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Frans

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  1. yes, they take out exchanges on the sending side not sure if they'd even use a premium, since they are getting paid for use of their XRP in the first place, at least, in the case of LOC receiving wallet has the option to sell into FIAT, but seems to be optional from what I read (point 12 in the patent: https://uspto.report/patent/app/20210192501 ) I think .... again, very formal language I am not entirely used to correct me if I'm wrong and the imbalance, well, that's where the RL salesreps come in. They need to find clients that can use corridors in the opposite way asap. Bob Way once said this should be a salesreps' dream: going to a client and tell them: I have a faster, better, safer AND cheaper solution for you
  2. they actually started reporting buybacks in their quarterly reports a year or so ago iirc
  3. maybe, but it would be a better idea to get a client sending into Aussie land and use that FIAT for receiving clients in AUS, which they should be trying to do anyway
  4. Not sure anything changed at the endpoints. Yet ... However, LOC and what I read from the patents, all points to them having taken over the starting points completely. ODL2 seems to be all about RL providing XRP against market value to clients, hence the price feeds they mention, as well as the crypto wallets. What Mickey and Patty seemed to forget to mention in their vid today, is that RL actually gets paid for LOC. They provide their clients with (starting) capital and get paid for use of the XRP RL already hold I find that a stroke of genius tbh, because they make it easier for their clients to enter into new corridors, thereby bootstrapping those corridors, while getting paid for it This is also why I believe they're buying back XRP, like they started mentioning some time ago in the quarterly reports. I am not cvonvinced they'd want to flood the market, thereby influencing price PS Something did change at the endpoint if I read the patent correctly (which is a disaster for someone who is not a native english reader) and that is that XRP gets sent to the receiver's wallet, with an OPTION to convert the XRP into FIAT, unlike ODL1, where that conversion into FIAT was a given
  5. This is exactly what I think is happening. They buy back XRP on the originating exchange or they'll end up bagholding a ton of Aussie Dollars in FlashFX's example This way they do not continue to hold AUD which they can use for nothing and they keep their stash of XRP (nearly) constant while not creating (more) selling pressure @mouradski have you tried this ? going from the assumption that the buy on the originating exchange happens AFTER the sell on the receiving exchange instead of before ?
  6. I have a screenshot from Kraken_USD from last september. The fact that it had _USD in the name indicates that at the very least @mouradski had already seen Kraken supports more than just USD, but I cannot say for certain if nothing ever moved over Kraken_EUR before. Could be, even though I a not sure if it's necessary, since the flows from the Bitstamp XRP_USD and XRP_EUR pair were already in place well before Bitstamp had started splitting US customers from the rest of their customers. What I mean is that eg MGI might have been working from an account based outside of US all along, which would make it moot. But I am not sure about the intricacies of how the SEC complaint, that has to reach a resolution first, would impact MGI's using XRP via wherever. Regards
  7. @mouradski I was wondering, do you still see any/or the MGI payments in the list you showed with al transactions per exchange address ? Or have they somehow disappeared entirely from the ledger's / apis' output ?
  8. 100% agreed, several clients use it for backend fund management, others are sending client funds. David Schwartz has tweeted about this around june 8th this year, when MGI temporarily stopped sending. Some clients do not feel comfortable enough, yet, to let their clients interact with ODL directly. If there'd be an issue, they'd rather have that in-house, instead of having clients affected directly
  9. Thanks man, was afraid we'd lost you Yeah, the jump took everyone by surprise probably, guess tons of US citizens sold already, so maybe this is the rest of the world moving on, trading and hodling Gotta love these puzzles
