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  1. Do they collect a fee for doing so and if so, how is the fee set?
  2. Okay guys, I just had a thought, and it wasn't pretty. Every transaction that we have completed on the exchange, given they are regulatory compliant, is reported to the government: the amount you spent and how much XRP you got in return. The government isn't exactly up to date on operating systems and protections for their computers. What happens when a bad-guy happens to get access to that information through some hole in the GOVT's defenses, finds your information, gets your address and cases you? Have you heard of the $5 wrench attack? Someone who knows that you have X amount of XRP can take that information, case your house or where you work, abduct you and beat you with a wrench until you tell them the information they want. You have your XRP stored on something like the Ledger Nano S, and you have it set up with your PIN, and hopefully a passphrase. Ledger has added the capability to use a Passphrase or "Duress Pin" to create a hidden wallet with some spare change in it. This passphrase is given to the attacker in order to let them have access to the hidden wallet (what we would see as a security/sacrificial wallet) that has very little XRP in it. Hopefully they don't beat you further in an attempt to get you to reveal more. My point: through regulatory compliance, our personal information regarding our investments is pretty much in a very worrisome predicament, where the GOVT forces you to disclose this information and could potentially be readily available to a substantially sophisticated attack on the database that stores this information. How do we protect ourselves from this scenario? I really wish there was a way to make these things private, without it being disclosed on our taxes! If the govt knows what you have, and you just pay your fair share of taxes, nobody else should even know what you have. Especially when it comes to something as potentially explosive as XRP. What are your thoughts?
  3. Our community boasts a wide variety of skilled people. While we are waiting for Miguel & Co., perhaps, someone would be interested in making a report of our own? If you are interested: What points would you like the report to cover? What should the report have most - stats/chart, time-line of press releases vs price fluctuations, etc? Will you be interested to take part in writing it or just reading? Thought to post it in off-topic, but it's not exactly off-topic.
  4. Does anyone have statistics on the number of connectors/market makers or know where I can find this information? Would also be interested in seeing the biggest ones in terms of volume. I recently read up about the interledger protocol and it seems like connectors play a very significant role in the system, so I'm curious to see how big the field of connectors is.
  5. thought this is pretty interesting, not sure if it had been posted before but we got the BBVA train rolling on RCL and looks like they loving the ride.
  6. Amazon launched a new product -Amazon Cash- aimed at "helping" the unbanked. It seems really lame and disingenuous so I wrote them a blog post telling them how to make it better. https://medium.com/@haydentiff/psss-amazon-49509f04e820
  7. 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.
  8. 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!
  9. rialto.ai this one seems interesting, they seem to be aiming for becoming a large liquidity provider / market maker on RCL, their "token" seems to be yielding dividend.. one to watch imo
  10. "Nostro Accounts." It's one of those words I heard thrown around by ForEx traders on the forum when they were talking about Ripple. I remember my eyes kind of glazing over and thinking "Okay, blah blah, Ripple will save them some money there..." That was good enough for my thinking at the time, but since then I've done some further reading, and with recent banking adoption taking center stage, I thought I'd review it again. In addition, Ripple has specifically indicated that they are targeting nostro accounts (source: https://ripple.com/files/xrp_cost_model_paper.pdf) I was surprised by how simple the concept is, really, and it makes perfect and logical sense. Not all banks will want to do business in France, for example. Some just do business in ... lets say, the United States. An Example You Can Understand Bank "US" is a U.S. Bank based only in the US Bank "FR" is a French Bank based in only France A "nostro" account means that the US Bank opens an account with FR like they are a customer. Banks can do this. Then the US Bank buys up a bunch of Euros and puts them into that account (in their account with the French bank). They're doing this in anticipation of having to make payments in Euros out of their account at the French bank. (source: http://www.investopedia.com/terms/n/nostroaccount.asp?lgl=myfinance-layout-no-ads) Are you with me so far? That's it.... that's a nostro account. How It Works: A Simple ForEx Transaction So here's how a transaction works at it's most basic level: Let's say you are planning on working in France for six months. You go to your bank here in the US, and tell them, "Hi, I'd like to transfer $25,000 worth of Euros to an account I just opened at a French bank. But I don't have any Euros - I just have dollars here in the U.S." Your bank will then take your money, deduct it from their account having USD here in the US, and then do another entry in their account at the French bank, crediting it with the spot rate equivalent of Euros for $25,000. The number of Euros you get is known at the time of transfer. But they've got to charge you some fees associated with that transfer. Sure it's convenient for you, but remember, they had to open an account, and then buy a bunch of Euros. They have to hold Euros in this "nostro" account. Basically the lesson is this: for each country that a bank or institution wants to do a lot of business with, they should "hold" a lot of that country's currency on the other side of the border, so that they can do transactions most quickly and efficiently. Now you can see why financial institutions didn't like the idea of a "Brexit". Now the Euro will not cover the largest European country (by GDP), and they will have to buy up British Pounds at some point. That's the good thing about a Euro - it acts like XRP does, standardizing the transaction to many different countries. (source: https://en.wikipedia.org/wiki/Nostro_and_vostro_accounts) What Does This Have To Do With XRP? XRP takes the place of nostro account holdings. If banks in fifteen different countries use XRP as the "bridge" asset, then those banks no longer have to hold the fiat money of those other countries. They just have to hold XRP. Are you starting to see the magic? XRP could save banks up to 42%, even with XRP at HIGH volatility. (source: page 9 of https://ripple.com/files/xrp_cost_model_paper.pdf) There is nothing stopping XRP, and that's why banks are signing up at an increasing rate!
