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  1. Higher Transaction Costs

    So here is the answer to the problem, I guess - by the master Himself - problem is - what is causing the issue?!? a sudden attack or a bug - unlikely!!! - a behind the curtains, network load - Juicy Guess !!! External (friendly) sources at Play?!? - I am dripping !!!
  2. Good stuff Maan - if you have the stomach to risk it - and come up with more Zerps at the end of the day - more power to you - that is what - after all - distinguishes (if I spelled that correctly) - Godz of trading - 6th sense prodigies - from - mere lucky ******** like Me and the Company........
  3. Cool - yes maan - you invested early and became (about to become a billionaire !?!) - but question is - are u holding or sold early - and no longer a God, but a mere mortal.....
  4. Chicken or the Egg

    Swift is a messaging service where all the settlement is done via banks that are on the way of the message that swift have sent. The more inefficient the corridor, the more banks will be on the way of the message, the more counter party risks, slower settlement times and more expensive the payment will be. Swift is dealing with trillions of dollars on a daily basis, and thus the amount locked up in nostro accounts in the banks around the world is even larger. It is possible today for a financial institution or any private or commercial entity to send the payment via Ripple Network without the use of XRP (only fee in XRP will be taken) but there still be long settlement times and counter party risks. If a financial institution gets Ripple platform software to transfer payments, (with bunch of platform related technicalities) they will need to input fiat into the Ripple Network through a gateway (Ripple platform in this case) and the funds will take time to settle (probably hours) and then they be available on the network. Counter party risk is low in this instance, but still present - its much higher if you go through traditional gateways. So then, this financial institution can send this fiat as IOU on the Ripple Network and it will arrive at a destination account within seconds. In essence though, it is still a nostro account, nothing changed settlement vise, or counter party risk vise, only speed is much quicker and cost of payment transfer is lower. Now what happens, if they need to send more money fast?!? and they have no fiat IOU's anymore on the network, same process as above will incur, they need to get more fiat into the system which will take hours to settle and counter party risk; So now comes XRP into play, it is a network native digital asset/currency with no counter party risk, and settlement within 4 seconds time. If a said financial institution holds enough XRP on hand, it can transfer and settle the payment in seconds in the form of these XRP, pay tiny costs, and not wait hours as in the previous example. So now the issue for this financial institution is where to get the XRP, common logic (if you are a big financial player) is to source it via Ripple the Company. In this case such institution will buy many millions of XRP from Ripple directly, but what happens when XRP are limited for sale to only 1 billion XRP a month and there are many financial players that want to acquire them from Ripple the Company? Few players will not be able to get them directly from the company, and will need to source them directly from open market. The problem is that currently XRP is below 0.20 cent USD and they will need to buy millions of them on the open market, and liquidity is just not there. One such institution can swap the liquidity of top 5 exchanges in one swoop driving immediately the price sharply up. As a consequence of that, and the fact that many financial players will try to buy on the open market cause of limited supply of XRP from the parent company, price will increase dramatically, thus pouring the liquidity in the system and unloading the sell pressure of XRP by Ripple the company. In this case problem of liquidity in XRP markets would be quickly solved and via the loop process in the ecosystem (where more players will be entering) the valuation of XRP will constantly appreciate. So the end effect, when a financial institution will need to send 100 million $ to another financial institution, they will be able to, fast, cheap, consistent, with no counter party risk and real time settlement. They will use their XRP stack in the system or if they need to go the open market to source the needed XRP, they will able to get them there fast without overloading the exchanges or brokers, cause the markets will be liquid by then with XRP prices much higher than the current levels. When price per XRP will be, say 20,000$ - it will be much easier for said financial institution to send 100 million USD as compared when the price of XRP is bellow one cent $ as the case nowadays........now we only need the network to spread - ecosystem to evolve - regulators and bank inner circle on Ripple's side - and then the financial revolution be complete - long live The King - God save the queen - [ ]
  5. Gatehub is Not doing nothing

    Gatehub is not a hosted wallet, they provide you an individual private wallet with a unique private key. Also, their gateway to the XRP network with decent options to exchange various digital assets is pretty solid !!!
  6. Higher Transaction Costs

    If Ripple owns Us nothing, done deal, don't worry, about the banks and especially the world.....It's transparent enough !!!
  7. Higher Transaction Costs

    ....I doubt Ripple needs to explain anything, especially in front of an audience.....
  8. Higher Transaction Costs

    .....Of Course we Will !&!.......
  9. Higher Transaction Costs

    We are finally about to go Live to the Moon !!!
  10. Higher Transaction Costs

    Maybe some private channel transactions causing it, which, if i remember correctly some UAE bank was using (when someone argued it meant they were using XRP for payments "Live" but someone countered saying the bank used private channels for transactions - whatever that meant) So maybe officially it shows that there are only a few transactions per second on the network, but in reality something deeper going on via those "private channels" Abu Dhabi bank or some other bank related.......that is why there are maybe 1000's or millions of transactions bottlenecked in the queue and Ripple API going loco with all these high transaction fees........I guess if it is something of this sort, Ripple possibly officially cant comment on the issue, cause its not public info yet.......
  11. I like how this JP Morgan CEO still probably has no clue about differences between bitcoin and other crypto (or pretending he doesnt) His arguments for or against are a bit funny to listen.....they make the members of our hometown (XRPChat) look like geniuses ( FuD spreaders or Lambo maniacs alike - doesnt matter) This community should be proud of itself - we have some great innovative minds as our asset - lets just hope the financial "bosses" up their game a notch and start to really do their homework to find world crisis solutions and not just talking child nonsense about good or bad asset classes and proud (but lucky) investments that their children may of or may have not of done.......
  12. Higher Transaction Costs

    ximinez commented 15 days ago @donovanhide Thanks for the feedback and your question. As far as we can tell, yes, everything is processing exactly as designed. To prevent runaway resource usage and/or abuse, the queue was implemented with a size limit of 20 ledgers' worth of transactions (https://github.com/ripple/rippled/blob/develop/src/ripple/app/misc/FeeEscalation.md#other-constants). If the network was staying healthy, and there were no problems with consensus times (and I haven't seen any evidence of problems yet), then it's safe to presume that the expected ledger size was at least 50, which means there were at least 1,000 transactions in the queue, which is honestly pretty impressive! Looks Intriguing !!!
  13. Higher Transaction Costs

    Maybe they just not regular transactions, but of some complex type ?!? I would think there is a lot of tuning to do before anything goes Live - maybe we are seeing some "behind the curtains" stuff - hard to tell for sure - but interesting as Hell
  14. Higher Transaction Costs

    My 6th sense says "its not a problem" - it feels like some "big boy" dynamics are involved......stress tests - network expansion - live crossfires - ripplenet adjustments - etc.....