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Roborovskii

[Evidence] Dismissing the myth that XRP will not be used by Banks

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Just now, Graine said:

Fidor used authorizedaccounts. So preventing XRP deposits might have been KYC/AML warranted. 

Thx @Graine. I'm just saying you could use their account to argue the opposite of this topic i.e "dismissing the myth that XRP will be used by banks". 

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12 minutes ago, Xi195 said:

This isn't a fair statement, and your prior remark was quite rude and unbecoming of this forum. @tulo and @Vinnie are simply saying that the only thing that will "dismiss the myth that XRP will not by used by banks" is on ledger transactions of a bank doing just that. This is fact not FUD. Your topic would be more aptly titled "Evidence banks will use XRP" or something similar. It does little to prove banks will be using XRP. Even the slide above in no way implies that banks will be directly handling XRP as you seek to "prove". Instead it shows a market for XRP, BTC, JPY and USD pegged cryptos, and "SBI Coin", and other regional coins being used to facilitate cross-border transactions. As we all know this can happen through a market maker which removes the liability of banks handling cryptos directly. 

Yes, I was intentionally rude. This is in response to the intentional side-stepping of questions and misdirection in replies, all done to create an atmosphere of fear, uncertainty and doubt (FUD). I will have to call a spade a spade here. This post was in response to the persistent belief being disseminated that there are no plans for XRP to be used. It would be unfair to Ripple and XRP long term holders that nay-sayers constantly bombard the crypto community with lies, half truths and innuendos while we are expected to sit around daintily sipping tea and being polite. This year needs to be different.

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47 minutes ago, Roborovskii said:

This post was in response to the persistent belief being disseminated that there are no plans for XRP to be used

Who is arguing there are no plans to use XRP institutionally? Plans by definition are uncertain. Do you think there's a possibility banks never put their hands directly on XRP?

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3 hours ago, Roborovskii said:

So we now know who the fudders are in here.

Ha! It's not FUD...it's just bringing to the reality the chearleaders....and I probably have more XRP than you.

And since I'm a science guy I laugh at which "proofs" of "evidences" are brought on this forum every day by fanboy, useless journalist (probably not even real journalists but nowadays with internet anybody can become one) and ingnorant people (in the sense that they ingnore the facts). 

What I want to say is that yes, there SEEMS to be plans for XRP, but if I don't see I don't believe...that is how I'm done.

It's also years they are talking about decentralization...we are still a joke of the cryptocommunity because RCL is centralized. And they are very right...ripple could generate more XRP or "steal" all our XRP. I'm not saying they will, but they can potentially.

Edited by tulo

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22 minutes ago, Xi195 said:

Who is arguing there are no plans to use XRP institutionally?

People who swallowed the innuendos hook, line and sinker. Observable in trollbox, reddit, bitcointalk and possibly every other crypto forum out there. Just drop into anyone of them and post a question if people there would think that banks have plans to use XRP. Simply reposting Ripple documents and citing how you don't see XRP/RCL mentioned at all, promotes Doubt and Uncertainly that it will be used at all. So this post seeks to dismiss that myth.

34 minutes ago, Xi195 said:

Do you think there's a possibility banks never put their hands directly on XRP?

What are the possibilities that banks or their market-making collaborations use another bridge currency? Which other blockchain offers a better fit for that job right now? Which other blockchain has a team behind it that are also experts with ILP? Which other blockchain has a team that the banks are familiar working with?

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9 minutes ago, tulo said:

Ha! It's not FUD...it's just bringing to the reality the chearleaders....and I probably have more XRP than you.

Oh! You make me so sad and jealous! I only have enough XRP for 2 beers. :sarcastic:
 

12 minutes ago, tulo said:

And since I'm a science guy I laugh at which "proofs" of "evidences" are brought on this forum every day by fanboy, useless journalist (probably not even real journalists but nowadays with internet anybody can become one) and ingnorant people (in the sense that they ingnore the facts). 

Oh dear science guy, perhaps you would read topics clearly next time before presenting invalid arguments, and then proceed to sidestep the replies.

 

13 minutes ago, tulo said:

It's also years they are talking about decentralization...we are still a joke of the cryptocommunity because RCL is centralized. And they are very right...ripple could generate more XRP or "steal" all our XRP. I'm not saying they will, but they can potentially.

Oh, patience, patience dear science boy! Perhaps you could donate a fraction your massive haul of XRP to run a validator and teach me how Ripple can generate more XRP. Clearly there is no FUD in your words. ^_^

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This document has an immense amount of data.  I'll need to fully review it before I give my final opinion, but I did want to make two obvious comments.

To those asking for account names/numbers for proof of transaction history...

1. One of the primary benefits of cryptocurrency is anonymity.  Once you let the rabbit out of the hat your every move can be tracked, traced, and commented on.  Asking for this is like asking for my home address.  I have one, but if you are asking for this solely to support your speculation and investments, why would I tell you?  Seems rather self serving.

2.  If major transactions were already here, you would know.  The volume would be evidence enough.  At this point I believe the ship would have sailed for early adopters and your proof would be there but the opportunity would be long gone.

