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Pixelboy

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  1. Haha
    Pixelboy got a reaction from Baka in Charting the course of XRP   
    The ride was fun, back to bed, i took some profit before the big pump time which was a big dump instead.
  2. Like
    Pixelboy reacted to LetHerRip in Charting the course of XRP   
    I agree with you on that, they should have attacked the bad actors and not the network/XRP.
    Its not so much the case of XRP being a security as it is that the CEO and Founder where engaged in market manipulation and fraud, should have gone after them personally, locked them up and left XRP alone. The network works, the people responsible for it where the problem. 
     
  3. Like
    Pixelboy reacted to Julian_Williams in Epic Pennant on BTC Chart   
    I have just cut my stake in XRP into half
    This is partly an emotional reaction.  Garlinghouse was selling far more XRP than he needed to provide for even a very lavish lifestyle, at the same time as promoting XRP to the public and his partners.  The cognitive dissonance/conflict of interest in this sort of behaviour is to me breath taking.  I am having trouble believing in the honesty of Garlinghouse as CEO.  I am wondering if he did not settle with SEC to save his own backside, or for the good of Ripple.  I have no way of knowing if he is still pointing two ways, like he seems to have been doing for several years.
    Many years ago, when my business was young, I was dealing with an American distributor who was doing business with someone who had cheated one of my artists.  This was enough for me to stop doing business with him.  In a stroke I cut out 30% of my business, and ever since it is a first principle of my business never do trade with someone you distrust or believe is dishonest.  I feel the same sentiment towards Brad Garlinghouse.  I cannot forgive his duplicity.  It is making me feel unwell. 
    That said I want also to say before this happened I have never seen Ripple/XRP in such a strong position.  
    No 3 in CMC on the threshold of a bull market in 2021 The only token in the top three that has a real use case The combination of ODL and Flare I am so happy I have the flare tokens.  In many ways I now see these are more promising than XRP (under this management).
    Another reason I have cut my stake is that I think there will at some point be a BTC correction, and this will drag XRP down too.  I will review my position and could well buy back into XRP. 
  4. Like
    Pixelboy reacted to Julian_Williams in Epic Pennant on BTC Chart   
    I know you are not.  To be honest I had not thought about it very deeply before this incident, although I was always unhappy with Jed's unloading of stock and did already think that any founder should not be selling.
    My View:  Simply there is a conflict of interest in their roles are owners and managers of Ripple Labs which basically (although they changed the name of the founding company and gifted them to Ripple) created the tokens, and the purpose for which the tokens are sold to the public.  The tokens are sold to the market as token that have a purpose, and through that purpose they will (hopefully) gain in value.  The purpose being as tradable assets on software built by Ripple Labs (and now other companies working on the XRPL).  The money, which has been created out of the sales, should be used to benefit the purpose of the tokens.  
    The money from the sale of XRP should be used to create the environment in which the sold tokens will gain value.  So it is perfectly in order for the money to be put into the coffers of Ripple Labs for the building of the software.  Ripple Labs, as beneficiaries of the money from the sale of the tokens on the public markets, should then provide an audit showing the use of the money.  They can buy the services of software engineers, and pay their managers a million a year, set up market makers as long as it is properly audited ad done for the benefit of the buyer of the tokens.  
    What has happened is that Chris and Brad, who are already paid to do a job and look after the wellbeing of the tokens sold in good faith to the public, have a second interest which is to sell their tokens at the highest possible price and keep the income.  It is an absolute conflict of interest they they have this huge reserve fund of off the books XRP gifted to them which is then not sold for the benefit of the ecosystem they are developing, and is in fact creaming money out off the markets they are there to develop and protect. 
    There is also the issue of insider trading.  They can see the bad news and off load before the price tanks, or onload before a big positive report is published.
    I do not think Brad and Chris are heinous people.  Crypto grew up in an unorthodox environment, and they were doing the same as many others in that market.  Probably not thinking about the conflicts of interest very deeply.  I think they should not be fighting with SEC.  They were offered a fine which was a way out.  It is time some more rules were put in place about how ICOs are managed, so in many ways I find myself on SEC's side in this argument.
    Just my point of view. 
  5. Like
    Pixelboy got a reaction from LetHerRip in Action plan after SEC complaint   
    I've been holding since 2017 and i sold all my stash yesterday. Reading the SEC document was an eye opener for me. Ripple is one of the main contributors of the XRP ecosystem and i feel really disappointed about the company, maybe in the future when everything settles down i will revaluate my position but for now there's so much uncertainty in the market.
  6. Thanks
    Pixelboy 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.
  7. Haha
    Pixelboy reacted to LetHerRip in Epic Pennant on BTC Chart   
    Sir, I have located the problem, this is the misfiring of the 3 cylinder! Working on it as we speak:

    We will resume upwards on onwards shortly, please stand by.
     
