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Everything posted by Amigo

  1. I’m not a banker but there seem to be a series of flaws in her story: - She claims for every nostro account there is equivalent vostro account. I think that’s incorect as transfer corridors are never symmetric; a bank needs wat bigger nostro accounts in countries where there clients want to send money to than comes back. Also she claims they are debts instead of actual funds. The whole idea is the exact opposite; a bank has to have actual funds where it needs those available at any time. - She claims that banks don't want to have large nostro balances anymore because of low interest rates on those accounts but she later refererences statements that those balances are on the rise because the big increase of cross border transactions. This IS the whole point; banks don’t WANt them yet the NEED them because there is no other option (yet xRapidto the rescue). - She claims that nostro capital is not dormant as it is there waiting for a payment to be made. But waiting IS dormant. If I'm stuck daily in a traffic jam I could claim all that time I was 'on the move' but in fact it was a lot of wasted time. Also she claims that it's there for a short time, but that does not fit her claim that banks benefitted significantly from interest given on those funds and that would not be the case if funds are just there for a short time. Sure banks will aim to make them as efficient as possible but in the end, there IS capital locked overseas during the year. - She mentions the banks' exposure to fx risk if they would use XRP. But the whole idea that fx risks can be avoided as a bank does not have to prefund nostro's anymore and leaves the fx risk to their client who wants to make a payment at that very moment (with transparent rates at that very moment and the client has the choice to cancel if he does not agree on the given rates). - To wrap up a note that, as already mentioned in this thread, focussing on the USD/EUR corridor throughout the article seems off topic as it is generally known that Ripple is not aiming at that (already liquid / balanced) corridor to make the difference (at this moment). Ripple is primary aiming on other ones or even series of them through multihop features. It would serve her readers if people get that broad picture and context instead of making her point on the wrong corridor and even framing Ripples usecase to circumvent sanctions. She is coloured and clearly wants to disprove Ripple’s usecase. Which is good to keep people sharp. But No worries here ;).
  2. Some concrete steps here..(?) https://www.theblockcrypto.com/tiny/olympic-dreams-japan-has-high-hopes-for-a-blockchain-based-consumer-payment-network/
  3. News is swelling a bit about a Bakkt application to convert digital assets at Starbucks-payments and they will market it significantly https://abacusjournal.com/bakkt-behind-the-pending-launch-faced-with-an-unexpected-delay-bakkt-prepares-massive-roll-out-and-marketing-blitz/ About a year ago, the executive chairman of Starbucks mentioned that cryptocurrencies are coming, yet ruling out bitcoin https://www.cnbc.com/2018/01/26/starbucks-schultz-a-digital-currency-is-coming-but-wont-be-bitcoin.html In august, Starbucks mentioned that paying directly with assets like bitcoin will not be the case, but there will be an exchange step in between. http://fortune.com/2018/08/06/starbucks-accepting-bitcoin/ Now, obviously Bitcoin transaction costs are at most moments too expensive and the involved speed too slow to make it usable to pay a cup of coffee. Bakkt could off course offer an app with which you can "upload some value in Bitcoin to a Starbucks wallet" yet convert it to USD at that very moment, but that's zero innovative and in essence creating consumer-mini-nostro-USD accounts at retailer businesses. As Bakkt is handling things carefully and will have done their homework, my take is that Bakkt will offer some form of XRP-integration as it's basically the only liquid coin with enough speed and low transaction costs enabling instant conversions (enabling sort of an xRapid for retail payments). PS. With the additional 51% attack risks of Proof-of-Work coins like Bitcoin I still find it odd that financial products like futures and ETF's are requested for approval for bitcoin only and similar products for XRP are not being applied for approval. But I guess that's food for another topic.
  4. Next to quite some conversion into XRP, I guess a LOT of capital ran with significant losses into stablecoins. XRP obviously showed quite some strength in this massive bear run. If it holds a bit longer and starts crawling back, I can imagine a lot of people will run into XRP in order to make up a bit for the masses. It could all be part of the decoupling scenario.
  5. For sure..! And he enjoys Twitter and therefor I don’t think he’s annoyed by the loads of calls to adopt XRP as a base. I think he finds the attention for his exchange amusing, and I think he is less addicted to the BTC-one-and-only-gospel compared to the Winklevoss Twins or TuurDeMeester. I think he would enjoy it to just do it (of course only of in the first place it would benefit Binance’s position which it will).
