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zerpian

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  1. Like
    zerpian got a reaction from hallwaymonitor in Is this a transaction on the XRPL between FI's?   
    I didn't say it's caused by xRapid, just that I was looking for something relating to xRapid and found that transaction. Nevertheless pretty amazing to see 22M USD exchanged by FI's on the ledger for only 12 drops. If that's what it means of course..
  2. Like
    zerpian got a reaction from BrownBear in Is this a transaction on the XRPL between FI's?   
    I didn't say it's caused by xRapid, just that I was looking for something relating to xRapid and found that transaction. Nevertheless pretty amazing to see 22M USD exchanged by FI's on the ledger for only 12 drops. If that's what it means of course..
  3. Like
    zerpian got a reaction from Kpuff in Is this a transaction on the XRPL between FI's?   
    I didn't say it's caused by xRapid, just that I was looking for something relating to xRapid and found that transaction. Nevertheless pretty amazing to see 22M USD exchanged by FI's on the ledger for only 12 drops. If that's what it means of course..
  4. Thanks
    zerpian got a reaction from P3T3RIS in Is this a transaction on the XRPL between FI's?   
    After the exciting news today, I was looking around on the ledger for tx's that might relate to xRapid.
    I couldn't find anything but have might found something else...
    According to jbjnr's post r3epSojEkn6pFRwjxkFjwJLPAxC8Hj9ZTK is one of the xrp sales wallets. On 31 Jan 1,2M USD.Bitstamp was sent out to rpQhAu8n7WwwNPFeqXPDVZyNx8ShAQrYZU
    There are several tx's for that wallet but this is one mentions Travel Rule,  containing most probably hashed info about:
     https://developers.ripple.com/become-an-xrp-ledger-gateway.html#travel-rule
     
     
     
     
     
  5. Like
    zerpian reacted to hallwaymonitor in Is this a transaction on the XRPL between FI's?   
    I did not know there is such thing as travelrule. However, this is probably not caused by xRapid because the oldest payment transaction with the travelrule I could find is from 2017-07-05:
    https://bithomp.com/explorer/16351C807750AE84D1A616E1AA411D86899491639C217B8903DEF4CC61E013FF
  6. Like
    zerpian got a reaction from XRPfan_Eelco in Is this a transaction on the XRPL between FI's?   
    After the exciting news today, I was looking around on the ledger for tx's that might relate to xRapid.
    I couldn't find anything but have might found something else...
    According to jbjnr's post r3epSojEkn6pFRwjxkFjwJLPAxC8Hj9ZTK is one of the xrp sales wallets. On 31 Jan 1,2M USD.Bitstamp was sent out to rpQhAu8n7WwwNPFeqXPDVZyNx8ShAQrYZU
    There are several tx's for that wallet but this is one mentions Travel Rule,  containing most probably hashed info about:
     https://developers.ripple.com/become-an-xrp-ledger-gateway.html#travel-rule
     
     
     
     
     
  7. Like
    zerpian got a reaction from hallwaymonitor in Is this a transaction on the XRPL between FI's?   
    After the exciting news today, I was looking around on the ledger for tx's that might relate to xRapid.
    I couldn't find anything but have might found something else...
    According to jbjnr's post r3epSojEkn6pFRwjxkFjwJLPAxC8Hj9ZTK is one of the xrp sales wallets. On 31 Jan 1,2M USD.Bitstamp was sent out to rpQhAu8n7WwwNPFeqXPDVZyNx8ShAQrYZU
    There are several tx's for that wallet but this is one mentions Travel Rule,  containing most probably hashed info about:
     https://developers.ripple.com/become-an-xrp-ledger-gateway.html#travel-rule
     
     
     
     
     
  8. Like
    zerpian reacted to BrownBear in Balance sheet operations of a cross-border settlement process with the use of XRP   
    xCurrent and by nature xRapid are bi-directional messaging systems. The transaction process only take places once the negotiations have been agreed to. Everyone knows the steps to be taken in the transaction before it happens. There are no assumptions and there are no 'Bank at Ger does not know about it yet' type of scenario.

