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Everything posted by mandelbaum

  1. JPMorgan launches an Ethereum based stablecoin, and people target XRP as the bankster "coin". Brilliant.
  2. mandelbaum

    Has Corey Johnson left Ripple?

    Who knows, maybe Cory will pop up somewhere else in the XRP-ecosystem. The war chest is humongous, and the initiatives like xPring, and maybe some we do not know of, could be quite attractive for someone who has stated that he loves to work with startups rather than established brands. Other Ripple employees have left to make their own projects on the ledger.
  3. mandelbaum

    There Is No Such Thing As "Dormant Funds" In Banking

    Central banks are in charge of how much of a given currency is in existence. They need to issue those "serial numbers" to the banks keeping the nostro/vostro accounts. Exchange rates/inflation/deflation comes from the fact that the central bank is in control of how much of the currency is in existence at any given nanosecond. This is what the wheelbarrows in the Weimar republic was all about, "keep printing, the money will catch the debt sooner or later, right?" The serial number have to EXIST the moment the exchange is being carried out, then the SETTLEMENT comes in, if that takes 3-5 days, money is in LIMBO and dormant. This is expensive for the often smaller banks holding the risk, but extremely lucrative for the big banks with many offices around the world keeping the destination accounts. Every day money simply disappear while being transferred, she can not claim that these serial numbers never existed in the first place, that would be counterfeiting. https://economictimes.indiatimes.com/industry/banking/finance/banking/after-a-2million-swift-hiccup-rbi-demands-focus-on-nostro-accounts/articleshow/63007468.cms SWIFT themselves say private banks do no want to disclose how much they keep in these accounts.
  4. mandelbaum

    AMERICAN BANKER: Is this Swift's answer to Ripple?

    Pennsylvania is about to make crypto exempt from the Wire transfer license. How this will affect the banks and conservative remittance companies like Western Union is a bit early to say. But, in a digital economy the ramifications could be massive. Santander could suddenly be a disrupter in the US by having offices in states where crypto is exempt from a license like that. Imagine what the multi-hop funtion of Ripplenet would do to regulations made for value transferred by the Pony express in 1860s.
  5. mandelbaum

    Bad Crypto Podcast Oz Sultan

    Listened to the latest Bad Crypto Podcast with Oz Sultan, who is a fairly knowledgable and excentric guy in the tech field. He worked for the Trump campaign and has also done a lot of consulting for the US government in cyber security related issues. The entire podcast is quite interesting if you are concerned about the recent hacks and the SIM-swapping scandals that have hit certain major providers. The new "crypto phone" revolution is also higlighted. https://everipedia.org/wiki/lang_en/oz-sultan/ During the interview he aired some ideas on what he thought the future would be: From about 43 minutes in he talks about 18 months being the time until mass adoption, he mentions especially Sandtander with their app and the other banks using "Ripple" after Pennsylvania institutes a law that makes crypto exempt from the Wire transfer license, this could open the hatches. Very bullish. https://badcryptopodcast.com/2019/02/06/oz-sultan-236/
  6. Ripple are targeting international remittance first. Remittance means people working in a foreign country sending money home to their families. Doing this in 3 seconds with much lower fees could spark other use cases and room to make the economy grow in the destination countries. Most third world countries are skipping magnetic strip, EMV and RFID cards, they go straight to smartphones with Mpesa, SMS or QR-codes to transfer value. The XRP-ledger is currently the only real DLT project to develop this on, the others either lack liquidity or speed, an 8 year head start.
  7. Payoneer is an Earthport partner/client. This could get interesting.
  8. R3 tried to partner with the Utility Settlement Coin project last summer. https://www.coindesk.com/r3-rejected-utility-settlement-coin-blockchain They were not allowed to, SBI steps in with money. https://www.coindesk.com/banking-giant-sbi-subsidiary-joins-r3-blockchain-consortium Suddenly R3 and Ripple settle their disputes, and Corda Settler launches with the XRP settlement oracle exclusively in December. https://www.coindesk.com/r3-ripple-settle-legal-dispute-over-xrp-purchase-option Two executives leave R3 because of reorganization, announced january 27 . A new design team is created. https://cointelegraph.com/news/report-two-r3-executives-are-leaving-their-positions-amid-broad-company-reorganization Then, two days later: https://www.coindesk.com/sbi-r3-form-joint-venture-to-license-corda-blockchain-in-japan
  9. The shorter are probably not done cashing in. Comparing BTC and XRP: https://www.tradingview.com/symbols/BTCUSDSHORTS/ https://www.tradingview.com/symbols/XRPUSDSHORTS/
  10. mandelbaum

