Jump to content

lysistrada

Member
  • Content Count

    49
  • Joined

  • Last visited

About lysistrada

  • Rank
    Regular

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Did the Celsius Network pass your sniff test for legitimacy? Nexo did for me. I'm still not going to put my bag of XRP on their platform, but I think I could safely do so. I admittedly only looked into Celsius in a very cursory manner, but when I did I just wasn't sure I was every going to trust them with any of my holdings. Then again, I barely trust Binance with my holdings.
  2. I checked out CEL as well. I don't remember what I concluded; I will have to look at it again. I appreciate the heads up. With every crypto boom, more and more people get involved and this means more people are going to want to be able to gain cash from these holdings without having to sell. It seems very strong to me. Right now, let's say you have $10M in fiat. You can buy $10M in some stable coin and put it into the Nexo platform. You will get paid out - daily - a 6.5% APR which means you can get $1800 or so a day without commitment. There's nothing else like that out there. Yes, there are investment vehicles which can potentially pay this out, but they generally require a very long term commitment. I doubt they'll have this deal in place for all that long, but it's a hell of a deal.
  3. I'd like to add that you can use XRP on Nexo (a company funded by Arrington Capital; Michael Arrington being the most pro-XRP VC out there) to create a line of credit secured by said XRP and get their debit card. The Nexo token is one I am bullish on, personally.
  4. I enjoy the speculative/theoretical as much as anyone. Is the connection you are drawing just Switzerland and the timing? Or is there something else I am missing?
  5. I ordered a shirt. I'll post my feedback on quality. I have a Ripple shirt I got a few years ago which is one of my favorites, but it's time to upgrade.
  6. He's using Amazon for fulfillment. So Amazon would need to accept XRP. My super optimistic conspiracy theorist side suspects paying with XRP on Amazon might come sooner than we think.
  7. I think the Ripple versus Swift mentality just plays into our human desire to bifurcate issues in an overly simple manner that mentally is no more complex than "Ripple Good. Swift Bad." I think the former employee's answer makes a lot of sense. In reality, the Swift messaging competitor of xCurrent - to me / in my opinion - was never the key ingredient. It was a tool to force the hand of banks and Swift to put themselves on a platform that could ultimately use xRapid to instantly settle transactions. The following is probably a facile analogy, since I can't know the underlying motivations actually present, but you may recall that Google Fiber was speculated to be an initiative to make other ISP's be competitive with regard to bandwidth costs for consumer level service. I don't know if that's true, but I do know that my neighborhood is now wired for Google Fiber and Google Fiber is now one of three choices present for me to have gigabit download speeds for cheaper than getting 50mbs down was 5 years ago. Everything in my area now more efficiently runs the Google-driven ecosytem that runs many aspects of my life. So returning to the above. Ripple creates xCurrent and makes banks very aware of it, but it's largely FI's and more fringe banks that don't have massive systems just living and dependent upon tremendous legacy systems that can enact this technology first. This will allow these companies to compete with the larger more established institutions on price - ultimately - because the future end result of xCurrent + xRapid will allow these fringe entities to be more efficient and enjoy better margins while providing faster service. The banks must respond and we are seeing that already. In response, Swift creates GPI which - as it turns out - can interface with Corda which uses XRP as its native settlement mechanism. This is what I have observed and it's entirely consistent - as best I can tell - with the former employee's explanation. I am certainly over-simplifying a number of things here.
  8. I'm really taken aback by your calm and rational response to the suggestion that we won't all be billionaires overnight.
  9. Maybe my response is missing the point of your question. Are you suggesting that maybe there's more friendliness between Ripple and XLM than has been publicly indicated? I have speculated - with my tinfoil hat on - that it's possible they are much more in collusion than they would have us believe.
  10. I don't think it's weird at all. What I do think is weird is how - in virtually everything these days - people are expected to pick one, singular side which then supposedly means you have to now have an enemy as well. In my experience, people who are not split like this and who can see two differing sides of a matter tend to be some of the most effective people in various ways and those who get entrenched in certain positions - in a very "us versus them" or "this one way is the only way" sort of way - are the least effective. XLM is a source code fork of XRP. They've pursued a different strategy but in many ways they are very, very similar. McCaleb is purported to be problematic and I tend to think the comments that indicate as such are accurate, but there is no way I can be sure of that or anyone outside of those folks directly involved. The guy founded Ripple, so lets give him some credit even if he's a problem interpersonally and strategically. I can tell you one thing: while I do not have massive trepidation - or any trepidation, really, anymore - as to XRP being labeled as a security, if it were to be labeled as such and XLM were to be able to avoid it because the Stellar Foundation is a non-profit, then I would be rather impressed with them, albeit quite upset since I don't hold XLM. I hold largely XRP. My bet is on XRP. But that doesn't make me anti-XLM. So weird, no. Uncommon, yes. But I wish it weren't so uncommon.
