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Danny

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About Danny

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  1.    Danny reacted to a post in a topic: Faysal bank Parkistan on Ripplenet
  2.    Danny reacted to a post in a topic: Breanne Madigan - OECD
  3.    Danny reacted to a post in a topic: Third-Biggest Crypto Coin Barely Causes a Ripple Amid Rally
  4. Danny
    My mistake, you are correct. I couldn't resist contacting BoE to ask them about the details and this is what they replied to me this morning: We can confirm that the Bank of England (the ‘Bank’) does not have a current relationship with Ripple, and that the Bank does not use, license or operate any Ripple software. In the first half of 2017, the Bank undertook a proof of concept (‘PoC’) exercise with Ripple. This was one of many PoCs which it undertook with several companies. The PoC looked at how Ripple’s Interledger Protocol might be used to synchronise payments across two RTGS (Real-time gross settlement) systems and was conducted on segregated technology and was not connected to any of the Bank’s live payment systems. The products used at that time were Ripple Connect and the Interledger Protocol. Both of the above mentioned products do not use, or require XRP cryptocurrency and I can confirm that the Bank did not purchase, hold or handle XRP as part of that work. Further details about the PoC are in the relevant news release which can be viewed on the Fintech section of our website at: www.bankofengland.co.uk/research/fintech/-/media/boe/files/fintech/ripple.pdf Kind regards Public Enquiries Bank of England I also asked them if BoE would be using the RippleNet blockchain network in the future. They did not answer that unfortunately.
  5.    Danny reacted to a post in a topic: Ripple’s XRP Escrow is Officially Under 50 Billion XRP
  6.    WuWei reacted to a post in a topic: Third-Biggest Crypto Coin Barely Causes a Ripple Amid Rally
  7.    Danny reacted to a post in a topic: Level Playing Field Video
  8.    blueorchid reacted to a post in a topic: Third-Biggest Crypto Coin Barely Causes a Ripple Amid Rally
  9.    Danny reacted to a post in a topic: Ripple partners with Pakistan-based Faysal Bank to facilitate cross-border payments
  10.    Danny reacted to a post in a topic: Ripple partners with Pakistan-based Faysal Bank to facilitate cross-border payments
  11.    3GO3D reacted to a post in a topic: Ripple partners with Pakistan-based Faysal Bank to facilitate cross-border payments
  12. Danny
    @supernelson what is your own take on this?
  13.    WuWei reacted to a post in a topic: Ripple partners with Pakistan-based Faysal Bank to facilitate cross-border payments
  14.    Mpolnet reacted to a post in a topic: Ripple partners with Pakistan-based Faysal Bank to facilitate cross-border payments
  15. Danny
    I believe it wasn't.
  16. Danny
    I'm not too keen on price predictions but hey, if Ripple continues to expand its network at this pace (I can't think of a reason why that would change), the sky is the limit (not necessarily referring to price). In all fairness, who is doing what Ripple does? I'd like to quote Brad who publicly said "we've crossed the starting line of a marathon and really no other company in this space has."
  17.    Danny reacted to a post in a topic: Ripple partners with Pakistan-based Faysal Bank to facilitate cross-border payments
  18.    Danny reacted to a post in a topic: You Are Not Mistaken
  19.    automatic reacted to a post in a topic: You Are Not Mistaken
  20.    Hodor reacted to a post in a topic: You Are Not Mistaken
  21.    Danny reacted to a post in a topic: You Are Not Mistaken
  22.    Mpolnet reacted to a post in a topic: You Are Not Mistaken
  23. Danny
    Exactly. Metcalfe's law.
  24.    GoldenGoose reacted to a post in a topic: Your XRP: Limited Supply. Cryptographically-Secure. Censorship Resistant. Future Proof. Immortal.
  25.    Hodor reacted to a post in a topic: Your XRP: Limited Supply. Cryptographically-Secure. Censorship Resistant. Future Proof. Immortal.
  26. Danny
    You're sharp @GoldenGoose 🔪
  27. Danny
    I second that. In one of his most recent videos, Alessio Rastani asks analyst Zak Mir if BTC is going to 100K in one year from now. His analysis is interesting and to me a case for XRP.
  28. Danny
    In addition to what you said, I'm wondering if a gold backed XRP is still able to settle instantly. We know that a stablecoin backed by fiat, transfers liability, not value, because the fiat backing the coin is located somewhere else. A gold backed crypto IMO also transfers liability, not value, because the gold backing the crypto is located somewhere else. Another disadvantage of XRP being backed by gold or anything else, is the possibility (likelihood) of usage of a reserve ratio. Look at Tether. Only 74% of its reserves has USD and equivalent backing. And reserve ratios can be changed over time. I'm not an expert but if you want to be able to devalue fiat against a virtual currency (as Carney suggested), I think that virtual currency has to be 100% independent and outside of the fiat system and anything connected to that system. Carney did speak about 'a Libra-like coin', but I believe the envisioned Synthetic Hegemonic Currency won't be pegged to a basket of coins because that virtual currency itself will devalue as soon as one of the coins backing it, devalues (assuming the other coins backing it keep their value). Ps. Galgitron in his tweet compares 'XRP backing by gold' to 'gold backing by platinum'. https://twitter.com/galgitron/status/1152990651132325888
  29. Danny
    You definitely may want to read first what @jag216 said about it.
  30. Danny
    Unfortunate that Brad has to give these comments, but I understand they're necessary.
  31. Danny
    @Johno not sure if this applies to your remark about cash being the problem in the super low interest world, but I read that the IMF has floated the idea of creating 2 separate currencies: e-money and cash. https://www.finextra.com/newsarticle/33410/imf-wonks-suggest-separate-cash-and-e-money-to-enable-negative-interest-rates
  32. Danny
    I have not studied XLM but I read that the difference between XRP and XLM lies in whom the blockchain and token target. "Stellar Lumens is for the average person, particularly those in the developing areas of the world, although banks can still use it. The focus of Stellar is on increasing the abilities of those in poor or less-developed countries to interact in the global economy with nearly instant and highly affordable transactions."
  33. Danny
    Without XRP, Ripple will not have a bridging asset, they won't be able to create an 'internet of value', nostro and vostro accounts continue to be needed and you don't have instant settlement.
  34. Danny
    Are you aware of the fact that the Bank of England is a paying customer of Ripple and that the Financial Conduct Authority has conducted research and confirmed that XRP is not a security? That means in the UK there is clarity and regulation regarding XRP. In addition to that, the FCA has recently set and published cooperation agreements with the SEC.
  35. Danny
    Brrr... that's scary @Cooliozxrp 😱Are you sure you don't want to sell your XRP?
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