  11. XRP has long been known within crypto-currency as the "banking coin", and rightfully so. When all other alt coins were shunning the thought of working with banking and financial institutions, Ripple was busy determining exactly what would be a good fit for this industry. The result, when compared with the other two *current* crypto leaders, is stark: (source: @thunderw in blog: https://files.acrobat.com/a/preview/746e9c4d-b240-4ea5-95f0-9237f2cceb13 ) Banks, known for their incredible distaste for taking unnecessary risk, took a wait-and-see attitude, only recently signing onto the Ripple stack after the RCL has been successfully up and running, validating transactions with no issue for over five years now. It's time has come, and banks are now eager to flock to the one choice that can guarantee liquidity and reduce their transaction costs by up to 42 % using XRP, even assuming initially high volatility for XRP price. (source: https://ripple.com/files/xrp_cost_model_paper.pdf ) Just How Many Banks Are Now In The Consortium? The initial number was staggering in its own right. No less than 47 banks comprised the consortium that would use the "RC Cloud", which is Ripple's banking payments platform. These banks were primarily based in Japan; the RC Cloud: (source: http://www.cnbc.com/2017/03/01/japanese-banks-plan-to-adopt-blockchain-for-payments.html ) Not only that, but at the launch, it was indicating that Ripple's stack could handle domestic payments as well, which is no surprise for a network that can scale to tens of thousands of transactions per second (TPS) using its payment channel functionality (source: https://www.cryptocoinsnews.com/ripple-claims-transaction-thoroughput-now/) And Now Ten More In the Last Six Weeks 47 banks is a massive inroad for Ripple into the market, but it hasn't stopped there. 10 more banks signed onto the global network. These banks and financial institutions are more diverse, and expand the network's reach to include potential new markets: (source: http://www.the-blockchain.com/2017/04/28/ten-banks-join-ripples-global-payments-network/) If you're wondering if Ripple is making fast progress with bank adoption, the answer is in the news....!
