Jump to content


  • Content Count

  • Joined

  • Last visited

1 Follower

About Mitty

  • Rank

Recent Profile Visitors

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

  1. Cred released 175 million of their LBA that was not in circulation into circulation, ~2million USD, since my last post back in mid April. Cred also added two high-profile executives, Daniel Goldstein and Bethany De Lude, to its leadership team recently. Goldstein served as the vice president of digital engineering at Western Union. De Lude joined PricewaterhouseCoopers senior manager in the late 90s with nearly a decade of experience at the U.S. NSA. From 2010 until 2019, she had a leadership role at the Federal Judiciary where she worked on building a modernized security framework. I still have a a lot of catching up to do. There were a few wallet/exchange partnerships announced. current price: $0.0118 current CS: 838,749,675 (175 million up) (edit: left the old value in)
  2. another partnership: https://mycred.io/blog/bitpie-partnership-cred-financial-services/ XRP lending rates have dropped again by 1% now on 4%. current price: $0.00832 current CS: 663,749,675 (225k up)
  3. Fairly major announcement in regard to LBA and the CredEarn program. Cred is now offering daily compound interest. It still pays out at the end of a 6 month term. But the interest is calculated daily and goes back into the balance to earn more interest. If you are wanting to just set and forget for a few years then compound interest would be the way to go. https://mycred.io/blog/cred-daily-compound-interest/?utm_source=telegram&utm_medium=referral&utm_campaign=growth Another new ann that was just announced as well is the partnership with Huobi wallet. https://mycred.io/blog/huobi-wallet-announces-partnership-cred-lending-borrowing-services/ It looks like the XRP interest rate has dropped to 5% down from 6%. Not sure when this happened. But i think it was pretty recent. Also Creds latest AMA wrap up is out. https://mycred.io/blog/safety-and-security-during-times-of-uncertainty-recap/ The LBA price dropped as low as .73c at its lows a few days ago. The April the 1st pay out in LBA was at a rate of .8c. Anyone being paid out in LBA is growing their LBA stack a lot more than was planned although overall their LBA stack is well down in value. current price: $0.008130 current CS: 663,523,897 (unchanged)
  4. https://www.youtube.com/watch?v=6RTtJ1747X4&feature=youtu.be https://earn.mycred.io/dinwiddie https://spencerdinwiddie.com/ Nice endorsement. This should help spread Creds programs/LBA awareness. Looks like there was a small bounce but has since dropped back. Any other time in the last 6 months this may have had more of an impact. Still forward progress. current price: $0.0116 current CS: 663,523,897
  5. I'm not from the states so no.
  6. Like the rest of the market LBA has taken a beating over the last few weeks. The Coronavirus is having a major impact and it's only just starting. Stay safe and do not underestimate the seriousness of the issue, play your part and do what you must to limit the spread. It will save countless lives if everyone does what is being asked of them. LBA dipped below 1c again briefly and has had another 25mil added to its circulating supply. Dan Schatt put out a letter to reassure cred customers. https://mycred.io/blog/crypto-market-covid-concerns/ " Cred is prepared for extreme situations like the coronavirus (COVID-19) outbreak, including how it pertains to the services we provide for our customers and extended community. Cred’s business procedures address extreme circumstances such as COVID-19 and the measures that are being rapidly implemented. We are proud of Cred’s preparation and ability to operate the business soundly, regardless of the market direction." It was stated on Creds telegram that all lending platforms allow the pay out of interest in XRP except uphold which only allows USD or LBA currently. Cred Partners with "Edge Wallet" https://mycred.io/blog/cred-partners-blockchain-wallet-edge/ Another partner which is great. I do not know much about edge. If there are any forum members that have used edge or can comment on it that would be great. Of note MakerDAO the largest(i think) defi lending/borrowing system ran into major issues with this latest round of volatility "MakerDAO was undoubtedly the biggest loser on Thursday. An infrastructure error led to over $4 million being swooped up by a lurking bot-maker, leaving investors high and dry as their collateral was taken away. In response, the Maker community voted Friday to restructure certain risk measures." Will this make people less likely to use these decentralised systems and push them toward more centralised options like Creds? https://news.bitcoin.com/eth-price-dai-collateral-loans-makerdao/ The silver lining to the drastic drop is that for those of us that are being paid out in LBA we will be receiving a much larger(65%+) stack of LBA than we would of been expecting a week or so ago. current price: $0.0120 current CS: 663,523,897 (25mil added)
  7. Hi Nicolas, It looks like ODL is moving to the next stage with more corridors having been opened up. From utility scan we can see the following flows MXN-JPY / MXN-USD USD-PHP / USD-MXN/USD-JPY/USD-KRW THB-USD AUD-USD/AUD-PHP/AUD-KRW EUR-USD PHP-USD The new end points, being THB/JPY/KRW/EUR have all appeared previously but only once off or very rarely. Currently they are all very low volume sub 10k however they are all there together and being used for multiple transactions. Are any of the AUD out transfers to the new end points Flash FXs? It's great to see ODL seemingly functioning with out any issues considering the current price volatility we are seeing. Has this had any impact on your ODL experience? Thanks.
