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TaylorWarden

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    http://veripare.com

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  • Location
    Ontario, Canada
  • Occupation
    Software Developer
  • Country
    Canada
  • Ripple Address
    rJk73pvveHthA8EdQbvhrtiA5FTzppuyJM

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  1. I have operated precious metals Gateways in the past (from 2014-2021) and I never actually processed a single deposit or withdrawal of silver during that entire time. I did offer XAG IOUs though and users did purchase them and there was a market made in XAG/XRP for a while. IOUs were issued with photographic proof of acquisition, a minority of the XAG was held in my home office and the remainder was locked up in a security deposit box for safe keeping. If you are into physical silver then it is in my opinion that you're going to come out on top of this generational wealth transfer. Silver is more rare than gold and the world has not caught up to this fact as of yet as silver has been trashed as an industrial metal for 150+ years. This is neither business nor investment advice. Do you own due diligence.
  2. Also: https://en.wikipedia.org/wiki/Federation_(information_technology) Email addresses are an example of something that is federated.
  3. The RCL used to have a basic PHP implementation of the federation protocol where you as a gateway operator could add username@yourgatewaydomain.com to point towards a Ripple address. Modified versions of this federation system allowed for the creation of the Bitcoin bridge. The FinCEN fine in 2014 did not affect the federation implementations.
  4. What the hell? Why is there no scrutiny and harrassment of the OP of this thread like I got for mentioning aliens exist, have been to Earth, and are actively communicating with us? I remember getting it pretty bad on the official ripple forums and on XRPtalk for mentioning the works of Darryl Anka channeling an ET known as Bashar. Make it make sense
  5. The federation protocol they implemented was automated. They were not pushing BTC transactions manually.
  6. The Bridge worked by using federated addresses where the address was formed through your bitcoin receiver's address. You would paste the receiving BTC address into the To field in your ripple client an add @snapswap.us for example. SnapSwap would take the IOUs (or you could pay with XRP/another IOU if you were path-finding to their BTC IOUs) and deduct a small fee and the transaction fee. Their bitcoin node would then send the remaining amount as a payment to the address specified.
  7. I just received a reply from a representative at FINTRAC in regards to my last post/email to them.
  8. Here is my year in review for the performance of the Gateway. We have KYC'd one person foreign to Canada and granted them membership to the SOS Gateway. Shortly thereafter they registered they communicated that they were looking for an 'XRP Gateway.' We did post sell orders of XRP in exchange for our CAD IOUs but no Canadians registered with the Gateway and we did not have any CAD Sell orders for other IOUs from other Gateways or XRP itself. I was able to sell out our first position of silver before the price climbed above 30$CAD and we repurchased around the 28$ mark. We were selling silver on the XRPL for spot plus physical premium of approximately 6-7.50$. We did not make any sales of our XAG IOUs and I again sold the silver through private sales. Due to the lack of interest in our services over this past year, the team has come to the decision to end the business operations effective immediately. The corporation will still be retained by myself for future projects. I do not believe I will be operating an XRPL Gateway again. It has been a fun ~7 years of developing as a community Ripple developer and service provider. I have gained many skills and insights into various fields of study (mostly software development & human psychology when it comes to interacting with cryptocurrencies) and I have found many colleagues along the way in my business ventures and my first forary into creating FOSS through the Quick Gateway Kit project. As of this moment, I am still available for consultation about creating and operating an XRPL Gateway. Please feel free to get in contact with me through the appropriate channels. Cheers.
  9. I have wrote another follow-up email for clarification from FINTRAC:
  10. I am afraid that I believe that I am still obligated to file even if I am not the intermediary of performing the XRPL transaction. I believe if the issuance of an IOU that is considered 10K or greater that is traded because the beneficiary of that amount of IOUs changes to a new account, I would be obligated to file. If you trade >=10K with my market making account (which we do not have the means to fund to that level) then I would have to file. I would also have to file for any deposit or withdrawal transaction a user commits to the Ripple Gateway. I do not have customers performing these high volume trades with me. I will say that the greatest amount of funds deposited to a Gateway I have run in the past was 3000$ plus fee (to equal 3K IOUs issued) and the greatest withdrawal transaction I have performed to date would be approximately 3300$ and change.
  11. The way that I read it I believe that any trade that occurs on the ledger amounting to 10,000$CAD or more, even if I do not offer an XRPL client on my website (which I don't). I do have the option for segregated accounts when depositing numismatic precious metals but they are not hosted wallets in so much that there are dedicated, separate issuers for those kinds of IOUs and are created on a for customer basis. I think I will have to write back to this compliance officer today and ask for some further clarification.
  12. I finally received a reply to my earlier request for clarification. Here is the email that I received from FINTRAC: So I have received my answer and clarified my obligations as an MSB whenever the Decentralized Exchange is utilized to trade VC. These new requirements will require me to monitor for payments on every account that has a balance of at least 10,000$CAD so I can submit a LVCTR when a trade for large amounts of IOUs (VC as defined in the email) occurs. Please discuss.
  13. Still awaiting a reply but due to the long weekend I probably won't receive any word back from support until at least tomorrow. I wrote to Ripple Inc to ask if I can keep the domain registered and pointed at my github repo if I update the readme with multiple mentions that I am in no way affiliated with Ripple Inc. If that is not good enough, then I have asked that they please purchase the domain name from me for only what I paid this year for the renewal fees, which is less than 60$USD. I stated that I should be given just that much amount of respect since I have been a community developer and service provider for going on 6 years now (since the legal team would probably not be aware of this fact at all).
  14. Thanks for your comments on this situation everyone. I wrote to support@ripple.com yesterday and recevied the typical automated response. They probably won't get back to me in a while since it is Easter long weekend. I am hoping that this will be able to come to a reasonable and fair conclusion. I'm not too worried by it now but I was quite a bit frustrated yesterday.
  15. Hi guys, Over a year ago now, I registered one of these new top level domain names to link to my Quick Gateway Kit repository on GitHub. The name in question is ripplegateway.design. I thought it would be interesting to put in my social media profiles to link back to my work. At one point, I was thinking about creating a site where I would upload my latest CV and list prices for consultation and software development services, this never came to fruitition though. Today, I received this email from my domain registrar: My question is do you think that I was in the wrong for registering this domain name? There are a few Ripple Gateways that were allowed to be "grandfathered" into allowing to operate a domain name with "Ripple" in it (name rippleisrael and ripplesingapore). I'll have to unregister it and take the loss for the most recent renewal fee I paid for this domain name but oh well. I just wonder why I am just now getting contacted about this when I've had this domain name for well over a year now? Does anyone think this is weird (the timing, I mean) or is it just Ripple trying to F with me a little bit because they claim is causes "confusion among our client's customers"? Are their partners so dense that they cannot read that this is not an official Ripple repository? This is frustrating me quite a bit.
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