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  1. Like
    bx549 got a reaction from Trisky in ADA Anyone?   
    I have the very same opinion. I hold some ADA, but not like XRP. To be completely honest I purchased some ADA because the system is written in Haskell (I know it's a dumb reason, but the Cardano team looked good). Also, if the Ethereum team messes up when they move to POS then Cardano may in a good position.
  2. Like
    bx549 got a reaction from Sharkey in Has Bitrue been hacked?   
    Here is another article about the hack"
    Here is a sentence from that article:
    "While the funds are relatively small compared to other heists, this time, XRP will have to show its capabilities in reversing transactions."
    Correct me if I'm wrong, but that is simply not going to happen. The exchanges can and should cooperate, but the transactions will not be reversed..
  3. Like
    bx549 reacted to VanGogh in Ripple Commercial   
    Very nicely done. 
  4. Like
    bx549 reacted to mars75 in The Issues in the International Payment Space   
    Although arguments can be made against the notion of future adoption of the XRPL by the financial system thru supporting the retention of the current international payment system or emphasizing the technological progress in the SWIFT payment network, they fail to address critical flaws in today’s system. Hackers, political pressure, regulators, and the shrinking correspondent banking system are all legitimate issues that are impacting banking operations.
    Most international payments are facilitated through the SWIFT network today. SWIFT is a messaging network used to send and receive information on financial transactions between financial institutions. Currently, more than 11,000 financial institutions from around the world are linked to the SWIFT network for operations. Typically, the originating bank is required to have a working relationship with the destination bank in international wire transfers. If there is none, the originating bank can search the SWIFT network for a correspondent bank that has one with both banks.(2) Once found, the transaction is transferred through Nostro accounts held at the intermediary bank for a fee to the destination bank. Although SWIFT’s inception has proven to be beneficial in enabling international payments between banks globally, it’s reliance or the monopolistic position has become a double-edged sword.
    Due to their international relationships, SWIFT was viewed as an apolitical organization that was independent of any country’s domestic foreign policy. Unfortunately, this has not been proven the case the past few years as political disputes now threaten to fragment the international payments space. Regardless of your political views towards Iran, the United States pressure on SWIFT to disconnect Iranian financial institutions from the network has been unprecedented. While the action undergone by SWIFT contradicts the European Union’s desires. Although the EU intends to maintain trade with Iranian institutions, SWIFT complied with the US requests.(3) With the consequence being that now the international payment network has become weaponized to exert political pressure onto countries or regions. This undermines the trust within the network as participants can ultimately be on the wrong side of political discourse. Along with Iranian FIs, there has been heavy speculation from US media sources and diplomats that Russian financial institutions might face similar sanctions to their Iranian counterparts in the future.(4) Further eroding any participant confidence in SWIFT remaining apolitical.
    SWIFT’s inability to remain impartial to the network’s participants is already beginning to have repercussions. In Europe, there has been a political push back on the US influence over the payment network. Germany's foreign minister, Heiko Maas, has publicly stated that the EU should "strengthen European autonomy by creating payment channels that are independent of the United States — a European Monetary Fund and an independent SWIFT system".(5) Even more striking were Maas’ comments that the EU had already begun the process of developing an alternative payment system. Both Iran and Russia have also taken similar responses to the EU. Iran has begun implementing an alternative banking platform for banking transactions with foreign institutions.(6) Meanwhile, Russian financial institutions have prepared themselves to be disconnected from the SWIFT network at a moments notice and have begun to adopt another alternative payment system CIPS. CIPS or the Chinese Alternative Global Payments System is also an alternative payment platform provided by China. CIPS was intended to make transactions between China and Russia easier while enticing other countries to utilize the system.(7) Russia has also begun to develop its own payment system called the “System for Transfer of Financial Messages” (SPFS). Essentially, the global political environment has pushed regions or countries to develop or adopt alternative solutions to SWIFT. Creating an ever growing, fragmented international payment network that will require interoperability between systems.
