Ripple (XRP)

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Ripple Discussion

stockvaper  Oct 14 2019 09:12
[b]XRP is not limitless.[/b] It just appears that way to those who are not aware of the mechanics of the ledger. [b]An Explanation of Ripple’s XRP Escrow[/b] "To provide additional predictability to the XRP supply, Ripple has locked 55 billion XRP (55% of the total possible supply) into a series of escrows. These escrows are on the ledger itself and the ledger mechanics, enforced by consensus, control the release of the XRP. [u]The escrow consists of independent on ledger escrows that release a total of one billion XRP each month over the next 55 months.[/u] [color=red]This provides an upper limit on the amount of new XRP that can be brought into circulation[/color]. The amount of XRP actually released into circulation will likely be much less than this. [b][u][color=red]Any additional XRP leftover each month will be placed into a new escrow to release in the first month in which no escrow currently releases.[/color][/u][/b] During the process of moving Ripple’s XRP into escrow, we also changed our account security model. The XRP Ledger supports a native multisign scheme and Ripple secured the accounts the escrows release into using this scheme. The multisignature scheme has numerous advantages over the schemes other ledgers use. For example, the signers or quorum can be changed without changing the receiving address. Individual signers can rotate their own credentials without disturbing the funds on the ledger." Thus there are no excess XRP. They have all been allocated. Did you read my post #8654? [b][u]XRP Holder Accumulation Is Growing Significantly[/u][/b]
stockvaper  Oct 13 2019 18:47
Blockchain Firm Ripple Fuses xRapid, xVia and xCurrent into RippleNet "Ripple, the blockchain firm behind crypto asset XRP, fused three of its services into features of its RippleNet offering. Industry news outlet CryptoNews reported the change in Ripple’s product offering on Oct. 9. [b]Little more than the names changed[/b] Per the report, a company’s spokesperson explained that now, “instead of buying xCurrent or xVia, customers will connect to RippleNet — on-premises or through the cloud — and instead of buying xRapid, clients will use On-Demand Liquidity.â€￾ The Ripple representative also said: “Other than the names of the product, very few things have changed and will not affect our customers.â€￾ [b]More than a software suite[/b] [color=red]The company reportedly believes that moving from a suite of services to offer a network to its customers is a natural evolution of its strategy due to the growth of its user base and development of its standard. He concluded: “RippleNet is more than just a suite of software.â€￾ [/color] As Cointelegraph reported yesterday, alluding to the spate of controversies that have beset the project, Ripple CEO, Brad Garlinghouse, argued that Ripple’s “transparency has opened us up to attack.â€￾ He said that there is a “bunch of misinformationâ€￾ out there, but claimed that this is in part because Ripple is “ten or a hundred times more transparent than anyone in the crypto community.â€￾ #Blockchain News #Ripple
GreedyAgorist  Oct 13 2019 15:44
Gotcha; my goal is to pay a million in taxes next year. : - ) On the other hand, I like to keep my Schedule D simple; hence my aversion to wash sales. So far, I have only been buying XRP, not selling. If Grayscale had a trust for it, like it does with BTC, ETC, and ETH*, then I could play it, even occasionally day trade it, in my Roth IRA. I did take advantage of Ripple’s interest in Moneygram by buying and selling options on MGI, sometimes even holding the stock; indeed I may get more “putâ€￾ to me next week. So far that has been the closest I have come to “trading XRPâ€￾ using a traditional broker. Meanwhile, I earn interest on my XRP, initiating six-month loans every 1st and 15th of the month with CredEarn. That will end up on a Schedule B. That is another point of government-generated annoyance: the fact that they raise the Social Security threshold every year, but the Schedule B requirement has not been raised from $1500. I would expect to meet that higher threshold—at least I would try—but still, the fact that COLA’s and inflation only apply some places sometimes is a reminder of how arbitrary it all is. They occasionally raise the IRA limits, yet education accounts for your kid are still stuck at 2k, which makes no sense, since inflation impacts higher education as much as anything. *Glad I did not touch that one when it came out ... ouch!
