Truckdriver reacted to Flintstone in Flair Airdrop - Spark Token.......does the MEW Wallet still provide support for the AirDrop????
Wow. All 3 at the same time
Truckdriver reacted to Troote in Burning 50 billion xrp?
Good example. You will have seen that burning XLM did nothing to the price.
As for owning something in relatively high supply: do you check how many barrels of petrol are in circulation in the world before buying some at your local petrol station? I mean, 1L of petrol is worth less than $1 (people's fiat currency) and there are 4.1B of barrels in strategic storage (at 160L per barrel, that is approximately 640B liters). Based on your reasoning, nobody would want to buy petrol.
You are right that people will not buy something with no value. But just like petrol, the value of a commodity does not come from its supply nor its price.
Truckdriver reacted to BillyOckham in Burning 50 billion xrp?
Omg... you even quote the thing that PROVES that burning coins is a ineffective nonsense promoted by people with no idea of how the market actually works.
You do realise that after Jed burned community coins (not his) there was no effect on price? A teeny bump for a moment then the sag and no long term effect at all.
Assume you are thinking that 100 billion is too many. (That’s nonsense for a number of reasons, but accept it for the moment) Then why is 50 Billion ok? That’s an absurd proposition.
The market has spoken on burning coins and it said... meh.
Truckdriver reacted to JASCoder in An ODL update (Dec 2020)
Excellent material @jbjnr - it's greatly appreciated !!
You might have missed some of our past discussions in the "Bitso thread" regarding the dynamics in ODL in relation to market prices ?
Your charts and analysis appear to support my suspicion that ODL is operating under some constraints based on token volume not value.
You also mention the potential impacts from the recent introduction of more fiat pairs - like Bitso has recently done - this could be having some impact on the viewable metrics I'm now suspecting (see below).
That could be the explanation to the depressed volume this last week (see chart) of XRP->MXN trading.
We're going to have to look at other trade pairs now.
Could the change we see below be from some XRP trading to USD now, maybe even into BTC then traded into MXN ?
( The fee overhead to do that in-house at Bitso is near zero, as heavy trade-fee discounts would be in play )
Here is the Daily XRP volume totals - note the last three weeks...
Truckdriver reacted to peanut56 in An ODL update (Dec 2020)
This is just an observation and by no means have I gone into ODL to the depths that both the above have seem to have done. Periodical there seems to be testing between new pairs for a week or two that bumps the overall volume from currency that are not daily. This seems to bump the volume of ODL for a week and then it disappears for some time. If I remember right that happened with the Euro one and off for about two months before it was and has been in continuous use for a while now. From that if we see the Thai Baht/USD along with AUD/PHP ramping up in the next month few months then we may be able to tell which corridors are coming online a few months in advance.
Truckdriver reacted to jbjnr in An ODL update (Dec 2020)
I haven't posted an update on ODL traffic for some time, here's an update. Please note that I am only able to infer ODL traffic based on 'on-ledger' transactions - if there is ODL traffic that occurs soley on a single exchange, such as USD-EUR or USD-XRP-EUR or the reverse, then I do not capture it. The last time I posted anything about ODL traffic was when ripple made the switch from large treasury transactions to smaller payments. The switchover is clear from the quarterly totals of ODL traffic as you can see in this plot - there is a huge drop between Q2 and Q3 2020. December is just getting started, and hopefully you can see that Q4 2020 is already as large as Q3, so we should be looking at reasonable growth by the end of the year (maybe as much as 25% up compared to Q3).
Quarterly traffic - Please note that the currency labels are guesses - the assumption that bitstamp->bitso traffic is USD->MXN may not be true as bitso now trade other currencies, but since I am only looking at ledger traffic, I cannot be sure of the source/dest currencies - so the colour bars should simply tell you that corridors exist in those areas - the fact that USD/MXN exists in multiple bars is simply due to the fact that multiple wallets/tags operate between bitstamp/bitso regularly.
Weekly traffic looks like this
you can see that after the switchover in traffic in early june, there has been a gradual but slow rise in traffic that fluctuates randomly - no doubt due to both fiat and xrp exchange rate and volatility. It is encouraging to see that traffic is still gradually increasing with a noticeable uptick over the last month or two.
Daily traffic looks like this
You can see a little more fine structure on the daily rates, with the weekend drops and recent rise in mon-fri transactions. Here's a close up view of June 2020 onwards
There is a big drop last week for thanksgiving in the USA, but apart from that you can see daily rates are doing well and gradually rising - weekend traffic seems to be rising slightly as well.
