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Tinyaccount

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Tinyaccount last won the day on November 17 2018

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  1. Um, er, I could be way wrong... but isn’t the last four characters just the checksum? In other words not part of the actual secret but simply calculated from it? So someone with the secret less the last four chars, could just recalculate the checksum and add that to the back and have the entire secret key? Hopefully someone will correct me if I’m wrong.
  2. That was an excellent summation. Nicely done. You are a credit to this forum.
  3. I’m not sure... but it was my impression that the volume involved was the volume of the exchange used... (I think Bitstamp). If that’s correct then fake is not an issue because Bitstamp is widely considered as solid. I did just read that Bob Way has never heard this raised as an issue by the folk he knows... which implies Ripple are not concerned about it, which implies that the volume figure used is NOT a fake one. Sorry that I can’t be sure about this... but it’s not something that bothers me because people I trust like Bob are not bothered about it.
  4. Yes I can see that is an option. However it may be that it would be a shortsighted move... there may be good reasons to have the total available remain up towards 100 billion. I realise full well that each XRP can be a million drops and so after that destruction the system could still function as envisaged for at least its first main use case... a bridge currency. However... and it is a huge however, right now we know that Ripple have a huge war chest of funds.. and a disconnect from the need to be instantly profitable and manage a tight cash flow. These are huge advantages over any other team. We would be throwing that away if you idea was followed. And for what? To prematurely try and spike the price upwards? In what would no doubt be the prelude to a massive correction? On top of that, and now heading into speculative territory... It’s entirely possible that this large pool of XRP serves a special function as yet unrevealed. No thanks... I prefer to trust Ripple know exactly what they are doing and so I vote not for your idea, but for theirs. Of course my opinion matters as much to you and to Ripple as it does to my wife... sigh....
  5. Yes absolutely true. We obviously hold a different view with the same data. Not an uncommon situation. See I think Brad is probably at the mercy of mercurial customers. I feel sure he believes his statement and then something changes and it doesn’t come to pass. He can’t defend himself at the expense of the customer. But my read on him is that he is a honest man. So I’m confident that unless things go pear shaped there WILL be a good number of banks on board this year. (It wouldn’t surprise me if their initial volumes are low though so they can take baby steps towards full usage. ) On the other hand even one of them going full tilt would probably drag the others into the same mode as competition forces behaviours. See that’s the difference right there... a delay in onboarding XRP is NOT catastrophic for the banks.. in fact it’s just Business As Usual. So any wrinkles in anything is probably enough to scare the horses into a delay. Again we differ... I seriously doubt they are a joke. More likely is the requirements or environment keep changing. I have seen software delayed by multiple years as requirements and the surrounding enviroment changed and required a new direction. I think it’s a big mistake to underestimate the competitive capacities of any Japanese enterprise. Their national game is not chess... it is Go... a game of territorial skill and hidden preparations.
  6. Ah yes but that is now. The current speed of anything that has a lag phase is never quick at the start. And it is the reason that I was able to buy some. It has been distributed to me, a willing participant in this ecosystem. It’s not perfectly fair that I could buy some where a farmer in Nigeria didn’t buy any because he has no spare funds and probably hasn’t heard of it. But is as fair a scheme as I’ve heard of so far in this space. As I understand it that claim is old and was true when they were much smaller. Now they are frantically scaling up worldwide, and their costs would no doubt be exploding. So these sales that some are decrying are the thing enabling Ripple to push through resistance and get XRP embedded in world finance. Money well spent and I’m glad they are doing it. It reminds me of someone standing on the Formula One track at the back end of the course, just before the race starts, saying “see?... what did I tell you... not a damn thing happening.” What doesn’t feel right to me is thinking that everything can happen quickly and that we will be fully informed every step of the way. Anyone whose ever been involved in large enterprise projects will be aware that all sorts of delays can occur and that from the outside it looks like nothing is happening until suddenly it’s all there in public.
  7. I don’t know about any of that... I’m confused and bowing out.
  8. Really? There are still people on earth who think like that? I had hoped that kind of unenlightened view was extinct.
  9. Yeah but don’t forget that nostalgia paints everything in a rosy glow.... in fact the older I get the better I was in sports when I was younger...
