Crypto Currency Thread
Discussion
Real time settlement for institutional clients in what the future always was for distributed ledger technologies. In the same way that commodity transactions will be settled in future, with something like a clearing house or clearing database settling physical transactions similar to what happens with paper trades. Much lower cost than the current system of sending vast duplicate and triplicate paper contracts around the world and waiting weeks for payment.
g4ry13 said:
Revolut blocked transfers to crypto exchanges a while back.
Revolut sends fine to Coinbase.i send to coinbase very regularly, in fact i sent some Euros there Monday morning, and was in my coinbase account and into BTC within the hour.
an Oz of natures finest im tucking into now can testify to that
god bless technology and royal mail.
whatxd said:
I haven't had a problem transferring from RBS to Coinbase (and vice versa) other than the fees involved which I've just accepted as a part of this process.
dont pay fee's.. are you buying crypto from your bank card direct? just transfer it from revolut to coinbase for free, once the £ or Euros are in coinbase transfer the money (internal wallet transfer) to pro.coinbase .. its what used to be gdax, just type the address in and it will auto log you in, then do a wallet transfer from coinbase..(your coinbase wallet wont show up in pro. until you transfer (deposit button, select currency, select coinbase) once the fiat is there you can place limit orders which are 0% commission, market maker fees are zero on pro.coinbase, so take advantage, market buying will run you a heafty %.
never market buy at coinbase prices, if you want the BTC/LTC/ETH quickly just set a limit buy order along with the highest bid, it will get filled before youve had a chance to boil the kettle
dimots said:
Looks like its a tether alternative. Real time borderless settlement. Institutional clients only. Automated book-keeping on a permanent ledger.
Interesting development but nothing new.
It is very new in the context of legitimacy and operating within a regulated framework while being asset backed and pegged. This is one of the first proper forays into the use of the tech in V2 of the market place. It’s of huge importance as it will display to the wider market whether the tech does offer faster and more secure, therefore cheaper activity in the real world. No gambling, no get rich quick, no freeman of the land or government toppling insanity, no snake oil trading systems, no shonky exchanges. It’s a credible, real world test of the concept and tech within a suitable environment. It’s genuinely important. Think of it as a fork possibly about to put in. Interesting development but nothing new.
The key argument that will play out over this is that of whether it meaningfully, viably, credibly adds to the real world on a commercial basis. Plus, just the running of the experiment in such an environment always has the opportunity of opening up new horizons and possible directions.
It will be very good to follow but I don’t expect many of the blogs are going to follow it as it offers no hope of revolution, no hope of being a secret agent and you can’t sell any get rich quick schemes based on it.
DonkeyApple said:
It is very new in the context of legitimacy and operating within a regulated framework while being asset backed and pegged. This is one of the first proper forays into the use of the tech in V2 of the market place. It’s of huge importance as it will display to the wider market whether the tech does offer faster and more secure, therefore cheaper activity in the real world. No gambling, no get rich quick, no freeman of the land or government toppling insanity, no snake oil trading systems, no shonky exchanges. It’s a credible, real world test of the concept and tech within a suitable environment. It’s genuinely important. Think of it as a fork possibly about to put in.
The key argument that will play out over this is that of whether it meaningfully, viably, credibly adds to the real world on a commercial basis. Plus, just the running of the experiment in such an environment always has the opportunity of opening up new horizons and possible directions.
It will be very good to follow but I don’t expect many of the blogs are going to follow it as it offers no hope of revolution, no hope of being a secret agent and you can’t sell any get rich quick schemes based on it.
Forget the internet. Any fool can see that regulated intranets were the real breakthrough The key argument that will play out over this is that of whether it meaningfully, viably, credibly adds to the real world on a commercial basis. Plus, just the running of the experiment in such an environment always has the opportunity of opening up new horizons and possible directions.
It will be very good to follow but I don’t expect many of the blogs are going to follow it as it offers no hope of revolution, no hope of being a secret agent and you can’t sell any get rich quick schemes based on it.
dimots said:
You’re right, I’ve seen the light! The future of blockchain is enabling transfers between trusted and verified parties, fully KYC’d and on private networks. It’s so obvious now you say it. It’s what the world has been crying out for.