    I blame people for still propagating the outdated corresponding push style banking system when explaining how xRapid works . It has done so much damage in explaining just what xRapid is that people still think the transaction is taken in steps BEFORE negotiation instead of after negotiation. EG: I send $10m USD worth of XRP to Brazil only to find out there is not enough liquidity and I am forced to pay huge slippage in order to fill the transaction in Brazil when in reality, the transaction would never be initiated because the negotiations wouldn't have been able to be completed within the acceptable and predetermined slippage threshold.

    I'll say again. xCurrent and thus xRapid are bi-directional messaging systems. This is why they are so efficient, cheap and fast.
  9. Like
    zerpian reacted to lucky in The impossibility of liquidity in xrp   
    Trees and forest. It is striking that you ask me a definition of a credit accounting system. Maybe it helps to scale back the world to a small village. FYI I am a software developer and I look at the whole financial circus as a very imperfect machine, with lots of bandaids to deal with its imperfections, addons to abuse these imperfections, more addons to deal with the abuse, and more addons to abuse the addons. Yet at the end of the day, the purpose of the machine is to do is keep account of credit and debt, so that we can earn and spend asynchronously, and don't have to carry sheep with us to do business. For the first time in history we now have a credit accounting system that works without a central authority, where no single entity can change the rules in his own favor, that works globally, works realtime, over the Internet, and you spend long hours explaining why this system does not work, by pointing at broken parts in our current incredibly imperfect foggy system that is being held together by miles of duct tape, with lots of smoke and mirrors to obfuscate how broken it actually is.
    The old machine will be replaced by a new one, one that does exactly what a credit accounting system is supposed to do. Keep balances of credit and debt, with transparent rules, that does not favor a single participant or allows a single participant to change the rules. I am convinced this is unstoppable.
  10. Like
    zerpian got a reaction from Ripple-Stiltskin in The impossibility of liquidity in xrp   
    @Wandering_Dog, I have some genuine questions:
    -don’t you think you are addressing a ‘luxury’ problem? I mean xrp settling trillions USD in value, which I don’t see happening in the near future. I’m sure you read reports on financial stability by CB’s. Crypto is not even considered in the reports, or when mentioned, it’s labelled as too small to cause any harm.
    -don’t you think you’re too attached to our actual knowledge about our monetary system, the role of the CB,..? What if in the future, whenever I want to settle, I get several options through ILP recommending me the path of the least resistance. Exactly, the same way today, as I want to send e.g. a pic I get several options. An hybrid system may very well be possible.
    -don’t you think you’re pulling ‘xrpthebase’ out of its context and using it in your argumentation to prove your point. This is only used now and in regards to the few exchanges..
  11. Like
    zerpian got a reaction from tar in The impossibility of liquidity in xrp   
    @Ripple-Stiltskin, The group of middle class is increasing because of countries like China; fast developing countries and huge population. However, one is categorized in the low middle class, in China, when (s)he has an income of 2-10 USD/day. This group represents 59% of the population. This group is still vulnerable because in an economic recession, they can e.g. lose their job and fall into the category poor.
    Let’s not forget that enormous amount of money has been poured into the economy in the last decade or so. Sure their income increased but not enough relative to the wealth created, hence the increase in wealth discrepancy at the same time. Should the wealth be more evenly distributed, the chances would be higher to survive the next recession.
    Yes I added the question by editing (it was an economic one), Thanks for your answer!
  12. Like
    zerpian got a reaction from WrathofKahneman in The impossibility of liquidity in xrp   
    @Ripple-Stiltskin, The group of middle class is increasing because of countries like China; fast developing countries and huge population. However, one is categorized in the low middle class, in China, when (s)he has an income of 2-10 USD/day. This group represents 59% of the population. This group is still vulnerable because in an economic recession, they can e.g. lose their job and fall into the category poor.
    Let’s not forget that enormous amount of money has been poured into the economy in the last decade or so. Sure their income increased but not enough relative to the wealth created, hence the increase in wealth discrepancy at the same time. Should the wealth be more evenly distributed, the chances would be higher to survive the next recession.
    Yes I added the question by editing (it was an economic one), Thanks for your answer!
  13. Haha
    zerpian got a reaction from Ripple-Stiltskin in The impossibility of liquidity in xrp   
    that was the first thing I said: it's controversial but you insisted...
  14. Like
    zerpian reacted to Ripple-Stiltskin in The impossibility of liquidity in xrp   
    Ofcourse with an income of € 1000 a month one is poor in the Netherlands, but rich in Rwanda. So that doesn’t count. According to the definition 59% of China’s population is NOT vulnerable . In a recession they will fall from middle-class to vulnerable. 
    It’s all semantics and definitions here ( the source of many heated discussions all over the board) , so to keep it pure, we should  first agree on the definitions and fact-sheets. ( I know: not do-able here).
    I stand by my statement that the income distribution worldwide is becoming more centered ( Gauss Curve) and that per capita the world is better off every day. 
    The poor are getting poorer sounds nice on a protest banner, but on a worldwide scale it isn’t true. 
  15. Like
    zerpian got a reaction from Ripple-Stiltskin in The impossibility of liquidity in xrp   
    @Ripple-Stiltskin, The group of middle class is increasing because of countries like China; fast developing countries and huge population. However, one is categorized in the low middle class, in China, when (s)he has an income of 2-10 USD/day. This group represents 59% of the population. This group is still vulnerable because in an economic recession, they can e.g. lose their job and fall into the category poor.
