The first new U.S. payment system in 40 years is coming - JP.Morgan

[Anonymous No.7048353]

G-g-guys, not a huge Ripple fan b-b-but this can easily be bigger then the fappening of Bitcoin if true.

https://www.jpmorgan.com/country/US/en/cib/treasury-services/real-value-real-time-payments

The first new U.S. payment system in 40 years is coming, and it aims to dramatically simplify processes from transaction initiation through to reconciliation.

Pivotal to this is the way Real-time Payments (RTP) combines immediate funds availability, settlement finality, instant confirmation, and integrated information flows—all in a payment made in seconds. Bringing together speed, data, and communication solves for longstanding challenges.

Combine the above with the fact that 15 JP execs were in Ripple's office in December.

How can this not be about XRP? Nothing else is able to do these things not even ETH.

[Anonymous No.7048386]

>>7048353
hello.

[Anonymous No.7048398]

Also this...

[Anonymous No.7048496]

Yeah, but who the fuck cares about ripple or what JP Morgan has to say?

[Anonymous No.7048596]

Were going to the moon

[Anonymous No.7048669]

>>7048353
TRTL can do it!

[Anonymous No.7048923]

Whats the daily volume of $ transactions a day in the US (payment systems)? If it's in the billions and xRapid is implemented then Ripple can easily go to $100+ r-r-right?

[Anonymous No.7049128]

[Anonymous No.7049151]

>>7048353
What stops these giant financial institutions from making their own coin and having complete control over it? what makes you so sure they will use ripple?

[Anonymous No.7049170]

[Anonymous No.7049201]

>>7049151
What stops them from building their own cars?
What stops them from writing their own operating system?

[Anonymous No.7049232]

/biz/ 2017:
> XRP will never be worth more than $1

[Ripple Fundamentals No.7049304]

[Performance]
-Ripple consistently handles 1,500 transactions per second, 24x7.
-Payment channels can process 10s of 1000s of transactions per second.

.
[Cost]
-A standard transaction costs just 0.00001 XRP.
-The cost is not paid to any party: it's irrevocably destroyed.

.
[Real-world use]
-5 institusions are currently using XRP (MoneyGram, Cuallix, FlashFX, IDT and MercuryFX).
-Many banks are currently using xCurrent. Since xRapid is cheaper (saves up to 60%) and provides final settlement, they are likely to transition to it.
-Bichip will use XRP in its RFID chips.
-A w3c standard that Ripple helped develop (and was demo'd by Microsoft) will be available in all major browsers, it'll facilitate paying with XRP.

.
[Economics]
-The supply is fixed.
-Unlike Bitcoin, there's no inflation. Bitcoin uses PoW which relies on inflation and/or high fees. Bitcoin requires $18M of net new $ flowing in just to maintain the price!!

.
[Security]
-Unlike Bitcoin, double-spending isn't possible. Bitmain (a Chinese company) can rollback Bitcoin's chain and bunkrupt the whole ecosystem.
-An attack could only stop new transactions temporarily. Participants would simply remove bad participants from their list

.
[Decentralisation]
-Each participant can run a validator and use his own list of validators.
-validators role is to agree on an order for new transactions
-10s of reputable public & private entities around the world are currently running validators (e.g., Microsoft, MIT, CGI, WorldLink, Bahnhof,..)
-Consensus for the order of new transactions requires a supermajority of 80%

.
[Incentives]
-XRP is a revenue source for Ripple Labs. This aligns its incentives with XRP hodlers. It uses the revenue to improve the tech and expand XRP's marketshare.
-Ripple Labs share is locked in 55 batches on the network. Only one batch can be unlocked per month. It would take them 5 years to unlock them all. XRP is sold only to long term investors (i.e., they can't dump).

[Anonymous No.7049311]

>>7049151
ripple IS the coin the giant financial institutions made

[Anonymous No.7049314]

>>7048353
I think JP Morgan is going to use blockchain technology, almost everyone will be in a few years, but that does not mean that anyone will be using the Ripple token, for financial use it's far to volatile a market, and they could just create their own tokens.

[Anonymous No.7049353]

Rather be poor than invest in a Kikecoin

[Anonymous No.7049389]

>>7049353
Poor it is!

[Anonymous No.7049429]

>>7049232
now THAT's some meme math right there
sign me the heck up for ripple

[Anonymous No.7049445]

>>7049353
Funny part is, those Jews you hate will get rich no matter what.

Your logic:
> grr, I hate those lousy rich Jews!
> I'm going to stay poor to spite them!

That'll show 'em, tiger!

[Anonymous No.7049470]

>>7049353
Go fuck yourself

[Anonymous No.7049514]

centralized scamcoin.
Ripple will never stay over $3, that would make ripple labs the most powerful organization in the world.

[Anonymous No.7049593]

>>7049514
> Google will never capture search, email, and online advertising
> Amazon will never dominate online retail
> Facebook will never take over whole social media market
> Apple will never be worth more than Microsoft

THAT WOULD MAKE THEM TOO POWERFUL

[Anonymous No.7049647]

>>7049514
Ah yes, the 5th law of physics, no company can be worth over a trillion dollars.

[Anonymous No.7049690]

>>7049593
the difference is google's source code is protected.
ripple already has a fork named stellar.
Banks aren't interested in holding XRP long term.

Why won't people switch to a competitor that didn't give themselves control of 90% of the supply?

[Anonymous No.7049726]

>>7049690
xrapid is not open source. xcurrent is not open source. xrp is open source.

[Anonymous No.7049740]

>>7049232
kek i see the retarded math you did there

[Anonymous No.7049766]

>>7049740
Prove it wrong if you can.

[Anonymous No.7049767]

>>7048353
This ignores the fact that XRP is eternally Crippled as all Banks uses the Ripple Protocol but NOT the Token

[Anonymous No.7049775]

>>7049726
xrapid = xrp. don't let anyone tell you otherwise.
if xrp was not necessary for xrapid, xrp would not exist.

[Anonymous No.7049779]

>>7049690
>what's network effect

if facebook open sources it code today, it would still be facebook. You think the reason FB hasn't been replaced is that know one figured out to code a clone? kek

[Anonymous No.7049794]

>>7049767
Strange that some of the largest banks in the world are asking about it then.

https://www.youtube.com/watch?v=Dkn8TpKDv7A

[Anonymous No.7049804]

>>7049775
xrapid is bank software that uses xrp. xrapid is not a token. xrp is a token.

you shouldn't need me to explain this.

[Anonymous No.7049810]

>>7049690
>>7049779
in case that wasn't clear, ripple is a network like facebook, like the internet.

google is a service

you can create your own internet or your own facebook, but you won't get anyone on board.

[Anonymous No.7049812]

>>7049779
oh shit i forgot the part where amazon already accepts ripple, we're fucked! and banks are jumping all over themselves to buy xrp!

[Anonymous No.7049821]

>>7049775
xRapid is the software sold to institutions that uses XRP on the ledger in order to provide liquidity for them.

[Anonymous No.7049845]

>>7049201
You know, the fact that they deal with money, not cars or software.

[Anonymous No.7049846]

>>7049812
Money transfer agencies and Corps are all interested in XRP.

World's largest banks are interested too.
See >>7049794

[Anonymous No.7049877]

>>7049804
none of what you said is news to me.
>>7049821
yes, tha'ts why for all intents and purposes, xrapid = xrp.

It's like saying the bitcoin wallet is not bitcoin. it's a pointless difference to point out when you're comparing currencies.

[Anonymous No.7049880]

>>7049845
What stops them from minting their own currency right now?

[Anonymous No.7049906]

>>7049877
xRapid is not a currency, it's closed-source software that provides interaction with the currency.
You either don't understand, or don't want to admit you're wrong in order to learn something new.
Either way, no one cares.

[Anonymous No.7049917]

>>7049812

2015 - Banks will never use Ripple. $XRP is dead. Sorry bag holders.

2016 - Bank announcements are just proof of concepts, they'll never go live. $XRP is dead.

2017 - Fine, 70+ banks are going live but they don't use $XRP. How come dumb bag holders don't get this?

2018 Jan - Fine, 5 institutions are using XRP, but not banks, Ripple is dead!!!
2018 Feb ...........?

[Anonymous No.7049937]

>>7049877
I just created 8 bitcoin wallets, since a bitcoin wallet is the same thing as bitcoin, do i now own 8 bitcoins?

[Anonymous No.7049944]

>>7049846
They are interested in the network NOT the Token
Why should they, seeing as they can issue THEIR own token under THEIR own control?

[Anonymous No.7049948]

>>7049917
> Fine, all the banks are using XRP and it's worth more than BTC now, but it'll never be the ONLY currency in the world.