    SWIFT’s security has also been exploited these past several years, further testing the participant's trust of the network. Along with the frequency of these hacks occurring, the severity of them is increasing. Of the top five biggest SWIFT hacks by money lost, four of them have occurred within the past two years.(8) The sophistication of these attacks is becoming so advanced for SWIFT’s liking that they have begun to issue warnings and urge participants to increase their security measures.(9) In some attacks, hackers have been able to order payments to banks in other countries by copying preformatted payment requests into the SWIFT messaging software. Even further eroding trust in the network’s security, it was discovered that the NSA had breached SWIFT’s security and have developed tools for its operations. Thru leaked documents and files by a hacker group, the public was made aware of how the NSA had accessed the messaging system. Possibly setting in an uncomfortable feeling for financial institutions located in Eastern countries that the SWIFT network is a possible vector for attacks.
    Structurally, the correspondent banking system has been on a gradual decline for several years while total volume and value of payments through SWIFT are increasing. The Financial Stability Board conducted a study in which the FSB found that from 2011 to the end of 2017, active correspondent relationships declined by 15.5 percent across all currencies.(1) While for 2017 alone, it declined by 4.1 percent. More recent studies have concluded that 2018 saw declines in active relationships and corridors of about 3.5% and 2% respectively.(11) With the global correspondent banking network now declining by about 20% and the number of active corridors having fallen by roughly 10% the past seven years. This decline in active correspondent relationships has also coincided with the increased concentration within the correspondent banking market. Remaining participants in the network have their market share increase as competing banks exit the system. Both these trends pose respective risks and issues to the banking system. An increase in the volume of payments with the decrease in the number of correspondent relationships is theorized to increase the length of the payment chains. Implying payments will need to be facilitated thru more intermediary parties to reach the same destination. Possibly adding more exchange or transaction fees along with increasing the settlement time. Meanwhile, a concentration in the correspondent banking market introduces an unwelcoming scenario. Theorized consequences include a decrease in the competition of services, leading to higher costs and more fragile networks. As the payment network relies on fewer participants to facilitate payments, the failure of a participant will have greater repercussions as they are more relied on.
    Ultimately, the global political environment is causing a fragmentation of the global payment system while the financial system is gradually entering a delicate state. Both trends have already begun to force global and financial institutions to adapt and find alternative systems. Regardless of what SWIFT can develop to enhance it’s services to its participants, there will be issues the organization cannot resolve. Interoperability will more than likely be the key in enabling the future global payment space to withstand any geopolitical shocks, along with providing a crucial capability if the financial system is under strain due to the structure of the correspondent banking system. Placing Ripple’s xCurrent or ILP in an advantageous position.
    1.      https://bankingjournal.aba.com/2018/11/basel-decline-in-global-correspondent-banking-relationships-accelerates/
    2.      https://www.investopedia.com/terms/c/correspondent-bank.asp
    3.      https://www.ft.com/content/8f16f8aa-e104-11e8-8e70-5e22a430c1ad
    4.      https://www.voanews.com/a/us-diplomat-russia-should-release-ukrainian-sailors-by-christmas-/4688911.html
    5.      https://www.businessinsider.com/germany-wants-european-rival-to-us-backed-swift-payment-system-2018-8
    6.      https://en.mehrnews.com/news/139715/Iran-welcomes-foreign-banks-to-join-its-alternative-to-SWIFT
    7.      https://ethereumworldnews.com/after-ripple-chinas-cips-now-competes-with-swift-departure-from-us-dollar/
    8.      https://medium.com/@kvantorcom/top-5-biggest-swift-hacks-52fca78145c
    9.      https://www.reuters.com/article/us-cyber-heist-warning/swift-warns-banks-on-cyber-heists-as-hack-sophistication-grows-idUSKBN1DT012
    10.  https://www.reuters.com/article/us-usa-cyber-swift/hacker-documents-show-nsa-tools-for-breaching-global-money-transfer-system-idUSKBN17H0NX
    11.  https://www.bis.org/cpmi/paysysinfo/corr_bank_data/corr_bank_data_commentary_1905.htm
  5. Like
    bx549 reacted to EcneitapLatnem in a few user reported their gatehub wallet been hacked and XRP sent to r9do2Ar8k64NxgLD6oJoywaxQhUS57Ck8k   
    Yeah... I mean... not taking away from the severity of what news @yxxyun might be delivering.... but hot damn, man! Post some freaking links!!!!! or something!!!
