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  1. Like
    HereIAm23 got a reaction from SamIam in Chat: The Best Ripple Wallet?   
    I took the advice of many people who have been at this much longer than I have.  I use the Ledger Nano S for long term storage.  Sam I Am has a good youtube video on Security for the Nano.  I also use a paper wallet for one of my other holdings.  I have a very small amount of XRP on my preferred exchange for quick access if needed.
    I have also typed up a document for my Wife/Family giving them step by step instructions and hints on how to find, access my Accounts, and recover the Funds, should I become incapacitated or perish.  I don't want to be known like Billionaire, Matthew Mellon, who died and left no way for his family to recover his estimated $500 Million in XRP.
    Although my holdings are miniscule compared to others, with the way hacks are constantly happening, I take the security of what I do own seriously.
  2. Like
    HereIAm23 got a reaction from Pablo in Chat: The Best Ripple Wallet?   
    I took the advice of many people who have been at this much longer than I have.  I use the Ledger Nano S for long term storage.  Sam I Am has a good youtube video on Security for the Nano.  I also use a paper wallet for one of my other holdings.  I have a very small amount of XRP on my preferred exchange for quick access if needed.
    I have also typed up a document for my Wife/Family giving them step by step instructions and hints on how to find, access my Accounts, and recover the Funds, should I become incapacitated or perish.  I don't want to be known like Billionaire, Matthew Mellon, who died and left no way for his family to recover his estimated $500 Million in XRP.
    Although my holdings are miniscule compared to others, with the way hacks are constantly happening, I take the security of what I do own seriously.
  3. Like
    HereIAm23 reacted to BobWay in Chat: General   
    Ask them to buy XRP for you too. The one thing that drives bank to implement something is customer demand.
  4. Like
    HereIAm23 reacted to Rey in Answer chat: So what's my real price?   
    I wholeheartedly agree with you, Bob and Benchmark. And I really think that as good community members we should encourage others to take their privacy serious and not mention sensitive personal financial information on any public medium.
    To be honest I could imagine people working for a company like Ripple, that probably has major global financial impact, being a bit scared as many others might have an interest in wanting something from them. We as a community should at least not make that worse.
  5. Like
    HereIAm23 reacted to Goliath in Chat: Discusion of media channels and personalities.   
    You are out of touch with the majority of the XRP army investors, you can benefit yourself by utilizing further research to gain a better understanding regarding others within this space. There is a reason a youtuber such as the Digital Asset Investor achieves an average of 20k views per video. I for one do not subscribe to any of these groups as matter of investing knowledge or nor accept their theories, although I am not oblivious to the players in the community and its participants, I'm an active equity and commodity trader with well over 25 years experience, I trade for a living. I have taken part in several market cycles, witnessed and participated in several booms/busts actively trading them from both long or short perspectives during the height of market speculations in various evolving markets and asset classes. Unlike those I described previously, I base my investments on proprietary institutional market research available to high net worth portfolios. The individuals whom I describe, much like yourself, sit on the retail side of trades, as with the groups you are subscribed to as well. What moves markets has been well explained in the previous thread by the OP. Just like the gold bugs, crypto communities are plagued with fanatics and novice investors who believe news or news media outlets move price action or influence volume, unfortunately these misconceptions are common place among those with little financial acumen which eventually lead to their demise often resulting with them being the last remaining bag holders. Understanding market sentiment is a vital key to being a successful trader, and understanding the players in a new space aids ones ability to guage further when sentiment begins to change. This bear market will remain a bear market for quite some time longer regardless of the advancements in this space, and only those who are well rooted in their knowledge of this space will be successful to overcome the hurdles over the next 9 to 12 months ahead.
