: June 8: The OTC markets are drying up. That's the only thing I can really assume at this point. Why would anyone take this sort of risk on the open market three times? The three opportunities on a regular timeline: My feeling is that - particularly in the most recent case, you have a very clear out in the open market massive million dollar transfer arranged - if not three - and where is OTC? Are we witnessing the effects of a quantitative tightening on the part of Ripple? Are they expecting there to be a significant liquidity crisis in fiat that would make XRP far more valuable to them as a company in their control than outside of it? I believe that Ripple is rebuilding and rebalancing their warchest for a new volley of managed liquidity. I think they are shifting to smaller payment volumes because they are anticipating advanced volatility in the dollar, likely to the downside, and they are aware that the consequences this will have on the value of XRP will allow them to handle far more international remittances with far less XRP. Another sign? They are interested in XRP loaning partners - yet another form of quantitative tightening - in addition, this builds a redemption floor as more and more liabilities are stack on XRP and require either XRP or a comparable amount of other currencies to redeem. The beauty of the ledger - again going back to the Greg Kidd interview - is that with the XRP Ledger a person is able to settle in a variety of avenues and handle many different interchangeable currencies - and this should really go in both directions - we should be able to loan against XRP secured in escrow on the ledger - but we can also issue stablecoins or other assets on the ledger that are backed by other assets so long as a reliable pricing channel exists - and none of this takes away from the value of XRP as a transport of value. I can't make price predictions - and I won't. What I will say is that I feel like quantitative tightening of XRP in tandem with the bitcoin halving is likely a chess move considered way in advance, and I think that if other currencies releasing proof of stake equally depress the circulating token supply as fiat inflation kicks in - particularly if the sentiment that Blockchain Backer shares in his recent video on the stock market hype cycle playing into a dropping dollar value, it makes perfect sense for Ripple to wind back its XRP distribution plans in order to be able to handle more smaller payments with fewer XRP per transaction. I think it is a pretty ballsy move if this is in fact what they are doing - because they would be effectively betting against the value of the dollar without directly saying so. At the end of the day I feel like this move by Ripple anticipates an increase in price - to what extent I do not know.
  42. 25 points
    It’s been a long time coming, but I think we are on the cusp of Polysign revealing what they've been up to for the past three years. We got confirmation December of last year that Polysign was in early Beta and would be going live in 2020. Also, it looks like there are design changes in order with respects to the webpage. Most of us know Polysign to be a digital asset custodial service/infrastructure platform as David’s answer to a question he fielded from a student at the University of Texas indicates. Going back a few years, we had our first indication, at the end of 2017, that Ripple would be taking the much-needed steps to begin building the necessary “market infrastructure” (i.e. custody and financial hedging instruments) needed to entice more institutional participation. According to Ripple this “market infrastructure” is needed to grow/stabilize the crypto markets overall but more importantly, to help with XRP. Miguel Vias, Head of XRP Markets commented in the last paragraph of Ripple’s Q4 XRP Markets Report for 2017: “While customers can use XRP for on-demand liquidity through xRapid, we want to build the necessary markets infrastructure for eventual direct usage of XRP by financial institutions. In Q1, we’ll begin work towards the launch of institutional hedging instruments and custody solutions. Both of these market components are important to institutional adoption and thus are important components of our 2018 roadmap.” On a Credit Suisse panel discussion (03:20 – 05:07), Miguel Vias alluded to the fact that you can’t build a vibrant crypto ecosystem with institutional players (i.e. hedge funds & investment banks) without first solving for custody or the safeguarding of these digital/crypto assets. Once you do this, you allow for the development of prime brokerage firms, lending, and hedging instruments (i.e. Derivatives, Options, Futures, ETFs, etc). Just recently, I happen to stumble upon a couple of interesting Tweets from @Arturo_P_A, Tweet One from February and Tweet Two from yesterday. In the first, @Arturo_P_A offers his opinions regarding the synergistic relationship he believes will develop between Ripple and Polysign. In particular, around on-boarding ODL-based exchanges, conflict-of-interest around XRP custody for these ODL exchanges and Ripple, and new use cases. What really piqued my interest is what @Arturo_P_A reveals in the second Tweet. It looks as if we have confirmation of one of Polysign’s first customers or maybe a subsidiary of Polysign, Standard Custody & Trust Company. It appears that Polysign has submitted a request for a custodial charter license in New York that was still pending as of February 6th 2020. Assuming that Standard Custody will, in some way, shape, form, or fashion, have some affiliation with Ripple it made me think about a couple of @KarmaCoverage Medium posts: What could xPool be? An attempted guess How xPool may work? An attempted guess It seems to me that Ripple now have the necessary foundational infrastructure in place to get escape velocity needed to truly execute their IoV vision: RippleNet - for the transference of value Interledger Protocol - for seamless connectivity and interoperability between di-separate traditional financial/blockchain-based systems/platforms Codius – for agnostic smart contract development for DeFi products Polysign – digital asset custody.
  43. 25 points
    King34Maine

