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  1. Have you never dealt with bureaucracy? Three steps forward, two steps back - many times three steps forward, three steps back. That doesn't mean I don't invest in other projects that I believe are making strides in new verticals. I talk about those too - but most people ignore it. I had a number of friends who got in at the ground floor of some fantastic dot.com companies. I had a friend go from millionaire hero to crashing down as an early excite employee. If you think you have seen this all before and know who the winners and losers will be, I would consider with a great deal of sobriety that during the dot.com development boom everyone thought they were going to be millionaires - pumped on the hype and flash (literally). Sooooo many people with useless flash development skills. Speculation is not something to fight over. Lately I have been watching this guy - he clearly filetype:pdfs and digs into the papers that professionals are reading.
  2. This is a really interesting side of this puzzle. When a bank says they support it - does that mean: 1) They will offer you the ability to configure your own PayID on their system, or 2) They provide a solution by which you may initiate transfer to and away from your account to other accounts using PayID. The reason why I find this so interesting, is that many time for ACH agreement you need to provide them with your account and routing numbers and then they store that information. But if you only need to provide them a pointer and their software will make the necessary calls to your pointer to engage the transaction, you can affirm that you are the owner of these external accounts without revealing their details or where they are held. They must be working on some interesting services to handle these transactions behind the scenes if they are doing something like option 2. In theory you could initiate an ACH transfer of USD from your bank-based PayID to an exchange-based PayID - and the middleware on that receiving side could be seeking a good market price for XRP across several exchanges and then engage that purchase and deposit it from your exchange account to a privately hosted wallet PayID. It's the middleware that seems like where we are going to see a lot of secret sauce patents appear between the financial institutions that support the PayID addressing. I find this whole new layer (and potential for interesting financial middleware) fascinating. I hope we start seeing some cool press releases soon from exchanges on how they plan to use it (beyond just making it easier to deposit your crypto).
  3. Here's what I think. PayID is a brilliant project. It is still a small piece of the bigger picture, but an important piece because it engages the end-user in a way that totally comes out of left field for a company that is trying to help big banks. Any large banks is going to look at the potential of this and see it as a real challenge to the corporate banking industry. Setting up a PayID server is as simple as setting up a basic mailserver or dns server. The api calls are simple and straightforward, but in its own it is not a complete solution. However, it supports a very important consideration in terms of providing a user-friendly interface that enthusiasts interested in self-custody can use to provide payment pointers that are compatible across a growing set of networks. It is not a full fledged hosted payment solution - but with apps like XUMM you have a credible threat to brick and mortar banking. We already have exchanges adopting the standard - this is the first shot fired across the bow of retail banking. This brings us to two vast industries that can adopt this standard with relatively little effort: Domains registrars and hosts, and retail banking institutions. The domain reseller and host arena provides the ability to enable payment pointer via PayID that you would need to be able to configure in a secure, zero-knowledge environment where you have the ability to securely make changes to your payment endpoint information. Customers get the bonus have having vanity PayID addresses that incorporate their website branding. e.g. "You can confirm we are receiving payment when you see our payment$brand-x.media address in your banking application." And furthermore "Now you can save your payment pointers without having to directly share your account details with another company." And that brings up the third rail who will adopt this rapidly - ApplePay, GooglePay, AmazonPay. These companies already use account proxies to handle pay-by-phone credit card transactions. How much more value added service would they provide by allowing you to add cryptocurrency and other digital asset accounts as payment options for their existing payment app infrastructure? And paypal... stripe... square... They could adopt it as well - who wouldn't want to use their PayID to pay at a store? Particularly with the way payment technology is heading - instead of verifying your payment details on a third party static terminal, more and more payment rails are expecting you to look at your phone/watch and confirm the payment details there. As more phone incorporate a cryptographic chip that enables the phone to act as a digital wallet key. Banks already provide custodial services for traditional banking customers, but as CBDCs roll out and people are introduced to the idea of government issued digital wallets through which tax rebates are issued, benefit programs are issued, etc. The banks know that high worth individuals are going to want insured custody services that are linked directly to PayID maintenance and management. Enter Polysign, who I believe are developing a hybrid of PayID and SAML so that corporations can provide enterprise grade payment options across their organization and even provide intercorporate vertical/logistics payment integration for clients that are determined by smart contracts. By releasing PayID, they are breaking the egg and releasing the chicken - and as more technology companies cage that chicken and make it lay eggs. --- But what then? What company provides a system that allows you to transfer funds in near realtime across different assets and networks? ODL could provide the liquidity to facilitate that middleware between PayID supporting payment applications and PayID supporting custody solutions. Or they could use ILP endpoints. With a system like PayID being easy to use for end consumer and offering the option of keeping all of your payment accounts secure in an API driven payment scaffolding. In the end the fastest cheapest rails will win - especially if and when paying with PayID will give you time and fee estimates for using different currency rails to pay. I hope folks who are reading can see what is happening here - Ripple is laying down insertion points that are appealing to very clear demographics. And once everyone sits in the comfortable vehicle for modern financial empowerment, the value of the banking rails will be demonstrated, the key for ODL and ILP will be turned on, and the amount of XRP in circulation will likely become very handy and likely valuable. At least that's the way I see it. If you are curious how easy PayID will be to use, here's one I just set up for tips to Uphold. :-D jag216$payid.moregeekthanchic.com
  4. This is really it, for me. And we're seeing more players entering the race. It doesn't pay to have blinders on or assume that no other viable projects exist - but that sentiment generally draws focus away from a site that exclusively focuses on XRP enthusiasts when the full digital renovation of global finance is happening. Lots of moving pieces, not all of them are of interest to XRP holders.
