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Everything posted by KarmaCoverage

  1. It's actually just a tweet. Supposedly he joined some project, I'm not sure what project, but I'm sure he would be an asset.
  2. Everything on ledger may not be easily traced, but is tracable. As with many things, there isn't much clarity around airdrop taxes. I think there is both a time stamp when the airdrop is received that is significant, and as you elude to the question around establishing basis to calculate capital gains. I like your thinking about the cost of the trustline as a basis, but because you can simply close the trustline and then that "cost" back, I could see a counter argument that the reserve is more of posting risk less collateral, than an actual outlay of capital.
  3. This just ended. Wonderful chat with knowledgeable people. Focus around Interledger, Connectors, international regulation compliance, and much more. I'm going to start doing these daily. They have all been wonderful, but I only just figured out how to record and share. Most of the other chats have been a little bit less technical, but still great to speak with brilliant minds. Enjoy & join in on Twitter 5pm EST / 10pm UTC (unless otherwise notified). Will upload to YouTube later.
  4. Crypto around 18:00 Same BS Edit: Less BS and just because he touches on China & crypto
  5. With Rippling disabled, you are essentially exposed to only the risk that the Issued Assets from the wallet you extended the Trustline to are worthless. If it's an Airdrop, meaning you didn't buy the Issued asset off of an Orderbook, you can't really lose anything. If you did acquire the Issued Asset on an Orderbook then your potential loss would be limited to whatever you paid. There are a few XRP locked up in reserve for the Trustline object, but you can always close the Trustline to unlock those 2 XRP. So not much risk there. The limit you set is the maximum amount of the Issued Asset that the issuing wallet can send you. So if an Airdrop was for 1000/Trustline and you set the max for 100, you could only recieve the 100 maximum.
  6. If it were a poker game, Ripple has slow played the strong hand. BTC bet on being dealt first mover advantage, but lost on the draw. ETH bluffed their way hoping Ripple folded, thinking they tipped the dealer enough of a wink to preset the winning card. Whoops 🤦‍♂️ With all these new projects building on XRPL its starting to look a lot like Ethereum circa ICO boom. Except this time it's not all scams, and Securities Fraud. Once again, Ripple have proven to "be the adults in the room". The XRPL cambrian explosion has only just ignited, or is maybe in the ignition phase. I also find it humorous that Ethereum tried and failed to copy XRPL Trustlines. https://trustlines.network/ it's not like they didn't recognize the genius of XRPL, they just hated that they had to actually buy in, instead of just run mining rigs and feel smart.
  7. Dude, I don't know. I've been amazed at how much headwinds Ripple & XRPL have faced from within the crypto community. Only thing I can come up with that makes sense is, 1. Others wanted "free tokens" and XRP couldn't be mined, and PoS extends the advantage of early miners. So these folks are not interested in doing the best job, rather just self interested in their own lucky stake... 2. The real old school guys all know XRPL is superior technology and they are afraid it will take over as the non twitter hype people enter the crypto markets asking professional questions to which "it's centeralized" wont suffice as substantive. Then you have the money center banks, they know the reality, but have incentives to delay delay delay. Anyone genuinely wanting to see these payments problems solved would be pushing RippleNet, XRPL, & the IoV. It's brilliant. Add to that, the topology issue that I was trying to shine a light on, regarding extending the West's banking dominance further into the future, vs China/Russia benefiting from PoW/PoS... it's all anti logic, but whatever.
  8. I'll skim his paper, but his tweets seem to say that he is stuck on PoW & PoS cryptography. Probably used the word "consensus" accidentally. He's talking about incentives for validators, that also sounds like mining. I'd point him to Flare's key economic point, where Hugo articulated how neither PoW or PoS can scale for value, because you can't have value securing the network. 1. Let's say ETH is worth $1 trillion, and it hosted $10 trillion of value. For 10% ($1T) you could take over 10x the value $10T. 2. If the network's security is upheld by the token's value, then the token has to be more valuable than everything else in the world, TX fees would be worse than they already are, and you'd lose decentralization to an oligopoly. The only think BTC & ETH have out preformed Ripple at is talking a lot publicly, but like FUD talk is cheap. It is impressive how many smart people have fallen in line with the PoW framework, and just don't know about XRPL's Consensus.
  9. @LArlp one more sophisticated aspect to the cost of a payment that is often over looked, is Time. With either RippleNet or ODL using XRPL the settlement occurs in seconds, as opposed to days. You may have seen conversation about the Trillions of dollars in Nostro/Vostro accounts, that Basal 3 no longer allows to count towards a bank's reserves balance? 2 things, first that's just a lot of money taken out of the economy, that bakns used to be able to use to meet reserve requirements. Second, "time is money", so given the multi day SWIFT settlement times, making value movement in seconds will save not only the bank's, but also their SME clients. ODL is fundamentally the same innovation as Dell made for computer with their JIT "just in time" inventory management processes. Except instead of reducing the inventory of computer parts necessary to hold/invest in inventory... ODL reduces money in inventory.
  10. I'd be happy to help you, but I'm not going to lead a horse to water that won't drink. No offense intended. However I feel like I can point you into the proper direction. Are you fimular with Complex Adaptive Systems & the Santa Fe Institute? There is an entire body of math used to understand networks. These innovations are not new or rocket science. If you don't see the exponential network growth coming, you won't be able to justify your Thesis. It will not work out so well, as compared to the future reality. Genuinely happy to help, if you are serious DM me, let's chat 👍
  11. @LeonidasH good job on the video. I think for any astute observer BoA's engagement with Ripple has been apparent for years. As you noted, their sustained engagement in the Steering Committee for RippleNet seems to say enough.
