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  1. KarmaCoverage

    DCG 0% Allocation of XRP

    There is a reason I turned down a meeting with DCG... He is making a lifetime bad mistake here. There is a good Mark Twain quote, that I still need to get printed and framed to send to the CEO if that insurance franchise company I wasted so much time with.. "Its not what you dont know that gets you in trouble, it's what you know for sure that just ain't so" ~ Mark Twain
  2. KarmaCoverage

    Recommendations regarding financial literacy?

    Investopedia is pretty good, if you are trying to get a CFA you will end up there. For personal finance, just learn how to read balance sheets, and think of yourself as a business, and manage your balance sheet. This video is not necessarily about Personal Financial literacy, but it is one of the best and most concise explanations of how the economy works, without missing some of the subtle interconnectedness .
  3. KarmaCoverage


    I liked the idea of Open Source Services, via Codius. Also his closing thought was interesting, about ILP moving both data & value... so why do we need a data only internet protocol?
  4. It is what it is. This is a microcosm. Congressman are like a horse, they are ment to be ridden by men, across land... that's it. Dont expect them to be like a Duck... that can walk on land, fly in the air, and swim in the water. We use a group of them for reasons... hoping some can walk, some can fly, and some can swim. Generally speaking, High expectations make poor travel partners. This holds true if you just fly somewhere and get off the plane and figure out (my favorite way to travel), or if you venture into the Crypto world, which is full of high expectations that will turn out hollow. It is what it is, and it's almost never what you want it to be.
  5. I have no idea what question was asked, because the guy in the background about had me on the floor laughing... The answer to this next guy's question.... Is to have an alternative to citizens being forced to transact 100% in bank deposits. The citizen should not be (by force of monopoly) required to hold or transact in bank deposits. Paper cash provides an alternative, and IMHO we need CBDC to replace cash and retain the existence of an alternative. Ironically, the witness answer to his question was given by Dr Garrett and was stated exactly prior to him asking his question..? ...and it stars our sleepy guy in the back ground for an intro. This exact topic of CBDC was discussed in this thread in pretty good detail just recently.
  6. I would not be surprised to see some trading volume rerouted from existing exchanges/cryptos/corridors, to go through RippleNet and/or XRPLedger once the new liquidity flows go live. The more flow, the faster the channel's depth is dug, thus liquidity flow becomes deeper sooner. Its a positive feedback loop, "liquidity begets liquidity".
  7. KarmaCoverage

    XRP and The Trillion Dollar SBI Forex Market.

    At first glance this will only stretch as deep as your liquidity is deep. But in reality, a payment path is only as fast as it's slowest hop... sort of like, a chain is only as strong as it's weakest link. There is additional risk in increasing the time which the liquidity is floated, and adding extra hops, (especially if they are as slow as btc's 30+ min) then you are increasing the TX costs. "Float" can be thought of as a loan, interest is charged across time, the more time, the more cost. I would guess that SBI would do a combo of "make a market" between XRP and each fiat, as well as btc/eth/etc to fiat, and also "host a market" for fiat to each crypto. With the difference being when they "make a market' they are selling their own liquidity, vs when they "host a market" they are acting like an exchange and letting traders trade their own liquidity. Given that XRPLedger is so much faster than other crypto ledgers, it is likely that it will be used to close out multi leg trades, and I remember some Ripple person saying as much a few months back. Even if SBI wanted to do multi-crypto-hop transactions (maybe for arbitrage?) they could issue btc/eth/etc on ledger, backed by the crypto deposits of their traders, and do a multi-hop TX all on XRPLedger through as many crypto currencies as they wish to string together. There used to be an arbitrage trade where you could get custody of an asset on one exchange faster than settling the asset on another, and you could make money on the time delay, having already seen where the price movement was on the faster exchange, and then doing a trade on the slower exchange. (trade out "exchange" for "crypto ledger" and you have the same idea.) The faster ledger/exchange becomes the base from which you trade... ultimately their own private corp ledger is the base which they judge their results and trade from.
  8. Interesting they first one is the being held under the Ag dept... I wonder if that leans more towards a "commodity" type designation? Like cattle, corn, etc Wonder if the Monetary Infrastructure stuff would be discussed in the FS hearing, or if that would be more "securities" designation stuff? Should be interesting, in any way.
  9. KarmaCoverage

