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JoelQuinn

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  1. Like
    JoelQuinn reacted to JoelKatz in Suggestion: XRP-collateralized Stablecoins   
    The advantage is that if you hold XRP directly, the value of what you hold changes over time. Some people want that, some people don't. This scheme lets those that want that hold XRP and those that don't can hold the stablecoin. Those that choose to hold the stablecoin have the equivalent of on-ledger XRP that is denominated in dollars, or whatever other peg they like.
     
    Someone creates a stablecoin pegged to some asset. The creator provides the price feed and governance. Then anyone who wants to can lock up XRP and issue the stablecoin. Holders of the stablecoin can redeem against the collateral. As the price changes, holders of the stablecoin have claims to changing amounts of XRP to keep the value of the stablecoin constant. Holders of XRP collateral have the value of the collateral change.
    Say you have $100 worth of XRP and you really want to be long XRP. With this scheme, you could lock that $100 worth of XRP up as collateral and issue $50 worth of a USD stablecoin. You could then trade that for XRP and have $150 worth of XRP locked up as collateral. You now have a leveraged long position in XRP.
  2. Like
    JoelQuinn reacted to Hodlezerper in Suggestion: XRP-collateralized Stablecoins   
    I'm so pumped to see you all back on here...
  3. Like
    JoelQuinn reacted to JoelKatz in Suggestion: XRP-collateralized Stablecoins   
    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 
  4. Like
    JoelQuinn reacted to JoelKatz in 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 
  5. Like
    JoelQuinn reacted to King34Maine in Ripple’s Xpring Looks to Build XRP DeFi Products With New Acquisition   
    I don't think that it has anything to do with the Logos blockchain tech. In my honest opinnion, It's more to do with the engineering staff. Reading the blog by the founder of Logos they are being assimilated into xPring. They will no longer be working/developing the Logos platform:
    "While this chapter of Logos is closing, the ideas and spirit behind Logos will continue in our work at Xpring. We have not yet finalized the plans for the Logos core technology, which has continued to set the bar for blockchain performance, but we hope to have exciting news to share in the near future."
    "As we look ahead to our next chapter at Ripple, we expect that our team will work on a variety of projects at all levels of the Xpring platform, with a particular focus on enabling a wide range of DeFi applications. We continue to strongly believe that the future of payments and finance lies in blockchain and decentralization, and Ripple is the perfect place for us to help build that future."
    Essentially, the DeFi services they had intended to build on-top of Logos they will now build on top of XRP and the XRPL. Similar to what Stellar did when they bought-out Chain. It wasn't for the Chain-based tech, but the engineering resources. If you aren't aware blockchain/crypto engineers are hard to come by these days. Just take look at Ripple's career page. We are gearing up for what I'm calling the "consolidation phase" of this crypto revolution where we will see a surge in M/A of smaller entities by larger tech and fintech firms. At the end of the day, common sense typically rules. Not every blockchain platform is going to have the escape velocity and partnerships to make it to the finish line no matter how advanced and novel their blockchain tech stack is. To be honest, I fully expect Ripple to continue making these small acquisitions in the short and long-term. 
    After all, Brad G. did revealed that Ripple was "in a very strong position, our business is growing strongly, we have a strong balance sheet, and I intend to press our advantage.” He also emphasized that Ripple would continue to make substantial investments and even "out-right acquisitions" within the blockchain space in the future "to accelerate our growth and give us more capabilities that serve customer needs." 
  6. Like
    JoelQuinn reacted to Benchmark in Brad Garlinghouse Responds to FUD (Litigation, XRP Sales, Etc.)   
    Here's the discussion: XRP needs to be distributed for RippleNet to be successful and Ripple decides how. 
    Some XRP hodlers will, meanwhile, never be satisfied with any rationale for this distribution while their "investment" is not valued to their liking.
  7. Like
  8. Haha
    JoelQuinn reacted to Ripple-Stiltskin in SBI VCTrade is live !   
    Trolls everywhere...
  9. Like
    JoelQuinn reacted to Tehol_Beddict in (SBI backet) Sentbe considering xCurrent   
    Thanks @GiddyUp @Dutchpinoy
    It’s a mixture of things. The mods started pushing the dot connecting out of the main threads. Also, the dots have become less apparent to me. I can’t tell if it’s because I’ve been way too busy to obsessively dot connect or the powers at be are doing a much better job at hiding the dots. I sense it’s the latter.
    This one is always top of mind lately if you look at what’s happening with post offices around the globe: 
    I haven’t been researching nearly as much as I was in the past but I have a strong sense that the dots are being hidden much more effectively. Global regulators and corporates keeping things under wraps. Still as confident as ever. Just have an EdTech business to run that’s taking up all of my time again.
  10. Like
    JoelQuinn reacted to GiddyUp in (SBI backet) Sentbe considering xCurrent   
    Miss you @Tehol_Beddict you always dug up the best stuff 
  11. Like
    JoelQuinn reacted to JannaOneTrick in Q2 2019 XRP Markets Report   
    Q2 2019 XRP Markets Report
    24th July 2019
     
