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goblockchain

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  1. Like
    goblockchain reacted to BLPinfinity in Brad Garlinghouse in Bangkok   
    I love his diplomatic answer about the xrp investor on the street asking about price.

    I'll paraphrase.

    Investor/speculatr: when moon?

    Brad: Just HODL all will be fine in time.
  2. Like
    goblockchain reacted to zzZERP in This is how market manipulation works (suppressing the price of XRP)   
    How to successfully manipulate the crypto market:
    1. Start of being very rich
    2. Buy tons of Bitcoin in 2011
    3. Make sure that you and your buddies control most of the exchanges, news outlets, forums. This way you can make sure that every single exchange uses Bitcoin as the base trading pair for all other digital assets.
    Remember you have lots of bitcoin and by making the entire market dependant on it, you and your buddies have the power to move the entire market at will, especially during times of low (real) volume. Want the market to go down? Set up big sell walls of bitcoin. Want the market to go up? Remove the big sell walls of bitcoin.
    4. Now you're all set to setup an advanced botnet that distributes money going in and out of the crypto market evenly, using a ratio you have set to your own preference. Bitcoin  (or bitcoin cash) should always be number 1 because you own a lot of bitcoin (and bitcoin cash), along with holdings in many other cryptos.
    Bitcoin at $8700? Then Eth at $870, XRP at 0.87 etc. Now let's say someone goes in and buys $10 million worth of XRP? This is very bad, we don't want to upset the ratio. So what the botnet does is it sells an appropriate amount of XRP and then uses it to buy eth, ltc and hold some in bitcoin etc. This way Bitcoin hegemony is protected. You can also make sure to DDOS exchanges, spend money on "grassroots" shilling campaigns like these: https://thebitcoincash.fund/   and just generally pay your news outlets to be very biased in your favor. Heck, why not bribe govt officials in third world nations, maybe they can spread some fud for you?
    This has the effect of obfuscating how the market is really doing, because if bitcoin is doing poorly then the entire market is doing poorly irrespective of whatever progress another project is doing. 
    5. Now pat yourself on the back for being such an amazing anarcho capitalist libertarian whose trying to save the world from the evil banks.
     
    --------------------------------------------------------------------------------------------------------------------------------
    None of this is ever going to change until XRP (and other good digital assets) are paired with fiat with sufficient volume to offset these corrupt tactics. 
    In my opinion this should be the priority of Ripple and any community effort made should be towards this goal. I know about SBI VC but why not fund similar ventures in the west? Maybe fund something similar or better than what Stellar is (supposedly) doing with Fairx.
    We as a community could try lobbying for exchanges to add XRP as a major trading pair.
    I know a lot feel like the adoption of XRP by banks will decide its future, and it will in the long run. But right now in the shorter term, decoupling from bitcoin could even be the make or break signal for Ripple and XRP.
    If Bitcoin dies and XRP sinks with it, what trust will that garner from large financial institutions and banks? How is XRP ever going to be the standard for international cross border settlements without sufficient liquidity?
    I understand that when a company has experienced the tremendous success that Ripple has in the past year, it may be tempting to play it safe and continue to take a back seat, but the success has in part come from speculation and not pushing all the way to a commanding position could be a crucial mistake.
    It would be awesome if @Hodor and perhaps even @JoelKatz could chime in with a little something on this.
  3. Like
    goblockchain got a reaction from SolveIt in Does anyone know how the Korean/Japanese tests went?   
    Here we go,
    Woori Bank has decided to extend the overseas remittance test using the block chain technology of Ripple, an American start-up company, to the 14th of this month. One Bank of Japan has asked us to proceed with further testing.
     
    ▲ Head office of Woori Bank in Hoehyeon-dong, Jung-gu, Seoul. / Shipbuilding DB
    A Woori Bank official said, "We were planning to complete the overseas remittance test using ripple technology on the 31st of last month through two tests. One bank in Japan offered to further test the remittance abroad, I will extend the project to the next, "he said. 

    The overseas remittance technology that Woori Bank is testing is applying Ripple's block-chain-based technology, and the virtual currency 'ripple' is not used for overseas remittances. 

    Overseas remittances using Ripple's block chain technology are more cost and time efficient than existing international remittances using the SWIFT network. Woori Bank has been working with SBI Ripple Asia of Japan SBI Holdings since December last year to test Ripple's block chain technology. 

    Woori Bank plans to conduct overseas remittance tests with the Bank of Japan this month. If Woori Bank transfers money in Korean Won using block-chain technology, it will check if the Japanese bank has the money in the Japanese yen and the Bank of Japan sends the yen in block-chain technology to the Woori Bank. 