  5. Yeah, I posted it because it was new, but the content was a little underwhelming. I'm going to try the PayID AWS deployment next. I can see that being a solid package offered by Amazon - especially if amazonpay supports it as well.
  6. Based on Weitse Wind's example of transferring $100 of USD specified value in a currency agnostic format, there does appear to be this option but it would need to be provided by the PayID host as an internal service. That being said, ILP payment pointers are supported based on the videos I have seen.
  7. I agree - and if this piece of code is all it really takes to set up a PayID address paybox on a payid server: { "payId": "alice$", "addresses": [ { "paymentNetwork": "XRPL", "environment": "TESTNET", "details": { "address": "rDk7FQvkQxQQNGTtfM2Fr66s7Nm3k87vdS", "tag": "123" } } ] } Sent as a POST message to a PayID server hosted locally, and if you can add multiple paymentNetwork options, each with their own wallet addresses hardcoded, and XUMM add the integration of the necessary KYC handshakes for big boys to be able to get/verification of account ownership from XUMM (so that they know who owns the account they are sending money to) - then suddenly you have a KYC compliant cold storage solution where you get to custody your own keys while being fully compliant in interacting with the wider financial space.
  8. So I was playing around with this in a docker container. I can't really get over how revolutionary this is in terms of transforming consumer banking. If you can run your own server, you now have a shareable pointer to accept payments right into cold storage. As simple for people to remember as your email address. My mind is still blown. We are no longer waiting on dozens of banks to start using XRP. We are now waiting on millions of domain name holders to start using PayID. If it is as simple as putting together a docker on your NAS or on an AWS instance - heck even a Lightsail VM - and then pointing a subdirectory of your own web domain to it? Jesus, all it would take is Godaddy to include setting up a payment pointer as a service when you register a domain - this thing will hit retail banking like a meteor.
  9. Quite a surprising announcement, the migration has been approved! This means the KIN ecosystem will be moving from a network running 1000-1200 TPS via a Stellar fork to Solana's framework running 60,000 TPS. Curious? Be sure to read up on Solana's partner project with Chainlink to create a low latency oracle. SOL BTC Binance; https://www.tradingview.com/symbols/SOLBTC/ I think Modern Investor had the best reaction to this news, which is really funny because he was praising Kin pretty hard for awhile like the beginning, just like DAI. The funny thing is, I think I first looked into the Kin project because DAI mentioned it - but everyone has dropped Kin off their radar, making it a very interesting scenario.
  10. And yet it seems there is a mobilization towards redefining crypto to meet existing definition while regulations are also being refined and extended. The bridge is being built from both sides, which is very welcoming. The answer seems to be that when decentralized storage and management meet atomic distributed payment networks, the entire model is flipped on its head - the power of liquidity is no longer a function of the custodian - it is the power of the currency protocol itself. In this world, banks and payment companies don't tell money what to do and where to go - the currency definition itself tells the banks, the payment companies and even the consumers what is or is not possible. The money tells you what rules IT will play by, and YOU decided if you are willing to play along, or if that game is not for you. Some tokens may have rules that are too open, too risky, too wild. You will not play. Other may be too limited, to controlled, too contrived. You will not play. This doesn't change the fact that the financial operations we have known to find useful are going to need to find the coin that has the right set of rules that they feel comfortable playing with. But the money and the protocols - not the corporations or governments - ultimately have the power. China will learn this quickly. If their coin sucks, the world will not play. Even if they say it will be open, spyware free, etc. If the code sucks, the world will not play. If the coin is not open source, the world will not play. Etc. Etc. How you form the money determines who can use it, how they can use it, where and when they can use it. Digital token networks determine their own economies and limitations - they can be as opinionated or unopinionated as they want, and people can choose to use them or not use them. But it is very weird to have a world where the money and the protocols and features comprising it make the rules for how it can be used.
