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xtrapower

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xtrapower last won the day on January 26 2017

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  1. Look at the people in this forum. We got the same kind of Ripple maximalists running around here. Problem is not a specific community (the Bitcoinista crowd has obviously degenerated very quickly and badly) but the way some people approach investments in general. They buy a token, fall in love and before u know a new crypto zealot is born. On chain governance by token holders is the only viable solution to prevent civil war inside a specific community (like the small blockers vs big blockers nonsense) but the fighting in general will go on.
  2. Very misleading title @cmbartley - that's not an "Ethereum bug". Problem is that exchanges are close to criminal behavior again when they refuse to check user input. This is simply bit-shifting valid parameters. This is very basic security. When an exchange that manages hundreds of millions of dollars is not filtering user input in a input form and a attacker is able to execute SQL code would u say "Serious bug in SQL again"....? No u would say it's an SQL injection and the exchange is to blame. Most exchanges are run by amateurs - just look how easy it was to steal 80 million USD in Bitcoin from Bitfinex. What a joke. U should check if a address is valid for the sole reason to prevent customer mistakes.
  3. No, fees will always stay negligible. The uncomfortable truth nobody likes to talk about is that Ripple controls 62B and 3 founders control another 20B XRP. So there are only around 15% of all XRP available to the free market.
  4. This switch was more than overdue. Counterparty is dead. Bitcoin has priced out that use case.
  5. This comes hand in hand with it's newly added margin trading. https://blog.gdax.com/gdax-adds-margin-trading-27fea7ad53ea#.jv4yg5k4h Interestingly you have to qualify as a ECP to use it though: https://support.gdax.com/customer/portal/articles/2725812-what-is-an-eligible-contract-participant-ecp- Basically u need to be a high net worth individual or institution with $5M+ capital. Gdax was leading the 400% ETH run for quite some time, prices were constantly $2-5 higher than on other exchanges and volumes were very good with $15-30M. Whereas volume has cooled down a bit during the recent consolidation it might and partly already has become an entry point for institutional liquidity (beside Gemini) from wall street. Good for crypto in general to see that happen. LTC is only there because it's creator is CTO @ Coinbase. A bit unprofessional if you ask me.
  6. I don't think a rapidly growing Ripple with very limited money inflow can 1) afford and 2) explain to their VC's why they should buy bigger amounts of XRP since they already hold more than half of all XRP in existence. It's not sustainable. Beside even if u pump 5-10 million into this experiment it's nothing compared to the buy side other tokens have. People are pumping hundreds of millions of USD into ETH. Someone recently bought ETH for 25 million USD on Gemini in a single order. Liquidity was provided and instantly consumed, a coordinated thing. Gemini probably functioned as a Bitlicense regulated intermediary for regulatory purposes. This is where we want to go... open market dynamics will dwarf any artificial MM program. It can start things off but nothing more.
  7. Vinnie is only pointing out the obvious here. XRP and the RCL is going nowhere since 4 years and some if not most people in this forum are living in a thoughtbubble. Next false point of hope is this whole Japan/SBI thing which is massively overhyped but most likely nothing will come from it for the RCL and XRP. Which brings me back to the topic of this thread: We need more info. There is no strategy whatsoever, no outlook and no way to be confident. Ripple exec's talk only Bitcoin in 30min interviews and mention XRP with no word. I honestly don't know why i'm still here arguing. I guess because most of the core development team is still here and interacting with us. And i'm very much convinced that the RCL is a magnificent piece of software.
  8. Money has some specific properties that make it good or bad at doing it's job. If some cryptocurrencies do the job better than fiat it's only a matter of time until they become dominant. Stablecoins like DAI or PHI are very interesting. Why not use the better option? It's hardly a anarchist fantasy but a logical consequence.
  9. Ok i get this, i once developed a MM bot for an exchange which was doing rather well. I don't get your point though. Again: Ripple can't provide liquidity on it's own since they can only offer sell side liquidity. XRP need to get the whole speculation machinery going which will slowly add buy side liquidity (demand). The technical fundamentals are there.
  10. I don't really get your other post above. XRP has potentially gigantic sell side liquidity. Which is worth exactly nothing because the buy side liquidity is non existent. Where should the demand come from?
  11. Agreed. What i would like to see from Ripple is some coordinated effort (including radical changes) where all those things are coming together. 1. Burn the majority of XRP. Ripple can't hold more than 5-10%. 2. MM programm: Lock up a big amount of XRP in a smart contract which automatically distributes XRP to liquidity providers. 3. Work together with their numerous FI on the MM programm. Find a few big enterprise customers which use the existing liquidity to provide some of their daily services. 4. Let some of those participants run public validators. The XRP impression will completely change: from a centrally controlled network with a XRP central bank to a public network which is providing liquidity for enterprise customers around the world. Speculators will do the rest, be assured.
  12. Agree but this is only adding to my main argument: Those centrally planned and artificial approaches to create liquidity can't compete with open market dynamics we currently observe. The thing which is currently building up liquidity, especially big buy side liquidity are speculators. The speculators everybody kind of discredits all the time currently ("no real world usage, just speculation"). The speculators are a inhomogeneous crowd of long term holders, part time traders and professional day traders which together are building up liquidity very effectively. Speculators usually follow the long term outlook of a platform. I don't think Ripple can start building up liquidity themselves since they can only provide sell side liquidity.
  13. I'm curious about that too. But i've my doubts about that one too. Artificially creating liquidity for an asset by rewarding liquidity providers with the exact same asset will only create more downward pressure and will in fact disincentivize holding the very asset you want to strengthen. I'm quite sure that this centrally planned approach can not compete with the open market dynamics which we see unfold recently. Global crypto daily trade volume hit a record of 1.5 billion USD recently which is simply amazig and a massively underappreciated milestone in the blockchain world. NYSE is doing around 30 billion daily afaik.
  14. Problem with usefulness of XRP is that is derives all utility from volume and liquidity. The famous chicken and egg problem we are talking about since years. Until now the only kickstarter for bootstrapping liquidity seems to be speculation. It's working rather well. Ripples top-down approach has not created liquidity at all and it seems like they came to the exact same realization when they readjusted their strategy recently. But i think it's safe to say that XRP has not the best standing in the retail crypto world... so i'm not particularly confident in that path.
  15. Well the general sentiment in crypto land is that volatility is mainly expected to occur on the upside Global Crypto market cap has more than quadrupled since last year.
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