stockvaper  Oct 13 2019 14:14
[b]Ripple-Backed Web Monetization Platform Coil Now Supports XRP[/b] "Web monetization platform [b][i]Coil[/i][/b] now supports XRP payments in real time thanks to a partnership with payment gateway and XRP Ledger wallet provider GateHub. A news release published on Oct. 1 revealed that Coil users can now use GateHub to receive funds in XRP and convert them into euros, United States dollars, Bitcoin (BTC) and Ethereum (ETH). [b]Real-time micropayments for content creators[/b] Coil is a platform that provides an alternative method for creators to monetize their content online. As subscribing fans consume content, the platform uses an open API called Web Monetization to stream micropayments to creators instantaneously. The API is built on the Interledger Protocol, co-created by Stefan Thomas, Coil CEO and former Ripple chief technology officer. As Cointelegraph reported on Aug. 15, Ripple’s investment arm, Xpring, also participated in Coil’s $4 million seed round and provided a 1 billion XRP grant to the platform this August — worth roughly $265 million. Coil supports monetization for content creators across literary writing, journalism, music, photography and podcasts, charging content consumers a $5 monthly subscription fee to access the site. [b]A push for decentralized content monetization[/b] On Sept. 17, Coil and open-source browser Mozilla teamed up with Creative Commons — a nonprofit that provides free licenses for creators — to establish a $100 million grant program for web monetization. The program offers a series of $1,000 to $100,000 grants to developers and creators who support web monetization, with a plan to reserve the lion’s share of the funds for openly licensed software and content. Also in September, Ripple’s Xpring has acquired payments platform Logos Network to develop decentralized financial products and applications. #Blockchain News #Decentralization #Ripple
stockvaper  Oct 13 2019 13:53
[b]Ripple Pushing to Launch XRP in Trillion-Dollar Derivatives Market, Unveils New Xpring Investment[/b] "Ripple says its recent investment in Vega Protocol is designed to help spur adoption of XRP in the world of derivatives. Vega Protocol recently raised $5 million from a number of investment firms including Ripple’s Xpring in order to help build and roll out its decentralized derivatives platform. In a new blog post, Ripple’s director of strategic growth for Xpring, Vanessa Pestritto, says the San Francisco startup is focused on boosting adoption of decentralized finance, also known as DeFi. [color=blue] [i]“Exploring this developing industry requires building, partnering with and investing in great teams that are aligned with the future of finance. As we build out our own engineering team, Xpring will continue to engage with DeFi teams and communities to support the future of DeFi including the derivatives industry – a trillion-dollar market.â€￾[/color][/i] According to Pestritto, Ripple is aiming for its investment in Vega Protocol to lead to the launch of XRP on the platform. [i][color=blue]“This premise for collateralizing assets to work in an interoperable environment was most appealing as we explore new use cases for XRP and the future of decentralized finance. Vega’s vision to create an open and decentralized network will enable the freedom to trade and make capital markets broadly available. Vega will continue to build their network and explore opportunities to add other assets as collateral, including XRP.â€￾[/color][/i] Vega protocol says it’s testing the final version of its trading system, designed to give people a fully automated and decentralized way to trade derivatives. The Gibraltar-based company says it plans to release a public testnet soon, but has not revealed a target launch date for the official product."
GreedyAgorist  Oct 12 2019 22:48
Have been trading fiat for crypto all year. Occasionally I have traded it back, sometimes regretting doing that too soon, in the case of BTC (by way of GBTC), and sometimes regretting not doing enough of that sooner in the case of Ethereum Classic (by way of ETCG), although I did flip my latest averaging-down lot for a modest gain. (I will pay taxes on the Bitcoin, none on the ETC.) For XRP, it has been a one-way street, moving USD into Uphold $500 a day (for a limit of six days a month... once my funding bank clued me in to the bank regulations, that is—oops!). That was mostly to take advantage of the interest that could be earned from CredEarn, even while we wait for appreciation of XRP*. Those loans have six-month terms, so my first will mature November 1, making Tuesday the 15th the date I will add the last rung to complete my loan ladder... before starting all over again, rolling and adding to the rungs. I must admit, after front loading that ladder with XRP, I have thrown in a little Bitcoin Cash and Litecoin, and LBA (CredEarn’s own token), and sadly, counter to the original point of opening an account with Uphold, I have also been skipping the crypto’s altogether and just loaning out USD, since CredEarn has been offering 10% on that. ‘Too good to be trueâ€￾ finally materialized as “too good to lastâ€￾ as the 10% offered on USD will be cut in half after Tuesday. Note to Mindless Self: CredEarn is offering to bump the 9% they offer on XRP to 10% for the October 15 strike. That puts me at cross purposes, and makes me regret not yet setting up Plaid, which should speed up the transfers, and also increase my daily transfer limit to $2500 (which should be plenty). *MS has been my guru on that.