    Geopolitics of XRP

    Cryptography provides the enforcement-ability... That is what is underlaying all Crypto- currency/assets/tokins The best thing about this, is nobody has to pay tax revenue to Math's IRS (Math does not have a functioning IRS, just fiy); and therefore a reduction of the need to spend non-existent tax revenue on an industrial military complex (which can't break the cryptography anyway)... can be enabled to unfold. Does that mean this will unfold? Hell Idk about all that, but I do know managers/CEOs who dont stay competitive, and choose to... "for strategic purposes" to continue running slower more expensive operations... Those CEOs, they dont last long.. the fight for survival is longer than the timeline of their strategy. Both their strategies and careers will get washed down stream for only the history books to care about.
  10. I think the Central Banks eclipse the SEC, as the SEC only has jurisdiction over "securities". Surely they work together, but the SEC is not the big guy in the room, those would be the Treasury & the Central Bank. Or maybe the IMF or BIS?
  11. KarmaCoverage

    Rabobank interested in Ripple

    Why do I seem to be remembering something about Rabobank from 5 years ago? Seems like I remember Fidor Bank and their "banking api" platform, that bank in the middle of America (Kansas?), and Earthport all starting to do Ripple stuff around the same time?
  12. KarmaCoverage

    Just how many people hold XRP?

    You can actually get them down to 19.whatever XRP
  13. KarmaCoverage


    "Forum FUD", is is no more significant than a fart in a hurricane. It may annoy someone, but it's not going to change the direction of the storm.
  14. KarmaCoverage

    European Central Bank publication

    Well, I think you did a pretty good job there. As far as my personal view on CBDC as an enabler of XRP as a international bridge currency, the crux of my understanding is that Bank Deposits are not acceptable for settlement due to the nature of the fractional reserve business model. Therefore; CBDC being directly backed by the CB and essentially a digital form of Paper Cash... would be acceptable for settlement... (which according to the Ripple folks, it is cheaper to fly paper cash around the world, than using SWIFT to settle up a transaction) This all has to happen at a 100% fully backed "Narrow Bank" because of collateralization issues inherent in "final" settlement. Any Exchange/Narrow Bank operating in the Crypto markets understands that their user balances must be 100% backed up by on-ledger digital assets. If you want to get a first hand sense for this final settlement issue, "send me 100 XRP and I will send you 200 XRP back" --- I see your point here, but I'm going to disagree and sort of give away a key conclusion in this article that I have yet to write about RippleNet / IoV ledger topology. The point is that the XRPLedger is functionally a Clearing House. The function of a clearing house being... I first tried to explain this Clearing House view of XRPLedger here... When a Clearing House is acting as a collective counterparty, it is functionally collateralizes the trading activity of the Clearing House. This is XRPLedger's role in an IoV/RippleNet. They prefer to call XRP a "bridge currency" though. Which really does not speak a full truth to XRPLedgers contribution to the solution, because "bridge currency" leaves out "how you are solving the Trust issue?".. that is at the heart of this decades long FX Clearing challenge. --- This CBDC plan reminded me of some of my old thoughts on how CBs would interact with and adopt Distributed Ledger tech into the system. Here is one old comment. This is old comment is still pretty much how I am seeing CBDC unfolding... but they have not let out any actual technical set up specs. Would be really interesting to know the details on how Japan used RCL domestically. (I added new comments for clarity) This more recent post has some good links to the BIS's work on "Reducing the risk of wholesale payments fraud related to endpoint security"
  15. KarmaCoverage

    European Central Bank publication

    I'm going to write up another thing to follow the xPool write up, focused on the RippleNet , IoV topology. I will also, or in the process of, I will create a graph / network topology chart that shows these interconnections, and the flows of value. I've been meaning to do this for some time now, sorry I have not cranked it out yet. Key to this whole situation is the idea of "final settlement", and digitization of that process. We need to enable M2M payments.