Friday, May 20, 2022

Talking XRPL to the Basics: The difference between an account vs wallet or interface

Hey everybody and welcome uh welcome to today's sunday stream talking about uh getting back to the basics on the xrpl and yeah so today we're going to talk about basically everything on basics accounts the difference .

Between an account and a wallet and like interfaces like xrp toolkit and sologenic and things like that and uh yeah we'll even get into talking about assets trust lines if you guys want to do a bit more discussions on the xrp toolkit we can do that too yeah basically there's a few things that .

I plan on going over as a general sense and then we can open up a discussion and dive in uh further from there so yeah thanks everybody i hope you're having a great saturday and uh i seen uh xrp crypto beast he wasn't able to join us he's out playing golf lucky .

But uh yeah how are y'all doing today kind of give it a few minutes here for uh some people to start rolling in and so forth let's see uh thompson in the chat chris here looks like xrp marshall left a comment there a bit .

Much i think that one's a little bit older so i'm not sure if he's in the chat with us right now but yeah anyways just kind of give it a couple minutes here for uh others to start rolling in yeah so yeah i've um anyways i've basically just been uh .

On twitter there and seen some confusion coming from people in regards to uh the difference between an account and a wallet and so forth and i figured this uh stream or whatnot would be a great way to touch on that because uh as well uh seeing uh people posting up an address and it will end up being an issuer address so .

An example of that was i had someone message and there are sent me uh an address saying hey yeah can you send me an airdrop or send me a tip or whatnot and i'm like yeah sure like you know but like i could probably send you a tip but you you're giving me the issuers address .

There's a bit of a problem with that um please don't send that any funds otherwise you're going to end up black holding those funds because well it's a blackholed account but we'll get into that further so looks like we got big ted in the chat welcome buddy matt's go william how are .

You guys doing oh we got wesley in the chat too cool all right what's happening everybody so yeah um essentially yeah uh i just want to go through and clarify like some of the basics like i know it seems like .

For a lot of us that have been in the space it seems like something that should just be you know common knowledge or common sense and so forth but the thing is with a lot of new people coming into this space they don't have any idea they're like hey crypto what's .

This okay and then instant overload we've been there even when we first joined the space ourselves it was like it was information overload and even now it still is like sorry my allergies are going a little muddy but like even now like it's still information overload out there like .

Myself i'm looking at the the d5 space with flair finance and all that and everything that's coming out and like i didn't get a chance to really do the uh the beta testing there so a lot of that was still uh information overload uh for me and so looking at that now it's .

Still the same way like there's a lot happening that i'm not like i need to get myself definitely need to get myself up to speed with that stuff but uh anyway so as a point of that is that we often take for granted the knowledge that we have and so .

I wanted to impart that on some of the newcomers into the space and maybe even some people that have been in the space for quite a while but the connection there hasn't fully been made because i know like even myself like i've been in the space a few years now and it wasn't until honestly just .

A year year and a half ago before like things actually started to click for me and things started to make sense so that's kind of what i wanted to go over here today and bring a highlight back to the basics for everybody .

So i'm sorry i keep touching my face i'm just my allergies are going nutty right now um i i did take some allergy meds hopefully they'll kick him soon but yeah um anyways um we have a few more people joining the chat here we got john a hey welcome .

Buddy uh denusia and yeah so yeah welcome everybody so yeah without further ado we got a number of people in the chat here so let's sort of get started here um now i'm actually going to pose this out to you guys and see kind of the response .

That i get back um i know there's a few of us in the chat here that are kind of well versed um let's leave the answers hopefully open up maybe some of the newcomers here so in the chat there let me know um to you what's the difference between an account and a wallet .

Okay is anyone able to uh let me know that there we'll go over that in just a minute no problem jess i'm i'm happy to help like my whole point on twitter and youtube and everything is all about education and sharing the knowledge that i do have that i've been .

Able to accumulate over the last couple years and i want to bring that to a point where you know it's accessible for everybody so that's why i do the uh videos here so uh welcome john bell all right so not really seeing much in the chat there .

In regards to an answer so i'm actually going to go through and drop up to the board here and uh kind of break it down so apologies i i'm in desperate need of cleaning my office recently ended up having a flood and it sort of uh .

Well had to move a bunch of stuff around so there we go all right so to break it down let's start at the very beginning here all right so the first and foremost what we need to start at is the xrp ledger itself right so we'll just go here and we'll say we'll make that a little bit bigger just .

So y'all can see it so we have the x r p l all right so this here is the xrp legend essentially the xrp ledger .

Is a network between like computers that all resolve to like the consensus algorithm and so forth and all the transactions and whatnot get uh correlated to the ledger here which you know in other terms would be like a blockchain .

So when it comes down to it and we end up creating an xrp account okay whether that's in zom uh ledger nano uh trezor lapel a paper wallet a tantrum card at any point that you're creating an xrp .

Account right the account is actually being created on the xrp ledger itself okay so essentially here what ends up happening is i'm going to say here code ward so i end up creating a new xrp account right .

That account is created on the ledger so while the action itself may take place in a wallet and you're given recovery keys and so forth the account itself actually lives on the ledger not in your wallet so to explain that a bit more basically .

Whether you have as i said uh some wallet treasure ledger uh ellie pal paper wallet descent kobo or any other kind of wallet that will hold an xrp account that xrp account doesn't actually live in the wallet the wallet itself essentially just holds the keys and .

Gives you signing authority gives you the ability to sign the transactions so what can happen is i can create an account in say treasurer or sorry ledger we'll say so if i have uh you know my ledger nano here right i can create an account on my .

Ledger nano okay now when i create an account on my ledger nano that's going to give me a 12 or 24 word nano right so a group of 12 or 24 word uh recovery phrase so that recovery phrase can actually be .

Used in any other wallet so you can actually move the account between wallet to wallet so i could move it from a ledger to a trezor to zom to uh descent or any other wallet that supports an xrp account okay so essentially what ends up happening is a .

Wallet is a form of interface okay so why you have here so i'm just gonna draw a there not sure if you can see that too well but here i'll make it a little bit bigger .

So there we go so yeah so now we have a wallet right so this wallet interfaces with the xrp ledger so the account itself .

Has access to the wallet or the wallet has access to the account and passes that information through to the ledger so it kind of acts like a little bit of a middleman okay so essentially what ends up happening is you have your recovery phrases you also have your ability to sign and transact .

You also have a means of viewing your balances and those are the basics of a normal wallet now there's other wallets like say some that give you increased functionality so with some via some of the x apps it allows you to basically sorry like add uh truss lines and so .

Forth you can also go through and create escrows so if you're true diamond hands and you're like i'm not touching this xrp for 10 years and you're legit about that 10 years go ahead and create an escrow diamond hand's got nothing on an escrow .

Obviously not financial advice like anything i say in here is strictly for education educational purposes this is not financial advice i'm not saying or suggesting you go lock up your funds for a decade like that's use use your judgment .

All right a little bit of common sense so just going to take a look at the chat here hey we got forex cadet in the chat everybody say hi to forex cadet that's the man you want to thank for the tipbot there awesome job buddy like .

