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  1. I am really impressed. I just tried sending money to Greece. $500 from a US bank account to a bank account in Greece: Okay, what does Western Union offer? So please observe the Amount of Euros received! Also note, the reason that the Bank Account is grayed out in the Western Union app is because the Bank Account direct option is not available through Western Union. What About Transferwise? The rate was $4.99, but you don't get the money until the next day. I can see scenarios where an extra $5 is a small price to pay to have money settled in minutes.
  2. Because if your income is not streaming in real-time, you cannot pay streams in real-time unless you have savings or some other form of float. XRP the Standard productions did a video called "Over... And Over Again" that contrast the life with streaming income/payroll vs life without. If everything you consume wants to be paid as streaming service you will have consistent hiccups in service as your check runs out. On the other hand, persistently streaming income is going to require a shift in discipline for folks who cannot budget. Easy come, easy go gets a supercharger under the hood. If fast payments are really going to help mid to low income unbanked populations some financial education will need to be available (but why wait?) If you have a month to month cushion, enough savings to live off of for 3-6 months if you couldn't work, streaming services are something you want now. How you get paid is irrelevant. Not so when you live month to month. There are services that already turn your paycheck into a get paid as you work scenario. Like http://earnin.com
  3. Amazon is, in case you didn't know, a large company with many different verticals that they tackle. Saying Amazon as a whole is a customer is like saying Google as a whole is a customer. Amazon as a platform isn't even homogeneous and unified - there are still plenty of tools in Amazon's toolbox that don't talk to each other well, talk in very limited fashion, have very limited historical and/or legacy access, etc. Not to mention policy changes that break crap all the time while fixing other crap. That being said, for one vertical solving one problem, Amazon appears to be a customer: https://www.wefornews.com/amazon-pay-upi-launched-for-android-users-in-india/ But even if they adopted xRapid payment rails somehow, I can't even begin to imagine how long it would take for that to deploy across the entire Amazon ecosystem - from Mechanical Turk to FBA to Marketplace Sellers to AWS to... Zappos? Woot? I mean you really need to examine the constellation of nonsense that Amazon has become - and wonder how much Ripple really wants to have to transform its own practices - in order to completely update Amazon's payments infrastructure across all tools and acquisitions.
  4. I would argue that the only way this could be made faster from a consumer point of view is if the relationships between accounts could all be predefined once and payments could be pulled from the buyer side, not pushed from the payer side. In other words, what is faster from an end-user POV is not the time it takes for them to call you up and ask you to send them money, but for the paying process itself to authenticate against biometrics or some other on-site buyer the preauthorizes the vending device to pull payment directly from the network. So who is going to develop the first ILP enabled vending machine that can scan a one-time QR code generated by a wallet app (sortof like a shared 2FA) and then pull payment for the pretzels directly off the wallet via ILP?
  5. The micropayments revolution will not begin with leisure consumer activity. It begins with payroll and utilities at the hardware adoption level. I'm not streaming payments to anyone in real-time until I get paid on the job hourly as I work. As a hypothetical to demonstrate. If my payroll vendor ADP provided an option to accept direct to digital wallet payments hourly, and LG integrated ilp endpoints into their network infrastructure/webOS implementation, and my electric smartmeter also was tied into ilp endpoints, I'd happily receive streams of input and pay usage streams of output all day long. But without adoption along these critical avenues, micropayments is just playing around with automatic tipping - which already feels weird when I am at restaurants and I get too suggestions based on the size of the bill, not the time it took to fill the order (which most chain restaurants could easily track) The real hurdle to faster payments is a cultural one, not technical. There are just way too many lifestyles and business models that incorporate lag time, float, etc as part of operations. Take away Net 30 payment terms and a lot of businesses have to rework their whole setup. It's going to take a lot of coordination and error to get people and businesses to adopt streaming payments in a natural way.