stockvaper  Oct 12 2019 18:11
[b]The Next Chapter of Xpring: The Open Platform for Money[/b] [img][/img] by Ethan Beard [b]Our Vision[/b] "At Ripple our vision is to enable the Internet of Value, a world where money moves as quickly and easily as information does today. This is at the center of everything we do - from building our global payments network for financial institutions, RippleNet, to establishing initiatives to support development and innovation in blockchain, like the University Blockchain Research Initiative (UBRI), and to Xpring. [b]Xpring[/b] We launched Xpring over a year ago to invest and partner to grow the XRP developer community. Since then we’ve partnered with over 20 companies and committed over $500M. But through that experience, we discovered that the developer community needs more to bring the Internet of Value to life. We know that payments are hard – the networks are closed and siloed; the protocols are proprietary; and the traditional payment rails are antiquated and slow. However, while blockchain and cryptocurrency can be transformative for payments, building with these technologies is often difficult and creates a barrier to adoption. [b]Xpring: the open platform for money[/b] Today we are announcing the next chapter for Xpring as a developer platform. Simply put, Xpring is designed to remove the pain of integrating money into apps - whether it’s US dollars, Philippine pesos, XRP, ETH or any currency. Xpring builds on open source, open protocols and open networks making easy for the 23 million developers worldwide to enable payments in their products and services. Xpring builds on open source, open protocols and open networks making easy for the 23 million developers worldwide to enable payments in their products and services. Xpring gives developers tools, services and programs to easily build with XRP and Interledger Protocol (ILP). XRP is one of the fastest, cheapest and most liquid methods for settlement. ILP is a standardized payment protocol that bridges the gap between any fiat or digital asset. Together they form a universal, ubiquitous way to move money. Today, Xpring is offering a new Xpring SDK to easily work with XRP/ILP in any programming language, and a variety of tools for development on XRP and ILP including an XRP Network Explorer, a new XRP Ledger Devnet, and a new Testnet for ILP. These are just the first of many developers tools and services that we plan on building. Xpring enables any type of payments and we’re particularly excited to see innovation in new use cases such as trading, micropayments for content, and gaming. While bringing money natively to the internet may seem like a subtle shift from where we are today, we believe a new, open infrastructure will not only better solve existing pain points but also introduce entirely new business models that are impossible to predict. [b]Open Source Projects[/b] In addition to building out our developer platform, we continue to be active contributors to open-source projects by working with and supporting the community and we are excited to be releasing a number of new features to the core XRP Ledger and Interledger projects. This includes support for deletable accounts on XRP Ledger, a new XRP API, a new reference ILP Rust implementation with support for settlement in XRP and ETH, and a new specification for easily writing new settlement engines for ILP. We also recently published some of our ideas for areas of development for the XRP Ledger, to engage the community in a dialog about how the XRP Ledger can continue to be the best blockchain for payments. The core of the internet runs on open-source software and we think money should work in the same way. [b]The XRP Community[/b] We know that building a platform that developers love doesn’t happen overnight. As stakeholders and participants in the XRP community, we are committed for the long haul. Only by growing the developer ecosystem around fast and low-cost payments technology will the real power of XRP and ILP will be realized. To this end, we are excited to welcome some new participants in the XRP developer community: Bitpay, a pioneer in processing crypto payment transactions will be adding XRP to their suite of products and wallet. Soon, you can use XRP for everyday purchases and paying bills at thousands of merchants like Microsoft and AT&T. BRD Wallet, one of the oldest and most popular cryptocurrency wallets will soon be enabling its users to hold, buy, sell, and send XRP to anyone in the world. Anchorage, the new standard for digital asset custody will support XRP for institutional customers. Chainalysis, the blockchain analysis company for exchanges, government agencies and financial institutions is adding support for the XRP Ledger to their service. Today kicks off the first of many updates and iterations that the team will be building in concert with our growing developer community, and we’re excited for what’s to come. We encourage you to take part in the open-source XRP Ledger and Interledger projects and build on Xpring to add money to your apps."
