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What's up with Fiatleak ???


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3 minutes ago, Dogowner5 said:

You can see a similar thing at Bitso the Mexican exchange.

(trade volume info)

 

Oh, this discussion is revisiting the precipitous we were warned about by Brad back when it happened ?

If so, you will find much info on this if you search back in some older threads.

LMK if I'm confused :)

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Yeah, it was very interesting - IIRC the drop was a few days before BG's tweet. And it felt like an afterthought on their part. Which makes sense, their current focus then wasn't on impressing the HOD

Like you I was wondering why increased value of XRP has not been followed by more liquidity which which should be followed by more ODL I did notice this week that the utility scan was showing a l

Unless the site is lying and hiding volume, (which I think would break a number of financial regulations in Australia,) then there is clearly no increase in XRP ODL from the Australian side. This

@JASCoder but irrespective of the ODL usage, the OVERALL volume must go up if ODL is actually increasing.  That would be shown by the volume indicator at the base of almost all trading charts.

On the two I’ve just looked at and shown here there was the sudden drop as treasury batched payments stopped and yet there is no growth in the volume since.

So to me there is a massive disconnect between then and now.  It looks like ODL at the very least is in a pause.

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9 minutes ago, JASCoder said:

Oh, this discussion is revisiting the precipitous we were warned about by Brad back when it happened ?

Warned after it happened,  :)   Strange sort of warning,   :) 

 

The story is that ODL is being taken up more and more, that it’s very successfully growing even faster than normal Ripplenet volumes.

And yet the XRP volume is NOT growing.  If there is any growth there at all it is microscopic.

We do know that some clients wanted more privacy on their ODL traffic.  So Ripple were looking at ways it could be obfuscated.  But unless ODL has a super magic trick up it’s sleeve,  it can’t hide from the overall site trading volume indicators.  And those indicators have been very disappointing.

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@Dogowner5 - Absolutely correct. I too have been posting the occasional volume chart ( xrp->mxn @ Bitso ). 

I concur the xrp volume is not only unchanging, it's acting clamped: BY THE XRP VOLUME itself, and not by total trade values. which I find interesting in itself...

This long road trip of ODL's deployment is vastly complex, across multiple languages and timezones, befuddled regulators, with nervous project managers and stakeholders risking their jobs on any screwing up. I can only imagine the regular morning scrum meetings !

My suspicion here is there has been stress testing (treasury tranches), paid market maker services (not cheap), and right now there are hard limits measured in total allowed volume of XRP in the current phase of various rollouts.

Otherwise we'd have seen the impact of the 50% jump we had in XRP's price - check it out.

I could go on, but regardless, we shall see as the months roll on, eh ?

Cheers friend  

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2 minutes ago, JASCoder said:

My suspicion here is there has been stress testing (treasury tranches), paid market maker services (not cheap), and right now there are hard limits measured in total allowed volume of XRP in the current phase of various rollouts.

That could be true.  The problem I have with a Ripple enforced clamp idea is that I can’t imagine a reason for doing that.

Every project I have ever been a part of there is a lot of pressure to ramp it UP not clamp it down.

What would be the bad side of increased ODL XRP volumes?  I can’t think of one.  And yet I CAN think of reasons why it would be a good thing for ODL.

 

So like all of us observing...  I am very puzzled.  As you say,  time will tell.

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7 minutes ago, Dogowner5 said:

Warned after it happened,  :)   Strange sort of warning,   :) 

 

The story is that ODL is being taken up more and more, that it’s very successfully growing even faster than normal Ripplenet volumes.

And yet the XRP volume is NOT growing.  If there is any growth there at all it is microscopic.

We do know that some clients wanted more privacy on their ODL traffic.  So Ripple were looking at ways it could be obfuscated.  But unless ODL has a super magic trick up it’s sleeve,  it can’t hide from the overall site trading volume indicators.  And those indicators have been very disappointing.

Yeah, it was very interesting - IIRC the drop was a few days before BG's tweet. And it felt like an afterthought on their part. Which makes sense, their current focus then wasn't on impressing the HODL unwashed masses.

-

I've been watching this daily for over a year now, I'm not worried a bit. There is just no way in hell anyone dealing with an unproven new monetary transaction handling system would just flip a switch and expose themselves to catastrophic financial losses. You scale up in phases - you remediate discovered issues, re-test, then bump up the load at the next phase. Rinse repeat. 

Time will tell. 

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Just now, Dogowner5 said:

That could be true.  The problem I have with a Ripple enforced clamp idea is that I can’t imagine a reason for doing that.

