zero-2-9

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  1. Via Google translate: Response @nikb (thank you, clear answer):
  2. https://ripple.com/build/transaction-cost/
  3. The thing is that in this case $0.35 is exactly the same as $0.008 (0.35USD.payroutes ~ 0.008USD.Gatehub). Well not exactly the same: I guess you can trust Gatehub to send you your USD, where in case of Payroutes this is not certain at all. Be aware.
  4. No bug. Explanation can be found here: TLDR: The issue is that Coinmarketcap includes a gateway that issues USD (in this case USD.payroutes) that is valued a lot lower than USD from gateways that deserve more trust (e.g. Gatehub, Bitstamp). One USD.gatehub = 40 USD.payroutes currently. If you include the Payroutes price in your average USD/XRP price, then you get a distorted view.
  5. They suggest: But this is not the case. Which is clear when multiplying the numbers (price X supply): The issue is that Coinmarketcap includes a gateway that issues USD (in this case USD.payroutes) that is valued a lot lower than USD from gateways that deserve more trust (e.g. Gatehub, Bitstamp). One USD.gatehub = 40 USD.payroutes. If you include the Payroutes price in your average USD/XRP price, then you get a distorted view.
  6. You refer to this: It's because Coimarketcap includes a gateway that buys XRP for $0.044228: This gateway is PayRoutes (currently selling 0.33 xrp/usd, Coinmarketcap always lags): But be aware that USD issued by PayRoutes is at lower value than USD issued by Gatehub or Bitstamp (better trusted exchanges): The solution is simple: only take ´trusted´ gateways into account (at this moment in time i.e. Bitstamp, Gatehub) I guess this is all a perfect example that supports the comments made by @RobertHarpool in this topic:
  7. Before ILP Ripple considered to implement ´Boxed payments´, where boxes would hold funds and could be transferred anonymously from wallet to wallet, to handle the issue of privacy. Out of interest: why was this concept ever abandoned? Evolving RL/RCL philosophy? Technical issues? Because it could undermine (iso facilitating) compliance for some users? Or something else?
  8. They´ve mentioned before that they are "using both [Ripple]’s tech and its consultancy services". RCL of course is not a match here. Different use case. However, Ripple Connect is. That could be the tech they are talking about. Would not surprise me if the ledger with the invoice hash values is kind of a plug-in, addition or even part of Ripple Connect. If so, then RCL is involved as well (as you suggested), as the tech communicates with the Ripple network to get the lowest currency quotes.
  9. An update to the openings post: rhoLs7LTEYFfZCK69dip9Zn36GWJwYByJT ~pnpworld has continued its 100% buying streak till now. Perhaps @sayright could provide a total number similar to his overview here. IMHO this account is one of the main reasons for XRP´s increase the last couple of months. it buys almost every day, but once this account buys >150-250 BTC worth of XRP a couple of days in a row, there is a price increase (just like last couple of days). Once it stops, the price increase stops. @bairuyun first suggested in the chat this rhoL account is related to a chinese MLM scheme, initiated by some Korean guy. As rhol sends all its XRP to ~rp-card, it was suggested that this could be some kind of Ripple Card. This fits the sending pattern as noted by @Warbler. @mex4f found an app, which led @cmbartley to a website incl some videos that sells some kind of Ripple/SmartyCash card. No. So everything should be taken with a large grain of salt. It´s mere suggestions. But it seems worth diving into considering how relevant this account has been the last couple of months. But here is some more (more speculation that is): another website is http://rp-card.com/ (remember rhoL sends all its XRP to ~rp-card). A blatant Coindesk copy, with a RP-card logo on top of it. Remember the logo, I´ll come back to it. You have to login (here) to use it or you have to sign on (here). The fields needed to sign up (sponsor id, etc) fit the suggestion of a MLM scheme [side note: could be unrelated, but running on the same webserver, domains registered by the same registrar, using similar html language/tools (Korean btw): here and here]. A little digging shows that rp-card.com connects to the earlier mentioned organisation/people. Headquarters are indeed in Korea, but they seem to serve multiple countries (Japan, China, Korea, Thailand, Indonesia, Vietnam, Malaysia (e.g. see here)). Their Tokyo office is in the Shinjuku area. Here is the people from the Tokyo office visiting the Korean office (note the Ripple Card poster and logo in the back) : They seem also to educate people re Ripple/XRP. Here´s a pic from their Tokyo office (note the posters in the background and say hi to your fellow Ripplers ;)): It all seems fishy, several websites with stolen content and logo´s etc etc, but they seem successful (if (a big IF) indeed connected to the rhoL account). Here´s a thought: apart from the MLM effect, one of the reasons for their success could very well be the lack of proper gateways / ways of obtaining XRP for a lot of people. They simply profit from this. Should RL take legal actions here? Perhaps better to focus on the efforts to provide better access to XRP.
