Quote from: bibbit on September 19, 2013, 06:03:31 PM

Quote from: QuantPlus on September 19, 2013, 05:45:03 PM

And you cannot get any Tax Compliant report on Ripple network trading activity...

This is actually one of my concerns, and something that might hamper adoption by players who could bring real liquidity to the system. Undecided

Since the ledger is public, it seems like an opportunity for a company to provide a service where you give them a ripple address (or group of addresses), a jurisdiction and a time frame and then they produce a tax compliant report.

It would be nice to see this built in, but with all of the possible jurisdictions, I don't see that happening. Do you think there would be enough people willing to subscribe to such a service to support the programmers and various tax lawyers required to make it happen? What do you think serious traders would be willing to pay for this?

Note: I don't plan to do this myself. I just want to know if you think there is enough demand to support someone doing it the right way.

Well, you have to look at Ripple XRP volume and estimate number of traders...
Because most currency exchange is designed to go thru XRP...
XRP is a highly specialized internal Market Making currency...
And only XRP/BTC and XRP/USD Bitstamp have any liquidity.

So XRP volume had collapsed to about 150 BTC or $20,000/day...
And with the new Pump and Dump has tripled to 450 BTC or $65,000/day...
I will bet you anything OpenCoin is dumping XRP into this market to raise cash.

That translates into maybe 20 traders during dead times...
To maybe 100 traders during pumps.

http://bitcoincharts.com/charts/rippleXRP#rg90zigDailyztgSzm1g10zm2g25zv

Ripple is such a dog...
On average, mcxNow is doing about 5 times the business as Ripple...
And the Ripple client and trading interface is awful... with 242 bugs on GitHub.

https://github.com/ripple/ripple-client/issues?state=open

It's all smokes and mirrors, baby...
I'd be totally shocked if key server code is open sourced...
They have not yet achieved anything approaching critical mass...
All the Classic Ripple vultures are circling the sky waiting to hard fork.

I don't believe a word OpenBong says.