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  1. Socrates

    Ripple on CNBC

    In addition to the Ripple and xRapid part, other people in the community have highlighted another interesting part of this, which is Vinny Lingham stating that «(...) Miners need to sell, just in Bitcoin alone, somewhere in the region of $200M worth of Bitcoin a month, just to basically cover their cost. (...)». It starts at around the 11 minutes mark.
  2. Socrates

    XRP: time for some hard decisions

    Not so much if: they are using a VPN with a good provider especially if paid with harder to trace payment methods; account is registered with a single usage email address; while commenting in the forum they managed (haven't checked) to steer away from giving nuggets of information that could lead to their identity; They are still creating a footprint, but one that is harder to connect to real world identity. Of course the more they write, the easier it is to use writing/speech analysis software. But even for that you still need something to test it against and even then it may be a false positive. Remember that the XRPL is public and you can follow the XRP flow. Moving it from an exchange to an account and back to an exchange leaves a trace, lost within the exchange, but the nugget of information is uncovered if you publicise that that account, or any directly funded by it, is yours on Twitter, Facebook, Forums, etc, closer to your real identity. [/tinfoilhat] P.S.: It's sensible to be cautious, but it's not the end of the world if your identity is uncovered. Be alert, be cautious but don't let that lead you to a paranoid spiral that will cause a lot more damage to your mental health (and then physical) than any potential targeted attack would have.
  3. Just a small correction: it has been around for more than two years, at least for transfers within participating banks in the UK. I've personally used it frequently in the past (over the last 6 years) between two UK bank accounts, with the money being transferred (for all practical purposes) instantly. Believe it was officially launched back in 2008.
  4. Socrates

    Iranian XRP Validator - your thoughts?

    Independently of how we feel, perhaps this isn't the right place to discuss this?
  5. Socrates

    Iranian XRP Validator - your thoughts?

    Believe the issue rises when an hypothesis starts being presented as a(n almost) certainty. I also enjoy reading narratives that try to connect several aspects of our societies, showing how some things may affect the others and drawing attention to the small things that escape a lot of people. However I start to take issue when the person abandons the realm of possibility and starts using a language of certainty. That, for me, is a red flag that they'll ignore/omit relevant facts that don't fit their narrative and only search and take into account those that seem to support their case. P.S.: Unfortunately, in some of the texts I've read, I've seen that red flag.
  6. Socrates

    Any insight on this Moneygram relationship?

    What are the main advantages of using Monegram and Western Union when transferring money to another country (that is not part of something like SEPA)? Would using XRP at this point cover their needs in all the corridors they serve? What would be the impact, on the fees (and negotiation power) charged by their banking partners, of using XRP for the corridors where there is enough liquidity while leaving the current model for the less popular and liquid corridors? Sometimes it may be less painful for challengers (sometimes completely owned by only one or a handful of entities) to adopt new technology that lowers the cost of entry to an industry/service, defying the incumbents' dominance. They can also focus on the big, juicy corridors first, and then when liquidity has improved in others, jump on them.
  7. Wietse Wind (@xrptipbot, wietsewind on Twitter) made some good tutorials on how to set up and (optionally) verify a validator: How to run a Ripple Validator @ DigitalOcean Verify your Ripple Validator & show your domain This won't make you any money/XRP directly (it's not like "mining"), unlike Codius [1]. Indirectly, very indirectly, it may, since it contributes to the building of a more decentralised and redundant XRPL. If anyone decides to set up a validator, I'm sure people here will be glad to help (I am). Just remember that this has a monthly cost associated with it, unless you are able to arrange a server to host it for free for you. No one should feel bad if this is not something they can afford (time or moneywise): from each according to their ability. [1] - which at the time of this writing is greatly overprovisioned: 74 active contracts for a capacity of over 14 000.
  8. Would you be able to provide more details? Are your solutions trying to solve an identified problem? Are the current methods causing trouble? Will the solution greatly improve the current methods? Why is XRP and a distributed ledger a good solution for it? What are the risks of adopting XRP for what you want to do? Sorry if the questions seem like trying to put you down. They are not. Just questions we should always ask and I imagine you already have and probably answered, but we don't have that information.
  9. Socrates


    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).
  10. 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.
  11. 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"?
  12. 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?
  13. 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.
  14. 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.
  15. Socrates

    Does Claire still work for Ripple?

    How and when would you think she should engage with the community in this forum?