     
  8. Like
    Pixelboy reacted to JASCoder in Charting the course of XRP   
    Howdy Billy-san, I too have been monitoring and pondering the relationship of BTC and XRP price action, and more specifically their ratio of value to each other.
    Much like in precious metals (PM), the gold / silver ratio can be most telling regarding aspects of market sentiment. Unlike with crypto, PMs doesn't use one element as a gateway to access to the other (ie. gold->silver), whereas with BTC, it is often used as a staging point to then move into XRP (and others?).
    The chart below is the price action of the XRP_BTC exchange prices since 14FEB2020 to date.
    As you can see, it's a huge spread !!
    (and note, how today it's the same as it was in Feb). 
    I am still pondering the causes of, and implications of this intriguing dynamic.
    So, for now, it is fair to conjecture, that SOMETHING very significant engaged in mid-November - which has the resulted in a spike in converting BTC into XRP that you can see in both below's chart, and XRP's price rise behavior.

    Here's the chart...
     

  9. Like
    Pixelboy reacted to nikb in What would happen if Ripple turned off their validators for a week   
    Depends on what you're asking: the network should continue operating normally, but server operators would be justified in taking decisive action.
    As for the network, individual servers would continue operating, collecting validations and running the consensus engine. If a sufficient number of validations from validators on a server's UNL were received, that server would advance its ledger. If not, the server would not. For servers using the UNL currently published by Ripple (which currently includes a total of 38 validators), the remaining 32 non-Ripple validators would be enough to continue advancing the ledger, regardless of whether Ripple's validators were online or what they did.
    I'd also imagine that people would choose to quickly stop listening to any validator whose operator would pull such a stunt, which is a good segue to your next question, since I think it would have the same answer: 
    I imagine that server operators would just switch to a different UNL publisher (or manually select the validators they wished to listen to).
  10. Like
    Pixelboy got a reaction from Julian_Williams in Ripple sued by NPP Australia over trademark   
    I think this was intentional because the first time i heard about PayID i searched for the term in Google and the first link i got was https://payid.com.au/, so i do not think they were so naive to not do a minimal research about the name.
  11. Like
    Pixelboy got a reaction from Cesar1810 in Ripple sued by NPP Australia over trademark   
    I think this was intentional because the first time i heard about PayID i searched for the term in Google and the first link i got was https://payid.com.au/, so i do not think they were so naive to not do a minimal research about the name.
  12. Like
    Pixelboy reacted to LeonidasH in Binance lists XRP/AUD pair   
    https://www.xrparcade.com/news/binance-lists-xrp-aud-pair/
  13. Haha
    Pixelboy reacted to LetHerRip in Possible start of a bull run   
    Great news the XRP community can finally drop some of these

  14. Like
    Pixelboy reacted to mandelbaum in Federally Chartered Banks and Thrifts May Provide Custody Services For Crypto Assets   
    BitGo has been creating custody wallets on the XRP-ledger for 3 years, they are closing in on generating 31 000 wallets.
    https://bithomp.com/explorer/rD4G6gtD2KwHqsRf7pcyA8r1neUzXT61ix
    Someone knew what was coming, Goldman Sachs invested in BitGo back in 2018.
    https://www.finextra.com/newsarticle/32809/goldman-sachs-invests-in-bitgo
     