  6. Like
    HereIAm23 reacted to MrH in Chat: Discusion of media channels and personalities.   
    nah, the groups im in barely watch any youtubers and can easiliy identify hype and fud from facts and know the news before these 'youtubers' talk about it pretending they are understanding it.. i think that the popularity you describe is a picture the youtubers love to spread about themselves, but all i see is fake news, hype, misunderstandings and for a true xrp investor its incredibly cringeworthy to watch. Be your own boss, read & learn, invest some time and efforts into your own brains so you can make up your opinions, they are easier to defend and you can change your vision easier as it becomes a true learning process instead of adapting other peoples opinions and trying to make them your own based on popularity instead of propability, facts and logics. You are way smarter than you think once you take away the limitations of being captured in another persons mindset
  7. Like
    HereIAm23 reacted to Rey in Welcome To Our World, Bob   
    I'm with you that the way this dispute seems to go is rather unfortunate @7strings Both @Hodor and @Tinyaccount are awesome contributors to this forum, and they both have excellent knowledge and experience. Also, I'm sure that both of them, just like Bob and many others in this awesome chat do, profoundly understand that privacy and credibility issues are serious matters in a community like this.
    Even if they don't agree on everything, I really hope that both Hodor and Tinyaccount will continue to contribute to our community.
    So to both gentlemen: thank you so much for your contributions and your honesty and even if you have a slightly different perspective on the issue mentioned in Hodor's latest blog ... at least it shows that both of you engage important issues seriously and honestly ... 
  8. Thanks
    HereIAm23 reacted to Hodor in Welcome To Our World, Bob   
    I get the feeling that you posted here to have some sort of audience for your complaints about the number of banks that are using xRapid in production currently? 
    Try creating a separate thread next time please, and keep things on topic.
  9. Like
    HereIAm23 reacted to Hodor in Welcome To Our World, Bob   
    As I've said, I'm not personally upset at anybody asking for cryptographic proof.  But I DO get irritated when people that particpated in something try to spin it later on, ESPECIALLY in an effort to get me to edit my blog.  So, not so much for you, but for other readers that may be just giving this a surface reading, here are my sources:
    You said: "for making it seem like there were a lot of doubters and they were repeatedly not satisfied until finally a crypto proof...."
    My response and sources:
    You said: "as I clearly stated in the post...  I was ALREADY convinced."
    My response and source:  https://www.xrpchat.com/topic/30588-hi-im-bob/?do=findComment&comment=678654
    This is a direct quote from you: "So would you consider proving your identity by moving say 1.09032019 XRP out of an early Bob Way wallet?" 
    You can preface requests like that with whatever pleasantries you want, and you can attempt to spin things afterwards, but it's pretty clear that you are the one asking Bob to do this. 
    As I've said, I'm not personally offended that you requested this; I'm irritated that you're not taking responsibility for your own words instead of trying to get me to edit my blog. 
    I hope that my position in response to your comment is clear at this point. 
  10. Like
    HereIAm23 got a reaction from xrphilosophy in Chat: Possible failure scenarios   
    @spiras I would like to add to your post above.  To add my two cents to No. 2.  Your statement about what David Swartz said reminded me that 20% of the Population owns 80% of the Assets.  I don't recall the name of how this works, however, is has been proven before, that when Money or Assets are redistributed evenly, within a couple of Years, the top 20% will again hold 80% of what ever was distributed.  (Kinda proves David's Point).  My only concern is, not if, but when the Institutional Investors and the general population jump into this new asset class with both feet, I am in the upper 20%, and not wondering why I was left in the dust.
    No. 4--No matter what fiat a stable coin is tied to, with inflation of the fiat, the Stable Coin will lose its value also due to inflation.  There is not a single country out there that does not have inflation.
    No. 6--How many Bull Runs have there been in the Stock Market.  Yeah, there have been some real hard Market Crashes, however there has always been a Bull Run afterwards.  Now the Market is at an all time high.  As your example, every time BitCoin has had a Crash, the next Bull Run has resulted in a higher price for BTC.  I surmise we will see a new high in the next Bull Run.
