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KarmaCoverage

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Everything posted by KarmaCoverage

  1. Fun fact Assuming BTC hits an all time high of $25,000... XRP takes the #1 market cap at $10.24
  2. I can see the regulatory on/off ramps being considered to be, an FX conversation at he wallet/key pair level (hosted/regulated vs of foreign origin) This maps well to existing rules in all countries, by simply considering Crypto a "foreign currency".
  3. There is a high percentage of all existing Futures Volume trading, that is FX Futures. Yes there are Futures trading on other commodities, Currency is just one of.
  4. Totally agree. It is an XRPL sized undertaking. They will need APIs for the live network, they will need a historical API, they have Governance articulated, and they will need connections to all other networks.
  5. To do exactly what you have been doing on XRPL, make markets & provide liquidity. This time is it "cross ledger/network" instead of "cross IOUs & XRP on XRPL", although cross BTC ledger and XRPL would be analogous. However the Flare Network has a much different Governance and Economic structural setup.
  6. The "Crypto is a foreign currency" conclusion here, does add up, and is a mixed bag. The yin yang is, more taxes in conversion to fiat year VS more functionality/utility longterm.
  7. One key concept to keep in mind re The Flare Network & the value of Spark, is that participation in the network both avoids incurring the cost of inflation & earns a yield on your capital. I dont 100% have the mechanisms straight in my head yet, but the economic principles feel right. Bottom line, if you want to earn something, do something. If you want to sleep on your mattress cash, your value will be inflated away.
  8. I dont honestly remember, I just let him know and they took down the link or whatever the connection to the FI was.
  9. I haven't watched this yet, but there is a lot of things happening
  10. @King34Maine FYI, Adrian who has had a lead in ILP is in South Africa, and Bill Gate's Mojoloop project (its on GitHub) was essentially a copy/paste of ILP. I believe that his influence back in 2014, is what lead to ILP being created, and the whole idea of an IoV, ie a network of ledgers/blockchains. Then Mojoloop showed up and Adrain took a lead role. There was even something I found and let him know about that probably should not have been public, so he took it down. If I remember right it was a link to a financial institution.
  11. I have never understood or bothered to look up the legal ramifications of corporate roles/titles, but I know there are layers of responsiblity and each "layer" has more responsibility to the shareholders. Anyone got a good link?
  12. Thank you for sharing that interview, I missed it. Several good things in that, but the one that caught my ear was re Regulatory Clarity, where Brad said "other countries have deemed XRP a currency". Anyone have some confirmation on that, and know which countries, Japan? I will if it turns out that given BTC/ETH are commodities, and XRP becomes not only the 1st legally recognized "digital currency", and also the Only "digital currency". It wont be undeserved if the XRParmy taunts BTC maxis with "Look XRP is the first digital currency, lol".
  13. @King34Maine I think this takes things right back to 2013 and the original idea of Banks acting as Gateways to onboard value to the XRPL. However CBDC on XRPL would be the ultimate adoption of XRPL, and would be the ultimate stable coin because IT IS true fiat. I could easily see a CB issuing CBDC, then having Narrow Banks (Uphold/exchanges) handle the customer service and KYC/AML layer. This makes the XRP LoC product event more important, because like the CBs use SWAPs during Covid to expand the money supply of dollars in the international markets... XRP could be lent out to CBs (th
  14. Yes --- Re "Currency" I'd have to double check, but I think you have to be classified as a Currency Dealer, before the capital gain/loss per transaction issue becomes relevant to any country's IRS. End user "Currency" transactions are free from the capital g/l accounting & tax burden, because the FX Dealers (aka MMs) are wholesale footing the tax bill. It's the same principle described via de minimis rules
  15. Ripple's ownership is just a thing that is. All other comments painting either bad or good are opinions about the existence of the thing. Bearing witness to the fact that Ripple has a lot of XRP. Personally I think it is very good that Ripple has so much XRP because their strategic leadership has preformed like a rudder, in the turbulent formation period of the crypto industry. I'll call it "Ruddership" just for fun, and behind that ruder is a Navigator determining the desired direction. In time we will see, and I'm not surprised that we have seen Ripple come out with an XRP LoC. Thi
  16. You can skip to 57:30 to hear Ripple folks, but the first guy is worth a listen. This is a great video to get caught up / up to speed on where things are now, what foundations have been developed, and what tools are available for building on those foundations.
  17. This is from the FF Discord, "Flare Network is taking their snapshot of the XRP Ledger on December 12th. You will receive your Spark Tokens (FLR) sometime after that. Exactly one month after you receive those Spark tokens, we will be taking a snapshot of the Flare Ledger and distributing DFLR."
  18. I'd think it would be all markets, where the legal framework for the LOC is known. Essentially Ripple is acting as both the sender and the recipient, because they originate the TX via LoC issuance, then the money flows as the LoC client/borrower needs to support their business needs, then Ripple goes back to the public market and buys XRP to close the TX's round trip. They may do more lending into markets in the lower side of the flows. So market A has 100 XRP flows into market B, while market B only has 25 XRP flows into market A. Ripple would/could come into Market B and lend enoug
  19. Curious if you guys ever read my write up where I articulated this process? https://medium.com/@KarmaCoverage/how-xpool-may-work-an-attempted-guess-daf3674f17c7
  20. I think they are mostly US and more on the Software Engineer side than the Financial Engineer side. My interest stems from Flare's excllent economic argument that, having Network/Ledger security tied to a Token Value "does not scale for value". I hadn't thought of that concept before, but it is a sound thought. My core concern about some of the financial services "systems & methods" which have become popular in the DeFi space is a concern rooted in monetary systemic infrastructure design. I'm not done mentally mapping the parallels between these "new" (old recreated) Crypto based
  21. My interest started around the "Insurance" & "Loans" service offerings. But has grown since then. Not sure if I just have to come to terms with the fact that if you consider Crypto assets a foundational accounting ledger layer, then you should be able to build derivative financial products on top of the ledger. My concern & focus is on 1. Where does the leverage come from 2. How much excess funds (120% collateralized) can be minimized to reduce Capital Inefficiency. Re Insurance, the bar is set pretty low, 50-60% efficiency. 100% efficiency is the ideal, no wasted v
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