  12. Interesting! I see where you are going with this. I've been looking at creating the same dynamics for a while. Why not just use? https://xrpl.org/checks.html Step 3a: If the Check expires before the recipient can cash it, the Check can no longer be cashed but the object remains in the ledger. Step 4a: After a Check expires, anyone may cancel it by submitting a CheckCancel transaction. That transaction removes the Check from the ledger.
  13. RippleNet is the private banking network that surrounds the XRPL, each bank gets their own Standalone xCurrent ledger (private XRP ledger) and then they connect via ILP to their Correspondent Banking partners. So it's basically Correspondent Banking, better faster cheaper. You are not going to find any information about the fees or transaction volume for RippleNet outside of what Ripple officially announces. "5x growth yoy". You can see the public XRPL transaction data from the historical database. https://xrpl.org/ledger-history.html There are other unofficial tools, and some people who have maintained the ledger history privately. I know of some non or not yet public tools that are under development, but depending on your time frame, it may be too late for you to use. @LArlp What is your Thesis? I'll help you if I can. Do you run a node? https://xrpl.org/rippled-api.html Your 2nd question is a loaded one, https://xrpl.org/transaction-cost.html#fee-levels you have Reserves, TX fees, fee Escalation, orderbooks spreads, trustline quality in/out, & Pathfinding which is the Routing engine. I've argued that when you burn the TX fee you are paying g for the Pathfinding's computational resources. And Ripple does not get your the burned XRP, it is permanently removed from the total supply of XRP.
  14. It's a per Trustline thing. Xrptoolkit probably can do it. If not XUMM can, I'm pretty sure. I need to switch to using one of those, they are way easier than what I do.
  15. Just turn off Rippleing on the Trustline. Biggest risk is that you paid nothing additional (your XRP is a sunk cost) and you get something, and then Sologenic fails and the token you didn't pay for becomes worth nothing. I haven't dug into Sologenic yet, but I gather they are doing legit business. Solving a real world problem, as Ripple says.
  16. No, Hooks amendment I think will ultimately become an approved ammendment on the XRPL mainnet. Hooks are currently live on the testnet. Sidechains will connect to XRPL via ILP and Payment Channels AFAIK.
  17. I thought the part on Hooks he made a good point, about Hooks bringing most of the smart contract functionality (but not all) however Hooks are light weight and will not slow the ledger from making forward progress. Once we can use Hooks to stack TXs it will open up a ton of options.
  18. What I ODAP? A far as I know, ISO 20022 is the foundational protocol / standards. Then the W3C adopted ILP standards 5+ years ago, and all the browsers & mobile OSs began ILP integration 2-3 years ago. Ripple was obviously there from the beginning since they created ILP. https://w3c.github.io/webpayments/proposals/interledger/ https://www.w3.org/2016/Talks/ahb-payments-seoul-201611.pdf
  19. I can see that. He was ambitious with his publicly stated goals, while Ripple actually keeps their mouth shut, which is respectable. They only talk about what they already did, via quarterly market reports, which Vias started. There was one video where I don't think he realized they were recording and he said XRP needed to be $70. I posted it, and a link the the video which disappeared pretty quickly. That said I think especially with this SEC case it's become obvious that Ripple has faced an uncommon amount of headwinds. Imagine how long fbook or goog would have lasted, or taken to scale up with this amount of bs thrown on their windshield. Trying to be optimistic, I think that is an indication of just how much the big money center banks and BTC/ETH are intimidated, and all those folks are smart, knowledgeable, & savvy.
  20. Why do you say that? He's at Linqto now. I always thought he was good. He's a financial engineer also, so I appreciated much of what he did and said. Dude knows markets.
  21. @brianwalden have you looked at Hooks? https://xrpl-hooks.readme.io/ I think they will open up a new world of functionality on XRPL. They are not turning complete, but if you want to get super technical neither is Ethereum. They do enable you to string together any series of TX types on XRPL in a feedback loop sort of way. There is a lot that can be constructed this way if you do it cleverly. Took me a minute to wrap my head around it, still don't feel 100%, but the ammendment could go live in the not to distant future.
  22. Good point! Obviously the core functionality even preexisted BTC because the original RipplePay was from 2004. They @JoelKatz only added in the Cryptography layer after realizing the short comings of BTC. Ryan Fugger still has the original site live. https://rumplepay.com/
  23. It will require the use of ILP. No way to do it otherwise. RippleNet is based on ILP, and Liquidity Hub will aggregate on top of that. Uniswap only does the Pathfinding/Routing functionality. XRPL can do that, but as I explained in the How xPool write up, "distributed Pathfinding" can be accomplished via multiple Rippled ledgers connected via ILP. I think that's not exactly, but close to Liquidity Hub. That would make the "hub" distributed.
  24. I think there will be many industries. Banking is obvious, they will serve the SMEs liquidity needs. The first industries to pick up up new tech are criminals, porn, & gaming. So Gaming, like Gala Games would be another user type. Just think of Gala as the Bank and the players as the SMEs. It's the same architecture. Essentially you have a group of users (SMEs & players) who engage with a community or service operator (Gala & banks), and the service/community organizer can provide liquidity for whatever the end users are trading amongst themselves, this helps solve the chicken & egg problem, as well as offers the Operators a revenue opportunity for making the market. Think of media content groups like youtube or HBO or Netflix becoming a community. You could see fbook and other social networks like Reddit, or Twitter already has tipping. Neighborhood association's, youth/pro sports leagues, school boards, anything with a credits system like airline miles, etc
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