    Ryan Zagone gone from Ripple?

    I tend to agree with you. There's more going on here than what we, as 3rd party on-lookers, are privy to. Like you said, you don't get investors to pony up 200-million dollars via a Series C if they suspect they wouldn't/couldn't see a return on that size of an investment. I think that 1 of 3 things are possible. The 1st is that Ripple is about to make a significant acquisition (most likely). The 2nd is that they are working on a merger between themselves and another entity (my #2 guess). The 3rd and final is that they are possibly being bought-out (least likely). All of this is pure speculation on my part, however, I believe it fits/aligns with recent statements (01:15 - 01:47) made by Brad G (Ripple CEO) of late around the topic of M&A/Consolidation of this space. In a recent Fortune article regarding Ripple's recent Series C funding round Brad stated that "the company did not need the money, though the funds will provide "balance sheet flexibility." "Balance Sheet Flexibility," to me, is code for a M&A move. He goes on to say, at the end of that article, "It's been a tremendous, tremendous year for Ripple....adding that the company will be disclosing more numbers and major announcements in early 2020." If either of my assumptions above are true, I suspect the exodus of these top executives and directors is as a result of negotiated re-structuring. As with most M&As often times the acquiring company or newly merged entity has to streamline the work-force. I'm expecting to hear something significant from Ripple on the M&A front here shortly or within the next couple of months.
  44. 25 points
    JASCoder

    The Case For XRP by Galgitron

    http://galgitron.net/Post/The-Case-for-XRP Very thorough piece posted today from the universally popular Galgitron. And only uses the word **** once lol. I like his analogy with the concept of the gravity of value, eventually winning the day. The BTC Maxies will will all collectively be triggered into fits, which is always fun.
  45. 25 points
    The future of banking ?
  46. 25 points
    LeonidasH

    XRParcade Ripple ecosystem updated

    XRParcade Ripple Ecosystem infographic updated. You can view more information about each entity at: https://www.xrparcade.com/rippleecosystem/. New additions are always added at the bottom of the page.
  47. 25 points
    dr_ed