    In the test, it will be confirmed that overseas remittances will be smoothly carried out under various conditions that were not checked in the previous two tests. In addition, it plans to discuss with the Bank of Japan on whether it will commercialize overseas remittance using ripple block chain technology.

    "The last two test results were not bad, but we tested the results under limited conditions, so we will check whether the overseas remittances are well under a variety of circumstances," said Woori Bank official. We will also discuss whether we can do business, "he said.

    원문보기: 
    http://biz.chosun.com/site/data/html_dir/2018/02/01/2018020101187.html#csidx050f040eee30692a47621c9a5f0e576
  4. Like
    goblockchain got a reaction from OnlyObviousAnswers in Does anyone know how the Korean/Japanese tests went?   
    I only accept XRP  
    Best, 
  5. Like
    goblockchain reacted to XRP_Godzilla in Ripple --- Adyent +Uber/ebay   
    And this:
    https://www.finder.com.au/what-affects-the-price-of-ripple
     
  6. Like
    goblockchain got a reaction from CryptoJym in Does anyone know how the Korean/Japanese tests went?   
    Here we go,
    Woori Bank has decided to extend the overseas remittance test using the block chain technology of Ripple, an American start-up company, to the 14th of this month. One Bank of Japan has asked us to proceed with further testing.
     
    ▲ Head office of Woori Bank in Hoehyeon-dong, Jung-gu, Seoul. / Shipbuilding DB
    A Woori Bank official said, "We were planning to complete the overseas remittance test using ripple technology on the 31st of last month through two tests. One bank in Japan offered to further test the remittance abroad, I will extend the project to the next, "he said. 

    The overseas remittance technology that Woori Bank is testing is applying Ripple's block-chain-based technology, and the virtual currency 'ripple' is not used for overseas remittances. 

    Overseas remittances using Ripple's block chain technology are more cost and time efficient than existing international remittances using the SWIFT network. Woori Bank has been working with SBI Ripple Asia of Japan SBI Holdings since December last year to test Ripple's block chain technology. 

    Woori Bank plans to conduct overseas remittance tests with the Bank of Japan this month. If Woori Bank transfers money in Korean Won using block-chain technology, it will check if the Japanese bank has the money in the Japanese yen and the Bank of Japan sends the yen in block-chain technology to the Woori Bank. 

    In the test, it will be confirmed that overseas remittances will be smoothly carried out under various conditions that were not checked in the previous two tests. In addition, it plans to discuss with the Bank of Japan on whether it will commercialize overseas remittance using ripple block chain technology.

    "The last two test results were not bad, but we tested the results under limited conditions, so we will check whether the overseas remittances are well under a variety of circumstances," said Woori Bank official. We will also discuss whether we can do business, "he said.

    원문보기: 
    http://biz.chosun.com/site/data/html_dir/2018/02/01/2018020101187.html#csidx050f040eee30692a47621c9a5f0e576
  7. Like
    goblockchain reacted to Internethobo in Is this normal? (Xrpl monitor.)   
    I would say more Robinhood than Coinbase.
  8. Like
    goblockchain reacted to itcdominic in Is this normal? (Xrpl monitor.)   
    Maybe Coinbase. 
  9. Like
    goblockchain reacted to zenkert in Have Coinbase let the cat out the bag?   
    @MrClamtastic
    In an hour
    The Inn will be closed
    and so are you
    tomorrow
    If not tonight brings you flowers
    To open your heart
     
  10. Like
    goblockchain got a reaction from SolveIt in Does anyone know how the Korean/Japanese tests went?   
    I have been looking for the news as well. Will post it as soon as it's available.
  11. Like
    goblockchain reacted to prez_zerp in Uk-based Revolut begins trading crytocurrencies   
    I like how their front page has a Ripple logo controlling the rest.  

  12. Thanks
    goblockchain reacted to XRPisVELOCITY in Will financial institutions using XRP have their transfers publicly available?   
    Here you go... By @Hodor
    https://xrphodor.wordpress.com/2017/06/19/xrp-ripple-and-the-difference-between-privacy-and-anonymity/
  13. Haha
    goblockchain reacted to ripplex in Coinbase Maintenace Jan 31st--can this mean ZERPIE??   
    Q: Coinbase, are you adding new crypto?
    A: Yes, but please keep it down we want it to be a surprise
    Q: XRP,  of course, right?
    A: No, we're adding support for Tether.
  14. Thanks
    goblockchain reacted to wingfr in Any update from Credit Agricole?   
    The slides :
     



