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  1. My latest blog entry. I talk about what some new XRP investors may not know... hat any user can issue credit and create their own tokens for a multitude of uses. There's a lot of use cases for issuing IOU's on the RCL; some of these have some awe-inspiring potential in terms of volume and value! https://xrphodor.wordpress.com/2017/06/23/ripple-consensus-ledger-the-credit-network-innovation/ Thanks for reading; feel free to quote, reference, link, share, and leave your comments.
  2. Does anybody know the actual technical steps for issuing an IOU on the RCL? Also as a follow-up, I think there would be a huge market for a tool to easily issue these and manage them as an "overlay" software that integrates with the RCL. Has anybody already thought of this? (or know if it, or has built it?) Thanks for any guidance. - Hodor!
  3. ...is xrp's potential for being used as "reserves." I came across this article that discusses the concept of "forex reserves:" http://www.nbdpress.com/articles/2017-06-08/2632.html Before reading this article, I've heard the concept of xrp "reserves" being purchased by individual companies or market makers as a tool for managing risk and being able to profit from volatility. (source: _https://www.xrpchat.com/topic/5280-valuation-models-xrp-the-digital-currency-vs-ripple-the-company/?do=findComment&comment=50182_) The concept was always part of a larger topic, and I guess I made a mental note and just kind of said to myself "Well, yeah, that would be cool. I wonder if that would happen with a large retailer like Amazon that does international commerce." I left it there in my thinking, like a shiny bauble that might get my attention again at some point in the future. After all, I'm focused on the big fish - the possibility of RCL taking over for SWIFT. And then I read a simple group of words from this article, and realized I'd been missing the power of a concept all these years. Here's the snippet: Did you catch that amount of USD that China uses for the sole purpose of ForEx? 3.05 trillion. The Concept Nation-state federal reserves will usually carry the main unit of currency used to make ForEx transfers. And currently, US Dollars are the de-facto currency used to do those transfers. What is SAFE? (source: https://en.wikipedia.org/wiki/State_Administration_of_Foreign_Exchange) USD is Currently King of Reserves So how do we arrive at how much USD some other countries might just "store?" To do this, we need to compare the relative size of China's economy with other nations, and do the multiplication. Let's do this with a few different countries where Ripple has already established trade pairings: GDP of China: 11,218,281 ---> 3 trillion in reserves Japan: 4,938,644 ---> 1.3 trillion in reserves? UK: 2,629,188 ---> .7 trillion in reserves? India: 2,256,397 ---> .6 trillion in reserves? South Korea: 1,411,246 ---> .37 trillion in reserves? Basically, we can roughly estimate that these combined countries store approximately 6 trillion USD in reserves. Also, consider the fact that I'm not even considering businesses within these countries. Large companies tend to want to keep their own reserves of USD for exchange as well. And these companies can store very large quantities of USD in their corporate treasuries as well. I don't *think* nations would ever store a digital asset issued by a private company as a reserve, or if they did, it would be for boutique purposes most likely. A more likely scenario under the current system would be central reserves creating their own IOU on RCL. However, we can use the concept of "reserve" to understand how very large companies might want to snap up XRP at large quantities. So now, go back to the articles here on XRPChat where JoelKatz was talking about the concept of "reserves," and now three of his points should make more sense: (source: _https://www.xrpchat.com/topic/5280-valuation-models-xrp-the-digital-currency-vs-ripple-the-company/?do=findComment&comment=50182_) This is the way currency "reserves" work now for nations - and for large companies - and it is a very exciting prospect for XRP! What About the Future For World Reserve Currencies? There is a possibility that XRP could play a role in national reserves: In an exciting development, a report by the UN Conference on Trade and Development calls for abandoning the US Dollar s the single reserve currency. It says that the new reserve system should (Source: http://www.reuters.com/article/us-dollar-reserves-un-idUSTRE65S40620100629 ) The report goes even further: IMF Connection to Ripple So now we see the connection to the IMF, and now we can understand much better what Chris Larsen (and Ripple's) role *might* involve with the IMF Advisory Committee. If the SDR's are going to operate using a "basket of currencies", what technology do you think is best for representing that basket using an IMF-backed, redeemable IOU? Seriously? This type of usage couldn't be a better fit for RCL and XRP. Is your crypto portfolio on the right side of history? ###### DISCLAIMERS ###### THIS IS NOT INVESTMENT ADVICE PLEASE DO NOT TRADE CRYPTO WITH LEVERAGE I DO NOT HAVE ANY INSIDE INFORMATION I STILL OWN MTG CARDS
