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Twarden

Seeking market making service

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Here is how pegged currency can help incubate an instrument. Let's say in case of silver, if a market study says there is demand on Ripple (...perhaps motivated by basket trading were metals are sought after as component),  then a pegged silver and gold ounce surrogate are brought onto Ripple by a Dai. Metal market making then consists of a very simple routine for a bot, placing buy order for metal to surrogate if the surrogate is slightly below the peg and sell when it's above. Such buy/sell walls are what keep the pegs tight and they are common in trading. Provided that the peg has a median around the true value and the stability of the surrogate is trusted, then it is "easy" to introduce silver and gold on Ripple, and the silver provider only runs a super simple bot and does not need to waste time on unsolvable trading problems....

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37 minutes ago, lucky said:

@yandel You sound like a broken record. Pegged currecies. XRP is doomed if it does not implement that. Etherium is the shit. Roger. Now move the needle please.

Yes, I'm somewhat pissed by recent developments....In first place, I thought of Ripple being a platform that goes with developments in crypto. However, I can't see that Ripple is moving forward from 2013. The big hope they seem to have is ILP, where they think it can outsource everything. App. two months ago the consensus by Ripple fanboys was how can Ethereum be bigger than Ripple? It is....Ethereum is a real platform on system level, and in my opinion the most interesting DAPP for Ethereum is the Dai (banking module). Here is a list of DAPP projects http://sebfor.com/ten-dapps-daos-and-projects-to-watch-out-for-in-2016/   Maker is very interesting for finances and when done in a regulated environment. It is not possible to do something comparable on Ripple without a smart contract platform. So why does Ripple has no response to smart contracts? Bitcoin is getting such a feature with Rootstock, and Ripple terminated Codius. I also don't like that there is no foundation/product manager for XRP. XRP has a market cap with a 3 digit million figure, and there is only a recent lame white paper, and on top a disastrouos interview given (articles/interviews are back-checked before approved)...CORDA, Hyperledger and the piece from Intel have no internal currency, so that's why I predict Ripple is following that trend and in effect depreciates XRP....I do believe that Ripple could succeed, but I can't see that they are top notch with relevant developments, and I can't see either that they are business marvels who know how to profit from hot air....Rootstock has a budget of ~$1M, and that will bring an Ethereum compatible processor for BTC. Ripple is likely to burn more XRP in giveaway orgies for nothing. Let alone if Ripple would know how to produce a news stream for XRP where they would announce some serious concepts, or have a partnership with some crypto companies in some other field, or a strategic partnership with Ethereum or their DAPP projects...Announcing the 47th bank that has accepted a brochure from Ripple means nothing....

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I've received some responses in private.  For those interested in providing liquidity to the services I develop and maintain, you can email my primary email at taylor AT xagate dot com.

yandel  and lucky can stop derailing my thread right about now.  ETH has absolutely NO KYC/AML support built into its ecosystem.  It will be heavily regulated shortly by Governments and its already crashing.  Get out of the crypto clearly in a bubble that has notably seen an increase in ponzi scheme smart contracts FFS.

@tomxcs Please lock this thread.

Edited by Twarden

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10 hours ago, yandel said:

Anyway, Ripple is not really a market place because the trading volume has no impact on markets (except for the house XRP). The problem for Ripple is getting competitive spreads and liquidity in the fiat space. This is basically a task of duplicating the markets from somewhere else.

I just found this forthcoming paper on their XRP site : 

Quote

CATALYZING COMPETITIVE FX MARKETS:

Ripple’s XRP Incentive for Market Makers
This paper introduces Ripple’s XRP incentive program for market makers who use XRP to offer tighter FX spreads.

... "tighter FX spreads"? Tighter than what? I'll be watching this page for developments. I might presume that tighter spreads will encourage liquidity, however I find a bigger problem in the gateway offering. Would you really "trust" your money at the top three gateways by volume... Ripple Fox, TokyoJPY, or Bitstamp? Hence, I certainly think a market making service should exist on the network to help the less popular (by trade volume) gateways get off their feet. 

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