KarmaCoverage

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KarmaCoverage last won the day on August 3 2016

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  1. no, it is nuts. Have you seen what the sugar industry has done in FL? The farms just dump their fertilizer waste in the water way (I think), and then blame homeowners for having grass in their yard. This is after they lobby to be able to farm out the Everglades, which is one of the biggest waterways, both underground and above.
  2. https://fas.org/irp/nic/water.pdf ..2012 A lot of this has been anticipated. Not specifically Flint, although the issue has manifested there, and thankfully gotten some media play. The more serious folks take water the better. Great investment focus btw. I do believe that digital currencies will in some way, shape the resolution by accounting for, in a transparent way, whatever efforts are employed towards a solution. No reason we cant have a Flint Water Coin (I hate to use the word coin) which accounts for the water usage which resident's over pay (or dont) pay for because the water has lost it's utility value... cant drink it. IDK exactly how to apply the tech to the create a solution, but I do know that "money" does not exist. It is only a unit of measurement, a measure of value (like a gallon or meter, to volume or distance). Water has value hence can be measured in "money"... but as it's utility value decreases (ie: not drinkable grey, or black water) it's value also decreases, and I doubt the Flint Utility company has accounted for this loss in value. A digital currency could be a very cheap method of doing this accounting for them, publicly.
  3. If I could build KarmaCoverage it would be a series of RCL "Risk Ledgers", interconnected via ILP (had two F500 folks ask for a POC, but they want it for free). Each ledger would transparently hold escrowed funds against a stated risk like an auto accident or being forced to make an insurance claim. Ripple Inc would have nothing to do with our systems & servers, other than having developed RCL & ILP. We would not use the 'main net' RCL & it's XRP, other than for international payments where necessary. I have a list of use cases for RCL, it is a fun tool to think with.
  4. As a bridge currency XRP is great. With ILP the ability for XRP to be within 1-2 hops of any other ledger's currency (including existing bank ledgers) is improved. If RCL disrupts correspondent banking methods, banks will become more comfortable using the tech, and a domestic solution should be on the horizon. Other than folks I connect with online, nobody in the "real world" has a clue what is going on with distributed ledger tech. If you say, XRP, they think you mispronounced something. & Ripple is a Grateful Dead song.
  5. With ILP, the Fed has the option to run their own ledger system (which they already do) but have it inter-connect with Ripple and potentially other ledgers. I have my doubts that they would use RCL out of the box, or at all. My hunch is that a lot of RCL's features are not needed, there for some other leaner ledger design could be a better solution to the problem set. Like @faisalkhan says, 1. Mono-Currency & 2. Private or "Permissioned" ledger. It will be interesting to see if they go Distributed Ledger and have each of the regional banks participate, or if the cost of the decentralization to speed and tx throughput are to high. Personally I'd like to see some decenteralization, and there are only 12 regional feds, so I want to think that is attainable network size. I'll guess that Ripple Labs went to the Fed first, or recruited Kidd (maybe others) from the fed. Either way, there were people in Ripple Labs from the beginning who exhibited excellent understanding of the financial systems characteristics, and interconnectedness. At the end of the day, the Fed will need a 24 hr real time settlement system. It will be interesting to see if they create a single ledger for just the 12 regional Feds, and keep the participants restricted to Only Fed Banks. Then layer in another layer for "participating banks" (not sure the right word), similar to the banks who can currently access the Fed Window, or currently have access to Fedwire. Then the "participating banks" act as an insulation layer, and the banks can participate with Ripple's ledger for international payments, and possibly another RCL for domestic payments. This would keep the Fed's core ledger where the "real USD" is issued, insulated by 2 layers for all international & domestic payments.
  6. http://www.businessinsider.com/citi-invests-in-foreign-exchange-blockchain-startup-cobalt-dl-2016-12 I'm sure I just haven't been paying attention, but does anyone know about this one?
  7. This sounds like touting the benefits of a "market for float". I had a few conversations with a Capital Markets guy at KPMG. They seemed to be moving awfully slow, I offered to interview with them and he agreed but said the partners wanted to get their strategy identified first. We kept in touch for a half year, and the story "got to get our strategy identified" never progressed. Forgot about the guy, but maybe I should touch base. Looks like to me 2017 may be a year of increasing number of production roll outs.
  8. I would tend to view this as another example of "developing countries" leap froging "advanced economies" uptake of new technology. In the say way many skipped the step of putting wires in the ground, and leapfroged straight to wireless mobile telecom. Good to see the first central bank move forward, but as @Hodor said, if this is just another centralized system, it is not as big of a step. If it is centralized & ILP comparable, then that is not so bad. At least improves interoperability, and centeralized systems can provide advantages, look at Mpesa.
  9. http://hub.digitalasset.com/blog/fireside-chat-with-dtcc-and-blythe-masters-remarks
  10. One of Bernard Lietaer's main points is that if govt/irs would accept payment of taxes in "complementary currencies" it would help improve the sustainability of monetary systems. There was also that start up in the beginning that was focused on tax related stuff and accounting for RCL transactions. Anyone know what happened to them?
  11. Just keep your eye on the insurance industry. P2P should ruffle a few feathers when done right. This will happen before 2020. I can hear the insurance industry now, "Nobody asked for a more capital efficient service". Really guys, so all those customers just love paying extra money into insurance and getting nothing more for having done so. ok, got it. It stuns me industry after industry how they blunder through adoption cycles of new tech. Most of the time claiming, "there was no way we could have seen this coming", and other BS like "if it aint broke dont fix it." Which is like saying "if we can do better for the customer, just dont." I cant wrap my head around this approach. Good luck SWIFT, you have got the winning attitude there champ.
  12. @Hodor thanks for the links! Wow! it never stops, this is crazy. I only skimmed the SEC link and two things stick out. 1. This fraud is ridiculous, straight up broker fraud. You cant just refuse to let a customer cash out, steal their identity, and then make the software display winning trades as losing trades! WTF. 2. This has nothing to do with binary options, just an unfortunate situation where the online brokers (may not even be licensed brokers) who are serving the binary market are shisters. This is probably because like penny stocks there is not enough market activity to attract the bigger brokers. Appears that binary options are getting the bad reputation, when in reality it is like a Gateway doing all this fraud, and then saying "oh RCL is bad".... when RCL has nothing to do with the fact that the Gateway refused to cash out users, stole their identity, and mis-represented trades. From the SEC link.
  13. Why do you say that? As far as I know there is nothing wrong with binarys. They provide another option (no pun intended) for hedging strategies, and other risk management stuff. I've never traded them, but they are an interesting. imaging selling covered calls, and buying a binary to call at the same strike. You would have to see if the premium from the covered calls would pay for the binary premium but if it did, you have a potentially very low risk trade.
  14. @mDuo13 Unless there has been new stuff published in the last 6 months, I believe that I have reviewed all the material on Quality (in/out) but something is still not quite concrete in my mind. This is an important concept/topic, so is it possible for you guys to put up some material focused specifically on Quality, and the thinking about why it is an important metric and aspect of a TX, and then link over to the implementation materials?
  15. I actually like Augur, and adopted some of their business methods into KarmaCoverage. Not sure I buy the "prediction market" idea. What they are doing is simply binary options. 2nd binary option link