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What happened to xSongs?


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Also because of the incentives within the ecosystem. XRP had/has none, mostly thanks to Ripple doing absolutely nothing as a "custodian" of XRP for years except use it for funding (and hence the lawsuit they are now in) and then scrambling to pretend there were other use cases and desperately trying to distribute XRP before it was too late (it was too late). 

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16 minutes ago, thinlyspread said:

Also because of the incentives within the ecosystem. XRP had/has none, mostly thanks to Ripple doing absolutely nothing as a "custodian" of XRP for years except use it for funding (and hence the lawsuit they are now in) and then scrambling to pretend there were other use cases and desperately trying to distribute XRP before it was too late (it was too late). 

Well, they gave 1B to Coil.. 

Is that project dead as well? 

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33 minutes ago, yxxyun said:

Best incentive is no incentive,  but they incentive MGI to use ODL? 

Best incentive for network validators is no incentive. Best incentive to kickstart a payment network is to reduce the bid/ask spread and increase traffic to the corridor.

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Marketing is what happened to it or the lack there of!!  Xsongs is a good idea, I use to be in the music biz as what would now be called an indie artist and did some producing also,  I know quiet a few up and coming young artist on the scene in the Midwest and people who produce and promote.  I am no longer doing anything musically but you know I still have my connections I built over the years.  Long story short "Nobody has heard of Xsongs!!" Period!!   Who were they marketing too or was there even an attempt to market at all???  It's kind of like saying you have this car that fly's but nobody has ever seen it leave your garage!!!!

Edited by RikkiTikki_is_Back
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3 hours ago, Kiwi said:

Well, they gave 1B to Coil.. 

Is that project dead as well? 

I tried it ona  few websites, found it mostly useless and annoying, and quit my subscription. 

If Coil is a genuine business (and I'm sure it is or will be), it shouldn't need subsidies in the form of free XRP from Ripple; it should be able to buy it and thus cost it, because it's just so darn useful and unique and special. But is it? We just don't know yet, because Ripple gives it away to ex-Ripple guys (nepotism) and pretends that's (1) decentralization and/or (2) distribution. It's not – this is the issue since 2012 of zero incentives/distribution policies built-in.

Is XRP is only truly useful at scale when it's free (i.e. through seniorage)? We won't know until we find at least one big business who uses/holds XRP that they actually bought at market cost, and that is solving a real-world problem (and not a fake crypto-world solution like defi, which is just tokens within tokens, yields of tokens, tokens all the way down).

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Also, re: Coil... are they going into the music biz? I think that's an interesting potential use case. Maybe. 

I know Cinnamon are taking on video. I wish them success with that. 

But I still don't see why you'd want to use on-chain payments (way too slow), and if you batch settle later, you can use any system, not just XRPL. Maybe there are efficiencies there (paychans?) but I doubt it, especially if you have to (1) buy XRP (!) and (2) hold it (volatility risks). 

Might as well do what exchanges do. It's a bespoke "centralized" system of millions of transactions a second, then you stack crypto transactions on top for withdrawals/deposits. 1,500 tps is a non-starter for serious payments throughput, and paychans defeats the entire point of real-time (and you might as well use ANY batch or offline system). 

So I don't quite see yet how XRP fits for nano-payments or streaming. Seems to me like it's better just to use a stablecoin on a fast chain like XRPL, or faster ones like Avalanche/Stellar/etc, or maybe an XRPL sidechain. 

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9 hours ago, thinlyspread said:

But I still don't see why you'd want to use on-chain payments (way too slow), and if you batch settle later, you can use any system, not just XRPL. Maybe there are efficiencies there (paychans?) but I doubt it, especially if you have to (1) buy XRP (!) and (2) hold it (volatility risks). 

You're right, that risk tolerance is absorbed by a dealer or market maker or specialist.

Time shifting the value/risk is the market Maker's job.

Paychan enables settlements as fast as systems are able to connect. So given an amount of value in a PayChan, TXs can go as fast as possible. 

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16 hours ago, thinlyspread said:

Also, re: Coil... are they going into the music biz? I think that's an interesting potential use case. Maybe. 

I know Cinnamon are taking on video. I wish them success with that. 

But I still don't see why you'd want to use on-chain payments (way too slow), and if you batch settle later, you can use any system, not just XRPL. Maybe there are efficiencies there (paychans?) but I doubt it, especially if you have to (1) buy XRP (!) and (2) hold it (volatility risks). 

Might as well do what exchanges do. It's a bespoke "centralized" system of millions of transactions a second, then you stack crypto transactions on top for withdrawals/deposits. 1,500 tps is a non-starter for serious payments throughput, and paychans defeats the entire point of real-time (and you might as well use ANY batch or offline system). 

So I don't quite see yet how XRP fits for nano-payments or streaming. Seems to me like it's better just to use a stablecoin on a fast chain like XRPL, or faster ones like Avalanche/Stellar/etc, or maybe an XRPL sidechain. 

I've been using Coil for a while now (both the old blog platform and when I migrated to my own site). The on chain payments are as fast as a normal XRP payment as long as the amount is above a certain threshold. But the user base isn't huge.  

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18 hours ago, KarmaCoverage said:

Paychan enables settlements as fast as systems are able to connect. So given an amount of value in a PayChan, TXs can go as fast as possible. 

Yeah I agree with the technical speed & convenience of paychans, but it doesn't get around the denominator problem IMO. I don't see millions of bloggers and artists wanting to get paid in XRP when they get their measly $50 for the week and by the time they go to claim it, it's now $20. The paychan is still settling in XRP, basically. That's my issue – even (especially?) with nano-transactions you need price stabilityand predictable cash flows. 

Since we can now make fiat travel as fast as XRP or faster, no reason one needs to go through the Rube Goldberg of XRP instead of using a stablecoin variant and removing the vol headaches. 

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