The expansion of the tipbot is it's awesome we're going to touch on that later in the video as well because like that gets into you know apps and x apps and interfaces and so forth as well really cool xop if you haven't checked it out go to tipbot.tips actually whoops .

Apparently i'm kicking over a vodka bottle okay so there you go okay all righty so jess um so my xrp and airdrop coins are on my zone wallet um i like being able to see them there do you suggest to have a tantrum card .

Okay so i'll get into talking about tangent cards because tangent card basically gives you the um like essentially like cold wallet like a ledger nano would but in the form of a card so we can definitely we'll definitely touch on that as well .

So essentially what ends up happening is um to kind of step back a little bit here is you have a wallet and then i mentioned here or you did mention that like you know you have your xrp and your airdrop coins on your son okay so again this kind of goes back to actually what .

We're talking about is that the xrp and the airdrop coins or the xrpl tokens like csc igc uh loxcoin uh bitcoin ads uh all the ones that we're seeing coming out there's there's a lot of them i'm sorry if anybody from the other projects is watching and i haven't mentioned a .

Coin it's there's a lot um for more information check out uh gadget78's website which is gadget g-a-d-g-e-t 78.uk there's a whole spreadsheet that breaks down all the information of all the different coins it has a rating system and all different .

Information towards uh websites and white papers and so forth again sorry i don't need to detract here so essentially i'm just going to pop this up a little bit here there we go all right so essentially as you were saying there just says that um .

Your account is in like some is an interface it's a wallet which allows you to interact with your account on the xrp ledger so as i was mentioning your xrp account lives on the ledger itself right and then the wallet interacts with that account .

So while your xrp and xrpl tokens do show up in some okay essentially they actually live on the ledger not in your wallet your wallet just actually holds the public and private key which then is an interface to allow you to interact with that okay .

So another example here um that i want to touch on is as well like interfaces so um say xrp toolkit and xrp toolkit is another interface that also incorporates access to the depths and so forth .

So as well with the xrp ledger here it also has a dex or a decentralized exchange and that's built right into the xrp ledger it's not .

Layer 2 technology or anything like that that's that's built directly into the xrp ledger so if you are a developer and you're looking for more information you can go to xrpl.org and there's a lot of documentation uh take a look at there uh we'd say also has a .

Whole bunch of uh different tutorial videos that would help in uh if you're looking to develop there so essentially here there's a bunch of different uh interfaces for uh interacting with the decks itself here .

So there's a few here from well zom while it is also a wallet is also an interface to the adapts there there's also xrp toolkit there's also sologenic there's also gatehub and as well .

Um it's down sorry my uh writing is getting atrocious all right there we go so these here are all interfaces to the xrpl and the dex itself okay so the difference between a wallet and an interface .

Is that an interface basically is like a front-end client that will show you the information but you can't directly sign transactions and do uh things like that right so with so sorry that's .

Zom is a bit of a it's a wallet but it also is an interface and it works in tangent with itself in that regard so zom has a wallet and an interface so take that one as a little bit of a one-off here but in regards to like xrp toolkit sologenic gatehub and bitstamp .

These are interfaces to the decks which will allow you to view your account you can create like an offer and so forth but to actually sign the transaction you need to do that with a wallet so more often than not like some like myself i like to use xrp toolkit and .

Then to sign those transactions i connect my sum account to xrp toolkit and then when i create an offer or like make a buy or trade or add a trust line or anything like that the transaction request actually goes through to my some account and then i sign it using x because zom is where .

I hold my public and private key that gives me the signing authority over the account okay so with that being said is that essentially interfaces like wallets are interfaces but not all interfaces are wallets does that make sense .

All right hi benchmark thanks for stopping in buddy and uh yeah so anyways so yeah as i was saying wallets are interfaces but not not all interfaces are wallets so an example of that is like xrp toolkit okay it's not a wallet .

It allows you to interact with your account you can see your account you can see the balances and then like it has other features like you know trading creating escrows uh adding additional functionality like turning a wallet into a multi-signature wallet .

Um there there's a whole list of that we can go over that in a little bit here so essentially what ends up coming down to is that the common misunderstanding that i've seen on like twitter and so forth is a lot of folks .

Are thinking that their wallet like some or their ledger is their xrp account but that's just where the private keys are being held so with that being said is that my wallet like so if i pull up my phone and i have some right .

Uh zom holds my private key it gives me authority and signing a bill or signing authority over my account it's what basically lets me sign the transactions and so forth so what ends up being is that a wallet will hold the key to give you the authority an interface holds the public key .

Which will allow you to see all the information and so forth but to actually sign the request you need a wallet connected that has the ability to sign those transactions for you alrighty so basically yeah it comes down that the .

Account lives on the ledger itself not in your wallet the wallet just holds the keys to sign for the account all right so with that being said i'm going to see here are there any questions with what i've explained so far in regards to accounts .

Wallets and interfaces there so i'm just going to clean this up here there we go all right so yeah if there's any questions about uh wallets interfaces and accounts into what i've explained here feel free to drop them in the chat and we'll address them there in the meantime .

We're also going to get in and touch on assets and trust lines okay so if you have questions drop them in the chat for the moment i'm going to start uh talking about different assets and how trust lines work and so forth on the xrp ledger .

There so as mentioned xrp ledger is basically where thank you very much supercrypt um so xrp ledger is basically where everything lives like everything that happens happens on the ledger your wallet .

Your xrp toolkit sologenic gatehub they are all interfaces to the ledger the magic and all the inner workings all the cogs all the all the stuffs happens on the ledger itself okay so with that being said we have .

Actually let's switch this up we'll go to a different color so with the xrp ledger obviously the primary asset on the xrp ledger is xrp itself okay so xrp is the primary and native asset of the xrp ledger .

Right now there are other assets that have been created we've seen these coming in the forms of the trust line air drops and so forth again i apologize for my allergies you're driving me nuts right now but getting back to this at hand um .

So we've been seeing a lot of these assets coming down the line here and that could be everything from like you know csc uh igc or in-game credit or ihunt uh there's also well solo is another asset that's been on the .

Uh xrp ledger for quite some time uh there's also other ones like cx-1 or of course x uh there's also uh loxcoin um oh man i need the list up in front of me it looks like there's too many but you get the idea .

Essentially there's a whole bunch of tokens being created on the xrp ledger itself here now originally these were referred to as ious and essentially what ends up happening is you'll have someone say like myself or another individual who will issue a new .

Asset on the xrp ledger now this would be um this is done in a couple different uh steps like you would need an issuer account and a distribution account so i'm not going to get too far into that because i honestly i need to brush myself up that's uh something i haven't .

Touched on too much myself but something i do i i do want to learn more about so that's something that i'm going to go and research myself later on but back to what i'm uh discussing here so xrp being the native asset on the xrp ledger we also have a whole bunch of other assets as well like csc solo cx4 .

Models etc okay now these essentially are all tied to your xrp account okay so as i said you're here so there we go okay so as i said your account lives on the xrp .

Ledger right and so do the assets that are issued so what ends up happening is that an asset is basically another token offered on the fsrp ledger and that ends up being like so automatically apparently i can't spell um so we end up having so xrp when you create an account you automatically have .