  11. I've had my eye on Solana for awhile after hearing this news, and for a long time it was only being hyped in a Solana deck - but the proposal is on kik's engineering GitHub: https://github.com/kikengineering/technology/blob/patch-1/improvement-proposals/solana-migration.md This is a significant development. Kik originally ran as an ERC-20 and then migrated to a Stellar fork to take advantage of throughput advantages. I realize that the Stellar and XRP codebases have diverged, but I can't help but take notice of the concerns Kik raised. They were beginning to see congestion and bottlenecks in the Kin ecosystem as traffic and usage accelerated. Solana is a former Qualcomm engineer product. They have taken radio signal synchronization topology and applied it to what they call a Proof of History protocol which locks transactions to a universal timecode locked block chain that boasts 65,000 tps. Solana's goal is to be the streaming transaction layer for 5G. Not necessarily a threat to XRP, as they are still small. I'd consider them a solid partner in the future. SOL is currently available on binance, but buying is confused by the dearth of Sola and other SOL token tickers in the broader market. It has experimental ledger nano a support through a CLI. I believe these factors have caused the token to drop from it's initial hype cycle - there was a bit of token count and distribution controversies as well that put a damper on the price. To date I think it is still a high-friction acquisition, making it attractive to those willing to put the effort in to jump through the necessary hoops to get it. If kin developers accepted the proposal, it could potentially be a real game changer for Kin's utility. It would open up the entire IoT operating space that Solana is pursuing and potentially connect Kik to a soon-to-be-explosive smart hardware ecosystem. That's a whole new market frontier we've barely scratched the surface of in the US. Lots of growth and upside potential in the 5G landscape.
  12. Blockchain backer mentioned that Moneygram ODL was processed through bitstamp, which would make this gumbo a little spicier. I have not confirmed it. Not shocked at all to see Brad Garlinghouse mentioned fiat debasement being inevitable with the amount of stimulus being pumped globally, and the effects that this stimulus is having on markets is significant: In terms of global reset, this is really, to my mind, a lot simpler and non-conspiratorial if the Quill is correct regarding the power of negative interest rates should the US decide to go there - the whole video is interesting, but here's the juicy bit: Is Ripple starting to think more like a bank than a payments company? Is this telling?
  13. Hi folks, Been awhile, thank you for reading. I don't write too often these days, but I have seen enough interesting things over the past few months that I feel it is absolutely time to speak up and share my observations. I could be entirely wrong, and I am NOT a fanboy by any means. I dislike hype in the markets as much as the next person. Before it was nuked, I mentioned in the Zerpening that there are many ways to get to $589/XRP - the dollar can go down, or the utility can go up, or both. Something really interesting has developed in terms of the timeline we have seen since the beginning of 2020. The first thing I want to bring up, is the statement made repeatedly by Ripple that 2020 will be the year of the digital asset. This commentary came in the shadow of an exhausted repo market that was already struggling with liquidity to keep up with overnight deals in 2019: https://www.cnbc.com/2019/12/30/the-fed-seems-to-have-halted-a-potential-crisis-in-the-repo-market.html The first observation that I made regarding rhythmic volume patterns down to the midnight hour of weekends, and we've all recognized it by now: The ever increasing sine wave of programmatic activity that was so carefully balanced it had very little impact on price in comparison to speculative movement. No terribly high values in comparison, but a considerable amount of XRP had been flowing, changing hands, etc. The volume generated during these weeks on a daily basis outpaced the volume we saw during the last meteoric bullrun, yet the prices never even came close to $0.50. Consider when OTC sales dropped from XRP II. Consider when we started seeing a parabolic rise in XRP distribution - this liquidity wave is a lagging indicator of this initial distribution increase (in my opinion): https://www.ccn.com/ripple-potentially-sped-up-its-xrp-distribution-timeline-by-21-years-crypto-researchers/ In response to the outcry (so the narrative goes), we are told they curtailed sales - I believe it is likely that the curtail in sales and the client flows they have access to allowed them to predict that the liquidity waves they generated using their initial escrow formula would wash out this month. They knew when they started slowing down institutional sales that the liquidity they pumped into the system would ripple and wash out in waves. But why publicly shout about turning the controls now? The Greg Kidd interview indicated that the mentality of Ripple concerning the escrow is precisely the following: Ripple views the ownership of its