  15. Thanks
    goblockchain reacted to Atomic1221 in Any update from Credit Agricole?   
    There was a tweet showing a slide on a projector from today’s presentation somewhere. 
    The first bullet point described Swiss Francs and another currency being settled, real-time, in a cross border transaction  using Ripple. 
    Then another bullet point describing xCurrent. Has anyone seen this? I saw it on my work laptop on Reddit, I think I’m the daily price discussion thread.  I can check my browsing history tomorrow again if needed.
  16. Like
    goblockchain reacted to automatic in Why Tether won't matter in the long run   
    Here's a suggestion:
    Someone who is good at community organizing should start a petition for exchanges to delist Tether.  If a free market is supposed to be self-regulating, then let's self-regulate the free market.  Systemic organized shutdown will be far better than any scandal-fueled crash.  Gradual de-listing will still impact the market, but it will be our best chance for getting everyone out of this as cleanly as possible.
  17. Like
    goblockchain reacted to automatic in Why Tether won't matter in the long run   
    I'll try to explain why Tether is a clusterfk:
    On the surface it may seem that Tether is in essence just another crypto, albeit one that is pegged to 1 USD.   There is nothing particularly problematic with this arrangement, and having a cryptocurrency pegged to 1 USD is actually useful in a fluid and dynamic market as it allows market participants to jump in/out of the market without undergoing slow fiat conversion at every step. 
    However, in order for this to work, it must be accepted and guaranteed that 1 USDT can in fact be exchanged for $1.   For this guarantee to hold true, one of the following two things must likewise be true:
    Each USDT must be backed by one actual US dollar.  1-to-1 relationship is therefore always guaranteed, meaning that any profits or positions stored in USDT are as good as being stored in actual dollars, because that ARE backed by actual dollars. USDT market must be extremely liquid.  In this scenario, 1 USDT is backed up by exactly nothing, however the liquidity of USD->USDT market is such that at any given point and in all market conditions 1 USDT can be exchanged for exactly 1 USD, and vice versa.  This effectively has the same effect as #1 point above, except that rather than 1 USDT being backed by 1 actual USD, it allows 1 USDT to be backed by 1 USD on demand by sourcing that $1 from a pool of market liquidity. Having said that, here is what is actually going on:
    Market for Fiat<->USDT is virtually non-existent.   Option #2 above is therefore not going to hold as Tether cannot effectively be exchanged for US dollars. Most exchanges allow for trading in USDT-based pairs.  Since other CCs can be purchased using Tether, this effectively makes Tether a legitimate cryptocurrency tender (as legitimate as any other CC in the market that is backed by exactly nothing).  Tether can therefore be used to enter the market, but not exit the market.  Any actual money that enters the market via USDT must be sunk into other CCs that are exchangeable into Fiat before that money can exit the market. Any USDT profits realized by virtue of trading require that additional USDT be printed.   1-to-1 pegging could not be maintained without adequate Tether supply, meaning that as market grows so does the volume of USDTs in circulation.  For Tether to be effective, it does therefore need to be printable out of thin air.  However, as soon as the Tether becomes printable, the 1-to-1 physical backing that may have existed now goes out of the window.  For example, a deposit of $1000 may have produced an initial credit 1000 USDT, but now that 1000USDT was invested in Ether that subsequently went up 50%, and closing that position produced a total of 15000USDT.   There is still only $1000 USD in the piggy bank, but there are now 15000 USDT in existence.  In order for pegging to work, the circulation therefore must be variable and the currency unbacked. Bitfinex states that each USDT is backed by $1, however no audit has been completed thus far to confirm that statement, and Bitfinex is putting up a smokescreen.  Based on all points above, it should be clear to all that there is no way in hell that Bitfinex has enough cash on hand to cover all USDT in existence.  However, this is also not necessarily a problem;  as long as all market participants understand that 1USDT is nothing more than a transient note used solely for trading, then all should be well. Ok, so if none of that presents a problem, than what does?  The fact that Tethers can be used to enter the market, and that no guarantees or audits have been performed to confirm that Tethers are printed either in response to actual USD deposits, or as a result of increased market demand for USDT which required circulation to be increased in order to maintain 1-to-1 valuation.  Absent such guarantees, Tether is essentially a backdoor into the entire market.  While all CCs are to an extent created out of thin air, price for each is set based on market forces of supply and demand.  This is where Tether sets itself apart; its circulation is variable, but its price is not;  increasing the number of tethers in circulation thus literally creates purchasing power out of thin air.   This "purchase power creation" is the root of the entire tether debate.
    Here is how the tether problem could be solved:
    Eliminate use of USDT altogether.  Since USDT much be washed into other CCs, I would imagine that pulling the trigger on USDT would not be particularly disruptive to the market. Create a liquid USDT-USD market Pre-mine a some large number of USDT coins (few trillion), place them in custody, and establish stringent and auditable controls on their distribution.  Barring any of the three options above, absence of controls and/or audits means that no checks and balances exists on the mechanisms by which Tether enters the market.  Since the entire situation is a complete cluster, it would be very easy for a company such as Bitfinex to inject Tethers into the pool that are neither backed nor produced by increasing market demands on volume, meaning that it would be completely fake money entering the market.  This fake money could then be used to purchase other CC assets and drive up their prices.  The entire process would be equivalent to a pump-and-theft.
    Of course, there is no good way to confirm this aside from performing an audit, so here we are.  Just because Bitfinex "could" do these things, doesn't mean that they are.... but noone knows for sure. 
    Given the present state of the market, the simplest way out seems to be to start working on abandoning tether all together.  The idea may have been a good one, but as it turns out controlling money supply might be better left to central banks to handle.
     
