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Posts posted by Rey

  1. @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 :newblush:) 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.

  2. 1 hour ago, lucky said:



    I too I hate the 2018 rebranding of:

    • Currency Ripple (XRP) -> XRP
    • Ripple Labs (company awarded 80% of the Ripple currency to build ecosystem around it) -> Ripple

    which was not really a rebranding, but unbranding: taking the excellent brand name away, and leaving the currency with just the technical ISO 4217 code, which is a lousy brand name (has to compete with many other X** tokens and does not have any associative meaning) .

    Would you join a community effort to claim back the Ripple name for the currency, just by using it as such? I think we can legally do that, because the majority of tokens that were sold to the public were sold under that name. I consider stripping a perfectly good brand name from the tokens after selling them, and assigning that good brand name to your own company, is a form of theft.

    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 ...

  3. 4 minutes ago, CaptainHook said:

    Mr Way

    First off I would like to thank you for the gifted insight on our little forum......   much appreciated. 

    Secondly I would like to offer my words of wisdom regarding your health problems specifically diabetes. 

    As I reported on here 3 weeks ago, my brother lost his lower right leg from complications related to sugar, and an injury. 

    He failed to take advise I would like to impart to you !

     I also have diabetes. 

    At one time I was up to 3 shots a day. 

    Thru a combination of exercise diet and one other thing I am now easily controlling my sugar with diet. 

    The other thing I am speaking of is a combination of caplets of cinnamon and chromium taken by mouth daily.

    This combination is nothing short of a miracle that I have used and hopefully my brother has seen the light and will use. 

    I also helped my neighbor with the same therapy with amazing results.

    I urge you to research and see for yourself the benefits of these two substances. 


    Thank you Bob, and as I always say .......................................................................................................................       Buy more XRP !!! ....  of course you know this !


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

  4. 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? 

  5. 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?

  6. 1 hour ago, KaaKaRmA said:

    Change always start with the weak minded and gullible. 

    Change often starts with an idea. Someone thinking "Wouldn't it be great if ...", someone who thinks that change is actually possible.


  7. On 2/16/2019 at 10:05 PM, KaaKaRmA said:

    Quite the opposite.  I'm secure enough and have free time from not chasing riddles that I elect to spend some of the free time helping the gullible, weak minded, who may easily fall victim to the promise of riches.

    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!


  8. 13 hours ago, Parabellum said:

    So, I visit in XRPchat for the first time in a long while again and I see a 195 page topic dedicated to some cartoon character. The XRP community its standards really have fallen compared to the past, I'll say that much. 

    You were that early, yet you don't like cartoons? What about magic cards?

  9. 3 hours ago, xrphilosophy said:

    Owners of certain coins are most certainly feeling threatened.  Nothing to do, but just allow the global market to choose...

    These street hustlers have absolutely no agency in the society of crypto as much as they would like to think...

    One could think of others with an interest at stake and the same goes for some other motives ...

  10. 8 minutes ago, Zerp_Legend said:

    Maybe @Ripple-Stiltskin knows this.

    I found the term "loro" account which means if for example Bank B holds an account for Bank A. 

    From A's perspective this is a nostro account and for B it is a loro account, so they mirror each other.


    Now Frances claims that Nostro and Vostro are mirror images but not true, as I understand it Nostro and Loro accounts are mirror images. 


    And why should Nostro and Vostro be the same? Maybe an African Bank needs to do lots of payments in USD, zhence creating a nostro account. That doesnt mean that the partnerbank in the US needs to make lots of payments in an African currency (vostro account)


    Vostro and Nostro cant even be the same because they are held in different currencies


  11. 17 minutes ago, Zerp_Legend said:

    Of course there are dormant funds. 

    Also, powerful banks benefit a lot from correspodent banking. With xrp small banks from all over the world will have more power/options to send money. Ripple is actually decentralizing the banking system.

    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 ...

  12. 47 minutes ago, Amigo said:

    I’m not a banker but there seem to be a series of flaws in her story:

    - She claims for every nostro account there is equivalent vostro account.


    - She mentions the banks' exposure to fx risk if they would use XRP. 


    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. 

  13. 36 minutes ago, Freaky said:

    For my bank yes.  Infact when we started our first POC with xcurrent in 2015 , a business case could not be justified as there was negligible savings over SWIFT, and this was revisited during our upgrade to GPI just over a year ago. 


    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?

  14. 26 minutes ago, Freaky said:

    The bank I work for charges customers $20 for a SWIFT transfer via Internet Banking, and $32 to do it via a branch.

    Our cost for standard value transactions via SWIFT GPI is 40cents, that we pay SWIFT.


    Do you think that those 40c are the total costs of the Xborder payment? :JC_thinking:

    Here's the average break down of Xborder payments in general ...


  15. 5 minutes ago, invest2lose said:

    what does this mean then? why would coppola say otherwise? obviously she's a smart person and has been in the banking industry. what's missing? blatant lies and fud?

    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 ...

  16. 1 hour ago, automatic said:

    @Tinyaccount - I think that the entire nostro balance point is meaningless.

    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 :) 

  17. 2 hours ago, Tinyaccount said:

    I take @automatic s point about her predisposition to attack the concept but she has raised a small doubt in my mind.

    I’m now in sceptical mode...  I’m not at all sure if she is right or Brad is right about Nostro.  I’m guessing Brad but I’m open to persuasion either way.  

    I do recall Brad quoting what seemed like an authoritive source at one point that had researched the ‘locked’ capital in Nostro.  

    But now I’m uncertain.  

    I have myself seen a FI run out of capital in its overseas account and so it was unable to process further customer transfers...   so it sure seemed liked the situation Brad has endlessly described.  In that case it was a weekend, and so nothing could be done till Mon arvo because of timezone differences.  

    I guess someone will know around here and come back with useful info.  Sorry that I can’t...

    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 ;)


  18. 3 minutes ago, Ripple-Stiltskin said:

    This is a clear case of “ contrarian view profiling”  imo.

     1. Post an absolute nonsense FUD article without additional comments

    2. Wait for the anti FUD reactions

    3. Call them out for disliking “ contrarian views” 

    4. Play the victim of so called “ hypers” 

    5. Denial

    6. More FUD posts


    Crypto is unpredictable but this poster isn’t, lol. 

    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.

  19. @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 ... 

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