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inmyth

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Reputation Activity

  1. Thanks
    inmyth got a reaction from Javim777 in TokyoGateway, Mr Exchange Are Shutting Down   
    @tulo @Malloy Mr Exchange will stop deposits / new user sign ups on May 9 and cease operation on June 11.
  2. Thanks
    inmyth got a reaction from tulo in TokyoGateway, Mr Exchange Are Shutting Down   
    @tulo @Malloy Mr Exchange will stop deposits / new user sign ups on May 9 and cease operation on June 11.
  3. Sad
    inmyth got a reaction from robertbruce in TokyoGateway, Mr Exchange Are Shutting Down   
    https://cointelegraph.com/news/japan-2-bitcoin-exchanges-choose-shutdown-over-regulatory-compliance
    Mr Exchange statement : https://blog.mr.exchange/2018/03/29/news02/
    Mr Exchange, TokyoGateway (formerly TokyoJPY) are exchanges operating on ripple network for trading.  Japan's regulation requires exchanges to control user's access to blockchain while ripple net, being a distributed exchange, allows unrestricted XRP transfer. Apparently the gov't doesn't like it as it facilitates money laundering. So there goes the last Ripple gateway in Japan.
  4. Thanks
    inmyth got a reaction from Malloy in TokyoGateway, Mr Exchange Are Shutting Down   
    @tulo @Malloy Mr Exchange will stop deposits / new user sign ups on May 9 and cease operation on June 11.
  5. Thanks
    inmyth got a reaction from Zedy44 in Why does the value of Ripple (XRP) have to change? Why is it worth more than a common postage stamp?   
    That math only works if the fee stays at 10 drops. In reality fee escalation happens very often. During peak times it's not uncommon to see the fee go up to ~10k drops.

     
    Who's adjusting ? Ripple ? Ripple already has a mechanism to adjust global fee against network load. For users, fee can be set arbitrarily but if it's too low, transaction may get queued or fails to enter the ledger. 
  6. Sad
    inmyth got a reaction from flanman in TokyoGateway, Mr Exchange Are Shutting Down   
    https://cointelegraph.com/news/japan-2-bitcoin-exchanges-choose-shutdown-over-regulatory-compliance
    Mr Exchange statement : https://blog.mr.exchange/2018/03/29/news02/
    Mr Exchange, TokyoGateway (formerly TokyoJPY) are exchanges operating on ripple network for trading.  Japan's regulation requires exchanges to control user's access to blockchain while ripple net, being a distributed exchange, allows unrestricted XRP transfer. Apparently the gov't doesn't like it as it facilitates money laundering. So there goes the last Ripple gateway in Japan.
  7. Thanks
    inmyth got a reaction from Malloy in TokyoGateway, Mr Exchange Are Shutting Down   
    They will keep market making the IOUs for some time to allow non-users (those who only have trustlines) to cash out to XRP. Then they will refund all users.
  8. Thanks
    inmyth got a reaction from tulo in TokyoGateway, Mr Exchange Are Shutting Down   
    https://cointelegraph.com/news/japan-2-bitcoin-exchanges-choose-shutdown-over-regulatory-compliance
    Mr Exchange statement : https://blog.mr.exchange/2018/03/29/news02/
    Mr Exchange, TokyoGateway (formerly TokyoJPY) are exchanges operating on ripple network for trading.  Japan's regulation requires exchanges to control user's access to blockchain while ripple net, being a distributed exchange, allows unrestricted XRP transfer. Apparently the gov't doesn't like it as it facilitates money laundering. So there goes the last Ripple gateway in Japan.
  9. Thanks
    inmyth got a reaction from Malloy in TokyoGateway, Mr Exchange Are Shutting Down   
    https://cointelegraph.com/news/japan-2-bitcoin-exchanges-choose-shutdown-over-regulatory-compliance
    Mr Exchange statement : https://blog.mr.exchange/2018/03/29/news02/
    Mr Exchange, TokyoGateway (formerly TokyoJPY) are exchanges operating on ripple network for trading.  Japan's regulation requires exchanges to control user's access to blockchain while ripple net, being a distributed exchange, allows unrestricted XRP transfer. Apparently the gov't doesn't like it as it facilitates money laundering. So there goes the last Ripple gateway in Japan.
  10. Thanks
    inmyth got a reaction from NanamiIsLove in TokyoGateway, Mr Exchange Are Shutting Down   
    https://cointelegraph.com/news/japan-2-bitcoin-exchanges-choose-shutdown-over-regulatory-compliance
    Mr Exchange statement : https://blog.mr.exchange/2018/03/29/news02/
    Mr Exchange, TokyoGateway (formerly TokyoJPY) are exchanges operating on ripple network for trading.  Japan's regulation requires exchanges to control user's access to blockchain while ripple net, being a distributed exchange, allows unrestricted XRP transfer. Apparently the gov't doesn't like it as it facilitates money laundering. So there goes the last Ripple gateway in Japan.
  11. Thanks
    inmyth got a reaction from rippleJason in A lot of XRP burned on a single day in September   
    Firstly, please get your information correct. My bot did not cause it. The script you mentioned is here. Someone ran it, and lost a lot for fees. 
    https://github.com/ripple/ripple-lib/blob/develop/docs/samples/cancelall.js
    Secondly, this was an issue in rippled. It was addressed in 070.2
    https://github.com/ripple/rippled/releases/tag/0.70.2
     