[Anonymous No.7049949]

Sorry to burst your bubble but it's not ripple. https://www.theclearinghouse.org/press-room/in-the-news/20171114%20rtp%20first%20new%20core%20payments%20system

[Anonymous No.7049953]

>>7048496
This. Crypto is about taking money away from the banksters not about giving them more. If you support XRP you need to go back to your containment site
>>>/reddit/

[Anonymous No.7049966]

>>7049766
ripples/bitcoins
38739142811/16826237 = 2302
not 23

[Anonymous No.7049970]

>>7049937
whatever you guys are set on being pedantic.
apparently no one understands the benefits of oversimplification.
enjoy your shitcoin.

[Anonymous No.7049977]

>>7049944
They're interested in both, as you could easily find out if you wanted to.
Why would individual banks want to waste resources creating their own token, then convincing everyone else to use it?
You should ask why they aren't doing this now in a non-crypto context.
Why don't they print their own legal tender and ask the other banks to use it?

[Anonymous No.7049982]

>>7049949
>November 14, 2017

[Anonymous No.7050002]

>>7048353
JP Morgan and Bank of America already have their own blockchains, even patented the shit.

[Anonymous No.7050024]

>>7049970
Ill sell you my newly created bitcoin wallets for $500 each. what a steal!

[Anonymous No.7050025]

>>7049151
See>>7050002

[Anonymous No.7050038]

>>7049966
Did you completely miss the entire part about comparing BASE UNITS?
Go back and read it again, anon.
You're off by two orders of magnitude.

[Anonymous No.7050044]

>trade them my future world reserve currency for their digital good-goy shekels
Nah.

[Anonymous No.7050056]

>>7049970
You're set on not learning something.
Enjoy being ignorant and retarded!

[Anonymous No.7050061]

Enough about XRP unless you want Ford Taurus money.

If you’re down with ripple then fuck you.

[Anonymous No.7050075]

>>7050044
Ah, so you must already have XRP.

[Anonymous No.7050082]

>>7049232

kek, you mean $4.90 per xrp

[Anonymous No.7050089]

>>7050044
>s h a d i l a y
kek guides his chosen few, the virgin NEETs, to Lamboland. Praise him.

[Anonymous No.7050105]

>>7050082
Another anon who cannot into math.

[Anonymous No.7050168]

>>7050105

>derives unit conversion with respect to base units
>converts whole units using base unit conversion

[Anonymous No.7050174]

stop doing this gay ass "g-g-guys b-b-but" online stuttering shit. Makes you look like the biggest faggot on the fucking planet. And you wonder why you don't get pussy smfh

[Anonymous No.7050181]

>>7048496
>>7049953

Look morons who don't want to make money, yep that'll show those rich banksters, dying poor.

[Anonymous No.7050197]

>>7050174

[Anonymous No.7050198]

>>7048353
of USA chooses cRipple I will leave the country it's over

[Anonymous No.7050200]

>>7048353
We already knew the Jews love ripple. Shits a guaranteed moon and possible (getting more and more likely) Mars mission.

If you don't have a decent chunk invested at this point you're retarded. This may be the next BTC and there's actual evidence of that, not just shilling and speculation. Those guys that sold on the first dip are going to be flapping their arms off a 10 story building by the end of 2018.

[Anonymous No.7050209]

>>7050056
Electrum is the wallet that people use in order to send bitcoin.
Yet electrum never comes up in valuation discussions, and you don't get people saying "people only use electrum, they don't actually use bitcoin"

that's why I say xrapid = xrp. it's a simplification, but no one cares what the name of the software that uses xrp is. only if banks are buying xrp or not, right?

[Anonymous No.7050224]

Two of the largest online shopping malls in South Korea are going to allow users to pay with crypto (including XRP):

http://news.naver.com/main/read.nhn?mode=LSD&mid=shm&sid1=101&oid=001&aid=0009842891

[Anonymous No.7050252]

>>7050168
It's amazing you can't see your mistake.

[Anonymous No.7050274]

>>7048353
Yeah nigga. I've been investing heavily in ripple for a month, hope the payoff is big

[Anonymous No.7050304]

>>7050224
Good thing I read Korean.

[Anonymous No.7050332]

>>7050252
okay deluded retard

[Anonymous No.7050333]

>>7050209
Which company is selling Electrum to banks?

[Anonymous No.7050366]

I'm going to buy this only because of FOMO but I'm going to keep my expectations low because everyone I talk to says 'xrp is shit bro stay away from that coin'

[Anonymous No.7050368]

>>7050304
Good think you have Google Translate.

[Anonymous No.7050371]

>>7049353
HAHAHAHA stay poor goy, it'll definitely show us

[Anonymous No.7050399]

>>7050333
it would be a different story if banks were not buying xrapid, but only their other services.
but they're not, so i give zero fucks about meaningless distinctions.

[Anonymous No.7050405]

>>7049810
>you can create your own internet or your own facebook
are you 12?

[Anonymous No.7050407]

>>7050399
And we give zero fucks about your opinion.
Stay poor.

[Anonymous No.7050431]

Say what you want about ripple.
But no other coin do we hear about banks adopting it.

[Anonymous No.7050478]

THE ONE THING RIPPLE FANS CANNOT AND WILL NOT ANSWER: WHAT IS THE PURPOSE OF THE ACTUAL COIN? WHAT DOES THE ACTUAL COIN DO IN RIPPLES PROCESS? PLEASE ANSWER THIS.

[Anonymous No.7050482]

>>7049880
why dont you just make your own cryptocurrency anon?
good luck trying to get everyone to use it

[Anonymous No.7050558]

>>7049151
What is counterparty risk? Why will PNC Bank and your local credit union trust Wells-Fargo-Coin over XRP?

[Anonymous No.7050568]

>>7050478
Instant cross border SETTLEMENT without the use of nostro accounts.

[Anonymous No.7050624]

>>7049690
XLM is not XRP fork. Dummy.

[Anonymous No.7050658]

>>7050568
This. Ripple has potential because the fucking Jews are willing to back that shit. buy XRP and use their kike tactics against them

[Anonymous No.7050677]

>>7050482
Bingo.

[Anonymous No.7050697]

>>7050478
https://ripple.com/insights/much-ado-much-to-do-part-3/

>In its end state, here is how xRapid will work:

>Financial institutions or corporations will initiate a payment through xRapid.
xRapid sources the most competitive liquidity option across all of the exchanges and third-party market makers it connects.
>Whichever market maker offers the tightest spread takes the sending currency, trades it into XRP, transfers the XRP to the destination (in just a few seconds), trades it into the destination currency and then settles it in the destination account.
>This end-to-end flow is instant, seamless and enables FIs to service cross-border payments on an on-demand basis — no more trapped working capital or expensive FX services!

[Anonymous No.7050750]

I have over $7000 invested in Ripple.

Put your money where your mouth is!

[Anonymous No.7050751]

Had forgot I saved this.

[Anonymous No.7050760]

>>7050624
Bullshit peddled by Jed to distance themselves as copying Ripple.
The only difference is some tweaks to the consensus mechanism, which effectively is meaningless to end users.
tps is still 1500.
Supply is still the same.
validator tech is the same.
tx speed is the same.

is verge not a fork of dogecoin because they made changes? no, it's called a fork of dogecoin because that's where it originated. doesn't matter they made changes later.

[Anonymous No.7050778]

>>7050478
Now let's see if king mouth breather will admit he's an idiot.
>>7050568
>>7050697

[Anonymous No.7050796]

it's a private blockchain you mongoloids

christ you fuckers can't even get more retarded

[Anonymous No.7050806]

>>7050751
> Old homeless guy doesn't want Ripple

[Anonymous No.7050863]

>>7050796
> Open-source codebase
https://github.com/ripple/rippled

> Multiple companies/institutions running validator nodes

> Ripple's stated 2018 goal is to remove one of their own validators for every two third-party validators added

> MUH PRIVATE BLOCKCHAIN
> MUH CENTRALIZED SCAMCOIN

[Anonymous No.7050864]

>>7049949
well well more complete bs from ripple about banking what a surprise scamcoin

[Anonymous No.7050898]

>>7050760
They're both shitcoins.

[Anonymous No.7050937]

>>7050863
>third-party validators

[Anonymous No.7050942]

>>7050366

Always do the opposite of what /biz/ says

I bought ripple at 20 cents instead of chainlink and it was the right choice. Because biz hates ripple so much means you should buy some.

[Anonymous No.7050962]

>>7050937
> meme image
> no argument
/biz/tard confirmed.

