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As ever Hodor, your blogs shed light in the dark.

My only comment on this blog is that I am an ordinary Joe in the street who has wandered in to this space and just about coped with the tech of investing on exchanges about which I was uncertain and I have grasped many of the commercial nuances and price manipulation that occurs with seeming impunity. When I was buying shares, albeit in a very established system, I just placed my order and got what I wanted.  The risks of the stock market were all that I needed to track as well as the performance of my shares. If however, I now find that

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it's necessary to set aside some time to learn more about how XRP transactions and network communications operate.

then I am out of my depth and so will be over 95% of the global population and therefore most people will not enter this space - maybe that is the best thing for them.

I doubt that you are looking to discourage investors and if you are, it is for the right reasons, but I'm afraid that I will have to take my chances and stay ignorant of certain technicalities which you would recommend - my risk i guess.

ps I already feel like I'm playing Russian roulette in this space when I infrequently transfer funds or move XRP on to my ledger and between exchanges - I'm sure that the adrenaline rush is the same in all instances.

This is just me and no reflection on this blog

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Thanks for writing the guide for using the testnet. I have been wanting to play around with it but have been lazy 

At least this walkthrough should help me get started.

Also, @Hodor  Jake Chervinsky's thoughts on Ripple's class action lawsuit and how the SEC might potentially handle the security issue.

I think the discussion about Ripple starts around 20:00. Jake seems to be on the ball with regards to how SEC works etc

Perhaps you can use this a basis for one of your next blog posts.

https://unchainedpodcast.com/all-things-crypto-regulation-with-jake-chervinsky/

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4 hours ago, mistatee2000 said:

I am out of my depth and so will be over 95% of the global population and therefore most people will not enter this space

I agree actually, and that's why we need really smooth UI from trusted entities.  

It was one of the reasons I was sold, ironically, on XRP at the beginning, because it had a really smooth interface with RippleTrade.  Hopefully some new developments with XRPL Labs and others can help with this. 

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3 hours ago, strikerjax said:

Thanks for writing the guide for using the testnet. I have been wanting to play around with it but have been lazy 

At least this walkthrough should help me get started.

Also, @Hodor  Jake Chervinsky's thoughts on Ripple's class action lawsuit and how the SEC might potentially handle the security issue.

I think the discussion about Ripple starts around 20:00. Jake seems to be on the ball with regards to how SEC works etc

Perhaps you can use this a basis for one of your next blog posts.

https://unchainedpodcast.com/all-things-crypto-regulation-with-jake-chervinsky/

You just linked me to a podcast from Laura Shin...  
That's like me linking you to a 'podcast about XRP's use case' given by Tone Vays.   :D

In any case, I listened to it; when it comes to legal topics, I tend to be more of a spectator than anything else; even though I may have an opinion, my own perspective would not be informed by any real-world knowledge or experience that I could bring to the table.  Maybe a lawyer can weigh in after having a listen themselves. 

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28 minutes ago, Hodor said:

You just linked me to a podcast from Laura Shin...  
That's like me linking you to a 'podcast about XRP's use case' given by Tone Vays.   :D

In any case, I listened to it; when it comes to legal topics, I tend to be more of a spectator than anything else; even though I may have an opinion, my own perspective would not be informed by any real-world knowledge or experience that I could bring to the table.  Maybe a lawyer can weigh in after having a listen themselves. 

Xrp is the only coin I am holding for the last 2 yrs but I like her podcast cause it gives a good overview of what's going on in the rest of the crypto world.  I just ignore her when she talks about ripple/xrp. Jake seems to neutral about ripple/xrp. 

Barry silbert was on her show last year and she asked about the next bull run and he had indicated about mid 2019.

 

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This subject scares me stiff.  Like Mistatree I freeze and fail to engage properly with wallets.

I bought everything on etoro, which is simple and at last with the help of a computer engineer I transferred some XRP to a nano.  This is the limit of my expertise.  To make a payment or use XRP I would need someone to hold my hand.

Saying that test net looks like a really useful concept.  I would like to use it with someone by my side who has confidence and could guide me through the jargon etc. In such circumstances I think this site would really help me gain confidence to use my wallet(s).

Great blog post, as always. 

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If you want to learn more I'd advise you to go to https://xrpl.org/set-up-secure-signing.html (this should be your starting point) and more specifically to https://xrpl.org/set-up-secure-signing.html#use-a-client-library-with-local-signing because I would imagine this is what you'll be using as a beginner. After you've read that follow the steps in https://xrpl.org/get-started-with-rippleapi-for-javascript.html. Please don't just go directly to https://xrpl.org/websocket-api-tool.html (MAIN NET) and start copying and pasting your private key(s) into every API method that requires them like a mad person :-).

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Posted (edited)
4 hours ago, Hodor said:

I agree actually, and that's why we need really smooth UI from trusted entities.  

It was one of the reasons I was sold, ironically, on XRP at the beginning, because it had a really smooth interface with RippleTrade.  Hopefully some new developments with XRPL Labs and others can help with this. 

USER FRIENDLINESS is the key, most people should not even know that what they use is happening on a blockchain. Period.

Most people will never ever do these steps today (see below). Maybe ten years from some of them will but today, no way.

  • Register on a crypto-exchange
  • Fill out KYC/AML forms + sending a copy of the ID
  • Wait for confirmation (depends on how fast the exchange is)
  • Make a wire transfer to the exchange (wait days because SWIFT hates you)
  • Exchange FIAT for the crypto you want (BTC right? I mean XRP, XRP dammit!!!! :-))
  • Get a wallet for Ripple, oh cancel that, XRP, wait Ripple is not XRP, oh snap what's an XRP? I thought I bought Ripple, now I have XRP, there I just blew my mind. Eat toast then use wallet (pun intended)
  • Generate credentials (private&public keys) to get the XRP ledger address, via the wallet you're using. Think that your money is actually in your wallet and then wake up sweating when you figure out it's not. ****, what is crypto, why I'm here..?.
  • Check coinmarketcap daily, about 100x, then celebrate like it's 1 January 2018 or fall into depression like it's August 2019.
  • Start sending money to an other rxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx address or worse start sending money by doing tutorials on xrpl.org without any programming experience
  • Check 10 times before you send money to another address especially if > 10000 XRP, panic....Did it went ok, if not, ledger closed in 3 sec, money gone
  • if yes, dance, if not aaaaaaaaaaaaaaaaaargh, crypto sucks and file a suit against XRP or Ripple but Ripple is XRP or what just happened.

Now imagine people who actually own XRP and go to xrpl.org to try out something new. 99.9% wants do it and try it out but is afraid. 0.1% will do it and 10% of those are the devs. Crypto, folks, is still in its crawling phase. Everyone in here is a pioneer. Yes, even after 10 (BTC) years or so.

Now imagine you're a bank and you go have to go from what you have to crypto or integrate crypto into what you have. Yes, a learning curve. Steep one, fa shizzle, but doable if you tap into their greed and explain them that they can kill their competition using xRapid and XRP.

 

Now forget what I said and start doing things that Hodor wrote on his blog ;-)))))))).

 

Edited by crypto_deus

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7 hours ago, crypto_deus said:

Think that your money is actually in your wallet and then wake up sweating when you figure out it's not. ****, what is crypto, why I'm here..?.

youjustblewm.gif.77e8693539d22a64bf79cba4c4306492.gif

 

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