     
  12. Haha
    inmyth got a reaction from Seoulite in Bitcoin and anti-regulation folks have found a new hero : The head of US regulator   
    Well, well, people who bash Ripple for working with the system are hailing the head of US regulator as a hero.
    I thought the dream of crypto currency is to liberate us all from tyranny of control and regulation.
    Never seen a guy receive so much love on a Bitcoin forum apart from Satoshi himself. 

     

    Yeah, lets.
  13. Haha
    inmyth got a reaction from RiverSong in Bitcoin and anti-regulation folks have found a new hero : The head of US regulator   
    Well, well, people who bash Ripple for working with the system are hailing the head of US regulator as a hero.
    I thought the dream of crypto currency is to liberate us all from tyranny of control and regulation.
    Never seen a guy receive so much love on a Bitcoin forum apart from Satoshi himself. 

     

    Yeah, lets.
  14. Haha
    inmyth got a reaction from CryptoGerrie in Bitcoin and anti-regulation folks have found a new hero : The head of US regulator   
    Well, well, people who bash Ripple for working with the system are hailing the head of US regulator as a hero.
    I thought the dream of crypto currency is to liberate us all from tyranny of control and regulation.
    Never seen a guy receive so much love on a Bitcoin forum apart from Satoshi himself. 

     

    Yeah, lets.
  15. Haha
    inmyth got a reaction from Paradigm in Bitcoin and anti-regulation folks have found a new hero : The head of US regulator   
    Well, well, people who bash Ripple for working with the system are hailing the head of US regulator as a hero.
    I thought the dream of crypto currency is to liberate us all from tyranny of control and regulation.
    Never seen a guy receive so much love on a Bitcoin forum apart from Satoshi himself. 

     

    Yeah, lets.
  16. Haha
    inmyth got a reaction from Malloy in Bitcoin and anti-regulation folks have found a new hero : The head of US regulator   
    Well, well, people who bash Ripple for working with the system are hailing the head of US regulator as a hero.
    I thought the dream of crypto currency is to liberate us all from tyranny of control and regulation.
    Never seen a guy receive so much love on a Bitcoin forum apart from Satoshi himself. 

     

    Yeah, lets.
  17. Haha
    inmyth got a reaction from matter82 in Bitcoin and anti-regulation folks have found a new hero : The head of US regulator   
    Well, well, people who bash Ripple for working with the system are hailing the head of US regulator as a hero.
    I thought the dream of crypto currency is to liberate us all from tyranny of control and regulation.
    Never seen a guy receive so much love on a Bitcoin forum apart from Satoshi himself. 

     

    Yeah, lets.
  18. Thanks
    inmyth got a reaction from teddybear in How can one become a Liquidity Provider for XRP?   
    If you want to be an exchange that issues IOUs on Ripple net maybe Ripple Labs would be nice enough to give you some XRP for starter. I'm working at such exchange and they gave us lots of XRP a few years back when it's cheaper than dirt. 
     
  19. Like
    inmyth got a reaction from Apollo in Partnered with banks?! So what??   
    Lightning Network would kill Litecoin. There is one and one thing only you can do on Bitcoin network and that is payment.
    Can you do something like this on Bitcoin ?
     

