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XRPforALL

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  1. Wow, not sure what to do with that. Clear he completely misunderstands how xRapid works given the countless examples by Ripple employees over many months. Can you explain what David means in this tweet? He clearly states that it's possible for an xRapid transaction to fail half way through, "it might (for example) buy XRP but not sell" Sounds pretty clear to me that xRapid buys XRP with fiat at exchange one, sends XRP payment on XRPL, then sells XRP for destination fiat on exchange two. It is not an atomic transaction given the variables involved (two exchange trades, xrpl payment, and the processing time for the exchange to send the XRP payment, and to process it when receiving it). As David mentions, the hard part of coding xRapid is dealing with all of the edge cases where things didn't go right. It is sort of sad that the DEX gateways and IOUs on the ledger never took off. The path finding abilities and single transactions currency conversions seem so much cleaner than all the pieces involved in xRapid.
  2. Different from other API's I watch, Bitso lists the "maker" side of the trade as a buy order. Meaning the market maker was buying XRP and the taker (xRapid) was selling XRP, which I believe is the correct direction.
  3. I MAY have found a transaction that could be the MercuryFX payment they tweeted about today. I have been tracking payments on the XRPL and trades at xRapid partner exchanges, hoping to find some evidence of xRapid activity. In looking back at transfers of the approximate amount of XRP required, I found one candidate on 1/10. I realize this was a week ago, but I also don't think the social media team at MercuryFX was waiting to tweet out their message the day of said payment. They could easily have posted about it a week later. Tx: 3C1037058B9960874B7951A934005D56648D78EB9A9ABCFB39F493F124344A61 January 10, 2019 7:42 AM UTC 12,811.502324 XRP Payment From Bitstamp to (suspected) Bitso address I realize Bitstamp does not have a GBP pair, but I think it possible that MercuryFX could have done the GBP-EUR conversion, or possibly a multi hop or xCurrent payment between banks to get to EUR in front of the actual xRapid transaction? What makes me think this may have been the xRapid payment is because I was also able to match it up with a Sell order on Bitso. January 10, 2019 7:43 AM UTC Qty: 12821.93325346 XRP Price: 6.76000000 Total: 86,676.26 MXN This Bitso trade happened with ~1 minute of receiving the XRP payment from Bitstamp. The net amount of MXN received was 86,676 vs 86,633 MercuryFX mentioned. I realize that the amount of XRP and the MXN received don't match exactly, but I believe that may be in part how xRapid works for the FI. David has mentioned recently there is a small amount of risk (i.e. price changes) during an xRapid transaction and the participants in the transaction are compensated based on how (and who) takes the risk. I suspect that MercuryFX's use of the xRapid system allows for them to build in a small margin into their exchange rate presented to their client to allow the transaction to be overfunded slightly, so they end up making a small amount if the price stays steady or moves in their favor prior to the sale at the destination exchange. If it goes the other way, they may take a small loss (but an acceptable amount because xRapid uses limit orders to prevent large slippage). In the end after 100's of transactions the price movements during the transactions probably averages out. What do you think? I have no proof this is related to xRapid or the transaction MercuryFX described. I could be in way over my pay grade here. Draw your own conclusions.
  4. I had read that before, but as David recently mentioned below, it's possible for part of an xRapid transaction to fail. His example, was it could buy XRP, but not sell beecause the rate changed by too much. I further asked what happened to that XRP in this scenario, but didn't get a response. I don't know that I've heard any recent descriptions of xRapid ever mention escrow, so I don't believe it uses an on ledger escrow. Also, not sure if you've seen it, but big twitter conversation around the order of xRapid execution recently here:
  5. In looking at the ~100 matched trades between bitstamp and bitso, the USD > MXN exchange rate varies from 19.78 to 20.61. When the rate was higher than 20.17 nearly all of the trades on the bitso side were the maker side of the trade being a buy. The remaining trades where the rate was below 20.17, most of the trades were sells of XRP. Over 95% of these trades that appear to be matching trades between bitstamp and bitso were trades where the maker side was buying XRP and the taker was selling XRP and also where XRP was purchased with USD on Bitstamp. This would be consistent with how xRapid would work, but I have still been unable to tie any of these exchange trades back to an XRPL payment.
