T8493

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  1. T8493 liked a post in a topic by Live4xrp in Al Rajhi Bank Completes Transaction Using Blockchain Technology - Ripple   
    Al Rajhi Bank (ARB), the world’s largest Islamic Bank, has completed a secure, cross-border money transfer using Ripple Blockchain Technology. This successful transaction marks the first time the technology has been used in Saudi Arabia.
    The Kingdom of Saudi Arabia is the 2nd leading country for remittance in the world. Al Rajhi Bank specifically is the leading bank in the region for remittances, with over 200 remittance centres across the Kingdom. The Bank is working closely with the Saudi Arabian Monetary Agency to make such technologies widely available to its retail and corporate customers.
    http://www.alrajhibank.com.sa/en/media-centre/news/pages/blockchain.aspx
    To my knowledge not been posted sofar....
  2. Takio liked a post in a topic by T8493 in Golem SONM Passwords and Cryptocurrencies   
    A quick back-of-the-envelope calculation shows that 100 million computers need an order of magnitude 10^50 years to go through all possible private keys....
     
  3. Takio liked a post in a topic by T8493 in Golem SONM Passwords and Cryptocurrencies   
    Ok, just look at the average prices of Amazon spot instances and you can get an estimate of how much this will costs. Assume that the average computer that participates in this scheme is similar to Amazon m4.xlarge instance type. Let us say that running such instance costs just $0.02 per hour. Running 100 million computers for one day would cost $48 million per day.
    It is much cheaper for an attacker to build specialized hardware for this attack.
    BTW, there is a large oversupply of cheap & unreliable computing power on the Internet and projects like Golem may never become "mainstream" because there is just not enough demand for such services.
     
     
  4. Takio liked a post in a topic by T8493 in Golem SONM Passwords and Cryptocurrencies   
    You're still safe even if 100 million computers start a brute-force attack on private keys (assuming they were properly generated).
    But do you think that owners of these 100 million computers won't notice that these machines just waste electricity?
    I'm not sure anyone can answer this because I doubt anyone has audited this hardware device. Such unconnected "small" devices *can* be notoriously bad at generating random numbers because they don't necessarily have access to a good source of entropy.
  5. Takio liked a post in a topic by T8493 in Golem SONM Passwords and Cryptocurrencies   
    Ok, just look at the average prices of Amazon spot instances and you can get an estimate of how much this will costs. Assume that the average computer that participates in this scheme is similar to Amazon m4.xlarge instance type. Let us say that running such instance costs just $0.02 per hour. Running 100 million computers for one day would cost $48 million per day.
    It is much cheaper for an attacker to build specialized hardware for this attack.
    BTW, there is a large oversupply of cheap & unreliable computing power on the Internet and projects like Golem may never become "mainstream" because there is just not enough demand for such services.
     
     
  6. Takio liked a post in a topic by T8493 in Golem SONM Passwords and Cryptocurrencies   
    And who will pay this?
  7. Takio liked a post in a topic by T8493 in Golem SONM Passwords and Cryptocurrencies   
    You're still safe even if 100 million computers start a brute-force attack on private keys (assuming they were properly generated).
    But do you think that owners of these 100 million computers won't notice that these machines just waste electricity?
    I'm not sure anyone can answer this because I doubt anyone has audited this hardware device. Such unconnected "small" devices *can* be notoriously bad at generating random numbers because they don't necessarily have access to a good source of entropy.
  8. Xi195 liked a post in a topic by T8493 in Cold storage still "essential"?   
    Just audit their JavaScript code and you'll see.
    It is easy to see that they have access to your (unencrypted) password in Chome/Firefox/IE developers tools (network tab). Therefore, GateHub has access to all info that your browser has and your browser is capable of decrypting your secret keys.
     
     
  9. Mr760 liked a post in a topic by T8493 in Alzheimer's Nursing Homes in Nova Scotia - Accepts Crypto currency   
    Moving to off-topic because it is not directly related to Ripple/XRP.
  10. Xi195 liked a post in a topic by T8493 in Cold storage still "essential"?   
    Just audit their JavaScript code and you'll see.
    It is easy to see that they have access to your (unencrypted) password in Chome/Firefox/IE developers tools (network tab). Therefore, GateHub has access to all info that your browser has and your browser is capable of decrypting your secret keys.
     
