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Everything posted by brianwalden

  1. They've been late from the start. Bitcoin was years ahead of them to the DLT game. Yet, somehow they're also too early to gain adoption. Ripple had a decentralized ledger in 2013, way before DeFi became cool, and no one wanted to use it.
  2. If you have to ask, you're not the real Chad in this thread.
  3. Just today I bought my name on Unstoppable Domains. They don't advertise it as a fancy pants NFT, but it looks like that's what they're doing. You buy a domain from them, whatevername.crypto, and then you claim it. That means they send a token to the Ethereum wallet of your choice that indicates you're the owner of that domain. You own it as long as you have it in your wallet, no yearly fees. That means selling the name is as simple as sending the token to someone else. One neat thing is you can attach various wallets to your domain name, Bitcoin, Ethereum, (I don't think they support Rip
  4. NFTs are the hot new thing in crypto, but I don't really know why. I was trying to think of good uses for them. One idea I thought about is car titles. If the car title was represented as an NFT, it becomes easy to transfer the title if you sell the car to someone else, and the ownership history can be tracked on the ledger. You could abstract it a step further and have the NFT represent the car itself. Then you can tie not only the title information into it, but everything about the car. Outstanding loans, insurance information, accidents and repairs, state inspections, all the relevant
  5. I'll play devil's advocate for purposes of discussion. In reality I don't have strong opinions, I'm waiting to see how this all plays out. Also, I didn't watch the video (sorry, I'm that guy), so I could have no idea what I'm talking about. I hate to break it to you, but even a decade into the cryptocurrency era, 90% of it is just swapping useless coins around. The practical use just isn't there yet, for a number of reasons. What I find so interesting about DeFi is that it gives you the option to not just swap useless coins around. The biggest draw is the passive income aspect of it. You
  6. Do you think they just counted up all the IOUs on the ledger to get to 5400? That means they counted my prayers and thanks and dad bucks and hot dogs. Man, I miss the days when people used the ledger.
  7. Here's the thing, I don't doubt that they got legal advice telling them that XRP would be a security. I also highly suspect that they got other legal advice telling them how to navigate the waters to make sure it wouldn't be a security. You've been around Ripple a long time, @kanaas, they've been seeking out legal advice and carefully choosing their strategy the whole way. That doesn't mean Ripple didn't do anything wrong; I just don't find the evidence of the legal advice to be damning in and of itself unless it somehow was the only legal advice they got. TLDR: Ask two lawyers, get three
  8. If you're curious, or you're stuck between two types and not sure which best describes you, I found this guy really helpful. Here's his summary of the MBTI types in both video and text, you can pick the few you're not sure about and see which one fits you best. Video: Text: https://subjectobjectmichaelpierce.blogspot.com/p/the-sixteen-types-original.html Ok, I'm done geeking out.
  9. I'm glad someone revived this. I'm an INTP, but the online tests usually skew me towards INTJ. I hate taking the tests, I overanalyze the questions and find that they're based too much on behavior and not cognitive functions. Two very different types might do that exact same thing, but they're going to do it for different reasons. I guess most people taking a 10-minute free test aren't introspective enough to think about that though, so they just ask you about stereotypical behaviors. I've found MBTI helpful, for understanding that people are wired differently and that's ok. That's not an
  10. Come on man, you've been around here since 2017. The XRPL has been a multi-currency ledger since its conception. You can put anything on it. I've literally sent hot dogs across the ledger.
  11. It's based on your community reputation, that green number next to your name. I think you'll hit bronze at 1000.
  12. The new blockchain Tesla: you can go anywhere in the world in 30-60 minutes for about $20 worth of electricity. Only downside is it takes that long and costs that much to drive to the next neighborhood over.
  13. Assume, hypothetically, that XRP is a security. Is FXRP, a coin on the Flare Network that's pegged to the price of XRP but backed entirely by FLR, therefore also a security?
