Answer: Vitalik Buterin - XRP Wallet. Why?

[VincenzoD]

@BobWay Why does Vitalik have a XRP wallet? 

Edited March 20, 2019 by BobWay

[BobWay]

You can ask him. If that is still the case.

But in the early days he was very interested in Ripple. In fact Etherium is built on top of some core implementation ideas he learned from Ripple and rippled. Quoting Vitalik, "Ethereum's concept of a separate "state tree" and "transaction list", borrowed from Ripple, mitigates this to some extent," 

A good chunk of the ideas in the original release of Etherium actually originated with Stefan Thomas.  Vitalik learned them while sleeping on Stefan's couch during one of his early visits to OpenCoin.

Stefan was happy to share those, but he didn't share that he was already working on the next generation concept that addresses most key "on-chain contract" limitations. He called the next generation contract engine: Codius. Codius is a solution for off-chain contract implementation.

I like to think I had a little influence on that. I'd discussed implementing an uncollateralized stable coin on the Ripple ledger using a similar off-chain contract implementation. Stefan then made my concept better and simpler by generalizing it to any user written contract code. Rather than a single use agent network as I had proposed.

[lordzerpington]

 

2 hours ago, BobWay said:

But in the early days he was very interested in Ripple. In fact Etherium is built on top of some core implementation ideas he learned from Ripple and rippled. Quoting Vitalik, "Ethereum's concept of a separate "state tree" and "transaction list", borrowed from Ripple, mitigates this to some extent," 

A good chunk of the ideas in the original release of Etherium actually originated with Stefan Thomas.  Vitalik learned them while sleeping on Stefan's couch during one of his early visits to OpenCoin.

I think this will cause a ripple (ha!) in the cryptoverse.

Edited March 20, 2019 by lordzerpington
random extra words removed

[Guest]

16 hours ago, lordzerpington said:

 

I think this will cause a ripple (ha!) in the cryptoverse.

I don’t think so...  I believe this is already known and understood.  Perhaps not widely known,  but it is available to anyone that has looked.

And to some extent every project has been a riff on ideas from earlier ones.  

[BobWay]

Yes, I'm not putting down what Vitalik did, I think that Etherium is awesome!  He had a concept in his head that he wanted to see built, and he built it. I think that is completely awesome. All the ideas in the cryptocurrency ecosystem have been shared, twisted a little, improved upon and built into different systems for different use cases. All of which drive innovation forward at breakneck speed.

The only thing I take issue with is communities hating on other communities. I don't for a second think that comes from Vitalik at all. But I heard while at SxSW that there is a lot of animosity toward Ripple and the XRPL from the Etherium community. A guy from that community was there and he said, "I don't really know much about Ripple. Nor do I understand why Etherium folks hate it."

So David and I started telling how XRPL works and what you can do with it, and social credit, LETS, rippling payments, on-demand and instant settlement, and even stable coins. And go figure he was totally fascinated. He kept saying, "How come nobody knows about this?"

So, here I am.

[Pablo]

Ah yes, this one?

https://bithomp.com/explorer/rJ2gXg1xcYW6756fBj393Dd9ZekJP45odZ

 

[ChazzCoin]

I have realized that anyone who is a big 'ETH' fan, then anything that could jeopardize their foundation is labeled an enemy and is spoken poorly about.

I, for one, was a big ETH fan and thought this was the end all be all. 100% of my holdings in the early days were ETH. This was the internet 2.0 and nothing else mattered. It is still great, don't get me wrong. What they have done is amazing for innovation and the crypto-verse! Plus, competition drives innovation!

The problem is education. My brother just did this to me over the weekend with ETH, once I laid out ripple, he was f-ing blown over and is all in with helping me build apps for the network now. He has begun questioning their entire foundation, haha, oops.

EDUCATION PEOPLE.

@BobWay, this is why you are so, so needed in this community. 

[Sukrim]

1 hour ago, BobWay said:

Nor do I understand why Etherium folks hate it.

Maybe because they misspell Ethereum? 

[BobWay]

52 minutes ago, Sukrim said:

Maybe because they misspell Ethereum? 

LOL, Global search and replace anyone?

Thank you! I'll try to be better from now on.

[BobWay]

2 hours ago, Pablo said:

Ah yes, this one?

https://bithomp.com/explorer/rJ2gXg1xcYW6756fBj393Dd9ZekJP45odZ

OK, everyone should click that link and notice a few things.

1. Vitalik owns BTC on the XRP Ledger. Actually quite a bit. More than $32,000 worth.
2. He also has an account for CHF (Swiss Francs) on the ledger as well.
3. Vitalik OWES someone else 0.04117 BTC on the XRP Ledger as well. (roughly $160)
4. That person can settle up with Vitalik at any time, by simply spending  BTC from Vitalik's account at SnapSwap.
5. That person doesn't need to ask Vitalik permission to do so. Vitalik's permission is already reflected on the XRP Ledger.

