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Apollo

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  1. My biggest issue with applying Howey is that it could be read to favor Cryptos using POW... which don't scale. This could prevent crypto from addressing use cases that require high throughput or fast transactions.
  2. The standard test used for nonstandard securities under US Law is the Howey test. https://www.investopedia.com/terms/h/howey-test.asp It has functioned as a catch-all in the securities context. XRP might be considered a sec under that test. Hopefully, regulators/courts don't apply that test or don't apply a broad interpretation of it. There is also some possibility of congressional action. It is true that XRP could be ruled a sec under that test but I think that would be very bad for the space as a whole.
  3. Apollo

    First(2nd...) post and question on IOU's

    You can only send IOU's to wallets that have an open trust line to that specific issuer for that IOU. If you send an IOU to someone who does not trust the issuer then Ripple will use it's pathfinding feature to make the payment in something that wallet can hold. Ie. it will be converted to XRP or a different IOU depending on what you choose. Keep in mind that this conversion uses open offers in the XRPL decentralized exchange. Thus, if you are sending illiquid assets you can lose a lot in the conversion. An IOU is a debt from the issuer. You can only know if the issuer is trustable through your own due diligence. Bitstamp and Gatehub have been around a while, which is a good sign. I would not Hold IOU's unless you have investigated the issuer and think they are worthy of your trust. Destination tags or invoice IDs are used by some exchanges. You have to check with the exchange to see how they want things formatted. If they accept XRP or IOU's they should have instructions on their website. The same goes for where to send IOU's to redeem them. You have to check with the issuer. Unless you are market making or doing arbitrage you really only need one kind of IOU. If you pick a liquid IOU than you can use pathfinding to pay others in assets they will accept.
  4. The bad topology news was already in a published paper. Although, Ripple didn't wave it around. Ethen said the idea of cobalt was conceived starting around December 2017, and they had not started rewriting code but will very soon. The consensus parts apparently have to be completely redone, but most of the transaction code (which is most of Rippled) stays as is. Still will be a very big project. Programming for decentralized open systems is very slow because of security issues. I would be surprised to see this released before 2020. But who knows. Also, looks like 1-1.5 sec TX range is, in fact, possible with Cobalt. I think throughput might be somewhere in the 8-25K TPS ranger per transaction network and Cobalt can run multiple transaction networks. (a bit of guesswork for this number but I am pretty confident it is ballpark)
  5. Ripple hasn't started rewriting the code yet. Once they do ("very soon") it will probably take a couple yearsish to go live. It should be faster than XRP is now, although most of the latency is made up of simple TX processing so faster consensus won't help that. My uneducated guess is somewhere in 2.5-3.3 range. There might be benchmarks for private systems like honeybadger floating around. I think XRP should be able to get close to that, but keep in mind those benchmarks will probably be running much simpler transactions. Edit: Well looks like some private blockchains are faster than I thought so I might revise that estimate down a bit.
  6. Apollo

    XRP FUD from Stellar's Jed McCaleb

    Tell that to Jed and all the holders he lied to and dumped on. Zerpers only care about Jed because 1. he tried as hard as he could to kill XRP, and 2. the man keeps lying and spreading misinformation about both Stellar and Ripple.
  7. Apollo

    Who Designed The Ripple Logo?

    Frederick T. Spinner, but I think he goes by Fidget.
  8. @XRPTrump is back. @Rabbit_Kick_Club still ban.
  9. Can you post other ban handles here with are from reputable accounts which need support?
  10. Good news terrible article.
  11. To be fair XRP was $.006 at the time and R3 was telling Ripple all about how they had B of A, GS and others ready to use XRP. If R3 had been telling the truth and acted in good faith we would probably be looking at a $5 XRP right now. As it turns out Ripple got conned. That sucks, but I tend to blame the wrongdoer and not the victim in such situations. Often in life, you have to extend some trust and take on some risk to achieve big things. It did not work out in this case, but the fat lady hasn't sung yet.
  12. I think It should have little effect on the price. There are pretty strict volume limitations so if R3 has 5 brain cells to rub together they would try to rais the value of that stash (ie. publicly support XRP build XRP product, sell institutions on XRP and then sell slowly OTC ) and not pull a Jed. The volume limitations stop them from dumping or probably even selling over a 3-year time frame so the incentive is BIG IMO.
  13. I gave the Cobalt paper a quick read but I haven't been able to find the time to attack the other one. Sadly, it was way over my head but was still well worth the read. If you have question author @emacbrough on Twitter has been kind enough to answer questions... even my slightly illiterate ones.
  14. Apollo

    How scalable is Ripple's TPS???

    JK once told me the biggest limiting factor was that you can't effectively process large numbers of TX at once because TX may alter the state of other TX. Thus you have to process them more or less in sequence. This limits the amount of parallelization validators can take advantage of.
  15. The Cobalt White paper explicitly states it will be used for XRP.
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