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Catch me up on the world of Ripple


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I haven't been following Ripple or crypto in general in years, but I have been holding.

Is their anything going on on the ledger these days? Is there a simple way to access the exchange like there was within the old Ripple Wallet?

Is there anywhere I can put my XRPs to get interest or dividends?

Has ILP gotten any traction in the real world? Has Ripple got competitors for what they're trying to do with the ILP?

What else do I need to know about?

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Hey Brian ;)

Lots of stuff happened, but basically the same good old pump and dump, a bit of drama, and XRP still useless as all the other crypto.

PS: no way to get interests from XRP in decentralized way, many ways in a centralized way but I highly discourage them if your plan is to check again in months or years.

Edited by tulo
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46 minutes ago, brianwalden said:

Is there anywhere I can put my XRPs to get interest or dividends?

Nexo pays ~5% if you're willing to risk a "centralized" company. More if you buy their token.

47 minutes ago, brianwalden said:

What else do I need to know about?

Flare Networks. Only interesting thing going on right now IMO. Should (finally!) bring some liquidity to the XRP DEX. 

Ripple seem to be (re)pivoting to CBDCs on-DEX too, but they tried that years ago with banks/issuances and the gateway model was a total failure, so not sure why this would be any better but I guess we'll see in a few years. 

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You can get interest on XRP from AnchorUSD (2.3%), Bitrue (5.3%), Celsius (2.5%), Coinloan (4.2%), and Nexo (5.0%). All seem perfectly fine...though you should do some serious due diligence on AnchorUSD. Several pay higher if you hold a predetermined amount their respective coins. Some offer time timed deposits, flexible deposits or both. There are several others (eg Crypto.com), but they've paused until the SEC thingy is done. If u (or ur wife) have dual citizenship, then there are several more like YouHodler, Stormgain, etc. Only Celsius (NJ) and AnchorUSD(?) are in the U.S.

Edited by RobertHarpool
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The easiest way to realize a return on your investment is to be an active participant on the network. When I first joined the network I did the same as you. I bought in huge and thought if I sat on my pile I would become rich. This is a pipe dream and it devalued my bags to half of what I paid for. XRP wasn’t designed to be held, it's much too fast for that. So I’ve since changed my strategy of shorting XRP every time the price spikes and buying every time it’s price tanks. Now I’m an active user providing liquidity and transactions on the ledger like a good citizen of Ripplenet. Winning going up and winning going down. Since I've double my bags it’s a rinse wash and repeat until I reach 1 million XRP! Another secret around Ripple is: *Whispers* polysign shhh!

Edited by Scout
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Nice to see an old profile reappear. Did a bit of stalking and dug up this old thread:

Looks like 6 years later, we are still not far from Square 1.

As @thinlyspread says, the best thing coming is Flare Network and the ability to mint FXRP to earn Spark tokens. At least the XRP investment would pay off some dividends.

Edited by Troote
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10 minutes ago, brianwalden said:

I'm in the minority whose main interest is in uses for distributed ledger technology. I miss the good old days when people were trying to do crazy things with IOUs. But I can wait.

I'm still here. I have Options worked out, and that enables Indemnity Insurance, now Ripple offers XRP loans which reduces the cost of using XRP as a liquidity source.

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2 hours ago, KarmaCoverage said:

I'm still here. I have Options worked out, and that enables Indemnity Insurance, now Ripple offers XRP loans which reduces the cost of using XRP as a liquidity source.

Are you really offering insurance using Ripple? I know the concept has been around for awhile and you've put a lot of effort into it. But if you're really doing it, that's great.

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16 hours ago, brianwalden said:

After a quick look, Flare looks like it's kind of what what Codius was aiming for. Is Codius dead?

Yes. Codius didn't take off as many were sure it would and send the XRP price sky-high. The XRPL dev community seems to have died down apart from some exceptions.

There's basically only speculation. And I don't blame them. Ripple, R3, SBI, MGI, ... can bring way more volume than any small project or hobbyist (let's be honest: what volume do we expect from a tippingbot? Or coil subscription model? ... in comparison with these other huge markets). 

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13 hours ago, brianwalden said:

Are you really offering insurance using Ripple? I know the concept has been around for awhile and you've put a lot of effort into it. But if you're really doing it, that's great.

No, but now that Flare Network is getting up and running the KarmaCoverage methods can be built as a smart contract.

Plus, I have figured out how to do Options for XRP & IOUs on XRPL, managed by a Flare Smart Contract.. and once there is a robust market for Options, then I have figured out how to do a traditional indemnity insurance policy that could cover lost & stolen keys, or just about any type of peril.

The third way, and the only way currently being done is like the Nexus Mutual methods. https://nexusmutual.io/token-model.html 

I'm also out of the insurance business now, looking for something to work on XRPL/crypto related. Glad to see you back!

Edited by KarmaCoverage
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