  12. ...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
  13. For newbies, "Forex" stands for "foreign exchange." It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world. Pair Up Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: 1 USD is worth X CAD, or CHF, or JPY, etc.. Liquidity is Important On a global basis, to support a massive amount of foreign exchange trading of curreny, the exchanges can process very large volumes against set rates within a range. Liquidity in the exchanges helps support these large volume transfers of currency back and forth. The RCL is no different: it needs liquidity in specific currency pairs to support forex trading of those currencies. Large volumes is the goal. Do We Contribute to Forex and XRP Liquidity? Absolutely. Traders of currency pairs form the core of Forex liquidity. The Triennial Central Bank Survey includes the trading activity for currency pairs by dealers and institutions - institutions that would be considered equivalent to today's Gatehub or Poloniex. How Big is Forex? According to the Bank for International Settlements, the preliminary global results from the 2016 Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets Activity show that trading in foreign exchange markets averaged $5.1 trillion per day in April 2016. Did you catch that? 5.1 TRILLION PER DAY. Leading from the Front The RCL enables Forex traders to use XRP as a bridge currency with no counter-party risk, and it also will work with ILP, enabling other bank ledgers to connect directly. This ability for the RCL to use ILP to connect with any other ledger using ILP was a huge sea change in the use cases for RCL. Ripple is at the threshold of establishing the RCL as one of the most valuable Forex back-end network tools for connecting foreign currency trades, and if even a small piece of that gargantuan pie is traded on RCL, it will start to create a ripple effect as more and more trading is completed in under 5 seconds across borders. Using a crypto-currency digital asset for this purpose promises new opportunities for Forex trading, it's derivatives, and opens potentially new markets within Forex. Do you own XRP? You really should, because Ripple is just getting started. https://en.wikipedia.org/wiki/Foreign_exchange_market http://www.bis.org/publ/rpfx13fx.pdf http://www.babypips.com/school/preschool/what-is-forex/market-size-and-liquidity.html
  14. For a long time now, XRP fans have been struggling with the fact that XRP is not the top of the list. Despite being clearly better in every measurable metric for a crypto-currency, XRP is ranked either second or third on the list in terms of market capitalization. We've dealt with this underdog status with a combination of humor and frustration. And for more than a short time, Ripple had to precisely execute their business plan like a model Silicon valley start-up, not one of those fly-by-night ICOs that we hear so much about now-a-days. One of my favorite quotes from Miguel Vias is that Ripple "doesn't have any gold toilets." He was talking about these same ICOs that are pulling in so much money from inept investors. (source: __https://www.youtube.com/watch?v=aiNDDWZs0b4__) No, Ripple was different, and much more self-disciplined - almost Spartan? They operated lean, carefully choosing where and when to place their resources and their efforts, not afraid to change course when it meant getting results in a specific area. This is the mark of a well-led company, that can navigate through completely uncharted waters in a landscape filled with danger. They were short on cash... always? I'm just guessing, but 2013 and 2014 must not have been easy for Chris Larsen and company. They endured, however... they persisted... and now here we are! 2017: The Underdog Takes the Stage Ripple has continued to impress the market and even their staunchest critics over at bitcoinland with their continued critical wins in every category that matters. The Inter-ledger protocol (ILP), The Ripple Consensus Ledger (RCL), and the digital asset / cryptocurrency (XRP) have proven to be a very formidable combination that no other grouping of technology can beat. (source: https://ripple.com/xrp/) Ripple has made it possible for businesses, financial institutions, banks, central banks, and governmental authorities to participate in the distributed ledger technology revolution, and most importantly, has made it easy for them to do so. The Wonderful Flip Side of Supply Much has been made of the XRP lockup. (source: http://www.coindesk.com/ripple-pledges-lock-14-billion-xrp-cryptocurrency/ ) It will shut off the supply of XRP to minimum levels for years to come, giving the markets a mathematical certainty abut supply. Not only that, but it will use and demonstrate the Escrow functionality within the RCL; escrow is a huge selling point for financial institutions. The XRPChat community debates about the supply of xrp, but we seldom give though to the flip side: just how much cash has Ripple received in 2017 for its off-the-books sale of xrp to financial institutions and market makers? Some of us believe they've sold at a discount. Others of us believe that it must have been sold at a premium. Regardless, the inevitable conclusion is that Ripple (the company) now has enough cash to go in almost any direction they want. This is an epic sea-change. No longer do they have to play underdog to crypto-currencies whose only goal is to make a few founding members wealthy. It's become readily apparent to the larger financial community that Ripple is about payments, and about transforming global payments into a system of three-second transfers, even between fiat currencies and crypto-currencies. It is flexible, fast, and transformative in nature, and it's being adopted worldwide at an alarming pace. Ripple and its technology stack is now an unstoppable force; what will the new headlines say today?
