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CME Group announces Royal Mint Gold (RMG)

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2 minutes ago, ElMoskito said:

Yeah that's not the first time we are disappointed. Remember Fidor, Zipzapp and all the others. :)

When should it be live? It's not in april anymore? It's my last hope...

I am also waiting desperately but i would not call it my last hope. Remember we r the members who did not panic when it was at .005 cents, now when it has gone up because more people are showing faith in it, if we shortsell ourselves, this could be.moment we will regret for rest of our lives. Ofcourse its not financial advice but in my opinion xrp is bigger than one bad news and i may be wrong but iwould not.sell it in panic.

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Guest dfault123

I don't understand the doom and gloom atmosphere here.

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1 hour ago, MrX said:

No. It's April 11. And this article is a huge strike on our hopes. :(

Absolute rubbish....and since when did you get given the authority to speak for the majority...?.

The article has no influence on or relevance to my hopes whatsoever...!! 

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25 minutes ago, ElMoskito said:

Can someone explain me why CME Group does not even support Ripple technology by implementing RMG on RCL?

CME is one of the biggest investor in Ripple and it does not even promote and use RCL...

Nobody to explain ?

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25 minutes ago, dfault123 said:

I don't understand the doom and gloom atmosphere here.

It's just a thread that contains people working together to create FUD.....which is a bit depressing but to be expected.

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2 minutes ago, Zen1 said:

It's just a thread that contains people working together to create FUD.....which is a bit depressing but to be expected.

I do not see any FUD here? When people start dreaming on a deal with RMG without any proof, one can say it's the opposite of FUD. Now that it seems to turn out different, I think it's logic that this wrong expectation becomes discussed here... And hé who says Prova has no plan to develop an ILP connection... and hopla ... here we go again...

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1 hour ago, MrX said:

Yep. No one wants to use Zerps.

As a model and a technical basis for Prova, the long-running distributed Bitcoin blockchain system is used as a basis. The initial implementation of prova is based on the btcd implementation.

https://github.com/BitGo/prova/blob/master/docs/architecture.md



Yes you are right. Bitgo has used bitcoin based core for blockchain ( minus mining and making all wallets multi-sign ) . Alphapoint has worked with bitgo to develop a trading platform. 

below is a screenshot i have seen : 

cme-rmg.png.91ceff7d799fef68e70b35cf66925b21.png

 


I still hope they use ripple for remittances. but until they release there surely is no guarantee, we can only speculate. as for the single blockchain used to represent single asset class - i second @cmbartley on his comment. this is very dramatic, i don't see any hopes lost, or anything....  things seem good to me... gold is moving to block-chain - especially government backed mint ... and there is a whole new trading platform to celebrate .... that is for once "mainstream" and not just a crypto exchange ... and there is every chance they will have to settle funds ( in USD / GBP / EUR .. etc ? ) .... 

this is where I am merely speculating they might use ripple solution, as they are the best in business for settlements.

we will see as it progresses. 

@PS : also i want to stress that not everything is open source - 'Only' Bitgo's block-chain implementation 'prova' and a very little other code is open source... everything else ( mainly what makes the exchange ) is closed. we will have to wait and see how they "Settle" fiat in this system.

 

 

Edited by R8102V1D2D

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XRP is going to take a while even if everything goes perfectly. There will be wins and losses. This is not even a loss, just a who cares. Almost the only thing that matters right now is building XRP volume on exchanges,  listing at more exchanges, and integrating/connecting exchanges and other crypto projects to build volume. Relax guys, Rome was not built in a day. Rebuilding the financial infrastructure from the ground up to include a new and novel type of asset class will take time. 

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There seems to be a lot of bitching and moaning here lately about Ripple's lack of communications on deals, progress, etc.  Let's not forget that there's most likely so much going on behind the scenes that can't be revealed, that I'm sure they'd love to report. 

Ripple isn't like other cryptos, which are basically startups dealing with other startups, looking for press any way they can get it.  Ripple is dealing with world class, established financial institutions that could give two shits about a press release on a partnership that is basically experimental trials of new technology and likely a future competitive advantage.

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