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Posts posted by Zockempire

  1. The whole crypto space lacks a basic understanding, what money is.

    Bitcoin Cash or Bitcoin would never work as money, because you have no underlying which it represents.

    Try to make a debt contract in Bitcoins and you would see, it can't work.

    Ripple is different here. It does not want to be money, but is a useful solution to faciliate money transfers.

    It's value comes from it's usefulness and not because it's "money".

  2. I recommend you to judge not on apperances, but rather on the content of the video. Dr. Hosp is a well known crypto expert in Germany and Austria, who is also interviewed regularly on TV. More on the person https://www.julianhosp.com/ .  On the German finance TV for example here, where he announced the coming crypto crash towards BTC 5k in advance: http://www.deraktionaer.tv/video/bitcoin-guru-julian-hosp---kursziel-60000-usd-bestaetigt-zweites-kursziel-5000-usd-und-beide-erwartet-in-2018-50191747.html

  3. Of course, they should. It is vital to have access to the US-markets also because of current and future xRapid liquidity. This liquidity is provided by retail investors in the moment. xRapid functions with the exchanges and the liquidity there and the USA is the most important market.

    If Coinbase and Gemini block Ripple as indicated here, probably because of their large own investments in Bitcoin: https://www.bloomberg.com/news/articles/2018-04-04/ripple-is-said-to-struggle-to-buy-u-s-listing-for-popular-coin?utm_medium=social&utm_campaign=socialflow-organic&utm_content=crypto&utm_source=twitter  Ripple should do something about that.

    They should not make themselves dependend on Coinbase and Gemini.

  4. I think, Ripple Labs should seriously consider to start it's own new regulated cryptoexchange in the US.

    The Winklevoss twins did the same with Gemini some years ago.

    Instead of waiting fruitlessly for others like Coinbase, Ripple could fund a new regulated US-exchange together with interested banks and payment providers as funding partners.

    They have a lot of revenue through direct and indirect XRP-sales. In Q4 alone they sold XRP for 95 Million USD. There is enough money to start an exchange and promote it.


  5. 1 hour ago, 1Ton said:

    I downloaded the ripplerm wallet from GitHub and then opened the ripplerm wallet's index.html file in my web browser Google Chrome, but none of the options such as change wallet address or change secret key work. Also, the tabs do not work either.


    You probably need to download the full package for it to work. Go on  https://github.com/ripplerm/ripple-wallet there is a green button "clone or download". This button must be clicked to download the full package as a .zip-file . After that, if it does not work try Firefox-browser. I used Firefox and it worked for me.

  6. 1 hour ago, Zockempire said:

    I just want to inform you guys: I have succesfully managed to claim my ALV with TEV's method mentioned above for my Nano Ledger S account. Before, I had to extract before my private key for my Ripple address with the BIP39 tool from Iancoleman, which I downloaded here: https://github.com/iancoleman/bip39 . I did everything on an offline computer for safety. 

    @Simoun With the ripplerm-wallet one can use also the private key of a ripple address. This is not the same as the secret key. It is just for one address. But the private key works in Ripplerm for signing a transaction.


  7. Yes Tev, as I wrote in the other thread, I did everything (!) on an offline computer. If anyone tries to repeat. It is not a very easy process, but possible. Please make everything only on an offline computer, which never conects to the internet, for your security. Do only on your own risk as always, nevertheless. 

    How I did it:

    Ripplerm-Wallet accepts the private key of a Ripple Address, which I could derive from my Nano Ledger S wit the BIP39 tool from Iancoleman. This tool can be downloaded here for offline use: https://github.com/iancoleman/bip39 .

    There I did (on my offline pc) put my 24 seed words of the Nano Legder S. Then I did select Ripple XRP as currency. Under "derived addresses" I could find my Ripple Address and the associated private key.

    This private key is not the Ripple Wallet Secret key like with Gatehub. It is just the private key or the one Ripple address. But it can be used to sign transactions with the Ripplerm-Wallet offline for that address also on an non-internet-computer. The wallet can be downloaded here: https://github.com/ripplerm/ripple-wallet .

    I used Tev's description for that process of signing the transaction (Trust enabling) with Ripplerm-wallet offline, which is avaivable in detail (Tev's posting) on the other thread on xrpchat.

  8. 7 hours ago, tev said:

    Yes, a few minutes ago. I'll try to summarize before I forget.

