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This answer below makes me very curious The whole thread (ongoing probably):
When it comes to crypto, XRP is the premier choice for future-proofing my investment, especially given the recent announcements by Ripple. In my latest blog entry, I discuss what I believe are the top five reasons to consider making XRP part of your portfolio. Hope you enjoy the read & please leave any feedback below. Feel free to share with any friends and on any other platform, and thank you for doing so! My blog announcements on other media: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/Investing Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
I understand micropayments now. At least, I thnkI understand. What is a Micropayment? The term "micropayments" is usually the term traditionally given to monetization of very samll transactions - under $12 - for content provided over the internet. One example is Blendle, a media startup that lets you pay a few cents for the privilege of reading their news articles online (source: https://www.wired.com/2016/03/pay-25-cents-read-article-blendle-certainly-thinks/ ) So Who Processes These Things Now? PayPal Micropayments is a platform that's been around for a few years, and it builds off of the usage by Ebay vendors for small transactions. The fee structure is built on the concept of giving a vendor the ability to pay the processing fee based MORE on a percentage of the sale price rather than the flat processing fee. Instead of the usual 3.4% + 20 cents, you’ll pay 5% + 5 cents. Basically a higher percentage but lower fixed cost. (source: https://www.thebalance.com/increase-profits-with-paypal-micropayments-1140571 ) XRP Advantage Now compare that to the processing fee of processing a micropayment through the RCL using XRP payment channels. The current fee is listed as 10 drops, or .00001 XRP. If we use a value of 30 cents as an example, that's a transaction cost of $.000003. Now, that's the network fee for using XRP transactions. Any actual service provider of an online wallet may also layer other charges to cover costs associated with processing transactions and providing other services such as returns, insurance, and other items, but you can see clearly that PayPal is about to face some competition in this market. Speed Another issue that micropayments platforms have typically had is the ability to scale for increased usage. Did I mention that XRP Payment channels were fast? The XRP Ledger using payment channels can scale to handle over 50,000 transactions per second. (source: https://ripple.com/files/xrp_overview.pdf ) The first FI to integrate using XRP Payment Channels is going to have a substantial advantage when it comes to mircopayments. Or maybe PayPal might see the light and choose to contact Ripple?
Hey! it seems we have had a lot of newcomers to the forum lately. Nice! Anyway, regardless of the recent re-popularization of XRP, I am opening this thread about a great technical feature for RCL that is expected to be enabled this week. As you can deduct from the title of the thread, I am talking about PayChan. The thing is, unlike the Escrow amendment, which is also expected to be enabled next Thursday and I totally understand, I have some doubts about PayChan. In particular, I would like to know if PayChan not only offers the possibility of off-ledger payments, but also off-line payments. That is, would it be possible to send those "Claim" messages through any other type of network/connection (e.g. Bluetooth, NFC...) outside the Internet to later distribute them to RCL and redeem them? I asked this question on the chatbox some days ago but got no response. Can anyone clarify this doubt? Thanks!
There are a few amendments announced that I'd like to try to get more information on. Has there been any mention of when the network will be voting on the PayChan and/or SusPay amendments? SusPay has been on the TestNet for a while now so I am speculating that feature may become available sooner than the former. I'm quite excited to begin testing payment channels once available, the pertinent information is how transaction fees will be handled. I know that the OwnerPaysFees amendment deals with the Issuer paying for the payment processing of an OfferCreate or Payment transaction. What I really want to know is if that feature's philosophy is going to be extended to the issuer of a payment channel, so that a freshly created Ripple account will have its Claim transaction paid for by the owner of that channel, or if the claimant will have to have enough XRP to process a claim transaction? Last, Tickets... Only mention of this feature is that it is still in development. This new method seems is most likely being worked on for creating more fault tolerance. If there is anything out there that anyone knows about Tickets, please do tell.