     
     
  18. Thanks
    goblockchain reacted to retryW in Bitoasis about to go live...   
    CMC doesn't list Coinbase, yet is a huge player. It's pretty much the Coinbase of Dubai.
  19. Like
    goblockchain reacted to XRPgoat in Bitoasis about to go live...   
    Robinhood looks really cool....XRP is already in Robinhoods search box. You can see XRP charts and price.
  20. Thanks
    goblockchain reacted to charmaser in IOTA part of ongoing blockchain business camp (funny FUD!)   
    https://ripple.com/build/transaction-cost/
     
  21. Thanks
    goblockchain got a reaction from Atomic1221 in Japan's brokerages joining to adopt blockchain   
    As stated, the consortium is for (1) adoption of blockchain (2) other innovative technologies. IMHO, security is one of the key element/requirement in Japan so they throw in it in the agenda to achieve the goal of boosting efficiency and providing more convenient services. Perhaps to kill two birds with one stone. I'd think a key takeaway is "SBI and SBI Ripple will be the lead organizer". 
  22. Thanks
    goblockchain got a reaction from Winteriscomming in Wemakeprice will accept BCH, ETH, XRP, and 9 others   
    http://news.mk.co.kr/newsRead.php?year=2018&no=64099 Please use google translation. 
    Wemakeprice (one of the biggest social commerce in Korea) and Bithumb are in discussion of accepting BCH, ETH, XRP, and 9 others cryptocurrencies 
  23. Like
    goblockchain reacted to Cryptsycrackers in BitOasis Trading volume v XRP adoption   
    It only takes one disgustingly rich person to get into crypto though.  Wouldn't be surprised if one of them bought a billion coins just for the hell of it.
  24. Thanks
    goblockchain got a reaction from Benchmark in Wemakeprice will accept BCH, ETH, XRP, and 9 others   
    Virtual currency will be available at Wimep, a social commerce service. 

    It is the first time for major domestic shopping malls to introduce virtual currency. 

    According to the information technology (IT) industry and the financial sector, WimFeek and Virtual Money Exchange Bitsum are discussing a system development plan that uses virtual currency in conjunction with Wimepey, a simple settlement service of WIMef. 

    The two companies reportedly plan to complete the billing system and make actual services as soon as government policies and regulations on virtual money are confirmed.The partnership is aimed at enabling 12 kinds of virtual currencies, such as Bitcoin, Etherium, and Ripple, to be used as payment means through WonderPay. 

    This payment system is expected to be more efficient because it connects directly BITSUM and WIMEP without going through the network of banks or credit card companies. 

    At present, virtual money has a wide range of real-time price fluctuations, making it difficult to use it as a payment method. For this reason, the two companies are strongly considering the "real-time quotes" function to minimize this uncertainty. 

    When the Bitsum customer decides to make a purchase with the virtual money, the amount is determined based on the price at that time, and the data is received immediately by Wemet WonderPay and the settlement is carried out to eliminate the confusion caused by the fluctuation of the price. 

    The two companies have been told that they will not be able to buy vouchers for Wimp by virtual currency to eliminate illegal concerns. 

    As for the plan, Wimpef officials said, "It is right to review the partnership with Bitsum as one of the ways that customers can purchase Wimpef products more conveniently through WonderPay. He said. 
  25. Like
    goblockchain reacted to OzAlphaWolf in What would be a game changer?   
    IMO, SBI going live. That will kick off buying in Japan and Korea. So many people are focused on something happening in the US, but I honestly believe Asia is key for the first major institutional springboard effect. Otherwise something like Western Union coming online. That would excite US and western buyers in general.
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