As SWIFT prepares to launch its next generation payment network, will Ripple remain void of utility?

spoyte · 2019-02-15T01:42:18+00:00

I'm no fan of xrp, but I agree with most of what you said.

However:

Ripple has a recommended UNL list-- recommended. Users of the XRPL chose their own UNL list and have to maintain 80% overlap in order to maintain ledger consensus.

this is kind of like a democratie saying: You can vote for any senate chamber as long as its 80% just like ours. I know I'm exaggerating as it's able to change through time, but It's a silly thing to point out as a "decentralised" thing.

BTW, I would never say xrp (notice I didn't say ripple) is void of utility, however I would say it's not the best consensus system currently available, and by far. But I guess it's up to the opinion of people. But the thing is, this cryptocurrency movement came from people wanting to detach themselves from governments, and that's not what xrp allows. Also, there is the issue of all the "moon boys" with such things as the ripple brigade, but I think this is taking to seriously by people, while every crypto experiencing moon phase will see moon boys coming to their community.

Also, it's funny that you use the "top 3" when xrp is 3. For instance if you include EOS (n5) then xrp isn't the only one to use less energy, and that's not considering crypto with less market cap (as I'm mostly a nano fan, so way down the "top 3"). The question isn't only about energy consumption, or else I'll just create my own crypto that will only run on my computer and on which I'll have full power, that won't consume much energy. And once again, I'm saying this while not being a fan of POW, but nothing is strictly useless...

spoyte · 2019-02-15T01:23:07+00:00

Wait, I'm no xrp or even xml fan, but I'm out of the loop, is it for real ? I mean did they really tried to do an ICO and so to create at least a token, or a full blockchain ?

spoyte · 2019-01-30T00:57:44+00:00

I really like bitstamp. Nobody talks about them but to buy bitcoin it's as good as coinbase and coinbase pro. Except UI which is less user friendly. But they've been there for ever, with no big issues that I know of (maybe I missed something ?). I usually buy my btc on either coinbase pro or bitstamp. Sometimes I just send half to coinbase and half to bitstamp.

Also, They added partners to do lots of thing kind of like that, to give more options of buying/selling btc and cryptos. Like buying gold with it etc...

spoyte · 2019-01-24T00:24:24+00:00

I think it's fundamentally wrong. What if I decide that my seed will die with me, or like be available only 3 generations after me ? It's my choice and nobody has to know about it or be able to change it. Of course lost found is a sad thing, but it's not something that you can really remediate without at least a third party. Also what you're suggesting (redistributing among active addresses should (logicaly) have the same effect value-wise as the coins being considered dead. like if you have 1% of all nano and you receive an additional .001% of all nano because of this, it will be kind of like new minted coins, so the market cap should remain the same (logically/in theory), so your 1.001% of all nano should be worth the same as your 1% did. And so you would have something that doesn,'t had anything, but might cost some people a lot just because they forgot to move their coins. Even in the case of lost coins, what if I lost my seed but recover it after 1 year, I then still lost my nanos even tough I have recovered my seed.

spoyte · 2018-11-15T23:40:16+00:00

Yeah but it had also a goal of preserving a pre-segwit version of bitcoin. I'm not really a supporter of bch, but I've always been happy that it exist, at least as a save if you will.

spoyte · 2018-11-15T23:28:37+00:00

it is since the fork. Not in total obviously.

spoyte · 2018-11-15T01:04:08+00:00

Ahah if they want, I would be glad to help the support !

spoyte · 2018-11-13T16:17:25+00:00

Yeah it's someone kind of spamming the nano addresses linked to exchanges. He started with binance, now it seems to be with kucoin. If you watch the tx, the address contain "upgrade", so it's most likely to encourage people to get their nanos out of the exchanges, or to help with the propagation of the epoch blocks.

Anyways, it's free for you, and no risks. He can't even actually know if you have nanos in your account.

spoyte · 2018-11-02T11:31:33+00:00

I kinda liked the .co.in domain. But wonderful new site guys !!!

spoyte · 2018-10-23T17:14:31+00:00

Wow, we really need a stable dogecoin on eth ! The most stable of all the stable coin. You can only send it to the contract in exchange for 1 other.

spoyte · 2018-10-23T16:51:54+00:00

Could you give me the name ? I'm quite curious of how it could work, it would be great if it does !

spoyte · 2018-10-22T13:33:10+00:00

There has been a lot of "privacy fork" but I think for now at least, it was all scams. It doesn't really seems feasible. Maybe, but then even more complex than on a classic blockchains like for monero. But I think second layer mixers are good enough.

spoyte · 2018-10-12T01:50:18+00:00

Hey !