    Let’s not forget that enormous amount of money has been poured into the economy in the last decade or so. Sure their income increased but not enough relative to the wealth created, hence the increase in wealth discrepancy at the same time. Should the wealth be more evenly distributed, the chances would be higher to survive the next recession.
    Yes I added the question by editing (it was an economic one), Thanks for your answer!
  16. Like
    zerpian reacted to lucky in The impossibility of liquidity in xrp   
    Money (and crypto) is nothing more than a credit accounting system.
    Your statement that all systems of human organisation involve credit is inconsistent with your statement that they are all unstable. Economies flourish and diminish. That has nothing to do with the accounting system they use, but with the value they produce. Attributing WW2 to any particular credit accounting system is preposterous simplification of incredible complex processes happening in the beginning of the 20th century, and the way  WW1 was (not really) ended.
  17. Like
    zerpian got a reaction from jcdenton in The impossibility of liquidity in xrp   
    You’re right. It didn’t arise overnight but after the crisis, all factors came together. The technology was there, the environment was mature and most importantly there was a group willing to contribute because they disagreed on the monetary system.
  18. Like
    zerpian got a reaction from Ripple-Stiltskin in The impossibility of liquidity in xrp   
    Firstly, I disagree on the fact that XRP isn’t money. The common ground with fiat money is that cryptocurrencies have liquidity, the main characteristic of money, even available 24/7. It’s liquidity that shows mainly the intensity of demand and on the other hand the availability of the supply. Nonetheless, one can argue that’s not generally accepted. It’s still too early for large cap companies, banks etc. to put trust into the system because of say regulation or other aspects. To me however (average user in the community) it’s fulfilling all the aspects of money, even more like speed, transparency, no counterparty risk…indeed, money itself is changing as Lagarde stated.
    You assume that cryptocurrency – or in this case XRP – will replace the existing monetary system. This is simply not going to happen in the foreseeable future. But let’s say it will happen. You need to understand the birth of BTC. It has been a reaction to the financial meltdown in 2008, which is caused by the actual monetary system. You see, a system based on deficit-spending, allowing imbalances to build during the expansion phase. The printing of money leads to malinvestments-read wrong allocation of money. We witnessed several boom-bust cycles, with devastating effects on the households and transferring wealth to the 1%. This is not sustainable.
    So, here we are with fixed supply money. According to the velocity of money, an increase in demand will result in an increase in velocity. Intensified demand will also impact the price because…the supply is fixed. And maybe just maybe, public investment decisions can be taken considered given the fact you cannot print more money.  
    However, you correctly point to the risk of highly concentration. Any (public) strategy relating to the distribution is missing. I hope Ripple accelerates the distribution somewhat.
  19. Like
    zerpian reacted to KarmaCoverage in Staking XRP   
    You dont want a system to be overly weighted to either side. One way (centeralized - Ripple holds near 100% XRP) you are so efficient that any environmental change will break the system's viability, going to far the other way (distributed - Ripple holds near 0%) you waste so much resources that the system cant get a foot hold.
    I guess I see the IoV and all of what's going on as "the internet circa 1995" barley born, mostly conceptual. So in 5 years I'd expect the IoV to be like a 5 year old, walking, talking, but no where near mature, and coddled up till that point in time, but still needing to suffer some setbacks or an apparent crisis, before some unknown system dynamic weaknesses can be identified, and mature mitigation efforts can be pursued.
    In 5 years, new business models will become apparent that we cant yet imagine. It's fun to think about, but you have to be honest with yourself that much is over the horizon and yet to come into view.
  20. Like
    zerpian reacted to enrique11 in Staking XRP   
    Thanks for yours as well.
    I would like to blame the SEC for the lack of XRP's adoption this year, although I don't know what percentage of blame they should take - could even be the primary reason why Coinbase didn't choose XRP before XLM.
    I expect an increase within the US as soon as the regulatory issue is settled for good here.
    Yes, securities are very vague, particularly when you're trying to pin it down with something like the Howey Test.  That's why I prefer to start with actual securites and deconstruct them into a unifying component: contractual (investment contract not work contract) claim (written or unwritten) to value.   When a new security comes along that doesn't satisfy this condition, then I'll have to modify the unifying condition.
    Yes, but if all "cryptos" are exempted from being classified as securities, there will still be the issue of creating a dividing line between what is a "cryptocurrency" and what is not.  If the definition of 'crypto' is too narrow (too many conditions or a condition is too extreme), then we exclude too many cryptos that don't qualify as securities; e.g., any crypto that ever had an ICO is excluded because it behaved like a security at some point along its development; and if it's too broad or accommodating, then we accept some cryptos that have more in common with securities than not like NEO, MOD, BNB, etc.
    Only if it's used as a POS mechanism.  I don't have a legal background, but to me POS qualifies as a work contract, and securites applies to investment contracts, so if no work is being done, and you are just rewarded for holding tokens, then your tokens are behaving like stock (in the case of XRP) and the new XRP earned are like dividends, and the same goes for NEO, except it is the network itself acting like a company and rewarding you with NEO GAS, the latter being a weaker claim to being a security, but in my opinion still acting like one.
    My own belief is it's up to Ripple to decide how to use their XRP and they know best generally how to use it to incentivize MMs, banks, and other FIs to participate in growing the global payments infrastructure that will contribute to the adoption and utility of the XRP network.
     