  11. Like
    HereIAm23 reacted to stuartXRP in List: Most Impactful Things You've Learned   
    Most Impactful Thing I have Learned, is not to worry about the price of XRP. Does Ripple worry about the price of XRP I don't think so. So why should I. Ripple have planned everything out. The more Ripple/others build in return more value will be added to the ecosystem. 
    There is always a plan ✌️  "B" ✌️  Option available if needed, for net upward pressure on the price of XRP which will help Ripple in the points above ☝️
    "So I'll leave you with something that just might make your head explode. But I'll have to say this very carefully using words that I've already heard authorized Ripplers say in public. Hopefully, that will keep me out of trouble...

    It's conventional wisdom that the one thing you can't do by giving away an asset like XRP--is make its price go up. 
    Except one day, a while back, Stefan proposed a concept in which it might... 
    I was quite reticent to believe it. It seemed intuitively impossible, much like you are thinking now. So I sat down to analyze it. And analyze it. And analyze it... And in the end I concluded his exact proposal was wrong. It was likely to put downward pressure on the prices of XRP.
    But, Stefan wasn't very wrong. In fact, using his proposal as a starting place, I tweaked the parameters and intermediate goals and came up with a mechanism that I'm completely convinced will work. It leads to a net upward pressure on the price of XRP...
    ..and Ripple and I received a patent for it.

    Now I don't speak for the company so I can't say if they'll ever deploy the system. I can't say they won't either. But I can say that I know at least one method exists that defies the above conventional wisdom." 
  12. Like
    HereIAm23 got a reaction from pucksterpete in Chat: The Best Ripple Wallet?   
    I took the advice of many people who have been at this much longer than I have.  I use the Ledger Nano S for long term storage.  Sam I Am has a good youtube video on Security for the Nano.  I also use a paper wallet for one of my other holdings.  I have a very small amount of XRP on my preferred exchange for quick access if needed.
    I have also typed up a document for my Wife/Family giving them step by step instructions and hints on how to find, access my Accounts, and recover the Funds, should I become incapacitated or perish.  I don't want to be known like Billionaire, Matthew Mellon, who died and left no way for his family to recover his estimated $500 Million in XRP.
    Although my holdings are miniscule compared to others, with the way hacks are constantly happening, I take the security of what I do own seriously.
  13. Like
    HereIAm23 reacted to BobWay in Answer: Benefits of Banks holding XRP   
    Oh yes, the really important things I'd like everyone to understand and internalize:
    is that it is possible to every accounting relationship on line (1) directly on the XRP Ledger. The XRPL is NOT just for XRP. It can do proper accounting for any currency. Even a new one that is completely made up from scratch. that the XRP Ledger executes multi-party, atomic transactions natively. You don't need to integrate with any other accounting system. So as I wrote above, these end-to-end transactions are called, rippling payments And that's why the system as a whole was originally called Ripple  
  14. Like
    HereIAm23 reacted to BobWay in Answer: Benefits of Banks holding XRP   
    I split this from Chat: General, mostly because I just had steak for dinner again and I feel chill. By the way, if you wife ever suggest you should move to a Keto Diet, do it!!! 
    This is question I'm sure everyone is interested in. I'm happy to answer it and then take a nice nap. !
    I've written elsewhere about this, but it is pretty hard to grok so I don't mind saying it in different ways until everyone is comfortable with the concept.