    1. While sitting at connected computer, change ripplerm-wallet's demo account to your own account. (That is, your public address, begginning with "“r”. Don't type your secret into this computer!)
    2. Click on Tools.
    3. Go to the RawTxn tab (if you're not already there).
    4. Click the wallet account button and the wallet sequence button.
    5. Put a sensible value in the Fee box. I used 12 drops, because the top of the page says that's the current fee.
    6. Scroll down the page to Transaction Types, and select TrustSet
    7. Complete the value, currency and issuer boxes. If you're claiming ALV, you would put 100000000, ALV and raEQc5krJ2rUXyi6fgmUAf63oAXmF7p6jp (Allvor's address) in these boxes.
    8. Click the SetNoRipple box. A tick will appear in it. (Omit this step only if, for some unfathomable reason, you want other people to go rippling through your account.)

    You have now gathered enough information to sign a transaction. It's all summarized just under the Sign button towards the foot of the page. You have to find some way of getting this information to your cold computer, which is disconnected from the internet. I used a print-to-file PDF of the wallet page, and a USB stick, but I guess you could use a screenshot. It wouldn't be too hard to write down on a piece of paper. The critical details are the Sequence, the Flags and the Fee, since those aren't available to you when you're away from the internet. Now go to your cold computer:—

    On your cold computer, you have to open up an offline copy of ripplerm-wallet in a web browser. You're going to be repeating the above steps, but with a few slight changes:

    • You have to use your secret when you're switching the wallet from the demo account to your own. Click the blue Change button and then click use secretkey. Paste your secret into the box and click Submit twice.
    • Now it's a matter of repeating what you did on your hot computer. The difference is that you're going to have to provide the Sequence, Fee et cetera by hand, using your written notes or transferred screenshot, since your cold computer can't pull them off the internet. When you've got everything right, the text below the Sign button will look exactly the same as it did on your hot computer, so check carefully. You want the Flags (and everything else) to be the same as they were earlier.
    • When you're satisfied that you've entered the right data, click the Sign button. This will generate a signed transaction in the blob box at the foot of the page.

    You now have a signed transaction, which you want get back to your hot computer. I'm content to use USB sticks, since I don't have a uranium enrichment program. If your threat model includes Stuxnet or BadUSB, perhaps try something with QR codes.

    On the hot computer, go to ripplerm-wallet's Tools section and select the Submit tab. Import (or paste) your signed transaction into the tx_blob box and click Submit.


    I'm typing this into my hot computer,from memory, so hope I haven't missed anything.

    I just want to inform you guys: I have succesfully managed to claim my ALV with TEV's method mentioned above for my Nano Ledger S account. Before, I had to extract before my private key for my Ripple address with the BIP39 tool from Iancoleman, which I downloaded here: https://github.com/iancoleman/bip39 . I did everything on an offline computer for safety. 

  9. Hello Allvor,

    thank you for your kind offering!

    Can you explain in detail how to set the trustline with Nano Ledger S?

    It is not possible to extract a secret key from Nano Ledger as far as I know with the Mnemonic Code Converter like https://iancoleman.io/bip39/, only private keys for ripple addresses.

    Unfortunately Ripple Wallets like Rippex Wallet and Gatehub all want a Ripple secret key and not a regular private key to open the wallet.

    Maybe you can include another optional distribution method, like that we can send you for example a infinitesimal (very small) ammount of XRP from our accounts to your address to verify our account and you send an amount of ALV to our accounts appropriate to the claimable amount on March 28th for that account?

    Thank you for your help,






  10. In this article former greek finance minister, professor and Steam employee (Gametheory/economist-in-residence at Valve Corporation) Yannis Varoufakis, who was put out of the ministry by the EU-Elites as he opposed the strict austerity, gives an opinion about Cryptocurrency.  He wanted to introduce a blockchain based currency in greece by the way.

    You will probably notice, that his analysis is very well compatible with the vision of Ripple XRP as a digital asset to facilate payments, but not compatible with the view of the Bitcoin maximalists because of the lack of democratic participation in the Bitcoin monetary system.

    Here the link to the interview: http://www.wired.co.uk/article/yanis-varoufakis-bitcoin-bubble-interview

    About Yannis Varoufakis generally: https://en.wikipedia.org/wiki/Yanis_Varoufakis#Early_life_and_education

  11. Banks probably do not want a centralized system like the Lightning Network. Don't forget, that in the LN, you don't own your coins, but just IOUs for coins. If I was a bank, I would not like to trust my many millions into third party IOUs, when I can have all my coins under direct control with XRP with almost 0 fees and also almost zero transation times. 

