cmbartley

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cmbartley last won the day on February 20

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About cmbartley

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  1. @Max Entropy #4 is why I have a hard time seeing how the existing financial infrastructure will integrate with the open Ethereum platform. Private instantiations of Ethereum? Sure. But will they onramp their value onto public Ethereum? I find it hard to believe at this early stage, the attack surface for a Turing complete environment is too large. Not to mention that when you have value moving on the back of an asset that's also being used to pay for non-financial applications and other types of computational services, you're likely to get unexpected and unwanted dependencies. Ripple is tailor-made for value transfer. I'm not a financial guy nor a developer but the heuristics tell me it's a steep (and risky) hill to climb to for financial institutions to connect to public Ethereum.
  2. Facebook succeeded where MySpace failed in part because they built their technology around pre-existing networks. One existing financial network is the cryptoenthusiast network. Another is the established banking network. Another existing financial network is the P2P network. Another is the mobile payment network. Seems that Ripple can identify pain points for existing financial networks and deploy their technology to address those pain points. They've already got traction in the banking sector, the barrier to entry is much lower in the crypto sector. While crypto is small potatoes, it's a real world proof of principle with existing value. I'm sure you're all getting sick of of this, but I'd like to see an inter-exchange Ripple value transfer system. Happy to hear counterpoints. I'd be even happier to hear ideas that actually lead to value being added to RCL. I don't think the ability to pay retailers in XRP is going to cut it, there's no demand just as there wasn't for Bitcoin. Now if XRP could be leveraged in the background to facilitate near-realtime settlement for individual sellers, now you're talking; problem is that that solution needs to hook into the existing financial infrastructure which is happening but will take quite a bit of time.
  3. @BAX I think there are some problems with the dividend idea. The question is, do you want to promote adoption RCL or do you simply want to engage in short-term strategies to push the price up yet fail to grow the ecosystem? To me the goal should be to engage in behaviors that promote the use of RCL, the place where XRP lives. Expanse just launched their bond program and look how much it's done for them: http://bitcoinprbuzz.com/press-release-expanse-exp-bond/ Personally I think that RCL solves a problem that already exists for crypto enthusiasts on exchanges; getting money from one exchange to another. RCL is better positioned to perform this function due to the fast consensus time. Ethereum takes 20sec a round and you have to wait for multiple rounds. Not to mention that the token is not strictly a financial asset so various non-financial activity on Ethereum may ultimately affect the price of eth and derivative eth tokens for non-financial reasons. XRP is a financial asset whose price is driven by economic activity that settles in one 3.5second round. It should serve as an inter-exchange bridge with incentives paid to exchnages. A two-proned approach to market making.
  4. Yes, a wallet would be nice but I don't think that a wallet is going to attract many newcomers. There are plenty of fledgling coins with wallets. I'm not sure that a wallet would even significantly increase liquidity at this point given that there's not much one can do with XRP right now except to trade it for other speculative assets. If we want XRP to be useful now, Ripple should address the existing problems that XRP was meant to address. Serving as an inter-exchange value bridge would make XRP the first useful coin after BTC (and it's debatable whether BTC is even all that useful right now). BTC basically serves as a value entry point ot the crypto space, and it doesn't do it all that well because of the blockchain latency. Additionally, as an inter-exchange bridge Ripple wouldn't be responsible for nefarious behaviors as it is up to the exchanges to perform KYC. Again, I'd like to see a RippleInstant or RipplePay inter-exchange value transfer offering.
  5. I feel strongly about this. Ripple states that XRP is the best asset for cross-asset and cross-border value transfer. The crypto space can be a proving ground for this value proposition because we already have a diversity of exotic assets with very few paths between them. Sure, you could create complicated incentive programs for developers to build on top of RCL, but if RCL starts seeing increased volume because it's being used for instant value transfer between crypto exchanges then developers will naturally gravitate to RCL. You could create a wallet but we know that Ripple can't do that right now and what are you supposed to do with the XRP once you have them in your wallet? They don't have a purpose yet. Give XRP purpose but doing one thing and doing it well. So, I'd like for an instant transfer feature on all exchanges that routes value through XRP and back into whatever asset on the other side. Gatehub is starting to instantiate this to looks like (I can pay with one asset and the recipient will receive another). For example, if I have Golem (GNT) tokens on Liqui.io and I want to receive Factom (FCT) on Poloniex. I should be able to withdraw GNT from Liqui, have it routed through XRP, and back into FCT on Poloniex. That's a HUGE value proposition and only XRP and Stellar are really positioned to address this problem adequately given the low consensus time. It also allows users to unlock siloed value if that exchanges wallet goes down (Polo is constantly doing maintenance on various wallets). I already use XRP to transfer value between exchanges some times because it moves so quickly and I can't be plagued to deal with the problems due to the bloated mempool and transaction limit of the bitcoin blockchain. The problem is that not all exchanges take XRP and ultimately I still have to go convert through BTC because most tokens only trade against BTC. Scan reddit and bitcointalk and this is a pain point for EVERYONE. Even the bitcoinistas are complaining about the slow confirmation times and fees. This is a problem that I think XRP can solve and the incentive program could also go toward exchanges that integrate and support this feature (Ripple Pay). They're financial institutions as well right? This would naturally bring volume, would be simpler from a regulatory standpoint, and would test (and likely prove correct) the hypothesis that XRP is an excellent asset for value transfer (I'm assuming banks would like to see that). XRP is already on Bitstamp, Polo, Gatehub, and Kraken. These would be good places to start.
