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Ripple News: XRP TipBot Creator Says Adding More Tokens is Confusing as 7 Million XRP on the Move

Wietse-Wind-Thinks-That-Addition-Of-More-Tokens-On-XRP-TipBot-Would-Confuse-The-Users

XRP Tip Bot is a bot that enables users on Reddit, Twitter, and Discord to send Ripple’s coin XRP to each other through Reddit comments or tweets.

If you are feeling generous and want to send a tip to your friends, followers or anybody with a Twitter account, you can use this incredibly useful, simple and fun tool.

The bot’s developer, Wietse Wind, had been asked several times to add more tokens to the tip bot, however, he thinks that this would lead to something called as Analysis paralysis. It describes an individual or group process when over-analyzing or over-thinking a situation can cause forward motion or decision making to become ‘paralyzed’, meaning that no solution or course of action is decided upon.

A situation may be deemed as too complicated and a decision is never made due to the fear that a potentially larger problem may arise.

A Twitter user asked Wietse:

“Hey @WietseWind! If it’s possible to represent any token, or value, on the #xrp ledger, would it then be feasible to 1) refactor the tipbot to allow a sender to specify the currency Eg +0.0001 $btc @xrptipbot, and, 2) get a tweet/dm feedback to confirm success/failure?”

To which he replied:

“I was thinking about this feature for the V2 developments, but I think it will be a way too confusing for users. I want to offer a simple, easy to use, easy to get started with service. Imagine receiving a tip for the first time, not knowing what the TipBot is, not knowing what XRP is, and then, to complicate matters, not knowing how it can be another token, etc.”

The illusion of choice is a major paradox many companies are trying to deal with. From restaurants minimizing the contents of their menu, to software developers making minimalistic projects, to UI/UX trying to make projects for the mass market, the list goes on. Wind understandably doesn’t want that in his project.

A Report Shows Transfer Of About 7 Million XRP From Bittrex To Upbit

A-Report-Shows-Transfer-Of-About-7-Million-XRP-From-Bittrex-To-Upbit

XRP’s value has remained pretty calm in these volatile times however there is some movement by crypto whales that can lead to drastic changes in the third largest crypto. Prominent crypto handle that tracks down the movement of these whales has shown that there has been a transaction that has shown the transfer of a total of 6,999,999 XRP from a Bittrex Wallet address to an Upbit Exchange wallet.

The Bittrex wallet address was rPVMhWBsfF9iMXYj3aAzJVkPDTFNSyWdKy and that of Upbit was rNzT5xopUaJK8L7mHbThUGKaHoct62dNBC. The funds were transferred on Saturday, May 18 at 09:25:22 UTC. A sum of $2,598,558 USD was transacted for.

Source: Whale alert

Generally a single transaction of over $ Million would have been the highlight of an exchange in a day, however, this was the second biggest one during the day. The same day saw a transfer of 9,999,999 BTC worth $3,712,226 USD from Bittrex to Upbit.

Source: Whale Alert

These huge transactions did not go unnoticed by the Ripple community. Notably, there have been inconsistencies in Ripple’s Q3 report of 2018 and Q1 report of 2019 which was noted by CoinMetrics. The report had claimed:

“Two quarterly markets reports under-reported the number of XRP released from escrow by a total of 200 million XRP ($84 million at current prices).”

To this, the company’s CTO David Schwartz aggressively pushed back.

“Regarding the chatter about reporting methodology around XRP escrow in @Ripple’s quarterly XRP Markets Reports: this is simply a timeline issue.”

XRP’s price is $0.41 XRP/USD exchange rate today. The real-time XRP market cap of $17.28 Billion currently ranks #3 with , daily trading volume of $949.75 Million and live coin value change of XRP 9.74 in the last 24 hours.

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