     
  21. Confused
    zerpian got a reaction from bruce21b in Staking XRP   
    Ok, why would this not be possible?
    Ripple has a huge pile of xrp to distribute (to sell). This will take several years (ages) and creates a tax burden.
    The escrow is missing its purpose. It was meant to assure the markets that Ripple would not dump xrp. I have never had any concerns about this and technically they still can dump a huge amount if wanted. There are about 6,7 B undistributed and non-escrowed XRP’s. Secondly, the distribution predictability was based on an assumption that half of the escrow (500M) would be sold. We’re not even close to that figure, despite an excellent 2018 in terms of sales, we’re at 166M per month on average.
    Staking is actually nothing more than accruing interests on a currency. XRP whether you call it bridge-currency, crypto-..it’s a currency. Is it then abnormal to get interests on a currency you hold?
    We know from the past Ripple tried different strategies to distribute xrp and is thus admissible for such ideas. We also know that Ripple changed a few times of strategy regarding xrp. There is nothing wrong with this because they are pioneers in uncharted territories.
    Practically this could be done by distributing interests proportionally to the holdings in a wallet (excluding some wallets), but in the reverse order. The wallets with lesser amounts get higher percentage. A secondary condition can be added like ‘holding at least 6 months’. It can start as a pilot project on e.g. 1000 wallets to see the effects.
    Remember that xrp is not Ripple’s propriety but belongs to all of those having a ‘stake’ in the ecosystem. If we can get behind this idea, we can push it like the community did for a new logo.
    The next hurdle is going to be regulation. When that is resolved, there is nothing going to stand in front. In preparation for those years, let’s accelerate xrp’s distribution. In the last bear market (2013-2017) Ripple did not much for xrp e.g Coinbase has been in the market since 2012. Why has it suddenly become important in 2017. Another example, Ripple could have insisted to list xrp as base currency on several exchanges during the bear market. So let’s not miss THIS bear market.   
  22. Like
    zerpian got a reaction from KarmaCoverage in Staking XRP   
    @KarmaCoverage
    I'm speaking according the following graph. You might be right about 66-33. Ripple with all the info they have, they want +/- 70 B distributed after 5 years, starting from 12/2017. After 1 year only 2 B has been distributed. Add 8B (at the same rate) for the next 4 years, we will be nowhere close to 70B.
    As you can see the effect of escrow is only starting from that threshold (70B), hence your assumption of rigid-elastic system (?)
    A too rigid system is not good but is a too elastic system better then? Do you see the IoV, which is not the only use case for xrp, maturing within 5 years?
     