  15. When I say "great building" I'm not talking about Ripple's new office space, which probably deserves it's own op-ed article. (source: _https://www.xrpchat.com/topic/5802-changing-of-the-guard-ripples-new-hq/_) This post is about the next phase of Ripple's strategy, and it involves getting new creations and innovations developed based on ILP, and potentially with the RCL and XRP. Ripple has executed their own business plan flawlessly to this point, and now that liquidity is gaining momentum, they can focus on the core of what they do with unmatched excellence. Coding Yes, it's not just "coding." I know there are architects, distributed network engineers, developers, coders, and in the case of Ripple, cryptographers as well in the mix. The company is composed of many of these individuals; it's been rumored that Ripple is composed of 65 % technical staff, which would put this number at well over 100. (source: _https://www.xrpchat.com/topic/978-any-ripple-developers-based-in-spain/?page=2_ ) So what are they Building? Ahh, the question of the moment! The RCL is "done," for the most part, right? Payment Channels is now released into the wild. The consensus algorithm has been around and tested for roughly five years or more now. So that begs the question... what indeed are Ripple developers working on? I do NOT want the company to reveal it, but it's interesting for us to speculate the magic that these top-tier industry leaders are putting together in their new open spaces in the downtown of San Francisco. Personally, I'm hoping for an AI add-on like they've alluded to in recent news articles. (source: http://bankinnovation.net/2017/04/ripples-focus-on-innovation-is-a-clear-win-for-banks/) Or perhaps it's something that might run distributed applications? (That one is just pure speculation on my part!) It is interesting to think about what the best 100+ developers could do in a short time; we know that they are developing integration plugins for other businesses and individuals to build on, to quickly expand the footprint of RCL's use cases and XRP's utility. ...and we know they can put together some killer demos with these plugins! (source: http://www.coindesk.com/interoperability-boost-ripple-sends-blockchain-transaction-across-7-different-ledgers/) So we know Ripple has top-tier crypto talent, but what about other talented developers in the world community at large, and business partners of Ripple in specific? Business Partners Ripple recently partnered with BitGo to develop enterprise wallet solutions for financial institutions and integration plugins for Ripple business partners. We can see the fruits of that labor with six exchanges being opened in less than two weeks during May. There is no other crypto-currency that can boast that integration speed. (source: http://www.econotimes.com/Ripple-expands-partnership-with-BitGo-to-list-XRP-on-six-new-exchanges-712488 ) Open-Source Development Since the beginning, Ripple has always made their code open-source, from the Rippled code itself, to the code underlying the components that they've created. This approach is an industry-standard, and Ripple was intelligent enough from the beginning to realize that this openness would make them stronger, not weaker. They recently have started to participate in events to bring the spotlight onto their open-source components, and conducted demonstrations of their new plugins. As an example, Ripple recently participated in a hack-a-thon to encourage others to develop using the inter-ledger protocol (ILP) Source: Demand for Developers The overall demand for developers who know Ripple technology is increasing, and there are now technology consulting companies that are performing integrations for banks without Ripple's direct involvement. (source: https://ripple.com/network/system-integrators/) We're at a new stage of Ripple's strategy. For somebody that has watched the adoption of this transformational technology since it's rise to prominence in the crypto space, this moment is sweet indeed. I can't wait to see what's next!
  16. It's like an itch in the back of their minds, a growing anxiety that no amount of alcohol can eliminate. The new consensus among whale crypto traders is that XRP is taking over. So how do they react? They're raking in quick profits from the ICOs *if they're lucky*, and perhaps putting their money into ETH and BTC to take advantage of the temporary run-ups. But they know better. The logical part of their mind is screaming at them to wake up and smell the coffee, and investigate just how much adoption Ripple is making with the banks. Sometimes they pop into our forum and ask that very question, hoping that somebody, anybody, can provide them inside information about when to make their big switch from their risky portfolio back to the safe bet... to the one that they know will inevitably take over crypto. Adoption of XRP It's happening now - here are the