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Everything posted by Rey

  1. Hi, I'm Rey ... a scavenger from Jakku who's interested in all aspects of the birth and development of the IoV, tech as well as non tech ... These days feel as exciting as the early days of the net, 2 to 3 decades ago. Myself I'm an ICT consultant, though I studied corporate law and bank law a long time ago.
  2. Rey

    New Badge: Platinum

    @karlos Though @BobWay only joined this awesome chat about a week ago, he shared so much first hand knowledge, experience and wisdom already, that you guys might consider rewarding him with an honorary badge. If not for that reason, it also might make other badge holders (like myself ) feel a little less uncomfortable. Last but not least, current Ripple employees, just as forum admins/mods, have a special mention of their function added to their profile and they don't seem to take part in the badge subsystem, so that might be an alternative ... though you might just ask Bob if he would be comfortable with that.
  3. Rey

    Hi! I'm Bob

    Though I probably wouldn't use the words and the qualification you just did, I do sympathize with the sentiment. Actually the event reminded me of the Redhat Linux story back in I think 2002 or 2003 ...
  4. Rey

    Hi! I'm Bob

    Thanks for sharing @CaptainHook Really awesome that you're trying to help others staying healthy. I wish you and your brother all the best
  5. Rey

    Hi! I'm Bob

    Hey Bob, thanks for sharing your knowledge and wisdom. Really awesome that you're trying to help us understand more about Ripple, the XRPL and XRP. Could you talk a little about the unique features of Codius, its design goals and the current status of smart contracts ? Also, with R3, the Corda platform has come to the XRP ecosystem. Do you think that this has any impact on the future of Codius?
  6. Rey

    Hi! I'm Bob

    Hey Bob, welcome to XRPchat and thanks for your contributions! Could you please tell us some things about the early days of Ripple, as that information seems to be fairly fragmented? E.g. what was the origin of the name Ripple, was it a thing Ryan Fugger came up with? What was his contribution? Also, what was exactly the role of Jed? David recently mentioned: "Jed had the original idea to use a distributed agreement algorithm instead of PoW to solve the double spend problem in a distributed ledger. He hired me in late 2011 to see if that was possible and, if so, if it was good for anything." As we mostly hear things about Jed like the MtGox story, Jed leaving Ripple with some issues, I wonder how you guys feel/think about him. Also, the road that did lead to the current focus of Ripple, was that primarily inspired by Chris? Was there much input from the Ripple investors (i.e. strategic investors/venture capital firms)? Last one for now, I promise ... what do you think that we as a community could do to support Ripple, XRP and IoV in general?
  7. FWIW - the video going around where Dan Morgan mentions xRapid ‘not being live’ is from one of the Blockchain for EU panel discussions back in November (27th) Thanks to @CountZerpula for mentioning.
  8. Change often starts with an idea. Someone thinking "Wouldn't it be great if ...", someone who thinks that change is actually possible.
  9. Owwww ... that's so sweet. How nice to do such a thing. And it's really awesome that from the gazillion ways to do so you elected specifically this niche. Thank you and good luck!
  10. You were that early, yet you don't like cartoons? What about magic cards?
  11. One could think of others with an interest at stake and the same goes for some other motives ...
  12. https://www.investopedia.com/terms/n/nostroaccount.asp
  13. True, so maybe it's a good idea to keep that in mind when reading dubious or even false and malicious information online ... it's not only BTC maximalists who might have interests spreading FUD ...
  14. Let's break down the terms "nostro account" and "vostro account". A nostro account and a vostro account actually refer to the same entity but from a different perspective. For example, Bank X has an account with Bank Y in Bank Y's home currency. To Bank X, that is a nostro, meaning "our account on your books," while to Bank Y, it is a vostro, meaning "your account on our books." So for the above reason the claim just states the obvious, though doesn't add anything to the debate regarding the need for pre-funded bank accounts. The argument wrt to the exposure of banks to FX risk has been countered very convincingly by Brad onstage with the SWIFT CEO. While it is still true for now that the volatility of XRP is larger than the volatility of many FIAT currencies, the period of TIME of exposure is significantly smaller. While a SWIFT transaction can take several days, a transaction on the XRPL takes just a few seconds and even an xRapid transaction takes less than a few minutes. So from a mathematical perspective this claim is also moot.
  15. If that's true and the math is correct, maybe your payment infra already is fairly efficient ... did the business case include the costs of settlement? I ask because xCurrent in 2015 as well as SWIFT before and after GPI don't change anything about the Nostro issue ... And maybe the majority of your xBorder payments involve efficient, low friction, high liquid corridors?
  16. Do you think that those 40c are the total costs of the Xborder payment? Here's the average break down of Xborder payments in general ...
  17. Good question. The issue at hand is Ripple stating an amount of $5T that can be released, while Mrs. Coppola states that that amount is just a flow. First, tbh I haven't seen the number $5T mentioned explicitly in the McKinsey report, even though that number hasn't been debated itself. Second, if $5T would be flowing continuously, one could argue that it's actually locked ... so we'd need to know the volume that flows per time period. I don't know enough about Mrs. Coppola in order to be able to say anything about her motives and objectives ...
  18. Hey @automatic Sorry ... nope ... according to a McKinsey report from 2016 the average costs of Nostro liquidity (period 2013-2015) are 34% per international payments transaction See Exhibit 9 (page 21): https://www.mckinsey.com/~/media/McKinsey/Industries/Financial Services/Our Insights/A mixed 2015 for the global payments industry/Global-Payments-2016.ashx Though I concur with you that there are many other arguments pro the Ripple solution
  19. Hey Tiny, According to Ripple itself (see: https://ripple.com/insights/liquidity-explained/) the source is a 2016 McKinsey report: "According to a 2016 McKinsey Global Payments report, there is approximately $5 trillion dollars sitting dormant in these accounts around the world – tying up capital that could be used in more productive ways." Link to the report: https://www.mckinsey.com/~/media/McKinsey/Industries/Financial Services/Our Insights/A mixed 2015 for the global payments industry/Global-Payments-2016.ashx HTH
  20. Rey

    Clean up the forum

    Thanks @Tinyaccount Agreed.
  21. Thanks @Ripple-Stiltskin Agreed. And this is the third time within a week that this member starts a new thread mentioning content from the same source. Last Thursday: "Ripple’s “200+ Institutional Clients” Claim Is A Scam" Last Friday: "Ripple’s Lie About Its Santander Partnership" I have nothing against a healthy critical discussion, but this is just trolling and IMHO harms our forum.
  22. Maybe you're right, though remember that the current CEO also has the role to defend the interests of the main/biggest SWIFT stakeholders ... e.g. maybe he just "has to" buy time ...
  23. @Pablo @King34Maine Good point and well written! Considering the amount of change DLT brings and the fact that it touches the very core of the FI's business processes, you're right that it implies a lot of work and Ripple as well as their customers could use help from parties that are familiar with the industry. A Ripple product implementation probably isn't just the installation of some software ... apart from ICT and business process redesign consult, training, pre and after sales, their customers would also need to consider impact on reconciliation, auditing, legal issues and many other things ... Ripple could work on some implementation white books together with channel partners ... So yes, I'd say it sounds like a good idea ... big ICT firms as well as accounting/consulting firms would be suited for the job ...
  24. Don't do as they say, do as they do ... apparently they need to buy even more time to build up their position and work on their infra ...
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