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MGI, ODL, Bitso and a theory about the price


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I think it's a bit presumptious to think that your opinion is desired by others, no?  Maybe leave this thread if you don't like it.  It's not what you're saying, it's the rude way in which you are say

Even tho Molten has bowed out, I'm guessing a few "ODL Watchers" remain here with me, and remain interested... With the BS/Bitso trade activities I've been monitoring all these months, I'm noting

Just FYI: December is starting to look interesting from the ODL traffic point of view. These numbers should not be taken too seriously as some might not be ODL directly, but the trend is very pos

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Hi @mouradski,

I have an interesting question for you:

- have you taken into account the pathfinding algorythm Ripplenet uses ?

 

I have looked at volumes of the exchanges of which we have seen some ODL-like transactions, like Bitkub, Bitfinex, Bithumb, Bittrex, and CEX_IO_EUR, but see no evidence that it is already being used

I am just interested if you have already thought of a way to trace those kinds of transactions, that use multiple exchanges and trading pairs, to be as cost efficient as possible.

To be clear:  I wouldn't even know where to begin  :unsure:

Regards

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6 minutes ago, Frisia said:

ODL is still very low. Anyone knows what's going on?

It seems they have turned it off ?  Seems to have started mid Friday (just before the weekend) and not gone back up on Monday

I am not technical, these are just my thoughts?

  • They changed something and Utility scan is not picking up the data right
  • The system has crashed
  • They are doing some sort of major upgrade (perhaps related to these huge transfers we have been noticing in recent weeks)

It would be a good policy if Ripple were to communicate about these issues a bit more.  Perhaps someone has some ideas about what is going on?

 

Screenshot_2020-06-08 RealTime XRP On Demand Liquidity Tracker - ODL Tracking.png

Edited by Julian_Williams
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16 minutes ago, Julian_Williams said:

It seems they have turned it off ?  Seems to have started mid Friday (just before the weekend) and not gone back up on Monday

I am not technical, these are just my thoughts?

  • They changed something and Utility scan is not picking up the data right
  • The system has crashed
  • They are doing some sort of major upgrade (perhaps related to these huge transfers we have been noticing in recent weeks)

It would be a good policy if Ripple were to communicate about these issues a bit more.  Perhaps someone has some ideas about what is going on?

 

Screenshot_2020-06-08 RealTime XRP On Demand Liquidity Tracker - ODL Tracking.png

It's not turned off, transactions are still flowing? It's just a lot less. If I may speculate, they switched off temporarily the ODL market makers, which leaves the liquidity provisioning to other instances.

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1 hour ago, jn_r said:

It's not turned off, transactions are still flowing? It's just a lot less. If I may speculate, they switched off temporarily the ODL market makers, which leaves the liquidity provisioning to other instances.

I think your answer is plausible - it is something to do with market maker software? - it seems to be right across the board -  something similar might have been going on a few weeks ago.  If you look at Tentoshi (I am told Tentoshi is not a direct measure, but a smoothed index) something was switched on 11 May - and then the price remained absolutely stable for two weeks, then it began to rise slowly, then it was switched off

 

 

Screenshot_2020-06-08 liquidity-index XRP MXN - Google Drive.png

Edited by Julian_Williams
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Well, given the destination tag on Bitso, it's Moneygram that has lowered their amounts sent. (tag: 25370527). I would have hoped the frequency would go up to keep volume the same overall, but no such luck. Maybe some maintenance done and starting up a little careful before opening up the faucet wider again. That's what I would do after having moved something new into production, IT-wise.

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9 minutes ago, Frans said:

missed that hint from Moneygram

Can't for the life of me find the tweet, someone asked if they were still using ODL, they confirmed they were and had some big news coming in that area (or words to that effect).

I work in IT and this smells like a "weekend system upgrade followed by a go-live with a phased ramp up to production volumes".

Of course I could be wrong and everyone just decided not to use ODL on Monday across all corridors :)

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10 minutes ago, googie said:

I work in IT and this smells like a "weekend system upgrade followed by a go-live with a phased ramp up to production volumes"

same here

11 minutes ago, googie said:

Of course I could be wrong and everyone just decided not to use ODL on Monday across all corridor

The biggest amounts we see regularly all belong to MGI imo, but don't hold me to that. The total would suggest so, 100 million p/wk, 5 Billion/year

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