raw numbers: 15 of the top 50 banks worldwide are working with Ripple 9 different countries with banks are implementing Ripple... in production 87% of all FX pairs are now potentially covered by XRP (source: https://www.ripple.com/) In addition to the above current statistics, Ryan Zagone was just recently quoted as saying that 16 more countries will be using the RCL. (source: _https://youtu.be/PzScsRNsoT0 at 39:15) We know unequivocally that Ripple Desires a High XRP Price. They try to understate it, but a high XRP price benefits the company in a myriad of ways, including low cost of FX transfers, and the increased value of their treasury's main digital asset. (sources: _https://www.xrpchat.com/topic/5565-joelkatz-a-question-if-you-have-time/#comment-52750 and _https://www.xrpchat.com/topic/5280-valuation-models-xrp-the-digital-currency-vs-ripple-the-company/?do=findComment&comment=50484) Lessons of History Old, legacy technology such as Bitcoin doesn't have much of a bright future if history is any guide. And we know from many social scientists that history should be our guide; it's lessons repeat if they are not recognized, and bitcoin is on its way to becoming an academic case study in that concept. For now, look to Kodak, AOL, or the Yahoo search engine. These companies once had enormous market share and valuation, but mainly due to superior technological rivals and options, they no longer exist - at least in their previous form. They might have redefined themselves and found a niche market, but their heydays are long gone. Now it is digital cameras mounted directly on smart phones, direct ISP providers, or Google. So How Fast Will XRP Take Over? What makes Ripple's case so unique is that the difference in options is so stark. Never has history offered an opportunity so well-defined for potential investors. We are still early in the adoption life cycle. Because of our early position in the innovation life cycle, the chance to own significant chunks of Ripple's digital asset at very low prices are lying here for us to take... even before the advent of the most popular XRP wallets hit the "streets" soon. BitGo Wallet (source: _https://twitter.com/lopp/status/864560414293721089?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fwww.xrpchat.com%2Findex.php%3Fapp%3Dcore%26module%3Dsystem%26controller%3Dembed%26url%3Dhttps%3A%2F%2Ftwitter.com%2Flopp%2Fstatus%2F864560414293721089) JoelKatz Wallet? (source: https://www.xrpchat.com/topic/5067-david-schwartz-joelkatz-working-with-third-party-on-high-quality-wallet-and-other-xrp-related-projects/ ) Coinket Distributed Trading Wallet (source: http://www.livebitcoinnews.com/new-peer-peer-xrp-marketplace-will-launch-two-weeks/ ) We're still "early" in the market, but beware how fast the markets can shift.. you've seen XRP price rise more than 40% in one day ... less than one week ago. When the industry turns it's attention to XRP, there will be no turning back, and the opportunities to buy XRP at current prices will be part of... history! DISCLAIMERS THIS IS NOT INVESTING ADVICE PLEASE DO YOUR OWN RESEARCH BEFORE INVESTING I DO NOT HAVE ANY INSIDE INFORMATION PLEASE DO NOT TRADE CRYPTO WITH LEVERAGE
  17. Updated Numbers by Ripple Ryan Zagone's Comments: This comment was first noted by @Dsimmo on another post: It's happening folks. It's happening now...
  18. In "The Big Short", Christian Bale plays a near-autistic eccentric trader who bucked the trends of the prevailing market sentiment. Only a minority of traders in the housing bubble were astute enough to recognize a unique opportunity in the midst of a developing crisis, and they placed their bets accordingly. Along the way, they had to "keep the faith" in the face of jeers from their own investors. When they faced their biggest moments of self-doubt, how did they respond? They doubled down. They increased their position - not from a standpoint of ego - but because they believed in the lessons of history and the accuracy of their mathematical analysis. XRP Chat Does this remind you of our forum? We debate the numbers constantly. We discuss use cases. We calculate the utility of our preferred cryptocurrency, XRP, not in the millions or even billions, but in the trillions and quadrillions of possible fiat flow through the network. Our group differs from other crypto-coin fan bases, in that our product is based on sound value and science, and will unquestioningly lead to banks and financial institutions saving massive amounts of money, all while providing instantaneous payments for customers, where those same transfers used to take days. We calculate the odds and future together, arguing with our viewpoints, observations, and logic, and often with our egos on full display. The Big Short was based on real life, because often history is stranger than fiction. Brad Pitt, Steve Carell, Ryan Gosling, and Christian Bale breathed life into the movie, and portrayed how intense