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at3n

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  1. Ah it's just a bug in code somewhere, looks like on MEW's side. The fact that you can use MEW to access Ledger or Trezor devices is testament to the fact that you're not relying on a single company to access your wallets. As long as Ledger make sure that their last version of firmware is ok before they go out of business, we're all good 😜 (Just keep the recovery phrase safe, then no worries!)
  2. I suppose that "settlement" in the case of Payment Channels is when the recipient redeems the claim. At that point they receive the XRP into their wallet. That could happen every ledger, or less often, as decided by the recipient. So if the recipient needed immediate settlement, they could choose to do so, every 4 seconds or so. But if the recipient decided to wait longer between redeeming claims, then although settlement is not immediate, it will still average to a certain number per second. Say there were 30,000,000 off-ledger transactions in 10 minutes, that were then redeemed. Although the first transaction effectively took 10 minutes to settle, as a group the whole lot of transactions averaged to 50,000 tps settled over 10 minutes. That would be my definition of it anyway Until the claims are redeemed, it is like an IOU, but it's cryptographically enforceable, there's no way for the payer to back out of the deal. The only way that it would not be settled would be if the receiver of the funds screwed up and didn't claim in time, which would allow the payer to close the channel without paying. But as long as the channel is open, the recipient can choose to have it settled on demand.
  3. Ripple paying validators would be a step in the wrong direction for decentralization. How could the network be seen as decentralized if the decision-making nodes were all being funded by the entity that holds the majority stake? Even if the reward scheme was transparent and not based on agreement with Ripple, per se, it would be easy to imagine that behind the scenes, validator operators who were motivated by money alone, would feel pressure to side with Ripple on any proposal.
  4. They store an encrypted version of your secret key, encrypted with your Gatehub password which they don't store. When you want to create a transaction, the encrypted key is sent to your browser, which uses your password to decrypt it and sign the transaction. So Gatehub servers should have no way of retrieving your key by themselves. Of course in theory they could capture your password as you enter it and use it maliciously, but at least it's not quite as easy as having direct access to all the keys immediately.
  5. @MightyCat Gatehub works in both ways. You can use its "hosted wallet" service to to receive a destination tag and your XRP gets pooled with the other Gatehub users. In this case, they don't require you to deposit the 20 XRP reserve. But you can also just use it as a wallet, in which case it generates a new address for you, and you are given the secret key, and you need to provide your own 20 XRP reserve (although in some cases they may fund that for you). Gatehub also stores the secret key (encrypted), so that you can use their wallet service to make transactions. I'd suggest that you get a Gatehub account and play around with it, it sounds quite similar to what you're suggesting. By the way, the way that Gatehub makes money from the average user is by the transfer fee charged on all transaction using their IOUs (EUR, USD, BTC, ETH... Not XRP). You may be aware that this is different to the XRP Ledger transaction fee. In Gatehub's case, it charges you 0.2% of the value of the IOU transferred (by payment or trade). This is enforced by the XRP Ledger itself, not by Gatehub using your key to reach in and take your funds. They might also charge a percentage on Fiat and Crypto (not XRP) deposits via their gateways - they didn't used to do this, but started in January, I don't know if they stopped it again. Basically, if you just use Gatehub to send and receive XRP to your private wallet, or to trade non-Gatehub IOUs, they won't make any money off you directly, because you're just using them as a user interface to the XRP Ledger, and they don't charge a subscription fee.
  6. The model you're proposing is how Gatehub does it, basically an online wallet service. They make money by running a gateway service alongside it. I wouldn't worry about draining the global supply of XRP, it's working out ok so far with all of the other wallet software and services! If you have a business idea then don't let that stop you. Hopefully by the time adoption is as large as you're speculating, the price will have risen significantly, allowing Ripple/The Community to lower the reserve amount. There are many different opinions on this though. Many seem to like the idea of imposing a high cost to set up a wallet.
  7. at3n

    Signing is not supported by this server

    The sign command is now disabled by default in rippled 1.1.0, and will be removed in a future release: https://github.com/ripple/rippled/pull/2657 Thankfully, as it's such bad practice from a security point of view.
  8. at3n

    Security for future wallet owners

    Then they target the destination wallet... It would just be a delayed theft. Escrow is not security, just a time delay. I guess it would make you a less desirable target, but to technically protect your wallet you need to take other precautions.
  9. at3n

    Ledger recovery

    Maybe in the case of the OP, where they have the words and know some are right and some are wrong, but without any starting point it would be infeasible to brute-force it. Yet.
  10. at3n

    Ledger recovery

    Why? Think of it like a 24-character password. Normally for each character of a password you would choose from one of about 95 printable characters (which are also the same on every device). But with BIP39, each "character" in your password is one of 2048 words. An awful lot stronger and harder to break.
  11. at3n

    Ledger recovery

    They allow you to make transactions without risking exposing the secret to human eyes, cameras or a compromised computer, and also provide a means of storing the secret in a format that inherently requires two factors of authentication to access (something you have and something you know), with a handy self-destruct feature also! I think that's an important combination of attributes that neither a paper wallet or software wallet can provide by themselves. Not saying they're the best thing to use in all circumstances, but a valuable tool that I'm glad is available to us.
  12. We can't help, except to advise you what to do. You must contact coinpayments.net and explain what happened, and hope they will refund you. It looks like you sent the XRP from an exchange account, so if coinpayments.net does refund you, make sure that they know to include your destination tag for the exchange, or else you will be in the same situation again.
  13. at3n

    XRP and privacy

    Destination tags could easily be rotated, and I wouldn't be surprised if each xRapid transaction intentionally created a unique destination tag, both to provide easy tracking of the transaction internally and for privacy.
  14. at3n

    Bitbank's JPY Gateway

    I think that page on XRP Charts is the only one that shows off-ledger data. Those exchanges aren't gateways, they're just exchanges and XRP Charts is presumably accessing their public APIs. Note that the entire XRP Ledger is listed on the same page, as it's its own exchange.
  15. Agree, from XRP's point of view, but Ripple have the securities issue at the moment. Hopefully after XRP is declared not a security, it can relax a bit.
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