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BLPinfinity

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  1. Thanks
    BLPinfinity got a reaction from Moonraker in Zerpening Club   
    Here's a beer cun7 đŸș
  2. Like
    BLPinfinity got a reaction from cryptoxrp in Poll: XRPTipbot on XRPChat   
    OOL
    Thanks for letting us know @Pablo appreciated it and totally understand the position of the mods. 
  3. Like
    BLPinfinity reacted to JoelKatz in Hi! I'm Bob   
    No, nothing like that.
    Community credit is about "money" arising from interactions between peers rather than between issuers and users.
    For example, suppose you do something for me and I allow you to "owe me one". The idea is for this to act as a currency. Someone who wants something from me (and who I don't trust enough to let them owe me one) wants me to owe them one rather than owing you one. So if they do something for you, you could give them the "marker" you got when you did me a favor and now I owe them a favor. These "markers" can function as a currency.
    It's kind of like a system where all that exists is balances between people. You may trust me enough to extend me credit. So when I want something from you, you may let me owe you $50 but no more. You now have a +$50 balance and I have a -$50 balance. Now if I want something else from you, I'm out of credit. So I need to find someone who either you owe money to or who will let you borrow from them and give them something for which they in return will restore my credit.
    So, for example, say you have Alice, Bill, and Charlie. Alice is highly trusted because she has a valuable commercial network and both Bill and Charlie are willing to let Alice owe them money. Alice needs something from Charlie and in exchange Charlie lets Alice owe her $20.
    So now, Charlie owes Alice $20. Alice can borrow from Bill or Charlie.
    Now, say Bill wants something from Alice. Alice won't extend Bill any credit because she doesn't trust him. But Bill can give Charlie $20 and in exchange for the $20 Alice owes him and now Alice owes $20 to Bill. Bill can pay Alice $20 with her own IOU.
    This is precisely how all assets other than XRP work in the XRP Ledger. They're always balances between accounts, either account can extend credit to the other, and balances can "ripple" through accounts.
    By having XRP in the mix, credit can be settled and restored immediately. For example, Alice can place an offer to give out a $10 IOU for 32 XRP. Now if someone owes Alice $10, they can buy a $10 IOU from Alice and the two IOUs cancel out. This will restore their credit.
    This is an implementation of Ryan Fugger's original vision of money arising out of community relationships and providing people a network of assets and credits they can contribute to and draw off of. Arthur's genius was to provide a system of gateways to allow the system to be easily connected to external financial systems to help avoid the problem of long paths or unidirectional flows.
  4. Confused
    BLPinfinity reacted to Kiwi in Hi! I'm Bob   
    I am confused
  5. Haha
    BLPinfinity reacted to EcneitapLatnem in Hi! I'm Bob   
    I found this hat. I think it might be yours.
     