Exactly. All the secret squirrel, government toppling stuff is best left for the Freemen and preppers. The importance of this is that if JPM settle down n to using this type of system then it finally opens it up for all the other firms and linked industries to consider. What it could achieve is a genuine change of mindset in the real world. An aspect that is all too important in regards to moving things forward.
The downside is that it will upset and be pooh-poohed by kids and Freemen.
DonkeyApple said:
Exactly. All the secret squirrel, government toppling stuff is best left for the Freemen and preppers.
The importance of this is that if JPM settle down n to using this type of system then it finally opens it up for all the other firms and linked industries to consider. What it could achieve is a genuine change of mindset in the real world. An aspect that is all too important in regards to moving things forward.
The downside is that it will upset and be pooh-poohed by kids and Freemen.
Don't think there's anything to get upset about (except JPMs inappropriate use of buzzwords to grab marketing headlines). Improving intrabank payment rails is a good idea, good luck to them & I'm glad they're doing it. Bye bye Hyperledger, R3, Ripple etc.The importance of this is that if JPM settle down n to using this type of system then it finally opens it up for all the other firms and linked industries to consider. What it could achieve is a genuine change of mindset in the real world. An aspect that is all too important in regards to moving things forward.
The downside is that it will upset and be pooh-poohed by kids and Freemen.
Seventyseven7 said:
With Modum being delisted from Binance, can someone tell me what will happen to my Modum that is in there?
I can’t currntly login to sell up. Will it just go to zero on delist day, and my portfolio be dead?
You coins will still have value, but you will need to transfer them to a wallet off Binance. If you want to sell them you will need to find another exchange with a market for Modum.I can’t currntly login to sell up. Will it just go to zero on delist day, and my portfolio be dead?
Unfortunately, you are experiencing something which is happening to a lot of altcoins. They are being delisted by the only exchange which offers a market for them and you are effectively being left with something you cannot sell.
Behemoth said:
Don't think there's anything to get upset about (except JPMs inappropriate use of buzzwords to grab marketing headlines). Improving intrabank payment rails is a good idea, good luck to them & I'm glad they're doing it. Bye bye Hyperledger, R3, Ripple etc.
I can still see a role for Ripple, even if every bank has its own internal thing going on.I imagine they will be able to make gains on FX with this. Instead of exchanging and settling in currency at the time of transfer they will store transaction details on their blockchain and only convert when rates suit. Though I wonder if they will pass savings on to their customers or just use it to extract even more profit? I suspect I already know the answer.
dimots said:
I can still see a role for Ripple, even if every bank has its own internal thing going on.
I imagine they will be able to make gains on FX with this. Instead of exchanging and settling in currency at the time of transfer they will store transaction details on their blockchain and only convert when rates suit. Though I wonder if they will pass savings on to their customers or just use it to extract even more profit? I suspect I already know the answer.
Any thoughts on IOTA ? I imagine they will be able to make gains on FX with this. Instead of exchanging and settling in currency at the time of transfer they will store transaction details on their blockchain and only convert when rates suit. Though I wonder if they will pass savings on to their customers or just use it to extract even more profit? I suspect I already know the answer.
Seventyseven7 said:
With Modum being delisted from Binance, can someone tell me what will happen to my Modum that is in there?
I can’t currntly login to sell up. Will it just go to zero on delist day, and my portfolio be dead?
its a erc-20 token, withdrawal to eth adreess(that accepts tokens) i use https://www.myetherwallet.com/, you will need eth on balance for gas to move, once another exchange sells them..I can’t currntly login to sell up. Will it just go to zero on delist day, and my portfolio be dead?
dimots said:
I imagine they will be able to make gains on FX with this. Instead of exchanging and settling in currency at the time of transfer they will store transaction details on their blockchain and only convert when rates suit. Though I wonder if they will pass savings on to their customers or just use it to extract even more profit? I suspect I already know the answer.
How can they make forex gains? The whole point is it's pegged to USD so it makes no difference when they convert from blockchain.dimots said:
Edited this because I don’t know enough about the JPM coin.
Me neither. Their press release actually says it "is based on blockchain-based technology". That's a lot of basing. From what I can gather, their token lets them move $ between JPM accounts instantly. This really begs the question why their databases don't already allow that to happen. Banking back ends are often rather antiquated, but c'mon.Gassing Station | Finance | Top of Page | What's New | My Stuff