  6. Like
    bx549 reacted to Bearmark in Why XRP will NOT succeed   
    That's likely true, though I also compare it to postal services and companies that started offering e-mail. Postal services are still around (using e-mail internally because it's great), meanwhile companies offering e-mail ventured into countless other avenues that the internet had to offer. A comparable scenario might play out regarding the IoV, banks will stay around, but new companies offering instant settlements start to explore countless other avenues that the IoV has to offer. Making the competition with banks purely on holding and transferring value not that important anymore.
  7. Like
    bx549 reacted to Tony_Clifton in The $10 Las Vegas Party   
    any hopes the SEC will discuss / announce that XRP is not a security tomorrow ?
    Fintech Forum: Distributed Ledger Technology and Digital Assets - May 31st, 2019
    Agenda linked below
    Pic Related: me waiting for moon launch

  8. Like
    bx549 reacted to lysistrada in Former SWIFT employee comments on impact of Ripple   
    I think the Ripple versus Swift mentality just plays into our human desire to bifurcate issues in an overly simple manner that mentally is no more complex than "Ripple Good.  Swift Bad."  I think the former employee's answer makes a lot of sense.
    In reality, the Swift messaging competitor of xCurrent - to me / in my opinion - was never the key ingredient.  It was a tool to force the hand of banks and Swift to put themselves on a platform that could ultimately use xRapid to instantly settle transactions.  The following is probably a facile analogy, since I can't know the underlying motivations actually present, but you may recall that Google Fiber was speculated to be an initiative to make other ISP's be competitive with regard to bandwidth costs for consumer level service.  I don't know if that's true, but I do know that my neighborhood is now wired for Google Fiber and Google Fiber is now one of three choices present for me to have gigabit download speeds for cheaper than getting 50mbs down was 5 years ago.  Everything in my area now more efficiently runs the Google-driven ecosytem that runs many aspects of my life.  
    So returning to the above.  Ripple creates xCurrent and makes banks very aware of it, but it's largely FI's and more fringe banks that don't have massive systems just living and dependent upon tremendous legacy systems that can enact this technology first.  This will allow these companies to compete with the larger more established institutions on price - ultimately - because the future end result of xCurrent + xRapid will allow these fringe entities to be more efficient and enjoy better margins while providing faster service.  The banks must respond and we are seeing that already.
    In response, Swift creates GPI which - as it turns out - can interface with Corda which uses XRP as its native settlement mechanism. 
    This is what I have observed and it's entirely consistent - as best I can tell - with the former employee's explanation.  I am certainly over-simplifying a number of things here.
  9. Like
    bx549 got a reaction from WillGetThere in If you are a HODL and the price doesn't matter yet then why are you here monitoring XRPChat?   
    I shouldn't be here ... I should be working.
  10. Like
    bx549 got a reaction from dr_ed in If you are a HODL and the price doesn't matter yet then why are you here monitoring XRPChat?   
    I shouldn't be here ... I should be working.
  11. Haha
    bx549 reacted to Paradox in If you are a HODL and the price doesn't matter yet then why are you here monitoring XRPChat?   
    I'm here for the top quality journalism posted daily in the Press section
  12. Like
    bx549 got a reaction from Zerp_Legend in Adding Value to Cross-Border Payments Is Why MoneyNetInt Runs on Ripple   
    I know ... it's happened to me before elsewhere . People thought I was lying but I wasn't!
  13. Like
    bx549 got a reaction from hallwaymonitor in Adding Value to Cross-Border Payments Is Why MoneyNetInt Runs on Ripple   
    I know ... it's happened to me before elsewhere . People thought I was lying but I wasn't!