  6. 'simjacking' is definitely a phenomenon on the rise. Happens a lot in clubs in coordination with a girl who is working as an accomplice and flirtatiously gets your phone number seeing you have an iphone, then later you discover your number has been added to another person's account and suddenly you are locked out of all your 2FA and email. https://www.wired.com/story/sim-swap-attack-defend-phone/ https://hackernoon.com/sim-jacking-attacks-are-on-the-rise-for-crypto-holders-829899dab2f8
  7. https://github.com/corda/corda-settler I didn't realize this was open source! I will have to dig further into the repo.
  8. This patent is really fascinating, as it appears to allow both banks to maintain private sets of currency ledgers, perform the forex behind the scenes using their existing connections, effectively wash the transaction groups, send the distribution lists independently through electronic communication using a GAN, WAN or LAN, and then simultaneously transfer actual net value for the notices through a third party real-time net settlement tool - ILP, which can use a variety of trustless tokens to transfer value, but XRP is the fastest at the moment. From the patent: So the final outcome here, from my reading: No need for banks to own XRP legally - either having value in custody and/or trusting market makers No need to expose their internal transactions and books or wallets on the network This allows banks to effectively create their own digital wallets to account for digital currencies and treat them all as if they were internal accounts - Including security and custody, etc. What is interesting here, is they will probably use their own internal stablecoin currencies to do this. No need for regulatory clarity on this matter to start using it from day one, as the XRP utilized in transferring value across the ILP belongs to the protocol infrastructure, not the banks. The patent effectively internalizes the costs of exchange (but avoids xRapid) and then uses the messaging services of either xCurrent or some other secured communications rail (xCurrent, as I understand it, is NOT a blockchain product - it is a communications product) while simultaneously transferring the value packets (after both sides agree on KYC/AML compliance) via ILP. Which is going to raise some very interesting court cases in the future. When data is transferred across a digital network, who owns the packets that you send? Are you giving license to Comcast or Verizon to pass through your data? Does it belong to you the entire time? Does it belong to the intended recipient? This may not matter a lot while sending information, but with you are sending packets of net worth that are unique and dropped packets means dropped value - who owns that? Who owns the responsibility for transmitting packets of value across the ILP? This space is getting more fascinating and complicated by the week. It is true that they aren't necessarily going to implement this right away - but the question to me is - is ILP ready to scale to this magnitude? It seems that we are talking about a considerable number of packets to send on a continuous basis. How is packet value recycled in ILP? That's the part of this that I don't quite understand. Regular data moves and replicates and disappears and no one thinks about it again. Does ILP use the underlying currency and translate value into the expected digital ledger denominations on the fly? Do both parties simply need to say "Hey, I want to send you this currency and does ILP automatically say 'okay, we'll use this value for that currency in XRP and it will take this many packets and cost this much and based on network congestion it should take this many seconds, etc." Then what, when the net worth of the packets is converted is the XRP deallocated? There must be operating accounts that drive the ILP system Because to my mind - please, correct me if I am wrong - a cryptocurrency - in order to exist - must belong to a wallet. It is not like paper money that can belong to a NULL wallet - it is a zero-sum game. Yes it can get sent to a wallet allocation no one has access to and be stranded, but it is stranded precisely because there is no XRP (or any digital currency) that is unowned. Every XRP is owned by somebody, even if that is a careless somebody or dead somebody. And I believe other cryptocurrencies all work this way as well, right? Every coin is in a wallet. I've seen a lot of slide decks on ILP but this part really eludes me. My concern, I guess, and I don't mean this as FUD, maybe someone with more technical knowledge can clear this up... If the XRP that is required to loop through ILP to transmit value to upper layers represented on the stack, and this is an automated process, it seems to me that the market value gets determined by those who use the system and transmit value back and forth, but that XRP is locked in and the value that gets traded within that loop is outside of retail and other markets. Is that right? I don't want to necessarily raise the whole issue of "secret ledger" again, but I don't understand how "protocol-level" value exchange that happens when sending value through ILP can ever touch "retail-level" exchange markets. That doesn't mean that the ILP will not need more XRP as people discover how cheap it really is, and that the ILP's use of XRP will soon dwarf every over XRP use case if it becomes an international standard for exchanging value, but for the time being - if ILP really provides a viable way for banks to get around using RippleNet - well, I just don't know what that means in terms of retail exchange value of the coin - it makes valuation a whole lot more complicated than what I had ever considered. ILP's use case of XRP seems like it is in an entirely different universe as compared to the speculative or store of value use case people are familiar with now. I feel like I'm trying to price watts of electricity for running an entire city based on the cost of lighting a few lightbulbs at a workbench with magnets and wire.
