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P3T3RIS

xRapid execution order confirmed by David Schwarz

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You can run a red light or you can fail to stop at a red light. Running a red light is a crime. The difference is important because to commit a crime you must commit an act in violation of law. Failing to act is not an act itself and law cannot force someone to act, it can only prohibit certain acts. But if you run a red light, the real world will treat you as if you ran a red light. Exchanges have buy and sell orders. If you sell one you buy the other. 

Edited by Konan45

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3 minutes ago, Konan45 said:

Failing to act is not an act itself and law cannot force someone to act . . .

Unless you live in the USA and the government (formerly) tells you that you must purchase health insurance or pay a fine. If I'm ever elected POTUS, would you object to being nominated to serve on the SCOTUS?

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4 hours ago, GoldenGoose said:

Incidentally, of course, the relative value between these two "cousins" is far more stable than the relative value of either of them

I went out with  two cousins once (not at the same time, that would be wrong) oh and not my cousins,  that would be wronger, one was short and the other one was umm, well shorter. This thread above my pay grade,  where's my truck :D 

After reading this thread again and trying to get a handle on these financial guru's I've realized my mistake,  I went long on the short one and shorter on the short one , it should have been longer on the short one and shorter on the short one :wacko3:

Edited by Truckdriver

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3 hours ago, Wandering_Dog said:

I understand your point, and I think the meaning is well intended. But I cringe at people saying USD isn't considered money elsewhere. It's still the global reserve unit, a unit of USD reserves is literally the best "money" available on planet Earth today. 

I don't know about that. I'm quite partial to Monopoly money. I've lost count of how many hotels I've bought with Monopoly money.
Never been able to buy a hotel with GBP or USD.
I recognise value for money when I see it :acute:

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10 hours ago, opaopa said:

This is exactly why fiat it is less subjective then money. The more narrow a definition of a word is, the less room there is left for subjective interpretation.

I get your point but (again) this has nothing to do with subjectivity rather with categorization. You start with money, a broad term. There is a reason why at the top level, at the all encompassing level, the definition has not been narrowed, because otherwise you can't create subcategories. The narrowing of the definition starts with the subcategories,... 

If money (category label) were to mean fiat (subcategory label), then where shall we place (private) digital tokens, cash, bank deposits,...

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8 hours ago, Konan45 said:

You can run a red light or you can fail to stop at a red light. Running a red light is a crime. The difference is important because to commit a crime you must commit an act in violation of law. Failing to act is not an act itself and law cannot force someone to act, it can only prohibit certain acts. But if you run a red light, the real world will treat you as if you ran a red light. Exchanges have buy and sell orders. If you sell one you buy the other. 

It depends where you live, I guess. In the US (at least CA, I didn't check all the states) there is no difference between failing to stop at a red light, and running a red light. The government can indeed force you to act, in the US.

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8 hours ago, BrownBear said:

The question remains, do I get the promised 1,000 XRP for proving XRP was used as a base currency at any point in a transaction?

Like I wrote... You do that in a week and get confirmation from Ripple, you get that 1000 XRP.

Just get a confirmation from Ripple employee that public orderbook you and I see in Bitso XRP/MXN is used for xRapid and I’m more than happy to send you those funds.

Why, because I believe that exchanges do not want to sell XRP out of their stack but provide the path for money to move and profit from there.

This probably does mean nothing to you, since you only buy XRP as investment, but I try to think of all possible ways to use my stack to use it inside the system, add to the overall stack I have and making profit by providing liquidity to the market; acting as market maker instead of taker.

I know this sounds strange, but if you’d see what I see, you would be buying today.

Edited by P3T3RIS

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1 minute ago, P3T3RIS said:

Like I wrote... You do that in a week and get confirmation from Ripple, you get that 1000 XRP.

Just get a confirmation from Ripple employee that public orderbook you and I see in Bitso XRP/MXN is used for xRapid and I’m more than happy to send you those funds.

Why, because I believe that exchanges do not want to sell XRP out if their stack but provide the path for money to move and profit from there.

This probably does not mean nothing to you, since you only buy XRP as investment, but I try to think of all possible ways to use my stack to use it inside the system, add to the overall stack I have and making profit by providing liquidity to the market; acting as market maker instead of taker.

I know this sounds strange, but if you’d see what I see, you would be buying today.

It's in the link I used. The way it works has been explained to before. There is not a single person that is agreement with you and you have had multiple people try and explain it to you. Even when Ripple THEMSELVES say it, you still say it is wrong.

I can only conclude that you are acting like this intentionally to renege on a bet YOU made.

It's like saying "Prove there is a cow on the moon" and someone produces a cow on the moon so you respond with "But I mean an INVISIBLE COW NOBODY CAN EVER SEE!!"

Your bet was:

  • Show me an order book with XRP as a base currency and;
  • One that is used for xRapid liquidity

I did this. But I'll do it once more.