    (Alice) ------o (Bank A) o------(Mark) ------o (XRP) o------ (Mak) ------o (Bank B ) o------(Bob)              MXN                       MXN / XRP                          XRP/PHP                         PHP                            fee                   fee                                       fee                  fee Description of above line by line
    Line 1 represents accounting relationships between the parties to this payment. Alice holds MXN in an account '----o' at Bank A.  (MXN = Mexican Pesos) Mark has an account 'o----' at Bank A Mark has an XRP account on the XRP Ledger (in addition to his MXN account) Mak  has an XRP account on the XRP Ledger Mak  has a PHP account at Bank B Bob  has a PHP account at Bank B This line shows that Mark and Mak are the traders providing liquidity to complete the end-to-end payment. Mark sells XRP in exchange for MXN Mak  buys XRP in exchange for PHP Because this payment uses both Mark and Mak's liquidity, they each get to take a fee Mark's limit order set the price for converting MXN to XRP Mak's  limit order set the price for converting XRP to PHP The "fee" is logically equal to half the spread in each respective market Also Bank A and Bank B can charge payment fees to Alice and Bob respectively So let's pretend we are accountants. To make the payment from Alice to Bob happen
    Bank A debits Alice credits Mark XRP Ledger debits Mark credits Mak Bank B debits Mak credits Bob The goal of an atomic transaction is to make sure:   (here atomic transaction is being used in the database sense)
    either all three of those debits and credits happen or none of those debits and credits happen at all A multi-party, atomic transaction that results in Alice being debited if and only if Bob is credited is known as a rippling payment.
    But I still haven't answered the question...
    So let's draw the case where Bank A hold XRP.
    (Alice) ------o (Bank A) -------------------------o (XRP) o------ (Mak) ------o (Bank B ) o------(Bob)                     MXN / XRP                                                   XRP/PHP                                           fee + fee                                                               fee                  fee By holding XRP, Bank A now gets to claim both the payment transaction fee, plus the currency conversion fee. And Mark is cut out of the transaction.
  15. Like
    HereIAm23 reacted to Goliath in List: The First Rule of Book Club... (Please Read)   
    Hello Bob and fellow XRP enthusiasts, my Name is Steve
    I have read your terms and conditions and I too agree, however Im more of a fly on the wall observing the developments in this fascinating space and taking part in the future by being solely invested in XRP and BTC. I have no desire to overthrow banks or governments nor do I care to benefit from the suffering of others for my personal gains. I disapprove of those who are not open-minded who choose to be emotional and to pick a side over another remaining steadfast albeit missing the real opportunity to continually grow by allowing their views to be challenged much like science, I see this tech as the ability to advance humanity towards becoming better in many ways, thank you for taking the time to reach out to the community and shedding some much needed light on a plethora of topics which have been misconstrued by amateurs primarily on youtube as exhibited with the nonsense of price predictions, buy walls, over night 50 dollar valuations, jester bears and fraudulent timelines misleading the naive as being an insider, riddling riddlers with fantasy videos, the list goes on...  wishing you a continued healthy journey, sending you positive energy and warm vibes. After over 2 decades in investments having been through countless cycles and introductions to new innovations, I can truly say this particular introduction brings back the excitement of being in the game once again!
    Best wishes to all those on this new adventure, hopefully it takes us all to places we can only see in our imagination!
  16. Like
    HereIAm23 reacted to BobWay in List: The First Rule of Book Club... (Please Read)   
    I realized a while back that I always had a bunch of "great ideas" that I clung to (very privately) because I thought they were "valuable". The problem was I wasn't acting on those ideas. As I learned more about "value" I realized I was completely wrong. Nothing is valuable unless it is "liquid". Meaning you can trade that value for some other type of alternative type of value more handy at that instant.
    So I changed my entire way of looking at the world! I decided to capture the value of my latent ideas by making them more liquid. In financial terms, I use them to buy a type of "future" benefit.
    Here's how my system works. It's a type of contract or promise between you and me.
    I promise to tell you all my "great ideas" openly and honestly at no charge or up front obligation. You promise that, if you take my great idea and run with it as a business or a project, you'll invite me to help you. (I love cool projects) You further promise, that if you get rich and I don't... I get invited to stay on your yacht. So if you accept these terms (or even if you don't),  please introduce yourself below.