[Anonymous No.7051009]

It amazes me that /biz/ still isn’t able to see the biggest challenge and at he same time biggest chance crypto will have to face in 2018:
Like it or not, but it will be REGULATION. And it won’t be pretty in the beginning.

Ripple were one of the few that always tried to keep connected to those being in charge of regulations. Once the government has installed itself in this space, what crypto do you think will they prefer.

Alone the fact that xrp still remains the most hated coin on /biz/ should all of you give a clear hint of what you should do ffs

[Anonymous No.7051028]

>>7048923
It's in the tens of $Trillions. Google things like "daily forex volume world" "daily stock market volume world" "daily bond market volume world" "daily commodities market volume world".

[Anonymous No.7051030]

cross em out boys

[Anonymous No.7051057]

>>7048353
>if true.

not true
typical ripple bs

[Anonymous No.7051064]

>>7050863
you're seriously fucked in the head if you unironically think jp morgan is using XRP

[Anonymous No.7051073]

>>7049311
THIS. ONLY THIS.

Take your time JP Morgan. I need to buy more.

[Anonymous No.7051090]

>>7051028
Ah right, thanks for that one

[Anonymous No.7051105]

>>7051009

Pfft. Ripple only has on their team:
> Presidential advisors
> Crypto regulators
> Prize-winning economists
> Corporate leaders
> Former heads of major banks
> Ex-central bankers
> Top-tier NSA coding wizards

It's not like they have the Pope on board or something.

Fucking scamcoin.

[Anonymous No.7051110]

>>7051009
kys its a niggercoin scam that was BTFO by a NYT journo on twitter for having no actual evidence of bank deals the response from ripple being pathetic autistic screeching

[Anonymous No.7051122]

>>7051064
No one knows if they will. It's a rumor.

[Anonymous No.7051148]

>>7051110
> unironically believing NYT "journalists" in 2018

[Anonymous No.7051163]

>>7051122
I work for a major bank and if my employer or one of its competitors adopts a crypto that isn't a private blockchain, I'll cut off my dick and eat it on livestream in a /biz/ thread

screen cap this, really

[Anonymous No.7051168]

>>7050181
How will exchanging a deflationary currency for an inflationary one make me richer

[Anonymous No.7051179]

>>7051163
Prove it or gtfo. Being a teller doesn't count.

[Anonymous No.7051190]

>>7049128
>28 posts by this I'd
Just how much skin do you have in e-shekels?

[Anonymous No.7051210]

>>7051168
XRP is deflationary. Small amounts are burned away in every transaction.

[Anonymous No.7051235]

>>7051190
I invested years ago.

[Anonymous No.7051273]

>>7051163
Put spiciest chilli on it

[Anonymous No.7051284]

>>7048353
Stop tricking kids.

Banks will never use a public ledger, they will operate their own private ledgers.

[Anonymous No.7051322]

>>7051179
I'm not going to endanger my 6-figure analyst career to prove something to a fucking ripplet, you're just going to have to believe me

[Anonymous No.7051331]

>>7051284
Too bad they're already using Ripple's public ledger and are now asking about XRP.

[Anonymous No.7051335]

>>7051284
>Stop tricking niggers

ftfy

[Anonymous No.7051355]

>>7051331
Swift transactions are public too, right?

[Anonymous No.7051357]

>>7051322
LARP confirmed.

[Anonymous No.7051372]

>>7051331
>Too bad they're already using Ripple's public ledger and are now asking about XRP.

too bad xrp are fucking liars on that and got publicly shredded by a new York times journalist for it

[Anonymous No.7051380]

>>7051355
Are you defeating your own argument?

[Anonymous No.7051405]

>>7051372
> unironically believing the NYT

[Anonymous No.7051434]

>>7051380
Kek

[Anonymous No.7051454]

>>7048353

"not a huge Ripple fan b-b-but" you're here shilling it

shame on you OP

[Anonymous No.7051479]

>>7051434
MoneyGram also.
Two others were recently announced as well.
Major banks asking about XRP as well.

[Anonymous No.7051493]

>>7051479

[Anonymous No.7051527]

>>7051493
> unironically believing a single source who is obviously FUDing XRP

/biz/ tier research skills

[Anonymous No.7051561]

>>7051454
Well you don't have to be a ''huge fan'' of something do you? I shared it because I'm interested in the financial gains that XRP can bring and so that others alike on this board can have the opportunity too, buy the rumour sell the news. There's money to be made

[Anonymous No.7051571]

>>7051527
>FUD

Kek

[Anonymous No.7051581]

> No one is using XRP

[Anonymous No.7051603]

>>7051571
up 25000% in 12 month.

down about 50% from ATH like every other coin.

[Anonymous No.7051616]

>>7051571
Scroll back a couple years and you'll see where I bought
> kek

[Anonymous No.7051635]

>>7049353
Friend we must join the jew to defeat him

[Anonymous No.7051640]

>>7051163
You must not know much about your job Anon, by using a public ledger, banks can asymmetrically both have more sway over something "decentralized" as long as there are no safe gaurds against doing so while also using the decentralized nature to use others' labor for their own gain.

[Anonymous No.7051650]

>>7051616
It’s going back to where you bought it at.

[Anonymous No.7051658]

>>7049944
xrapid is cheaper to use than xcurrent. xrapid can only be used with xrp, 2+2

[Anonymous No.7051660]

>>7051650
I hope so. I'll buy a lot more.

[Anonymous No.7051684]

>>7049151

Thanks for asking all the right questions. The truth is sadly yes this will be the exact situation we find ourselves in the future. Our entire "crypto market" is just a giant commune of hippies essentially all fucking off sending capital over new, great, but OPEN SOURCE, technologies.

What's the first fucking thing you hear on episodes of shark tank where the investor likes the idea? "I can do this myself..."

Essentially the true crypto adaptation will occur entirely in private sector areas and also will entirely be built and sold by private sector companies.. meanwhile all of us fucking idiots think we are making some huge future wave in currency and economics, we are absolutely right but just in the absolutely wrong ways.

Do you honestly think these Jews and wealthy fucks would actually try to simply participate and truthfully integrate in a free open source group of techologies like this and not take it over for themselves? Once they have their fun and make their profits pumping and dumping this goldrush wild west of a market, they will then finally implement their own private chains and consensus methods leaving us all in the dust. And I'm not talking wealthy like your rich uncle wealthy, the people doing this have wealth you could never imagine.

One example, look at what systems the swedish banks and associated banking ledger technologies are using, it's not fucking xrp or any other "open source" chain.

Here's another example, go look into hash graph. Oh wow big surprise the fastest consensus tech known to man and it's patented.... And has no coins!? There's quite literally ZERO REAL USE for 99% of these current "coins/tokens" available in our market. In the next 10 years the shit will all be phased out, while privately bring phased in on the backend. With maybe one or two public chains left up running with some value for things such as government voting etc.

[Anonymous No.7051725]

>>7051660
H&S target: 0

[Anonymous No.7051762]

if XRP wasn't a serious a competition to all cryptos, you wouldn't have people attacking it 24/7. They are threatened. They know XRP can make their bags worthless.

This hate tells you another thing: it's underbought. All the haters will eventually submit to XRP.


upcoming bullish events:
>Robinhood listing
>Coinsquare listing
>Uphold listing
>Coinbase listing (probably - pic related)

[Anonymous No.7051793]

>>7051660

profit wise, xrp was a buy under 10 cents, but over $1 doesn't even make sense

[Anonymous No.7051795]

>>7051561
this. we are here to meme and make money, only the normies still 'believe' in projects, our only job now is to exploit those delusions for personal gain. if you are emotionally attached to our imaginary internet money you were the normie and will be the victim.

[Anonymous No.7051798]

>>7051725
Nice meme lines.

[Anonymous No.7051827]

>>7051793
That's what people were saying at $0.10 as well.

[Anonymous No.7051851]

>>7051725
hahahahahha
i hate you fucking ta retards

[Anonymous No.7051874]

>>7051581

And? These are? A bunch of fucking nothing.

Wow MoneyGram is "testing" a pilot system holy shit!

[Anonymous No.7051876]

>>7051357
you wish m8. you really are retarded if you think any fortune 50 tier companies will use a public blockchain.

[Anonymous No.7051899]

>>7051874
> 2nd largest global money transfer firm
> fucking nothing

Also, that's the first one they announced.
They've confirmed 3 of the top 5 global money transfer firms are signed on to use XRP.

:)

[Anonymous No.7051931]

>>7051876
Bad LARP confirmed.

[Anonymous No.7051953]

>>7051899
yes

[Anonymous No.7051963]

>>7051899
You mean ripple, not xrp. How the fuck are people still not understanding this? I guess you get emotionally attached to an investment when your a broke bitch bagholder @ $3.00 dreaming of any hope of profit.