  6. The world's 1st #Crypto ETF starts trading next week on Europe's 4th largest exchange with a $1.6 trillion market cap. Interesting to note that 48% of the fund is $BTC & 30% is $XRP. https://www.trustnodes.com/2018/11/17/switzerland-green-lights-worlds-first-crypto-etf-to-be-listed-next-week
  7. As I posted in another thread as well, the hash war that causes tje current uncertainty will put many to think and realize that POW is not the way forward. It will have institutional investors to think twice where to put their bets on. It l's all part of decoupling XRP from the rest. Let this stormy sea do some rinseing, it's about time.
  8. This hash war will put many to think and realize that POW is not the way forward. It will have institutional investors to think twice where to put their bets on. All part of decoupling XRP from the rest. Let this stormy sea do some rinseing, it's about time.
  9. It is kind of strange, and I guess going after coders or issuers too hard could push things even more underground and harder to grasp (as distributed systems can pop up everywhere). So it’s a thin line (for both parties). I THINK what the SEC wants is people or entities to approach them actively (they stated more than once ‘come and see us and we’ll talk about it’) in stead of waiting, leaving the SEC no other choice or tempting them to show some teeth. Entities CAN get a licence (like Coinbase) or maybe left to be for a while with certain agreed restrictions in order to sort things out or put some changes into work within a period of time. I guess this is why working with them, although from a libertarian perspective not too tasty, probably is a smart thing to do (like Ripple also does), giving all parties a chance to learn. And indeed new rules should be written. Enforcement only is not a good ground for innovation.
  10. Ehm.. not sure what you're aiming for with your website. Playing with the code is great for your experience, but if you're aiming at people using your service, asking them to enter a private key on a website should never be done. The same accounts for generating addresses / keypairs online, as (for example you) can eavesdrop on that and have acces to the funds afterwards. Such functions should be done in an offline environment.
  11. The slowest link in the chain will always be a problem and depends in this case on your local payment rails. It can be just your bank (keeping it locked for use for a day) while another bank might not (so maybe try another bank;). But the slowest ones (international paths) will be cut out. Payment providers (like in this case Mercury effects) will make sure that their bank will not hold up their payment order for a day. And that competition will drive banks to offer the same speeds on that last mile.
  12. Great illustration of a possible payment path using different Ripple products. And at the same time, very easy to imagine that one can plug in additional ones for corridors that are even less obvious or direct, just like the Internet of Value is supposed to do. Email does not get much slower passing a variety of routers, and a payment won't also. The dial up payment era is over.
  13. Btw she also mentions they are trying blockchain out with R3 and for funds even on (again) another blockchain. They are exploring and going for it which is really good.
  14. Not insignificant fact: using XRP as a base currency serves an actual additional independent use case (bridging currencies within the exchange as between exchanges by market makers), pushing it further away from theories that XRP is a Ripple Security.
  15. I guess that’s why he is in charge and you are not ?. Business is all about making the right alliances at the right moment. If emotions would be in the way at Ripple and R3 HQs preventing them to (re)engage a winwin deal - and Kitao made them do it anyway, I forgive him for hiring the serial tweeter to manage his Twitter account, and declare Kitao hero of the week ?.
  16. I don’t really care if XRP gets listed on Coinbase or not, as the only reason I’m in XRP is its use case. In the end that will be key to hold and gain value; not speculative trading only. The latter has put the broad cryptomarket in overshoot anyway. My take is that whatever emotions there might exist (or not) at Coinbase HQ, they will know that XRP’s chances are quite good (because of the tech, the use case, the community and Ripple doing really well globally), and they know it will backfire tremendously not offering XRP when it will fly (and remain flying) again. I think they have anticipated on that during the last six months with all involved groundwork and implementations already ready. Call me ignorant but I even think they will offer XRP as a base currency as well in order to leverage its use (though for example moneymakers) to its maximum potential. And if I’m wrong, I don’t care like I mentioned. Exchanges like Binance already have taken the lead in the thriving the landscape anyway. It’s Coinbase’s miss in that case, not hours, and let them stick with being a speculation only platform.
