Jump to content

Socrates

Member
  • Content count

    62
  • Joined

  • Last visited

  1. Socrates

    TAX

    Does Japan requires capital gains, for individuals (not companies), that were realised in Japanese financial services, to be taxed in Japan independently of the person's fiscal residence? What about Indonesia? Accountants with knowledge of either/both countries' taxation laws should be able to answer your question. It is highly dependant on each country's laws and how they treat foreign investments: what works, for instance, within most other countries might not be valid for either of the ones you mentioned (or it may work similarly).
  2. Socrates

    Does Claire still work for Ripple?

    Thank you for the clarification. Given the current push by Ripple to establish, or make it clear, the (obvious) difference between the company and XRP (and the network to which its native to), what would be, in your opinion, the prudent approach to showing appreciation (blanket, without a context or in very particular conversations) or confirming courses of action? Regarding XRP being a security, independently of what we think, it's up to the institutions with a legal mandate to make those decisions to do so. Unless there are legal instruments that Ripple can use to require a decision within a certain timeframe, there isn't probably much they could, are allowed, or think it's beneficial (to a good outcome) to tell us. Discretion is sometimes required (if that's the case or not, I don't know, but speculate it might be). About xRapid - time, money, scope: pick two. Anyone that works with software will tell you that it's ready when it's ready. You can set a date as much as you want, but that won't change the fact that all the features you want may not be ready by then. The further you go into a project, the more information you gather, the more you learn, the more unknowns you uncover and you are constantly updating your perception of when you think it could be ready. Managing expectations of when a project is going to be "finished" or "ready for production" is already hard when you are only working within your organisation. It becomes even harder when interacting/integrating with other organisations. This probably explains why they haven't been clear, or even evasive, regarding dates. How would you feel if they said that xRapid would be ready by Q3 2018 (better to be roughly right than exactly wrong, right? ) and then uncovered problems that meant they would fail to deliver during that period? Same thing applies for a SEC decision on whether XRP is a security or not. One thing we all need to remember is that regulation and legal matters can be complex. Apart from the legal cases, I don't know if other processes are secretly underway by regulators or other institutions. Risk management becomes more important than ever and this means being really careful with what you say, especially when you are under scrutiny and fighting what some people would consider to be an uphill battle against entrenched interests. Again, this is my personal reading of the situation. Take it with a grain, or two, of salt.
  3. Socrates

    Does Claire still work for Ripple?

    Commenting ongoing legal issues or open questions (or what happens after), namely providing timescales (even if estimates based on what they know now), is usually a bad idea, especially if what is said is then going to be used by people/institutions to make financial decisions. If they were able, allowed, and thought it would be a good idea to share more information without running into trouble, think they would've already done it to a wider audience. Just to make it clear, I'm not, nor was I ever in the past, professionally associated with Ripple or their employees (to the best of my current knowledge); this is just my reading of the situation. Would you be able to clarify what you mean by "we are on the right track" (doing what and track to where) and your understanding of "dedication to the company"?
  4. Socrates

    Just how many people hold XRP?

    How much time do you have? "the times they are a-changin" Hope you don't mind, but just throwing a few questions, more for reflection than requiring an answer. Ignoring for a moment the (great, as in well though) push that Ripple is making with xRapid, do you see XRP as a pure bridging asset or do you think there's more to it? How is the way it's used going to impact the people that see XRP as an investment rather than utensil for their operations? And its value and market liquidity? How much impact would you say the number of people holding XRP has on the market behaviour in each stage of its evolution? How do you think a scenario, where there is enough market liquidity of XRP for institutional usage as a bridging asset, would play out? What about when there's little market liquidity (of XRP) and would that be positive or negative for those holding it as an investment? What are the different ways it could evolve from either?
  5. Socrates

    Just how many people hold XRP?