the story became for the big trading houses. Ripple's rise is even more striking; the new innovator contrasting with the prevailing thinking that Bitcoin cannot be unseated from the throne. Our Story Yes, there is much drama in crypto, and cryptocurrency investors are still very much a minority; If you think about what's happened with Ripple, it is something where we look at each other and say "we couldn't make this stuff up!" Think about what's happened since 2013, and tell me if this doesn't have the makings for a Hollywood movie: A Silicon Valley Start-Up Crypto-currency Hatred and Lies from Competitors A Wealthy Heir Angel Investor (source: http://pagesix.com/2017/06/04/matthew-mellons-ripple-investment-is-paying-off/ ) A Feud and Lawsuit Against a Company Founder (source: http://www.coindesk.com/ripple-jed-mccaleb-settle-suit-over-1-million-in-disputed-funds/) And now... the shining moments that have arrived in 2017. RCL is updated to support ILP (source: http://www.econotimes.com/Ripple-announces-new-features-bringing-transaction-throughput-to-Visa-levels-622104) 47 banks form a consortium to use the RCL and Ripple Technology (source: http://www.cnbc.com/2017/03/01/japanese-banks-plan-to-adopt-blockchain-for-payments.html ) 15 new exchanges directly trade XRP against other currencies in the space of 6 weeks (source: https://webcache.googleusercontent.com/search?q=cache:9MNVeFv7QywJ https://coinreport.net/xrp-listed-six-exchanges/+&cd=2&hl=it&ct=clnk&gl=it https://cointelegraph.com/press-releases/blockchain-exchange-bitsane-introduces-ripple-trading-at-consensus-2017 https://ripple.com/insights/news/xrp-liquidity-to-deepen-with-listings-on-six-new-exchanges/) Central Banks BOE trials ILP with Ripple (source: http://www.bankingtech.com/775302/bank-of-england-teams-with-ripple-for-cross-border-payments/) Ripple Gets a Seat on the IMF Advisory Board (source: http://www.imf.org/en/News/Articles/2017/03/15/pr1784-imf-managing-director-welcomes-establishment-of-high-level-advisory-group-on-fintech) The price of XRP climbs to new heights (source: http://www.cnbc.com/2017/05/26/bitcoin-rival-ripple-is-sitting-on-many-billions-of-dollars-of-xrp.html) Liquidity Pouring into the Ecosystem at increasing rates (https://xrpcharts.ripple.com/#/history) Fortify your knowledge and believe in your investment; you'll be able buy some popcorn and say "Yes! I was there when this went down!" Even now in 2017, only a small number of people have the patience to learn how to overcome the barriers to entry and invest at the stage of early adoption in the innovation life cycle. And yet still here we are, investing early. And believe me, it's still early... And now there's nothing holding XRP back from ascending to it's deserved spot at #1. Just keep in mind that when XRP takes #1, it might happen much faster than you anticipated. Make sure you have your positions ready! ############################################################ DISCLAIMERS: THIS IS NOT INVESTING ADVICE ALWAYS TO YOUR OWN RESEARCH AND VERIFY FACTS I AM NOT A PROFESSIONAL FINANCIAL ANALYST OF ANY KIND DO NOT TRADE ANY CRYPTO WITH LEVERAGE I AM BAD AT MAKING PREDICTIONS ############################################################
  19. So during this uptrend, while happy for all the price appreciation, it also put RCL to test. We have noticed slags, transaction timeouts, failures and much more. I am sure many here can vet it. not too bad though., for example when i was trying to send payments, it would fail 2 times and third time it would go through. However, i feel the network definitely needs scaling. Infact decentralization IS and Should be a big deal. A big news in the alt community. Hence, i recommend ripple comes with a 'grand' decentralization plan ( Like getting 100 universities ready to hold validators and then announcing time and date when all of those 100 join the UNL and so on ) This would achieve many things. 1.) Would remediation the thoughts and complain of large community participants that it is not truly decentralized. 2.) Decentralize without risk, as every validator is run by a responsible university and following recommendations by ripple. 3.) and offcourse improve network. Just my 2 cents ( now that ripple is past 10 cents :-) ) between note that this is a very nice way to do things that bitcoin failed at. everyone knows china-mining , market cornering etc... If We announce RCL decentralization in a big way, co-ordinate and make it happen with validators in major universities, institutes, law offices, companies 'and' others.. and make sure this is published properly, it would put ripple right on top with decentralization claims and solidity the standard. Ripple also shoudl by all means make ti a big deal. this is "Responsible" Decentralization - unlike bitcoin and others... Kindly, R8 ( PS : @miguel @Tim @JoelKatz @warpaul @nikb) - Hope u guys get to see this and take inputs back. Thanks in advance.
