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gtyj

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Everything posted by gtyj

  1. Accounts being seen on the public ledger is a big concern for Banks. I know veteran board members like the now departed @Graine showed concerns about this, referencing the same middle eastern banker anecdote. So far I have not heard how this could be solved, anyone know anything?
  2. I don't believe there is an equivalent video to the one below (also in https://ripple.com/solutions/process-payments/) -which demonstrates how xCurrent works- for xRapid. I do remember when @peebo38 first posted here and on reddit she asked what people wanted and many (myself included) wanted a similar video demostration for xRapid. Was it ever made?
  3. So there is nothing intrinsic in xRapid that allow banks that are making fiat-to-XRP or XRP-to-fiat transactions to get the best deal for the fiat/XRP the bank is selling? I can at least look at Uphold, Binance, Bitstamp etc and buy at the best prices, wouldn't banks want to automatically be able to do the same specially since they're transacting large volumes?
  4. So what is xRapid's order or priority and criteria for sourcing XRP for a transaction, I assume there is one. Would it first source XRP from selected Market Makers and if more than one market maker is offering the desired XRP-fiat pair would it then choose the cheapest one among them? Another question is about liquidity, what if none of the market makers have the volume the bank is looking to transact? Then what.....escrow, xpool?
  5. In every cross-border money transaction involving XRP there is an initial source fiat to XRP buy and a subsequent XRP sell for the destination fiat of the recipient. For example: bank A in the U.S. wants to send 1 Million USD to bank B in Australia. xRapid first buys 1 million XRP then sends it to bank B, then bank B sells the XRP for Australian Dollars (AUD), all this happens atomically (either both sales of USD-to-XRP and XRP-to-AUD happen or they do not) in 2-4 seconds. So the Reddit post https://www.reddit.com/r/Ripple/comments/8p8n8s/why_will_the_value_of_xrp_rise_when_more_banks/ suggests that xRapid's sale of XRP (the XRP to AUD part of the example) will only happen if the AUD bank B receives from the sale is equal to or greater than the 1 million USD worth of XRP it holds, if the XRP sale generates less than 1 million USD worth of AUD then xRapid would not execute it. This suggests that every XRP-to-fiat sale that is preceded by a fiat-to-XRP buy would increase the price of XRP? I find this hard to believe, if so then many xRapid transactions would not be able to execute on a bear market where by the time a bank sells XRP for a destination fiat, that XRP has depreciated to the point where the bank will not be able to cover the fiat invested to buy it 2-4 seconds before. Am I missing something here? I believe either David Schwartz or Brad Garlinghouse, stated in the past that market makers would sometimes lose money (if XRP price drops after initial fiat-to-XRP buy) and sometimes gain money (if XRP price rises after initial fiat-to-XRP buy) with every xRapid transaction but there was not guarantee of recouping the entire initial fiat amount. Can someone in the know (like @Graine) clarify: The screenshot of the Reddit thread is below.
  6. This guy, as a developer I would love to hear what he has to say on his work with W3C.
  7. Well the BTC CME futures sure aren't, (http://www.cmegroup.com/trading/equity-index/us-index/bitcoin_product_calendar_futures.html) next date is April 4. Btw they did not have a huge dip followed by a huge spike in the hours prior/post last month's expiration.
  8. "If I'm going to do a SWIFT payment I am going to pay $30-40 I probably need to be sending a certain amount to make that worth my while" 37:18 mark Hello Jevons paradox! In case you did not know, David's Schwartz has commonly referred to Jevons paradox (which occurs when technological progress increases the efficiency with which a resource is used -reducing the amount necessary for any one use-, but the rate of consumption of that resource rises because of increasing demand.) as a factor that could contribute to a multiplier effect for the future price of XRP. Since people currently to have to spend $30-40 to send a money transfer, some of them are going to be hesitant to send smaller amounts and never send anything, but with the cost savings of xRapid -assuming remittance companies pass some portion of it to customers- the number of transactions is likely to rise. XRP could be the catalyst that begins a new race to the bottom in remittance fees which would generate a far greater volume of remittances, which yields more XRP demand which results in a much higher XRP price.