    Not going to guess because don't think we have enough information to have a good degree of confidence in any number we put forward (even if we discover later that we landed in the neighbourhood). However would just like to point out a few things (some of which have already been mentioned): (some) people keep their XRP in exchanges a wallet may belong to a business (which may not be an exchange, but banks, retailers, non-profits, etc) a person or business may have more than one wallet a wallet may have XRP belonging to more than one person (e.g.: family/friends pooling) a wallet may belong to someone that is no-longer interested in XRP a wallet may be inaccessible (loss of private key) with little probability of access being re-established Too many variables and little information about each.
  6. Socrates

    Does Claire still work for Ripple?

    There are a couple of reasons as to why they may not have said anything yet and for that tweet to not have been removed, despite them probably knowing about it. Listing them would be an exercise in public speculation, which I don't want to do at the moment. Regarding concerns around the extent of (access to information from) a compromised account, I would say there are pretty knowledgeable people at Ripple in regards to security. One would hope they have policies as to which kind of information is allowed to be exchanged in each channel (public social networking platforms, corporate email, private email, messaging application, etc) as well as sensible password policies (use of password managers, randomly generated long passwords, not shared between services, etc). This should minimise the impact of a breach in a public social network.
  7. Socrates

    Does Claire still work for Ripple?

    How and when would you think she should engage with the community in this forum?
  8. They seem to have removed the tweet and the property doesn't include XRP as an accepted form of payment (only Bitcoin and Ether). The seller might have changed their mind?
  9. By the way, you can find a list of exchanges that Revolut allegedly still supports (not all have XRP) here: https://community.revolut.com/t/kraken-sepa-withdrawal-reverted/38421/25 I would assume Kraken is looking into this... My (anecdotal) impression is that a lot of people were using Revolut to deposit/withdraw.
  10. Which method were you using? SEPA? P.S.: Seems that due to FCA compliance they had to cut Kraken. https://community.revolut.com/t/kraken-sepa-withdrawal-reverted/38421/32
  11. (if this is not new, feel free to lock/remove this topic - remember checking a few weeks ago and it wasn't yet available) Seems it's now possible to add XRP fiat pairs (XLM, probably others too) to the Stocks app/widget in iOS/macOS. Remember trying a few times since Yahoo! Finance made it available on their site but it couldn't find it in the app/widget. To my surprise, today it worked.
  12. "Faster Payments" is a company/system in the UK, unrelated to Ripple as far as I am aware: http://www.fasterpayments.org.uk They allow for nearly instant transfers (at least perceived so by the customer) between accounts in participating banks in the UK. Most of times the customer doesn't even notice they are using it, since they don't usually select any option in the online banking system, it's behind the scenes.
  13. Socrates

    How to prove address ownership?

    Thank you all for answering and discussing my query. @tev that's quite an ingenious solution. Probably won't be practical in the use case for which I would like to use a proof of ownership (average user, non-critical, more like privacy related), but it works. 👍 Regarding using a transaction w/ a memo, I also thought about that initially and thus why the third requirement is there. My concern is that certain entities, that hold XRP on behalf of their customers in collective wallets (e.g.: exchanges), could theoretically support withdrawals (transactions) with a memo. Most, or all, probably don't allow/support it at the moment, but they could. Due to this I don't think a transaction can be seen as a proof of ownership.
  14. Apologies in advanced if there's already a topic on this - couldn't find one specific to the issue via the search. Also apologies for any technical inaccuracy or mistake - corrections are more than welcome and appreciated. Issue How can an entity provide proof of address ownership to a third party? Requirements cheapest way possible (if possible without incurring in any XRP fee); causing the least restrictions to the owner's address (reserves, etc); not allowing exchange customers to go through with it on an exchange (or other non-ripple-escrow) owned address; Notes The (probably) obvious way would be to do a very small (token) transaction to the wallet owned by the party that requires the proof. However this could still be possible to do for an exchange customer with an withdrawal (if the exchange allows really small ones), thus not really proving ownership (since the address belongs to the exchange). Would setting up a very restricted trust line (using the minimum limit possible to set, effectively useless for its original purpose) do it or this would be a very hack'ish way and not really advisable? Thank you in advance.
  15. How would you characterise the risk that Bitcoin governance poses, from the point of view of any bank or financial institution looking into such solution?
×