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inmyth

Ripple is a DEX. Why doesn't anyone mention it ?

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15 minutes ago, inmyth said:

These days with all Ripple madness going on, I noticed no media explores what Ripple is. All they care about is XRP and that Ripple is a "centralized Bitcoin".  

Ripple is a Dex, a distributed exchange where anyone can run an exchange. Sort of out-of-the-box Poloniex. Sure there is no mining, but as these exchanges are interconnected the money comes from arbitraging and market making. And each transaction consumes XRP whose amount goes up as the network gets busier. And XRP used as fee is destroyed. The inevitable scarcity is what draws speculators or if you may, investors in.

Btw, can you even place an order on Bitcoin network ?

YES! This is one of the major advantages of the Ripple network that has been mentioned here and there on the tech side, but nobody except the tech-oriented investors seem to pay attention to this. The possibilities with the Ripple network are huge.

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The only bad thing now, if you dont have a wallet... And you want to join the DEX.. You will need atleast 50 xrp... Or even more, just for the trustlines. This is a major hurdle. I never paid, more than 100usd to have an account created.

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7 hours ago, Deux said:

The only bad thing now, if you dont have a wallet... And you want to join the DEX.. You will need atleast 50 xrp... Or even more, just for the trustlines. This is a major hurdle. I never paid, more than 100usd to have an account created.

20 reserve + 5 per trust line. Let's stick with the facts. 

Thanks 

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31 minutes ago, LordVetinari said:

20 reserve + 5 per trust line. Let's stick with the facts. 

Thanks 

So how many pairs do you use? You only trust XRP/USD?

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14 hours ago, inmyth said:

These days with all Ripple madness going on, I noticed no media explores what Ripple is. All they care about is XRP and that Ripple is a "centralized Bitcoin".  

Ripple is a Dex, a distributed exchange where anyone can run an exchange. Sort of out-of-the-box Poloniex. Sure there is no mining, but as these exchanges are interconnected the money comes from arbitraging and market making. And each transaction consumes XRP whose amount goes up as the network gets busier. And XRP used as fee is destroyed. The inevitable scarcity is what draws investors or if you may, speculators in.

Btw, can you even place an order on Bitcoin network ?

I’m a little confused because yes, it sounds amazing and all, but you still need to get fiat on and off the ledger for it to provide real value to anyone.

To do that you need to use an exchange. Or become an exchange yourself, which would be mind numbingly expensive.

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14 hours ago, inmyth said:

These days with all Ripple madness going on, I noticed no media explores what Ripple is. All they care about is XRP and that Ripple is a "centralized Bitcoin".  

Ripple is a Dex, a distributed exchange where anyone can run an exchange. Sort of out-of-the-box Poloniex. Sure there is no mining, but as these exchanges are interconnected the money comes from arbitraging and market making. And each transaction consumes XRP whose amount goes up as the network gets busier. And XRP used as fee is destroyed. The inevitable scarcity is what draws investors or if you may, speculators in.

Btw, can you even place an order on Bitcoin network ?

I’m a little confused by all this because to have any real value you need to get fiat on and off the ledger, which means you need to either be an exchange or deal with an exchange. 

It seems like it’s quite a bit less useful unless you’re already an established financial entity.

Why do I care about IOUs if I have no meaningful way of calling in the loan or providing value to my token? Handshakes are cool until you don’t get paid, and even then you now owe capital gains tax on the sale of tokens?

It doesn’t seem to make sense given the current legal framework from which we operate which is why nobody uses it? 

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7 minutes ago, Sukrim said:

No. You need a trustworthy third party/escrower/gateway.

Sure, but from a regulatory standpoint, you’re in super murky waters, no? 

In other words, as usual, the government is the barrier to entry here. Not the tech.

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14 hours ago, Deux said:

The only bad thing now, if you dont have a wallet... And you want to join the DEX.. You will need atleast 50 xrp... Or even more, just for the trustlines. This is a major hurdle. I never paid, more than 100usd to have an account created.

 

6 hours ago, Deux said:

So how many pairs do you use? You only trust XRP/USD?

50 xrp will allow you to cover the reserve and establish 6 trust lines. Additionally, trust lines can be broken and the 5 xrp are made available again. 

PS: I didn't realize this was a contest so you win. ?

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