    Without the LN Bitcoin can never compete with XRP in transaction times and fees and with usage of the LN you have no direct ownership over your BTC anymore.

  12. A quote from the article below: "Long term, it seems clear the Lightning Network or something like it will remove the need for cheaper altcoins, but it’s unclear how long it will take for this development to come to fruition. As mentioned above, altcoins with low on-chain transactions may have some utility over the short term, perhaps even in assisting the proliferation of the Lightning Network on Bitcoin."

    Will Bitcoin's Lightning Network Kill Off Altcoins Focused On Cheap Transactions:

  13. @Zenkert. I just wanted to point out the thinking behind BTC maximalists. What is the intrinsic value of Bitcoin, if it does not succed in the way I described above? None!! Why pay 10000$ for a coin, that is not used and technically obsolte. For Bitcoin it is a binary outcome, either rule the world or become worthless. XRP is designed to coexist in a world of fiat currencies. That is the reason, it is hated so much by many people in the crypto space. If Bitcoin truly succeeds, there will be no XRP anymore.

    Bitcoiners think, that with Lightning competing coins will die out:

  14. The fantasy behind Bitcoin's rise is, that it will take over the world. That was the idea from the beginning. Bitcoiners lay their trust in the Lightning Network. They claim, that energy consumption will decline drastically after LN is implemented.  Also transactions will cost almost nothing then and money-altcoins therefore unimportant. Bitcoin will rise until all of the money of the world is converted into Bitcoin as it is limited and therefore the superior money. After that, it will have a stable price, that means, it will have no price at all, because everything will be denominated in Bitcoins. The infered intrinsic value of Bitcoin is therefore unlimited. In the end, when all fiat currencies have been eliminated, also use of Bitcoins for payments will pick up, as everybody has to consume to survive, so nobody can hold on your Bitcoins forever.
    After that, there will be no changes in the world's money anymore, as Bitcoin will rule supreme forever. That is the idea of Bitcoin.

  15. Im my opinion XRP and Bitcoin are opposed to each other by definition. XRP is useful and can co-exist with other forms of money. It's worth comes from it's usability.

    Bitcoin however,  in it's true idea would swallow up everything and tolerate only Bitcoin as the sole world money. If Bitcoin does not succeed in this, it is likely completely worthless in the far distant future as it has no backing and no use case other than being a method of payment. When the flippening (Bitcoin ceases to be the Number 1 coin) will happen, the psychology will likely change for Bitcoin.

    As there are many coins other out there which are better for payments, I do not see a case for being Bitcoin a  true store of value.The competition is there and why not chose the better coin?

    So I don't like Brad being long Bitcoin, honestly.

  16. Look, what Hodor was writing in his blog concerning the topic of XRP volatility and adoption of xRapid.



    My Favorite Part

    To read my favorite part of the XRP markets report, you’ll need to scroll all the way to the end, where Miguel included a small section entitled “Institutional Hedging and Custody.”  It’s small enough to include here:

    “While customers can use XRP for on-demand liquidity through xRapid, we want to build the necessary markets infrastructure for eventual direct usage of XRP by financial institutions. In Q1, we’ll begin work towards the launch of institutional hedging instruments and custody solutions. Both of these market components are important to institutional adoption and thus are important components of our 2018 roadmap.”

    Why is this so important and game-changing?  Because Ripple has solved almost every potential problem with xRapid implementation in the eyes of onlookers, save for one point that continues to generate skepticism; management of volatility.  While the current implementation of xRapid avoids the impact of volatility for institutions that choose not to hold it,28 one of the core use cases for XRP is to replace Nostro-Vostro account holdings.

    While many organizations are willing to purchase XRP even without these safeguards, banks and other financial institutions will need volatility-management tools in place to support widespread adoption of XRP.

    This last section replaces the previous brief mention of “lending XRP” included in the Quarter 3 XRP Markets report, and is evidence of a much more well-defined strategy by Ripple to address the volatility concern by banks and financial institutions.


  17. I am also a holder of XRP an bullish. Nevertheless, we have to wait for the results of the xRapid pilot projects and if the financial institutions will adopt it also on a larger scale, after testing.

    These days, the volatilty of XRP is just horrible and also there is a big spread between bid and ask. For small transactions, that does not matter that much. A 0.5% spread is like 5$ for a thousand US-Dollars transaction.

    But if you want to send a million dollars, half a percent is quite a lot of money. As far as I know, xRapid currently works with exchanges. So there is room for improvement. I did read they want to develop futures markets for XRP.

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