  10. rhoLs7LTEYFfZCK69dip9Zn36GWJwYByJT ~pnpworld Time to give this account it's own topic. Interesting to see what's going on here. Imho it is responsible to a large extent for the recent price surge from 0,004 to 0,009 USD/XRP. Not solely, but to a large extent. It deed seem to start the surge though. In one week it bought (in a 100% buying streak) over 2400 BTC worth of XRP. Close to a million USD at current prices. At its most active day it bought well over 600BTC worth of XRP in 24 hrs. The account follows this pattern: it receives ~30-70 BTC from ~snapswap-btc-hot. BTC is traded into XRP. XRP is send to r9vRRaaiWnh84gVjsXiFnU6rihqMN8Sqtm. From there it's distributed over several wallets, e.g. rB7h5kTDF7bdaUk13cUViG9rKWYyX7Nd1M (currently containing over 60M XRP). Then ~snapswap-btc-hot sends some more BTC, etc etc. It seems strange to acquire such a large stash of XRP this way. E.g. slower pace of acquiring (if for example there is no access to OTC sales) would have resulted in a larger stash. @bairuyun suggested in the chat this rhoL account is related to a chinese MLM scheme, initiated by some Korean guy. Is there any evidence for this? Would not be the first Ripple MLM scheme. --------------------------------------------------------------------------------------------------------------------------------------- Edit 8 Feb 2016: an update/summary and some speculation can be found here.
  11. Competitive spreads in XRP markets indeed seem a "powerful lever that can be pushed on" (from a XRP point of view). And apparently RL will incentivize market makers to offer better spreads, which makes perfect sense. However there seems to be a gap between theory and practice here. No market maker or any other non-xrp-speculator will hold XRP in a too volatile market. Needs no saying that in current thin markets, with XRP whales (incl early incentivized market makers?) and one XRP Megalodon and some of his cousins looming over the market, there is a high risk of volatility. A hedge mechanism, as suggested above by Celtic, to reduce the risk of adverse price movements, sounds great, but would such a mechanism ever cover the risk of that one Megalodon and his cousins for FI's? If FI's are too chicken here (i.e. are risk averse, and rightfully so) to hold significant amounts of XRP due to the founders XRP gone rogue, then it could take at least another full year before we see some traction (there goes your first-mover-advantage). In other words, in theory competitive spreads could solve the chicken-and-egg-problem, but in reality it does not?
  12. It has been mentioned here before that Rabobank works on blockchain tech incl Ripple. Read more about an actual example of one of their ideas on the use of Ripple here (interview with Harrie Vollaard, head of Innovations at Rabobank, that was published today): http://www.ftm.nl/column/experimenteren-met-internationaal-betalen-met-bitcointechnologie/ tl;dr: Rabobank introduced the MyOrder app for consumer payments in 2008 (red - they own 80% of the company thats running MyOrder).MyOrder can be used for online payments but also in retail, restaurants, movie theaters, at the KFC, etc. You can use a.o. iDeal, PayPal, Credicard to fill your wallet.Rabobank is working on the use of MyOrder abroad (as it can only be used in The Netherlands for now)Ripple will be used to facilitate these paymentsNice to see that banks (Rabobank will not be the only one) are integrating Ripple in their apps for consumer payments. It has been speculated before that as soon as FI´s have their systems connected to Ripple such initiatives will pop up. Imho, this is what in the end will make merchants/retail use Ripple.
  13. Some food for thought on Ripple´s adoption... take with a grain of salt... or not... This little experiment by Volante during SIBOS2015 seems to fit the Diffusion of Innovation Theory (where the Innovators are "implementing" and the Early Adopters have "plans in place"): The gap between Early Adopters and the Early Majority has been defined as “The Chasm”. An important point in the adoption of new innovation/tech. Passing " The Chasm" is considered to be The Tipping Point, which is "that magic moment when an idea, trend, or social behavior crosses a threshold, tips, and spreads like wildfire" . The chasm is a.o. caused by the motivational differences between early adopters (they want (and profit from) what others not yet have or know about) and early majority (they want proof of concept first). Therefore, to bridge the gap between early adopters and the early majority, marketers propose that you have to change your messaging and media strategy, from one based on innovation to one based on proof of concept. Sounds familiar? Perfectly fits Ripple´s change in media strategy last week. With their new website, dropping the ´Labs´ from ´Ripple Labs´, and their media outings. Ripple seems at ´The Chasm´, just before the ´Tipping Point´... Will be interesting to see what happens next...