     
  11. enrique11 liked a post in a topic by T8493 in Cold storage still "essential"?   
    AFAIK GateHub (still) has access to your (unencrypted) password and can decrypt your Ripple account secrets with this password.
     
  12. T8493 liked a post in a topic by Sukrim in Users advised to add credit links???   
    No, if you only care about XRP (for whatever reason), you don't need to add trust lines. It definitely doesn't have to do with the security of your private key.
  13. T8493 liked a post in a topic by jargoman in Gtk based ripple client update   
     
  14. T8493 liked a post in a topic by JonHolmquist in Who are the Ripple Validators?   
    Thanks, I updated it in the article.
    attokyo got back to me as well, they apparently do have a ripple.txt live, so I updated their section too.
  15. T8493 liked a post in a topic by JoelKatz in Noob question, dont attack me pls   
    The short answer is that even with the cost of hedging against that risk taken into account, it's still cheaper to keep one pile of XRP (that you can send wherever you need to exactly when you need to) than many piles of fiat currency (every place you might need them to be).
    The long answer: https://ripple.com/files/xrp_cost_model_paper.pdf
     
  16. NanamiIsLove liked a post in a topic by T8493 in Horrible News For Ripple?   
    Because they can't send money to any bank that is not using their technology (that means to 99.999...% of other banks in the world).
     
     
  17. Hodor liked a post in a topic by T8493 in "Streamlining" Ripple Offerings   
    I think Ripple answered this in this American Banker article:
     
     
  18. Spekul8 liked a post in a topic by T8493 in Ripple XRP added to Plus500 trading platform   
    Then they short that amount - either from their own reserve or using some other liquidity provider.
    However, they had to buy their reserve first on the market.
     
    Maybe not brokers themselves, but their liquidity providers (or someone else down the chain).
    The link I posted was the first Google search result with an explicit explanation. There are other more "credible" sources. Or you can go to btc-e, download MetaTrader and see if the execution of your MetaTrader CFD orders appears on the trade history of the regular btc-e exchange (if I remember correctly, it doesn't happen always/often).
  19. xh3b4sd liked a post in a topic by T8493 in Gatehub - please implement sortable Transaction overview and export!!   
    You can view or export your RCL transactions using other tools, too.
    There are some scripts somewhere that export transactions in a format appropriate for tax purposes. Google it.
     
  20. pedrorechez liked a post in a topic by T8493 in MIT Tech Review: First Large-Scale Analysis of the Ripple Cryptocurrency Network   
    My initial observation was that community (according to your definition) around some Israel gateway(s) significantly increased in 2016 (Figure 4) despite the fact that this gateway was dead and it was basically unknown in the Ripple community.
    This just doesn't make sense from the economical point of view. I'm not questioning your result from the graph-theoretical point of view.
    payroutes.com certificate expired 467 days ago and that means they were already dead in the first half of 2016.
     
  21. T8493 liked a post in a topic by pedrorechez in MIT Tech Review: First Large-Scale Analysis of the Ripple Cryptocurrency Network   
    Hello guys,
    my name is Pedro Moreno-Sanchez and I am one of the authors of this paper. First of all, I am really glad that you are going through the paper and have these insightful conversations. Please, don't hesitate to continue sharing here all the comments that you might have. This is an ongoing work and this feedback is greatly appreciated.
    Let me answer some of the questions that arose:
    As we write in the paper, "We first extract communities using the Louvain community detection algorithm [22] as implemented in the Gephi software [20]". Oversimplifying it for the sake of brevity, this community detection algorithm, used in other studies as well, takes into account the graph and not the transactions among the nodes in the graph. Therefore, it is possible that the algorithm detects a community in the graph although there might not be many transactions among the nodes in such community.