  8. https://www.flash-fx.com/blog/flashfx-beefs-up-management-team-ahead-of-key-capital-raising/ Congrats Nicolas.
  9. Cred has released its wrap up of the second AMA. Quite a bit of good info there. Some i have already posted. https://mycred.io/blog/february-ama-recap-top-10-highlights/ Hakernoon article regarding defi including cred. https://hackernoon.com/defi-in-2020-an-overview-of-crypto-finance-platforms-8nl832pw current price: $0.019 current CS: 638,523,897 (unchanged)
  10. Mpolnet, if you have an uphold account i would advise testing the waters with cred. Their rates are top rate and you can risk as little as you want just to test them out. If we have a bull run and all are holding a lot of money i don't think it hurts to spread your risk in regard to lending platforms. And if you have already tested it and comfortable with the platform it will take away a lot of the worry at that time.
  11. I'd be tempted to dump it all into LBA for the 10% and the potential upside. MC is so small. But its a risk compared to holding USD.
  12. The second AMA with Dan Schatt happened yesterday, This one had a bit more info that i found interesting compared to the last. Take aways below. --------------------------------------------------------------------------- USER: You wouldn't have any issue with an early adopter showing up and potentially chucking in 5000btc for 10%apr DS: Great question! We can put several hundred million dollars to work at these rates, and we are continuing to open up more capacity on an ongoing basis --------------------------------------------------------------------------- In regard to reinvesting interest payments directly back into the lending amount(not having to wait the ~15days to re-invest it). DS: Hi! Yes, this is annoying — we will be enabling re-investing of interest earnings over the next few weeks DS: Generally, over 80% of those who are using CredEarn are hodling well beyond the initial 6 month period, and re-enrolling, and we will plan to make it much easier for interest proceeds to be reinvested DS: This will be rolled out in phases — we’ll start with new, and then we’ll be able to accommodate existing, but upon re-enrollment, it will be possible --------------------------------------------------------------------------- USER: If participants in the cred earn program are being paid out their interest in LBA is this interest payment simply purchased at market rates on uphold etc or are coins being released from Creds LBA holdings to pay for the interest? DS: Great question. Every sweep period we have up to 30 different crypto and fiat assets coming in, and up to 30 different crypto and fiat assets going out (in the form of interest payments and principal payments). If we need to pay out more LBA than has come in, we will go into the market and purchase more. --------------------------------------------------------------------------- USER: How much boom could Cred endure before the model broke? If crypto was to 10x or 100x, in a couple of months. Do you have contingencies in place for this? in the past, sudden large crypto movements have wiped out lending ecosystems DS: The futures contracts on Bitmex and other highly liquid providers are solid, and require cash collateral. Aside from our 100% hedged position, we have reserves in place to support movements. We are not taking naked positions with respect to our hedging Interesting comment again Dan stating next month will be another big month for them "BTW - March will also be a terrific month! All I can hint at — we will have fantastic new functionality coming, and some really exciting partners we’ll announce!" I guess the litecoin foundation was one of the big Feb anns. And hopefully the interest reinvest mechanism also comes out in feb. Quote from Dan in the following article “It’s clear to us that customers have a tremendous appetite in passive earning on their crypto. We expect over the next two years, most custodial exchanges and wallets will offer passive earning opportunities, similar to the way banks operate today.” https://cointelegraph.com/news/institutions-eye-bitcoin-as-hedge-against-global-economic-volatility Is there anyone out there still sitting on the fence in regard to just picking up the 10k LBA for better lending rates? Cred seems to be growing and maturing nicely. Even if you are not willing to take the risk to lend your coins today what is the reason for not grabbing 10k LBA so if you do decide to lend you get the much better rates. Just wondering what peoples thoughts are around this? Thanks for reading all. And if you have questions regarding LBA/Cred please ask and i will do my best to answer/find the answers for you. current price: $0.0215 current CS: 638,523,897 (unchanged)
  13. Why would you want any of these things to happen? These guys created the XRPL and ILP, they are using the XRPL and ILP, in what world would someone expect them to take their hands off? I'm not going to use Microsoft windows until Microsoft open sources it and stops adding to the code base. Way to centralized for me and its a major problem.
  14. ODL is the Ripple corporations software process. Of course it is centralized. Why would anyone think its not?
  15. Well there goes our USD to USD cross border remittance corridor we were all banking on.
  • Create New...