  9. I tried through both the app and the browser and was not able to scoop anything. Even tried some basic url redirect attacks and nothing with Ripple or XRP could be found. So it could either be: - Complete BS - Not yet released in my timezone (United States Eastern Standard Time) - Coinbase is well defended against url redirect attacks, which are trivial security attacks by OWASP standards
  10. Yeah Brad Garlinghouse said it in the Yahoo finance conference a few weeks back that Japan's internal money transfer system was so inefficient XRP actually made sense for domestic money transfers. He mentioned it was a surprise use case. So yeah maybe XRP could be the backend settlement token for all these Japanese cryptos (fingers crossed)
  11. I was able to do it from my phone's browser, the issue was that coinbase requires the 2-step authorization to confirm withdrawals and that feature apparently is not in my app's version. Also a undesireable side effect is that I got an email saying the withdrawal will take 72 hrs in order for Coinbase to "ensure it is authorized activity"...so sick of the latency of crypto trading in general and coinbase's in particular.
  12. Hi everyone, I bought some BTC yesterday (glad I did not wait for the ends of today's BTC CME futures contract) from coinbase and have been trying to transfer them from the coinbase android phone app to my bitstamp wallet but the coinbase app hangs. I close and reopen the app and my BTC is still there (so no funds lost) however I cannot transfer the full amount to my bitstamp wallet. I had done this before from a pc and it worked perfectly but I am at work right now so coinbase is blocked and I have issues with my VPN at home so I can't remote and transfer from my home PC. I found an old reddit thread (see below) where someone mentioned not to transfer the full amount so I tried that but it did not work. Anyone have any tips on how to successfully do this? I don't want to miss the potential (and speculative) BTC rise after the CME futures contract's expiration (in 45 minutes) to convert BTC to XRP and squeeze a few more zerps into my hodling position. Any help on this would be appreciated.
  13. Just a heads up if you are in the United States bitstamp charges your Credit Card as a cash advance, which has astronomically high fees and affects your credit score. I tried it when I first bought and was lucky my credit card company rejected the transaction otherwise there would have been a 26.99% charge. Can't speak for those outside the US though.
  14. How about waiting until about an hour before the CME BTC futures expire tomorrow at 4PM London time. It seems like you can maximize your stash that way. You might even be able to consistently buy BTC a couple of hours before every CME futures expiration and flipping them a couple of hours after and make a nice periodic supplemental income.
  15. Given the downturn in prices recently and the tethered relationship to BTC. For your typical "buy BTC with USD then send it over to an exchange to buy XRP with BTC" maneuver should I buy BTC before its futures contract expires Feb 23, then wait until after so BTC hits a momentary high to then convert BTC to XRP? Any pitfalls with this strategy?
  16. So any TA on how long this dip might last? I am looking to round up my stash now that we're below 1:1 XRP/USD but wanted some insights if someone's got an analysis on the next 4-12 hour price movement.
  17. I only do a few buys a year, and as a hodler most of my position is solidified already. But I will def notice the price in the future for more accurate tax reporting if I buy more dips.
  18. They did document my trades but said trades were in BTC/XRP, I first purchased BTC with USD on coinbase and transferred the BTC to Bitstamp to then buy XRP with it. Their trade history does not have the price USD to BTC for when I traded my BTC for XRP they only have the XRP/BTC price so I needed to reference the XRP/USD price. But I can do it now, the historical data was right at the bottom of the damn page. Sorry for the idiotic post, should've scrolled to see it. I was starting to go down the road of looking at their API https://www.bitstamp.net/api/ docs to call it via postman but looking at the page is way simpler. Thanks for your help!