  14. Like
    bx549 reacted to hallwaymonitor in Adding Value to Cross-Border Payments Is Why MoneyNetInt Runs on Ripple   
    OK. Thanks for pointing out that. Now after I re-read and compared the quotations again and it is apparent to me that Ripple did change their original quotation. I posted this thread very soon (couple of minutes) after Ripple published the story. I remember I took the existing quotation and it was originally in quotations in the Ripple's post already so I just copy and pasted it here just like it is in above. The ONLY change I made within the quotation in above was the bolding cuz I wanted to highlight the "money shot". In below Reddit link is the same quotation as in above but it does not prove much. I'm not in Reddit. Next time I will take bloody print screen that people won't think I'm hypester or something. So annoying.
  15. Thanks
    bx549 got a reaction from hallwaymonitor in Adding Value to Cross-Border Payments Is Why MoneyNetInt Runs on Ripple   
    From what I see, zerpdigger's quotation is accurate. Maybe the article was changed and the update just hadn't filtered through (don't know what Ripple uses to host their website.) In any case, I agree that the tone of the statement is different between the two quotations, especially in this environment where everyone is wanting news.
  16. Like
    bx549 reacted to TiffanyHayden in Tiffany Hayden   
    I think it's strange how much people care about this. After carrying kids around on my right hip for so long, I am used to using my left hand for things. Since I don't actually have a camera crew that follows me around, that's how left-handed pictures turn out. I don't like posting pictures of myself nearly as much as people like to chide me for. I don't like it all. I hate it. Try and find a picture of me in my 20's or even in my early 30's. Do you think any woman thinks "Now that I'm 41, it feels like a good time to start taking pictures of myself to share online in a predominantly (young) male industry,  filled with vitriol, that scrutinizes every breath I take, and actively hates  me?" No. I do it DESPITE that. Contrary to what dude's with middle-aged, single mom fetishes may think, I post pictures for the women. Like attracts like. I want to be visibly present and this is the best that I can do. People who like to talk about all of the attention I crave are never able to explain why, then, have I turned down every single interview request over the years?  I push myself to be as personable as I can be because I want to be understood and I want to be visible to the other "regular people" in the world.
    Agreed. I was embarrassed at some of the comments and behavior coming from XRP supporters. It would be analogous to one flavor of Bitcoin making fun of another flavor of Bitcoin because their mempool was full. Same thing could happen to you, dude. Even more importantly, those people failed to recognize that the Stellar network SUCCEEDED, as designed, and stopped forward progress until it was safe. That was a victory for anyone championing Consensus over PoW. 
    Thank you for this. 
    Up until recently, I have never *only* liked XRP. One of the main features of the XRPL that originally attracted me to it is that it's currency agnostic. 
    I am uncomfortably open about things so people don't have to speculate. I try really hard to do the right thing, knowing full well that not only are strangers online watching closely and judging, but my 2 kids as well. They are teenagers now and I have to atone for all that I do. They read every word written about me. 
    I am sad at the way Bitcoin turned out. I didn't get involved in crypto to make a financial investment. I have always been poor. When the financial/housing crisis hit, I had a baby and a toddler and I felt terrified and helpless. The houses on every side of me went into foreclosure. They stayed empty for a long time. When somebody bought the house next door, they bought it for $12,000. When learned about Bitcoin, I latched on like it was a life raft. This is the Bitcoin that I was out evangelizing for:
    The entire article is good but it turned out to be ********. I was hopeful when Bitcoin forked that there was a chance to salvage it, but then Craig Wright showed up and there was just more infighting than I have the energy and capacity for, mostly because being an XRP supporter has been so damn taxing as well. And it's gotten worse lately.
    Nonstop **** like this. I don't know why, but as crypto enthusiasts poor into this space and grow in their knowledge, thoughts and reasoning, new XRP supporters have taken a different route, embracing ignorance and deciding to hunt cartoon bears and create conspiracies instead. 
    Jed reached out to me, in a sincere way, because he felt misjudged by me and wanted a chance to be heard. I have no reason to hate him and everything he touches into eternity. Life is short and I don't enjoy fighting with people or holding onto hate. The second news broke about Steller and IBM, everybody was trying to make it sound like a loss for Ripple/XRP. Good news for Stellar doesn't mean bad news for Ripple and vice versa. I'm not willing to spend one second getting into an XLM/XRP ******* match. And I don't want to participate in the cheering that goes on whenever another project stumbles. 