  17. Like
    HereIAm23 reacted to BobWay in Hi! I'm Bob   
    This is such a HUGE WIN that I hope everyone reads your post 10 times!
    One of the reasons I'm here is that I don't have to ask for Ripple's permission to make this happen anymore. Y'all never did. But I liked my cushy paychecks!
    Just to be clear, everyday Brad and his team show up to the job to ask and answer the questions, "What is the BEST thing we can do today to help assure that we succeed at our longterm goals of improving (re-inventing?) the worlds financial system?" They focus and make good decisions in this regard. I support them all 100% and consider all of them my friends.
    But there is a lot of room for people like Stefan and the Coil team to say, "What can we do today (using the same tools) that meets our longterm goals of making consumer level folk's lives better and more fun as soon as possible.
    And there is even more room for me and y'all on this site to get to work doing what we think will be fun as well. Really, no permission is necessary.
    What I know, Stefan knows and the Xpring team knows is this whole ecosystem will develop if we can try more things in parallel. As I've mentioned, I have more of my retirement money invested in XRP and Ripple than advisors would think is warranted given my age. I'd like this ecosystem to develop faster as well, and I'm willing to help it do so.
  18. Thanks
    HereIAm23 reacted to BobWay in Hi! I'm Bob   
    I'm trying really hard not to give away too many details before I've established the background ecosystem so everyone can understand the wonkiness.
    But because you asked in such a well thought out way, it would pain me too much not to respond directly. I'll respond with some brief bullets here. That way you think deeper about it while waiting for me to document the background.
    The core problem and goal is establishing XRP as a bridge currency. The key questions you have to ask yourself are: Can it conceivably be done? What is needed to make that happen? Everyone with a cryptocurrency believes theirs will become the de facto bridge currency owing just to popularity. Bitcoiners have been presume in this from the beginning. But they are wrong. It is really, really hard to unseat USD as the world's bridge currency. Why? Because USD has a stable predictable value. Stable valued things are great to price and compare other things against. But mostly because volatility means RISK to market makers. They want to buy low and sell high WITHOUT the market moving. And it is these traders money, the deep tips of the book, that defines the concept of liquid. But it gets worse. Using any cryptocurrency as a bridge asset in the way everyone proposes seems ALMOST impossible. Why? You need to deploy TWICE as much capital to create the same liquidity needed for a non-bridged payment. To send $1,000,000 through the EUR/USD book for delivery in EUR requires $1,000,000 of EUR be available for sale in that book. To send the same amount of money, first through the USD/XRP book AND ALSO through the XRP/EUR book requires $2,000,000 of capital be deployed. $1,000,000 worth of XRP must be available for purchase in the USD/XRP book. And, $1,000,000 worth of EUR must be available for purchase in the XRP/EUR book. That EUR and XRP has been invested by market makers who are looking to make a profit on their investment. This profit is represented by the spread they are willing to offer. Think of the spread as a type of "fee" that will be paid in order to deliver the payment. So if you want to make the above payment and you have two otherwise equal "instant" payments pathways, which of the two above options do you automate your choice?  Well, you choose whichever one is CHEAPEST of course! Hum, so how does pricing actually work? The first path has to pay one fee. (equal to half the market spread in that book) The second path has to pay two fees. (half the spread in the USD/XRP book, plus half the spread in the XRP/EUR book) So, if you want the second path to be cheaper than the first path, each spread has to be less than half as wide as the first path. And worse... Crypto volatility INCREASES the spread! Each market maker needs to account for the pricing uncertainty in the spread they quote. They have no more idea than you do, if the market is going to move up or down over the next few minutes or seconds. If it moves rapidly, their market making profits can be quickly eaten up by the fact that they end up on the short end of every trade. Market making is a zero sum game. The best price gets the trades. If one trader always quotes the narrowest spread, that trader gets EVERY trade. The second narrowest spread trader can end up with no profits at