  20. from https://xrpcharts.ripple.com/#/topology I can see there are nodes still running on 0.28 (now 0.60.x) I was wondering if there's any plan/roadmap for node upgrades without requiring a hardfork e.g tezos project technically I am not sure what is it call but it's something like chromebook where it automatically upgrades to "eliminate" backward imcompatibility I know ripple is a company unlike other open source project but i'm just curious as I have "skin in the game"
  21. It takes time to get the message out. Ripple has had a superior product and revolutionary idea for some time now, and it's taken hard work, patience, and laser focus for them to get to this point. Each of the key components is now in place, and with the advent of XRP's rising popularity, the remaining puzzle piece of liquidity is now falling into place. We stand on the precipice of a new world now, one in which we all have a chance to participate by purchasing and owning part of the dream... at prices that are considered an early part of the new technology adoption life cycle. (source: https://en.wikipedia.org/wiki/Diffusion_of_innovations and https://teddykw2.files.wordpress.com/2012/07/everett-m-rogers-diffusion-of-innovations.pdf) What is Diffusion of Innovation? Diffusion of Innovation is a sociological and pyschological theory of how new ideas are eventually adopted by a group, given certain conditions. Even if an idea is revolutionary, it still takes considerable time and effort to overcome the resistance to change. This process is best visualized by an "adoption curve": (Source: Hodor) XRP's adoption curve is now at beginning stage of the "Early Adopters" point, where we're starting to see the majority of acceptance by the greater crypto space, but we still have some significant room to go in this category! Bitcoin is at the beginning of the "Early Majority" category! This is exciting for us, as it charts a course to what we can expect to see for XRP. Here's the definitions for anybody that's interested in delving deeper: Innovators Early adopters Early Majority (source: http://www.ou.edu/deptcomm/dodjcc/groups/99A2/theories.htm ) Next Adoption Stage: The XRP Adoption Strategy Recently, JoelKatz posted about the overall strategy for XRP, and I think it ran the risk of being "buried" in another post, so I've copied the numbered points from his post and placed them below for readers that missed it (or almost missed it, like me!). I'm giving the content the title of "XRP Adoption Strategy", as I believe that's what it reflects. It reveals the details behind the company's thinking for those so inclined to be curious. (source: JoelKatz's post from: _https://www.xrpchat.com/topic/5280-valuation-models-xrp-the-digital-currency-vs-ripple-the-company/#comment-50182_) Just remember where we're heading The best network. (RCL) The best digital asset (XRP) The best protocol (ILP) The best company (Ripple)
  22. "But XRP works with Banks, not against them!" I lost track of how many times I heard this siren cry from the bitcoinist hoards on bitcointalk back in 2013. Of course, all it did was convince me to be more sure of my XRP investment rather than doubtful. But you'd have to know something about my personal investing history in crypto up to that point. I was not a newbie by then; I'd been burned twice. And both times I learned very key, very painful, investment lessons when it came to crypto-currencies: 1) Never sell on a downturn. 2) A crypto investment with solid use cases always comes back stronger than it was before My Personal Experience I had learned this lesson from initially investing in Peercoin, then losing faith in it before it broke 15 cents. It soon went to $3 and is now listed for $1.60. That would have been roughly a 2,000% return for me if I would have just shown a little fortitude. Remember this was 2013 - the wild west of crypto was just being born at that point. I then said "no more alt coins" and invested back in bitcoin. It was approaching ~ $120 at this time. I remember thinking, "I don't think it can go much higher than this, but I guess I can trade it on a day-trade or swing-trade basis and see if I can make some money." My success was limited. I made some money, I lost some money. And then came XRP The bitcoin purests on bitcointalk were vicious to the new company, "Ripple Labs." They saw XRP as a complete replacement for Bitcoin, and a competitor that could beat Bitcoin in every way. In addition - probably this is was the worst point for some of them - it could work with the existing banking and ForEx infrastructure, not against it. They saw a threat to their profitable BTC holdings, and they attacked Ripple Labs and XRP mercilessly, spreading lies and FUD at a scale that was truly remarkable. So Why Were Bitcoinists So Afraid? Because math. That's the short version, but I know you're here to dig a bit. Basically, banks can use XRP to lower their ForEx transfer and settlement costs. How much those costs can be lessened depends on several factors. (source: https://ripple.com/insights/ripple-can-help-banks-evaluate-their-cross-border-payment-costs/) One of the services that Ripple provides is to work with a bank to analyze their costs and show them how using XRP can lower their transaction costs: In addition to lowering the transaction costs, enabling and integrating with the RCL allows banks and financial institutions to move into new markets if they so choose, as well: (Source: https://ripple.com/files/xrp_cost_model_paper.pdf ) So How Big is Banking and Forex? Yeah, super-big. If you're a newbie, here are those numbers: Current volume with SWIFT: According to this document (source: https://www.fincen.gov/sites/default/files/shared/Appendix_D.pdf ) from the US Treasury, SWIFT handles about $5 trillion per day, or given about 250 business days per year, about $1.25 quadrillion dollars a year. Conservatively, let's say Ripple manages to convince only 1 percent of those banks to use RCL. Remember, this is ONLY ONE use case for XRP, and we're estimating that they only get 1 percent of SWIFT's share. Here's the result: .01 X 1,250,000,000,000,000 X .01 = $12.5 trillion dollars worth of transactions per year! So Banks Would Only Use XRP For ForEx? As big as ForEx will be for XRP, that's not even close to all of it's use cases. For example, it can support confidential, anonymous transactions. source: Ripple has pointed out other high-frequency areas where integrations with RCL and XRP can benefit Financial Institutions: (source: https://ripple.com/files/xrp_cost_model_paper.pdf ) When somebody asks you which crypto-currency is the right choice for Banks and Investment Bankers ... well, you know the answer now! XRP