    Ripple’s Lie About Its Santander Partnership

    Crypto Eri made a Youtube video going through the blogs claims. It is hard to get a grasp of what the blog is trying to convey, an anonymous writer calling him/herself a troll making trollish claims. The research is - to put it mildly; very weak.
  11. SBI released its third quarter financial results today. R3 Corda settler and XRP are presented as a priority over the next months http://www.sbigroup.co.jp/english/investors/disclosure/presentation/
  12. Looks like CNBC missed out on making the R3-XRP connection.
  13. SWIFT GPI still uses Nostro/Vostro relationships. (Nostro/vostro simply means ours and yours, think of La cosa nostra; This thing of ours) Every bank on the network will have to report their balances of local currency and fees realtime to GPI (through som sort of DLT/Oracle) for this to work with fiat through the settler. Simply using the XRP-ledger saves SO much work.
  14. mandelbaum

    One Person Can Make A Difference

    Man, I can actually feel the XRP-part of my limited brain capacity expand for every blogpost you publish Hodor. No other crypto community have people of your capacity in the drivers seat. Hope everyone reading gets an invite for a Coil-account and uses it to support Hodors work. https://coil.com/signup
  15. Corda is a enterprise network for messaging. The Corda settler is a dapp that can be used to settle payments if both parties of the exchange agree to use the xrp-ledger (called an oracle on the network). If it is interoperable, it should be able to send messages between Corda and GPI, and use the settler.
  16. Unchartered territory. We have no idea what these form of assets will be used for over the next decades. Chris Larsen has stated that XRP will be the liquidity provider of the internet of value. And he is currently connected through advisor roles and board member roles to some of the most influential banks and organizations on the planet. Imagine if Cisco back in the 90s sold a limited amount of packets to investors, and that these were to be used over and over again to transfer information over TCP/IP. That is what a lot of us are betting on XRP being for the internet of value.
  17. We have to remember this from last september: https://www.coindesk.com/r3-rejected-utility-settlement-coin-blockchain Was this to get rid of competition, or to set themselves up as the competition because of the legal battle over XRP buys? Inn for quite the battle over the next years. The players need to position themselves.
  18. Gottfried is payed by the banks of the consortium to defend the Nostro/Vostro relationships because the big banks are in charge of those accounts around the world. They make a boatloads in fees from those relationships. Regulations are needed, but these banks do have hard hitting lobbyists in every government around the world. SBI seems to be at the forefront of the disruption currently, and the R3 POC announcement looks like a way for SBI to poke the bear in order for it to come out of the cave and into the open.
  19. Swift is announcing interoperability POC with R3 later today (around 8 minutes in). That is quite the revelation.
  20. mandelbaum

    Earthport, VIsa, MC and Ripple

    Earthport announced Kotak Mahindra and Axis bank as customers in 2017. They lost big undisclosed customers in early 2018 and began looking for investors. Summer 2018, Mahindra and Axis announce they are Ripplenet partners. Mahindra and Axis are suddenly no longer on the list of partners of Earthport. https://www.earthport.com/news-insights/earthport-partners-with-kotak-mahindra-bank/ https://ripple.com/insights/ripple-improves-access-india-kotak-mahindra-bank/
  21. mandelbaum

    The international value of horse poo

    Bat guano, that´s where the money is.
  22. If they want to apply those rules to XRP, they have to use the same rules to evaluate every other projects also. This is just shockingly dumb.
  23. mandelbaum

    Private ledger debate

    The video made by R3 to explain Corda settler interfacing with the XRP ledger explains a lot of how institutions are going to make use of XRP. https://www.r3.com/news/r3-launches-universal-corda-settler-application/ Remember that xCurrent is basically a messenger service, it is developed to be agnostic to the settlement method. Corda Settler code Review: https://www.youtube.com/watch?v=a8xjL85p770 Eplanation of the term Oracle as it relates to R3s Corda enterprise network: https://www.r3.com/blog/what-is-an-oracle/
  24. The second oldest profession; mercenary. Whoever pays you the most, you provide your services to. Today we call them consultants.
  25. On the topic of Coins.ph. There are a lot of very small transactions going from a wallet activated through Binance to Coins.ph. Could these be some kind of stability/latency test on the ledger? https://bithomp.com/explorer/rUtCyL45mkqkSqvnoGMHJsqopmrAr1azDa https://bithomp.com/explorer/rU2mEJSLqBRkYLVTv55rFTgQajkLTnT6mA They seem to be constantly sending the equivalent of 0.0005 USD.