    Q1 escrow: 2.30 billion XRP were returned to escrow.
    Q2 escrow: 2.10 billion returned to escrow.
    xRapid transactions increased 170% from Q1 to Q2.
    Ripple had a 30% increase in the number of live xRapid partners in Q2.
    Ripple decided to pull back from providing XRP over-the-counter at scale toward the end of Q2, in light of the OTC desks’ ability to source institutional demand for XRP in the open markets. Going forward, Ripple plans to focus institutional sales on markets where the on-exchange liquidity for XRP is insufficient to meet institutional demand.
     
    https://www.ripple.com/insights/q2-2019-xrp-markets-report/
  12. Haha
    JoelQuinn reacted to Benchmark in Q2 2019 XRP Markets Report   
  13. Like
    JoelQuinn reacted to automatic in Q2 2019 XRP Markets Report   
    Good stuff.  Underlined should have positive future price impact.
    "Ripple’s long-term view is that efficient, liquid XRP markets should resemble the traditional FX markets, given XRP’s use case of global value transfer. As a large portion of FX trading occurs on the OTC markets, in 2017, Ripple began providing, through XRP II, a licensed subsidiary, OTC purchases of XRP to meet institutional demand, at a time when XRP/USD liquidity was limited. Since then, XRP listings increased as Ripple has partnered with the top digital asset brokers and used inventory to serve as a backstop for XRP liquidity. This allowed these OTC liquidity providers the ability to source XRP, even when institutional quantities of XRP were difficult to access across exchanges.
    Ripple decided to pull back from providing XRP over-the-counter at scale toward the end of Q2, in light of the OTC desks’ ability to source institutional demand for XRP in the open markets. Going forward, Ripple plans to focus institutional sales on markets where the on-exchange liquidity for XRP is insufficient to meet institutional demand."
  14. Like
    JoelQuinn reacted to Plikk in I'm out.   
    Bullish 
  15. Like
    JoelQuinn reacted to invest2lose in I'm out.   
    Never understood the point of these threads.
  16. Haha
    JoelQuinn reacted to hallwaymonitor in SendFriend use Xrapid   
    Good XRP news <=> XRP price dumping. Let me check the price. OK, we are are -17,55 % down. So, everything is normal. Just chilax.
     


  17. Like
  18. Haha
  19. Thanks
  20. Like
    JoelQuinn reacted to rootvegetable in David Schwartz twitter comment clarification.   
    hehe, good to see you holding down the keynesian fort my friend! I hear your points, but I'm only interested analyzing and measuring the choices imperfect people actually make, not the theoretical and hypothetical utility maximization people might do if they had perfect knowledge and perfect information. Anyhow, this isn't really the thread to debate the different schools of economic thought. If you can apply the school of your choice to answer OP's question in a way you find satisfactory that would steer us back on topic.
  21. Like
    JoelQuinn reacted to KarmaCoverage in David Schwartz twitter comment clarification.   
    Think more in terms of Liquidity in a plumbing system. So some water/value goes in (on the outgoing exchange), the value moves through the system and some water/value flows out at a different location in the system, the in comming exchange of (RippleNet/IoV).
    The water which flowed out, is not the same water that flowed in. The water inflow, just pushed some water out of the other side of the system.
    The amount of water in the system (aka demand = supply) is not pertinent, it is the value/water flow rate through the system, that is the "liquidity".
    Think of RippleNet and XRPLedger and the IoV as pumps in a plumbing system. The higher the volume of flow, which can be pumped through them... the higher the utility value of the pump/system.
    Just like you pay more for a big pump, than you pay for a small pump.
  22. Like
    JoelQuinn reacted to JannaOneTrick in IMTC - "Alternative to Swift" + July 1st event   
    International Money Transfer, Remittances & X-Border Payments Conferences

    Link to the page
     


    Link to the agenda (pdf)
     
  23. Haha
    JoelQuinn reacted to Benchmark in I keep seeing Facebook coin / XRP rumors BUT   
    If he deletes Twitter, that removes everyone he follows. 
    Please be more clear with the chronological order of your advice.
  24. Like
    JoelQuinn reacted to CountZerpula in SCB Thailand will announce their XRP system "Soon"   
    This is really what it all boils down to.
    It's actually much bigger than SCB 'using XRP'. 
    As @Pablo stated:
    " ... one has to conclude that the SCB rep could mean absolutely anything."
    Hard to disagree with that, and it works both ways - it could mean nothing at all, it could be that they were in fact referring to a specific xRapid JPY/THB corridor, twice -- it could be that when they say "XRP system" that they are referring to xRapid for yet a third time - but none of it really matters right now. It will take however long it takes to roll out, and if one doesn't believe that and/or doesn't have the patience to see it through, that's another issue entirely. Tweeting 'wen XRP' at the Bank of International Settlements, and threatening a class-action suit against SCB isn't going to speed up XRP adoption.
    IMO it's likely they were referring to another corridor, in addition to the established network that we already know about:
    (October, 2018) 
    https://www.cryptoglobe.com/latest/2018/10/ripples-director-of-product-talks-about-ripplenets-multi-hop-feature/
    "Q: So, who on RippleNet is using this feature??
     A: ... [SCB] are allowing customers to facilitate payments through Siam Commercial Bank into Cambodia, Laos, Myanmar, Thailand, and Vietnam.
    (For newer investors that may never have sorted through what Multi-Hop is, the above article is one of the best overviews I'd seen.)

  25. Like
    JoelQuinn reacted to King34Maine in The Issues in the International Payment Space   
    @mars75 It's been a while. Thanks for the post!!!
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