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About tev

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  1. If it's declared a security, then the entity that declares it so will look rather silly unless they can explain:— What rights each XRP token confers on its holder. Who is bound by the corresponding obligation (since one person's right is another persons obligation; e.g. your right to life, liberty and the pursuit of happiness is my obligation to refrain from taking those things from you). When XRP tokens acquired this property of conferring rights on their holders (tricky, since XRP existed before Ripple Labs Inc., and will continue to exist if Ripple Labs Inc is disbanded — assuming someone somewhere continues running a full node). If you don't have the right to run a full node (as in the point above), then who is the other party who is spared an obligation to refrain from forcibly preventing you?
  2. All Tethers are created from thin air: they are IOUs. Anyone, including you, can create an IOU just by writing on a sheet of paper “I promise to pay the bearer on demand the sum of one billion dollars”. You might have trouble persuading anyone to trust your billion dollar IOU, but that's not stopping you from writing it out. Tethers are much the same, except they're issued on the Omnilayer of the Bitcoin blockchain instead of on sheets of paper. The allegation last year was that the issuer (tether.to) had issued more USDT they they had USD to back them with — which would be a lot like your billion dollar IOU if you don't actually have 1 billion dollars. Three days ago, CoinDesk reported that tether.to have just updated their web page to the following: Searching the internet turns up a variety of opinions on Tether, some sceptical and some not. Personally, I quite like BitMEX's Feb 2018 study.
  3. I underestimated you! It looks Wietse Wind has written an in-browser tool that can interpret your 24 magic words. You don't need it now, but it's worth knowing about as a Plan B that's independent of your device. (To match to security of a hardware wallet, it would have to be saved locally and used on a non-networked computer, ideally booted from a LiveCD.) Also useful if ever the lack of trustline functionality in the Nano becomes a limiting factor for you, as in this earlier thread.
  4. Your main risk seems to be that you've sent Zerps to your Nano's address without first putting a fallback plan in place for when the manufacturers go and out business and you lose your device. Not a gamble that I would take!
  5. Open pull requests are listed at https://github.com/ripple/rippled/pulls. if the owner of the repository likes them enough, those pull requests will be committed. You don't have to be a Ripple employee to submit a pull request, but the people with the power to commit them (or reject them) are presumably Ripple employees. At the top-right of the page I've linked to, there's a Fork button. If you have a GitHub account, there's nothing to stop you clicking that button. Whether or not anyone then chooses to run the Caracappa fork is another matter. The magic word you're looking for, in a permissionless system, is consensus. The license says what you're allowed to do without permission.
  6. What's stopping some other company from selling a technology that uses the same DA to make transactions faster and cheaper? Anyone can clone this GitHub repository.
  7. If we assume that the market is rational (yes, I know, it can stay irrational for longer than I can stay solvent…), then the price of XRP will go up if enough speculators believe one of the following two scenarios to be true: Ripple's business model is valid and the current price of XRP is presently below the present and/or future optimum range for Ripple's interests. XRP is destined to acquire new uses (non-government-controlled peer-to-peer electronic cash perhaps?) that are independent of Ripple's fortunes. Obviously, not all players in the market are speculators. As with the forex markets, some players are traders, with the skill and self-discipline to make money out of upward moves and downward moves.
  8. Fair enough, but how do you think it should be correlated? My simplistic understanding is that Ripple's business model works best if XRP has moderate volatility within a limited range, but I have no idea what price the volatility would ideally have as its midpoint. If you think this is wrong, then I'm open to changing my mind. And if you think I'm right, have you determined what you think is a sensible price-range for XRP to move within?
  9. We have yet to see what will happen if there's a fee market, although there's much discussion about it between the two sides in the capped versus inflating arguments that rage elsewhere. But I'm not really trying to pick an argument with you, because we agree that Bitcoin's energy consumption is a problem.
  10. You don't want to undermine your own valid arguments by overstating them. The trouble with comparing BTC to XRP is that most of the energy consumed by the Bitcoin network is being used to generate new coins, whereas the energy consumed by the XRP network is all being used to validate transactions. Therefore, a more valid comparision would be with a capped PoW currency that's reached the end of its emission phase and is now dependent on a fees market to incentivize its transaction validators. Effectively, Bitcoin's huge energy consumption is the price of its distribution model (and only secondarily the price of its transaction-validation model). I'm not discouraging you from criticising Bitcoin's distribution model: I'm just trying to avoid confusion between distribution controversies and validation controversies! A definitive analysis of this subject would probably have to address the implication of Szilard's engine — the relationship between thermodynamics and information. Trust requires information about the people you're trusting, so if Szilard was right, trust has an energy cost. The Bitcoiners would probably point to the energy consumption of human validators and the energy used to illuminate/heat their offices and power their computers. If some smart mathematician has managed to reconcile BFT with the Szilard engine (or debunk the latter?), then it needs to be communicated in a way that we lesser mortals can understand.
  11. tev

    toast wallet

    Have you considered a non-electronic backup? Simplest & most versatile would be your account's secret (beginning with “s”) written on paper and hidden somewhere that's not going to be affected by fire or dampness. Incidentally, Wietse Wind uses the name family seed to refer to the secret. (I'm assuming you're not doing anything esoteric with “regular” keys.)
  12. Quicker for arbitrageurs to move around?
  13. Or does it stand for RipplePay? It looks like the RipplePay web site has been preserved for posterity here.
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