  10. Thanks, haven't heard anything about it either for some time, maybe it was just @nikb thinking out loud on twitter ?
  11. It might be that they're testing the flows, so not sure when volume might pick up. But the fact that SBI VCtrade is live is huge imo, because of what mr Kitao has been setting in place around the whole eco system regarding XRP
  12. You're right, I probably was a bit lazy at that time. This should have been: MGI's computersystem electronically gives Ripplenet the order to send money to a client in Mexico using ODL/XRP. (remember they also (can) use the old rails, if liquidity at receiving exchange is not sufficient (yet).) MGI's systems are integrated with Ripplenet via apis: So, atm it seems like someone at MGI (treasury department) has to fill in an amount in MGI's UI, that is connected to Ripplenet via an api, and click send. At that moment, Ripplenet takes over: credits MGI's (dollar)account at sending exchange -> sets buy order/buys XRP -> sends XRP to receiving exchange -> sets sell order/sells XRP into MXN and those MXN are debited to MGI's (peso)account at the exchange. At the moment MGI then probably moves it from their account at the exchange, to their bankaccount, from where the 'shortages' in Mexico will be refilled at their kiosks, etc. Wherever the cash is needed. Important here is that since the exchange is integrated into Ripplenet, this whole step might also be automated if MGI's bank in Mexico is also integrated into Ripplenet. Ripplenet will probably move the money into MGI's bankaccount automatically as well if that is the case. Ideally the whole flow encompasses debiting the receiving family's bankaccount as well. Although Daniel Vogel, CEO of Bitso, once explained that Mexicans rather have cash than money in a bankaccount, so not sure about this last step. Like I said some time ago, Ripplenet is the mother of all tradingbots, and then some The sending/clicking will one day be done by MGI's clients, the actual person that's working abroad and wants to send money home to his/her famliy. I think FlashFX and others actually already do that. The client gets a quote (how many Mexican Pesos their family members will actually receive) and when client clicks send, Ripplenet's ODL does its magic Ohhhh, interesting ! Cool, thanks ! Likewise ! Back to utility-staring again
  13. Hi @JASCoder ! I am not sure what you mean, language issue perhaps, I am not a native english speaker/writer. If you're saying that I have misconceptions about how ODL works, can you point out where I may have sounded like that ? I hope the next part explains a little better how I understand ODL to work, but if I a missing something, I'd love to know and dig deeper. Yep, I never thought otherwise. I have spent a ton of hours with some success, working through the patents Ripple holds. That was prompted by me reading literally all Bob Way's posts that are still on this forum thankfully. Man, he dumped a knowledge bomb here, unbelievable. The main 2 components of ODL are Ripplenet, which is essentially one giant hyper intelligent tradingbot, and the other part is/are Market makers. Ripplenet does all the moving, buying and selling, administration, atomic (rippled) payments/settlement, prompted by manual/automatic input. Market makers provide liquidity and also do arbitrage. From what I remember, I read/saw @Nicolas (Nicolas Steiger from FlashFX) state as much, either in an interview with @CryptoErior in the interview he gave on this forum that those Market Maker's funtions are also highly automated, incl. the arbitrage. Interview with Nicolas Steiger here: One of the most interesting developments surrounding SBI, next to SBI VCTrade now opening up as a corridor, has been the acquisition of B2C2 imo, which is an experienced Market Maker in the crypto space. https://www.businesswire.com/news/home/20200630006130/en/Financial-Conglomerate-SBI-to-Acquire-30MM-Stake-in-Digital-Asset-Firm-B2C2 SBI actually holds 90% or more of B2C2 atm, according to their last quarterly report, as reported on/translated by @CryptoEri This all seems like more and more integration of all components of ODL. To get back to MGI tx not appearing on utility-scan: I am not sure, but judging from the intervals with which MGI has been sending until now, there seems to be some manual intervention, since the time intervals differ, even though the numbers per day essentially ended up at the same amounts. One thing that has come to mind as an explanation for the current situation is that we know that MGI might at some point want to shift from the bigger payments like they have been doing until now, that are probably still backoffice payments, to actual, live payments. That is when the client does the manual stuff and MGI does not need any hands on anymore. They have probably refrained from doing so until now because if the system somehow fails, in the current situation, the clients are not confronted by those problems if they'd arrise. Adjusting MGI's systems to make this a reality probably takes some doing. I hope that's what is happening in the background, but it could just be maintenance again, some change in Ripplenet/ODL, or not. Any guess is as good as mine Sorry if this post is a little wonky so many ideas bubbling to the surface when thinking all this through, it's hard to write something structurally coherent What are your numbers showing atm ? Would you say MGI has temporarily suspended their sending of payments into MXN ? regards, Frans
  14. Man, this is gonna be interesting ! Yoshi coming through, gonna be following this real close Thanks @mouradski for making it possible to follow this ! This one gave me goosebumps
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