warchest as if it were a central bank, preventing monumental flushes of liquidity from creating too much volatility. I believe what we have witnessed with the weekly wave of programmatic trading was a test of the smoothing effect of the XRP ODL platform - could it operate in the background and transparently hold a floor value? I believe they got their fortunate market test case on March 12th, when the entire market dips and the subsequent Maker/Dao/Eth $0 automated auction siphon slurped unfettered value out of ETH and drained the rest of the market with it. https://blog.makerdao.com/recent-market-activity-and-next-steps/ https://blog.makerdao.com/the-market-collapse-of-march-12-2020-how-it-impacted-makerdao/ We went to $0.11 - it was terrible, but it could have easily gone far lower with the rapid liquidity XRP provides. We already know how bad those swings can go. But the waves continued, we rebounded along with the rest of the market, but we held oddly steady at $0.20 while the rest of the market fluctuated in a more loosely coupled manner. I've mention on a few video comment boards the $0.17 Sunday. This is the most interesting piece to me as of late. There are a few interesting things that we know right now. First, we know that ODL is transitioning to smaller payments - the wave or large payments is over. Interesting. Second, we know that many central banks are planning to adopt DLT through R3 Corda as the backbone for their CBDC development: https://www.r3.com/wp-content/uploads/2020/04/r3_CBDC_report.pdf Do we know how much XRP r3 has an option on? Was it necessary to rebuild the warchest in order to shift liquidity pools to appropriate areas? How much does r3 need for its central bank partners? Third, we've had suspicious unique XRP market flash buys on three distinct and evenly spaced weekends - each one driving the price of XRP up and then down by $0.03 roughly, only to return to stability at close to the original price. What would it take to move the markets in these brief 5 minute flashes? Let's say it likely take the sale of between 5.5-6 million XRP to drop the price from $0.20 - $0.17 - the cost to do this on bitstamp, as it turns out, is around $1mil USD. This sure seems like something that a person would take to the OTC market, but we've had THREE weekend buys. May 10 - I'll admit this first one was disguised pretty well behind a general market crash: May 24: June 8: The OTC markets are drying up. That's the only thing I can really assume at this point. Why would anyone take this sort of risk on the open market three times? The three opportunities on a regular timeline: My feeling is that - particularly in the most recent case, you have a very clear out in the open market massive million dollar transfer arranged - if not three - and where is OTC? Are we witnessing the effects of a quantitative tightening on the part of Ripple? Are they expecting there to be a significant liquidity crisis in fiat that would make XRP far more valuable to them as a company in their control than outside of it? I believe that Ripple is rebuilding and rebalancing their warchest for a new volley of managed liquidity. I think they are shifting to smaller payment volumes because they are anticipating advanced volatility in the dollar, likely to the downside, and they are aware that the consequences this will have on the value of XRP will allow them to handle far more international remittances with far less XRP. Another sign? They are interested in XRP loaning partners - yet another form of quantitative tightening - in addition, this builds a redemption floor as more and more liabilities are stack on XRP and require either XRP or a comparable amount of other currencies to redeem. The beauty of the ledger - again going back to the Greg Kidd interview - is that with the XRP Ledger a person is able to settle in a variety of avenues and handle many different interchangeable currencies - and this should really go in both directions - we should be able to loan against XRP secured in escrow on the ledger - but we can also issue stablecoins or other assets on the ledger that are backed by other assets so long as a reliable pricing channel exists - and none of this takes away from the value of XRP as a transport of value. I can't make price predictions - and I won't. What I will say is that I feel like quantitative tightening of XRP in tandem with the bitcoin halving is likely a chess move considered way in advance, and I think that if other currencies releasing proof of stake equally depress the circulating token supply as fiat inflation kicks in - particularly if the sentiment that Blockchain Backer shares in his recent video on the stock market hype cycle playing into a dropping dollar value, it makes perfect sense for Ripple to wind back its XRP distribution plans in order to be able to handle more smaller payments with fewer XRP per transaction. I think it is a pretty ballsy move if this is in fact what they are doing - because they would be effectively betting against the value of the dollar without directly saying so. At the end of the day I feel like this move by Ripple anticipates an increase in price - to what extent I do not know.
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