  9. I hardly have time with work to come around these days, primarily because I am trying to learn about how this distributed ledger/block/hashtable technology is going to impact the digital id, insurance and healthcare industry. Arguing or complaining about token prices feel a bit petty to me in light of the remarkable technological transformation the world is going through in some of the most deeply entrenched and slow-to-move industries in the world. But anyway... mouths to feed, rent to pay, lambos to crash, etc... It is really interesting to compare the things that were happening in June-July 2017 to now. Lots of the same sentiments, lots of old and well-respected users and critics got out of the market. @Graine in particular comes to mind as a voice that sometimes rubbed me the wrong way but would really get me to think about Ripple, where is started, what they tried... I think there is sometimes a blessing and a curse associated with being so involved in the community from such an early social stage - you see a lot of the sausage being made and I think, sometimes, there can be a bit of resentment on the part of those who see the progress being made now in light of the even greater successes and challenges that were tried and either failed or forgotten. It is easy to lose sight of the goal you originally had in mind when putting your time and energy in this space. No one is ever going to agree on the best direction to take - if there is one thing that can be said about Ripple - they push forward and commit to decisions, even if it means backtracking or abandoning efforts in something that they probably really loved at the time - in the creative arts there is a very important culling aspect of the editorial process that is savagely called 'killing your babies' - this is where you have a bunch of ideas and directions that you would really love to move in, but you really only can pursue one if you are going to achieve your creative ambitions - your deadlines, the limits of your resources. It is very hard to let those babies go. Sometimes we put them on ice, but the truth is that everyone as they get older acquires this box of things you will do when you have time, money, fame, etc. That's a box of dead babies we carry around - if we stopped today and pulled them out and looked at them, we'd likely discover they were not half as good or thought out as we once remembered. It is a better discipline to toss them fully - and then, if they are reborn, rewrite them fully - in a way that reflects the progress you have knowingly or unknowingly made since then. But to do what you can to achieve what you want now - to not wait for the stars to align - is important. If there is something that Bob Way really expressed very well in a number of his videos, it was the idea that if you have things in that box and are doing nothing just waiting for your opportunity to act, you are not really doing the XRP community any favors. Sitting around waiting for the perfect opportunity to transform your life is a path to poverty. It's another excuse waiting for a white knight in front of the 589 castle to save you. I feel that as prices pull away from dream targets, it is the folks who sit on their hands not changing their lives - who are waiting for the financial cryptorenaissance to flood their coffers with wealth and opportunity - who complain the most about the price. And if I can tear a page out of DM Logic's journal I would echo that whatever it is you think you will be doing to make your life better if/when you have XRP at $1, $2, $5 - thinking about that life change and reorganizing your mind and your priorities to make good use of that extra resource - well, you may find that after making those preparations now, you don't have to wait for XRP to moon - you can start implementing a lot of those changes now. That might include lifestyle changes. I can say that when we hit $3.50, a lot of my attitudes about money changed overnight - I saw my portfolio and the value of money in very different ways than I ever had. I found it completely enhanced my sense of gratitude and generosity - and I expected myself to be a stingy rat *******. One of the things I did start doing was tipping more - a lot more. I already was a 20% tipper for good service. I found that when I got excellent service from folks I