JASCoder

I've also seen others promote the school of thought that goes like this... New, "Ignorant Money" enters the sphere, and all of them have heard of Bitcoin. They look over the list of "coins" and see BTC really high in price, but see other "Bitcoins" much lower, and spread their money into them. Over time, some get educated, and migrate out to other alts. Never underestimate the power of the stupid.

ODL is a fascinating system, the more I research and observe its behaviors, the more intriguing I find it. The BS->Bitso corridor is operating more like a hose of finite capacity, striving to move a surplus of water from one pool to the other. Not by using different sized buckets to move quantities from one to the other (1 to 1 correlated transfers), but a constant flow like a syphon from a spring fed pool to the bath houses in the city, where the water gets splashed down the drains and evaporated, constantly needing replenishment from the syphon's hose from the spring. MGI (apparently) randomly transfers various sized deposits of USD fiat into their Ripple Net account at the point of origin, and then MGI receives transfers of MXN fiat into their accounts in Mexico. As you can see in the hourly volume metrics reported by Bitso, we note an obvious pattern: A fairly constant level of trades is maintained 24/7 until a weekend (or holidays) hits. Note over the last four months, this average rate as been slowing rising. I wrote a solver script to pull both order books from the respective APIs, and compute the market costs of various sized trades. Then I observed the range at which these trades matched up with the logged volumes. The "pain point" at which ODL appears to be sensitive to is around 0.8% slippage. I have actually seen the costs range for $10k amounts as low as zero percent (!!) to around 1.2%. The general average recently has been around 0.4% (and for large amounts like $100/200k lately I'm seeing at 1.0 and 2.2 %). As for the arbitrage re-balancing rates, I've seen it recover fairly fast - like in under ten minutes - going from 1.8% after closing some trades back down under 0.8% by the next ten minute polled sample. Currently, the published order book of the Bitso bids has been maintaining a cap at around $200k USD. I suspect the core limiting factor holding back volume growth is the rate at which Ripple Net's market makers are able to get MXN fiat into their Bitso account. The Pesos are "evaporating" from the bath houses in Mexico, leaving the system, constantly needing replenishment. What is left behind are surpluses of zerps, with its attendant price dampening pressure. I'd really love to know what the deployed mechanism is for managing cost overhead for reducing these XRP surplus at Bitso and restoring MXN fiat balances (do they use SWIFT??). That there, must be the Secret Sauce Note: I am archiving the solver's sample data, and plan to chart that for future review and analysis.

What's also most interesting, is take a view at Bitstamp's XRP volume levels (like via Trading View). If you scroll back from now to 06JAN 08:30 you will see quite the astounding change in the previous nearly anemic levels.

Regarding ODL resulting in upwards price pressure, Galgitron says he's attempted to address this in the following two posts: http://galgitron.net/Post/How-xRapid-Worksand-Doesnt http://galgitron.net/Post/Is-XRP-Too-Fast-to-Be-Worth-Anything Hope that's helpful...

I find it fascinating SBI appears to share your sentiment. Ripple stakeholder Japanese bank consortium SBI is opening up a giant BTC mining farm in Texas. They've a goal to manage 30% of the network’s hash rate, their stated goal to bring more stability and institutional confidence into the Crypto space overall. Crypto Eri covered this news in her video yesterday. The crypto space’s reliance on BTC kind of reminds me of how the early Internet was hugely dependent upon the unix servers made by Sun Microsystems (now defunct).

http://galgitron.net/Post/The-Case-for-XRP Very thorough piece posted today from the universally popular Galgitron. And only uses the word **** once lol. I like his analogy with the concept of the gravity of value, eventually winning the day. The BTC Maxies will will all collectively be triggered into fits, which is always fun.

And @Sharkey - Nice to see fellow players here. Given our proclivities to gamble in Cryptos, it should be no surprise ! Was in Vegas myself over the holidays, earning a Xmas eve score at Aria (2nd after an epic hour long heads up battle to a most worthy opponent I'd nearly KOd at 5-handed, arg!).

Also, fwiw, if you are desirous of minting a "vanity wallet" - specifically a public key starting or ending with a custom pattern - Wietse Wind's GitHub account has a repo for this, it contains all you need. His instructions are easy to follow, for both Windows and Macintosh. Definately run it offline, and secure the generated private keys before re-connecting to the Internet. You can run it in multiple consoles to speed up the hunt, just don't overload your CPUs. Just be mindful that for every additional character in your pattern, it's exponentially slower.

In viewing the two order books right now, Bitso is just under $200k in bids, whilst BS has $700k in the actionable price range. This must be what's constraining them from amping up the ODL usage. I'm betting we'll be seeing this improve in the coming weeks. MGI must be chomping at the bit ! And happy new year Tiny

Howdy Hack, and welcome to XRP Chat (I've only been here a few months myself). I'm a long time Dev, and have been recently "mastering" WP lately (I've a free plugin on GitHub), and currently I'm trying to keep up with what all has been evolving in the crypto IT side of things - as this is absolutely the future of e-commerce ! There was some company's leader I saw quote earlier this year (2019) about a missing capability with XRPL that needed creating (or they were planning to pursue it), I want to say it was Coil, but maybe not; the missing solution they described was for providing a mechanism to enabled authorized 3rd party transfers on demand. IIRC, the concept goes like this: Pre-determined amounts of XRP in the payor's account (XRPL) are designated as "pre-authorized," to be auto transferred to a specified recipient account upon receiving a request from an authoritative payee (like a signed message). There's numerous ways this could be implemented; the objective is to emulate the capabilities that credit cards can do for recurring billing (like auto-renew subscriptions, etc). Right now I'm wrapping up some ODL visualization PHP scripts with WP for a hobby project (see Bitso thread for more info) and a few small freelance contracts. Once I'm done there, I'm planning to pursue learning more about exactly the scope of use cases your post describes. Already I know there is a Woo Com. plugin for taking XRP, which will prolly be the first thing I dive into then Good luck with your project, please do keep us posted here on your discoveries, progress, and frustrations. If I stumble upon anything relevant I'll drop another post here as well. Cheers m8

Holy crapballs Batman, check out the recent Bitso volume !! Another new ATH daily, and highest hourly levels too. granted it's prolly a side effect of the global holidays, but still interesting... (I'd post the two charts, except I've only my iPad right now, and the feature fails on this device. Someone pls feel free to click the download links and post them for posterity if you could). https://wp.www-net.com/xrp2mxn-demo-test-page-01/ edit to add: also the $10k transfer's spread is only 0.5% as well ! ODL is humming along nicely, ladies and gents.

These hyper specific retorts that ignore the remaining key supporting points are just hilarious. I thot is forum wasn't toxic like Reddit. Where's the ignore button ?

There was a third co-founder in Apple. He sold his 10% early and bought a new car. At least wait until there's bad news with XRP adoption progress. rewiring the global financial system takes a bit longer to effect than the 3-4 years they've been at it. The pain of remorse if you dump now and are later proved wrong will be untenable.

The last four hours really shot up, see the hourly volume chart here: https://wp.www-net.com/xrp2mxn-demo-test-page-01/ also, the spread on 10k USD transfer is a low .5% right now. Last thanksgiving holiday we saw low metrics as well

At best, the 50b in escrow is an unproven speculative asset, much like owned gold ore reserves residing underground; so it shouldn't be assessed at 100% of current market valuations. Which leaves room for a portion of the $10b to be ascribed to Ripple's other assets, both tangible and intangible.