  14. You can still do it. The functionality is all there. The problem is humans. Humans don't want to use XRP for payments, they want things denominated in their fiat currency so they're not exposed to the volatility. Solution 1) Use trustlines to create a peer to peer network of trust. My USD payment will ripple across a network of trust until it finds someone trading USD for XRP and then someone trading XRP for GPB and then Ripple across the GBP trustlines until it teaches it's destination. It's a wonderful solution, but it doesn't work unless you have a whole bunch of people using the ledge
  15. While I'm not going to buy the coin, I'm excited that someone is using the XRPL to issue currency. Ripple changed the preferred term from IOU to Issued Currency some time ago. CSC is a good example of something that's an issued currency in and of itself on the ledger. As far as I can tell it's not a coupon that can be redeemed for casino chips or something like that, like the IOUs from the old-school gateways. The CSC tokens on the XRPL are the actual asset and I think that's cool. I hope this catches on. If your coin is just a unit of value and doesn't need to be smart, issuing it on the
  16. Your FAQ on the airdrop was great. I used it to claim for like a dozen wallets. I went looking for other Ripple groups. It's amazing how uneducated the typical crypto speculator is. They pick their coin for whatever reason, and then they learn just enough to be able to rationalize their decision. But they have no understanding of what it is they've bought into. It's crazy when you think about how volatile crypto is, or even how easy it is to send your money to the wrong address and never see it again. This place is a nice little backwater of the internet with a good amount of thought
  17. Thanks for the TLDR. I wasn't going to watch the video but I enjoyed the summary.
  18. I'm with you. The only thing I picked up on is that XRP can be used as a hedge because it's price doesn't move like other assets. Generally speaking, I think Ripple is in the same position it was 5 years ago. It's got a good set of products and services, but it can't really utilize them on a large scale without legal clarity and regulatory compliance. Don't get me wrong, I think Ripple has done a ton of work over that time toward solving those problems and developing the relationships to be able to move forward once the environment allows it. Ripple is trying to put itself in the best position
  19. So I think the 20 XRP thing you're asking about is the wallet reserve. This is a part of the XRP ledger designed to stop people from creating unnecessary wallets. To activate a wallet for the first time you have to send it at least 20 XRP. Those 20 XRP are locked in as the wallet reserve, they can't be spent. This creates a cost to creating new wallets. The reserve can be changed, so if XRP goes to the moon, the reserve amount can be lowered. It's not meant to be a prohibitive cost, it's meant to stop people from creating hundreds of new accounts unless they really need them.
  20. We were all new once, it's a leaning experience for everyone. Here's the thing about cryptocurrencies that most people have a hard time wrapping their heads around. The wallets don't actually hold the coins, they just hold cryptographic keys that let you sign transactions from that wallet. So there is no limit to how many coins a wallet can hold. Imagine an Excel spreadsheet (or if you're old school, a paper spreadsheet) to keep track of how many coins everyone has. But unlike a normal spreadsheet where one person makes all the edits and updates (and could possibly cheat when no one is lo
  21. Anyone with a Ripple wallet can issue tokens on the XRPL. It's nowhere near the same thing as forking the ledger.
  22. Is there some way to not count this as a sale? This is like depositing paper dollars in your bank account and then depositing them from your bank account into paypal. You're handling over bills and getting a credit with the bank, then handing over your bank credit for a PayPal credit. It's not your actual bills moving from place to place but an exchange of one thing for another. Being taxed for converting XRP into FXRP is like being taxed for converting money in your bank account into money in PayPal. They are both representations of the same thing, XRP, in two different accounting system
  23. Oh man, I didn't think about that. That's kind of crappy, because conceptually it's not selling your coins but transferring them to a different ledger.
  24. On Flare. It really is complicated and hard to understand. That's because it doesn't exist yet. It's an abstract white paper that's lacking in a lot of the details. We will find out more as we get closer to launch. It will have easy to use interfaces (at least for people used to crypto, it won't be easy for normies) that will cover up how the sausage is made. Will it be an ETH killer? I don't know, but probably not. Ripple was designed to be a better Bitcoin, but has yet to live up to that promise. It is a better Bitcoin (faster, cheaper, multi-currency, etc.), but being technically bette
  25. I wouldn't say should. The secret key and the recovery phrase are the same thing, just represented in two different ways. You only need one. I just get nervous that I'll mess one up, so I like having it saved in two ways. I've never used Toast, but it's been discontinued now, right? If you can still get into your wallet and see if it will give you the private key, I guess it can't hurt to try. Just don't download any new software that claims to be Toast. I've heard that the Toast Plus app is a scam that steals your XRP.
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