Total ODL volume and 2 week average looks as follows, here, in blue I've added the XRP price - just so you can see that there is no correlation at all between ODL volume and xrp price. I had wondered at the start of 2020 when ODL volume picked up sharply, and price rose for a couple of weeks, that perhaps there might have been some effect, but it is clear from the rest of this year, that speculative activity dwarfs all other effects.
My favourite plot for looking at activity is this one
What you see in the above 5 plots are the ODL traffic in bands of value, 10USD->100USD, then 100-1000, 1000-10000 and so on.
The top 10-100 chart shows a steady slow climb in activity over the last year - the total amount is still a pittance, since even thousands of transfers per day, doesn't amount to millions in value, but the trend is up in a steady fashion. Someone is making regular, but small, remittance payments and gradually building up.
The second 100-1000 plot is quite interesting - here we can see a gradual uptrend, superimposed onto random noise and a signal that looks like a monthly cycle, where payments are peaking with a periodic frequency of around a month. The peaks and troughs appear to shift slightly - so we're not seeing a regular end of month payday triggering remittances - but it may nonetheless be an affect caused by paypackets being received monthly - with remittances being sent when convenient (depending on day of week relative to the end of month etc etc).
In plots 3 and 4, you can clearly see the transition between treasury payments and smaller remittances where the traffic shifts from plot 4, to plot 3, but there is a gradual move back to plot 4 over the last few weeks as the payment amounts are creeping slowly up again. So far we still only have a handful of corridors open, so total volume is low, but if and when more corridors come online, things ought to pick up noticeably and will show up. I hope we don't have to wait another year to see more traffic.
Truckdriver reacted to hamasugu in Twelve Japanese exchanges will distribute Spark Token.
I think Spark is important as bringing smart contracts to XRP.
When DApp or DEX comes in the flare network, XRP will be converted to FXRP.
If XRP is converted to FXRP, sparks need 2.5 times the value of XRP.
The demand for sparks will increase as flare networks become more widespread.
And sparks increase value.
It seems that DEX is also being developed, and FXRP will be locked up when yield farming in DEX becomes popular.
In that case, the number of XRP on the exchange will decrease, so the selling board will become thinner and the value of XRP will increase more easily.（Circulation supply is reduced）
Sparks will be gradually distributed to XRP holders. Therefore, the spark will also go up.
Spark also has oracle rewards like mining.
And in the long run, Spark will bring in tokens from other blockchains, depending on the governance that XRP holders allow.
It's necessary as collateral.
If you come to flare network with ETH or BTC, ETH or BTC can also solve the scaling problem and the problem of rising fees.
It may be the fastest way to solve those problems. At that time, Spark will be needed as collateral, so demand will explode.
Spark will also be relevant to those who have ETH or BTC in the future. If all tokens come to the flare network, all tokens will be able to use smart contracts. This is the biggest advantage for those who have XRP early on and the effect seems to last long!
Ethereum can also bring in tokens from other blockchains. However, a custodian, such as Bitgo, must hold the tokens.
But the spark would allow this to be done without trusting a third party (trustless) with a wide range of tokens and assets by giving the spark a value as collateral. (perhaps No vendor can do this on a large scale with any token or asset.Probably Bitgo would also be difficult to custody any assets on a large scale.)
Ethereum makes it tough to get past the blockchain barrier mechanically, but Spark makes this very easy.
Many people still seem unaware of the value of spark.
Sparks will be of great value if all tokens can use smart contracts.
And in the flare network, XRP will be the key currency.
Because it is the XRP holders who have the most sparks. Therefore, XRP (FXRP) will be the most important currency in the flare network.
The Flare Network is a platform that may allow smart contracts to be used on every token of every blockchain as flare network grows.
And the heart of it will be XRP(FXRP).
Binance will also distribute sparks.
Many exchanges, not just Japanese exchanges, will handle sparks.
XRP and Spark will have a great synergistic effect.
Truckdriver reacted to Julian_Williams in Twelve Japanese exchanges will distribute Spark Token.
I have a good feeling about Spark, they seem to be popular and people are seeing them as infant ETH coins. If that meme spreads investors will want to get in early when the price is low in the expectation they might one day be a major crypto currency like ETH (and XRP).
Truckdriver reacted to hamasugu in Twelve Japanese exchanges will distribute Spark Token.
Japanese are now buying XRP to get spark tokens.
Twelve Japanese exchanges will distribute Spark Token.
Spark tokens will be very popular in Japan along with XRP.
Truckdriver reacted to retryW in New XRP email scam/virus
Just received this email pretending to be Ripple detailing a way to make the XRP ecosystem sustainable. It's a pretty poor attempt, far less sophisticated than most, however I figured I'd let anyone on here know not to click the links in this email, as it's not legitimate in any way.