This PowerPoint is making a business case.  This is proof of a business case - and that was all that was promised.  I cannot verify the authenticity, future execution, or timetable without further research.  Claiming this is hype or false evidence is also extreme; on the opposite side of the hype/anti-hype spectrum.  

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2 minutes ago, Roborovskii said:

Oh, patience, patience dear science boy! Perhaps you could donate a fraction your massive haul of XRP to run a validator and teach me how Ripple can generate more XRP. Clearly there is no FUD in your words. ^_^

No it it just knowledge and truth :)

I explain: Ripple owns ALL the validators that are actually validating the whole RCL network. If they decide to change the code of rippled saying for example that each transaction instead of removing the XRP fee, generates 10M XRP to my account THEY CAN DO IT! Whoa...what a magic....because it is centralized!

With this again I'm not saying they will, but they can, and it sucks.

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1 minute ago, tulo said:

No it it just knowledge and truth :)

I explain: Ripple owns ALL the validators that are actually validating the whole RCL network. If they decide to change the code of rippled saying for example that each transaction instead of removing the XRP fee, generates 10M XRP to my account THEY CAN DO IT! Whoa...what a magic....because it is centralized!

With this again I'm not saying they will, but they can, and it sucks.

Clearly again, your words have no FUD ^_^
Pardon my rudeness, I shall no longer reply to your posts as they are of no value.
Been a pleasure revealing your true nature. :good:

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Just now, Roborovskii said:

Clearly again, your words have no FUD ^_^
Pardon my rudeness, I shall no longer reply to your posts as they are of no value.
Been a pleasure revealing your true nature. :good:

No, mine are truths....your are false evidences! you don't see the difference? You are saying lies...I'm saying truth. 

Because the "evidence to dismiss the myth that banks won't use XRP" is exactly as saying "proof that banks will use XRP"....are you so sure to have that proof? I haven't seen any proof and an image of POSSIBLE future use is not proof! It's simple logic my friend...

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4 minutes ago, Dennis said:

1. One of the primary benefits of cryptocurrency is anonymity.  Once you let the rabbit out of the hat your every move can be tracked, traced, and commented on.  Asking for this is like asking for my home address.  I have one, but if you are asking for this solely to support your speculation and investments, why would I tell you?  Seems rather self serving.

Respectfully disagree. RCL is a public ledger with no option for anonymity. If you seek anonymity there are other solutions. I seem to recall transparency was once a key component of RCL for governments and FIs. 
 

5 minutes ago, Dennis said:

2.  If major transactions were already here, you would know.  The volume would be evidence enough.  At this point I believe the ship would have sailed for early adopters and your proof would be there but the opportunity would be long gone.

For instance, NBAD that has been using a never-before seen 'bi-lateral trustlines with no orderbooks' may transact trillions a day, and unless you know their issuing wallets, you wouldn't see a thing. 

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11 minutes ago, Graine said:

Respectfully disagree. RCL is a public ledger with no option for anonymity. If you seek anonymity there are other solutions. I seem to recall transparency was once a key component of RCL for governments and FIs. 

again why i keep pushing around here to get onboard the settlement wagon, and not get so bogged down with all the public/private and anonymous/traceable stuff... if it's going to be used primarily for settlement (i hope so!) which is what ripple seems to target, well then, there is only an xrp<-->xrp tx that takes place between two otherwise less/un-trusting parties, who prob don't mind the public immutable timestamp of the tx -- see it as a PLUS perhaps

then they can still do their private biz over ILP or wherever need be... i think of rcl as a public UTILITY that's perfect for audit trails and in situations of lower trust or high risk with foreign/domestic parties aka "settlement" being this primary target, because settlement is often (not always) bulk anyway, but is also something that requires public scrutiny in some circumstances

yes rcl has nice exchange system, you can issue IOUs... bla bla... but we all know where the Big Money be at, that's the private banking/settlement/clearing system and major corporates... and xrp to xrp doesn't reveal much if anything (correct me if i'm wrong) that's customer sensitive or privacy violating 

side note: another reason perhaps for off-market sales... so no bother for FIs having to reveal data by signing up for exchanges etc, mind you they'd prob outsource that anyway 

Edited by zerpdigger
aaaaaargh typos !

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49 minutes ago, Roborovskii said:

What are the possibilities that banks or their market-making collaborations use another bridge currency?

100%. The only bank apparently on RCL, NBAD, has issued OMR and EGP pending the request of those central banks. Also, despite Bitcoin's disadvantages to XRP it is being widely used for this purpose, even on RCL - see gsr.io. rGSRaLD7YRnJesPv4tc1CGHEyFa8hGYoma

49 minutes ago, Roborovskii said:

Which other blockchain offers a better fit for that job right now?

Who said it has to be another blockchain? You can create any IOU on RCL with all of the advantages of XRP except three 1. Limited counter-party risk (which could also be a disadvantage depending on the counter-party) 2. Requirement for transaction fees 3. Incentivized adoption. Point two advantage will disappear soon (according to Ripple) and technically another IOU on RCL could incentivize adoption though this would be difficult. RCL's  nature is the greatest competitor to XRP in my opinion. 

49 minutes ago, Roborovskii said:

Which other blockchain has a team behind it that are also experts with ILP? Which other blockchain has a team that the banks are familiar working with?

See last sentence above. 

Edited by Xi195

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