    You Are Not Mistaken

    I was just trying to remember how I found out about XRP. Must have been just about a year ago. I was going to write something about cryptos.....I already knew Bitcoin was a horrible energy hog, and that it had a bubble in 2017 and it was crashing hard. I didn't take it seriously. I wondered if it was ready to go to zero. I had deliberately ignored the 2017 bull run. I was not a believer in BTC. I knew its days were numbered. As soon as I looked at some charts though, my investor spider sense kicked in. It was obvious the whole crypto market was already extremely oversold....and I began to look at other coins....I began to try to understand what this new tech --- blockchain ---- really amounted to....Bitcoin was not the whole story. Not even close. It probably took me a day or so to figure out that there were many other protocols and that there were 2nd and 3rd generation coins that had apparently solved the issues associated with mining. I got more excited. I read the Maxi FUD about XRP being a "bankers coin" and all the negative stuff.....and figured immediately it was mostly crap. I went to the blogosphere to see if I could get some more perspective. I ran across a couple of really good bloggers. One was a real curmudgeon, name of Galgitron. He had the online demeanor of a grizzled combat vet, and he obviously didn't suffer fools gladly. But he said a lot of things that made me more interested in XRP. And then there was this other fellow....always positive, always up-to-date on the latest news out of Ripple, always steadfast in his commitment to the XRP story. A more prolific writer than the first guy, and a good one. His name, as you might have surmised by now, was Hodor. I haven't missed a blog of yours since, I don't believe. These times of a sideways market with big drawdowns can test the patience of the most serious investor. It's really good to read that the story is still positive, and the tech is still the best, and the ecosystem is growing fast. It's been an interesting year for me...in terms of learning. I like to make money, but I love to learn even more. There is nothing more true than that ancient saying : "When the student is ready, the teacher will appear." Thanks for being one of my best teachers.
  48. 24 points
    It's very worrying. If ODL isn't cheaper than conventional moneymarkets, then it won't get used. Dropping from 15m a day to 2m was a massive change yesterday and after reading that report last night I immediately sold a chunk of my xrp. I will wait to see if volume comes back before dipping my toes back in. That report raised a huge red flag for me and it's the first time in almost 3 years that I've strongly doubted the xrp experiment. My greatest worry has been that institutions using ripplenet get instant settlement which allows them to change the way they rebalance their accounts and so even using 'old fashioned' nostro/vostro over ripplenet is saving costs to such an extent that the original estimates of what ODL would save on top of that just have not taken place. The fact that they have had to pay MGI such large amounts to use ODL (build liquidity) was disturbing, and now dropping large payments altogether gives me reason to pull back and wait. The departure of Miguel Vias troubled me too, as he was responsible for building liquidity. Those large payments made up the majority of transactions, if they were saving MGI money, they wouldn't stop it overnight (perhaps it was just costing ripple far more than mgi was saving and they've had to renogotiate terms on that deal) - either way, I will wait and watch to see if ODL volume returns. I'm still curious to know how the western union interest plays out. (Apologies for this somewhat downbeat post. I'm usually quite positive about xrp, but not today).
  49. 24 points
    denverks

    News recap for the last 15 days

    Ripple Joins MOBI, Mobility Blockchain Initiative https://www.thecryptoassociate.com/ripple-joins-mobi-mobility-blockchain-initiative/ Ripple’s David Schwartz, Arthur Britto, and crew have updated their custodial service website, Polysign inc. https://www.reddit.com/r/Ripple/comments/g78bia/ripples_david_schwartz_arthur_britto_and_crew/ RippleNet member NIUM expands into China with latest partnership https://twitter.com/CryptoAmb/status/1252498884946989057 Japanese cryptocurrency exchange FXcoin to test remittances with XRP https://www.xrparcade.com/news/japanese-cryptocurrency-exchange-fxcoin-to-test-remittances-with-xrp/ Xpring introduces Developer Reflections https://www.xrparcade.com/news/xpring-introduces-developer-reflections-one-more-countermeasure-to-covid-19/ Ripple to be Added to Voyager Crypto Asset Broker https://www.thecryptoassociate.com/ripple-to-be-added-to-voyager-crypto-asset-broker/ Ripple Partner Volante Joins U.S. Faster Payments Council https://www.thecryptoassociate.com/ripple-partner-volante-joins-u-s-faster-payments-council/ Ripple Partner SBI to Partner with SMFG for Digital Banking https://www.thecryptoassociate.com/ripple-partner-sbi-to-partner-with-smfg-for-digital-banking/ Ripple’s Xpring Recognized by Fast Company https://www.thecryptoassociate.com/ripples-xpring-recognized-by-fast-company/ An App for Millions That Runs on Ripple https://ripple.com/insights/an-app-for-millions-that-runs-on-ripple/ Bank of America Talks About Blockchain in Banking https://www.thecryptoassociate.com/bank-of-america-talks-about-blockchain-in-banking/ TPBank Uses RippleNet to Drive Transparent Global Payments Between Vietnam and The World https://ripple.com/insights/tpbank-uses-ripplenet-to-drive-transparent-global-payments-between-vietnam-and-the-world/ Arab Bank Switzerland to add custody and brokerage services for XRP https://www.xrparcade.com/news/arab-bank-switzerland-to-add-custody-and-brokerage-services-for-xrp/ Sygnum bank fully integrates Ripplenet and XRP for banking customers https://www.insights.sygnum.com/post/le-jeton-numérique-xrp-de-ripple-est-maintenant-disponible-à-la-banque-sygnum RippleNet Usage Surges 300% In 2020 Q1 https://www.thecryptoassociate.com/ripplenet-usage-surges-300-in-2020-q1/
  50. 24 points
    stickmonster

    Suggestion: Burn 50 billion XRP

    BOOOOOOOOOOOOOOOM! Great idea. How about you set the example and burn yours first?
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