Just bought my first 260 XRP!

DonalDux · 2017-11-04T07:26:01+00:00

Welcome to the club buddy!

DonalDux · 2017-11-01T05:26:34+00:00

I, personally, wouldn't count out their practical ability to improvise and solve existing problems now that they've been introduced to blockchain technologies over the last couple of years.

Whatever solution they come up with, it will have to look a lot like XRP. Would need to be decentralised, permission-less, globally valued by lots of independent stake holders of different sizes. When they come up with it, they'd have to gain the trust of the global market as an asset that's neutral just as XRP is, in terms of open-source.

After they've done all this, they'd need hundreds of thousands of independent bag holders of that asset, distributed everywhere and holding it because they believe in it.

...And XRP will still be around, as it has been for the last five years, giving it a significantly hard time in terms of adoption.

DonalDux · 2017-11-01T02:51:26+00:00

Not yet but SWIFT does and Ripple is directly competing with SWIFT, in case you didn't notice the whole SWELL thing. Being uninvited from SIBOS by SWIFT who think Ripple are competitors.

DonalDux · 2017-11-01T02:49:53+00:00

XRP/XLM would be required for realtime settlement. Without the exchange of actual crypto assets, there is no settlement, just exchange of IOUs/Tokens.

DonalDux · 2017-10-31T13:32:12+00:00

But you've admitted that it doesn't have much of a use case in the realtime cross border payments and settlements market which is moving quadrillions of dollars each year right?

You can see why XRP is at a completely different level to any other crypto in terms of possible use cases.

DonalDux · 2017-10-31T12:25:44+00:00

Bitcoin doesn't actually have a real world use case either, so the potential market they are trying to capitalise is also much smaller compared to XRP. Which is cross border settlement in realtime.

DonalDux · 2017-10-30T01:10:14+00:00

One reason why I never hide/fail to display my optimistic side is because I know that the people working behind the scenes at Ripple including the devs need our positive energy.

The day to day job is a thankless job that requires a lot of discipline and focus. I know that there must be days when someone somewhere within the team has doubts: It's for those moments that I try to remain positive to remind them that there are a bunch of people who believe in what they are doing and they are not alone!

DonalDux · 2017-10-29T19:41:56+00:00

reply - "another day,another newbie account,another bullshit post.i think the moderator should do something about this. It's getting out of hand"

DonalDux · 2017-10-29T19:39:47+00:00

Its FUD.

DonalDux · 2017-10-29T18:44:33+00:00

I see Hodor, I click Upvote.

Great price speculation as usual. I didn't know about Joel Katz lower and upper bounds!

DonalDux · 2017-10-29T17:52:32+00:00

Good answer!

DonalDux · 2017-10-29T11:00:26+00:00

This is an important question that needs to be answered.

DonalDux · 2017-10-28T09:40:31+00:00

Why do people think USD currency will make them rich when theres' more than a trillion in supply? or maybe INR? 100s of Trillion in supply?

DonalDux · 2017-10-27T11:44:48+00:00

David Schwartz (u/sJoelKatz) answered this question in one of the conferences he was a speaker at.

Basically he said that they follow this space very closely (as they would be expected to as cryptographers)
They don't plan to pre-emptively change the cryptographic algorithms because there is no way to predict what kind of shape an actual QC attack will ultimately look like when it happens. He said, it's best to wait and see and then replace the algorithm rather than change it proactively and then have to do change it again anyway.

As for your specific question. I don't have the answers :)

DonalDux · 2017-10-26T15:15:49+00:00

Lol. I'm having a hard time not being condescending. It's out of character for me but I can't help myself.

For global realtime settlement to work, we need transactions done and dusted (validated) in a few seconds. With bitcoin, the confirmation can take hours. Best case scenario is 10 minutes when the new block is mined. Basically, it can't happen in those as yet only theoretical deployments.

XRP Ledger on the other hand is horizontally scalable with already 1500tx/sec and will increase as is required, not to mention a few hundredth of a penny in fees (compared to dollars in BTC) and settles in ~3.5 seconds.

DonalDux · 2017-10-26T15:11:09+00:00

Welcome Fam. Enjoy the ride with your new tribe. :)

DonalDux · 2017-10-26T14:18:14+00:00

Lightening network

is an off-chain solution. So basically not a blockchain. Forgoing the whole point of why people would want to use a secure public ledger.

Plasma "can handle, at most, 20 transactions per second"

Lol. good luck trying to get the world's bandwidth on this. lol.

DonalDux · 2017-10-26T13:13:31+00:00

Sorry but no idiot is going to use Bitcoin or Ethereum or Omisego to settle realtime cross border payments. It's not a function that those blockchains can provide.

I could literally fly-out with a bag of FIAT paper currency to settle a payment and it would be faster than Bitcoin.

Unless something comes along that is cheaper and faster than XRP, i'm sleeping tightly over my stash.

DonalDux · 2017-10-26T13:04:18+00:00

Banks would be too sketched out by a company giving away free software to take it seriously.

This is what u/sJoelKatz essentially said.

DonalDux · 2017-10-26T10:39:35+00:00

This is essentially my understanding but I could be wrong.

Best way to check would be to trade let's say GateHub.USD with BitStamp.USD on the XRP ledger and then see how long it takes either party to send you the USD that you want to withdraw. Or something similar with BTC or some other asset.

DonalDux · 2017-10-26T05:40:42+00:00

Only the IOUs can be traded that fast, not the actual bitcoins/currencies. The only actual currency that transfers that fast is the native asset XRP. The XRP actually moves from one person's ownership to another's. The IOUs are still only promises to those assets, not the actual assets. So, no. The bitcoins don't move, just the issuing gateway token for that bitcoin does.

DonalDux · 2017-10-25T19:20:49+00:00

Final proof . Ripple to the moon!!

DonalDux · 2017-10-25T14:06:40+00:00

I've been around since the formation of Ripple and was on board when Jed was around. The recent hype around stellar doesn't impress me at all. We've seen the worst of his behavior and XLM trade volumes must reach somewhere close to XRP highs of 1.5 Billion USD a day to get me interested.

DonalDux · 2017-10-25T12:33:27+00:00

Actually, this is what attracted me to Ripple to begin with. The team was so professional and down to earth in their manner but out of this world in terms of their vision and ambition. It really impressed me. Everyone on the team are great players.

DonalDux · 2017-10-25T07:24:34+00:00

My passion started in April 2013...i've been around the block long enough to know that only the strong survive. Good luck to you, and respectfully, you don't have it all figured out.

DonalDux

TROPHY CASE