Xrp tied your account because that's native asset to the xrp ledger what you can also end up doing is adding a trustline or an asset to your account there now this is basically offering up a um sorry a line of trust for lack of .

Better word is basically saying that i give my account access and authorization to interact with another uh asset so in this case we'll say csc or casinocore so now my account can now interact with both xrp and casino porn right now .

The thing is that and this is what i've seen is that there's a number of people on twitter that are posting up the issuing account of casino point saying that that's their address because like they go into the events and they see the trustline ad and they see this address and they're like oh that must be my address no .

Um the thing is in with the xrp account your xrp account uses the same address for all assets so it doesn't matter if it's xrp csc solo igc logs or any of those assets all xrpl assets use the same address so if .

You're in your zom account and you open up some right up at the very top you have an r address your xrp address that xrp address is a same deposit like that that's the same address that you would use for all assets within your account so that's not specific to some like even .

If you were to turn around and take the xrp account move it off into ledger like loaded up in your ledger nano right now there's not support for xrpl tokens however what you can do is pull your xrp account into ledger and you can still send those assets over to the xrp account that just .

Won't show up in ledger live until xrp token or yeah extra pail tokens are supported properly but so this is a perfect example of how the address is the sorry focal point of your account so .

It doesn't matter if the account is on a device that doesn't have access to the xrpl tokens you can still send tokens over to that account just using that primary xrp address so with that being said is that if you do go through and you send tokens to an issuing account like say you send cse to .

The issuing account the issuing account is black hole which means it can't create funds like you can't make more coins you can't sign transactions and as a result any funds sent to it are lost they're black hole that's why it's called a black hole account okay so .

Again i apologize for my allergies but uh yeah so essentially here and i'm going to fix this because this is driving my a little bit of ocd nuts there we go all right so let's check in here all right perfect .

So alrighty so now we have our account it has assets and trust lines so different assets as i said live on the xrp ledger and these can be created by you me a company or whoever else so like we've even seen say jungling he created .

Uh jungle coin back in the day that's an asset on the xrp ledger you can create a truss line for it and you can interact with jungle coin if you want um i'm not sure if there's the standing of that token i'd have to look into that but it's a perfect example like anybody .

Can create an asset on the xrp ledger you it's an open source ledger anybody can do anything if you want to create a trading bot and you know how to create it by omnius you want to develop an x app or even a website that interacts with the xrp ledger if you want to create a .

Um an e-commerce site that you know we said wouldn't all created a wordpress plugin for or well updated the woocommerce plugin to be able to accept uh xrp payments and so yeah there's many different ways to interact with ledger and as it's open source anybody can do so .

And that's what i keep saying and coming back to is that if you have the ability to create something go for it like the more development and adoption that we see in the space it's just gonna snowball like and it that's even how it comes to with uh liquidity on the decks liquidity that gets it liquidity adoption he gets .

More adoption you know it's like amazon back in the day they started out as books well people started buying books and then they requested well i want to buy books but i won't also want to want to buy this so you know adoption store snowballed and now we have a full like i don't even know what to classify .

Amazon as now like you can see but getting away from what i'm saying so when it comes to assets and trust lines on your account essentially what ends up happening is when you add a truss line you're extending a line of trust to that asset saying yes i want to interact with that and as such you can also set limits so .

If you want the uh trust line added you can put the value of zero and you can make it so nobody can send you that token you just want to have that line of trust not sure exactly what you would do that for but it's possible and as such like obviously most of us .

Want to interact with it so we just set the limit of it like usually at whatever the maximum supply is so that there's no limitations there um but essentially that's what it comes down to is that the xrp ledger is a full ecosystem this is where .

Everything and all the magic happens your accounts live on the ledger assets live on the ledger escrows are taken care of by the ledger and essentially what it comes down to is that your wallet is an interface to that to the ledger and to your account and then as well interfaces while as i mentioned not all or sorry .

All wallets are interfaces but not all interfaces are wallets so as such different interfaces interact with the xrp ledger and as well the dax so with that being said you got to remember that basically everything comes down to the xrp ledger and the depths itself .

From there everything else just kind of branches out so wallets like i can create a wall and it has no recourse of any of the other wallets like uh some ledger trezor etc you know it doesn't even have to know they exist but it ends up being an interface that .

Interacts with the ledger shows me my balance gives me signing authority and so forth okay and that's basically what it comes down to trying to kind of differentiate everything and break it down so that people can understand um one analogy that i do end up going for .

Is actually a bank account and this is i think this is a good way to explain it although again some of it sort of gets lost in translation because it's not a one-to-one thing so i'm just gonna go and erase this here um before i continue with the analogy here .

Is there any questions you guys have if so please throw them down in the chat don't be afraid like if i see questions i'll try to answer them and as best as i can and kind of break things down like don't be afraid like this this is an education session for you .

Guys so if there's something you don't understand you have a question you want to drill down into something drop it in the chat let me know we'll take care like we'll go over it as best we can okay so before i remove everything here i'm just .

Going to take a sec and allow you guys to drop a couple questions in the chat there if you haven't and i'm just going to take a sip of my coffee okay so just mentioned she doesn't have any .

Questions so so far is everything like pretty straightforward am i explaining it in a way that's understandable for everyone or am i losing people along the way at all like feel free to let me know sorry again my allergies are going nutty here all right .

All right so yeah i'm uh not seeing anything in the chat right away so i'm just going to go clear the board here all right perfect thank you supercrypt and so yeah i'm just going to clear the board here and we're going to kind of break down the analogy and so this will .

Kind of break it down in a layman term so to speak um jay is there a limit to how many tokens can be created on the xrpl no um you like as it stands right now if you go to zomdot community i believe it's some dot community .

Tokens here i'm just gonna pull this up on my other machine here uh zone dot community and then we go xrpl tokens uh let's see just pulling up all the information okay so right now there is issue tokens there's 5904 different tokens that live on the xrp .

Ledger right now so there's a lot and so no there is no limit if you want to create a uh token and you want to call it jcoin right you can create that right now and if you wanted you have 70 billion or you know if you know if you wanted to you could have .

Like you know 10 trillion tokens it doesn't matter you set the limit like mind you kind of gotta like look at what you're planning to do with the token so i think before anything before even the idea of creating a token is figuring out what you want that token to achieve figure out your use case find .

The problem that you're trying like that you want to solve from there you can derive basically what your supply should be or maybe at least a rough idea of what your supply should be because like if you just turn around and create a token and you're like okay i've .

Got this token but what do i do with it you kind of it kind of defeats the purpose like you're creating a token looking for a problem the best way to approach it would be to find a problem find a way to solve it and if it uses a token go ahead and create one if you can .

Solve that problem without you creating a new token you don't need to create a new token you unders like you get what i mean so so no in that regard there's no limit to the number of or however many tokens that you can create on the extra pl if you .

Want to create a coin called jcoin and give it a supply of 10 trillion coins you can do so mind you supply versus demand economics tokenomics and things like that will drastically kind of affect things as we've seen with some of these uh airdrop tokens and so forth .

Okay all right thank you very much nancy i appreciate the uh vote of confidence there um radio gui um yes there's a lot of sites that interact with the xrp ledger as we're talking uh here uh .