[Anonymous No.7051995]

>>7051963
Nope. They're using XRP.
See >>7051953

Like I said before, I bought years ago.
Nowhere close to $3.

Stay salty!
:)

[Anonymous No.7051996]

>>7051963
It’s literally a worthless coin that is going to 0. Don’t worry about them.

[Anonymous No.7052010]

>>7051953

Holy shit good thing that unbiased source confirmed ripple will be used by major bank institutions. Ripple partnership with MoneyGram is great, but your not going to be seeing them integrate the xrp token that you bagholders own in your lifetime, sorry.

[Anonymous No.7052034]

>>7052010
Lmao, the FUDers are getting more and more pathetic.
Can't wait to hear them cry at the end of 2018.

[Anonymous No.7052035]

>>7051963
Ripple literally mentioned that MoneyGram is testing ''XRP'' in their tweet...

[Anonymous No.7052050]

>>7052010
I can feel your fear and desperation.

Which bags are you holding? bcash? ether? stellar?

[Anonymous No.7052116]

>>7052010

What a moronic statement. You don't pilot something unless you see a potential future in it, dumbass.

[Anonymous No.7052172]

>>7052010
You realize the fact that you so passionately protest XRP it makes it pretty obvious you don't know what you're talking about right?

[Anonymous No.7052191]

>>7051963

Why are you XRP haters so brazenly fucking stupid? I shit you not, every single time I read one of you anti-ripple fucks not a goddamn one of you has any idea what you're talking about.

Moneygram is running a pilot USING XRP. It would take you all of 3 fucking seconds on Google to confirm this you fantastic fucking retard.

[Anonymous No.7052241]

>>7051684
>This world wide web thing will never catch on. It's too complicated. We're going to see the continuing success of online services like compuserve and AOL...

[Anonymous No.7052315]

All people should hold at least 1% of their portfolio in XRP. If it is adopted by the banking industry, it will spread to all major corporations and then the public. Easy 500x and it will make up for any losses in decentralized shitcoins.

[Anonymous No.7052399]

>>7052034
>49 posts by this id
I really hope you're being paid for this.

[Anonymous No.7052463]

>>7051616
Keep shilling. You're doing God's work. People like you helped me make one of the best financial decisions of my life.

[Anonymous No.7052473]

>>7052399
XRP has paid me very well so far :)

[Anonymous No.7052504]

>>7052463
Thanks, anon. That's what I hope to do.

There are so many clueless FUDers that most of their "arguments" can be defeated by a single google search or basic logic.

It's all still speculative, but it's not unfounded speculation.

[Anonymous No.7052515]

>>7048353
The whole article talks about their inhouse solution and only uses the word ripple twice and they're talking about ripples not the shitcoin

[Anonymous No.7052518]

>>7052191
Who cares?

So what if xrp does 2x 3x, so the fuck what.

It will not get you out of the current shithole any of you may be in rn. There’s so many other options to make better money while not supporting scheming centralization fuckheads.

[Anonymous No.7052603]

>>7052518
>So what if xrp does 2x 3x,

it will do much more. bitcoin's market cap is not the ceiling. Ripple speaks to an industry worth trillions of dollars and it will suck money from all other cryptos when regulations hit them hard.

Anyone who doesn't hold some XRP is retarded.

[Anonymous No.7052609]

>>7052518

>scheming centralization fuckheads

Oh you're one of those "muh cryptos are gonna beat the banks" retards aren't you?

[Anonymous No.7052709]

>>7051684
>>7052241

It’s true he’s actually right. The whole BTC Bcash fiasco proves that humans need governance to succeed. A truly decentralized network is a complete clusterfuck to leave in the hands of people and their fickle ways.

Maybe MAYBE some of the bigger ones will be implemented in some ways. But we’ve seen articles of banks deciding to create their own blockchains. Why in the fuck would they want some shitty fags network that’s being pumped and dumped by pajeets and whales?

You’re deluded to think that any of these will be implemented in the world. Again, maybe a select few, but for the most part, this will be controlled and owned privately.

Anyone reading this should feel lucky that you’ve stumbled upon a gold mine, but make a plan to cash out along the way.

[Anonymous No.7052755]

Lol good luck with your xrp shit coin that banks won’t use. They will create their own. Lmao fuck off cripple poorfags

[Anonymous No.7052786]

>>7048353
are you sure it wont be a fork of ripple? or like corda R3?

Why would you think they need a volatile currency to make payments?

[Anonymous No.7052813]

>>7052755
banks and mortgage lenders are already using a no-coin crypto. its called Corda R3

[Anonymous No.7052835]

>>7052755

>They will create their own.

Do tell how JP Morgan will convince Bank Of America, one of their largest competitors, to use a coin they created?

Don't worry, I don't actually expect an answer. It's not like most people on biz have a fucking clue as to how real world business actually operates.

[Anonymous No.7052875]

>>7052786

>Why would you think they need a volatile currency to make payments?

Name me a currency that isn't volatile.

Go on, do it.

[Anonymous No.7052898]

Lol it's so fucking hilarious that you people never figured it out. The bankers used ripple as a distraction so they could shadow fork it to chainlink without giving you autists a slice of the pie.

[Anonymous No.7052917]

>>7052875
R3 corda.

Quorum (jp morgans own crypto)

[Anonymous No.7052923]

>>7052835
An elaborate form of third party tokens that they can trade for each other's tokens duh like a Rube Goldbergian clearing house because banks are evil and stupid and can't at all plan for the future. Listen to Ripple hating Anon, he's obviously brilliant.

[Anonymous No.7052968]

>>7052875
name me a storm that isn't volatile.

that doesn't mean I conflate a drizzle with a hurricane.

you are either evil or jack dempsey dumb.

[Anonymous No.7052992]

>>7052917

Can you provide evidence that these are not volatile assets?

[Anonymous No.7052995]

>>7052786
because people like money

and xRapid (which uses XRP) saves a lot of money

JP Morgan might not use XRP, but others do.

[Anonymous No.7053014]

>>7052968
Further, remember that one of XRP's main use cases is to function as a bridge between other currencies. Volatility doesn't matter much if you only have to hold an asset for 10 seconds.

[Anonymous No.7053031]

>>7052968

Whether it's a drizzle or a hurricane is irrelevant - it's all handled by market makers.

Every time one of you dumbasses brings up "volatility" it just re-enforces how ignorant you are of how the financial world operates.

[Anonymous No.7053043]

>>7052995
explanation if anyone is interested:
https://ripple.com/insights/ripple-and-xrp-can-cut-banks-global-settlement-costs-up-to-60-percent/

[Anonymous No.7053110]

>>7052995
yeah, jp morgan are creating their own called Quorum

[Anonymous No.7053156]

>>7053110
different product

Quorum does not do cross boarder payments

[Anonymous No.7053218]

>>7051163
There's no market for a private block chain. So you're just trusting that the other bank has their shit together. On an open one you can sell to the market and the transaction is solid. If you really make six figures your bank should fire you immediately. You have bird shit for brains and your a waste of a salary. There's a difference between a ledger and actual settlement. Holy fuck people are dense.

[Anonymous No.7053299]

>>7053156
>JPM will use xrp

Already has their own blockchain.

Kek

[Anonymous No.7053366]

>>7052709
XRP and XMR will be the last 2 standing. XRP does everything excellently except for privacy. XRP for the lawful economy. XMR for the criminal economy.

[Anonymous No.7053437]

>>7053366
This guy gets it.

I'm heavily invested in Monero for that reason.

[Anonymous No.7053462]

>>7053437
in addition to XRP of course.

[Anonymous No.7053466]

JP Morgan is working on their own blockchain and have been for a few years now.

[Anonymous No.7053511]

>>7053466
Quorum is a different product, it's not for payments. It's based off Ethereum. Meant for smart contracts shit, not cross-border payments.

[Anonymous No.7053568]

>>7053511
It will be interesting to see what Ripple does with Codius, their smart contracts platform.
They dusted it off and announced they have big things planned for it in 2018.
What's nice is it's all javascript, so programmers don't have to learn yet another language to create contracts, which is the case with ETH.

[Anonymous No.7053635]

>>7053511
What?

[Anonymous No.7053785]

>>7053511
There is room for both Quorum and Ripple just different implementations. In the end it doesn't have to be one or the other

[Anonymous No.7053927]

>>7053785
>There is room for both Steam and Origin just different implementations. In the end it doesn't have to be one or the other

[Anonymous No.7054296]

>>7051210
Oh and the miners control the supply, right

[Anonymous No.7054385]

>>7049647

Kek

[Anonymous No.7054415]

>>7049953
lel you delusional fucktards.
Who do you think desperately put money into everything during the investment crisis when liquidity provided by the central banks was off the richta but usual investment vehicles were saturated?
All those elites bought in long before you cryptoclowns made your first 50 neetbux in internet playmoney.