  17. The pic is legit but he accidently choose the wrong one while teeting, as this is the one he ment (I guess)
  18. Related video with subtitles (thanks to @BANKXRP )
  19. This☝️ and what if R3 and Ripple were steered towards some form of cooperation.. o wait
  20. This is quite interesting, especially the bold part (machine translated): https://jp.cointelegraph.com/news/sbi-kitao-ceo-reveals-the-plan-for-lauching-sbi-r3-asia/ SBI Ripple Following Asia SBI-R3 Motivation for the creation of Asia, President Kitao mentioned at earnings briefing Yoshitaka Kitao, president and CEO of SBI Holdings, mentioned the plan for the creation of SBI-R3 Asia on the account settlement meeting on 30th October, the second quarter of 2019 (April - September 2018) . President Kitao who worked to resolve the case problem of ripple and block chain development company R 3 company said that he would like to make R 3 company to create a project to use virtual currency XRP. Regarding the virtual currency trading business, he said that he will take in young users by using T points. Ripple to R3 and R3 settlement to establish SBI-R3 Asia On April 4, SBI Ripple Asia's secretariat, "Internal and external exchange consortium" released a money handling application "money tap" for smartphone that utilized Ripple's Distributed Ledger Technology (DLT) "xCurrent" . The future is in the phase of expanding participation lines. SBI, which holds about 10% of the shares of Ripple, emphasized that "ripple's DLT or XRP will be used to streamline international remittance" as implemented by Ripple's technology in money taps. President Kitao also mentioned the settlement of Ripple with the R3 company that develops block chains. SBI is the outside largest shareholder of R3, and as soon as it reveals that the top of both companies has pressed for a litigation problem closely . In the earnings briefing session, he said that discussions have started for the creation of SBI-R3 Asia. "You will have to make such a project that will make R3 use XRP in earnest.When the two companies hold their hands it will be possible to cover almost all fields.In addition to international remittances, XRP There is the possibility that it will be widely used.We are discussing with SBI R3 in order to create SBI-R3 Asia similar to SBI Ripple Asia. " Promotion of virtual currency trading of young people at T point, competition is Rakuten SBI SECURITIES established a joint venture company "SBI NeoMobile Securities" on 30th, signing a capital and business alliance with CCC Marketing of the C - Ture Convenience Club (CCC) group with 67.88 million active members . Provide financial services with smartphone as the main channel. We plan to realize T points according to transactions and purchase financial products by points, and we will introduce T point programs in various businesses that SBI develops, such as banks, securities, remittances. About the virtual currency exchange "VCTRADE" operated by SBI virtual currency seeds President Kitao "I want to take in the young generation thoroughly, of course I am planning to do it even in the virtual currency so that virtual currency can be bought at points Let's do it. " Also, "I want to build an SBI-T point economic zone that goes beyond the Rakuten economic zone," there was a comment reminiscent of Rakuten announcing entry into the virtual currency trading business on August 31. SBI Neo Mobile Securities will start business next spring.
  21. And not to forget: the bigger we can make the usage of the XRPTipBot, the less traction there will be for those who claim XRP to be a security of Ripple. So EVERYONE on this forum should boost usage in everyway they can.. Sonsee if you can tempt some major twitter people to call for it or check it out.. get all of your friends to use it.. tip your restaurant or bar the comming months through tweets only and refer them to put up a QR code for their restaurant or individual personnel as well, etc. If you ever wondered what you can do for XRP in stead of the other way around, this is it!! Let’s don this!!!
  22. Well to a certain extend hypes are not ment to be understood... ?. Pogoballs, looming, fidget spinners.. they are for the fun of it mostly and maybe technically not even the most complex ones.. yet very hard to time it into a market. In this case I think it is not even ment as a commercial idea but more developed as a technical challenge, yet I do think it is (unintentionally) very well timed and could take of big time. What other thing is out there to tip somebody through a tweet (whilst Twitter is so broadly used) and the receiver is able to actually moneytize it if needed, or retip it bolstering adoption even further. Combined with a geek user base like us starting it off towards potential mass adoption (beyond complimenting tweets, so for example restautants).. that would be so funny and crazy.. just like hypes should be ?.
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