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Tinyaccount

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  1. The Myth of Market Cap

    One thing to be careful of is that sometimes people think the market cap grew by X which means X dollars flew in. So in the case above you might tend to think that $70billion came into the market. Probably our NoblePoultry friend didn't think that... but some readers might. In fact all things being equal, it does mean new money did come in but not 70 biguns.
  2. Gatehub hack and changes affecting us

    Ah... I'm with you now.... you were phished or hacked out a significant load of XRP. I understand your frustration. I am not an expert but as I understand it..... if you were tricked by a phishing exploit, or by social engineering of your 2FA then unfortunately you have no recourse and it's not at all Gatehubs' fault. On the other hand if your coins went because of the recent hack that Gatehub suffered, then I was under the impression that they had accepted responsibility and were refunding the lost coins to anyone affected. If you can ask Gatehub which category you fall into, or if you know already, it might clarify things for you a bit. I certainly understand how tricky and uncertain this murky wild west of crypto is at the moment for those of us bold (or foolish?) enough to invest. None of us are truly safe except those few highly skilled technical folk who deeply understand the underlying technologies. Unfortunately the situation is nearly the classic example of high reward means high risk. From my read of the Gatehub enterprise they seem to be fair players who are trying to do the right things. I hope that you fall into the refundable category. Good luck with it.
  3. Ah I see... thanks for clarifying. Yeah the Alt/BTC pair idea is so ingrained I didn't consider that as a possibly changeable factor. Interesting idea. I have no idea how you bootstrap that XRP/AltCoin order book, but I suppose its just a matter of investing in a bunch and then making them available as sell orders. The exchange could now have Amex direct XRP one click buys as the easy road in for the new purchaser. That would certainly be a big obstacle removal right there. Cool idea... I hope it flies. Thanks.
  4. I'm not sure how that would be any different to existing exchanges.... what do you mean instead of Bitcoin?
  5. Gatehub hack and changes affecting us

    Sorry mate... for those of us who haven't been following every aspect of your life... what is the problem exactly?
  6. The problem will be twofold... the crash if it happens for tether will be fast... the 1for1 won't hold and it will be worth cents in minutes. The second problem is Kraken historically struggles at high load times and so even if you are fast it might not submit your trade... So I think you should be aware there is probably no safety net.
  7. You are absolutely correct.... I agree we should never attempt to smother other views by demanding citations for every assertion (and any attempt to stifle your views would, I am sure, be met with a wall of logic.. ) I do not demand anything of you and only wished to present the other side of the argument.... My view is that there is more evidence on my side than yours but I have been wrong so many times it's nearly a habit... As far as I'm concerned anyone reading the previous discussions (and I thank all who contributed for adding value to our site) has enough details to make their own mind up. I will admit your belief is easier to swallow since it really does look like Ripple keep the price low.... but I am certain that is just a misleading circumstance.... and possibly, hopefully, a very short term one....
  8. Which is fine for you two, but anyone reading your plausible statements that Ripple keep the price low without realising that it is only your circumstantial belief would act on incomplete information. That's why I think it's necessary to supply the evidence to the contrary and make the argument that Ripple: actually want the price significantly higher intervene only to support if XRP is attacked (as it was by Jed) have no incentive to keep a low price Also for a Financial Institution: the actual price of XRP is irrelevant transactionally except as it affects liquidity (where higher is actually better) may or may not be hoarding some in hopes of capital gain but as a seperate exercise to daily payments processing if hoarding they definitely want a higher price (which won't upset the payments team one IOTA.). So although the peculiar dynamics of the XRP market make it appear plausible.... there is no basis for the belief and there are many many Ripple statements to the direct contrary.
  9. No I didn't miss it... I just didn't have time to address every point so I only spoke to your main one. I think you are probably a big holder of XRP and I've seen many of your posts that are informed and illuminating. I respect your insights and think you are mostly correct whenever I've read your posts. But I believe you are mistaken in this. An FI involved in payments has a business need to process payments. If XRapid can reduce costs and improve the transactions very nature then if regulation is sorted they will go for it. If some portion of the enterprise also sees value in accumulating XRP as an asset for capital gain then that business portion also will go for it. The FI is not a one-armed paper hanger.... they can do multiple things simultaneously. If you wish to argue that the two segments of the business would be in a tug of war over the Zerp pile then I would suggest that the Payments section will probably always have precedence since they are core and their need is more immediate. So I don't believe that a rising price in any way would slow down FI usage. If it did then the whole model is broken because there definitely will be future times where the price does rise based on increasing usage. If you were correct the FI would stop using and start hoarding... presumably telling their payments customers "bad luck" the Zerps are too precious.
  10. Santander, AMEX, Ripple

    No "might" about it.... it's a certainty. This is the start of XRP usage.... crawl, walk, run. Starting to crawl now. My guess.... Walking by early 2018, running by mid to late 2018. If Ripple sign any institution it means there is now a connection wherever that institution trades. As more connections become available the case for using XRP gets stronger and stronger. There is absolutely no technical hurdle left to XRP usage after joining RippleNet even if only initially using XCurrent. At a certain point it would be senseless NOT to use XRP. If they join Ripple then calculate their cross-border volume and add that into imminent future XRP usage. It's a done deal.
  11. I'm sorry but I think that is incorrect. These folk act for themselves... there is no arbiter rewarding the level playing field. None of those types of arguments make any sense. For a start there is the fact that a FI doesn't have to hold XRP at all. They can simply use the market makers as required. Secondly each institution makes its decisions based on its current circumstances... there is no reward for any party to make things fair. I still have not seen any reason why Ripple is incentivised to make a single price band for all players. I also haven't seen a reason why a FI would want it fair for others. In fact normal business practice is that there are some early adopters who benefit more than later ones. So a steadily rising price or even a jerkily rising price still fits Ripples and the Individual FI's agendas. If the requirement is to get XRP distributed a rising price will pull more new money in than a static one. I am happy to be shown as wrong or to be shown possible incentives for a steady price from ANY party, but I don't think I've heard one yet.
  12. Yes but the bit I highlighted is the bit I am questioning. It's the basic and flawed assumption running through the whole Ripple price debate... that every FI should get into XRP and that they should get in at the same price. I've never heard a rational for why that would be so. Unless Ripples presentations to FI's are carved in stone and then gold-leafed I can't see why they would want everyone entering at the same price. Still waiting to ever hear a reason why that would be so.
  13. So what? Why does everyone seem to think Ripple are some sort of arbiter who wants everyone to get exactly the same windfall capital gains profit regardless of when they join? This is the core incorrect assumption in all the 'Ripple keeps the price down' discussions. Why would they do that?
  14. Crypto is a Bubble

    Oh wow.... I didn't realise that. So that's in the reporting... what about the trades? I understand that when you sell a coin on Bitfinex for USD you are actually selling one IOU for another.... but I thought/think? it was for a USD IOU not a USDT IOU. Although as I write this I realise that both are at risk if the exchange dies. I wouldn't want to be holding an IOU in a collapse trying to argue it's a better IOU than the other one.... And thinking more about it I suppose if Tether was the conceit to allow bypassing financial fiat laws then perhaps all the trading is in the conceit rather than fiat. My dabble in IOTA was riskier than I thought....
  15. Global Financial Regulatory Findings

    They are certainly appreciated. There are many times that you have provided important and useful information and links ( both semantic and hyper ) that have clarified, highlighted and informed discussions. I for one, salute you good sir, and say thanks very much for your efforts.
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