stockvaper  Oct 12 2019 18:00
([i]Educational[/i])[b]Fiat Currency: What It Is and Why It's Better Than a Gold Standard[/b] The value of money has to be has to be based on something of value. A fiat currency (or fiat money) is one example. Jason Hall [i]Updated: Sep 20, 2018 at 3:13PM This article was updated on Jan. 4, 2017[/i] "In God we trust. All others pay cash." --Anonymous "The most important thing about money is this: People need to be able to count on its value, and that value needs to be stable over time. For that reason, many countries have, over the past century, shifted to a fiat currency. But what exactly is fiat currency, and what makes it the best alternative? Let's take a closer look. [img][/img] Underpinning the value of money Fiat currency is legal tender whose value is backed by the government that issued it. The U.S. dollar is fiat money, as are the euro and many other major world currencies. This approach differs from money whose value is underpinned by some physical good such as gold or silver, called commodity money. The United States, for example, used a gold standard for most of the late 19th and early 20th century. A person could exchange U.S. currency -- as well as many public and even some private debts -- for gold as late as 1971. A fiat currency's value is underpinned by the strength of the government that issues it, not its worth in gold or silver. Why a fiat currency is better economic policy Here's a look at U.S. inflation since the beginning of the 20th century: US INFLATION RATE DATA BY YCHARTS. The most important aspect of a currency is the relative stability of its value. And while there are certainly more aspects to inflation than just the currency standard, it's a major factor in monetary policy and a government's ability to control the money supply. The U.S. dollar -- as well as many public and private debts -- could be converted into gold until the mid-1930s, and the U.S. dollar was tied to the value of gold until the early 1970s, when President Nixon completely severed the relationship between the U.S. dollar and gold. With the exception of the late 1970s' and early 1980s' oil crisis and recession, inflation has become much less volatile, and deflation hasn't been an issue. A key reason is U.S. monetary policy. Since the Federal Reserve has more flexibility to control supply and demand of currency, it is more able to limit the impact of major economic shocks, such as the financial crisis of 2008-2009. Many economists acknowledge that the government's ability to control the supply of currency played a major role in keeping the crisis -- easily the worst in 80 years -- from causing even greater harm to the American and global economy. What gold advocates ignore Those who advocate for a gold or similar standard often use the argument that fiat currencies aren't really "worth" anything, since there isn't anything tangible that underpins its value. That's really not a very accurate description of a fiat currency, versus a gold standard. Simply put, the value of any currency, whether a commodity or a fiat currency, is only relative to what people think it's worth. And gold hasn't exactly been stable or reliable in recent years: GOLD PRICE IN US DOLLARS DATA BY YCHARTS. What does that chart tell us? In times of uncertainty, people hoard gold. You can see it in the early '80s oil crisis and recession and the most recent financial crisis, when gold prices soared, only to fall sharply once the overall economic environment improved. This situation is largely what led Franklin D. Roosevelt to sever the convertibility of U.S. currency and debt into gold during the Great Depression. Under the gold standard (especially when currency could be converted to gold), hoarding gold had a direct impact on monetary flow, hurting commerce and exacerbating recessions. By severing the link between gold reserves and currency, the Federal Reserve is better able to combat major economic shocks to the economy. Think gold is a great investment? Historically, it really hasn't been: GOLD PRICE IN US DOLLARS DATA BY YCHARTS. The U.S. stock market has been a far superior long-term investment since Nixon severed the relationship between gold and the dollar in the 1970s. And since September 2012, gold has fallen 30%, while the S&P 500 has seen total returns of more than 77%. Stability is key It's fair to argue that the Federal Reserve's efforts to limit the impact of economic crisis could have unforeseen long-term effects, based on the additional money that has been put in circulation, versus a gold or silver standard that limits how much money circulates. The problem gets back to times of major economic crisis: When governments need tools to stop or reduce the harm, a commodity standard has historically had the opposite effect as people hoard it. By severing the tie between a commodity that people tend to hoard in times of crisis and the value and supply of money, a fiat currency is a better alternative, but only so long as those pulling the levers of monetary supply keep the balance between supply and demand stable. Here's the bottom line: Currency is a tool of trade. People tend to hoard gold and silver when things are uncertain, and that's harmful when it limits currency flows on a large scale. Removing the relationship between a currency and commodity doesn't create "worthless money." It simply keeps panic from causing greater economic harm in times of crisis when people hoard the underpinning of a commodity currency and stop the wheels of commerce. And that makes a fiat currency far better than a gold standard."
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