  15. Like
    Pixelboy reacted to cmbartley in Federally Chartered Banks and Thrifts May Provide Custody Services For Crypto Assets   
    When you consider Ripple implementing PayID on RippleNet, PolySign providing bank custody and implementing PayID, Avanti bank launching as a fully regulated crypto bank in WY, and crypto ecosystem participants implementing PayID, it's easy to imagine how value could start to move like email...
  16. Like
    Pixelboy reacted to VanGogh in Federally Chartered Banks and Thrifts May Provide Custody Services For Crypto Assets   
    https://occ.gov/news-issuances/news-releases/2020/nr-occ-2020-98.html
    credit to XRPDarren @Fame21Moore for pointing me to this article
    "From safe-deposit boxes to virtual vaults, we must ensure banks can meet the financial services needs of their customers today," said Acting Comptroller of the Currency Brian P. Brooks. "This opinion clarifies that banks can continue satisfying their customers' needs for safeguarding their most valuable assets, which today for tens of millions of Americans includes cryptocurrency."
  17. Like
    Pixelboy reacted to LeonidasH in Coinbase adds XRP/GBP pair   
    https://www.xrparcade.com/news/coinbase-adds-xrp-gbp-pair/
  18. Like
    Pixelboy reacted to Eric123 in Epic Pennant on BTC Chart   
    Bitcoin's price is above the short term down trend which provided support.  The Bollinger Bands continue to tighten to levels not seen since March 2019.  Still waiting on our big move.
    @Milly238 When the whole crypto market starts going up I would think XRP will participate.  XRP is certainly due.  I would expect XRP take out it's ATH  and then some prior to going on a parbolic run. 

  19. Like
    Pixelboy got a reaction from Cesar1810 in Crypto Eri - News from the Far East   
    Hey @CryptoEri!, nice to see you here, thank you so much for all the hard work, you are my favorite XRP youtuber.
  20. Like
    Pixelboy got a reaction from Julian_Williams in Crypto Eri - News from the Far East   
    Hey @CryptoEri!, nice to see you here, thank you so much for all the hard work, you are my favorite XRP youtuber.
  21. Like
    Pixelboy reacted to CryptoEri in Crypto Eri - News from the Far East   
    Am very interested in comments from Today's Video with ABB registering XRP Ripplenet and PayID for the Dubai Smart City. I'll look to seeing Julian's Summary. 
     
  22. Thanks
    Pixelboy reacted to Julian_Williams in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Thailand seems to have gone live - watch utility scan graphics in the last half hour - lots o little payments streaming to US, Australia and Korea https://utility-scan.com/#/dashboard 
     

    They are almost micro payments - 39 dollars 88 dollars 
     

  23. Like
    Pixelboy reacted to Julian_Williams in Crypto Eri - News from the Far East   
    I have been threatening to do this for some time:  Crypto @Eri produces bulletins packed with the latest news about Ripple/XRP, SBI.  She provides analysis that is very often unique and insightful and depends on translating Japanese links.  The sort of new information that should be discussed on this open forum. 
    My intention is to start a rolling thread of subject matter she is introducing.
    Bullet points:
    SWIFT is becoming more accommodation towards collaboration (video clips) with outside companies like R3 - but at the same time they have been dragging their feet over the ISO20022 standards New Digital banks are growing and changing the landscape of cross border remittance industry, and removing the need to use big banks Markus Treacher has announced that new ODL corridors will soon be arriving in Asia-Pacific,  Middle East and Africa The remittance industry is worth 500 billion but has contracted about 20% due to the corona virus pandemic.  This squeeze is leading to demand for greater efficiencies which can be satisfied by moving to ODL solutions The SME market is being served by new types of banks like Remessa and Bex Banks.  These banks serve Brazil/ Argentina and Chile using ODL.  The market is huge And then there is the fluff - cultural news from Japan - I will let you find out for yourself.
    So everybody - let's beat the negativity and instead of constantly harping on about price, lets discuss how the network is growing and speculate on where our investments are likely to grow and spread new roots.
    Eri's Daily Crypto Journal: https://coil.com/u/TheCryptoJournal
  24. Thanks
    Pixelboy reacted to LeonidasH in SBI Holdings to launch Japan’s First crypto-focused fund with 50% XRP allocation   
    https://www.xrparcade.com/news/japans-first-crypto-asset-fund-to-allocate-50-to-xrp/
  25. Thanks
    Pixelboy reacted to JannaOneTrick in PayID Live Conference link   
    It is recorded and should be available later on once uploaded.
    I do not know where yet.
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