  6. I have built myself a database locally and I am logging all XRP ledger payments and all off ledger XRP/USD trades at Bittrex, BitStamp, and XRP/MXN trades at Bitso. Each exchange makes their recent trades available via their public API. I have around 1 full day of data and so far I see no evidence of a FULL xRapid transaction (i.e. buy XRP at Bittrex/Bitstamp >> XRPL Payment >> sell same XRP on Bitso). I'll be curious to give it more time and see if anything pops up. As KarmaCoverage stated above, it's possible that xRapid won't be implemented in that way and the XRP payments could be aggregated and closed in batches over a payment channel. If that's the case, it's going to be difficult to really tell which volume is xRapid. It's also possible I'm looking in the wrong places. The wallets I've been watching for payments are: rDsbeomae4FXwgQTJp9Rs64Qg9vDiTCdBv - Bitstamp rPVMhWBsfF9iMXYj3aAzJVkPDTFNSyWdKy - Bittrex rLSn6Z3T8uCxbcd1oxwfGQN1Fdn5CyGujK - Bitso I have seen payments between both USD exchanges and Bitso, but none for amounts that I could tie back to an exchange trade. The most interesting thing I've seen so far has been a handful of matching orders placed buying XRP with USD at Bitstamp and then selling XRP at Bitso for MXN. Lots of these trades have been for pretty random and specific amounts such as 298.38120800 XRP purchased at bitstamp and the same amount sold within one second at Bitso. I could never find a corresponding XRPL payment for the same amount. May just be someone performing arbitrage buying and selling on both exchanges. If anybody has any other thought about what to look for I'd love to hear them.
  7. Does anyone know of a list of known exchange wallet addresses? I feel like I have seen such a list recently here or on twitter, but I can't seem to find it back.
  8. So Brad said the first payment was sent from US to Mexico in the last hour. Who can find that transaction on the ledger?
  9. The logic here is laughable. Have you never heard of arbitrage? Within seconds of the bittrex price going even 1% higher than other exchanges, bots will transfer xrp to bittrex to take advantage of the higher price. That selling will bring the price back down in line with other exchanges.
  10. Both bitstamp and gatehub have USD IOUs traded on the ledger. I think the hangup with a similar service is that the only way to get any USD to bitstamp or gatehub is an international wire transfer. The only way I would see this being feasible would be for a company to prefund their bitstamp account in a large amount and then set up a way to accept ach transfers in the US. Even at that, you would have to wait until the ACH transfer was completed (2 to 5 days) and I assume you would need to do kyc/aml checks and at that point you've basically created your own exchange. I would love to be wrong. An easy onramp from USD to XRP would be great.
  11. Figured out the issue and it had to do with timezone information. I was led to this wrong impression because of how xrpcharts displays transactions. For this transaction: 4E98531EB82FD5E4525528617FF722F750385FDC2AF7DD3DE03D035BC9DD72CD you can see in the screenshot that is it showing the transaction expired hours before it was submitted. Clearly that is not correct. The time at the top for the transaction is displayed in UTC, but the expiration is shown in my local time zone. If you check this transaction here: https://developers.ripple.com/xrp-ledger-rpc-tool.html You'll see this transaction was submitted at 585864700 and expires at 585864741, which is 41 seconds later. I was building my transactions trying to get the information to look right on xrpcharts, which led me to have my transactions expire hours later than intended.
  12. I had a scenario this morning where I had an offer placed on the XRPL that was filled about 15 minutes after it was supposedly set to expire. I always set the expiration to 3 minutes from the time the offer is created in case something happens and I don't get the order replaced or cancelled as expected. Looking at the transaction on XRP Charts the OfferCreate lists in the description "The offer expires at ... unless canceled or consumed before then." However, another account submitted an OfferCreate transaction that crossed with my expired offer after the price had moved 21 minutes after the expiration time and offer was partially filled. 3 other transactions went on to fill my expired offer several seconds later. Expiration is still referenced in the ripple developer docs. Does anybody know if this should work as I was expecting it to? https://developers.ripple.com/offers.html#offer-expiration
  13. To deposit XRP to Bitstamp, log into your Bitstamp account. Click Deposit in their header menu. Click Ripple (XRP) on the left side of the deposit page. Copy the address and Destination Tag listed there to send your XRP to. Don't forget the Destination Tag on your transaction. If you're sending from Gatehub (your XRP on the ledger), click on the Wallet menu item in the Gatehub UI and then the Send Payment link. Then in the send payment popup, paste in the Ripple address Bitstamp provided and then the destination tag and you should be good to go.
  14. Not sure I understand what you're trying to do? Are you trying to move XRP to Bitstamp or from Bitstamp?
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