Answer chat: Wen Moon?

[Liagala]

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 March 12, 2019 by Liagala

[Dario_o]

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?

[Guest]

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)?

[dr_ed]

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.

[Liagala]

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.

[rippCurrent]

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 March 12, 2019 by rippCurrent

[Liagala]

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.

[rippCurrent]

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.

[Guest]

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 March 12, 2019 by Guest

[LongRun]

9 hours ago, BobWay said:

So to maximize XRP's value, you must focus on the XRP bridge use case. And that is exactly what Ripple is focused on.

Hi Bob,

Aside from the above quoted usecase and its potential impact on the XRP value, how you think about the impact of other usecases for XRP on its value?

What usecases (current or future) have the biggest (possible) impact on XRP’s value and how? 

Thanks!  

 

 

[DucPeter]

Thanks for another great answer, @BobWay! But to help me understand you right: what would you consider short term or long term?

[Edm22]

1 hour ago, BobWay said:

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,

First off, thank you for all your time and effort. I may be off here, but isn't this an argument for an increase in XRP price/value, so that if XRP is say worth $100 per unit (just an example), much smaller amounts of XRP would be necessary for large TX's, hence leading to a much longer lifespan for XRP?

Than you again

[UncleMikey]

@BobWay when institutions use XRP as a bridge currency, will those transactions also flow through the current exchanges (i.e. coinbase) that appear to only be retail speculation at the moment, or will they be processed elsewhere?

[kanaas]

Hi Bob. Thanks for bringing lots of input and insights. While I suppose many will be more like personal views on a future for XRP,  there sure will be a few based on insight and knowledge that you have and we as outsiders don't.

This brings me to another inside person you may know very well and who was leaning to a much more negative view on XRP. I'm talking about Vinnie Falco. By the end of his career @Ripple he even was extreme bearisch on XRP and sold all his holding before that famous run from 0.006 to 0.2 and later even to 3.

When someone is that negative he must have had a reason for that. Any idea from your side? Not to rant against him, because he seemed very talented and smart, but more like to understand his and yours view and how they differ.

TIA

[UncleMikey]

@BobWay

Thanks for the reply

I suppose I am a speculator at the moment, but was actually dreaming of what I could earn (even at $0.31) if there was enough volume for me to quickly sell & buy back at a .0001 spread. 

Then I thought what that would be if XRP was $31.00 and needed a cold shower 

But aside from speculator, I wanna help build something that has a use, I don’t wanna just be that guy that just got lucky. 

Edited March 12, 2019 by UncleMikey
Added ping to Bob & didn’t want to forget to thank him & clarify desire to not just speculate