  11. I hold a substantial amount of XRP, so I am very, very open to the scenario you outline. I would more than welcome it. But as far as where I am, I see XRP as a bridge currency and not one to replace fiat... at least not right now. And the original poster asked about if whether or not we would just need to build out an efficient payment system via DLT in order to speed things up. My position is that while this would definitely make things more efficient, it does nothing for settlement which is the real issue. And it's the issue for why Swift GPI is a step in the right direction but no competitor to an Xcurrent/Xrapid combo. Your scenario bypasses all of this and goes right to the world where businesses hold XRP themselves and transact directly. And I hope that comes to be. I will happily party with you in that world, as I will be sitting atop it.
  12. More to the point... you wrote: As related to what I wrote... I don't know if it's that simple. If have a complete system with bi-directional messaging, you certainly speed things up and you can make sure that the sender has the money and that their bank holds it... but it has to actually get there and be settled. So I think it may not be not as simple as just getting everyone on Xcurrent or similar. You need solutions like Xrapid or other novel manner of instant liquidity sourcing to settle. I just don't think domestic payments is going to be as aggressively pursued right now, again, because the pain - while great - is nothing as near as bad as trying to send money across the world. I would love to be wrong.
  13. To give perspective, I am a small business owner in the US and the nature of the company is one where outlaying significant amounts of money to make payroll a handful of days in advance creates massive cash flow hiccups. I have had to learn payments over the years as a result. I submit my own NACHA files to our bank for next-day or same day ACH in most cases for our employees (which in my case are actually several physician contractors getting paid a lot). I don't think DLT answers a major pain point in domestic payroll. Right now, we can cheaply do overnight and same-day payments via ACH. Now, that's not to say DLT-based messaging isn't better. It is... it's just that the improvement is from hours to minutes. I just fully understand why Ripple is focusing so much on cross-border payments. Domestic payments suck, but not nearly as hard as when you want to send money internationally. I do think that DLT + instant sourcing of liquidity via Xrapid will solve the problem that I outline below, by the way. I just think we're a bit of a ways for that, but I'll be the first to sign up for it. The issue I believe you are facing is a very common one. On the one hand, payroll done manually is a real PITA. It's not hard, but it's ripe for error and it's almost a no-brainer to outsource to a company like Gusto... in most cases. With my company, however, we pay contractors a lot of money well before we ever get reimbursed for their time. We get reimbursed their cost plus generally about a 50% margin. This is a standard staffing model. We are lucky to get paid within 30 days from our clients, so we outlay a lot and any additional days we have to go without getting paid is painful and often requires use of an RLOC or - even worse - me not paying myself on time. So with a payroll service like Gusto... in my situation, when they want the payroll amount 4-6 days in advance when your A/R is such that the 4-6 day time period will allow substantial additional amounts of revenue to be received, those 4-6 days become untenable. I need to move money overnight. With Gusto or similar, at first the money flows like this: your bank --> Gusto + 2-3 days to settle --> your employee. In time, once they trust you they become more willing to take on risk. So it goes like this: your bank --> Gusto | Prior to settlment, Central Bank --> Employee which cuts 4-6 days, down to 2-3... but still, since you're using an intermediary, the ability to send money as fast as you'd like is lost. You need to be able to send money directly to an individual. My point is that the messaging is not the problem... trust and settlement are. The ability to settle quickly is the more crucial element. It's not lost on me that DLT or similar would be a prerequisite for use of something like X-rapid to settle... at least I would think. For me, even though its a huge PITA, my company does payroll manually with use of a crude but effective program which pays our contractors overnight and handles the quarterly and annual filings... it also pays our payroll taxes, but not until it's due. This gives us even more leeway over Gusto or other payroll service for our W2 employees because as a weekly depositor with Friday pay days, we don't have to deposit FICA until the following Wednesday. This might seem like not much, but every little bit helps when you're carefully managing cash flow in a strongly growing company. I just pounded this out, so I am sure it doesn't all make a lot of sense.
  14. I have a perspective on this to share. Real quick, though: Are you in the US? EDIT: I ask because while I think the underlying concepts are the same, ACH and that which is general used for payroll is a largely - I believe - American concept and I didn't want to opine accordingly without first knowing.
×
×
  • Create New...