  6. Like
    BLPinfinity reacted to BobWay in Hi! I'm Bob   
    Sorry to answer out of order, but I think this is closely related to what I just got done writing about.
    I addressed this in my previous post. I would absolutely expect that to happen.
    Ripple has a team called "Product" and a separate team called "Development".
    The Ripple development team has created a set of core technologies. Rippled, RippleConnect, the Interledger Protocol, the ILP components (ledger, connector, notary).
    The Ripple product team has take these technologies and "productized" them for certain markets. (xCurrent, xVia, xRapid) The Ripple marketing and communication team and sales team then promotes these products. Marcom through the Ripple website, press and conferences. The sales team through direct meetings with banks and payment service providers. 
    The marcom efforts are what tend to leak across to this site. What you don't really hear about are the core technology developments and how they underly current products. Once you understand that it becomes easier to guess about future products.So specifically, you hear xRapid is meant for non-banking financial institutions. That is absolutely true at the moment. What I hear is much different.
    I hear:
    We've put together glossy fliers to explain some core Ripple technology to payment services providers in these countries who serve these types of customers We're setting up press interviews to get word of this particular growth tactic into our targeted market We've also put together a sales team to approach payment service providers in those countries We've also put together operations and support teams to make sure anything they've deployed doesn't fall over We've also setup a markets team to monitory the prices and trading volume to make sure XRP is cheaper than alternative paths We've also has the markets team analyze alternative rebalancing paths than can compensate for one-way-flow price imbalances Note that all of the things I've bulleted build operation excellence. They don't actually constrain XRPs use to that particular market in perpetuity. At any given moment, the product and marketing teams might decide to take the exact same underlying core technologies and "re-productize" them towards a new set of potential customers. When this happens, all the operational excellence will transfer and the new teams will have a running start as they grow RippleNet.
    I think the "write a book" side is winning at the moment! 
    What I'm trying to clarify is that banks as gateways is exactly what Ripple is trying to achieve! It just seems like Ripple is taking a rather convoluted path to get there. There are several reasons for that. Early on we tried to sell Banks on the idea of being directly on the RCL (Ripple ledger) and allowing their customers to open accounts (trust lines) with them directly on ledger. The banks pushed back on this pretty hard. It is pretty easy to see why. The Ripple client was a bit hard to use and understand for someone who wasn't a crypto geek. The already had their own "web banking" clients and preferred to keep their customers in their own walled garden.
    Secondly, the banks really didn't like the concept of a "public" ledger. Banks are used to keeping all their relationships and transactions private.
    And third, all high volume financial institutions kept asking, "Will it scale?" Questions like, "Can you support every credit card transaction during the Christmas season?" There is no getting around the fact that consensus based systems have limits. If everyone world wide needed to reach agreement that every Chinese lunch CNY payment happened and serialize them into a single globally agreed upon sequence that seems a bit silly if you are a European bank specialized in local EUR payments. Beyond transactional scalability, you need to think about user account scalability. If you want to put 8 billion people on ledger and each of them is going to have a couple of trust lines and maybe market orders then you are looking towards 100 billion ledger entries. That means server get larger and operational costs do as well.
    User scalability led us toward a "hosted wallet" model.
    Most customer fiat accounts are kept off RCL at the banks that currently hold them. Only a single RCL account root is needed for the bank. Individual customers. All transaction are processed via RCL using source/destination tags so the institutions can figure out which customers were involved. RippleConnect was designed to protect the customer's privacy even though the ledger transactions among banks were still public.
    It did away with the need for publicly visible source/destination tags. It implemented the concept of "pre-transaction negotiation" between financial institutions. Institutions communicate off ledger to: Determine who Alice and Bob are Exchange KYC/AML information Decide if all parties are willing to participate in a transaction PRIOR TO moving any money on the RCL This ability to reject a transaction before it happens completely avoids the lossy reversal problem inherent with market based payments. ILP was Ripple's attempt to address the other banks concerns of privacy and scalability
    ILP based networks use bi-lateral communication between account co-parties. No one else sees those messages. ILP based networks are highly scalable because your server doesn't receive messages for transactions you don't participate in. Every Ripple product you read about is built out of a handful of core technologies.
    The Ripple consensus ledger (XRPL now). This is useful when you need synchronized transactions and no counter party risk. ILP based components (xCurrent, xVia). These are useful when you need synchronized transactions as well and privacy and scalability. RippleConnect's pre-transaction messaging and payment object. This allows institutions to agree on what they are doing and the costs, prior to moving money. xCurrent, xVia, xRapid all use the payment object and pre-transaction messaging concepts. RippleConnect 1.0-2.0 implemented hosted wallets for RCL RippleConnect 3.0 implemented hosted wallets for ILP   
    If you separate the core technologies from the product/marketing discussion it becomes much easer to see a roadmap that takes us all the way to the end.
     
  7. Confused
    BLPinfinity reacted to Vader-DeWelt in Hi! I'm Bob   
    did she then say: "that's nice aurther. do you want to have a real conversation with me now or do you just want to sit there and expect me to jump up and down in ecstatic delight because clearly WE ARE SO RIGHT?"
    honestly, who says sh** like that? i'd want to be a very very long way away from them, wherever they are. is there any background to this conversation, or do people just run around asking rhetorical questions all day long?
     
