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jn_r

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  1. Thanks. It is still confusing but also fascinating to see how it could work with stablecoins based on crypto-collateral (you should read up on Celo, they make it even more complicated combining it with AMM). I haven't had time to shift through the rest of the posts, but will start now ..
  2. I see another caveat, say e.g. the MM at exchange B wants to create xMXN. he then collaterizes with 200% in XRP. But when he trades the xMXN it comes in the end in the hands of the beneficiary bank. The consequence is that neither MM nor the beneficiary bank can unwind the the collateral. The bank could take over the collateral by sending 200% XRP to the MM and receive ownership of the collateral in return. He would then end up with xMXN and the collateral. He could unwind it now and would receive the XRP back, but the xMXN would also be gone. So, not that it is necessary to be done, but it is
  3. There is a lot of posts already and I needed time to digest only the first post, therefor sorry if I repeat things already mentioned. First of all, a nice out of the box thinking, might have potential :-) The things I see are: Oracles. For the stablecoin solution from D. Schwarz you need oracles, one for USD/XRP price and one for MXN/XRP. In the whole solution that is the most centralized part, just thought it should be mentioned. xUSD != USD. Even with 200% collateral, there still is a small risk that make the synthetic more riskier than the native coin. Although a xUSD/USD marke
  4. It looks tempting to store dormant XRP at a company like Celsius Network, but what I am always wondering with these newish companies, how do they handle legal stuff like the handling of what if you die in an accident or whatever. Normally you would have an executor of will, would Celsius Network comply with this executor and release funds to your heirs? Was that by chance also asked during the AMA?
  5. "All the world's a stage, And all the men and women merely players". What a nice and sympathetic guy :-)
  6. If you swap $100 USD then how is that changed into GBP, does bank B have to make the exchange himself from USD to GBP? And if that is the case, how would that create GBP liquidity? I think for a better understanding an overview of the changes in balancesheet (asset/liability) would help, I do not have a clear picture.
  7. The thing is, somebody has to trade currency X for currency Y. Who will that be? It can not be nobody. If two banks exchange, then one bank gets the other's foreign currency. It is not magically changed from USD to GBP. Also central banks must cooperate to allow RTGS to create a "synthetic central bank money" if I understand correct. And the receiving side then receives this synthetic CB Money (?). Maybe someone could explain better? I just watched the video and this is what I could make of it, probably not entirely correct
  8. That's a valid + for Ripple I would think. Otherwise each Central Bank has to trust the other Central Bank. It is not for nothing that the Dollar is currently the reserve currency that everybody accepts
  9. That's the question. Apparently they also include Central Banks. And let that be the place where final settlement takes place ..
  10. Yes I think it makes more sense that a MM operates only on one exchange and on single XRP-Fiat pairs. Then you would have the most 'generic' building blocks that can be used in any chain (multi-hop). In that case MM does run market risk on XRP. Which does not have to be bad, I suppose he can cover in other ways the XRP market risk if he wants.
  11. The 5 steps are agreed in advance. MGI agrees with the customer how much USD it will transfer and how much MXN is received on the other side. MGI also received from the MM an agreed price of XRP in USD and in MXN. If the customer agrees, then you set the wheels in motion. At point 2 the MM needs XRP, at point 4 the MM needs MXN. If the MM doesn't want exposure to XRP volatility, he borrows it. The amounts of XRP needed at step 2 and step 4 are exactly the same. In step 2 the XRP is traded with the client (actually MGI, but for the sake of clarity lets just say the client). So the cl
  12. Actually, if you refer to the ETH mentions in the link from my previous post, they are part of a Uniswap pair. Uniswap is a so called AMM (Automated Market Maker) running on the Ethereum chain. The pair ETH-UMA is locked in a smart contract. It creates liquidity and anyone can use the liquidity to swap ETH for UMA or vice versa. Really interesting protocol. Uniswap had pretty deep liquidity pools and is *big* in Ethereum DeFi land. But then suddenly 5 days ago came Sushiswap. Sushiswap cloned Uniswap, adds a governance token (Sushi) which you can earn by staking and they are now staking
  13. It is the native coin of some obscure blockchain called Ethereum?
  14. I started building bots in bash. They did what they had to do, but at some point it just got too crazy. Learning and using a programming language was the more responsible thing to do. Now happily coding in NodeJs :-)
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