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  1. Like
    jn_r reacted to KarmaCoverage in Dollar SWAPs market during Corona   
    I keep seeing CB related talk pointing out that digital dollars/wallets would enable CBs to better inject liquidity into parts of the economy which private intermediaries are not well suited to connect CB stimulus.
    This is more about the CB to CB SWAPs, and euro dollar institutional level. I also keep seeing folks talking about the decline of the USD as the only global reserve.
    What is behind these moves? To understand recent events, it is important to consider both sides of the FX swap market – those wishing to obtain dollars and those willing to supply them. On the demand side, institutional investors (insurers, pension funds and other portfolio asset managers) play a key role. Such investors have obligations in domestic currency, but they hold a globally diversified portfolio, with a substantial portion denominated in the US dollar
    On the supply side, dollars are provided by banks and other financial intermediaries, who source their dollars in global capital markets. However, in the decade following the GFC, banks that provide such hedging services have become a smaller part of the overall financial system, reflecting narrowing lending margins due to low interest rates, as well as tighter regulation
  2. Like
    jn_r reacted to mDuo13 in Introducing XRP Ledger v1.5.0   
    XRP Ledger core server, rippled, v1.5.0 has been released!
    You can read the full v1.5.0 Release Announcement on the XRPL Blog.
    Also, we've published a whole bunch of changes to the documentation on xrpl.org, including:
    Known Amendments has the new protocol amendments listed and statuses updated: https://xrpl.org/known-amendments.html New fields in the response to the submit method: https://xrpl.org/submit.html#response-format server_info method updated with more recent examples and updated time fields: https://xrpl.org/server_info.html New manifest method: https://xrpl.org/manifest.html New validator_info method: https://xrpl.org/validator_info.html New fields in tx method providing for more robust Not Found errors: https://xrpl.org/tx.html#not-found-response Updated account_channels method to reflect bug fixes: https://xrpl.org/account_channels.html Instructions on how to enable the new gRPC API on your rippled server: https://xrpl.org/configure-grpc.html New warnings in API responses if your server is, or is about to be, amendment blocked: https://xrpl.org/response-formatting.html#api-warnings Request Formatting updated with better formatting and new API Versioning information: https://xrpl.org/request-formatting.html Other very minor cleanup and corrections Let me know if you have any questions or comments, and enjoy the new version!
  3. Like
    jn_r reacted to kanaas in XUMM Launch by Wietse Wind tomorrow   
    Here's the Link to the event ....
  4. Thanks
    jn_r got a reaction from Flintstone in Question about other coin   
    No it's not (yet). It's xx-coin from Elixxir (https://xx-coin.io/ / https://xx.network/), I personally think it's got some good potential.
    I also got some gold, for a longer time, since 2000 or something. But it was 'virtual' or 'Giraal' gold, existing only in my account at the bank. They had to stop this type of asset because it was no longer allowed by regulations. 1st April it will be definitely sold, so a week ago I bought some real physical gold (at https://www.amsterdamgold.com/). Seems I was just in time, as it is no longer possible. It's hard to purchase physical gold these days...
  5. Thanks
    jn_r reacted to Wandering_Dog in Liquidity, Liquidity, where for art thou??   
    Fed creates dollars for other CBs on its ledger. USDEUR example: ECB wants USD. The Fed creates an account, "ECB Account", and adds dollars to it. The ECB creates an account, "FED Account" and adds euros to it. 2 ledgers, 2 accounts, increase to USD and Eur reserves on both ledgers. Its a swap, so the initiating party pays an agreed interest rate in the currency borrowed when the position is unwound, 88 day maturity.  
  6. Like
    jn_r got a reaction from Rune66 in Liquidity, Liquidity, where for art thou??   
    I can't imagine people still want to hoard USD, while so incredibly much QE by the government(s) these days. I would say these are the last contractions of the USD as the world reserve currency, but that's probably overly dramatic and as usual will turn out to be not true  
  7. Like
    jn_r reacted to Wandering_Dog in Liquidity, Liquidity, where for art thou??   