  8. Haha
    BLPinfinity reacted to RegalChicken in Hi! I'm Bob   
    It's funny. We asked them to send Bobs, and here you are. 
  9. Like
    BLPinfinity got a reaction from screenshot in Booted off the discord group lol   
    Bahahaha welcome to the salt mine. 
    Please sir, how much for a pound of your finest salt? 
    You can't cry about the topics of a club when you literally chose to join it knowing it's based on a cartoon bear and internet riddles 😂😂
  10. Haha
    BLPinfinity reacted to OzAlphaWolf in Bearableguy123 Thread   
    I hope that works out well for you then.
  11. Haha
    BLPinfinity reacted to LilBender in Booted off the discord group lol   
    I like how Trollaholics Anonymous is a great avenue for failed trolls to vent and get support from each other 
  12. Haha
    BLPinfinity got a reaction from LilBender in Booted off the discord group lol   
    Bahahaha welcome to the salt mine. 
    Please sir, how much for a pound of your finest salt? 
    You can't cry about the topics of a club when you literally chose to join it knowing it's based on a cartoon bear and internet riddles 😂😂
  13. Haha
    BLPinfinity got a reaction from OzAlphaWolf in Booted off the discord group lol   
    Bahahaha welcome to the salt mine. 
    Please sir, how much for a pound of your finest salt? 
    You can't cry about the topics of a club when you literally chose to join it knowing it's based on a cartoon bear and internet riddles 😂😂
  14. Like
    BLPinfinity reacted to XRPwinning in Booted off the discord group lol   
    Wouldn’t you like to know... y’all can just take your salty attitudes elsewhere. Your taking all this too literally. The riddlers are an opportunity to see the biggest of pictures 
  15. Like
    BLPinfinity reacted to RegalChicken in What % of XRP Will You Cash Out at $50?   
    Interesting. I'm really impressed that nobody here questioned the starting cash-out price. you know the HODL'ers now are all that remain. It sort of gives me goosebumps to think about what a 2019 bull run could do. 
  16. Like
    BLPinfinity got a reaction from Bearmark in What % of XRP Will You Cash Out at $50?   
    Ride or die!!!
  17. Like
    BLPinfinity got a reaction from Truckdriver in What % of XRP Will You Cash Out at $50?   
    Ride or die!!!
  18. Like
    BLPinfinity got a reaction from TheHyena in What % of XRP Will You Cash Out at $50?   
    Ride or die!!!
  19. Like
    BLPinfinity got a reaction from RegalChicken in What % of XRP Will You Cash Out at $50?   
    Ride or die!!!
  20. Thanks
    BLPinfinity reacted to SaladFingers in The Current State of Cryptocurrency Banking in New Zealand   
    Interesting article here on bitprime's website.
    https://www.bitprime.co.nz/blog/cryptocurrency-banking-new-zealand/
  21. Like
    BLPinfinity reacted to LilBender in Western Union's Ripple Labs Tests Ongoing   
    An NBFI of the size of  WU will not be looking at DA based instant liquidity as a last mile solution
    It will be beneficial for them to eliminate their internal NOSTRO accounts, at least partially; not for sending every low value remittance via xRapid
    For this purpose, I believe a solution like xVia is more suited for their purpose (Something that was not available in a finished form during the original WU tests)
    The regional hub can pool the incoming funds, batch process an xVia payment at regular intervals (Say, weekly) and the country subsidiaries will receive a fresh batchof local fiat with which they replenish their pool. Vice versa for outgoing transfers
    That's a grossly simplified example, but in a nutshell, batched internal payments make more sense to them than a customer facing, low value, high frequency one
  22. Haha
    BLPinfinity reacted to ImTheRippler in Bearableguy123 Thread   
    Yes let’s not unite and focus on how much of a whiny ***** you are 😂 
  23. Haha
    BLPinfinity reacted to CountZerpula in Bearableguy123 Thread   
    Schilling coins: So hot right now

     
  24. Like
    BLPinfinity reacted to Chewiecoin in Bearableguy123 Thread   
    Hey @XRP-JAG
    I am part of many chat rooms/clubs including the Zerpening, some clubs in XRPChat, CSCChat and clubs in there and a few discord channels. In fact too many to really do them all justice. I like learning as much about my investments as I can. I don’t see anything wrong with that. Some of these rooms are public and some are private. I don’t class myself as elitist and I definitely don’t think I am better than anyone else.
    And yes I get told things that I have been asked to keep confidential. I respect that and I always will. 
    I don’t think it’s right you making these accusations. 
  25. Like
    BLPinfinity reacted to Yodaxrp in Bearableguy123 Thread   
    Glad to hear that not all the world has become 1984 like here and there's still place for free thinkers!
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