all. So this is VERY competitive. But in aggregate, successful traders CAN'T quote spreads narrower than the volatility will allow. Or by definition they become unsuccessful traders and don't last long in the business. So what is required for crypto as a bridge currency to even be considered plausible? First you have to remember, "It's a profit deal!" Market makers are going to do what makes THEM the most money. Wider spreads don't necessarily result in higher profits. (see zero sum game above) Spreads * Trades = Profit So having a lot of trades at a small spread, can easily beat having a few trades at a higher spread. Deployed capital matters hugely. If I need $1,000,000 on deposit and I make $50,000 a year trading, I might think that sucks. If I only need $10,000 on deposit and I make $50,000 a year trading, I might think that is SUPER! In fact as deployed capital goes to zero, return on investment tend toward infinity. That is fun for competitive people. So let's be clear here: Market makers can't quote a very narrow spread in a volatile market or they'll lose money. They can't deploy a lot of capital against few trades or they'll lose the opportunity to make more money. Nobody can artificially manipulate the market to stabilize the crypto bridge currency, or they'll go to jail. And obviously, everyone in crypto wants their asset's price to rise overtime and never go down. So without manipulating the market or even inadvertently causing the price to "temporarily" drop as you bootstrap... Is a cryptocurrency becoming a bridge currency even plausible? I'm telling you, I think it is.
    I'll leave the details up to you graduate students to work through.
  19. Like
    HereIAm23 reacted to Lawsuit in Hi! I'm Bob   
    Whilst 99% of this goes over my head (at least from a financial perspective) I've gotta say it's both a fascinating and rewarding read. 
    Chunky answers to chunky questions, but I think what intrigues me most is the motivations of the Bobways and the Joelkatz of this world. 
    Whilst one of the major biproducts of any of this pioneering work coming off in the long run is significant (silly) wealth, it seems not to be the driver for those at the heart of it. Let's face it, it is for most of us here, and I don't mean that disrespectfully, just that we are part of the 99.9% of the human race that are driven by greed because, well, we're human.
    Reading this lot answering questions and chatting with each other, it feels like those that stand to gain the most from it's success ACTUALLY care the least about the financial benefits. That they're in fact just interested in impactful change and leaving the world a little different to how they found it. Passionate and pioneering nerds. 
    Utterly in contrast to how the maximalist crypto world views those associated with XRP / Ripple.
    Carry on gentlemen. 
  20. Thanks
    HereIAm23 reacted to BobWay in Hi! I'm Bob   
    This is a good question but it mixes a bunch of topics together that may be confusing you more than necessary.
    Yes, your math works in the first two paragraphs. But in the subtext of the third you seem imply that buying 1,000,000 XRP at $1 will move the market up faster than buying 500,000 XRP at $2. That is not necessarily as straightforward as you might have been led to believe.
    What people in crypto have generally seen in their trading experience are very "thin books". When you look at the valley diagram you see a wide spread and very sharp tips at the bottom of the valley. Sharp meaning there is very little liquidating to buy a the best price and not much more as you move up the sides of the slope. So since larger purchases represent "an area under the curve" and the curve is very flat, prices move up and down very fast. As you get to the steeper sides of that valley, the area under the curve represents more value, so the prices seem to move slower.
    However, often in crypto, once the price moves toward that steep side, some of the people previously willing to sell at what they thought was an awesome prices a few minutes ago run away. They cancel their orders and reset them for an even higher price. This flattens the bottom of the valley again and adds to the price volatility.
    But if you bring professional market makers into that book, they are NOT looking to profit on that price volatility. They profit on the spread as payments go back and forth. So what you might see is more than a million dollars of liquidity at the very tip of the book. That means neither of the $1,000,000 transactions you mentioned at the beginning move the market at all. It is this deeper (thicker?) book that reduces the price volatility, not necessarily the absolute price of XRP.
