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Mhizha_Man

How does xRapid provide liquidity?

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3 hours ago, elias said:

Is deposit and withdraw functionality part of the public API of any exchanges, or have they granted Ripple exclusive access to this?

 

 

From the Poloniex API documentation you can withdraw to an address. Although I didn't look further I'm guessing you can specify a tag. Text below is from their API docs.

 

withdraw
Immediately places a withdrawal for a given currency, with no email confirmation. In order to use this method, the withdrawal privilege must be enabled for your API key. Required POST parameters are "currency", "amount", and "address". For XMR withdrawals, you may optionally specify "paymentId". 

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8 hours ago, elias said:

I still don't understand this chart.

I’ve my doubts as well for some corridors. But the point is there is room for improvement on some corridors, where xrp fits, and may be even on the classicals like (eur-usd).

Also the data come from a period when there was much less liquidity as there is now.

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I really like the idea of using exchanges liquidity, but why don't you try to push them to integrate with ILP? That would be a huge improvement in integration and speed. They would gain more volume (so more fees) and it would require a common API, instead of building on the single API of the exchanges (also because some of those API really sucks).

Imagine having Bitstamp on ILP, and the banks of ripple network on ILP. The final withdrawal step could be a connector for example between USD.Bitstamp and USD.bank, to have everything instant. But idk how mature is ILP to do this.

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41 minutes ago, tulo said:

I really like the idea of using exchanges liquidity, but why don't you try to push them to integrate with ILP? That would be a huge improvement in integration and speed. They would gain more volume (so more fees) and it would require a common API, instead of building on the single API of the exchanges (also because some of those API really sucks).

When Kraken went off-line for 2 days, I honestly thought this is exactly what they were doing (given the timing, Fidor bank being Kraken’s banking provider and many other factors). I was wrong obviously.

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3 minutes ago, elias said:

How can moving through XRP provide better liquidity?

Probably not better market depth, but better rates than on traditional FOREX markets are not unlikely to occur from time to time exactly because these markets are so shallow and there are not that many market makers that go from fiat1 to fiat2 while also probably having access to other fiat:fiat markets.

@mDuo13 - I agree about problems and MVPs, I just assumed that xRapid was more like https://github.com/ripple/ilp-plugin-xrp-escrow than https://github.com/butor/blackbird (random arbitrage bot project, just for mainly BTC, not fiat) - but maybe that's what xPool is becoming.

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I'm thinking that a company like money gram might revitalize itself by offering XRP-Fiat pairs in all the countries it operates. Kind of like current crypto exchanges but with a much higher amount of fiat-XRP pairs. 

https://money.moneygram.com.au/information/currencies-and-countries

I think the current image we have of Moneygram is individual remittances, but if they are a viable path for bank A to send money through xRapid to bank B, then the pathfinding would take that route as its the cheapest? Moneygram already has offices and holds so many fiat currencies, they would be a perfect way to open up an incredible amount of corridors for XRP.

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13 hours ago, tulo said:

I really like the idea of using exchanges liquidity, but why don't you try to push them to integrate with ILP? That would be a huge improvement in integration and speed. They would gain more volume (so more fees) and it would require a common API, instead of building on the single API of the exchanges (also because some of those API really sucks).

Imagine having Bitstamp on ILP, and the banks of ripple network on ILP. The final withdrawal step could be a connector for example between USD.Bitstamp and USD.bank, to have everything instant. But idk how mature is ILP to do this.

I appreciate most of your contributions but sometimes I miss a bit trust into the project and the team. I cannot imagine Ripple Labs does not have as good ideas as you can come up with. Lets not be ignorant about the capabilities of this team. Only because you do not have the full picture does not mean the train is on the wrong rail. We can moan about everything and talk ourselves into disbelieve but Ripple will just do what they think is right. I really appreciate the insights we get every now and then, even though they are sparse. Everybody having worked on software projects knows the drill. Everything takes longer, is more expensive and complicated than thought in the beginning and as already mentioned, this industry is a single ball ache on a motivational and regulative level. Hashtag zero doubt. 

 

UPDATE

 

Same goes to @Sukrim ;p 

Edited by xh3b4sd

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3 minutes ago, xh3b4sd said:

I cannot imagine Ripple Labs does not have as good ideas as you can come up with. Lets not be ignorant about the capabilities of this team.

You mean the team that had to lock up 55 billion(!) XRP twice a few weeks ago because the first time they didn't read their own manual?

I have several commits in rippled, earned a bug bounty, run a validator and a full history node on my own budget and am moderating 2 forums about Ripple. Thanks for voicing your concern, I'm looking forward to your solutions and projects.

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5 hours ago, Sukrim said:

You mean the team that had to lock up 55 billion(!) XRP twice a few weeks ago because the first time they didn't read their own manual?

I have several commits in rippled, earned a bug bounty, run a validator and a full history node on my own budget and am moderating 2 forums about Ripple. Thanks for voicing your concern, I'm looking forward to your solutions and projects.

This is actually exactly the mindset I am talking about. I am pretty sure you are good at what you are doing and I appreciate all your efforts but a lot of things you say smell a lot like arrogance and ignorance and like you do it better than others and others are idiots and you are not. This is the type of Max Entropy idioticy that does not move anything further. You can keep going like this, but there will nothing really change IMO. When you are so sick of all of this maybe just let it go or do it better yourself. Looking forward to your Western Union deal. I am sure you are able to get it smart ***. Why even bother when you are that frustrated. I sit back meanwhile and enjoy the show. 

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8 hours ago, Sukrim said:

You mean the team that had to lock up 55 billion(!) XRP twice a few weeks ago because the first time they didn't read their own manual?

It is easy (well, relatively) to do everything yourself if you are smart and experienced. While in every reasonably big team/company there are juniors/regulars. You need to give them work, you need to train them and you can’t track their every step if you want them to thrive. Mistakes will be made (and some say, faster we fail - faster we learn). In the long run it is much more important how a company reacts to those mistakes. 

And no, you can’t “just” hire a team of super-stars who write code without bugs (we all know those extremely brilliant non-buggy people exist even though nobody ever seen them).

Edited by Lamberth

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6 hours ago, xh3b4sd said:

This is actually exactly the mindset I am talking about. I am pretty sure you are good at what you are doing and I appreciate all your efforts but a lot of things you say smell a lot like arrogance and ignorance and like you do it better than others and others are idiots and you are not. This is the type of Max Entropy idioticy that does not move anything further. You can keep going like this, but there will nothing really change IMO. When you are so sick of all of this maybe just let it go or do it better yourself. Looking forward to your Western Union deal. I am sure you are able to get it smart ***. Why even bother when you are that frustrated. I sit back meanwhile and enjoy the show. 

I think that was a bit harsh. I'm sure I'm not the only one who values @Sukrim 's contributions to this forum. Please don't drive people away from the conversation.

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