  20. Like
    inmyth got a reaction from one_giant_leap in Ripple is a DEX. Why doesn't anyone mention it ?   
    These days with all Ripple madness going on, I noticed no media explores what Ripple is. All they care about is XRP and that Ripple is a "centralized Bitcoin".  
    Ripple is a Dex, a distributed exchange where anyone can run an exchange. Sort of out-of-the-box Poloniex. Sure there is no mining, but as these exchanges are interconnected the money comes from arbitraging and market making. And each transaction consumes XRP whose amount goes up as the network gets busier. And XRP used as fee is destroyed. The inevitable scarcity is what draws investors or if you may, speculators in.
    Btw, can you even place an order on Bitcoin network ?
  21. Like
    inmyth got a reaction from Oldschool in Ripple is a DEX. Why doesn't anyone mention it ?   
    These days with all Ripple madness going on, I noticed no media explores what Ripple is. All they care about is XRP and that Ripple is a "centralized Bitcoin".  
    Ripple is a Dex, a distributed exchange where anyone can run an exchange. Sort of out-of-the-box Poloniex. Sure there is no mining, but as these exchanges are interconnected the money comes from arbitraging and market making. And each transaction consumes XRP whose amount goes up as the network gets busier. And XRP used as fee is destroyed. The inevitable scarcity is what draws investors or if you may, speculators in.
    Btw, can you even place an order on Bitcoin network ?
  22. Like
    inmyth got a reaction from Drew in Ripple is a DEX. Why doesn't anyone mention it ?   
    These days with all Ripple madness going on, I noticed no media explores what Ripple is. All they care about is XRP and that Ripple is a "centralized Bitcoin".  
    Ripple is a Dex, a distributed exchange where anyone can run an exchange. Sort of out-of-the-box Poloniex. Sure there is no mining, but as these exchanges are interconnected the money comes from arbitraging and market making. And each transaction consumes XRP whose amount goes up as the network gets busier. And XRP used as fee is destroyed. The inevitable scarcity is what draws investors or if you may, speculators in.
    Btw, can you even place an order on Bitcoin network ?
  23. Like
    inmyth got a reaction from Khaleesi in Ripple is a DEX. Why doesn't anyone mention it ?   
    These days with all Ripple madness going on, I noticed no media explores what Ripple is. All they care about is XRP and that Ripple is a "centralized Bitcoin".  
    Ripple is a Dex, a distributed exchange where anyone can run an exchange. Sort of out-of-the-box Poloniex. Sure there is no mining, but as these exchanges are interconnected the money comes from arbitraging and market making. And each transaction consumes XRP whose amount goes up as the network gets busier. And XRP used as fee is destroyed. The inevitable scarcity is what draws investors or if you may, speculators in.
    Btw, can you even place an order on Bitcoin network ?
  24. Like
    inmyth got a reaction from Messier16 in Ripple is a DEX. Why doesn't anyone mention it ?   
    These days with all Ripple madness going on, I noticed no media explores what Ripple is. All they care about is XRP and that Ripple is a "centralized Bitcoin".  
    Ripple is a Dex, a distributed exchange where anyone can run an exchange. Sort of out-of-the-box Poloniex. Sure there is no mining, but as these exchanges are interconnected the money comes from arbitraging and market making. And each transaction consumes XRP whose amount goes up as the network gets busier. And XRP used as fee is destroyed. The inevitable scarcity is what draws investors or if you may, speculators in.
    Btw, can you even place an order on Bitcoin network ?
  25. Like
    inmyth got a reaction from Deux in Ripple is a DEX. Why doesn't anyone mention it ?   
    These days with all Ripple madness going on, I noticed no media explores what Ripple is. All they care about is XRP and that Ripple is a "centralized Bitcoin".  
    Ripple is a Dex, a distributed exchange where anyone can run an exchange. Sort of out-of-the-box Poloniex. Sure there is no mining, but as these exchanges are interconnected the money comes from arbitraging and market making. And each transaction consumes XRP whose amount goes up as the network gets busier. And XRP used as fee is destroyed. The inevitable scarcity is what draws investors or if you may, speculators in.
    Btw, can you even place an order on Bitcoin network ?
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