  19. I am trying to lookup XRP/USD prices for particular dates (such as Dec. 21, 2017, 05:49 PM) for tax purposes but have had no luck in finding historical price data for Bitstamp beyond their tradeview link (https://www.bitstamp.net/market/tradeview/) which only goes back 3 days. I've tried looking at CMC and livecoinwatch but have not found historical price data specific to the Bitstamp exchange, as opposed to the overall market. So does anyone here have either: - A link to where I could find historical Bitstamp prices or - A link to a good Bitstamp API wrapper where I could pass in the date and currency pair parameters and get a price or - A link for a tutorial showing where I could pass in the date and currency pair parameters -as well as any others- to Postman and hit the Bitstamp API endpoind to get price data back (GET request if their API is coded correctly) Any help on this would be appreciated, somebody has had to have done this before, right?
  20. The wallets would most likely get added to the OFAC list and the banks would blacklist them. This is what happens with a lot of institutions right now. I've personally written c# code to purge transactions that matched people/entities/vessels on the OFAC list taken by companies before they are batched to be sent to banks on nightly jobs.
  21. Wow, that site its pure gold. My personal favorite (and there are many): "We suggest shilling this coin heavily to your family and friends like a ******* sociopath. Creating posts on how this coin will 1000x by April on /r/wallstreetbets, /r/cryptocurrency, /biz/, and making several youtube videos promoting PonziCoin is also encouraged." Great find
  22. Es una abreviación que quiere decir "laughing out loud". Algo así como el equivalente de decir "riéndome en voz alta". Es una manera abreviada de decir que algo te hace reír o te causa gracia en ingles.
  23. The math works, this is a fine visual example that shows how greater liquidity minimizes the effect of volatility over transfers assuming the volatility is minimal (in your example it is cents not single/tens/hundreds of dollars) which is to be expected of a stable price once XRP matures or even now since the time between transfers is 4 seconds so the price does not move that much in this such a short timespan. Well done, except for the commas where Americans place our periods.
  24. that last line was XRP = $.025 assuming all 100 billion XRP are in circulation. But in reality not all of those 100 billion XRP are going to be in circulation, the actual circulating supply will be reduced by the following factors: -A) Amount of XRP being hodled at one time: Not everyone (banks, funds, individuals, etc) will be selling at the same time so there will always be a subset of the circulating supply that is not available for transactions. -B) Number of activated wallets of people selling only a portion of their XRP: Right now there are 1 million activated wallets and this number increases with time, each wallet removes 20 XRP from circulation unless fully liquidated so even if some people are selling their zerps unless they are selling all of their zerps they will not be allowed to sell the 20 XRP that activated their wallet. I am not counting the activated wallets belonging to the hodlers those are accounted for in point A. -C) XRP Burn rate: for every 100,000 transactions 1 XRP is burned so this number is negligible -D) Escrow release rate: 1 Billion per month for the next 55 months, if the "$5 billion / 100 billion" takes place before the full escrow amount is released then we should not divide by 100 billion but by 100 billion minus "amount left in escrow". Right now the circulating supply is 38.7 Billion if Ripple were to capture all of swift in exactly 2 years from today then the calculation is "$5 billion / 62.7 billion = $.0797" (62 = 38.7Billion + 1 billion per month for the next 24 months). Still looks pretty bleak for us. So even though when it is all said an done we have "XRP price in USD: $5 billion / 100 billion = $0.025" that calculation in reality is: XRP price in USD: $5 billion / (100 billion - A - B - C - D) = ??? Please let me know how valid my points are? Price = supply/demand and I see the supply never truly being 100 billion because of factors (A-D described above). So: - Have I overlooked other factors decreasing supply? - Will Ripple expand beyond SWIFT into other areas (think taking over a part or all of MasterCard, Visa or Amex's transaction volume, issuing its own XRP Credit Card for consumer purchases, etc) so the $5 Billion numerator is actually a greater number?
  25. Actually knowing how much XRP most wallets in each region (Europe, SE Asia, North America,etc) have would help people anticipate potential sell-off waves. I would love to see a pie chart of XRP ranges, something like 1-7% of people hold a certain range of zerps, while another % owns a greater range, and so on.
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