Xrptoolkit.com sologenic.org uh gatehub is a github is a hybrid exchange so they're like a centralized exchange but they tap the decks for all their orders like all the trades that happen from gatehub take place on the uh xrpl decks here okay so they are like a hybrid exchange almost so they're like they're .

Centralized exchange but they don't have their own order books they tap into the decks for all their orders um so in that sense i would consider them a site that interacts with the xrpl so um if you're looking for more uh developer related things like uh documentation check out xrpl.org .

And there's a lot of information available there okay um okay that's not coming up with the links i should have added the https but can just copy and paste that into your browser um so to access gatehub uh you just go to .

Github.net uh bitstamp i believe is also bitstamp.math um i do also have a video uh let me just see here um there we go so i just dropped the video in the chat for you there uh jay and this one is called um importing your gatehub account into zom so this goes from the very start like i this was a brand new gatehub account i .

Created and it goes through everything from funding the account um wait maybe not oh wait yeah so i believe the yeah okay sorry so there's two videos here sorry my .

Apologies so the first video there that i posted is uh importing your github account into some this is a brand new account there's no funds added to it it's basically a xrpl account that hasn't even been activated i just took the secret pulled .

It into some and that's basically how you'd go through and import it into zone uh the second video there that i posted is the uh utilizing bitcoin on the xrpl uh via gatehub that goes into a bit more detail into funding your account uh adding the bitcoin trust line and interacting with bitcoin on the geek on github and the .

Xrpl that can also be applied to other tokens whether it's litecoin ethereum and so forth it's the same thing you add the trust line and through gatehub there will be an account that you send your funds to and then github basically takes your ethereum litecoin bitcoin whatever it is and it'll convert it to a xrpl .

Asset uh basically an iou and essentially what ends up happening is you can transact with that xrpl or that uh iou on the decks there so you'll see via like github or sorry well yeah gate hub uh xrp toolkit and sologenic you can trade bitcoin on the .

Xrpl and it's just using the uh basically uh iou or uh bitcoin token that's wrapped on the xrp ledger there so with that being said like the utilizing or the second video there uh utilizing uh bitcoin on the xrpl that goes into basically on-ramping off-ramping it also gets into trading .

Across different aspects of using the gatehub website uh the gatehub trade x app within zum it also touches on uh trading with xrp toolkit and so forth there so that video is actually quite informative if you're looking into using like rap tokens is basically what it'd be called so bitcoin gets wrapped it's in iou on the xrp ledger .

So uh yeah feel free to check those videos out uh if you want there there they should cover i believe the questions that you're looking to ask there so yeah and exactly the transaction fee is low when you're trading on the extra pldex it's the network fee you pay 12 drops .

Like .00012 xrp per transaction mind you yes there is a well actually i think with the reserve update it's now 2xrp to post to trade and then once the trade is completed like filled or killed that 2x rp is put like it's reserved and then once the trade's .

Done that goes back to being part of your available balance so the xop never actually leaves your account it's just taken away from the available balance and held in reserve if that makes sense all right so i got a couple questions here from uh big ted i bought some .

Coins on xrp toolkit and i use zom wallet to sign the transaction i bought so much on a limit order and i must not had enough xrp in some and i owed about 35 extra fee because every time i would have it okay that .

That is a bit odd i've never seen a i've never seen uh a balance owing like that uh usually as far as i understand it would be um basically it would fill up to the available amount that you had um owing i'll have to walk into that big ted that's a new one to me i if that is that .

That's something new to me i'll i'll definitely have to look into that and get back to you about that okay but um i got to do a bit more research to uh kind of get that sorted out um okay .

So now we got another question from jess here so i saw some info on global id downloaded the app but i'm not sure i want to link my zomwallet to that what's your take on that um it's this is a kind of a gray area well not a gray area but this is a area that's open to discussion .

And debates uh just as um it gets into identifying and verifying like uh kyc so saying that this account belongs to me i am a person this is my verifiable information i have kyc this is my account and now for .

People who are uh say trying to do some shady stuff they're going to avoid that like the flag um if you're doing stuff and you're not like if you're doing stuff legitimately and you're not like you know trying to circumvent tax laws or you know doing uh stuff that you know could be .

Labeled as criminal or anything like that then it comes down to a point of it's just basically a verification saying that i own this account creepy um that i own this account this is my account and i can be there i can verify .

It now this will prove beneficial for other apps and x apps down the road so like the uh casino coin lobby okay um i have an account that is kyc verified yeah like i've i've done this uh myself for one of my accounts and so this basically will allow like .

With my csc account here i will be able to once the csc lobby goes live i can kyc once i can verify my zom account and that will actually allow me to open the doors for um access to multiple casino operators by only doing kyc ones .

So what ends up happening right now is if you want to go through and set up with multiple online casinos you got to go through and kyc for each and every single one of those casinos using the csc lobby it'll be a one like kyc once and you will have access to a whole bunch of operators and any future ones that are added down the road .

So this opens the door for um verification and so forth and also to cover yourself for like tax laws and so forth so like you'll be able to uh go through and all that like the tax information is properly reported and so forth like that so in that regard it's highly beneficial so it kind of .

Comes to what end of the spectrum you're on if you're uh in crypto as a good actor or doing things by the book as it should be then you know what it is what it is like it's a way to verify that the account is yours and .

Approve ownership over the account as well um on the flip side of things if you're coming into crypto with the say anarchist approach i'm not paying my taxes and so forth you're probably not going to want to do that because like .

Kyc and aml law is bringing to a point that your account's not verified that like that account is associated to you you know so that's kind of where it comes in um my personal opinions on it as i said like i have an account that is verified because i do .

Aim to utilize the casino coin ledger or casino coin lobby uh in the future there and to do so kyc ones and have access to multiple operators hey that's a plus in my books um so yeah uh with wesley's question here so your reason for using xrp toolkit for stacks available on some through github .

Because of the available trading pairs and custom errors um okay so xrp or wesley uh xrp toolkit is as well access to the depths like um zom xrp toolkit sologenic github bitstamp they all access the decks they all use the same order books right so .

The difference is uh some of them like sologenic have implemented the pathfinding algorithm so it's sologenic you can trade csc versus btc or you can trade csc versus what uh litecoin um or whatever other trust line that you have like it'll go through and do the pathfinding algorithm where it'll say .

Okay uh you want litecoin well we have casino coin to xrp xrp to btc btc to litecoin or you know it'll go csc to xrp to usd to litecoin and it'll find the cheapest path to go there and so that's another aspect that has been built out which is the pathfinding algorithm .

So there are different benefits to different um interfaces here so like xrp toolkit it's basic bones it's it has access to the decks it has set pairs that's it everything is paired against xrp okay .

So if you wanted to go through and basically do your own pathfinding there you would have to figure out and do the calculations of which way should i go um where sologenic has the custom pairs uh gatehub and bitstamp are much like xrp toolkit where they'll have the uh predefined pairs there so that's something you'll want to take .

Into account hopefully that clears up your question there alrighty and so jay if a trade is cancelled um going back to what i was saying about the reserve balance for creating a trade um when you create a trade on the dax it reserves what used to be 5xrp but i believe with the .