Every project I have ever been a part of there is a lot of pressure to ramp it UP not clamp it down.

What would be the bad side of increased ODL XRP volumes?  I can’t think of one.  And yet I CAN think of reasons why it would be a good thing for ODL.

 

1) There are two parts to ODL - VALUE and VOLUME. So you test both, but first separately. First Big Value transfers. OK, good. Now pay off MM's, and we will test performance of Big counts of transaction events. Monitor, tweak, remediate. THEN signup more capital to MMs, and re-test running BOTH types of stress.

2) Of course. But you ramp up in stages, after all components are proven, and integrated. and scalable for load balancing, etc.

3) Maybe the screwup in routing or overflow of buffering, failing of sub components at hard limits, etc etc - Then losing a few million dollars of client's capital. Risk is risk, shit happens. You must have many parties coordinating with many others. Read up on NASA's Apollo project, and how careful they had to be. That was literally a moon shot :)

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2 hours ago, JASCoder said:

1) There are two parts to ODL - VALUE and VOLUME. So you test both, but first separately. First Big Value transfers. OK, good. Now pay off MM's, and we will test performance of Big counts of transaction events. Monitor, tweak, remediate. THEN signup more capital to MMs, and re-test running BOTH types of stress.

2) Of course. But you ramp up in stages, after all components are proven, and integrated. and scalable for load balancing, etc.

3) Maybe the screwup in routing or overflow of buffering, failing of sub components at hard limits, etc etc - Then losing a few million dollars of client's capital. Risk is risk, shit happens. You must have many parties coordinating with many others. Read up on NASA's Apollo project, and how careful they had to be. That was literally a moon shot :)

 

Like you I was wondering why increased value of XRP has not been followed by more liquidity which which should be followed by more ODL

I did notice this week that the utility scan was showing a little growth about 10 -15% over where it levelled off for several months now and hitting 4.67 which I think is a new high following the big cut back.  

It's frustrating having to wait without knowing what is going on or being prepared, but I judge Ripple silence as a sign of more maturity at the top. 

 

Screenshot_2020-09-12 RealTime XRP On Demand Liquidity Tracker - ODL Tracking.png

Edited by Julian_Williams
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4 minutes ago, Julian_Williams said:

It's frustrating having to wait without knowing what is going on or being prepared, but I judge Ripple silence as a sign of more maturity at the top. 

I'd be quiet too. This pioneering of a new process is expensive, and HELPFUL AF to any wanna-be competitor. 

I would not help them out by showing them my mistakes, and tests, and results. That info cost dearly. Ripples stakeholders surely want to keep their hard fought knowledge :)

They owe us impatient moonbois jack all lmao

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35 minutes ago, NightJanitor said:

Same holds true for business entities conducting business over the ledger, ergo, the digital curtain had to drop...

I feel inclined to agree that some form of obscuring has been installed.  So I suspect that the ODL matching and tracking is now going to be less accurate.

But the overall volume cannot be masked and it doesn’t show any growth at all as far as I can see.  That is what bothers me about the situation.

I’m still confident it will save money and be adopted.  I just don’t think it’s getting much traction in the current climate.

@JASCoder feels it’s a staged process,  and he could be right,  but that feels like a overly complex answer when ‘it’s not getting traction right now’ seems more likely and simpler to me.

I hope something changes for the better soon(tm).

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1 hour ago, Dogowner5 said:

I feel inclined to agree that some form of obscuring has been installed.  So I suspect that the ODL matching and tracking is now going to be less accurate.

But the overall volume cannot be masked and it doesn’t show any growth at all as far as I can see.  That is what bothers me about the situation.

I’m still confident it will save money and be adopted.  I just don’t think it’s getting much traction in the current climate.

@JASCoder feels it’s a staged process,  and he could be right,  but that feels like a overly complex answer when ‘it’s not getting traction right now’ seems more likely and simpler to me.

I hope something changes for the better soon(tm).

Well, this is not going to comfort you, then, but... It wouldn't be much of a curtain if it were easy to see through. :)

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1 hour ago, NightJanitor said:

Well, this is not going to comfort you, then, but... It wouldn't be much of a curtain if it were easy to see through. :)

Unless I’m mistaken, it would be illegal for BTCMarkets to falsely report XRP volumes.  So I don’t think you can be correct in your inference that the volume is increasing but it can’t be seen.

The reported XRP trading volume is not increasing so I do not believe ODP volume is increasing in AUD and Mexican Pesos at least.  I haven’t looked at other currencies.

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