  10. I’ve seen you say this multiple times in multiple places of late... Here is something I said about Ripple XRP sales elsewhere recently... Can you please consider answering the question I ask at the end about how you would do it? “Fair distribution of a cryptocurrency is a non-trivial problem. A lot has been said and done in that area and there have been some notable fails.  The fairest way that I know of is to sell it at market price. Many others, including Ripple, agree. Accordingly they sell programmatically at market value in small volume as the market can absorb without affecting the price too much. I’ve seen estimates that it may contribute to a fraction of a cent difference. They also sell at market, viaOTC, which does not directly or immediately affect price... in fact it mighteventually contribute to price rises as some of the entities that they sell to start bringing actual usage to the ecosystem. If you think that is “dumping” then I wonder what you would do instead? Talk about being damned if you do, and damned if you don’t....”
  11. There have been data errors on all crypto reporting sites over the years. It’s certainly wouldn’t be the first time the charting was wrong. So we can’t be sure what it is yet. But it is certainly not Cobalt.
  12. If I do repeat posts I just leave the first one alone but edit the subsequent ones down to just a [sorry, duplicate post] marker. The edit button is bottom left of all posts we make.
  13. Actually, in my post I said if you had sent 15 xrp to the address you wouldn’t be able to send out... but in reality I don’t think you can send fifteen.... I think you need to send at least the reserve amount or the tran will fail. It’s not critical to the point but it was a bad choice of example... sorry about that.
  14. Forgive me... but I disagree. I’m not sure why this topic was started, but only a foolish bear would figure that he could learn anything about the market sentiment by asking on this forum. It is by definition a biased selection and also our opinions are insignificant in the face of market forces. I continually see people thinking that opinions on here matter to the market. I’ve never heard anything less likely to be true in my life. I was once accused of shilling here to try to support market price. It was ludicrous for a number of reasons, but the most significant was the fact that I don’t believe any of us saying anything could have one smidgeon of an effect on the price. To believe otherwise is to grossly overestimate our importance, and wildly underestimate the number and variety of market participants. So I can’t believe a “bear” is taking our temperature... unless he is an idgit.
  15. There is a one way door between a secret key and the address that it encodes. Once you have a secret key you have an address. But anyone who knows an address can’t go back through the door and see the secret. That address is one point on an elliptical curve. There are umpteen zillions of those points. (Think ‘every atom in the universe’ many). So if you make a secret key, with a random input, (which all wallet software will do for you), there is essentially no chance that anyone else has that key and therefore that address. Now that address exists just like all integer numbers exist... it’s not useful until it’s used. The fact that you have the key for that address doesn’t mean didley squat. It’s of no use to you. Unless you choose to use it as a place to park some XRP. Or have someone pay you some XRP to that address. Then it’s useful. It’s a little hidey hole for your XRP to sit in until you want to move them. Now the XRP ledger has some rules... one is that it won’t accept a transaction that sends to a invalid address. So not every random sequence of 28 to 34 characters is an actual address on that curve. So your address, that no one else has the key to, is a valid place to send XRP towards. So the person paid you some XRP or you moved XRP from an exchange to that address... and it was accepted as a valid tran by the ledger. Ok, what if you want to move the XRP from that address to elsewhere... fine go ahead. BUT... the ledger has a wallet address reserve amount rule. It says that a transaction is invalid if it leaves less than the reserve amount in the address. The reserve amount is currently 20 XRP. So if you only sent 15... well... unfortunately they can’t be sent elsewhere. Unless you send a few more to get over the reserve amount. If however, you had sent 77 XRP you CAN make a valid transaction that moves 57 XRP out. There is a tiny fee that must be allowed for.. so you can’t quite send 57... ( 56.9999 or something like that should work though...) So... to finally answer you question... and I apologise for my long-windedness... To activate means to have placed at least the reserve amount into the address. If someone else did that for you, then it was either a kindness or a paid service or a loan.... there is no relationship between “activator” and “secret key holder” other than whatever they agree to themselves... there certainly is no enforced ledger rule about it. And the activator has no capacity to do anything further to that address (or wallet as it is confusingly called). There is no “owner” of an address beyond whatever legal stipulations are made in the country(s) of the people involved. There is simply an address and a key to that address. No transaction involving that address, other than sending in, can be done without that secret key. I hope I didn’t send any readers ( if any) to sleep...
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