    And it isn't declining demand that pushes down prices. It is impatient sellers who don't have time to wait for what demand is there. It is this inability to wait that moves the market both up and down. So while it might be possible to buy a million dollars of XRP at 0.30 if you buy just what's available when it hits that price over the course of a few days. If you really want to get the deal done this second, you are going to pay much more.
    So volatility is a function of order book liquidity at each price level vs the instantaneous demand (impatience) to cross the spread. So the price can be very volatile (moving up and back down very often) without moving very much on average if lots of people are impatient to both buy and sell in amounts larger than the tip liquidity will support. The price could also move without being particularly volatile, if more people wanted to buy than sell, but they were willing to be more patient and not try to buy in large chunks.
    I recommend you read my previous post on market makers, arbitragers and speculators. That is a reasonable primer to get your studies going.
  21. Thanks
    HereIAm23 reacted to BobWay in Hi! I'm Bob   
    This was another link I looked at in association to this post, but it seems to be edited out now.
    Again: I don't give financial advice. But I see a lot of misunderstands in how markets work in these links.
    It is really important to understand that people/firms make money in the market in different ways.
    Market Makers: Make money by selling TIME. They are not speculating on the price. In fact, the price moving represents unfortunate risk to them. Market makers exist to make sure that the assets you hold are always liquid. Meaning you can sell them whenever you want without waiting, at a price that is predictable and doesn't move the market. A market maker buys low and sells high by definition. The difference may be only a couple of pennies net on the transaction, but they want to do those transactions millions of times. As I mentioned market making system at large banks can trade TRILLIONS of dollars in a single day. The money simply vibrated back and forth like alternating current.
    Arbitragers: Make money based on MISS-PRICING among markets. Their role is to make sure EVERY market reflects the same market price. Arbitragers hate to take risk, so they don't. They buy on one market and sell on a different market at exactly the same time (or as close as is computationally possible). So the argument that says, as soon as people see the price go up in one market, they'll raise their prices in other markets is not likely a key dynamic. One of the things that arbitragers need to be good at is rebalancing their funds very cheaply. Expect that they are better at this than you are. So if one market is leading the way up, and an arbitrager is lifting a secondary market to match, you can be sure the trader has a fast and cheap way to move his non-crypt funds between markets.
    Speculators: Make money based on changes in the market price. You can think of them as getting their cut last. Markets tend to move based on imbalanced flows. If the same amount of USD is flowing into the XRP market as flowing out of it, then the price will stay the same. If more USD wants to flow in than out, the price will rise. And in the reverse the price will fall. This is one of the huge advantages that the XRPL has over mining based systems.
    With mining, there is a constant outflow to all fiat currencies due to the miner's need to pay their electricity bills and to cover the cost of expensive mining hardware. So bitcoin and other mining based cryptocurrencies need a consistent source buyers using fiat, just to maintain the current price. So if all buyers failed to show up on one day, the price would plummet because miners MUST sell to cover their bills. They can't wait (limit orders) indefinitely for buyers to show up. Ripple validators don't have this continuous utility burn rate. There is some hardware but it is insignificant compared to a mining rig. There is some cost, but it is also insignificant and consistent compared to a mining rig.
    What does push XRP prices up for speculators?
    1) New market makers wanting to enter the markets in order to scalp the high profits from existing market makers. These traders need to buy of "fat stacks" of XRP to keep deployed (long term) in the markets they are making.
    2) Arbitragers wanting to enter the market in order to scalp the high profits existing arbitragers are making. Likewise, they need "fat stacks" of XRP deployed at multiple exchanges so they can execute trades at the same time.
    3) Other people who see holding a very liquid (to every currency) asset as a personal advantage. This includes business and regular people.
    I personally, am NOT trading based on these numbers.
    I see arguments like this all the time. Most are not very well thought out. But if you want to get overly excited about something that might not happen. I've heard a much more fun bit of speculation that went:
    Of course, whose to say when or if that will ever happen. Again, math is fun. But be very careful with your bets.