  6. https://www.nytimes.com/2017/02/22/business/dealbook/silicon-valley-tried-to-upend-banks-now-it-works-with-them.html
  7. According to Brian Deery, everything in Factom is covered by two hashes: "When I was designing the datastructures for factom. I knew that SHA1 had a theoretical vulnerability. It is not used anywhere in the factom system. I actually upped the paranoia level. everything in factom is covered by 2 hashes, making it exponentially more difficult, because to have fake data match the hash it would need to match two hashes. To have a fake directory block or fake Entry Block, you would need to make a fake PrevKeyMR and a fake PrevFullHash which both match the fake data. https://github.com/FactomProject/FactomDocs/blob/master/factomDataStructureDetails.md#directory-block https://github.com/FactomProject/FactomDocs/blob/master/factomDataStructureDetails.md#entry-block For Factoid Blocks, we had implemented SegWit when we launched. There are two merkle roots: PrevKeyMR and PrevLedgerKeyMR https://github.com/FactomProject/FactomDocs/blob/master/factomDataStructureDetails.md#factoid-block The Ledger Merkle Root does not contain the signatures in the calculation, so the transaction can be proved without having the signature. The Entries are only represented by a 32 byte number, but it is hashed by both SHA256 and then SHA512. https://github.com/FactomProject/FactomDocs/blob/master/factomDataStructureDetails.md#entry-hash note how the SHA256 digest is pre-pended to the Entry before being SHA512 hashed. This stops optimizations where the midstate is reused and only the last few letters of the Entry are changed. https://bitcointalk.org/index.php?topic=298966.0 To try a collision, a new SHA256 hash is generated (this can be midstate optimized) then the entire Entry needs to be SHA512 hashed and that can't be midstate optimized, because the first bytes of the SHA512 hash have just changed. All this to say, even if SHA256 or SHA512 were weakened, it would affect the factom blockchain less than other types of applications."
  8. I had this conversation with someone recently. Programmable money that interacts with product and service codes will allow for the development of currency that cannot be used to pay for certain goods or services. For example you could program money that cannot be redeemed for non Kosher food. Or parents could pay their kids allowance in units of currency that can't be used for Rated R movies, certain online activities, or alcohol or cigarettes. Individuals could decide to be paid in money with certain features that facilitate certain types of behaviors.
  9. Here's the StorJ sent out: Storj Labs Raises $3 Million in Seed Funding Dear Storj supporters, Today we are excited to celebrate an important milestone that supports future innovation for Storj. Storj Labs, the company that develops the open-source network software and provides easy to use tools for the Storj network, has raised $3 million in seed funding. Angel investors from venture capital firms Google Ventures, Qualcomm Ventures and Techstars, as well as industry leaders in the technology security space, including Cockroach Labs, Ionic Security, and Pindrop Security, are among the early backers. Data centers serve as cloud storage hubs for web service giants like Amazon, Microsoft, and Google. But data centers come with a high price tag for developers, providers and users, with an even higher cost associated with data failures and security breaches. From physical servers and networking equipment to other infrastructure demands like electricity, cloud service providers spend billions of dollars every quarter just to maintain or grow their service offerings. Storj Labs aims to disrupt traditional cloud storage by offering faster speeds, heightened security, better performance, and a more cost effective storage solution. Storj Labs provides easy to use tools so that any developer can use the Storj network, without having to be an expert in distributed networking or encryption. Ease of use allows us to get the Storj network into as many hands as possible without compromising the distributed and decentralized nature of the network. We have surpassed 15,000 API users who leverage the Storj network for secure and decentralized data storage. We are thankful for the continued support of the community, and can’t wait to show off all the new features we have been working on, made possible by this financing. You can read today’s announcement here. Interested in earning money for your extra hard drive space? Become a Storj farmer! For developers looking to join our technical community, we have resources and documentation to help you start contributing. We hope you’ll join us! Cheers, The Storj Team
  10. https://www.reddit.com/r/Bitcoin/comments/5vqd6k/sha1_collision_bounty_has_been_claimed/
  11. http://www.coindesk.com/blockchain-startup-storj-targets-enterprise-cloud-3-million-raise/
  12. 1. Currently they can buy from Ripple's XRP-II, https://genesistrading.com/digital-currency/, and presumably bitstamps fiat markets (although liquidity is super low right now).
  13. MIT on CBDBs: http://dci.mit.edu/ http://dci.mit.edu/assets/papers/15.998_central.pdf
  14. Ripple is not a disappointment, it's a shining star in this space. The price of XRP has been a disappointment. We'll see if that changes.
  15. @will4star for a token that's meant to serve as a bridge between assets, the lower the settlement time, the more profit market makers can make off of high-volume thight spreads. The more transactions you can facilitate/unit time, the more your profit.