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eXtRaPolate

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  1. Huge thanks to @mDuo13 and @Picard78 for the information (and an honorable mention to @Flintstone for the guided direction). This actually answers all of my current questions with regards to what I am attempting to accomplish. I don't want to disclose too much just yet, but it is definitely economically and socially responsible. I'm attempting to fix a publicly used system that is long due for an overhaul. Thanks again!
  2. Thanks. I wasn't quite sure where to post it.
  3. I'm hoping to gather some additional information for possible future use. I've been invested in XRP for well over two years. I understand very thoroughly what the XRP token is built for with regards to remittances, bridging assets, etc. My question is: Is it possible to build on the XRPL to utilize the inherent security that it offers without using it specifically for handling payments transactions? More of transfer of information securely. Is this more of a blockchain specific feature? I'm wondering if I can tie some coding (C++) directly onto the ledger or would I have to develop the coding for what I was looking to do and handle payments separately over the ledger...? My coding experience is VERY limited, but it is something that I might commit a lot of time and energy into. I'm just gathering information at this point. Feel free to "dumb it down" as much as possible here... I assure you that I will take no offense. Additionally, I attempted to email the company about this last week, but have yet to receive a response. Probably because of my general lack of knowledge in this area. Thank you in advance for any pertinent information!
  4. I agree. Even the financial institutions that are located in the US are built on a trust system. It's just easier to trust those that are also internal to the US than it is to a foreign banking system. Plus, the internal banking system is all backed by FDIC insurance, which makes it easier to trust. XRP offers additional security, limits the need for trust and insurance, and increases actual transaction speeds substantially. I believe that the micropayments sector will likely be the initial reason for internal transactions on a digital ledger, but will eventually lead into the movement of larger payments internally.
  5. Just a point of perspective: Ethereum (Fabian Vogelsteller specifically) proposed ERC-20 on November 19, 2015. At the time ETH was priced at approximately $0.90 USD. Though the price did see some increase, it took over two years before they started seeing what could be considered a meteoric rise in value. As of August 25, 2019, there were 208,165 ERC-20 token contracts on the Ethereum blockchain, according to Etherscan.io These things take time, and we don't know what the long-term goals of Ripple are with their investments into other companies. Perhaps they see the potential to tie into other markets through these investments? We (from what I can gather) are all (maybe not the FUDers) invested in XRP because we honestly believe what it represents and the impact it could have on the entire world's economy. It's easy to be negative when you're not striking it rich overnight, but speculating failure on this basic information the wrong approach. It's okay to inquire if you really don't know something (I know that I have), but the negative sentiment would be better displayed in a group not specifically constructed to support and transfer knowledge of XRP and Ripple.
  6. I'm assuming that you have all of your investment on a trading platform? Which trading platform? I'm guessing by "secret key" that you are using two-factor authentication?
  7. Can anyone point out to me which one of these companies is the "toothpick" of the Swiss Army Knife? That was always my favorite part
  8. The economy is cyclic. Every recession that has started since the 1950s (specifically in the US... not sure about others) has been preceded by a decrease in residential sales. This makes sense since people are a lot less prone to investing their money into an uneasy economic structure. The cycle indicated that the next recession should have begun early this year, but some key policy changes have pushed past this. This will likely push us into an area of hyperinflation, which will ultimately lead to a larger correction (% based). There are many countries around the world that are in this same situation, and are already preparing for crisis recovery in the hopes that it's not as bad as the last recession. I (much like everyone else) don't have a clue what the crypto market is going to respond with, but I'm very hopeful that I made the correct choice.
  9. *Eloquently written from his mom's basement*
  10. This thread really took a drastic swing. IMO Gold is worthless. It only has value because the governments recognized early on that it was a limited resource, and they could falsely peg their printed paper currencies against it. (Disclosure: I really like conspiracy theories and playing devil's advocate, but this one is pretty well supported). Gold really doesn't serve any useful purpose. In fact, most countries fiat currencies haven't been gold-backed since the early 1970s. It's only retained by countries out of fear that one country would possess all of the gold, and obtain some sort of power status because of it. Someone on here recommended the book Currency Wars about a week ago, and it will blow your damn mind... Highly recommended. Also IMO: Large investors realize that Bitcoin's only value is being first to market, and are now trying to justify it by calling it digital gold. I wouldn't be surprised if they literally try to peg it against gold in an attempt to justify it's future value. Lastly, the best thing that could possibly happen is for Bitcoin to run all the way up to $100k or even higher. Every single time it starts to take off it exposes itself as inefficient and out-dated. At that level it would consume significantly more energy and only draw more negative attention to itself. Bitcoin will likely not go away quietly, but it will likely reach a top-out value that it will not go beyond based on its own inefficiencies.
  11. "explicitly said that they're going to be using blockchain to do it" "it's confirmed that blockchain (distributed ledger technology – DLT) is going to be at its core"
  12. I think it is awesome that advancements in technology bring about strong competition within this industry. It's what stands to make the world better for everyone. Even SWIFT finally had to admit that their technology was outdated and was long overdue for a change. "If you can't beat them... join them."
  13. It's easy to take a speculative point of view of other cryptocurrencies that are on the market. The market in general still seems to be in its infancy, though there have been great strides since its inception. There is a lot of competition, and those that have even the smallest investment into the market (myself included) tend to choose a limited number of cryptocurrencies and defend them to a point of exhaustion. I think there is a better point of view... let me explain. When I first dipped my toes into the realm of crypto (that would soon engulf the last two years of my life) I had extremely limited knowledge, and I had only heard the name Bitcoin in passing. I knew nothing about the technology, and nothing about its capabilities. Much like many others, I was very reluctant to entering this market. I found XRP the very first day that I gave this technology a chance, and I haven't turned back since. The first explanation that I found that gave me clarity about what XRP and the ILP was purposed for was probably on this sight (There are sooooo many great contributors here). It was compared to the origins of email, and how an AOL account could only correspond to another AOL account. Same with hotmail, yahoo, etc. This all changed with the introduction of IMAP, POP3, SMTP and HTTP, which essentially works as a communication net laid over all of the domains to allow them to communicate seamlessly in the background without you being any the wiser. The ILP is designed to perform this same exact function with regards to currencies of all forms. There have recently been companies (e.g. Facebook) and banks (e.g. J.P. Morgan) beginning to develop their own cryptocurrencies. According to my personal research, it doesn't seem as simple as just plugging your USB device into the crypto market to interact within its boundaries. Companies have always had levels of internal ledgers from the front end of stores (registers), to the back end of stores (store manager's computer), to the financial department for records keeping. It's really not surprising at all that companies are beginning to develop their own cryptocurrencies in an attempt to add a local level of control within their own business. The ILP ledger would seemingly take away a large part of their established systems which have become an industry standard over centuries of business operations, and reluctance to adoption is not surprising because of this. That being said, the crypto community as a whole should welcome these alternative cryptocurrencies that are being developed within the bounds of a particular company instead of feeling threatened by them, because they are representative of companies attempting to plug in to an emerging industry which can benefit the world's economies. I wouldn't be surprised if (eventually) every business/bank around the world has developed their own internal cryptocurrency so that they can actively participate on the market. If anything, those isolated currencies would allow the industry to span even further out and reach deeper into different industries. I'm open for counterarguments to my thoughts, but please be respectful in your approach. Thanks!
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