was starting to tip 30-40%. Then the market tanked, but I found that doing this was an event with important social consequences. I had someone ask me to stop once because they thought I was trying to buy their favoritism or something but I explained to them there were no strings attached and it made them think more about their job - did they do a good job? I found that for some, I think they became proud of their job - they felt like they were doing good. In return, I think they actually provided better service for everyone. You get a 40% tip and the rest of the day you feel like you are a good worker, a good person, and I think a lot of folks in the service industry turn that attitude into a self-fulfilling prophecy. So I didn't stop, even though it was expensive. The social benefits of generous tips caused ripple in how people saw themselves and treated others. To be fair, there are some who think they are good con artists. Fair enough. I'm not tooting my own horn, I'm suggesting that the technology we are involved in - the technology that is aimed at bringing that sense of value and purpose to millions of people all over the world who right now are told they are not worth enough to be banked. @xrptipbot can probably tell you more than anyone in this space - tips are not a joke. Tips influence behavior. Micropayments are going to cause social transformation in many countries - I'd say it will be revolutionary - perhaps even politically or socially. And so I would encourage folks to think carefully about the social ramifications of the technology that exists, and understand the price means nothing unless actual value is transferred - it's the value, not merely the price, that you should be holding. Consider the value of not just making money, but witnessing the process of broader value being made. Sending value in seconds - if you are a student studying abroad, that could be love you are receiving from your parents. It could be companionship of friends splitting bills. Human value is socially expressed using tokens of affection. There is an emotional piece to all of this. I'll leave with another example of sending value instantly that doesn't involve cryptocurrency or blockchain at all, but is still an example of instant value being transmitted digitally: My immediate thought on watching this video - if that was my daughter and I was deployed in a foreign country or living far away, the value of that moment would be both incredible (and somewhat devastating once the call was over) - that's the power of transferring digital value in real time in a way that has an immediate impact on people's lives.
  10. I stand by my prior statement on the price, because oddly enough many of the things I said then are still entirely applicable now: While some things have changed since the fall of 2017, many of these things have not. And yet folks waltz on in here like the they just discovered electricity ahead of everyone else and can't believe how stupid everyone else is. I wish we had a constraint where until you've got a decent rep score you are forced to browse the archives. Just so many people log on here and act like the room has been empty and devoid of intelligent conversation until they showed up. Selling 1 million XRP per day? Awesome, that provides additional liquidity for more people who actually want to contribute to the ecosystem to do so. I hope banks and market makers in India are satisfied with that. Better to get out of the game if you can't provide the utility and you've got debts to pay and or mouths to finish feeding while you unwind. Did you miss the video where Ashish B hoped they could give XRP to every person in India? Money that is not spent in commerce does not find new markets - money that does not find new markets cannot appreciate. xRapid has algorithms that actually try to trade at higher prices IIRC - the system when used to capacity is designed to enhance the price as often as possible for those involved. Cashing out now seems like a dumb move, but if you have to derisk because of other business decisions you've made - so be it. But blaming Ripple for selling a business asset to someone who wanted to buy it and planned to develop systems that would use it - calling it a bad move and stupid? What kind of nonsense are they teaching in 'business school' these days?