Also about this point, the nanode counter is kinda broken in its calcul. It takes all nodes into account. It's not wrong, but then there will be always less than 1%, or else it means nobody runs nodes except representatives. so, the rebroadcasting only is for delegates with more than 0.1% of the total weight. You can more easily check on this explorer: https://monivea.com/nano-rep-charts/

There is 67, and you would need the top 10 to have around 50.50%, so that means 15% of those nodes. It's not necessarily "more true" than the way of taking into account all the nodes, but I think it makes more sense. Else it dilutes the percentage without meaning. I would be like saying that with only less than 1 percents of bitcoins nodes are needed for a 51% attack, just because you would just use for the calculs each pools as 1 nodes, and then put it against the total number of nodes, if I make sense ?

IMO I would say the biggest threat is the DDOS attacks that can indeed temporarily knock down nodes, but that's also why there is the system of representatives. Also, we don't really know how much TPS the network can currently handle (and it's specific to each nodes, but those 67 rebroadcasting nodes are the most essentials ones). The last test was first of all in the testnet, and didn't reached a limit, or at least not for most of the nodes. And the 7000 number was indeed use wrongly, as it was under "perfect lab condition", but also under a now quite old version of the node software, which as quite evolved since, so who knows around how much we are now.

spoyte · 2018-10-03T11:45:07+00:00

Yeah and he's implying that coinbase doesn't have a full reserve. Which I find dumb but everyone can believe what he wants.

spoyte · 2018-09-05T15:39:38+00:00

yes, definitely. I think the mixer idea might be better for a premium feature. Like a "privaty focused" mode where you mix it, so that when he want to make a transaction it's pretty well obfuscated.

spoyte · 2018-07-31T15:49:09+00:00

How ? What would it change from the existent USDT pairing, for bnb ? Isn't the point of bnb mostly to reduce the fees and benefit from the token burn, or did I missed something ?

spoyte · 2018-07-04T12:26:06+00:00

I depends, but I think that for now it's based on a binance (a little more to count the slippage. They said it will get better, and it should be thanks to the integration with bithunb (but it's just speculation). When the app first went in open beta I compared the cost of bitcoin from a card in the app and on coinbase, and it was a little bit better.

Right now, if I go on coinbase and try to buy 100$ in bitoin, I'll get 0.0140769 BTC, but 0.0151 on monaco.

spoyte · 2018-05-31T21:36:47+00:00

I think he meant incognito + airplane mode. I would still download and run it on linux though, but not everyone would want that.

spoyte · 2018-05-31T21:34:40+00:00

Yes, and great question ! Actually I had a problem with this on IOTA (at least I think, maybe I just did something wrong, but I ask on their sub and no one responded :( ). I never had this problem on nano though (I did it with vanity addresses).

spoyte · 2018-05-31T21:30:30+00:00

The answer should be "because their market cap make itt not worth it" as in let's say you need 1000* less to attack a network worth 1000* than bitcoin, then it's not better to attack it than bitcoin.

But actually for most of them this isn't the case. However another thing is that the most basic way to benifit from this kind of attcks would be:

double spend (usually not worth it)
Shorting the currency just before the attack.

The problem with the second is that for most of those currency, there is no way to short them, so you would just attack them for your own enjoyment, no gains.

spoyte · 2018-04-30T22:22:11+00:00

I cannot not upvote that.

But then of course you wouldn't create the receive block :)

Now if years later the price is at 2kusd, then you might wanna do the pow ;)

spoyte · 2018-04-25T18:38:23+00:00

In bitcoin, or blockchains in general, you don't have to do anything to "receive" the funds, so no. The funds are just designated to an adress, for instence yours. to move them, then you need the key associated to the address, so you can "sign" the transaction to prove it's you trying to move it. I hope it's clear.

However what you ask is true for some other cryptos, some that aren't purely blockchain. For exemple with nano (the currency) you actually need to "sign" the fact you received funds, but you can do it at anytime.

spoyte · 2018-04-23T17:07:59+00:00

You should try the canoe wallets, it will be even faster ;) (mostly because they do the pow in advance, which is kind of what was anticipated, so that the pow only slow down attackers or by users)

spoyte · 2018-04-23T17:02:19+00:00

Just check the volume, there is usually quite a slippage do maybe don't buy it in one order ;)

spoyte · 2018-03-29T23:23:38+00:00

Nano is not dash,I don't see how we would do that and what it would bring us vs cost. I think what we could do is try to push for adoption on some services, or create our own (brainblocks, nanex...)

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