    Off the top of my head: war. You close your business, you hide in a hole. The only problem is the financial system isn't shut, so I think the simplest analogy presented thus far that gets it right (from POS Summers) is that economic time has stopped but financial time is still running. The next analogy that best captures the situation is from Ackman yesterday, that a tsunami is coming, we are watching the water slowly recede, and in a few months all financial assets will be destroyed by the largest wave of defaults in history. The CB's will have is to backstop every asset on Earth, they will absorb the market. Unless, the gov's cut checks for everyone, but it may already be too late. Just FYI, the virus is not that bad (its bad if you're old)--what's bad is that payments have stopped, money markets have frozen, and we have created a large opaque out of reach section of the financial system that actually creates the majority of our money--all in order to circumvent 0% interest rates, which has created an ocean of complex instruments held by poorly connected balance sheets. So on top of a normal end of credit cycle liquidity crunch, you have a nightmarish behemoth of payment obligations spread out in a way that CBs can't get to as well as they normally could, compounded by B3, D-F etc restrictions on connecting balances sheets and short term funding. This is why with FX swap lines open, standing CP facility, QE and CB repo all going simultaneously, they still aren't getting cash to balance sheets that need it.   
    As you mention, this will be as bad and potentially worse than the great depression. The data is currently implying worse than 1929 wrt financial assets. Keep in mind we'll see all hotel on Earth bankrupt by the end of the month, all airlines, most restaurants, huge swaths of the service sector will disappear this month, as though they just got carpet bombed.  
  8. Like
    jn_r reacted to KarmaCoverage in Liquidity, Liquidity, where for art thou??   
    @Wandering_Dog nailed this one...
    The economy has been running like a camp fire with some idiot pouring gasoline on it. Sure it flamed up, but at 0% the gasoline is now empty.
    So we will watch as the gasoline burns off, and see if the fire is structurally bigger/hotter/better, or if it is just the same except for the fact that we are out of gasoline now?
    Frankly I'm surprised that it took so long for a correction to begin. Corona virus is just the excuse. The big boys have been slowly pulling out over the past 2 years.
    What is interesting about this virus situation, is that in contrast to the '08 financial crisis which was when the banking institutions that experienced a liquidity crisis, and we did TARP stimulus for "Wallstreet".
    With this virus and local businesses closing, we are going to see a liquidity crisis on "Mainstreet". Which is the reason I think people are floating (pun intended) the idea of giving every household $X000. Which would put the stimulus where the liquidity problems will be.
    @Wandering_Dog is there an historical comparison of a "Mainstreet liquidity crisis"? I'm thinking the great depression, but I dont know euro economic history well. By "Mainstreet" I mean households,  not SMEs. 
    I already know some servers and bartenders who are adding up how many months their savings can last. The biggest number I've heard is 3 months, the lowest is "I cant not work, I have to pay rent".
  9. Like
    jn_r reacted to KarmaCoverage in Xpring Open Payments   
    I read/skimmed the docs, and it looks good to me. This should allow apps like Uber/Airbnb to integrate with ILP, and therefore with a single coding effort, all ILP Connectors and any ledgers that the ILP Connectors support.
    On the very last page there is a flow for 3rd Party Payment Initiations like a Google or Apple Pay.
    This Open Payments initiative by Xpring should reduce the risk level of every investment they make, because each application startup will not have reinvent the "ILP integration wheel".
    The only thing that came to mind was, the idea that with Open Payments, two Exchanges could operate a Nostro/Vostro relationship directly, going around the XRPL... but they can do that already anyhow.
    All in all, this effort should speed up adoption and growth of the IoV, at both the application layer, and I'd also think it would also make it easier operating at the ILP Connector level. Once again, the Ripple folks have demonstrated superb strategy in choosing their initiatives.
  10. Like
    jn_r reacted to Truckdriver in David Schwartz Latest Video   
  11. Like
    jn_r got a reaction from Skippy in David Schwartz Stanford Blockchain 2020   
    I kinda agree that the correctness / validity of the network is sound and that there is no incentive from within the network to be gained by attacking the network.
    But considering the liveness of the network: An attacker can sabotage the network if he wants to. Reasons why to attack can be as simple as 'hate' (still some of that available in toxic blockchain universe), political (not in my country) or incentives from outside the network. DDOS-ing or sabotaging the network (disable >20% of the validators from the dUNL) could devalue the price of XRP, an event that can be made profitable in other ways outside the XRPLedger network.
