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About tev

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  1. If the buyers of XRP have a reasonable expectation of profit based on Ripple's actions, why are the buyers paying prices that rise and fall in concert with other crypto-assets' prices. Ripple's fortunes are not tied to Bitcoin or Litecoin (though perhaps they should correlate inversely with Stellar…). The price of XRP is much more sensitive to the price of BTC than it is to anything that Ripple say or do.
  2. Why should a court ruling coincide with objective reality? The purpose of the law is to make lawyers richer, not to establish the truth.
  3. tev

    Bitstamp XRP Gateway

    I've not seen your old instructions from Ripple, but it sounds like they're something to do with issuing, moving or redeeming IOUs through the XRP ledger. But XRP itself is different: it's an asset, entire of itself. It's not an IOU since is doesn't represent anything else (which, if I may digress briefly, is why the various XRP-is-a-security lawsuits are so silly). The word “Gateway” seems to refer to an address that has issued IOUs and is wiling to redeem them. For instance, GateHub issues US dollar IOUs and Euro IOUs, which are recorded on the XRP ledger even though they're not XRP. This is perhaps the most notable feature of the XRP ledger compared to other distributed ledgers such as Bitcoin and Litecoin. If we forget about the IOU functionality, we're left with a ledger than records the movements of XRPs, using fairly similar cryptographic concepts to Bitcoin, Litecoin et al.. Therefore, what you want to do with your XRPs can be explained in generic cryptotoken jargon. What you're trying to do is move your cryptotokens from one address on the ledger (yours) to another address on the ledger (Bitstamp's). So, you need to construct a transaction that declares how many cryptotokens you want to move, and where you want to move them from/to. Adding a Destination Tag to the transaction is just like adding a Reference to an inter-bank transfer (it's an extra identifier that the recipient uses to figure out who's sending them money). Think of it as being like writing a cheque and writing a note on the back. Having constructed the transaction (i.e. written the cheque), you have to authorise it with your signature. A cheque requires a pen-and-ink signature, but a crypto-transaction requires a cryptographic signature. The word ‘wallet’ is commonly used to refer to the software than adds the cryptographic signature to the transaction, and the same software also lets you view the balance (provided it has an internet connection). A wallet does not hold cryptotokens. Cryptotokens exists only on their global distributed ledger and cannot be in a ‘wallet’. The word ‘wallet’ is rather unfortunate in the cryptotoken context because it's really more like a cheque book or a debit card: it allows you to move funds that are stored somewhere else. I haven't used toast wallet, but if it's like any other cryptotoken ‘wallet’, it's a tool that lets you view an address on the XRP ledger and sign transactions that move funds out of that address and into another address.
  4. The facts are these: 1. If soemone gets hold of your private key, they can steal your XRPs 2. Malware exists.
  5. tev