Updated reserve of ten and two two xrp gets reserved for a trade so when i do a offer create two xrp gets reserved know if the order gets filled that 2x or p gets put back into my available balance likewise if i cancel the order that 2x or gets put into my available balance .

It's just basically a reserve to keep the trade open on the decks and it's a anti-spam feature of the xop ledger so that we don't have bots and so forth coming in and just filling up the decks with bogus orders so it's actually a security feature of the extra pal and the decks itself to keep the ledger from being spammed with .

Well bogus orders so uh yeah so yeah um ious bitstamp also yeah so um so there's a number of uh different uh ious or assets offered by different uh gateways so gates or yeah gate hub and bitstamp are gateways for on and off ramps so .

With both gatehub and bitstamp you can create an account with them send them usd trade your usd for xrp btc or whatnot right so they are a way to on and off ramp in and out of crypto um yeah so um basically what ends up happening is that .

Yeah like you can create a uh in say zom say you import your gatehouse gatehub account into zom you can uh trade directly from zom using your gatehub account and you can you can do everything from one account on on and off ramp trade and so forth like you can even send .

Funds back and forth and whatnot and you can have your gatehub account in zom you don't need another account like you could create the gatehub account import the secret into zom and not be the only account that you have in zom and that's all you have to worry about and then some acts as a wallet interface .

Which gives you access to for the rex apps like uh once it launches the cse lobby would give you access to the pathfinding algorithm uh the gatehub tradex app so if you're on the go and you don't have access to your computer to log on to github there's uh x app within zom that's the github x app um you could also use the .

Direct in uh in some exchange feature which take note if you're exchanging within zom using the like you tap on the asset trust line you hit exchange this is equivalent to making a market trade so take into account that like doing it that way it's market market buys and market sells um .

Yeah so essentially if you use a different feature like say github tradex app uh xrp toolkit sologenic and so forth you can set limit trades and that's saying that um sort of backup sorry a market trade is basically saying look i want a thousand .

Or sorry i have say 100 xrp give me as much cse as i can get for that 100 xrp make the trade that there is basically a market trade give me what i want i don't care what i pay for just give it to me limit trade is saying like i want so .

Much of x asset but i'm only willing to pay this price i don't want to pay more than this and so that's more of a give it to me now but i don't want to pay more than this so if it costs more than this just put my order on the books and let it sit there and wait to be filled all right .

So okay jay yeah so that's exactly it so um when you were on the you initiated a limit trade using sologenic or zom wallet the 5xrp disappeared it didn't disappear it was just put into your reserve balance and so that's basically it it's uh when an order is created or whatnot it .

Reserves that xrp and it holds it just until the order's filled or killed or well killed being cancelled so and that's just basically as i said the anti-spam feature of the xrpl and the dexter uh just to keep people from popping up and filling it up with bogus orders .

So um all right awesome i'm i'm glad you're finding this helpful just like yeah like this is what i'm here for is just to basically impart as much knowledge as i can so as i said if you have questions this is awesome feel free to drop them in the chat and i'll .

Address them as we go so i mentioned oh sorry gs is in here and how does xrpd usd work on the xrpl okay so as i was mentioning gatehub and bitstamp are on and offerings or gateways uh to the xrpl and the decks there so basically what ends up happening is uh gatehub and .

Bitstamp offer up a usd iou it's a one to one there's no like i know how with uh tether like usdt or usdc there's it varies from the us dollar price point right so a tether could be like one cent above a dollar the get github and bitstamp iou are .

One-to-one it's it's it's a one-to-one peg it's like if you deposit usd you get usd um now with that being said it is again an iou uh basically saying okay i deposit my usd on the uh .

On the github right so i send either a bank transfer or see the payment or whatever it is there and uh sorry um and so basically what ends up happening is github says okay we've received your uh us dollars .

Here's an iou for the us dollars that can be transacted with on the xrp ledger so essentially it becomes like a token or an asset on the xrp ledger here like these guys up here so xrp cse igc so on so forth there's also so there's also a usd and uh there's also a euro as well .

So you can transact with euros as well so essentially the usd becomes a token on the xrp ledger so it's issued as a one to one right so if say i deposit 50 i get 50 worth of usd so uh 50 usd tokens .

Right if i deposit 50.49 i get 50.49 usd you know what i mean so it's it's straight one to one there's no variance of uh being oh the the iou is worse uh worth a dollar point one or dollar point zero one or whatever .

It's not like that it's like straight up a one-to-one relationship so that being said uh when you end up trading on the decks there or on the on the xopl essentially what ends up happening is as we said before um .

On say xrp toolkit or sologenic they all use the same order book so when you have the usd or xrp to usd and it says okay so what's uh here a perfect example right now let me just pull up so right now at this very moment vitru .

Shows okay there we go okay so actually it just changed so we'll just go with this so right now xrp is worth a dollar five okay so essentially being is that the usd token is straight uh usd value so uh what ends .

Up happening is it's not like a usdt or usdc which varies from the usda sorry i keep repeating myself but uh it's a straight value thing so if i have 50 and 49 cents i deposited and i want to trade for xrp at a dollar five and there's order like say there's a sell order at a dollar five i can turn .

Around and just make a trade whether it be a market trade or i can set it as a limit trade if i say i only want to spend half or whatever the case and then i would get basically enough xrp to fulfill that fifty dollars and 49 cents so it's a straight value trade there um .

So with that being said what ends up happening is all right so uh github offers the usd token so again what ends up happening is you send a bank transfer or uh cpa payment or so forth and github receives that us dollars us dollars gets turned into the usd token and that gets deposited into .

Your account so if you take a look at the video the one video that i posted which is the uh utilizing bitcoin on github uh same promise right so you deposit usd and or btc your litecoin ethereum and it gets converted to the corresponding xopl token asset .

Or the ilu and so what ends up happening is it's just basically converted to a token that can be transacted with on the xrp app so when it comes to a point that you want to sell right so you have a gatehub account what you can do is hop on the decks you can trade your xrp for usd .

And then say you have a secondary account you're using zone uh or secondary account for zone and your gatehub account is separate and what you would do is just basically on your in some you trade your xop for usd and then you can either send the usd to gatehub and .

Offer it or you could even turn around just send the xrp to your gatehub account trade the xrp for usda offering there's many different ways to do it and yeah so that's basically what it comes to when uh transacting with like usd and .

On the xrpl um if you don't have a github or a bitstamp account you're not going to be able to offer it though so um if you're in zom and you've never set up a gatehub account or bitstamp you can hop up and zoom tap gatehub and add the usd iou and you can trade xrp versus usd all .

Over the xrpl as much as you want but that usd is going to stay within the xrpl ecosystem to actually offer them that you would need to use a associated uh gateway whether it's github bitstamp or so forth and so then that's how you would go about actually withdrawing that usd off the xrpl ecosystem is through a gateway .

Like github or bitstage there so hopefully uh that clarifies that there alrighty okay oh sorry wes um so okay so when it comes to uh the different uh services like xrp toolkit uh .

Sologening github bitstamp um yes and no um to actually trade on the xrpl or on the dex the fees are the same so there's a slight variance i'll touch on that okay so like if you're just trading like xrp versus uh csc or any other asset on the decks .