    That said, an argument could be made that this 'liveness' issue can also be solved in others ways than an incentive model like POW or POS. If you are ok with
    - Ripple singlehandedly changing the d(ynamic)UNL such that >80% of the validators are available again
    - Allowing the network to be down for a longer period until all important nodes adjust themselves manually to another agreed upon UNL,
    then we're fine and we do not need incentives. But I think there is still room and need for improvement, so imo, argument made, but not conclusive.
  12. Like
    jn_r got a reaction from tulo in Why Checks Amendment haven't been enabled after a year?   
    A milestone has been reached in the formation of the de-facto default UNL. 
    The UNL consists now of 35 validators of which only 6 are owned by ripple. This is 17% of the validators, meaning Ripple no longer has veto on the amendment voting! 
    The new validators are:
    - digifin.uk
    - rippleitin.nz
    Below the complete list:
    UNL at https://vl.ripple.com: 01 - nHBtDzdRDykxiuv7uSMPTcGexNm879RUUz5GW4h1qgjbtyvWZ1LE => n9LCf7NtwcyXVc5fYB6UVByRoQZqJDhrMUoKnr3GQB6mFqpcmMzg => validator.ripple.com 02 - nHUzum747yqip3HWSgzSNHNMjmLUqhroNVWidSRTREswEVhKNQEM => n9KQRiTw9LnSsVN2tv4guAqQ2KKUYmxnhT48QU2bbx8KmFGaUxTd => validator.ripple.com 03 - nHUon2tpyJEHHYGmxqeGu37cvPYHzrMtUNQFVdCgGNvEkjmCpTqK => n9JebyUXwBa5GoYJQ6AbupoMKyE2zaiR3FTfDTMkxpMMv1KPmQEn => validator.ripple.com 04 - nHU2Y1mLGDvTbc2dpvpkQ16qdeTKv2aJwGJHFySSB9U3jkTmj4CA => n9K2FpCqZftM1xXXaWXFPVbEimLX6MEjrmQywfSutkdK1PRvqDb2 => validator.ripple.com 05 - nHDDasc9BHNB99PW8KUduS8Phqg8NPUmjufzMU6HGGDMUH2xNpPh => n9L2y9THhdubapafmt7b2TRuhRUfPf1anchmiFyFSKBiaK3BEAwY => validator.ripple.com 06 - nHUUrjuEMtvzzTsiW2xKinUt7Jd83QFqYgfy3Feb7Hq1EJyoxoSz => n9LLqqH1cVFPjEnQYFQ6DooxuhHPQxwXgMjDGrpJ6pb1WGDoi76Q => validator.ripple.com 07 - nHUkp7WhouVMobBUKGrV5FNqjsdD9zKP5jpGnnLLnYxUQSGAwrZ6 => n9MzwWa4dwdZkRzj6XmihBG4ymGtMPd12cLjfhKwx5Hoqeu6WEgy => validator1.worldlink-us.com 08 - nHU95JxeaHJoSdpE7R49Mxp4611Yk5yL9SGEc12UDJLr4oEUN4NT => n9JtY9MqUcwKWenHp8WoRobFRmB2mmBEJd1ruJmhKGKAwtFQkQjb => flagshipsolutionsgroup.com 09 - nHUCCckfXVBdoounaU7JVnfdPdMXEeetwH8VdCBXD996BaVZ8WdJ => n9KiJP9wcJheTs6187LB8SP6Pw1UghKUQLgq4RmMKheTzvVhmesM => ripple.telinduscloud.lu 10 - nHUFzgC9fDw2MEDaiv9JMdBFhtJ6DMKoUCpS8gPGi6tkfbqmTyis => n94RChC3yKSHyXUerLYE1sjm13eP7hucSNpoZZTVgq4UtAiZAcgP => www.bahnhof.se 11 - nHBidG3pZK11zQD6kpNDoAhDxH6WLGui6ZxSbUx7LSqLHsgzMPec => n9KaxgJv69FucW5kkiaMhCqS6sAR1wUVxpZaZmLGVXxAcAse9YhR => bitso.com 12 - nHBgiH2aih5JoaL3wbiiqSQfhrC21vJjxXoCoD2fuqcNbriXsfLm => n9KhsMP6jKFQPpjJ9VwqyZSwrL4shdX9YknRwmsAVL1RNVrx4jLm => www.attokyo.com 13 - nHUcNC5ni7XjVYfCMe38Rm3KQaq27jw7wJpcUYdo4miWwpNePRTw => n9LEDYRJMx23ikoZS6YefTPuvLzNh56nXqpsavakWi2FivUEAkaq => rabbitkick.club 14 - nHUXeusfwk61c4xJPneb9Lgy7Ga6DVaVLEyB29ftUdt9k2KxD6Hw => n9KHXifDfimGs2CREvbRrAfjnoWcwjMCC8u8KLRTtrRAYk1ktSxX => validator.xrptipbot.com 15 - nHUd8g4DWm6HgjGTjKKSfYiRyf8qCvEN1PXR7YDJ5QTFyAnZHkbW => n9KSXAVPy6ac8aX88fRsJN6eSrJ2gEfGrfskUVJJ7XkopGsKNg9X => brex.io 16 - nHB8QMKGt9VB4Vg71VszjBVQnDW3v3QudM4DwFaJfy96bj4Pv9fA => n9J2hKPRZ9bUmsBD6d1j16G2P1arMxfASgSKYpoK9dRpJEuD3Joz => bithomp.com 17 - nHDwHQGjKTz6R6pFigSSrNBrhNYyUGFPHA75HiTccTCQzuu9d7Za => n9KKQUgUwXAAh7LKKjQos85vr19EvWghM13oBXurpvmRgEPZJ7XE => coil.com 18 - nHUpJSKQTZdB1TDkbCREMuf8vEqFkk84BcvZDhsQsDufFDQVajam => n9LFSE8fQ6Ljnc97ToHVtv1sYZ3GpzrXKpT94eFDk8jtdbfoBe7N => data443.com 19 - nHUVPzAmAmQ2QSc4oE1iLfsGi17qN2ado8PhxvgEkou76FLxAz7C => n9J1GJHtua77TBEzir3FvsgWX68xBFeC8os3s5TkCg97E1cwxKfH => ripple.ittc.ku.edu 20 - nHUT6Xa588zawXVdP2xyYXc87LQFm8uV38CxsVzq2RoQJP8LXpJF => n9Lq9bekeVhCsW8dwqzfvKsqUiu9Qxvwk9YmF2hxkBJjNrGNL5Fw => blockchain.korea.ac.kr 21 - nHB5kpvUaEpvCtwu31fMf6dTuuCNnWRctWrV3UEZ9rbtPdpvbUvJ => n9MtAgMDVFxEgzYsmZKNBYS4vTx76xSSD78tFdZFcL27aeXeeECQ => ripple.ntt.com 22 - nHULqGBkJtWeNFjhTzYeAsHA3qKKS7HoBh8CV3BAGTGMZuepEhWC => n9MZ7EVGKypqdyNguP31xSqhFqDBF4V5FESLMmLiGrBJ3khP2AzQ => shadow.haas.berkeley.edu 23 - nHUfPizyJyhAJZzeq3duRVrZmsTZfcLn7yLF5s2adzHdcHMb9HmQ => n9M2anhK2HzFFiJZRoGKhyLpkh55ZdeWw8YyGgvkzY7AkBvz5Vyj => xrp.unic.ac.cy 24 - nHBSUZJnqK5BRu3bWAmebfkETNeEFmU7sm3DXzCuEYzRkAEdxuTy => n9MUYTDQbd5BqxRiU8JuYoDAD9Trjzvd9VWfVYadgwqmxREjvRe5 => validator.xrpchat.com 25 - nHUFE9prPXPrHcG3SkwP1UzAQbSphqyQkQK9ATXLZsfkezhhda3p => n9J67zk4B7GpbQV5jRQntbgdKf7TW6894QuG7qq1rE5gvjCu6snA => alloy.ee 26 - nHUFCyRCrUjvtZmKiLeF8ReopzKuUoKeDeXo3wEUBVSaawzcSBpW => n9Lqr4YZxk7WYRDTBZjjmoAraikLCjAgAswaPaZ6LaGW6Q4Y2eoo => ripple.kenan-flagler.unc.edu 27 - nHUnhRJK3csknycNK5SXRFi8jvDp3sKoWvS9wKWLq1ATBBGgPBjp => n9LbDLg9F7ExZCeMw1QZqsd1Ejs9uYpwd8bPUStF5hBJdd6B5aWj => peerisland.com 28 - nHDB2PAPYqF86j9j3c6w1F1ZqwvQfiWcFShZ9Pokg9q4ohNDSkAz => n94RJmUKMJHTmuXhNYsFUwje9a9hD3Rw3dESntBDeonJLCjAEbMZ => aloha.xrpscan.com 29 - nHDH7bQJpVfDhVSqdui3Z8GPvKEBQpo6AKHcnXe21zoD4nABA6xj => n9MSTcx1fmfyKpaDTtpXucugcqM7yxpaggmwRxcyA3Nr4pE1pN3x => ripplevalidator.uwaterloo.ca 30 - nHUpcmNsxAw47yt2ADDoNoQrzLyTJPgnyq16u6Qx2kRPA17oUNHz => n94D6X6oFGyuvWpSjGwv3rmGSPSi5gNEVCDwnEc8arLC6HnqfEhn => isrdc.in 31 - nHUryiyDqEtyWVtFG24AAhaYjMf9FRLietbGzviF3piJsMm9qyDR => n9KAE7DUEB62ZQ3yWzygKWWqsj7ZqchW5rXg63puZA46k7WzGfQu => www.bitrue.com 32 - nHUED59jjpQ5QbNhesXMhqii9gA8UfbBmv3i5StgyxG98qjsT4yn => n9KcVtcHZThHainPdHC7CkQKZMEVjAcRujV2CMKdKHk65Ewsawsu => crcm-xrp.blockdaemon.com 33 - nHDDE4Y3z5EE2VDDYrzheYQ4xC3F29SJsKT4dqhX4iyTLhuWgZnp => n9KXj6AkXsMiPKgTs6axKn93CVKDmLsPch8QFZNA9xsGkQo3w5bk => xrp.coinfield.com 34 - nHUvzia57LRXr9zqnYpyFUFeKvis2tqn4DkXBVGSppt5M4nNq43C => n9KNmrXo9gK3ucZy8KHKFM113ENGv6uyukS6Bb7TtuvEx98SdwMS => digifin.uk 35 - nHUcQnmEbCNq4uhntFudzfrZV8P5WLoBrR5h3R9jAd621Aaz1pSy => n9Jb7jTyvyDNm4oN5tEtQYorevWcPCaYuj6X81TzcNqHkuwtXatR => rippleitin.nz  
  13. Like
    jn_r reacted to LeonidasH in XRPL reaches new level of decentralization + amendments   
  14. Thanks
    jn_r got a reaction from NightJanitor in Three things Amazon stock can teach you about XRP   
    Both actions are 'market taking' and will enlarge the spread between buy and sell. If you sell at the initial exchange, it will be at the sell price and not at the 2 ticks up 'buy' price.
    So, imo your story would only work if (other) market makers would work to minimise the enlarged spread caused by the buying on the initial exchange (and then setting a price based on the median of the spread). 
    And on the other exchange the reverse would happen, so basically, in my view ODL would not directly lead to a higher price, just liquidity that leads to more liquidity.
    There is maybe the theory of Adam Smiths 'Invisible hand' but my interpretation of that is that in a competitive free market and good liquidity the price will reach its equilibrium. That does not say anything about the height of the price, but the price could rise because of its increased utility
  15. Like
    jn_r reacted to r0bertz in ripple-client-desktop ported to RippleAPI   
    Disclaimer: this work is provided "as-is" and is not endorsed by or affiliated with Ripple Inc. in anyway.

    If you want to try it, please try it with testnet account, account with small balances, small transaction size, in that order. Because even though there is no known bug to me, after all this is a one man job. There could be bugs that I haven't seen yet.

    To change server to testnet server, check "Online mode" under Network settings. Testnet server address can be found here https://xrpl.org/xrp-testnet-faucet.html. After changing server, please restart the client because server reconnection is not handled very well in ripple-lib.

    Note that it may take a short while for it to connect for the very first time.

    Here's my tip bot account if anyone feel like chipping in https://www.xrptipbot.com/u:r0bertz/n:twitter

    Some background information:
    RippleAPI was one of the APIs (the other one is core API) in ripple-lib before version 0.13.0 which was released in 2015 and has been the only API since 0.13.0.