    As some of you might know, I have been doing research on the Ripple network for several years and I have been collecting data regarding the gateways over this period. Therefore, although RippleIsrael's website might not be currently available, it has been available at some point in the Ripple lifetime (e.g., in 2013 where they published the slides mentioned above), and therefore I have collected the corresponding data at some point during my research. Nevertheless, I agree that we could have made this point clearer in the paper.
    I was not aware of this exact list but I knew that some of the gateways might have become inactive over the Ripple's lifetime. Even if the gateway is indeed dead, the credit links with the gateway's wallet are not deleted from the Ripple ledger and therefore used in the community detection algorithm. As I said before, this is an ongoing research work, and we will look into adding extra information into the community detection along with the graph.
    Nevertheless, it seems curious to me that there are still recent transactions involving PayRoutes wallet (e.g., in the last 30 days). Moreover, there is a considerable amount of wallets connected to this gateway, some of them with a reasonable high balance. Several wallets have a limit in the credit link higher than the balance, which can be prone to security problems due to rippling, as we discussed in the paper.
    One thought I had and that also popped up in some of the conversations I have had with some colleagues is that there is not a standard way to "calculate the reputation" of a gateway and more importantly, to know whether the gateway remains active. A best-effort approach as done by the members of this forum is really useful but might not be enough for all Ripple users.  I think it would be interesting to have a better way to determine the *current* reputation of a gateway and more importantly, whether it remains active for all users in a somehow automated fashion.
  22. T8493 liked a post in a topic by Rabbit_Kick_Club in Who are the Ripple Validators?   
    Each network participant can use their own criteria to determine how likely validators are to collude. E.g., if Bank X posts on their website saying they will launch a validator, and a new unverified validator comes online at about the same time, one might infer that X is running the validator, even if it isn't verified. Thus, I still don't see this as a "fact". I see it as a "We don't have enough information to trust that MS is running a validator".
    "Until those entities go public about it, they're not running a validator" and "It prob. makes no sense to trust they are running a validator" have completely different meanings.
    Until now, you had no idea who was behind our validator, however, it is a fact that we were running the validator during that time. You had no reason to trust our validator, but it was running. Other people who we personally knew might have made a different decision to trust our validator - trust is subjective.
    I agree that MS's validator is essentially dead in the water, until they are more public w/ it (assuming it even exists). I also agree that more participants is the only way to prevent collusion. Since there are about six of us non-Ripple-affiliates running validators, trust is inherently lacking. Even if you know I am not affiliated w/ Ripple, they could offer me a huge sum or XRP to collude w/ them in some way or another. They could also potentially trick me into colluding through a malicious rippled update.
    I added a link to our PGP key in the RabbitKick.Club footer. The signature on the RKC key can be verified using the public key on the Contact Me page.
    The jscottbranson.com site is dedicated to my professional work, and I don't want to intermix my Ripple hobby w/ my professional work, so I don't want to crosslink. You are also welcome to drop me a line using my publicly available .edu email address.
    I prob. should have said this earlier, but we really appreciate you doing this work! It is quite useful to have an understanding of which unverified validators are run by potential employees. Knowing this scratched an itch, so to speak.
  23. T8493 liked a post in a topic by tulo in Who are the Ripple Validators?   
    Ripple validators seems very robust and reliable.
    The problem is at handling other validators 
  24. T8493 liked a post in a topic by Thessaly in Long time lurker, finally joined!   
    Hey there!
    I first got into the crypto space about 2 years ago. Started with Bitcoin but found Ripple shortly after and it kinda clicked for me. Nowadays I'm 100% in with XRP. Well I have some play money that I throw into ICOs occasionally (looking at Rialto next.)
    Anyway, I decided to join cause I've gained so much knowledge from this forum over the last couple years. The difference between the Bitcoin forum and here is staggering. I'll probably just continue to lurk, but there are a lot of great minds here and I wanted to throw down a bunch of likes to my favorite posters 
    Also a huuuge shout out to @karlos for the wonderful community he has given a home to!
    Thank you everyone! Long live the zerp!
  25. T8493 liked a post in a topic by BDXRP in Ripple XRP added to Plus500 trading platform   
    Well I work for an fx broker and when someone purchases THB or NZD for example, We as a broker may not hold the asset straight away but we have to purchase the currency from our liquidity providers which happen to be Barclays or Commonwealth bank. 
    ECN brokers would work the same, they would purchase their currency through their liquidity providers. If there liquidity provider didn't own XRP how could they sell it to you? 
    Joel mentions about holding XRP as an asset in his post (if it all works) all I am saying is its good that Fx brokers are listing it on their exchanges even if its CFD because obviously their is a high demand for it otherwise you wouldn't list it.