  22. Like
    HereIAm23 reacted to BobWay in Hi! I'm Bob   
    @JoelKatz In the house!  Now it's a party!
    Thanks for jumping in David. There are a lot of things I hate about being outside of Ripple. Missing hearing your latest ideas first is the worst thing. Feel free to ping me on anything fun. I'm finally coming out of my long Ripple decompression phase.
    I'm hoping to wrangle the community into thinking about those things. Thanks for encouraging it.
    Yeah, you know how much I love social credit, trustlines, and rippling transactions. These folks have no idea what they are getting themselves into! 
    Everyone here is encouraging me to write a book. I'm thinking something like, "Ripple, Blockchain and the Future of Money". I hope you'll collaborate by throwing in your wisdom as well.
  23. Like
    HereIAm23 reacted to princesultan in Hi! I'm Bob   
    We really needed this thread!
  24. Like
    HereIAm23 reacted to JoelKatz in Hi! I'm Bob   
    We certainly would never discourage anyone from using the XRPL's distributed exchange feature! I'm still a bit sad that our strategy lead us in a different direction and that we abandoned the nascent ecosystem we had been building. It was clear that the feature was way ahead of its time and there was no direct path to adoption then.
    I talk to Ethan (head of Xpring and pretty much everything at Ripple other than cross-currency payments) frequently about whether there are good use cases for the ledger's decentralized exchange now and whether that's something we can use Xpring to help develop. I have a plan that moves us in that direction that I've been working on and shown to several people inside the company. The problem I keep coming back to is that there isn't quite a great use case that I can see how to move to a product just yet. But getting more minds thinking in that direction might yield results and time has brought the rest of the world in this direction.
    The other thing that Arthur and I built into the ledger in the early days is community credit. That is, I think, even further ahead of its time and even harder to see a solid use case for in the near term. I sometimes feel like I work for Twitter in 2000 and I'm trying to explain to everyone that for us to really grow, people need better phones. Of course, there was no Twitter in 2000 -- it was too early. I'm trying to find ways to make it later as quickly as possible.
  25. Like
    HereIAm23 reacted to BobWay in Hi! I'm Bob   
    Which are published is time dependent. I don't check that often, but let's see.
    These were issued to me and are Ripple related. (I have one more issued patent that isn't Ripple related)
    These are published applications involving me. (not the boat lift ones. I had trouble filtering the list)
    Feel free to read them. They are extremely boring! I'll talk about the issued ones if you have questions. I'd rather not talk about he ones which are still pending. It turns out that it is very hard to get patents in this area. There was a decision called "Alice" a while back that constrains what software inventions are patentable.
    I suppose you mean this Craig Wright. Let's take a look.
    I see these US Patents. Only the top one seems to be his at first glance. It was filed in 2011 in Australia according to this, so he has been working in the space for a while. Feel free to search the Australian system if you are inclined.
    There do seem to be a few pending applications as well. I'm not going to read them all.
    In general, (nothing to do with the Ripple company or patents specifically) what I've seen is the space and learned from patent lawyers, is that financial patents are very hard to get (owing to Alice). Conversely, the same rulings and logic make them susceptible to challenge by (folks like the EFF) if they are over used to suppress innovation. What I've heard (outside of Ripple) is that patents are good for is building a portfolio to impress potential investors. This type of portfolio is also useful defensively. Meaning, if you own the patent, no one can challenge your use of the invention. I've heard 3rd hand that larger companies use their patent portfolios defensively via patent swap agreements. Meaning, I'll let you use mine, if you let me use yours. This tends to assure the ability to innovate for the entire ecosystem.
    If Dr. Wright is saying that he'll use his patents to squash the crypto or blockchain ecosystem, I would call ******** on that. IBM is in this space and I understand their portfolio is monumental. They could bury him in challenges for the rest of his life. If he is using them to build his own credibility with investors, good for him.
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