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Found 6 results
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  1. I would like to create an ATM machine that accepts Fiat converts it into crypto using the decentralized exchange but I don't know anything about coding .Iwas wondering where I should start. I don't have money to fund it it's a passion project. I went to a Bitcoin ATM machine they had $100 premium on bitcoin plus $11 fee I don't see why you couldn't make a basically free crypto ATM machine that charged $3.75 per transaction. Any thoughts are appreciated
  2. Ripple whitepaper says that "The intersection of two UNLs may include faulty nodes, but so long as the size of the intersection is larger than the bound required to guarantee agreement,". How? Suppose there are three sets of nodes A = 79 nodes B = 21 nodes C = 79 nodes Let's assume that A and B form a UNL set of 100. B and C form another UNL set of 100. Further, let's assume that 19 nodes in set B are malicious. Such a network satisfies > 20% overlap and > 80% good nodes in each set. Now, 62 nodes in set A and 19 nodes in set B can agree on one set of transactions while 62 nodes in set C and 19 nodes in set B can agree on a different set of transactions. The two good overlapping nodes know this but will not be able to prevent a split in the network, right? Or am I missing something? Even if 2 nodes in set B are malicious, they can cause such a split. P.S. pardon my ignorance here if this is something very obvious, I am just learning these concepts.
  3. Hello, I'm ripplescave - a rather bland allusion to Plato's theory of the cave. I'm the caveman diacovering the world of ripple. Hence the name. Now that we got that out of the way (and before anyone tells me to use the search function - spoiler - I have), I have a few Qs. I'm having a fair bit of trouble duly visualizing how xRapid works. I have read several of David Swartz's responses, I've scoured ripple's website, I've seen some diagrams here and there, but I've yet to get a fully laymen run down of the logistics behind how payments are transferred using XRP via the xRapid system. This is my understanding thus far: 1. Bank A receives request to send EUR over to Bank B in, say, Italy, of the amount of €10,000,000. (Let's assume that 1 EUR = 1.25 USD) 2. Bank A buys $12,500,000 USD worth of XRP on the open market from exchange ABC. 3. Bank A then transfers XRP to Bank B via xRapid. 4. xRapid sources liquidity through a "liquidity partner" [from my understanding the LP has the same utility as that of a market maker for stocks] 5. xRapid sources closest LP to Bank B and transfers XRP at (desireably) higher spread to Bank B. 6. Bank B receives XRP and sells for EUR instantaneously on open market. From this exercise arises a few obvious questions. 1. If XRP considerably within the time the LP receives it, isn't this bad for them? They would then transfer XRP at a loss. Is this just risk that the business must undertake on a day to day basis in order to operate? 2. What incentive is there for an LP to be an LP? I still don't see how they make their money in this system. 2. I get that the transfer of XRP is instantaneous using the xRapid system but isn't the withdrawal of fiat from exchanges that the Banks trade with taking the same time as it would today? Do banks get same day cash settlements via exchanges when they try to withdraw their EUR/USD/etc in today's environment? I am not sure as to how this function works. 4. Why would LPs want to bear the risk of holding a reserve of XYZ currency? Aren't they opening themselves up to massive fx risk? If not then how are they protected? Those are the most immediate questions I have for now and I am looking forward to an insight and intelligent discussion that can hopefully shed some light for many who may or may not have the same questions that I do. cheers
  4. Hi guys. Just wondering If you could let me help with step by step procedure of connecting bitstamp gateway on gatehub. I have activated my account at gatehub and using gatehub to buy xrp but I have found gatehub gateway is more expensive if you want to buy xrp than bitstamp for example now if I buy in gatehub market in gatehub account price is .005250 for xrp usd how ever in bitstamp market in same gatehub account it shows xrp/usd price =.005089 which can be a huge difference if you are buying and selling quantity. I got balance in my ripple wallet and primary wallet but when I go to bitstamp market it does not show USD balance it only shows XRP balance. Please let me know how to transfer my USD balance to bitstamp so that I can buy XRP from there.
  5. Question out there for some fintech experts... Ive heard the concept that XRP could be used in an escrow type situation... I'm curious, why would anyone need to lock up the XRP into escrow when it is conceivably flowing heavily in the forex markets? Wouldnt it make more sense to lock up only the fiat and then release those over the Ripple system using XRP to bridge assets and it happens instantly? Why lock up XRP? If it's floating around and banks don't care too much about price because they aren't actually hodling any xrp...it doesn't really matter to them at all, only that the settlement currency (fiat) exists. Anyone have any more insight than I can conjure?
  6. https://www.coindesk.com/consulting-firms-hiring-blockchain-talent/ The article discusses the current shortage of technical talent in this area - the banks are hungry to keep up with the competition in this new market. All "big 4" consulting firms are hiring in this area and the salaries are probably very high.
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