  4. I have been thinking of the concept of offering ripple IOUs through a redeemable prepaid card sold via a mixture of retailers an online sales. For a while, I was thinking of different methods of attempting this use case which had large attack vectors, for example a database full of redemption codes could be compromised. This also does not take into account the security issues on the issuers' end, where as redemption codes could be redeemed before sale among other malicious possibilities. Instead of creating a complicated back end system for redemption, I have settled on a concept of creating paper IOUs for redemption of ripple IOUs by issuing branded cards of various denominations which must be mailed back to the operator for destruction after processing a Ripple payment. The prerequisites would be a set of instructions for filling out a form, some marketing information, logo of the Gateway, an a pamper proof seal in each card which unfolds when broken to reveal the form. The recipient would include their ripple address (or the address of the recipient), the full name, address, phone number, and email address which the operator must confirm the identity of before processing payments in accordance to some jurisdiction's financial regulations. Depending on the printing costs of a logo, some instructions, marketing information, a small form, an small folding cards glued in place with a tamper-proof seal, I do believe that Gateways have the ability to enter into a niche portion of the prepaid solutions industry an have the potential to boost growth greatly if successfully partnered with a distributor to market their prepaid deposit method(s).
  5. Hi, This question is all for those who missed the boat getting into bitcoin when bitcoin was priced way below 1 cent back in 2009. The question is: "How did YOU handled the news of Bitcoin's existence when you first heard about Bitcoin on national News when it was priced at $1,100 back in 2013". Me personally, initially it didn't do nothing to me, I saw it as another "gold" well a digital "gold" that was probably worthy to getting into and investing in it in anticipation of it rising to much higher than $10,000 per BTC or higher, and yes it would have reached that high only if it was not for the Mt. Gox hack. but I did not invest in it, THANKFULLY, lots of people lost serious money buying bitcoin at $1,100 but my Uncle who is a professional Forex trader did lost a considerable amount of dollars after he bought in at $950 in a successive limit order, he saw that it had potential of reaching much higher. Today he has since recovered every bit of the dollars he had lost in Bitcoin, but NOT with bitcoin, but FOREX trading. He is still holding the very same bitcoins that he has purchased and he has not touched them according to what he has told me. It was only after I was googling about bitcoin after hearing it on national news that it hit me, the realization of how easy it was for ME to get bitcoins back in 2009 and how hard it was to get the very same bitcoins in 2013 with the same mining software you could have used back in 2009. Yes, I did got sad, but did not got depressed, I put Bitcoin in my back burner and just forgot about it knowing there was not much I could have done in 2013 anymore save for actually buying bitcoins which I did NOT (and that decision proved to be wise much later on in February of 2014 when Mt. Gox got hacked, and again with Bitstamp got partially Hacked). My cousin, now that was a totally different scenario, he got very depressed, sad, lost his motivation, started sleeping the whole day and waking up very late, frequent crying, and a self realization that he probably lost the only chance he had at becoming a millionaire or a billionaire in a technological area that he enjoyed given him being a computer tech and a great deal of time he spent using a computer in any given day, the realization of all the time he spent on forums, searching online how to make extra money, googling, etc and not even a hint of Bitcoin really got to him, (a billionaire??!! well maybe, perhaps leaving a dedicated computer cpu mining 24/7 all year long and in perpetuity and undisturbed back in 2009, like whose gonna have done that, for that you would have to have had a great faith that Bitcoin was going to be valued 100,000%+ of its value at a time a Bitcoin was only valued much less than perhaps $0.0035?), well thankfully today he is a very happy person and is back at being productive again., hopefully he will become a millionaire one day, but its now going to happen with Bitcoin, perhaps opening up his own franchise, expanding his business, or something of that nature. Now, let us hear YOUR story. --- Please consider donating XRP's to my wallet. I also accept any assets such as USD, BTC, any IOU'rKMCBRBk5weo8mMbibfk4PnGSYAdq2TEdt Thank you for your donations. Your donations is highly appreciated and will be used to foster many of my own internal and external projects and experiments.