    I learn by doing and I'm here to learn. 
    Because, for the most part, if one of you gets screwed over, nobody will care. I have a small platform and try to use it to amplify the voices that don''t get heard. 
    I disagree. Neither my opinion of Ripple nor XRP has changed. It's because I am secure and feel confident in XRP that I don't feel the need to hate everything that isn't XRP. 
    There are lots of cool projects popping up everyday. I think it's exciting and I definitely want to be a part of it. I don't view crypto as a spectator sport. 
  17. Like
    bx549 got a reaction from damascus1986 in Tiffany Hayden   
    I don't know about TH, but the comment that DS made about Stellar network going down was the right thing to do IMO.
  18. Like
    bx549 got a reaction from karlos in Tiffany Hayden   
    I don't know about TH, but the comment that DS made about Stellar network going down was the right thing to do IMO.
  19. Like
    bx549 got a reaction from Dinoizzy in Tiffany Hayden   
    I don't know about TH, but the comment that DS made about Stellar network going down was the right thing to do IMO.
  20. Like
    bx549 got a reaction from lucky in Tiffany Hayden   
    I don't know about TH, but the comment that DS made about Stellar network going down was the right thing to do IMO.
  21. Thanks
    bx549 got a reaction from Cesar1810 in XRP Price Analysis - Where is the Traffic   
    I've been hanging on since summer 2017 ... I'm very patient too.
  22. Like
    bx549 reacted to karlos in Tiffany Hayden   
    A reminder to keep the conversation in this thread respectful.
  23. Haha
    bx549 reacted to whiteout in Tiffany Hayden   
    I think it’s strange how all her selfies are from the same side
  24. Like
    bx549 reacted to Lumpy in Reiterating Patience and Ripple's Goal   
    When you take a step back, and look at the big picture, it is very interesting to see here, the number of members who (i) are long on XRP and (ii) advocate Ripple, a BtoB company. 
    Although the conflict of interest is obvious, it does not mean that because you hold position (long) on XRP, your view on Ripple is not objective and wrong. I am not saying that.
    By the way, the conflict of interest is so obvious that Ripple span off / made a clear segregation between XRP, the public ledger, and itself (the company) in its communication.  
    Sometimes, surfing on the forum, I wonder: what is the motive? The motive behind a member explaining what is Ripple and how, as a company and in economic terms, it is evolving and performing. What is the motive? Convince himself that he made a good investment? Get a step into international money transfer systems? Understand the tech? Etc.
    What does motivate @Hodor to post such a great content on Ripple? 
    When you think about it, it is interesting. Ripple is a for-profit company, it is not neutral. Ripple is not operating for the common good.
    Although it is a great tech, as an individual, sending money within the European union is today frictionless and pretty fast. Ok, it's not yet within secs. But it's efficient.
    Fu**, I forgot what I wanted to say initially… Yes, as an individual, I think what is very important is to make great things out of the XRP Ledger, as XRPL Labs is currently doing. Let's build things on top of the open ledger and create verticals to free ourselves from the burden of third parties when it comes to move value.
    Let Ripple for the institutions, adopt XRP for yourself ^^
    Just some raw thoughts.
  25. Like
    bx549 reacted to Chris_Reeves in Reiterating Patience and Ripple's Goal   
    Speaking for myself only, yes I'm an investor and long XRP. I'm also long (with much more money invested) in quite a few companies through my Roth, 401k, taxable account, etc.. but I don't write posts around those companies at all.
    For me, I'd love to get rich. Duh. But I'm truly excited about changing global finance. I see a growing liquidity crisis brewing with the insurmountable debt load that many countries are working towards. I see this problem and truly believe that digital assets are a way past the incumbent system and will allow for international growth unlike we've seen up to this point. There are hundreds of countries that businesses cannot enter for fear of financial risk due to a volatile currency. Imagine that going away. I imagine a world where businesses are financially put on a level playing field and economies of scale matter less in the financial world. That's why I care. 
    Oh, I work in finance as well.
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