There it's all subject to two things okay so the network transaction fee of the xrp ledger is just 12 drops so to make a trade it's 12 drops okay that being said some tokens do have an issuer fee so like i believe sologenic .

Um and a few others uh actually have like a i think it's like a point two percent uh fee so even gate hub uh github offers the bitcoin um iou and they offer a .

Uh they offer it to be traded but the iou itself the issuing asset has a issuer's fee of 0.2 right and so basically what ends up happening is that when you make a trade for xrp versus btc on the decks you pay the network transaction fee of the 12 drops .

But then 0.2 percent of like there is a fee of 0.2 that goes to the issuer uh for facilitating that iou for you and it's basically like the fee for them issuing the token and offering it to be .

Traded um so like casino coin as far as i'm aware there's no there's no fee for there's no issue or fee it's zero um with uh gatehub they're issuing or their issue tokens i believe do have a issuers fee i can uh actually pull that up here just one .

Moment pull up github here uh no i'm not logged in okay so just take a quick moment here okay and just need to put in my 2fa here okay all right so okay so i'm not seeing it here .

All right so if it's not there then maybe it's via zone dot community all right so that would be something to have more information on okay so perhaps it's via .

Zom i can should be able to see this sorry folks i know when you end up adding a trust line within uh zom itself um it's like if i were to go to uh gatehub here and i say bitcoin add and sign transaction there we go okay so yeah if you hop into .

Zom okay uh there's and you go to add a token so say you go to you go into zom you hit add token cl tap on gate hub and you select btc not sure nah it's not gonna show it there sorry uh maybe if i turn down the brightness here .

Maybe yeah there we go there we go okay so you can see here there's an issuer fee of 0.2 percent um so yeah when you go and add a token via the uh say gatehub or whatnot it breaks down the details of the token itself it gives you like the issuer the issuer fee and so forth there .

Um at that point it'll tell you if there's any fees associated with it so that's as i said uh basically the fee that the issuer takes whenever you make a trade so if i send even if i were to send you uh the gatehub btc uh point two percent would be taken as a fee .

If i trade it 0.2 percent gets taken as a fee from the issuer and that's just basically so that they end up making a profit for offering you that asset or iou there um so essentially no uh different taxes don't have uh different fees they're just different flavors so to speak so xrp toolkit .

Sologenic they both work the same way they both access the same order book um the only fees that would be associated with would be issuer fees of the asset itself so sologenic offers the sologenic token and the sologenic token does have uh an issuer fee associated with it so if we were to hop into zom .

We can pull that up and find out exactly what that is actually so um let's just see here i'll pull up an account that actually no i don't think i no i do have it on that account so we'll pull up this one and we'll say add sologenic add token and .

Okay so sologenics issuer fee is actually point zero one percent so it's actually like five percent um the btc issuer fee of gatehub so yeah for every uh what do you call it for every one sologenic token that's traded .

You end up basically saying uh one time okay so yeah so for every one sologenic token that traded point zero zero zero one sologenic goes back to solo or the or the solo team the issuing account and that's just basically their fee for facilitating sologenic and that .

I think would basically just cover their fees as well at that point um but yeah so uh with that basically said so no the dexes themselves don't charge different fees um essentially they all use the same order book which uses the x or pl and the xrpl .

Charges a fee of 12 drops or point zero zero zero one two xrp should be four zero zero sorry but anyways it charges 12 drops uh to facilitate a transaction on the extra pl if the issuer of a token has an issuer fee then that is charged in .

Addition to the uh network fee and that just goes back to the issuer there so that's not dependent on um the decks that you're using that's dependent on the issuer themselves of the token that you're trading against or with .

Yeah i agree um if everyone were to reduce to using the decks uh definitely um wait might be handy if everyone is reduced to dex can it handle all orders business etc yes and no um currently in the standing of the decks the dex is kind of .

Like it's it's liquid in a lot of places like say xrp to usd and so forth or xrp to btc there are a lot of more liquid pairs but there's also illiquid pairs and those are the ones you see when you hop into zom and you say okay i'm going to tap the exchange option here and i'm going to trade .

Um here a prime example here would be if i go to this account here and i say okay so i want to trade say uh btcx and i hit exchange yeah there we go so down at the very bottom of again my screen's too bright i'm sorry .

Folks uh down in the bottom it says here the price is different or the price difference between selling and buying orders is too high so basically what that means is that the dex is a little like a liquid meaning that the spread is too big so the point between the lowest sell order and the highest buy order is too big to facilitate the trade properly .

And so um zum basically says like look the the spread's too big we don't want you to get a raw deal so please hop on to like xrp toolkit or sologenic and use a limit trade okay because if we do a market trade there's a good possibility you're going to end up getting a raw deal and we we .

Don't want to see that happen so you know kudos to the team for that um so yes and no like if everyone was reduced to using the decks yes i would say yes because essentially liquidity get begets more liquidity so the more we use the decks the more we set limit orders the more we .

Provide liquidity to the decks the more liquid it becomes the more useful it becomes and then we don't end up running into issues where we have the spread being too big because say we have market or like traders on the decks uh like i'm not a trader myself but like even if you were to set up like a .

I don't know like a market maker bot right you could set up a market market make a bot to play around on the decks and just basically trade against itself and then it just basically buys low sells high buys low sells high you know sells low or sells high buys low or however you want to like you know .

And so yeah like the more liquid we make the decks the more business and limit trades and so forth that we bring to the decks the more liquid it becomes the more stable it becomes and the more that yes it would be able to handle everyday business .

And so that's where that comes into play is that yeah like the more that we utilize the decks and put limit orders and set like admittedly i it's half a joke but like i have a hundred xrp sitting on the decks right now at a sell order for 100 usd .

So technically technically i'm providing liquidity to the decks at a hundred dollars for an xrp you know what i mean um while that might not be realistic at today's current price you know down the road who knows but the fact is that limit order is sitting on .

The decks that does provide liquidity to a degree to the decks that you know if somebody runs up the order somehow all the way up to 100 bucks i got an order sitting there uh ready to fulfill that 100 order so yes um yes and no so right at the current standing is that if we were to just dump .

Business on the decks and say go for it i think we would see some excessive volatility on the decks that would probably put some folks off especially businesses and stuff but if it's just like small things like say i'd say i run a mom-and-bop mom-and-pop uh convenience store right .

And i offer xop payments via the decks and i've got people coming in spending 20 30 bucks or something like that yes you could probably facilitate that using the decks but if you've got a company like say mastercard or visa deciding to just green light the decks for you know their however many i think it's like 1.5 billion transactions per day .

That's probably not going to fly as well not unless there's the limit orders to support the liquidity you know what i mean so um to answer your question it's a yes and no but it's also the no is also a yes because as i said liquidity begets more liquidity the more .

Liquidity we provide the more becomes available because it could be it becomes more enticing for other folks to join in and start trading on there which then creates a whole snowball effect for liquidity on the ducks sorry to keep saying that over and over but trying to say it in a different way to kind of .

Convey that so anyways uh that being said and okay so j are github and bitstamp centralized exchanges with access to the xrpl dax um so that's what i was mentioning before is that they're uh they're more of a hybrid exchange so they are a centralized exchange in the sense that .

