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BobWay

Hi! I'm Bob

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Posted (edited)

 

8 hours ago, BobWay said:

So in the delivery end of the payment the second trader is buying XRP in exchange for selling his fiat that needs to be delivered. In situations where payments are predominantly one way (say remittance flows from the US to Mexico) the delivery currency is consumed by the transaction. In effect, all of the Pesos that Mark deposited into the exchange to sell for XRP, get removed from the exchange and delivered to Bob.

As the amount of available Pesos is consumed, the demand drives up the price for the rest. This is typical market behavior. But in a small contained system one way flows can completely deplete the delivery currency from the exchange. This stops the payment flow completely.

So "Mak" needs to find a second transactional pathway in which he can sell his XRP (say for EUR) then use that EUR to buy MXN in another market, then redeposit that MXN back into the xRapid exchange so the payment flow can continue. That is called "rebalancing" in our jargon.

Rebalancing is really a costly pain in the ass. No traders really want to do that. What they prefer are two way flows. This allows them to sell their MXN for XRP in support of incoming payment, then to buy the MXN back using slightly less XRP in support of an outgoing payment.

Finding underserved two way flows is really hard because they are so easy to make money on they everyone wants to serve them.

If rebalancing is such a costly pain in the arse and no trader wants to do it: Can Xrapid function on scale in the illiquid, one way corridors, that Ripple is currently targeting?

Edited by Gepster

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Hi Bob...  if you ever get a moment I wonder if you have any thoughts on wallets....     For instance when you saw ToastWallet did you like what you saw?  Do you wish they had done anything differently?

I like it particularly because of the air gapped QR code of a transaction blob capability.  A cold wallet on a never-connected box makes it fairly safe and yet practical for usage I think.

Does Ripple ever consider making an official wallet?   Thanks for you thoughts if you get time.  

Everything you have said so far gels perfectly with the view I had of Ripple....   it’s why badmouthing morons get my goat up so much.   :)      If ever you are in Australia I’d happily shout you a beer or two...   :JC_doubleup:

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22 minutes ago, BobWay said:

From my perspective the Ripple community needs a really great consumer focused client.

I think you'll love xrp.trade, I think it is awesome, unfortunately release has been delayed and delayed, now planned May/June. (no further comments)

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Posted (edited)

Hi @BobWay if you get some time it would be great to hear about how an exchange becomes an xrapid-enabled exchange. Does it create a lot of work on each side or is it a relatively ‘easy’ integration? 

Edited by Howie

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2 minutes ago, Howie said:

Hi @BobWay if you get some time it would be great to hear about how an exchange becomes an xrapid-enabled exchange. Does it create a lot of work on each side or is it a relatively ‘easy’ integration? 

As part of that I’ve often wondered how you can make a payment atomic if the order book can move in the four seconds of xrp transmission.   So is there some sort of order locking involved?  That implies an order can be locked unfavourably if things change in that time and Tran falls through.

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50 minutes ago, EcneitapLatnem said:

I found this hat. I think it might be yours.

 

image.png.609d1dbb109ce560b65e83aafef1d100.png

Love it!! With a bit fancier colors and design, I'd buy it, and wear it!!

@BobWay your energy, passion, knowledge and experience is absolutely incredible. I loved you the first moment I saw you almost dancing while explaining how to issue 100 million ripples on Ripple in just 15 minutes. You are immensely valuable for the XRP ecosystem and a gift to this forum. In just a few days, you've blasted an unimaginable fresh wind through this website. And the more you talk, the more it becomes clear what an important role you've played in developing the platform. It would be great for you to start a blog, with merchandise and all. "Hi! I'm Bob" can be a statement of support to your vision, I would wear that cap or T-shirt proudly. You should consider asking Ripple to buy bob.com for you to start this (to Ripple: you should consider buying this domain for Bob). But take care of your health!!

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51 minutes ago, lucky said:

I think you'll love xrp.trade, I think it is awesome, unfortunately release has been delayed and delayed, now planned May/June. (no further comments)

This threads gets better and better…..

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Hy Bob, very kind of you to share your rich experience with us. As you said, be skeptical, so I am going to be. Is there a way you can verify your identity so we can be sure we are dealing with the "real" Bob? Thanks in advance! 

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8 minutes ago, zlaja26 said:

Hy Bob, very kind of you to share your rich experience with us. As you said, be skeptical, so I am going to be. Is there a way you can verify your identity so we can be sure we are dealing with the "real" Bob? Thanks in advance! 

I suggest a transaction with a memo pointing to this thread from your ancient (~bob) address.

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Hi @BobWay, really appreciate you taking the time to engage with the community. Your responses are really insightful. 

I will ask you some questions at the risk of being ostracized by the XRP Community :)

Do people at Ripple ever discuss the social media figures Bearableguy123, Ripple Riddler, etc?

Has there ever been a case where you or others have thought 'how the hell did they know that?'

Do you think they are an insider or someone just messing with the community?

Do you think they have an element of accuracy in their messages?

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