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Answer: About the patent, Let's talk


BobWay
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Hi @BobWay. First of all thank you for all your efforts and the time spent explaining all of this to us.

I have read and understood at a very high level the two patents that you mentioned. Without going into too much detail that may be distracting and feed speculative hypothesis and specially trying to economize your time, I would like to ask you how would the 'conversion factor' be effectively determined in the Resource path monitoring patent??

Thank you for waiting patiently @Fberaza I know the writing is obscure I appreciate you reading it so deeply.

The conversion factor is set not actually set by the algorithm at all. That is why it says the converter and use "any suitable" conversion factor. Isn't that cool the patented invention doesn't manage conversion factors at all!

 

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I know that was a bit anti-climactic but I guess you didn't trust me when I wrote:

On 3/12/2019 at 10:08 AM, 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.

Feel free to ask more questions if you are confused.

Keep in mind, this is not a financial patent. It is useful in creating pathways for converting any type of resource to any other type of resource. If your resource was water and you kept it in a pool in your yard, you might get sick of swimming and want to convert that to a pool filled with dirt. You and do that at any potential conversion factor that you find suitable.

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I know that was a bit anti-climactic but I guess you didn't trust me when I wrote:
Feel free to ask more questions if you are confused.
Keep in mind, this is not a financial patent. It is useful in creating pathways for converting any type of resource to any other type of resource. If your resource was water and you kept it in a pool in your yard, you might get sick of swimming and want to convert that to a pool filled with dirt. You and do that at any potential conversion factor that you find suitable.

Do I understand it correct that it basically is a solution to maintain a trading spread for MMs that let them cash in for each passing payment?
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Of course the patent works for any resource system. But if you implied the invention to money resources then it would work as you explain.

In your application of the patent, it would maximize the profit for the MM, while minimizing the incentive transfer to market makers. 

Edited by BobWay
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There have been many discussions on Xrapid effect on price.  Bob do you think the patented methodology is usable in the XRapid situation?  

If so, does it therefore imply that the use of Xrapid in combination with this methodology would have an upward pressure on price greater than the downward pressure of the sale side of XRapid? 

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1 hour ago, BobWay said:

High ROI encourages competition from new market makers which IS consumptive of XRP. Increasing competition in every corridor at once could be quite consumptive of XRP.

And if that happened then as you indicate those new market makers would need XRP.  But we know that Ripple have a billion at any one time at least available for OTC.  If they sold to MM’s OTC to cover that demand then that wouldn’t affect price directly.

Do you think there is any chance Ripple might decide to not sell OTC at some point?  Or on a different but related note...  do you think it’s likely in any near term,  or medium term,   that the one billion per month would not cover OTC demand?

Thanks very much for your thoughts so far...  please be aware we are all grateful and that you don’t owe us anything... and we don’t want you in trouble...

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11 minutes ago, BobWay said:

copy the text of the patent into you favorite editor

You guys do know that having a “favourite editor” is a very bad sign right?   :) 

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On 3/17/2019 at 8:01 PM, BobWay said:

Feel free to collaborate here if you think it will help! I'll watch as you go. Maybe I'll even drop hints.

please can we get more hints?! pretty please!

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20 hours ago, BobWay said:

No more public hints. I don't want to give unnecessary advantage to XRP competitors. Let them read the patent for themselves.

But feel free to talk quietly amongst yourselves. I know some in the forum have a reasonable grasp of the goals and potential mechanisms.

So won't competitors be able to read it anyway? Other projects could pass it to people which are more knowledgeable on patents (because they file themseves). So is the better approach not to have mentioned it in the first place?

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