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Liagala

Answer chat: Wen Moon?

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24 minutes ago, BobWay said:

Yes, growing XRP value is one causation factor that could reduce the absolute XRP quantity need to support XRP's use as a bridge currency.

But I also convinced myself that once XRP became intrenched as a bridge currency, the need to spend XRP to keep it so will tend toward zero. Then any remaining XRP that Ripple holds can be used to encourage additional use cases. 

Sooo...XRP to the moon...then Mars...then...😂

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17 minutes ago, kanaas said:

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

Considering the contributions by Vinnie to the XRP ledger software this seems interesting indeed. David Schwartz mentioned the number of commits on Twitter last month.

 

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Posted (edited)

Hi Bob!

When Ripple has been saying they were incentivizing market makers, is this the method they have been using?

Also, does anyone have a link to this patent?

Edited by elias

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21 minutes ago, UncleMikey said:

@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. 

I had a talk with someone else earlier about this.  You are not lucky, you are smart.  There are a lot of people who have been told about XRP or heard about it somewhere, but they didn't act.  The fact that you are here in this forum shows that you have done research on XRP and are most likely invested.  It does not make you lucky that you chose to pursue something that most people shrug off.

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19 minutes ago, BobWay said:

I love Vinnie!  He couldn't be more awesome, he traded his XRP for BTC, then dig just fine when BTC went up along with XRP.  Last I talked to him he was very happy for the both of us. He retired from having to deal with other people's ******** (not a direct quote). And now gets to do what he wants. And he's been doing awesome things.

I'll answer what you really want to know as part of a larger story. I created a Chapter titled "Crossing the XRP desert" and linked your question there.

Bob, i really appreciate your interaction with our community, its astonishing to get insight from someone who was at Ripple for 5 years!! :)

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Posted (edited)
6 hours ago, zerpdigger said:

so in summary, is it fair to conclude that ripple (or another designated entity) sitting on a massive pile of xrp is in fact a preferable strategy to distributed minting (mining) and other token distribution methods? this is what i always thought was ripple's secret sauce, not because of how much they own in and of itself, but bc they can use the stash to bootstrap and fund liquidity over and over again until xrp is a defacto bridging asset... and in fact, even if we assume a BETTER (faster, cheaper, more secure) network token comes along, it can't compete without using the same strategy (of holding back massive amounts of the token to fund the network rolout and liquidity incentives)

In below is the flow chart of the "Wen Moon". I bet Kitao-san has his own detailed flow chart of mooning too. The best way to predict future is to create one by yourself.

 

Edited by hallwaymonitor

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22 minutes ago, BobWay said:

I didn't know "Wen Moon" was a definitive thing. I was just stealing a meme that I heard. I hope I used it in the correct context.

But I can't seem to open the tweet or image, I get a refusal by the twitter site.

If you would post the diagram so I can expand it, I'd love to read it.

I think Wen Moon is just a meme and I pulled out a "Homer". If I have been mistaken then we are talking about this kid in below. :P

 Yeah, these flow charts usually tend to be tiny. Here is the direct link. Courtesy of XRP Research Center from Twitter. "https://pbs.twimg.com/media/Dzbe7zHVAAAVEN3.jpg"

Dzbe7zHVAAAVEN3.jpg

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Posted (edited)
2 hours ago, BobWay said:

I wrote in the top post that I believe that in the short term the XRP price will be spikey.

XRP becoming a the worlds de facto bridge company take some time, but the process has already started with xCurrent and Ripple's long ongoing discussion with banks and other financial institutions. 

@BobWay Thanks for your answer, but excuse me for not putting my question clear enough. What I actually meant was: would you consider 'short term' to be a matter of weeks, months or even a few years? And when do we run into 'long term'?

Edited by DucPeter

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@BobWay:

Congrats on the newly issued patent from 22JAN19 - Resource transfer setup and verification https://patents.google.com/patent/US10187368B2/en

Have you heard of IBM's World Wire solution? If not, here is a link: https://www.ibm.com/blockchain/solutions/world-wire

Do you (personally, of course) view IBM's new solution to be covered by your patent?

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2 hours ago, rippCurrent said:

I had a talk with someone else earlier about this.  You are not lucky, you are smart.  There are a lot of people who have been told about XRP or heard about it somewhere, but they didn't act.  The fact that you are here in this forum shows that you have done research on XRP and are most likely invested.  It does not make you lucky that you chose to pursue something that most people shrug off.

Thanks buddy, I actually came across ETH first by myself (made a college football bet w/ my dad & discovered crypto while hedging that bet), luckily I got myself (and a few others) in early. 

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3 hours ago, BobWay 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.

@eromyr

3 hours ago, BobWay said:

I think what @Liagala said above was quite sensible. If something seems impossible, then nobody even bothers to look for a solution. But once one solution is found, nobody can criticize your looking for looking for another.

The analogy I like to use is, "What the Wright brothers did was take something that was thought to be impossible, and made it into something that was only really hard." It actually too Boeing and other big companies to make flying easy.

NASA took going to the moon from being impossible, to being really hard. Ripple is working to make going to the moon possible for everybody!

 

 

No, I'm not worried about others attempting to duplicate the effort. In fact, I'm not a fan of offensive use of patents. I suggest we file it defensively so that, 1) nobody could say they had invented the method and stop Ripple from using it. And more importantly 2) to take the inventions from being a trade secret to something we can all talk about. The coolest things about patents, is that you can't patent a secret.

That's the circular business transaction you make. In this case Alice (you all) gives Bob (& Ripple) the right to control the invention for a limited time. In exchange, Bob gives Alice (all of you) the right to know about the invention. Consider the underlying concepts. (You can't patent a concept) Then improve upon the mechanism.

And I think that done in the spirit in which patents were invented, that trade is just awesome and speeds up innovation for everyone.

 

I think that Ripple has been so farsighted in this area that nobody else who started now can come even close. But please realize that my view is more than a little biased! 

 

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Has there been push back from potential customers or shall we say non-believers when you mention the efficiency of using XRP for xborder payments that their reply is "We use USD for xborder payments, because it is already liquid."

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51 minutes ago, DucPeter said:

@BobWay Thanks for your answer, but excuse me for not putting my question clear enough. What I actually meant was: would you consider 'short term' to be a matter of weeks, months or even a few years? And when do we run into 'long term'?

I don’t think Bob feel comfortable speculating this way...besides its probably best that each individual defines their own comfort levels, like time frame on their ROI  or desire to discuss it. 

But if it helps, from a tax/accounting perspective : “long term” > over 1 year

 

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