  11. I keep thinking about how the velocity of xrp works at a disadvantage in terms of price at the tiny volumes that crypto represents. The last major run up was plagued with inefficiency across the board thanks to a small number of exchanges that had tons of downtime and slow verification of identification and sluggish fiat payment verifications. When corridors are inefficient at this small scale, slower glutted assets become a unintentional store if value because their liquidity is hampered. Xrp is easiest to get money in, and now with many exchanges supporting it, it is easy to get out. This makes it very stable as a value transferring unit, but seems lousy as a store of value until all of the free supply is exhausted. It is going to take a long time for that to happen - if ever - because the intent for ripple's use case for xrp is antithetical to store of value usage. There is more value to using xrp as a utility rather than holding onto it at volumes this low. I think investors who want value to rise based on scarcity will have at least 8 years to wait for scarcity to hit the markets. But by that time fiat currency all over the world will have undergone a global recalibration to digital seamless currencies - and this could easily saturate xrp via ilp traffic. We've seen the adverse effects that high values on pow coins have on the functionality of their underlying transaction layer - high fees, longer verification, longer validation. These are not human scale projects. Neither is xrp, but I feel like it must be very far ahead in the marketplace in achieving this. This, to me, is why it is running away from the pack in terms of diverging from hype cycle performance seen elsewhere this year. I see xrp as being the first to emerge from the volatility cycles of speculative small cap adoption. The calm is coming. This will be one of the unintended consequences of major institutional players entering the space. Regulation and institutional ownership will irreversibly change the markets. Most exchanges will not compete - sucked dry by the big chaps. Many of them will disappear, and the tokens that exclusively get listed on one or two exchanges will see their liquidity drop and abandonment rates of wallets will be the next big statistic to follow. Like many other institutions that rely on inefficiency to retain their value as rent seeking gatekeepers, Bitcoin leverages slower tech, name recognition and artificial scarcity to keep its value up. It is not firmly standing on ever-increasing demand or utility - at the market caps we are seeing, it's a game of expensive hot potato, which is almost worse than a bubble. Once it becomes a professional tool, the volatility of Bitcoin will drop and we'll see how faster derivative layers built on top of it will remove the inefficiencies and lack of demand will reduce it to whatever price is best for how institutions use it. I think that in the end bitcoin's sole value will be as a scarce fundamental instrument that drives a number of derivative market (where the traders will flock) and it will float like gold does. Xrp, on the other hand, will likely provide settlement services for those derivatives. It wouldn't surprise me at all to find out that SBI is secretly building a derivatives platform that it can layer over other digital assets and relies on xrp. My point is, you will eventually have centralized derivatives product networks powered by things like JPMCoin that will draw trader attention and speculation off the base assets. You will also have centralized international networks of exchange that rely on decentralized protocols like xrp over ilp to do their daily business. While derivatives suck the liquidity out of underlying asset markets, the rails that drive the liquidity of those markets will create true token scarcity and an alternative source of value. There will be a flippening of contract coins and transfer tech against store of value coins as this evolution shapes up. It is the long game we play as ETH/XRP/ADA etc holders - that utility is the tortoise that will beat the hype hare in the long run. And the whole fiat thing on top of that. 1 xrp will be $1000 - when there is a global bond selloff and countries use the revenue to invest in digital asset architecture. Digital asset prices will fly for a short time. Be wary of what that $1000 is worth. Might be better to have the xrp.
  12. What about fake accounts, KYC and AML? I cannot wait to see the faces of all the advertisers who were quoted rates on expected traffic and active user counts when those fake accounts and robo accounts get culled and we get to see the real numbers of human users eligible to participate in the facebookcoin ecosystem.
  13. This is clearly a place where Ripple wants to shine as production ready - they are watching the validators being bought by other major payment networks and are keenly aware that facebook is unlikely to have a developed product of their own until 2020 - while Ripple tech works, has a streamlined implementation process now, saves money, keeps customers happy potentially and is production-ready now. That's the message I got from the latest Brad Garlinghouse interview on the topic. I think facebook's announcements and the variety of $10million contributors to the libra project really lit a fire under the stack of partners in pilot phase or otherwise sitting on the fence regarding active participation in RippleNet - and if they can be offered incentives to run validators and decentralize the XRPL even more, so much the better. Moneygram is the first domino to fall of many, and facebook pushing the time envelope is just the nudge needed to set RippleNet partnerships in motion. Very exciting times.
  14. I do not see the issues with the messages I receiving. Sure you are winning, right? God bless you.
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