[Anonymous No.7054433]

>>7052315
Smart advice anon

[Anonymous No.7054582]

IS ANYONE HERE ON BITTREX?

[Anonymous No.7054584]

>>7053366

You're right about XMR but if you're correct about XRP replacing everything else and the coin market is dead then XMR will go back to what it and BTC was years ago when they were only used for black market purchases on the internet so there is really no point in holding it as a failsafe. Yes it will still be used and actually hold some value but not enough to worth hedging your bets solely if the whole crypto market collapses.

[Anonymous No.7054638]

>>7054582
I am, why?

[Anonymous No.7054767]

It’s funny how people tend to forget that all the real big banks who are connected to Swift aren’t even remotely interested in Ripple. They do want to implement blockchain tech, and that’s why Swift is working on Hyperledger. Their own fucking blockchain.

[Anonymous No.7054803]

>>7054638
are your charts loading?

[Anonymous No.7054824]

>>7054803
No, what's funny is I came onto biz earlier today to ask this same exact question. Everyone was saying they were having the same problem.

[Anonymous No.7054841]

>>7054824
ok. i thought it was just me

[Anonymous No.7054863]

>>7054824
sucks trading in the dark. i also wish they would update their UI. it's so bad

[Anonymous No.7054868]

>>7054767
>all the real big banks who are connected to Swift aren’t even remotely interested in Ripple

you have to try harder, pajeet.

Many big banks are currently testing Ripple. Swift is dying and they can't profit from Hyperledger.

When business decide to make the switch to blockchains, they will not choose a copycat, they will choose the best, which is Ripple.

[Anonymous No.7054890]

>>7048353
>How can this not be about XRP? Nothing else is able to do these things not even ETH

It's about Quorum. Which is based on ETH.

[Anonymous No.7054900]

>>7054863
Yea it pisses me off too.

[Anonymous No.7054918]

>>7054890
Quorum was announced a long time ago for smart contracts. They are announcing a new system for payments. It might not be Ripple, but it's certainly not Quorum.

[Anonymous No.7054971]

>>7054900
Do you think they'll fix it soon?

[Anonymous No.7054973]

>>7054868

> cope

You bought in at 3 dollars, didn’t you? Make sure to dump your bags on time.

[Anonymous No.7054991]

>>7054918
>combines immediate funds availability, settlement finality, instant confirmation, and integrated information flows—all in a payment made in seconds. Bringing together speed, data, and communication solves for longstanding challenges.

Sure sounds like smart contracts to me. 20 internets says that they are going to build a payment system on Quorum.

[Anonymous No.7055051]

>>7054991
you must be retarded to think banks would trust smart contracts for such tasks

>>7054973
bought at 20 cents. sold 30% at $2.7. bought the dip at $1.

you sound very threatened by XRP. Tell me about your bags. If I have to guess I would say bcash, but it doesn't really matter, they will be worthless soon.

[Anonymous No.7055182]

>>7052755
You sound threatened by XRP Anon. Not feeling comfy aka not being invested in Ripple is a bad feeling Anon.

[Anonymous No.7055211]

>>7055051
What a compelling argument. You sure showed me. I guess there's no way that a bank would want to automate payment channels that they currently have to pay employees to process by utilizing an internally-developed and controlled smart contracts platform, no siree.

[Anonymous No.7055326]

>>7055211
you are ignorant and dumb. smart contracts are very risky. especially in ethereum (quorum is based on ethereum). and ethereum's language is worse than javascript.

a payment system wouldn't have payments as a plugin, it would payment features built in the protocol and well tested (like Ripple). JP Morgan moves trillions of dollars every day.

[Anonymous No.7055490]

>>7055326
>https://www.coindesk.com/jpmorgan-launches-interbank-payments-platform-quorum-blockchain/
Hey would you look at that, turns out I was right all along.

[Anonymous No.7055516]

>>7054584
I agree with this and that's why I only hold XRP. If I ever want to buy monero I will simply trade XRP for it.

[Anonymous No.7055610]

>"The company owns 63% of XRP. So get the popcorn and ready up for the biggest pump and dump."

Yea No thanks

http://www.coinopsy.com/ripple-xrp/

[Anonymous No.7055633]

>>7055490
old article from October

this is not the real time payment system they are talking about

different products and described separately

[Anonymous No.7055742]

>>7055610
Try again pajeet, they own less than 60%.

"Ripple Labs share is locked in 55 batches on the network. Only one batch can be unlocked per month. It would take them 5 years to unlock them all. XRP is sold only to long term investors (i.e., they can't dump)"

"XRP is a revenue source for Ripple Labs. This aligns its incentives with XRP hodlers. It uses the revenue to improve the tech and expand XRP's marketshare"


what happens when founders don't have their coins locked or don't have coins at all?

.
Ether: Vitalik is threatening to leave.
.
Litecoin: Charlie dumped on the noobs and said he will leave soon.
.
Bitcoin: Core devs refused to increase the blocksize even temporarily, and as a result, bitcoin is dying, the fees skyrocketed, the price crashed, more merchants are dropping it and no one is using it for payments anymore


incentives matter.

[Anonymous No.7055911]

>>7049845
>>7049201
>comparing copy and paste coins with building houses and cards

>>7051684
The real issue is they did not use GPL3

[Anonymous No.7055973]

>>7048353
Banks don't need this kind of liquidity you dummy ass dummy, you think when Canada sold all their gold it was physically transported between countries? Do you have any idea how banking works?

[Anonymous No.7056053]

>>7050806
>7050806
>Old homeless guy

That's Clif "webbot is always right" High, show some respect you faggot

[Anonymous No.7056129]

How can people see this as a good thing? Banks are making their own ledger. It kills off public blockchains.

Why would banks take the disadvantages of a public blockchain:
- DDOS vulnerability
- Fees
- Outside attack vulnerability
- Decreased control

When they can just make their own and keep non-banks out, only allowing their clients to access it as users

[Anonymous No.7056135]

>>7055973
You are clueless. Today, cross-border payments are processed through a chain of banks with each intermediary representing a potential point of delay, failure and cost. Smaller, respondent banks depend on large correspondent banks to provide liquidity for their cross-currency payments. The process requires respondent banks to outlay liquidity in nostro accounts with correspondent banks. Correspondent banking costs make servicing certain types of cross-border payments, like low-value payments, unprofitable for banks.

By matter of enabling instant, point-to-point settlement, Ripple reduces these liquidity requirements. And by matter of providing end-to-end visibility into each settlement, Ripple compresses payment operational costs associated with reconciling exceptions and failures.

[Anonymous No.7056138]

>>7051009
>Alone the fact that xrp still remains the most hated coin on /biz/ should all of you give a clear hint of what you should do ffs
this

[Anonymous No.7056233]

>>7056135
Still doesn't explain why they'd make their settlement layer publicly available. If there's no free access to it, you don't need fees.

[Anonymous No.7056279]

>>7056233
>why do we need tcp/ip, we can just make our own protocol

[Anonymous No.7056326]

>>7054900
charts are back on :)

[Anonymous No.7056355]

JPMorgan and similar will be irrelevant in a few years = Ripple along with them. We are not going to need these fuckers ever again. The party is over for them.

[Anonymous No.7056384]

>>7056279
Fantastic argument. Why would they have made their own internet? Huge cost for almost no benefit.

Now compare to using external validators, exposing your network to the public, and paying to buy the tokens needed for fees. Why in the hell would they do that over every banks just setting up their own validators and running a fee-less private fork of Ripple? What IS the advantage?

[Anonymous No.7056470]

>>7056384
you are a brainlet.

let me give you a simpler example: you want to socialize with other people, would you join Facebook, or start a facebook clone? assuming you have facebook source code and an army of developers.

[Anonymous No.7056513]

>>7056384
>paying to buy the tokens needed for fees

A standard transaction costs just 0.00001 XRP. The network is virtually free.

Using xRapid for settlement requires holding XRP just for seconds. xRapid uses public exchanges that trade XRP to source liquidity from speculators and other members of the public who're trading cryptocurrencies for fiat and vice-versa. It pairs trades at different exchanges in real time and transfers the XRP between exchanges.

