Jump to content
BobWay

Answer: Wen Moon?

Recommended Posts

Posted (edited)

Not to be a wet blanket or anything, but doesn't the Stellar Foundation own something like 80% of their tokens?  What's to stop them from doing the same thing, in terms of distributing/bootstrapping?  All of the rails are currency agnostic, so it can't be the lack of a network.  The Internet of Value is all about everything being able to use the network just like everything can use the internet today.

Edited by Liagala

Share this post


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

But, I believe, it is actually possible to force XRP into the position of de facto bridge currency. And that is what that patent is about.

This means Mark & Mak will use XRP to fill order books, but those XRP are probably borrowed directly from Ripple? Hence they gain from spread but they don't have to buy XRP to start their market-making business?

Share this post


Link to post
Share on other sites
5 minutes ago, BobWay said:

The mechanism that we patented:

  1. Is completely non-biased. It doesn't care which trader facilitated a payment.
  2. It works without enforcing or attempting to enforce price stability. Each market follows standard supply/demand dynamics.
  3. It only subsidizes risk on the trader supplied funds that actually facilitate bridge payments.
  4. Is scrupulously efficient in deploying XRP. This is what prevents it from putting a downward pressure on price.

(Thanks for this and your previous replies.)

Is it also scalable, either manually somehow or ideally programmatically (i.e. in an automated, online manner)?

Share this post


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

 

 

Of course, I could be wrong in my logic somewhere, or Ripple could fail in their execution, or a million other bad things might happen along the way. So let me repeat, no one should take trading or investment advice from me.

Dear Bob....keep the Ripple stock.

I'd give a lot to own some, and I'd gladly trade a little XRP.  Fifty-fifty sounds like a nice retirement plan to me.

Share this post


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

Is it also scalable, either manually somehow or ideally programmatically (i.e. in an automated, online manner)?

Absolutely, it has to be 100% automated. There is simply too much information to keep up with otherwise.

And it also has to be scalable in the sense that as the volume of payments through XRP as a bridge increases dramatically, the amount of XRP you need to support the mechanism does not increase linearly with volume. Otherwise, you'll eventually run out of XRP, the mechanism will fail, and XRP will cease to be profitable as a bridge currency. Always remember, "It's a profit deal!"  If you can assure that, it takes all the pressure off!

Share this post


Link to post
Share on other sites
5 minutes ago, BobWay said:

to be the de facto bridge currency for the world, you need to divert payments that currently happen fiat/fiat, into payments that happen fiat/crypto + crypt/fiat. And banks have a statutory monopoly on fiat in most or all countries.

This is the part I was missing, thank you!  I was wrong when I said the issue couldn't be lack of a network - that's the exact issue, it just uses a different definition of the word "network".  Stellar (and anyone else) can use the electronic network all they want, but if they don't have the network of partnerships and bank buy-in that Ripple has so carefully cultivated all over the world, it does them no good.

7 minutes ago, BobWay said:

Most talk in the crypto space has been about "overthrowing the banking industry".  You go try to sell that idea to bankers. I dare you! :-)

This is what brought me to XRP in the first place!  Getting all rowdy and trying to storm the castle rarely gets you anywhere.  Change most often comes from within, and this is the only coin I saw heading in that direction.

Share this post


Link to post
Share on other sites
Posted (edited)
1 hour ago, Liagala said:

Not to be a wet blanket or anything, but doesn't the Stellar Foundation own something like 80% of their tokens?  What's to stop them from doing the same thing, in terms of distributing/bootstrapping?  All of the rails are currency agnostic, so it can't be the lack of a network.  The Internet of Value is all about everything being able to use the network just like everything can use the internet today.

Isnt this the purpose of ripple having a patent on the specific way of distributing??  Sounds like almost any other way would put a downwards pressure on XRP ...

 

"conventional wisdom" as @BobWay put it

Edited by rippCurrent

Share this post


Link to post
Share on other sites
4 minutes ago, rippCurrent said:

Isnt this the purpose of ripple having a patent on the specific way of distributing??

It is, but I don't like to have faith in Jed's lack of ability to come up with a similar method that skirts the patent but still accomplishes the goal.  It's theoretically possible that Bob came up with the only possible method, but not guaranteed.  It could be a Coke/Pepsi thing - different enough to get by, but similar enough to steal half the market.

Bob's point about the banks is the big one though, I think.  You can have all the great product you want, if people are already happily using something else they're unlikely to switch.  It's the same inertia problem we're fighting against now.  In time it will work in our favor.

Share this post


Link to post
Share on other sites
6 minutes ago, Liagala said:

It is, but I don't like to have faith in Jed's lack of ability to come up with a similar method that skirts the patent but still accomplishes the goal.  It's theoretically possible that Bob came up with the only possible method, but not guaranteed.  It could be a Coke/Pepsi thing - different enough to get by, but similar enough to steal half the market.

Bob's point about the banks is the big one though, I think.  You can have all the great product you want, if people are already happily using something else they're unlikely to switch.  It's the same inertia problem we're fighting against now.  In time it will work in our favor.

well said, i wonder if @BobWay could give us insight into any concerns he might have of jed being able to 'skirt' around the patent.  I do believe the point you referenced as far as the banks is valid, however, with worldwire it seems that stellar and xlm are getting themselves closer and closer to the banks.

Share this post


Link to post
Share on other sites
Posted (edited)
26 minutes ago, rippCurrent said:

well said, i wonder if @BobWay could give us insight into any concerns he might have of jed being able to 'skirt' around the patent.  I do believe the point you referenced as far as the banks is valid, however, with worldwire it seems that stellar and xlm are getting themselves closer and closer to the banks.

the problem as i see it for Lumens XLM is this:

Quote

SDF — also known as Stellar.org — was incorporated in 2014 as a non-stock nonprofit corporation in the U.S. State of Delaware. SDF has no stock, no profits given to individuals, and no private inurement.

if they suddenly engage in profit making, i'm not sure this'd fly -- [EDIT] they also intend to hold only 5% (+inflation?) of the total supply

that said, i suppose they could just pass lumens on to another entity, like ripple do with XRPII Inc.

but i don't know the legalities here

Edited by zerpdigger

Share this post


Link to post
Share on other sites

×
×
  • Create New...