Jump to content
BobWay

Hi! I'm Bob

Recommended Posts

5 minutes ago, Mackdaddy said:

@Tinyaccount I apologize for quoting the entire passage above. I am new & that was my first post. I actaully tried to shorten it and could not figure out how. Anyway, hopefully I will learn how before posting again.

No need to apologise..   all good.  New members especially are welcome,  and if they are willing to learn as you clearly are,  then that’s even better.

Even our much esteemed host here is guilty of just clicking reply... but I’m not game to chip him for it in case a bolt of lightning strikes me.   :) 

Wait...   @BobWay cant see this post can he?  Oh crap....    :) 

 

You can always go back and edit your own posts if you want to shorten it up a bit.  Also a long unneeded quote is still welcome...   but a short one is better.   :) 

Share this post


Link to post
Share on other sites
8 minutes ago, Mackdaddy said:

@Tinyaccount I apologize for quoting the entire passage above. I am new & that was my first post. I actaully tried to shorten it and could not figure out how. Anyway, hopefully I will learn how before posting again.

Just highlight the part of the post you want to quote and a popup will appear "Quote selection"

Share this post


Link to post
Share on other sites
2 hours ago, BobWay said:
    • Is a cryptocurrency becoming a bridge currency even plausible?

I'm telling you, I think it is.

 

I think you hinted at part of the answer earlier in the thread.  Low value, high volume payments with balanced flows and less trapped cash.

Share this post


Link to post
Share on other sites

<<"The enemy of my friends is my enemy"

That sounds a bit tough and cheek given I've never met the man, but I'm actually serious. I value my friends at Ripple more than anyone can imagine. >>

Perfectly well answered and accepted in the spirit provided. Thank you for your response. 

Share this post


Link to post
Share on other sites
22 hours ago, Jtxrp said:

@BobWayHello Bob,

Can you tell us anything about Ripples relationship with the Bank of England and the IMF? I would be really interested to know what potential relationships have been discussed.

Thanks 😀

@BobWay

Share this post


Link to post
Share on other sites

Second question @BobWay (Assuming I'm allowed to 'double park'!)

In your view, when or what needs to happen within the XRP ecosystem for the XRP price to become primarily a reflection of the potential of XRP - rather than (as it currently stands) being mainly driven by relationship to BTC price movements? Follow up question, would you anticipate this transition to be more likely a gradual one over time, or do you think there will be almost a watershed moment when the actual fortunes of XRP itself will suddenly be a greater influence than following BTC?

Share this post


Link to post
Share on other sites

Apologies if it's been asked already...

Considering the massive amount of XRP out there, how often do you really expect that banks and FIs will have to purchase XRP on exchanges.  Meaning I'm suspecting that nearly all transactions won't have anything to do with the XRP I put out for sale and will instead use a "closed loop" managed by middlemen.

Considering how little is offered at exchanges, a big buy would end up with banks buying XRP at much higher amounts very quickly.  I don't expect this is the reality of the situation.

Share this post


Link to post
Share on other sites
3 hours ago, BobWay said:

So what is required for crypto as a bridge currency to even be considered plausible?

Thank you, thank you, thank you!  Everyone should click that link.

Somewhere in my old notes (and I am not an "insider", just been watching/thinking about this stuff for a number of years) is a line like "You're just trying to make things move better/faster - you're NOT saving the world."  That little insight/note-to-self took a LOT of pressure off of me, personally, and I think it would go a long way in relieving some of the sort of "it's so big and complex I can't process it all, so, I'll just subscribe to handy-dandy conspiracy-theory I found online and pin all my hopes/fears onto someone else!"

Thank you... (and Steve Martin!)  You are doing GREAT Teaching!

Share this post


Link to post
Share on other sites
1 hour ago, Veee said:

You got aired bruh :-/

Thanks for the reminder.

On 3/8/2019 at 9:16 AM, SamIam said:

Every week for several months now, Ripple sends out 10's of millions of XRP. They follow a predictable pattern. Typically 5-50M go out, the receiving wallet then sends out XRP to 2-10 wallets in amounts that are usually in the hundred thousand range (with round numbers), those receiving wallets tend to then send transactions that appear to be payments, not in round numbers. Other wallets with a similar profile seem to be on the receiving end of the payments rolling things back up. Any idea what's going on here?

xPOOL - What can you tell us about it? Ripple registered the trademark years ago. Temenos did a PR about shared liquidity pooling for it's T24 customers that may be related. The theory is Ripple manages global liquidity in partnership with the exchanges to provide banks with price stability. (There's also a Shane Ellis theory that suggests giant buy/sell walls with cash and XRP will do the same on live order books down the road. The walls will move up and down to manage liquidity.)

I've been told xPOOL was going to be a product but then became more of a Ripplenet feature. This may tie in with the private ledger/walled garden idea and the accounts above.  When Bitrex upgraded it's platform strangely 500m of it's ~1B was transferred to Upbit in 50 moves of 49,999,999 XRP. I think an AI could possibly be managing the liquidity pools for Ripple and the 9's are to indicate AI moves. Shortly after this stopped, the funds were moved back in 90M XRP transactions with round numbers suggesting human intervention. Do you know anything on this subject?

There are wallets that do nothing but move funds between exchanges in this manner, sometimes through an intermediary wallet with an 5-15m delay. Destination ID's on all of these suspected xPOOL moves are 0's typically (sometimes 1-10), so it's not customers moving between exchanges.

I guess the big question here - when XRP is used for 8 digit transactions, what is Ripple's strategy to avoid slippage eating up the savings between Mark and Mak?

A couple of interesting ones - The SecurityBounty wallet that had 50K in it for a week and then it was pulled out. Happened a couple years ago, was this some kind of hacking challenge you put together? I also see occasional transactions with encrypted Travel Rule details added. Any idea why this is used vs. pre-transaction negotiation?

I can't be certain on the regular payment from the description in the first paragraph. But with specific txIDs you can start to draw a graph. But I suspect one of two things. The markets teams have announced they move money around on a regular basis. Could be them. You could look for correlations in the market reports.

If it seems like payments are ending up in a bunch of small balance wallets that do nothing but accrue XRP on a regular basis, you might consider that it could be some sort of employee related program. I have personally received a small bonus in XRP. You might be interested to know that, that bonus had to be valued at he market rate and put on my paystub with the other salary. Taxes on the bonus were withheld just like any other salary or bonus. 

An interesting bit of trivia. When OpenCoin started as a company, people with experience in bitcoin wanted to come to work but be paid exclusively in XRP. For a cash poor startup like OpenCoin that turns out to be a pretty sweet arrangement. But I understand the California labor guidelines tend to frown on that sort of thing. 

 

 

Share this post


Link to post
Share on other sites

@BobWay thanks for signing up and answering questions from people... Ive read through a fair chunk, still got more to go so don't envy you there and going to add to your pile too now :)

From what ive seen before any payment is done (and obviously correct me if Im wrong!) i think there was a call for a kyc/aml check. Now, I assume a sanctions check is part of that. Currently with the swift system, and the fact it's not instant, does give banks time to do due diligence, some manual checks (looking up items in world check and the like) to ensure people/companies etc arent sanctioned entities or people they shouldnt be doing business with. Given currently you get a lot of alerts and hits given it's a lot of fuzzy matching, I can only assume ripple have thgouht of this and what happens in this space with the ripple solution? 

Share this post


Link to post
Share on other sites
2 hours ago, BobWay said:

So, 100% no. My discussion here is not Ripple sanctioned.

This thread would never be sanctioned by Ripple! ☺

It varies greatly from their standard PR.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...