The points 3-5 are what the term "social credit" means.

[FOOD]

On 3/21/2019 at 9:51 AM, BobWay said:

OK, everyone should click that link and notice a few things.

1. Vitalik owns BTC on the XRP Ledger. Actually quite a bit. More than $32,000 worth.
2. He also has an account for CHF (Swiss Francs) on the ledger as well.
3. Vitalik OWES someone else 0.04117 BTC on the XRP Ledger as well. (roughly $160)
4. That person can settle up with Vitalik at any time, by simply spending  BTC from Vitalik's account at SnapSwap.
5. That person doesn't need to ask Vitalik permission to do so. Vitalik's permission is already reflected on the XRP Ledger.

The points 3-5 are what the term "social credit" means.

But what if point 1 wasn't valid and he had zero BTC? would points 4-5 still be valid? 

[BobWay]

12 hours ago, vsyc said:

And I 100% sure that Vitalik sees world whete XRP and ETH coexists, and Codius is a very legit rival.

@BobWay correct me if I wrong.

Curiously, I see the two as complementary. (Weird huh). I actually have a hidden post partially done that talks about different contracts mechanisms. I've only written about bitcoin "contracts". I'm just getting started discussion Ethereum (spelled it right this time!) contracts. After that I planned to talk about the insights that lead to Codius contracts. And finally, how ILP relates to all of it.

But as a preview, just to show how they are different, I'll contrast one pair of differences;

• Ethereum is great for contract authors who want to remain anonymous. I think of them as "fire and forget" use cases. Like ERC-20 token issuances. The token creator can say, "I don't operate the token. I have no control of the token. I collected my ICO value up front through honest two party business transactions. (Buyer demand, Seller supply) Now the users of the token control its destiny. I'm not even involved anymore." And better they could do all of that without ever acknowledging who, in the real world, they are. It sounds cynical when I say it like that. But there are genuinely good use cases that fit into the "fire and forget" pattern as well. Distributed Autonomous Organizations (DAO) are one. Perhaps DAO's whose goals are to reform corrupt governments agains their will.
• Once there is a good Codius contract hosting ecosystem built, Codius could do all of that as well. But it is really much better designed for "keep honest people honest" use cases. So if you and I want to do a deal and I say, "I'll transfer title to X stock to you, if and only if you pay me Y amount of money." Then I can set up a non-anonymously authored Codius contract to show you my good faith. The Codius hosts have no stake in the contract (think AWS, Azure, Google cloud) except to see that it runs accurately and to completion. The hosts get paid for running the contract. Not for passing judgement on it. Because Codius contracts run off-chain, there are ZERO scaling issues. Users could spin up millions of contracts at the same time, each for their own needs. It wouldn't have any effect on the speed of the XRP Ledger at all.

[BobWay]

8 hours ago, EcneitapLatnem said:

But what if point 1 wasn't valid and he had zero BTC? would points 4-5 still be valid? 

So if Vitalik spent or transferred all his BTC, but also still owed his friend BTC, then NO the direct BTC settlement path would be dry. It would be up to Vitalik's friend to contact Vitalik, if he wished to "redeem" that BTC promise for actual BTC.

But interestingly, it is also possible for Vitalik to offer his friend a price to convert that BTC debt to something else. Say BTC to XRP. Vitalik would do this by just putting an offer in the XRP Ledger that says, "I'll trade 0.04117 BTC (held by me) for X amount of XRP (sent to you), at any time." Once Vitalik submits that offer to the XRP Ledger, then 4-5 become valid again. Except now, the settlement asset is XRP.

[kanaas]

So if Vitalik spent or transferred all his BTC, but also still owed his friend BTC, then NO the direct BTC settlement path would be dry. It would be up to Vitalik's friend to contact Vitalik, if he wished to "redeem" that BTC promise for actual BTC.
But interestingly, it is also possible for Vitalik to offer his friend a price to convert that BTC debt to something else. Say BTC to XRP. Vitalik would do this by just putting an offer in the XRP Ledger that says, "I'll trade 0.04117 BTC (held by me) for X amount of XRP (sent to you), at any time." Once Vitalik submits that offer to the XRP Ledger, then 4-5 become valid again. Except now, the settlement asset is XRP.

His problem is that the BTC he still “owns” are.... vapored as... issued by SnapSwap (their exchange was sold to an obscure company that has gone bust)

[BobWay]

21 minutes ago, kanaas said:

His problem is that the BTC he still “owns” are.... vapored as... issued by SnapSwap (their exchange was sold to an obscure company that has gone bust)

Could be. I didn't dig that far. Didn't look to see if they are still traded anyway. That can happen as well.

I had some SnapSwap USD that I forgot about in one of my wallets. In closing out old accounts "trust lines" I managed to convert $6 of what I thought was worthless SnapSwap USD, into $10 of completely live Bitstamp USD. It took one payment and 4 seconds. Rippled found the deal for me. I wasn't even looking.