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Can't locate xRapid demo transaction on RCL

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7 minutes ago, KarmaCoverage said:

The risk has changed form, the XRPLedger UNL IS the Counterparty.

...as well as the solvency of the exchanges involved in xRapid. My point was that there's no 'living human' counterparty that could renege on a deal. 

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13 minutes ago, Graine said:

xRapid is a set of bots that do the following: deposit fiat to exchange -> buy xrp on exchange -> send xrp to the other exchange -> sell xrp for fiat -> withdraw fiat to destination bank. 
There is no 'counterparty' risk.

My point is that the part that transfers from remote exchange to remote bank account is risky - my payment to you should be returned in full if the absolute certainty that your account was updated != true

In the other thread @KarmaCoverage mentions

Quote

Escrow was abandoned as the method of connecting ledgers via ILP, in favor of PayChan and "Streaming payments".

Which I didn't take into consideration. I will wait till you find the transaction and then we can hopefully learn more ...

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3 hours ago, Graine said:

Using the abovementioned picture as a reference, I have combed through the 2 days worth of XRP payments ( May 14 up to the 23:59 of May 15), searching for a payment with amount greater than 137 but smaller than 138 XRP. 

 

Surely, Ripple couldn't have called the "first live xRapid demo' live, and then not to show the system being, y'know, live. That would be misleading. And Ripple is not known for misleading marketing. 

I know I'm late to this thread, but I found this odd as well.

It's clear that the demo in question was run on a local (localhost:5002) server running on David's machine. I wasn't going to dig into the ledger to confirm, but I suspected this was more of a "live" demo, rather then a demo of a "live" transaction. 

There are ways to access API's from a localserver, but it often requires setting the appropriate headers on the API Call, including some kind of API key, as well as making sure the live server is setup to accept that request. If you've ever worked with API's and local servers, you know what I'm talking about, how difficult it can be if the API isnt settup correctly, and why sometimes it's requiring administrative access to the API's server settings. It's entirely possible, but I find it difficult to believe that David was hitting the live API in this circumstance (especially using the conventions internet connection). I don't blame him for it though considering that this is how live demo's are generally managed. 

Perhaps they could have chosen better language when marketing this particular demo. 

Edited by nav

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26 minutes ago, nav said:

It's clear that the demo in question was run on a local (localhost:5002) server running on David's machine. I wasn't going to dig into the ledger to confirm, but I suspected this was more of a "live" demo, rather then a demo of a "live" transaction.

I would be shocked if this were the case. How do you know it was connecting to localhost? I can imagine he was running a validator node and connecting to that, but for it to not be a transaction for real would be shameful indeed. I do demos like this a lot (or used to) and when it's faked, I tell people it's faked.

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27 minutes ago, nav said:

It's clear that the demo in question was run on a local (localhost:5002) server running on David's machine.

Noticed that as well, but decided to not mention it for the similar reasons you quoted.

 

28 minutes ago, nav said:

Perhaps they could have chosen better language when marketing this particular demo. 

It seems that Ripple has been having their share of ambiguously worded  statement, that tend to distort picture in their favor. 

It seems that the "witness making of history" was a bland demonstration of a powerpoint  moving pictures on a local machine. :(

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1 minute ago, Graine said:

Noticed that as well, but decided to not mention it for the similar reasons you quoted.

 

It seems that Ripple has been having their share of ambiguously worded  statement, that tend to distort picture in their favor. 

It seems that the "witness making of history" was a bland demonstration of a powerpoint  moving pictures on a local machine. :(

This would make regulatory compliance sense.

No need for Ripple to expose itself to a violation at this point.

Also, I think they have been running ILP in atomic mode, and still are running RippleNet with ILP in atomic mode, for xCurrent ledger > xCurrent ledger TXs. With Ripple Inc, running the "attesting" or "notary" node required for atomic mode. (someone correct me if that is inaccurate)

My guess is that the big shift will come with a regulatory edict, xRapid going into full live production, with ILP switching into Universal mode, and the money remittance use case will begin to flow through XRPLedger. Guessing we have a few more months for this to unfold, but honestly nobody outside of Ripple could accurately predict timing, and to some degree timing is out of Ripple's hands as well.

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48 minutes ago, nav said:

It's clear that the demo in question was run on a local (localhost:5002) server running on David's machine. I wasn't going to dig into the ledger to confirm, but I suspected this was more of a "live" demo, rather then a demo of a "live" transaction.

I attended the demo, and the address bar of the browser that they used for the demonstration indeed had a localhost address, which isn't surprising to me. I assumed that they were running a user interface locally (i.e., a local web server hosting the webpage used in the demo) that made api calls to a remote xRapid API server. In other words, I think the address was referring to the interface, not the actual xRapid product. I assume most customers don't have a need for a UI, since they want to integrate with existing products/services.

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3 minutes ago, XRP--mv said:

It was a "live" demo, not a live transaction. Two different things.

I guess I should file that along the 'unique use of XRP' which doesn't mean exclusively XRP, and a 'blockchain based solution' which has no blockchain. Just Ripple-speak. 
#misleadingmarketing

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1 hour ago, Graine said:

I guess I should file that along the 'unique use of XRP' which doesn't mean exclusively XRP, and a 'blockchain based solution' which has no blockchain. Just Ripple-speak. 
#misleadingmarketing

So did they move $100 or didn't they?

6 hours ago, EasterBunny said:

https://xrpcharts.ripple.com/#/transactions/2704862BAB1159352341BAEB408846B4AF1E1BD525FD89A5DE4E6608C40B44A1

It took some digging, but this looks like it could be the transaction from the live demo.

 

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1 hour ago, Rabbit_Kick_Club said:

I attended the demo, and the address bar of the browser that they used for the demonstration indeed had a localhost address, which isn't surprising to me. I assumed that they were running a user interface locally (i.e., a local web server hosting the webpage used in the demo) that made api calls to a remote xRapid API server. In other words, I think the address was referring to the interface, not the actual xRapid product. I assume most customers don't have a need for a UI, since they want to integrate with existing products/services.

Indeed. As you cannot drag an actual system in there from some local bank, you need to emulate that part (which was the screen @JoelKatz used as an interface). They probably use similar ones for testing. But the backend it connects to (routed through local host) was probably the actual infrastructure that is used for xRapid. 

xRapid is a product that will have a lot more behind it than we know (that part is not open source as they sell that to banks).

Money really moved on real infrastructure guys, we’ll find out.

Edited by Amigo

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