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LordVetinari

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About LordVetinari

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  1. Huh? You'll have to explain. In you title, you say "the biggest problems with Ripple". Do you mean the company specifically?
  2. LordVetinari

    Q4 analysis/prediction

    Mom! I can't believe you actually made an account. You did this to me on Facebook too. I told you I'd do the dishes as soon as I was done! You are the worst mother in the world! I hate you!
  3. LordVetinari

    Who is Sonny's counterparty on Bitso?

    I agree. Sounds cumbersome for each client to have multiple accounts across geographic locations. I would think it's most efficient if Ripple had accounts on each exchange, especially as new exchanges become xRapid partners. Right now there is only 1 exchange in Mexico offering XRP/MXN. If there were 2 or 5 or 10 exchanges offering a specific pair, xRapid could much more efficiently know how much XRP was available at any given moment. Even more efficiently than if exchanges ran their own bots that xRapid communicated with. Thanks very much.
  4. archive.org Address : rGeyCsqc6vKXuyTGF39WJxmTRemoV3c97h Link https://archive.org/donate/cryptocurrency/ Please be sure to check the wallet address before sending donations.
  5. LordVetinari

    Who is Sonny's counterparty on Bitso?

    The more I think about this, the more I believe it's Ripple that has the account. 1a. If it was SuperFI, that would mean SuperFI would need to open and possibly prefund accounts on any exchange it would use as part of their xRapid transactions. That would mean, an account at Bitso and BitStamp. To prefund and withdraw fiat would likely require KYC/AML verification and if an exchange has "real-name" verification, that would exclude large numbers of potential partnerships. 1b. In this example it's just Bitso. But what if SuperFI decided to add another exchange that offers XRP/MXN at a later date. Now SuperFI has two sources for XRP/MXN. Can they only buy from one at a time? Are they able to source 25% from one and 75% from the other? Sounds inefficient. It would be better if Ripple has two accounts, one on each exchange. Ripple could then very efficiently source XRP from multiple exchanges that offer XRP/MXN. 2. Bitso is the account holder. The problem is that would mean xRapid obtains the XRP OTC and specifically, not using the public order book. A Bitso bot would buy up some amount of XRP. Let's say 5000 XRP. The bot would likely have to buy from multiple users on Bitso, let's say 5 trades of 1000 with 5 Bitso user accounts. The bot pays each user, Sonny would have been one of them, and the 5000 is bundled up and delivered to Ripple and Bitso received payment for the 5000, from Ripple. That would be OTC, correct? That leaves a Ripple account as a likely counterparty. I've still not had time to consider how KYC/AML plays into it but it may be advantageous for Ripple when you look at the other two possible configurations.
  6. LordVetinari

    Who is Sonny's counterparty on Bitso?

    So as part of the on-boarding of a new client to xRapid, clients must have or create accounts on each exchange? That would be the only way SuperFI would appear in a log file. I have also considered that as a possibility. But I think it would not be the most efficient configuration.
  7. LordVetinari

    Who is Sonny's counterparty on Bitso?

    No, I'm still not certain if it's Bitso, Ripple or maybe but unlikely, SuperFI. And that's because in other threads people have said it's not OTC.
  8. LordVetinari

    Who is Sonny's counterparty on Bitso?

    When people talk about xRapid, we hear things like, "xRapid buys XRP". Technically, that is as vague as saying, "a battery moves the hands of a clock." Please keep in mind, "counterparty" in relation to my question, is a single name, likely a named account which is under the control of some company, which would appear in a "trade history" log entry that identifies the account on Bitso that bought Sonny's XRP. Someone, either Bitso, Ripple or SuperFI requires an account on Bitso. Sonny clearly has an account on Bitso. Maybe named "sonny922". Bob and Mary likely don't have accounts on Bitso. So Bob would not be the "counterparty". I'm trying to understand how all the individual participants, in all the individual steps of an xRapid transaction interact. Hope that helps. @P3T3RIS KYC/AML is also something to consider. I haven't had time to do so. Off to work but I will consider how that factors in.
  9. LordVetinari

    Chicken Game

    This game sucks!
  10. XRP was the original plan and R3 tried to pull a fast one on Ripple, got caught, got rejected, and now back to XRP.
  11. LordVetinari

    XRP: By the Numbers

    That might be a problem. Politicians rarely work that way. 🤣
  12. LordVetinari

    Who is Sonny's counterparty on Bitso?

    Thanks. I was doing a slow crawl through an xRapid transaction. That was one part of what I was trying to figure out, exactly who was on the other side. Much appreciated.
  13. And there's a thread in "Technical Discussion" if that's what you're into.
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