David Schwartz tweet:

Quote

With xRapid, they'll buy directly from exchanges and sell a minute or so later to minimize exposure to volatility. With xCurrent or xVia, they can buy the destination currency from an xRapid customer.

You seem to think "Buy from exchanges" means buying OTC in a secret squirrel meeting nobody can ever know about. This is simply not true.

Just two months ago in a tweet shown from David you agreed with it uses the public order book. So I have evidence that you acknowledge that xRapid uses the public order book.

 

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@BrownBear

I have no problem in paying you as soon as you get that confirmation from someone from Ripple. I do not need your explanations, I need confirmation from Ripple that public XRP/fiat orderbooks are used for xRapid execution, that is all. No links, I have read all documentation long ago.

I have a problem with that, since like David said ”you sell fiat for XRP and on the other end you buy fiat with XRP”, which requires XRP as counter currency in both ends, which means xRapid uses ONLY XRP  as counter currency in all xRapid transactions where currency changes.

And believe me, this has nothing to do with you buying XRP or selling, this is all about bank executing a sell order to RippleNet exchange and exchange transferring XRP to other exchange for conversion and settlement at receiving bank.

I do not know about your stack, but to me 1000 XRP is absolutely nothing. Sorry to say, but you just keep pushing without bringing anything to this. If I remember correctly, I once donated 2000 XRP to a charity that was arranged by a XRP community member, so don’t you worry and whine here about your money.

If you get @JoelKatz to this forum to confirm that I am wrong, I am more than happy 👍🏼

Edited by P3T3RIS

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1 hour ago, P3T3RIS said:

@BrownBear

I have no problem in paying you as soon as you get that confirmation from someone from Ripple. I do not need your explanations, I need confirmation from Ripple that public XRP/fiat orderbooks are used for xRapid execution, that is all. No links, I have read all documentation long ago.

You already have your confirmation. Limit orders only exist on an exchange. There are no limit order for OTC - OTC are not on exchanges.

Quote

I have a problem with that, since like David said ”you sell fiat for XRP and on the other end you buy fiat with XRP”, which requires XRP as counter currency in both ends, which means xRapid uses ONLY XRP  as counter currency in all xRapid transactions where currency changes.

And believe me, this has nothing to do with you buying XRP or selling, this is all about bank executing a sell order to RippleNet exchange and exchange transferring XRP to other exchange for conversion and settlement at receiving bank.

That's your problem. It's impossible to have the same counter currency on both ends of the transaction. Because then you would have xxx/XRP to xxx/XRP and seeing as how a counter currency is the one you buy WITH. You must start with XRP for it to BE a counter currency. In Davids example it is XRP/FIAT to FIAT/XRP and it really doesn't matter if he uses the words 'sell fiat' and 'buy fiat' because it means the same darn thing. You are disposing of one asset to obtain another.

1 hour ago, P3T3RIS said:

I do not know about your stack, but to me 1000 XRP is absolutely nothing. Sorry to say, but you just keep pushing without bringing anything to this. If I remember correctly, I once donated 2000 XRP to a charity that was arranged by a XRP community member, so don’t you worry and whine here about your money.

If you get @JoelKatz to this forum to confirm that I am wrong, I am more than happy 👍🏼

I already provided two sources for confirmation by Ripple. One by David himself. Having the same person say the same thing again won't change anything. 

Edited by BrownBear
removed personal attack. I wont stoop to your level

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6 days left and counting @BrownBear

Do not harrass me any more before you have found someone from Ripple to join and confirm. I’m not paying you for talking, I’m paying you for doing.

Show us all you are more than just talk 🏆

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10 minutes ago, P3T3RIS said:

6 days left and counting @BrownBear

Do not harrass me any more before you have found someone from Ripple to join and confirm. I’m not paying you for talking, I’m paying you for doing.

Show us all you are more than just talk 🏆

Now they have to join XRPCHAT and confirm? A tweet wasn't enough? Ripples website wasn't enough?

Any OTHER conditions you want to impose rather than facts?

Here is ANOTHER post from David: 

Quote

For xRapid to work, there has to be sufficient liquidity between XRP and the local fiat currency to permit fiat currency to be bought and sold as needed. A lot of this liquidity is already being provided organically by market makers. xRapid will just mean that instead of (probably) trading almost exclusively with speculators, market makers will increasing trade with market takers trying to source liquidity through XRP.

Speculators = Investors - Investors trade on Exchange Markets to provide the liquidity.

In an example he also posted.:

Quote

The purpose of xRapid is to provide liquidity on demand through XRP. With xRapid, a cross-currency payment can, in just a minute or two, buy XRP with USD and then sell the XRP for MXN on existing digital asset exchanges. Within the RippleNet network, xRapid can provide rapid settlement through existing XRP liquidity for payments initiated elsewhere on the network.

Buy XRP = XRP/USD 

Sell XRP = MXN/XRP 

How many more posts from David do you require to say that xRapid uses existing exchanges where the liquidity is sources by speculators?

Edited by BrownBear

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