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mrak

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Everything posted by mrak

  1. What every happened to David Schwartz's proposal to create an XRP-collateralized stablecoin? Of course, this could be done using Flare https://blog.flare.xyz/closing-the-circle-on-xrp-flare-interoperability/ But I would much rather see this built in to the XRPL and not outsourced to some interoperable side chain.
  2. My vote is for this * XRP is not a security, but Ripple is selling it as if it were.
  3. Can someone who is a native English speaker tell me what tense this is? Not being able to speak English well, I thought that this might have already happened, but when I checked the relevant market capitalizations, it still appears that XRP is greater than XLM by about a factor of two.
  4. This is depressing. Not that XRP is not going up in value with the rest of the cryptocurrencies, but that Litecoin is still a thing. Ok. I'm going to cool it on my hatred of Litecoin and do some research to see if they have innovated at all since launch. For the longest time, the main difference (wrt bitcoin) was the proof-of-work algorithm and a slightly quicker block chain confirmation: Maybe they have done something novel since the old "silver to bitcoin gold" days???
  5. Does anyone have any experience with how accurately these IOU prices will reflect the actual FLR price when it is launched? The price at Giottus (and Indian exchange that I never heard of before) is quoting 0.33 USD, whereas Poloniex is an order of magnitude lower.
  6. Here is the relevant information from the document.
  7. Explain how burning unused XRP (presently in escrow) would affect liquidity. Burning this unused XRP won't even affect the price (consult Stellar). Perhaps give me the equation concerning the divisibility problem you are referring to.
  8. This would have zero impact on price. Stellar burned all their tokens a long time ago, with zero consequences on price. https://cointelegraph.com/news/stellar-burns-over-55-billion-tokens-worth-47-billion-usd However, if Ripple would have burned their XRP too, as many of us have been urging since it was created, do you think the SEC would have started this lawsuit? Of course not. Ripple owns half of the XRP in existence, and they sell them to fund their operations. The games they play with escrow are simply that: games. The net effect is that they still have access to them and can sell th
  9. I'm really happy to finally see this. Many in the XRP community have been complaining about the large amounts of XRP that are owned by Ripple and the founders for many years. In fact, I would say that this is the original sin that is at the origin of all animosity directed towards XRP. My hope is that Ripple gets a big fine, and that as part of the settlement, they agree to burn 100% of the XRP currently in escrow.
  10. He's toxic and never has any useful insight. Just put him on your ignore list. My advice wasn't specifically for him, but rather people that are in a similar position. There is a correct way of withdrawing large amounts of money from a windfall, and the OP's approach won't work.
  11. Let me give you some advice: 1. Banks suck, but you are using their services. So suck it up, and play by their rules. If you really hate fiat, don't cash out and don't use it! 2. Banks have KYC/AML rules, so understand that if you say "I have untraceable money that I would like to cash out in your bank", they are going to say F U. 3. If you aren't honest, and then make a transfer of 10k-1M USD, it will be flagged. Worst case, they freeze your funds. Best case, they simply reject the transfer. 4. If you make 100-1000x profit, be legit. Declare your gains and pay the taxes. B
  12. I suspect that this is probably what is going on. However, not working in this field, I have a naive question: Is it normal for a company like Ripple to pay Market Makers to provide liquidity? I would just have assumed that the market makers would do this without incentive because it is profitable for them. I can understand that there might be one-time costs associated with transitioning to a new platform, and that an initial one-time incentive might be required. But, if after 6 months, the MM left because their contract was up, this seems to suggest that it is not profitable to continue
  13. There are two answers to this question. Can you move around XRP so that it is "impossible" to link ownership of address A to address B? Depending on your threat level, as noted above, probably. There are several ways of doing this, including transferring your XRP to an exchange and withdrawing them to another address, converting them to other tokens on another exchange, using mixers, zcash, zcoin, trading off ledger with friends, and repeat. When you have your XRP in a "clean" address, can you come up with story as to how you acquired them? As soon as you want to use your cryptocurre
  14. But is it technically possible NOW?
  15. It's my understanding that these ODL transactions at Bitstamp involve EUR>XRP and then XRP>USD. The XRP are not sent across the XRP ledger as they are traded in house on the same exchange. However, I have a question: In principle, could these ODL transactions use Bitstamp's EUR/USD market, and bypass XRP altogether? Most crypto exchanges don't have fiat/fiat pairs, but Bitstamp does. There is very little liquidity on the EUR/USD pair, but this could change in the future.
  16. One topic that isn't in this list are improvements for user privacy. In particular, it would be nice to be able to move from pseudonymity to true anonymity if one needed to. The easiest way to do this would be to implement ZeroCoin on the XRP ledger, where the anonymity set corresponds to the total number of zerocoins. I believe that this has been implemented on Ethereum, but I haven't tested it. Most other forms of proposed anonymity are weaker. Here are two use case scenarios: 1. Lets say you have a "work" account where you get paid in XRP, and that you would like to transfer this
  17. So what is the status on coding this up and testing? Is this simply a proposal, or is it something we can expect to go live in 6 months?
  18. Well, that is an odd design choice.... In any case, the numbers still don't add up: If I sum the number of payments made between 2019-6-4 and 2019-6-10 I get 319,500. However, if you look at the weekly transactions by type chart, there are 517,266 payments for the week ending on 2019-6-10. Also, if you were to sum all the transactions for a week long period 2019-6-4 to 2019-6-10 you get 6,291,836 transactions, but the weekly chart by type lists 1,911,670, which is off by a factor of 3. Still confused.
  19. I think that a lot of you have probably seen the recent spikes in XRP payments on the xrpcharts: https://xrpcharts.ripple.com/#/metrics I've been trying to figure out what is going on, but it became clear that I actually don't understand what data are being plotted here. If you look at the first chart on the page for the number of transactions on 2019-6-10, you see that the number is about 770,000. If you look at the number of payments on this day the number is about 64,000. If you scroll down to transactions by type, the number of payments is about an order of magnitud
  20. Is your Ripple wallet passphrase the same as your Gatehub login password? I am pretty confident that the two are different. When I imported my Ripple Trade wallet that was already encrypted, I do not recall them asking me to decrypt it, and then re-encrypt it with my Gatehub password (perhaps I am wrong).
  21. For those of you who were hacked: Could you let us know the characteristics of your Ripple wallet passphrase? (Like length and whether it might be in a password dictionary?). As far as I understand, the wallet passphrase is not the same thing as your Gatehub login (I am not about to log in to their site now to check this....)
  22. It seems pretty obvious to me that this is all a problem related to weak passwords. When I created my first wallet with Ripple trade, the application generated a secret key, and then encrypted this with a password that I provided. Given that no one had access to my wallet file, this was very secure. Given that it was encrypted, if someone got ahold of my computer and found the wallet file, I would still be protected, given that my password was 30 characters long and impossible to brute force. Then, Ripple asked us to move our wallets to Gatehub since they were no longer going to supp
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