Jump to content

WrathofKahneman

Gold Member
  • Content Count

    2,324
  • Joined

  • Last visited

  • Days Won

    4

WrathofKahneman last won the day on February 11

WrathofKahneman had the most liked content!

About WrathofKahneman

  • Rank
    Veteran

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Yes it's curious to me the crypto articles online mention things Ripple said, but I can find no record or press release of what Ripple said. Perhaps a regional officer spoke to the media that English search terms won't quite dig up? Can't find an official PR, curious, but not unheard of. Seems like someone who knows the ropes.
  2. THB may be a glitch, or testing of a sort? There certainly is a lot going on for Ripple in SE Asia right now.
  3. This question assumes they are not already. What leap of faith are you envisioning? They seem to be engaged in all of the highest volume, sticky currency corridors.
  4. I don't know too much of the technicals but i do know that as a stable coin backed by a basket of coins, it is not designed for small money movement so much as large cash transactions for banks. This is part of the importance for the XRPL to eventually support tokenization, as David Schwartz has proposed. But USD does not eliminated the underlying problem that different consortia will not be intrinsically motivated to work with one another, hence their proliferation in the last year. The other issue, and I am parroting Garlinghouse here, is that by being backed by a basket of of currencies, USD is a liability, not an asset and in the long run will add more friction to moving money. He writes briefly on the topic, here: https://www.linkedin.com/pulse/case-against-bankcoin-brad-garlinghouse
  5. This is not a fork. It would be a new network. Why would you create a new network and leave banks like Santander behind? Why would banks, who distrust digital assets in a highly regulated industry follow them to a new network? XRP would be worthless to everyone save Ripple. Why would Ripple forego potentially billions of agreed upon XRP value to hold millions of their own coin no one would use? Stellar is not a fork of Ripple. Both orgs are clear about this. XLM builds upon some core XRP principles in some different ways. Indeed, the question is, "why?" Why would they do it? Why invest all this money in a new network and token that their competitors will never use, nor potentially governments because it is not a neutral, open asset. Presumably every bank in the world could get together and agree to do it together w/o Ripple, but why would they do this if Ripple can deliver an functioning product that uses XRP faster and for less? Again, BofA, SBI, -JPM's competitors will never use JPM's coin and at some point, JPM Coin value will have to cross borders/orgs to other denominations. That is where XRP fits in, in a way no other coin can, save Stellar which cannot because it lacks any liquidity at all, and is used by a company that also implements Ripple. JPM's coin is not, strictly speaking, settlement. It facilitates it in-network only. I recommend this video by David Schwartz to understand the stakes:
  6. No, and not sure what that would look like. Ripple owns XRP, but they do not own the XRPL (which is different from RippleNet) . The XRPL runs by consensus and all the validators on the network would have to allow them to make the changes. Why would they do such a thing? It is possible that they could own a majority of the validators on the network, or at least the UNL, and make whatever changes they want but they risk losing the trust of banks and FI's and forsaking the potential billions of dollars in pocket. To date the push has been to have other non-Ripple validators running as a demonstration of non-Ripple consensus. (To add to the problem of the hypothetical, most of Ripple's business right now does not use XRP; it is payment tracking, so the question mostly pertains to the companies using ODL right now like MGI. One of the barriers to adoption of XRP has been liquidity - there are not enough buy/sell orders on the books to sustain a high volume of XRP transactions. This is why they choose sticky corridors first (instead of, say USD/CAD). If Ripple somehow 1) took possession of the network 2) convinced their partners to continue working with them, they would still have to build liquidity all over again somehow by providing it, I guess.) TL;DR, Ripple has a material interest in the value of XRP and XRP is worthless unless the network can be trusted. ( one last point - the whole codebase is open source. You can download it and do it yourself, even. The issue will be whether or not you can get anyone to trust your network or value your coin. Files & info @ https://xrpl.org )
  7. I don't know - In the various twitter skirmishes, this point about the cost of "quality validators", always online, worthy of the dunl is brought out. You would know better than I. .
  8. I imagine Ripple will always run their own validators to help keep the network robust. While the cost of running a validator is more than most hobbyists can afford, they don't seem very high for a large corporation to run. That this hasn't happened much so far seems to be part of the tension in their twitter exchanges. This, however is good news; the first non-Ripple amendment has been voted on and added.
  9. I wonder to what degree BinanceUS as an ODL partner depends really on acquiring all the state licenses. It seems like it has been a hurdle for other exchanges in the past (especially w/ NY).
  10. You must know that these are the plaintiff's statements that are being highlighted and that in a court case such as this, the Court must assume their truth at first for any motion to dismiss. Only later, if the motion is denied can they be refuted in court and a decision about the merits of the claim be made. This tweet tells us nothing other than standard proceedings. In short, either the case is dismissed or it is not. If it is not, then eventually, after laborious proceedings a judgement will be reached. It's all speculation until one of those 2 things happen. (in parcel or tare). Unfortunately, I couldn't read the whole piece as they are selling it behind a paywall.
  11. Ripple could not explain as it was a BoA patent. A patent attorney I spoke with noted that a continuation had been filed, it is clearly noted on the actual filing, not the Google summary. Eventually it will work its way to the public portal files. They also mentioned it was somewhat de rigueur to file a patent defensively to keep future uses from being claimed by other actors until it is clear how the space will mature.
  12. That graph is really interesting. It seems remarkably linear despite boom/bust/escrow sales, etc.
  13. I hope not, as your posts are informative and very helpful. Perhaps everyone reading the threads can help draw the mods' attention to the trolls. It is tiresome.
  14. Thanks! It's exciting news. If I understand correctly, sharia compliance is determined country by country, though a network effect would certainly incentivize things..
×
×
  • Create New...