It automates the following process, which one can do (slower, thereby less profitably) by hand:

Deposit USD at (source exchange)
Trade USD for XRP at (source exchange)
Withdraw XRP from (source exchange), deposit at (destination exchange)
Trade XRP for EUR at (destination exchange)
Withdraw EUR from (destination exchange

[Anonymous No.7056524]

>>7056384
Banks are interested in sending money to each other, not internal transactions. They are intereted in ONE standard. One crypto for each bank is retarded

[Anonymous No.7056527]

>>7056470
If I'm a bank, paranoid, greedy and resourceful, and I want to send a message to another bank - do I adopt the paid service hosted by some third party, or do I talk with the other bank to set up our own private and independent communication channel for little to no cost?

[Anonymous No.7056557]

>>7056513
xCurrent doesn't require holding XRP, but it doesn't save as much.

https://ripple.com/insights/ripple-and-xrp-can-cut-banks-global-settlement-costs-up-to-60-percent/

[Anonymous No.7056644]

>>7056527
your ignorance is really showing. stop posting and lurk more.

>paid service hosted by some third party

ripple is not that. it's a blockchain and it's trustless, retard.

>send a message

ripple is not for sending messages.


> set up our own private

That's one of the uses for payment channels. You communicate directly with the other party, and settle later on the network.

"Payment Channels are an advanced feature for sending "asynchronous" XRP payments that can be divided into very small increments and settled later"

https://ripple.com/build/payment-channels-tutorial/

[Anonymous No.7056686]

>>7056513
Kek, fee's a fee. They have to run validators anyway, so why would they also want to pay a fee for every single transaction they make? Especially when the fee is essentially wasted when it gets burned. Tell me, why would banks have to pay that fee millions of times a day if they can choose not to?

And as soon as somebody from the outside begins a DDOS, the fees ramp up. Do you think banks are ok with that?

>>7056524
And why would that not be a standard controlled by a consortium of banks? Why would it be something neets and other players hold a stake in and are freely able to use and perhaps even validate?

[Anonymous No.7056727]

>>7056644
>ripple is not for sending messages.
I was referring to the facebook example, idiot.

>That's one of the uses for payment channels. You communicate directly with the other party, and settle later on the network.
Wow great, but that still doesn't give a single reason for banks to expose the entire network to the public. There's nothing but disadvantages for doing that, so tell me, why would they make the network freely accessible to anybody and accept non-bank validators into the network?

[Anonymous No.7056861]

>>7056686
Google R3. They are already working on it and there is an ongoing dispute betwwen R3 and Ripple. The banks ARE interested in Ripple as their solution.

[Anonymous No.7056917]

>>7056861
Sure they are, and it's clear that it's advantageous to banks. The problem here is that us holding the specific XRP tokens doesn't let us take a cake of whatever solution the banks end up going with. They basically kickstarted R3 to say fuck you to the existing blockchains so I think that shows that they're still trying to avoid the public-facing solutions

[Anonymous No.7056963]

>>7056686
>so why would they also want to pay a fee for every single transaction they make?

The current standard transaction cost 0.00001 XRP ($0.000012), that's nothing.

The cost is not paid to any party: it's irrevocably destroyed. It exists as an anti-spam measure.


>And as soon as somebody from the outside begins a DDOS, the fees ramp up.


Your ignorance is showing again. That works for Bitcoin because it's slow. Ripple processes 1500 transactions per second. If you want to raise the minimum fee to be > $1. You have to burn $1500 per second. and even that $1 fee wouldn't be a problem for banks that move millions or billions.


only you see the network fee as a problem because you are a desperate brainlet. probably a bcash bag holder.

[Anonymous No.7056990]

>>7049953
>This. Crypto is about taking money away from the banksters not about giving them more

Don't fucking kid yourself m8. We all know you plan on cashing out.

[Anonymous No.7057070]

>>7056963
>The cost is not paid to any party: it's irrevocably destroyed. It exists as an anti-spam measure.
Yes, so the banks lose whatever fees they pay. At least in XLM the fees would be distributed back to the banks.

>Your ignorance is showing again. That works for Bitcoin because it's slow. Ripple processes 1500 transactions per second. If you want to raise the minimum fee to be > $1. You have to burn $1500 per second. and even that $1 fee wouldn't be a problem for banks that move millions or billions.
1500 isn't gonna be shit against DDOS. Which is entirely possible on a public ledger that anybody can transact in. If the ledger was private, the banks could just see whoever is making the spam and block the party.

When somebody starts a DDOS, the fees ramp up sky-high to make the attack more expensive and force the attacker to stop. But at the same time the network will slow down momentarily and banks have to pay higher fees for all their transactions. Instability and cost.

I'd love you to convince me that us holding crypto is gonna benefit us, but so far you haven't addressed the "why" part of banks making their ledger public. SWIFT isn't public either, this will essentially be a replacement for it and has no reason to be any more public.

[Anonymous No.7057172]

>>7056355
this. everyone on /biz/ needs to go back to the basics with austrian monetary theory and basic economics. it's already over for these jews and they don't even realize it.

[Anonymous No.7057174]

>>7056963
Also do you seriously think that the banks are just gonna be buying XRP from you?

[Anonymous No.7057183]

>>7056727
>There's nothing but disadvantages for doing that

there are many advantages. There are no disadvantages.
>I was referring to the facebook example, idiot.

you would send encrypted messages through facebook. same concept as payment channels.
>anybody and accept non-bank validators into the network?

You don't understand how Ripple works. Every Ripple node validates the transactions. No node accepts an invalid transaction. The role of the validators on the default list is to simply agree on an order for the new transactions.

Banks don't need to run validators.

[Anonymous No.7057214]

>>7056917
Yeah sure, but R3s solution is a complete joke. It shows how the idea of banks developing their "own" crypto is a doomed to fail

[Anonymous No.7057271]

>>7057070
>1500 isn't gonna be shit against DDOS.

now you are changing the subject. Transaction spam and network spam are different things.

Transaction spam: useless with Ripple because it's so fast. You have to burn millions of dollars per second just to raise the fee by an insignificant amount.


Network spam: not a problem either. Validators are run by the best (e.g., Microsoft, MIT, ..etc


you are very ignorant. you probably started using computers months ago.

[Anonymous No.7057277]

Haha, they won't use ripple. Most banks are trialling hyperledger. Fuckin cripple btfo again

[Anonymous No.7057290]

>>7057183
>there are many advantages
This doesn't sound hand-wavy at all. What are those advantages?

>You don't understand how Ripple works. Every Ripple node validates the transactions. No node accepts an invalid transaction. The role of the validators on the default list is to simply agree on an order for the new transactions.
So, do they just allow Ripple to run the majority of nodes controlling their money? No. They want no third parties involved. They want it to be a network between banks, and banks only. Bringing in third parties only makes the network less secure for them, and introduces the concepts of DDOS, malicious validators and fees.

>>7057214
That's true. I'm expecting them to eventually fork XRP or XLM for their private use. The bad thing is that they have the final say, because they're the ones holding all the fiat. They can do whatever they please as long as fiat is the dominating currency (hint: it's not going away as long as crypto can go +-30% in a day).

[Anonymous No.7057350]

>>7048353

its about that time to buy more. Koreans are getting their KYCs finished

[Anonymous No.7057380]

>>7057271
>Transaction spam: useless with Ripple because it's so fast. You have to burn millions of dollars per second just to raise the fee by an insignificant amount.
1500 * 0.0000012 = 0.018 $ a second to spam the network. If they increase the fees to stop spam, the banks will also need to pay more. Also transaction spam is a form of DDOS.

>Validators are run by the best (e.g., Microsoft, MIT, ..etc
Again, why the hell would banks want MS and MIT participating in their network?

>you are very ignorant. you probably started using computers months ago.
And you are either a shill or terminally retarded. You still haven't answered how banks would benefit from allowing public access to their network.

[Anonymous No.7057387]

>>7051684
This is the post /biz/ will just slide past because they can't stand the fact that they will have to flip burgers when their shitcoins crash

[Anonymous No.7057579]

>>7057277

Hyperledger isn't a blockchain solution, Hyperledger is an umbrella of projects (belonging to The Linux Foundation). Which of these projects were you referring to? Hyperledger Fabric? Sawtooth? Hyperledger Composer?

[Anonymous No.7057641]

>>7057290
Same advantage as using the internet instead of a made up network. You can connect with anyone without convincing them to use a new network. The greater the number, the better.

and xRapid, cheapest method for cross border settlement, utilizes XRP and public exchanges. It wouldn't be possible in a private network.

>o they just allow Ripple to run the majority of nodes controlling their money?

validators don't control money

anyone can run a validator

Ripple labs simply provides a list of validators

validators can't change history, they simple agree on an order for new transactions

Ripple Labs has an objective criteria for adding validators to the default list, and be the end of 2018, they won't be running any validators.