  23. Like
    zerpian got a reaction from KarmaCoverage in Staking XRP   
    Programmatically, interest in the form of xrp for holding xrp in order to accelerate the distribution.
  24. Thanks
    zerpian got a reaction from quetzalcoatl in Staking XRP   
    @KarmaCoverage
    I'm speaking according the following graph. You might be right about 66-33. Ripple with all the info they have, they want +/- 70 B distributed after 5 years, starting from 12/2017. After 1 year only 2 B has been distributed. Add 8B (at the same rate) for the next 4 years, we will be nowhere close to 70B.
    As you can see the effect of escrow is only starting from that threshold (70B), hence your assumption of rigid-elastic system (?)
    A too rigid system is not good but is a too elastic system better then? Do you see the IoV, which is not the only use case for xrp, maturing within 5 years?
     

  25. Like
    zerpian got a reaction from XRP_Legacy in Staking XRP   
    Ok, why would this not be possible?
    Ripple has a huge pile of xrp to distribute (to sell). This will take several years (ages) and creates a tax burden.
    The escrow is missing its purpose. It was meant to assure the markets that Ripple would not dump xrp. I have never had any concerns about this and technically they still can dump a huge amount if wanted. There are about 6,7 B undistributed and non-escrowed XRP’s. Secondly, the distribution predictability was based on an assumption that half of the escrow (500M) would be sold. We’re not even close to that figure, despite an excellent 2018 in terms of sales, we’re at 166M per month on average.
    Staking is actually nothing more than accruing interests on a currency. XRP whether you call it bridge-currency, crypto-..it’s a currency. Is it then abnormal to get interests on a currency you hold?
    We know from the past Ripple tried different strategies to distribute xrp and is thus admissible for such ideas. We also know that Ripple changed a few times of strategy regarding xrp. There is nothing wrong with this because they are pioneers in uncharted territories.
    Practically this could be done by distributing interests proportionally to the holdings in a wallet (excluding some wallets), but in the reverse order. The wallets with lesser amounts get higher percentage. A secondary condition can be added like ‘holding at least 6 months’. It can start as a pilot project on e.g. 1000 wallets to see the effects.
    Remember that xrp is not Ripple’s propriety but belongs to all of those having a ‘stake’ in the ecosystem. If we can get behind this idea, we can push it like the community did for a new logo.
    The next hurdle is going to be regulation. When that is resolved, there is nothing going to stand in front. In preparation for those years, let’s accelerate xrp’s distribution. In the last bear market (2013-2017) Ripple did not much for xrp e.g Coinbase has been in the market since 2012. Why has it suddenly become important in 2017. Another example, Ripple could have insisted to list xrp as base currency on several exchanges during the bear market. So let’s not miss THIS bear market.   
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