    ripple-client-desktop was abandoned by Ripple Inc. in 2015. By the time it was abandoned, it could only work with core API.

    I started porting it to RippleAPI in late 2018.  The progress was recorded in this twitter thread: 
  16. Like
    jn_r reacted to Malloy in ripple-client-desktop ported to RippleAPI   
    Can't wait to see this...it's been sooooo long since we had news about a desktop client...completely ridiculous that Ripple's startup fund doesn't help here
    Just a reminder (to Ripple)
    "Xpring is a new initiative by Ripple that will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs. Every entrepreneur will use the digital asset XRP and the XRP Ledger, the open-sourced, decentralized technology behind XRP, to solve their customers’ problems in a transformative way."
  17. Like
  18. Like
    jn_r reacted to WrathofKahneman in The general Public and XRP ownership   
    The "gifting" of XRP can be legitimate; the founders gifted the XRP to the company they founded.  This is a legal matter, not a benevolent gift between friends.  It was a transmission of ownership not based on the profit of the transaction.  Whether or not it holds water in court has nothing to do with the perceived sincerity of the gift or it's worth, only the proper transmission of assets/IP to a company.
  19. Like
    jn_r reacted to xrpscan in XRPL Amendments dashboard   
    XRPL Amendments dashboard is now available:  https://xrpscan.com/amendments
    With this release we aim to provide greater transparency on Amendment voting numbers, super-majority status and Vote/Veto pattern by dUNL validators. Amendment voting status displayed here is based on the validations received during the latest voting round, as reported by our node. Feedback on what's broken, what can be improved is most welcome.

  20. Like
    jn_r reacted to PunishmentOfLuxury in Crypto Eri interviews FlashFX's Nicolas Steiger   
    Cannot summarize - still watching it myself. 
  21. Like
    jn_r got a reaction from Kumo in Other currencies on XRP-ledger   
    Scheetz has a Dutch 'ring' to it ... https://scheetz.io/
  22. Like
    jn_r got a reaction from XRPboi in Ripple's Xpring Holy Trinity   
    I'm curious to know their exact solution. Apparently they do something with MPC (Multi Parti Computation) where parts of the biometrics are stored encrypted over different nodes. By means of MPC the match can be proven without any node sharing its part, but only the computation on that part. So that is all nice, but still, the weak point IMO is the point where the biometrics is measured. Take e.g. a fingerprint, that is very hard to keep secret. You leave it literally everywhere behind. So it is really important to know how the liveness of the measured biometric can be assured
    ed. I found the paper :-) I'll give it a read
  23. Like
    jn_r got a reaction from XRPboi in Ripple's Xpring Holy Trinity   
    I have a bit of an issue with using biometrics for creating secrets. IMHO a biometric is per definition not secret and therefor cannot lead to a secret. You offer your biometric to a terminal to measure it and the terminal will compare with a biometric template which is bound to your identity. Meaning the terminal already has all the data it needs to reproduce that same biometric. And if one terminal can measure it, any terminal can measure it, so if my biometric produces a secret, any terminal can now also produce the secret. To cut short, biometrics are good for identification, but not for authentication.
    So why does it work on your mobile (fingerprint or facial recognition). In basics it still is used as identification, but the extra security what makes up for the authentication is the measurement of 'liveness' of the scanned biometric, and in that there is also no secret involved. You trust you own mobile device (something you have) and therefor trust its 'liveness' features and therefor to hold some or determine some of your value. But you cannot trust an unknown remote terminal.
  24. Thanks
    jn_r got a reaction from XRPboi in The impossibility of equality in an XRP settled world   
    I saw this talk at devcon5 (Ethereum conference) about debt-forgiveness and kinda reminded me of the @Wandering_Dog discussions. Below is a short summary
    And here the presentation if you have 20 minutes to spare:
  25. Thanks
    jn_r got a reaction from WillGetThere in The impossibility of equality in an XRP settled world   
    I saw this talk at devcon5 (Ethereum conference) about debt-forgiveness and kinda reminded me of the @Wandering_Dog discussions. Below is a short summary
    And here the presentation if you have 20 minutes to spare:
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