  23. A lot of the new ICOs that are happening are being used to debut a coin that has some very specific purposes, and usually there is a necessity for funding the small group of developers that create a new coin. These groups are usually located in one country. It's tempting as a developer or original entrepreneur to just have one team, locally sourced, that will remain in it's current geographic location. The result is a coin that targets a market that seems to mirror the coin's creators. Do they really have a goal of establishing the coin for serving people in all corners of the world, or is really a method of lining their own wallets with easy money? Bitcoin was a novelty item at the beginning of its existence, and because of its mainly academic origins, those were the people that originally owned the coin in its infancy - collegiate academics that experimented with the new digital creation of Satoshi Nakamoto. It's access quickly expanded to support exchange of *goods* over the dark web in a fashion that originally deterred traditional law enforcement. In theory, it had no borders to its appeal or reach, and its proponents ignored its darker side and focused instead on the potential of blockchain technology to transform the concept of currency without regard to borders or fiat government. Bitcion does indeed have international reach. Exchanges exist in all corners of the planet to support its immense demand created by popularity in the media. Most of the alt coins sought to emulate Bitcoin by establishing a foundation that would promote the coin and provide an easy-to-use wallet for new users. Sometimes the foundation would be based in a foreign country with lenient rules regarding financial technology and securities trading. Then XRP Happened The development team decided that they would go in a different direction than the original. They would eschew the blockchain consensus algorithms for something new, something more efficient and robust, something that didn't depend on mining to provide security to the network. they didn't stop there. They also went in a different direction for Governance. Instead of a foundation, they would promote strong governance by forming a company, so that decisions and improvements to the protocol could be made quickly as needed. We are now at Rippled version 70 compared to Bitcoin version 14. (source: https://xrpcharts.ripple.com/#/topology | https://github.com/ripple/rippled) The original team knew the potential of what they'd created. To work as they envisioned, it needed to spread to all countries and be available in all worldwide markets. Each member of the team knew that the road would be paved with difficulties, and nobody would just hand them the keys to transform an industry mired in inertia motivated by greed. Did they knew then the lengths that SWIFT would go to try to protect the status quo? It was a system where their member banks could continue to make money while they held onto people's money as it "floated" from bank to bank in a process that still takes days to transfer currency from country to country. It would not be an easy path for the company to navigate, using very limited amounts of initial capital. International Reach Ripple went through years of transformation, carefully taking aim at strategic locations throughout the world, locating personnel, offices, and alliances across borders. Chris Larsen was fearless in forging alliances in Asia and Europe almost immediately. They opened an office in London. Then Australia. Now India is in the works. In addition to brick-and-mortar offices, Ripple is augmenting their value-pair reach and liquidity by supporting integration with new exchanges. In less than two weeks, they were able to add six exchanges to their network, adding liquidity to the markets that are being targeted for value-saving Forex settlement. Ripple is deliberately and methodically building what will unavoidably be the replacement for antiquated modes of value exchange between currencies. Six new exchanges worldwide in less than two weeks... No other crypto-currency foundation has matched their ability to move at speed to establish a presence worldwide, and they are building a different kind of consensus now, a consensus that they are the inevitable future of international banking. Weather any crypto storm knowing that your money is on the right bet!
  24. Okay, so we see that SBI made a significant contribution to obtain large stakes in the R3 consortium. We also see that SBI has partnered with Ripple, and that SBI intends to create their own SBI coin. How will this play out for Ripple, as well as investors in XRP? Will we be able to also invest in SBI coin? Any input from knowledgable people, especially Ripple employees, would be appreciated. @JoelKatz, @nikb, @warpaul
  25. Hi all, I just saw a question on Twitter about which places it's currently possible in to trade directly on RCL's built in exchanges. The only one I could come up with is Gatehub at the moment. Is this correct ?? And does anyone know if more trading gateways will be opened in the near future ? And are there also plans to built a desktop wallet with built in RCL trading ? Thanks for your answers 👍