    Bitstamp XRP Gateway

    Do you know the secret (or private key) for the address that holds your XRPs? If you know it, you can use it to sign a transaction that moves your XRPs to another address. If you don't know your secret, then your XRPs are stuck there forever. Assuming you do know your secret, and you're using it to sign a transaction that sends your XRPs to the address that Bitstamp instructs you to use, be sure to include a Destination Tag in the transaction. In order to construct, sign, and broadcast the transaction, you will need to use ‘wallet’ software. The only ripple ‘wallet’ software that I can comment on is this one, since I've not tried any others. The @ripplerm ‘wallet’ (in the link) has a lot of functionality, which may make it confusing. It denominates everything in drops (1 XRP = 1 million drops). When you first open it, it's set to a demo account, so you would need to reset it to your own account by clicking the blue Change box and then clicking use secret key to get a dialog box where you can enter your own secret. Or just enter your address to get a passive view of your balance. The @ripplerm ‘wallet’ allows cold signing, which is a very good idea (means your secret is never exposed to the internet), but you may struggle with it. For cold signing, you switch the ‘wallet’ to your account on an internet-connected computer (but don't enter your secret: just use your address), and you use its Tools>Raw Txn tab (plus Payment sub-tab) to construct the transaction (amount, destination address, destination tag, fee (12 drops?), account sequence etc.). You then replicate the whole process on an internet-disconnected computer with a downloaded copy of the @ripplerm ‘wallet’ web page (but this time you switch the ‘wallet’ to your account using your secret, as in the previous paragraph) until the text just below the Sign button looks the same as it did on the internet-connected computer. Since this instance of the ‘wallet’ knows your secret, it allows you to sign the transaction; and you can then save the signed transaction (USB stick?) and take it back to your internet-connected computer. On the internet-connected computer, use the Tools>Submit tab to load the signed transaction and broadcast it. I have only one computer, so I have to reboot it off a USB stick for the internet-disconected part of cold signing. Gateways don't come into this at all because you're moving XRPs and there's no IOU issuance happening. Also, your XRPs never leave the XRP ledger: they just move from your address on the ledger to Bitstamp's address on the ledger.
  6. The sceptics are going to jump on the fact that you've used the abbreviation UNL without a definition.
  7. If you have the private key to a crypto address, then you are the de facto owner of the balance at that address. This concept of ownership has now existed for nine years (i.e. since the Bitcoin ledger was opened), yet courts/regulators/legislators still don't get it. With the security-or-not argument (it's not), they're trying to run before they've learned to walk.The one legislative chink of light that I've seen is a clause in the United Kingdom's Regulation of Investigatory Powers Act… …which tacitly acknowledges that an XRP private key (since it's used only for signing & not for encrypting) is the property of its holder.
  8. http://www.cbc.ca/news/business/bank-hack-tuesday-1.4682018 About half way down the page:— Will their terms & conditions include that the address be kept secret and the ransome be paid in randomly sized chunks? Also, how do they expect anyone to take them seriously when their demand is…
  9. Secure communication over short distances is old technology that can be replicated between 2 computers with webcams. Using laptops as Aldiss lamps could be fun, but QR codes probably have higher bandwidth than morse code. Take a look at this project.
  10. The appeal of this method (especially, the signing part) is that it replicates what happens in a transaction. A transaction is valid if it has been signed with the private key belonging to the originating address. The validators ‘know’ it's OK if they can validate the signature against the same address's public key. So, if your public & private keys work properly in a simple sign/validate scenario (or encrypt/decrypt if you prefer), you know that they're capable of interacting correctly with the XRP ledger. The Electrum bitcoin wallet illustrates that this sanity-check can be made very user-friendly, but using Electrum for ripple keys is convoluted.
  11. Ideally, you would encrypt a message with your public address (could be on an internet-connected computer, but doesn't require interaction with the XRP ledger). You would then decrypt the message on a cold computer, using your private key, thereby proving that the private key does indeed unlock the pubic address. Equivalently, you could sign a message with your private key and then validate the signature against your public key. A javascript guru would find it easy to write a user-friendly in-brower tool to do this, probably with some minor tweaks to code borrowed from here. A while ago, I replied to a post here, offering a ridiculously convoluted alternative which illustrates the process of proving that given secret does indeed unlock a given address. Unfortunately, my ridiculously convoluted answer was, well, ridiculously convoluted. Nonetheless, it illustrates that @Trader-to-the-Crown is asking for something very reasonable and eminently possible using asymmetric cryptography that the XRP ledger shares with many other systems. Edit: the relevant part of the earlier xrpchat discussion is https://www.xrpchat.com/topic/22124-how-to-prove-address-ownership/?tab=comments#comment-337515
  12. What are your thoughts about the counterfeiting allegations that have been made against Bytecoin? It seems to have been a measurable one-off exploit, but does it make them harder to sell, especially given the earlier controversies? Does the existence of a richlist give you any cause for doubts about Verge's privacy features?
  13. All avenues? 95% of people live outside your government's jurisdiction, and some of them run cryptocurrency exchanges. Just send your XRPs to a non-US exchange and sell them there. If your XRPs are at an address for which you hold the private key, your government can't stop you (short of implementing their own version of China's Great Firewall).
  14. tev

    $100 XPR Giveaway

    It seems convoluted: Spend your local fiat currency on electricity Use the electricity in Proof-of-Work Sell the Proof-of-Work proceeds for some intermediate medium of exchange (BTC, USD?) Sell the intermediate medium of exchange for XRP. You could run an ordinary mining pool —miners written in C or C++ should be more efficient than miners written in javascript, giving a better return in Step 2. Or bypass steps 2 & 3 altogether and just spend the fiat on XRP. The main beneficiaries to your scheme seem to be the exchanges, since XRP-XMR is an unusual trading pair, and going through an intermediate will incur 2 lots of commission instead of just 1.
  15. If Ripple the company ceases to exist, your XRP private key will continue to exist, and you will still be able to use it to move your XRPs to different addresses on the XRP ledger. The existence of the XRP ledger does not require the existence of a company called “Ripple ”. There are already full nodes in existence that are owned by non-Ripple entities, and you too can be one of them if you own a suitable computer. As long as someone somewhere is running a validator, you can still move your XRPs, and the recipients can provide goods, services or assets in return. XRP is no more an underlying asset of Ripple than is your wedding ring an underlying asset of some central bank.