Many public and private entities are running nodes.
>Bringing in third parties only makes the network less secure for them,

same retarded argument was used against the internet, and also against using public encryption algorithms.

>malicious validators
they can't change the history. Every validator is associated with a public key. Any misbehavior is proven cryptographically. Nodes will simply remove misbehaving validators from their list.
>DDOS
DDoS is not a threat anymore unless you are poor. Welcome to 2018.

[Anonymous No.7057664]

>>7057579
I think IBM has implied XLM working with Hyperledger for value transfer, but I seriously doubt banks ever using either that one or XRP.

[Anonymous No.7057723]

>>7057380
>1500 * 0.0000012 = 0.018 $ a second to spam the network. If they increase the fees to stop spam, the banks will also need to pay more

the fee would increase automatically, to $0.0000012 + 1 , that's $0.0000013

keep trying, pajeet.


>transaction spam is a form of DDOS

no, DDoS attack DENIES the service. transaction spam simply increases fees, which is ineffective with fast networks like Ripple.

[Anonymous No.7057747]

>>7057723
* +0.0000001

[Anonymous No.7057804]

ILP AND RIPPLENET ARE GOING TO KILL ALL BITCH ASS COINS IN HERE BRUH.

Decentralize my ass motherfuckers.
Follow the money you fucking retards and stop wasting resources!

But but hyperledger but but qourum but but etherium
GTFO its all useless. They are all going to be connected to the ILP. Gtfo with your shitholecoin shit show

[Anonymous No.7057868]

>>7057641
>You can connect with anyone without convincing them to use a new network
You have to convince the other bank to use Ripple to make a transaction with them using Ripple. Why would the specific incarnation of the Ripple network, the one containing the XRP you hold, be used by the banks?

>and xRapid, cheapest method for cross border settlement, utilizes XRP and public exchanges. It wouldn't be possible in a private network.
Um, why? Banks can just act as the gateways to it or have it work as a separate network (muh liquidity, banks already own all the fiat so why would they need outside liquidity?). They still have no incentive to reveal their own value transfer network to the public.

>Ripple labs simply provides a list of validators
Ah yes, Ripple controls the list of validators. Ripple, a for-profit third party. That will surely sit well with the banks, they certainly won't want to setup their own network where they control the list.

>validators don't control money
That's what they literally do. They distribute control. Letting outsiders into the mix as validators is an obvious security risk.

>validators can't change history, they simple agree on an order for new transactions
Lol, and what if malicious validators just have supermajority and empty a bank's funds? Glad the history wasn't changed!

>Ripple Labs has an objective criteria for adding validators to the default list, and be the end of 2018, they won't be running any validators.
Still a centralized point of control, and not in the hands of banks

>same retarded argument was used against the internet, and also against using public encryption algorithms.
This is about moving money and reducing cost. Making your own intranet is expensive and offers little benefit. Forking XRP offers several benefits like I've explained many times, and is basically no effort.

>>7057723
No matter what, a third party can still make all the banks worldwide pay more fees. Does that sound like a sane concept?

[Anonymous No.7058029]

>>7050760
Everything is a fork of bitcoin. Just because they made some changes, it doesn't mean it's not a bitcoin fork.

>Faggot

[Anonymous No.7058688]

>>7057868
>You have to convince the other bank to use Ripple to make a transaction with them using Ripple.

Nope, you don't. any bank can use Ripple without permission. You don't need to whitelist some IPs, public keys, ..etc as would be necessary in a private network.

You use Ripple like the internet or email.


>That's what they literally do. They distribute control. Letting outsiders into the mix as validators is an obvious security risk.

No, validators don't "distrubte control", . Validators simply agree on an order for the new transaction. They can't change history. There's no security risk.

>if malicious validators just have supermajority and empty a bank's funds?

Validators simply agree on an order for the new transaction. They can't change history. There's no security risk.


>Still a centralized point of control, and not in the hands of banks

using the list is optional.


>Ah yes, Ripple controls the list of validators. Ripple, a for-profit third party.

using the list is optional

Validators simply agree on an order for the new transaction. They can't change history. There's no security risk.
>They still have no incentive to reveal their own value transfer network to the public.


the private network you are suggesting would include thousands of entities who can see the data, just as private as a public network.

so you would sacrifice all the benefits of a public network for nothing. It's like saying hiding in your house will protect you from germs.

[Anonymous No.7058773]

>>7057868
>No matter what, a third party can still make all the banks worldwide pay more fees. Does that sound like a sane concept?


I like that you are complaining about $0.0000012 network fee again and again. All you have accomplished is showing more people how cheap Ripple is, and how retarded its critics are.

[Anonymous No.7059002]

>>7058688
Nice to see you replied still

>any bank can use Ripple without permission
That's the thing. Do banks want that? The ones in the network and running validators, do they want outsider banks gaining access without being vetted on a basic first? Setting up a bank is a legal mess either way, would having to be accepted by the other banks be a negative or make the club too exclusive? I don't see it. The banks would have no reason to not accept legit banks to prevent competing networks from emerging, but the basic vetting process effectively kills all outside threats. Why would this not be the system banks prefer?

Assuming banks fix their cross-border transactions, all remittance providers become unnecessary. People and companies already have their money in the banks and could just move their money easily between banks. All problems solved.

>using the list is optional
Diverging from it is a security risk. If the banks only list their peers, they'll not be part of the main network.

>Validators simply agree on an order for the new transaction.
It's like you don't know how the protocol works. Validators are who decide what happens in the network. If they approve a malicious transaction, it can't be rolled back without a supermajority of validators agreeing on it. If only banks validate, they can reach consensus and recover from this. If third parties validate, they may not agree to roll back malicious transactions.

>the private network you are suggesting would include thousands of entities who can see the data, just as private as a public network.
It would include a limited set of banks. Banks expect trust from each other by default, they can't expect it from third parties. Thus any third parties make the network less secure. If a bank misbehaves, it can be blocked. If anybody can access the network and make transactions from anywhere, they can't pinpoint the source of the spam.

[Anonymous No.7059024]

>>7058773
>$0.0000012 network fee
What's difficult to understand about the fee ramping up? If a neet owns a million XRP or McCaleb owns a billion XRP and decides to perform DDOS because why the fuck not, the fees would have to ramp up to several dollars per transaction to really force the attacker to stop. All banks would be paying huge fees for their transactions in the meantime.

[Anonymous No.7059137]

>>7059024

Ripple processes 1500 transactions per second. If you want to raise the minimum fee to be > $1. You have to burn $1500 per second, that's $5.4 million per hour, just to raise fee to $1, which is nothing for moving millions/billions of dollars.


For payment channels, only opening and close the channel would have a fee. Unlimited number of transactions could happen off the chain for 0 fees.

[Anonymous No.7059150]

Maybe there's a chance that banks could end up choosing to use a public network, but there being hardly any advantages from doing so and the banks losing their dictatorship over money flow as well as exposing themselves to unnecessary threats, I don't see them doing that. So far nobody's presented an argument as to why it would be the more attractive alternative to them.

[Anonymous No.7059158]

>>7048353
It's Lightning Network. Bitcoin and OMNI tokens are about to go to the moon.

[Anonymous No.7059197]

>>7059137
It's a quite large fee increase for all the banks worldwide for a not-so-massive investment by a malicious party. I'm not saying this is a deal-breaker, but it's obviously a downside, just like the decreased security and control are. A downside that I see no reason for the banks to take.

[Anonymous No.7059248]

>>7059197
>It's a quite large fee increase for all the banks worldwide

no

>not-so-massive

no


Come on pajeet, try something new.

[Anonymous No.7059295]

>>7059137
Also seriously, 5.4M$ to slow the world's payment network to a crawl for an hour? Is that enough money to prevent it? The more money the attacker has the further the fees would have to increase because the validators can't tell legit transactions from malicious ones. There would be no way for banks to get their transactions through until the fees have ramped up enough to force the attacker to quit. 5.4M an hour is hardly enough for that.

>>7059248
I will, as soon as you stop dodging my question about what advantages would the banks gain from a public network to outweigh all the disadvantages >>7059150

[Anonymous No.7059298]

>>7048398
Google "ripple effect" it's not what you think

[Anonymous No.7059315]

>>7055326
Actually there is a new Ethereum spin off that uses natural language for smart contracts called matrix ai networks. Guaranteed to be the next big thing in block chain
Should check them out before wasting money on xrp


https://coinmarketcap.com/currencies/matrix-ai-network/

[Anonymous No.7059496]

>>7059295
pajeet, you have to put more effort into your trolling/shilling if you want me to keep answering.

