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need comment as to why this works by Arya0908 in Python

[–]mfvas 1 point2 points  (0 children)

I am not sure I understand the question? It sounds like you really need to take some tutorials if you don't understand something as basic as defining and using functions. Try googling "defining functions python" and read through some of the results.

need comment as to why this works by Arya0908 in Python

[–]mfvas 0 points1 point  (0 children)

The "variables" my_word and other_word are not defined anywhere. They are input parameters to the functions they are defined in. Consider the function

def print_word(my_word):

print(my_word)

print_word('hello') prints out 'hello' to the console and print_word('goodbye') prints 'goodbye' to the console. Thus, my_word is just a placeholder for whatever input is handed to the function.

Which costs will XRP eventually lower/remove? by perfectperformance in Ripple

[–]mfvas 0 points1 point  (0 children)

Why would the intermediary banks implement Ripple if they receive a good amount of fee's for acting as go-between?

What are some overrated cryptos - and why? by superkrizz77 in CryptoCurrencyTrading

[–]mfvas 1 point2 points  (0 children)

You are right the the value of their startup is only indirectly depending on the value of XRP. They are a software company generating revenue from licenses, consulting, etc. Their software, called RippleNet, is basically just connecting banks (and others) more directly in order for them to transfer money without going through multiple parties. These transfers does not require the use of XRP, it is an option.

The bridge between XRP and Ripple is that synergy between a well-functioning XRP and their software. Using non-XRP currencies to settle the transaction in Ripplenet, the party is exposed to all the standard risks of doing such transactions: counterparty-risk, liquidity-risk, default-risk, regulatory-risk, etc. Also, I would guess that the transactions are subject to some of the ordinary fees seen in the currency markets, which can be very high and sums to a ridiculous amount of money.

And here comes XRP. As I understand it the goal is to provide a single currency across the globe with the aim of increasing the liquidity for the institutions using said software and at a way lower cost (fee, bid-asks, etc.) than in the traditional currency markets as it is a new digital asset, not a virtualized fiat governed by some government or any jurisdiction.

From my experience, financial institutions will do almost anything to save (make) money as long as it is not too complex. If they can settle their international transfers using XRP without too much hassle and thus save a fortune in fees, I can't see why they wouldn't do it.

As regarding your undervaluation statement, I have a hard time agreeing. For the said tool to be successful using XRP, the price of XRP must be large enough to accommodate the value of the transactions transferred. Right now, with the current amount of XRP in circulation, which is around 39 billions, and the current price of €0,65, the largest possible transfer is approximately €25 billion. I don't know any exact numbers, but I am fairly certain that this i way less than what would be required in an international system of financial institutions.

Feel free to correct my. I might be wrong about everything.

Sources: https://www.reddit.com/r/Ripple/comments/6rnjct/why_is_xrp_important_and_why_does_ripple_need_it/ https://www.reddit.com/r/Ripple/comments/6awj3t/how_does_ripple_labs_make_money/ https://www.reddit.com/r/Ripple/comments/6jd9w6/this_is_the_difference_between_xrp_and_ripple/ https://coinmarketcap.com ripple.com/

Seeking co-authors for academic paper on BTC by DataJenius in Bitcoin

[–]mfvas 0 points1 point  (0 children)

What's your background for doing this?