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Cobalt

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  1. It is important to understand that the success of any technology-based endeavor is not just dependent on the underlying technological mechanisms, the resources that are channeled into creating awareness for a platform, getting adoption through educating stakeholders and users, etc, are very crucial. As an analogy, there are many successful tech platforms and companies today - Microsoft, Facebook, Netflix, Alibaba, etc. If one decides to build a Facebook-clone and call it Facebook2, could he do it? Sure he could but a large part of whether Facebook2 becomes as successful as the original Facebook hinges on whether sufficient resources can be put into it so that it gains traction and achieves critical mass. In theory it sounds simple, build a clone and get mass adoption. However reality cannot be more different. Many have tried that and failed. Technology is but one part of the whole picture, and even that itself has to evolve over time as needs and requirements of the users change. So XRP2, XRP3, XRP4, ... XRPn could be invented but the crux of the matter is how these new creations can gain enough support to matter. It is possible that one of these may surpass the original if sufficient resources are injected to grow it but that would also require the original XRP (and the initiatives that support it) to remain static and not evolve at the same time. Never say never, but looking at the fast-growing ecosystem that XRP now has, there is plenty that a forked initiative needs to accomplish in order to catch up with it.
  2. One of the main causes of economic crises is when the velocity of money slows down e.g. consumers reduce their spending. The slowdown has a cascading effect on businesses which in turn impact employment numbers negatively (creating a vicious cycle). By reducing friction in money movement, we would have a positive effect on the velocity of money and extrapolating from that, a positive effect on the global economy in general.
  3. This will provide impetus for regulators to provide FIs go-ahead for xRapid adoption in order to free up the huge amount of capital resources locked up in the Nostro/Vostro accounts. It should not be difficult to visualize what trillions of freed-up capital can do to aid in preserving solvency for banks worldwide.
  4. On the contrary, there would be even more incentive to improve margins on services during a down-turn, and nothing beats xRapid in reducing cross-border payment overheads (thus minimizing costs and providing more buffer for profits).
  5. Cobalt

    XRP - The Standard (Big read)

    This is slightly more updated: https://theblockchainland.com/2018/08/31/countries-with-their-own-digital-currencies/
  6. Cobalt

    XRP - The Standard (Big read)

    The primary role of XRP has always been to facilitate flow and movement of value across channels that connect both symmetrical and asymmetrical ledgers. Any sustainable rise in value of the individual unit would eventually have to come from utility rooted in its primary role, not otherwise. Speculative pressures have an impact on its price currently because the rails of adoption are still being laid.
  7. Cobalt

    XRP - The Standard (Big read)

    This link would provide a good summary (albeit superficially) of the current situation internationally: https://cointelegraph.com/news/state-issued-digital-currencies-the-countries-which-adopted-rejected-or-researched-the-concept
  8. You're most welcome! It's great that your host is running fine now. Regarding the pod uploads, there are times when they can fail intermittently if the specified/selected host is experiencing issues such as network congestion. I believe the Codius team is working on refining the fault-recovery mechanisms e.g. retries, time-out, etc. You might also wish to view the logs of the Codius CLI to find out the exact issues causing the uploads to fail.
  9. You might wish to run "systemctl restart codiusd && journalctl -f -u codiusd" to view the error messages as they are generated during the self-test. They should be able to help you identify the issues with your host setup. Do talk to @mikkelhviid as well to explore the possibility of developing something on Codius together.
  10. One of the ways would be to look at your list of peers e.g. codius.domain.com/peers and start from there. Are you using the Codius CLI to do the upload? https://github.com/codius/codius
  11. Cobalt

    XRP and TAX

    These links point to the Australian Taxation Office's stance on cryptocurrencies so the information contained within the pages should be pretty conclusive. Tax treatment of cryptocurrencies https://www.ato.gov.au/General/Gen/Tax-treatment-of-crypto-currencies-in-Australia---specifically-bitcoin/ Record keeping https://www.ato.gov.au/General/Gen/Tax-treatment-of-crypto-currencies-in-Australia---specifically-bitcoin/?anchor=Recordkeeping#Recordkeeping Additional information https://www.ato.gov.au/General/Gen/Tax-treatment-of-crypto-currencies-in-Australia---specifically-bitcoin/?anchor=Additionalinformation#Additionalinformation
  12. It looks like you are using btp2.mlab.company. They had an issue with their balance a few days ago and it should be fine now.
  13. Which ILP connector are you using? This error message stands out: "Insufficient reserve to complete requested operation." As you mentioned you have 100 XRP in your XRPL account configured for this, the error message likely refers to the ILP connector's balance being insufficient.
  14. Cobalt

    urgent!!!!!! NEED HELP.

    Yes, this is provided your HDD was not damaged by the drop.
  15. All payments made to hosts occur on the XRPL. This means that should the need arise, it would be possible to have an audit trail that leads to the creator/uploader of the smart contracts. Additionally, at present smart contracts run as hyperd pods on the host server and their images can be archived for reference/examination if need be. From a legal perspective, it won't be a major effort to incorporate disclaimers into the Codius CLI (which is currently the only means to upload a pod to the hosts) that provide a certain degree of blanket protection to host operators.
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