>slow the world's payment network to a crawl for an hour

fees raising (from nothing to nothing) =/= slowing down

>There would be no way for banks to get their transactions through until the fees have ramped up enough to force the attacker to quit

fees increase automatically.

>I will, as soon as you stop dodging my question about what advantages would the banks gain from a public network to outweigh all the disadvantages

already explained to you:
https://www.investopedia.com/terms/n/network-effect.asp


burden on you to show the disadvantages and prove they outweigh the cost savings.

also burden on you to prove your private network wouldn't suffer from whatever disadvantages you imagine (you have to be naive to think a private network with thousands of participants from all around the world would magically be safe)

[Anonymous No.7059497]

>>7059295
Anyway, even a minute halt to the world money flow could potentially be catastrophic. Any risks of this happening can be averted by not allowing just any anonymous entity to make transactions in the network. Are banks liberal enough to tolerate these kinda risks just so that they can make their network public (for no real gain themselves other than the warm fuzzy feeling of inclusiveness) and to make a few neets holding XRP rich?

[Anonymous No.7059676]

>>7059496
>https://www.investopedia.com/terms/n/network-effect.asp
Do you think this is an universal thing to all networks? The article you listed even states that network size has drawbacks.

>burden on you to show the disadvantages and prove they outweigh the cost savings.
What are the cost savings? I've listed the disadvantages like 5 times already - vulnerability to spam, decreased security, decreased monopoly. Fiat is the exclusive property of banks, why would they benefit from making their fiat network open to everybody else? They would also lose their competitive edge with that. Since they control fiat, they can decide to keep their dominance by not allowing anybody else into the network. There's nothing you can do about that as an outsider since the network's value is in fiat, and fiat is their property. Outsiders being able to participate doesn't make the network more valuable since it doesn't increase the amount of fiat in it.

The only possible advantage I can theoretically see is non-fiat assets entering the network and benefiting the banks with even more liquidity, but like I said earlier that would still not mean banks couldn't just take control of those assets too and still keep their network private-only use. I also don't see it outweighing the disadvantages of a public network.

>also burden on you to prove your private network wouldn't suffer from whatever disadvantages you imagine (you have to be naive to think a private network with thousands of participants from all around the world would magically be safe)
A private network with only approved banks participating would definitely be more safe than one with a large number of possibly malicious validators and countless anonymous users.

[Anonymous No.7060609]

>>7051105
>Crony capitalists that want to maintain the status quo

No thanks, theyre not having any of my bitcoins

[Anonymous No.7060652]

>>7048353
>Buying cRipple

[Anonymous No.7060722]

>>7048353
XRB 100x better than XRP and 1000x better than that shitcoin XLM

[Anonymous No.7060897]

>>7059676
>Do you think this is an universal thing to all networks?

it applies to Ripple.

>The article you listed even states that network size has drawbacks.

Not with Ripple.

>What are the cost savings
xRapid
xCurrent

https://ripple.com/insights/ripple-and-xrp-can-cut-banks-global-settlement-costs-up-to-60-percent/


>vulnerability to spam

already proven wrong


>decreased monopoly

already proven wrong
>decreased security

already proven wrong. a public network is more tested than a private one. same with cryptography algorithms, you don't come up with your own algorithm and use it privately. you only use public algorithms that have withstood the test of time.

the private network you are suggestion would have thousands of participants from everywhere in the world. malicious actors will have access to it.
>why would they benefit from making their fiat network open to everybody else?

the "private" network you are suggestion would have thousands of participants from everywhere in the world. do you think if you tell a secret to thousands of strangers they will keep it?

[Anonymous No.7061573]

>>7048353
That’s why I own kin.

[Anonymous No.7061762]

>>7048353
>How can this not be about XRP?
They would NEVER pick a coin with static supply. It simply won't be used for payments. People don't spend money that is scarce.

[Anonymous No.7062688]

>>7060897
Posting on phone, bump

[Anonymous No.7063028]

Seems to be looking super bullish today, 30% of my portfolio is Ripple, lets see where the next few weeks will take us

[Anonymous No.7063159]

>>7060897
Okay, so you didn't really prove any of those claims wrong. Spam is a threat instead of a non-threat, and fees become necessary. Monopoly would obviously decrease.

The liquidity system you posted can be implemented just the same on a private network, using any token.

There is no issue of "strangers" getting into a private network. There is a limited set of accepted public keys. If somebody leaks their pub key, it can be banned. Strangers can literally not infiltrate the network, but with a public network that is a real possibility.

[Anonymous No.7063599]

>>7063159
you are retarded

some of the thousands of participants will be malicious. some of the thousands of participates will have their system accessed by a hackers to reach the network.

public network = battle -tested

and everything has a cryptographic proof

[Anonymous No.7063858]

>>7063599
Public network doesn't mean being battle-tested the same way as a protocol being battle-tested.

If anybody can join as a validator into the network, the threat of an outside attack obviously has to be greater than if only vetted entities with public identities can join. Only allowing audited banks reduces the risk of some malicious entity overtaking the majority of nodes to near zero, meanwhile a public network will always entertain the risk of getting compromised by a malicious entity joining multiple times.

If one bank is hacked, only its share of the network gets compromised, and the majority bans the pubkey of that bank. The only way to compromise the network is taking over enough banks to reach supermajority. Meanwhile in an open network it's enough that the attacker just manages to join enough times to take over, there's no closed membership to prevent that from happening.

[Anonymous No.7064323]

>>7063858
>If anybody can join as a validator into the network,
>meanwhile a public network will always entertain the risk of getting compromised by a malicious entity joining multiple times.


with all seriousness, if you are not a shill/retard/troll, read from the official site.

Each entity has a public key. Doesn't matter if it's running one validator or a million. It counts as one vote. If the validator gets compromised and misbehaves, the rest of validators would have cryptographic proof of the misbehavior , they would remove it from their list.

In ripple, the chain CAN'T be rolled back. All the attacker can accomplish if he comprises +20% of validators is to stop new transactions temporarily. No double spending possible.

You are imagining scenarios about a protocol you don't even know.

[Anonymous No.7064394]

>>7049514

>it was already over 3 dollars

okay

[Anonymous No.7064433]

>>7048353
You are stupid. JP Morgan has it's own blockchain, it's called Quorum.
They are working with Chainlink on the oracle integration.

[Anonymous No.7064448]

>>7064323
The point here is that any entities getting access to the network have to be considered of questionable trusr by the banks. The more entities join, the less safe the banks are if the other entities decide to disagree with the banks or outright attack them. Non-bak validators are not a desirable goal for banks, quite the opposite. So why would they want them joining and some of them potentially being hostile against them (being picked by a third part, after all)? What makes this system better than a network where banks decide the list of participants by themselves? Why do they want those outside forces participating and decreasing the security?

[Anonymous No.7064487]

>>7063599
>>7060897
>>7063858
>>7064323
>>7064448
It's not about Ripple, tards.
https://www.jpmorgan.com/global/Quorum

[Anonymous No.7064508]

Guys this is obviously LINK.

[Anonymous No.7064551]

What does MS bring to the table that banks already can't have in their privatr network? And why would they want to allow other parties doing transctions on the ledger directly instead of forcing them to go through the banks to use it? As I've argued this several times over, there's quite literally no advantage for the banks from making the network public access.

[Anonymous No.7064622]

bet against ripple has to be one the stupidest things someone would do, just use your brain a little bit...

[Anonymous No.7064666]

>>7064448
are you kidding? Ripple Labs would love nothing more than banks running 100% of validators. They simply didn't offer, and banks can ignore Ripple Labs and agree on their own list.

And again, validators on the default list aren't a security risk. Worst they can do is stop new transactions. They can't undo transactions.

[Anonymous No.7064747]

>>7050937
lLOL so true

[Anonymous No.7065333]

>>7064666
They would love only having banks and maybe they eventually will, but at that point they've created a bank-only private network, and there is no more need for fees to protect from spam. Consequently there's no need to use the current incarnation of XRP we plebs might be holding currently. If they get on board of the Ripple train, it will be an ecosystem entirely separate of the current XRP-containing network. You kinda admitted that yourself here too.

[Anonymous No.7065610]

>>7065333
nope, didn't admit that, just saying that's what Ripple Labs would love.

XRP is the target for Ripple. Do you get that? xCurrent is get a way to get them through the door. Banks fear touching xRapid right now because of regulation. That's not my opinion, that's what they say publicly. xCurrent is regulation friendly. xRapid requires using public exchanges, buying a crypto, transferring it, ...etc

[Anonymous No.7065631]

>>7065610
wrong pic

[Anonymous No.7065675]

>>7065631
xRapid is not just cheaper, it provides settlement. xCurrent still doesn't provide settlement.