You would register with them you sign up an account uh to on and off ramp like usd and so forth and like you can move other assets like bitcoin ethereum litecoin and whatever what other assets that they offer right so uh in that sense they are a central .

Point for on and off ramping usd euros bitcoin ethereum litecoin and other assets on and off of the xrpl however the trading is decentralized because it uses the xrpl dex's trading books so it's it's it's a hybrid as i said so it's like .

Centralized in the sense of on and off ramping um non xrpl tokens but it's decentralized in the sense that all the trades that happen are on the decks so even when you're trading xrp versus btc that happens on the decks so in that sense it's .

Using the decentralized exchanges order books but to on and off ramp non-x or pl assets it's centralized in that manner so in that regard it's it it's a hybrid exchange i would call it hey no worries christopher welcome to the show .

Um so yeah um what about is a centralized exchange so they have their own order books that are separate from the xrpl decks um they are they do on and off ramping they have other assets like bitcoin and so forth and all that happens within .

Their order books so bitru is a straight centralized exchange um sean uh once i turn xrp into usd how could i put that into my bank so as mentioned if if you have the usd trust line on some and you trade x or p for usd you would need either an account with .

Gatehub or bitstamp to offramp.usd so what you would do is there's two ways to do it is one is you set up an account with gatehub for bitstamp and when you have the uh associated trustline in zone you trade xrp for usd and then you send either the x or p or usd uh .

Gatehover bitstamp and so say you send xrp to gatehub then gatehub you trade the extra p for usd and send it off to your bank withdrawal same with bitstamp likewise you could also turn around and take the usd from .

Zom and send that over to gatehub and then you would just from gatehub off-ramp.usd or bitstamp and offering that usd to your bank account so they have github and bitstamp have uh methods whether it's a wire transfer or cpa payment to cover usd or url and you can uh off-ramp that to your .

Bank account directly from uh their services uh you can't do that from zom or the xrpl directly you would have to do that through uh github or bitstamp um so yeah that's how you would go through off-ramping or conversely do it in the opposite way .

Would be your on-ramping so you could send usd to gatehub which or bitstamp which would then convert that to the usd iou right here and uh then you could trade that usd on the xrpl for xrp or other assets there uh so that's how you do uh above or go .

About that there um xrpl nor uh when you merge xrp addresses within does that mean all xrp addresses you have change to on it one address um no so uh essentially what happens with the account merge .

Is you have two accounts on the xrp ledger right and so the account merge basically says that to merge this account you have to remove all obligations assets trust lines any open trades anything like that so the account that you're trying to remove or delete is basically what .

Happens to this account it gets deleted so if there's any obligations trust lines open trades anything like that those need to be closed and closed out before you can do the merge so if you have say the cse trust line on the account that you're trying to merge into any trust lines that you have over here .

You'd want to add over here so if you have the cse trust line you would add the csc trust line and then you'd send the csc over if you've got bitcoin trust or sorry bitcoin trust line here you would add the bitcoin trust line over here send the bitcoin over um same with any other assets once you .

Have all the assets transferred over to the account you want to keep then you close out the trust lines and that'll remove or release sorry the xrp that's in reserve so for each trust line it's two xrp so if you have five trust lines .

You're going to free up 10 xrp into your available balance right so now once you have all your trust lines removed you want to make sure that you have any trades on the xrpl decks closed up so as soon as like once you have all trust lines closed all open trades closed .

Um any any other obligations escrows and things like that you would need to basically close those out in order to merge that account over that being said um once those are all closed out you would then go through the account merge and what the account merge .

Basically does is it'll say i'm deleting this account i'm moving everything over to this account and we're going ahead and go go ahead and do that so what ends up happening is all the xrp that's left over in this account from uh trust lines open trades any other .

Obligations that require reserves will be now in your available balance minus the account reserve so then what ends up happening is everything gets moved over to this account like all the balances so what ends up happening is like including the account reserve so now mind you .

The account gets deleted and as a anti-spam feature of the xrp ledger um with the updates two xrp is burned so if your account reserve as the account reserve is 10x or p you'd have eight moved over from the xrp reserve two of that the other two is burn as the .

Anti-spam feature of the xrp ledger then you it would also move over any extra xrp that you have from trust lines or trades or anything like that so if say after closing out all your trust lines and trades you have a total of say 27 xrp on your account and you delete it and merge to this .

Account this account would receive 25 the other two would be burnt as part of the account deletion process at that point this account is deleted um with that being said the public and private keys still exist but it would be associated with an .

Unactivated account so you could in future turn around and re-import the secret key for the deleted account and reactivate it so the account merge just basically pushes everything over to the account you want to keep and it deletes the xrp account off the xrp ledger .

Essentially making it an unactivated account because to basically break it down every account that can exist that will exist and that has and ever will exist is on the xrp ledger there is a public and private key associated for every single xrp ledger that exists okay .

Or sorry every xrp account that exists so essentially what happens is it just goes from an active to an inactive state and more or less like when you generate the public-private key pair it's just saying okay we have an account this is the public private key here you go .

Nobody else should be able to have access to that and that's where like david schwartz has talked about like the amount of accounts that exist on the extra pl like it's it's like turning around walking on a on a beach picking up a single grain of sand dropping it down .

And then having somebody else walk down the beach at some point and picking up that exact same piece of sand and that exact same grain of sand it's like it's virtually impossible well not impossible but the level of improbability is like infidel like it .

The likeliness of somebody generating the same public private key pairs you is likely never to happen within your lifetime so when it comes to the account merge basically all it does is it takes account b moves all the xrp over to account a .

And then basically deactivates and deletes the account off the xrp ledger and deleting the account is just basically it it's inactive there's no extra p that exists on it it becomes a inactive account it can't be transacted with still technically exists on the xrp .

Ledger because you can reimport that private key and reactivate the account but yeah that's essentially what it comes down to um okay perfect i'm glad i was able to answer your question there uh wesley yeah exactly and like the .

Extra pl decks it's it is going to come in handy real soon like i i've said it before and i've said it time and time again i think it's just a matter of time until centralized exchanges whether through regulation or obsoletion um just basically either cease to exist or they adapt and by adapting they will .

Go the route of gatehub and bitstamp where they access the dexes right and so what we'll end up seeing is we see already that like ethereum has its decks is through uniswap or pancakes or whatnot i think what will happen with ethereum 2.0 uh we'll end up seeing much like the xrpl .

It will honestly i think if ethereum continues on it will have its own decks built in and so uniswap and pancake swap and all these are basically trial runs at how to handle the ethereum decks in future and basically the winner is basically what i think will be .

Incorporated into the ethereum 2.0 um built-in decks is what's going to end up happening is the winner will take the cake and that's what will probably be used um not like i'm speculating here this is just guessing from a technological standpoint .

Um so yeah um and that's the way that i see it going forward in future is that there's going to be more or less like nasdaq so to speak like nasdaq and so forth it's all like it's it all ends up using the same order books there's just one big order book that everybody uses .

And that's where you end up seeing a lot of the liquidity and sustainability in the markets is because it's just one big order book that ends up being used and that's what i think we'll end up seeing with other assets as well is that you'll end up having basically .

A glorified dex that ends up being used that everybody ends up using including centralized exchanges apps and things like that everybody will end up using the same dax at least that's how i see it going um the continuation of what the way .

Things are going currently with centralized exchanges and the way that like even with like songbird draw how exchanges are just holding that back from users that from a regulatory standpoint should not be able to happen and i think that is going to be something that ends up being .

Addressed in the future there so yeah um jess uh where do i find more user-friendly gatehover bitstamp um admittedly i don't have a bitstamp account um github i set up specifically actually just to be able to create a couple videos around github and .

How you or how it works um i i will look into uh potentially setting up a bitstamp account um i haven't done so as of yet that's something that i do have to look into doing so i can't actually give a informed opinion .

On whether i find or which one i find more user friendly if you take a look at the two videos that i posted earlier in chat they are also available in my video like my library of videos there there's the importing github account into some and utilizing bitcoin on the xrpl .

Using github and zone both those two videos should be uh provide you with a lot of information on how it's able to be used i get into like using the trade and exchange functions within gatehub personally i actually found it quite intuitive like github quite intuitive and straightforward um the only thing i .

Really had to look into was uh attaining like the private key to import it into zone and that even only took me about five ten minutes to find the information on that so actually i don't even think it took me that long um so github i do find really intuitive and user friendly in that regard um .

but yeah uh bitstamp i will look into setting up an account with them and trying to find a bit more information on them in future um so uh with that being said yeah i can't properly give a a proper informed opinion on which one i .

Find more user-friendly but github from what i found and via those two videos hopefully you should find it pretty user-friendly and intuitive as well but yeah if there's any more questions feel free to drop them in the chat as well actually what i'm going to do now is .

What i like to do is add the invite link here and there we go so in chat i just posted the uh invite link to the video stream here so if you want to hop on and have a live discussion with me right now and you want to ask questions live you don't have to have your camera on or .

Anything like that but i did drop the link in the chat there if you want to join the conversation feel free um the link is there when you do um if you do decide to join uh you will be added to like a little weight room until i just click you to be admitted .

That way if we're in the middle of a conversation with someone it just we don't have somebody coming in with like a really hot mic or anything like that and uh yeah it just kind of makes it a bit more streamlined process so that yeah if if you want to join you can um and that way you don't end up like .

Yeah just coming in with a hot mic and kind of blurring the stream or anything like that so yeah anyways um so the link is in chat there if anybody wants to join the conversation live here by all means feel free to you don't have to have your camera on uh voice chat's fine that's .

Fine with me um yeah by all means come join the discussion all right so now when i was talking about uh accounts wallets interfaces and things like that i mentioned before that i had an analogy for this .

So i'm actually going to drop to the board here quick and i'm going to clear this up if you all want a screenshot of that you can backtrack the video and kind of take your screenshot before i wipe it out here but .

What i like to do in explaining things is i like to use analogies as it kind of breaks things down for a more layman understanding so when it comes to the xrp ledger accounts wallets interfaces and things like that a good way to understand it .

Like i like to use the bank account now or the bank analogy okay so we'll go through here and banks like money and money is green well at least in the us everything's green here in canada we have a rainbow of .

Money our fives are blue or tents are purple or uh 20s are green or 50s or red or hundreds are brown like we like our yeah we got a rainbow money so anyways so you have your bank right and this is kind of where the analogy comes in is so for um .

So banks basically offer a bank account and this we would refer to as like your xrp account right so you have your um so then through the bank here we'll use a couple different colors uh you have your account all right .

And this would be associated to your uh say your xrp account itself right so we'll say xrp so a bank will offer you an account and in that account you'll have your well dollars us dollars in this case you have your xrp right now the difference between a bank .

And the xrp ledger is your account can kanachi gold or on the xp ledger can actually build multiple different assets as we were discussing nut xrp solo uh csc locks uh you can even hold btc uh ethereum and so forth right so basically the bank offers you .

An account your account can hold different assets right and so what ends up being is that again with the bank you can have multiple different accounts now that could be like your checking account savings account things like that and much like um .

In much the same way you can have different accounts on the xrp ledger for different things that you want like like i have a huddle account which has like all my long-term holdings sit in there i have a my tip box or my sorry my tip jar right and my tip jar is just just that for me giving and receiving .

Tips like i'll take people xrp cs mostly i tip csu but like i have like a whole bunch of different assets uh added in there so for accepting and receiving so that like i have like xrp csc um oh geez all right cx-1 loxcoin equilibrium .

Uh nerium like uh i could sit here and go on about a list of the different assets that i have available in there about that but that's just my tip jar for interacting with people so you could have different types of accounts that you use for different things right .

So some people will have actually we'll use purple for this one so you have different types of accounts much like with a bank you have you know checking account savings account credit card line of credit you might have a mortgage and so forth there um same thing that you you can basically do the same thing with your xrp accounts right .

So you can have your you have your huddle account you have your um we'll call it like your tip jar right now so like your huddle would be equivalent to like a savings account right you have your tip jar which is like your .

Checking account and then you have say your um i have to say like you know um sorry this is kind of where we lose ourselves in the analogy with the bank but uh .

It also have like say a trading account right and like and nuts as well like banks offer trading accounts as well well then you also have like you know uh an account that ties in and you have for uh an account that you keep for like .

Loaning for your family or so like i have an account that i have a balance that sits there and like you know if my brother's like hey but like i need some money and i'm like all right well you know what oh i'll loan you so much xrp just pay me back so .

You have a loan account maybe and that'll be like equivalent to like a line of credit anyways uh besides the point you kind of get where i'm going so essentially you can use uh the bank analogy when it comes to the xrp accounts so you have a bank which essentially the xrp ledger .

The xrp ledger can have an account or multiple different accounts and those different accounts can hold different assets right and so essentially this is kind of how i try to break it down for some folks in understanding how the ledger works is that .

You everything revolves around the xrp ledger right and so that's essentially the bank right and then the bank offers different accounts and so that's where it comes through with the account and as i mentioned .

Before is that your account has a set of recovery keys right we'll say the recovery all right so now um when it comes to oops sorry about that kicking stuff over all right so you also have a .

Like recovery keys for your account so like much like your bank account if i lose my uh bank card right i can go to the bank or call up the bank and i can get a replacement card that being said like if i have my wallet like some ledger trouser or whatever the case and i lose the device .

I can get my account back by using my recovery keys and so that's the sense in the sense of uh recovery recovery keys being like you're being able to replace your uh bank card there or your bank card being like a wallet so to speak .

So your wallet even if you lose it you lose your phone you lose your device you can still recover your account provided that you have your recovery keys this is why recovery keys are so important like your 12 to 24 word nanomic or your eight to six or eight groups of six words in this song for numbers in some that a through h group .

Of the eight groups and numbers those are your recovery keys for some um if you did this uh casino coin swap your recovery key would be the secret key from the old casino coin wallet um if you end up losing your phone and you recover your account and you don't see .

Your csc swap count there i do have another video that covers uh recovering that cse swap account either using the secret key the 12 words or a backup file off your machine there so just something to keep in mind there um there there is a video in my list there to .

Help you if you do need that in future but most importantly like with any of your accounts the difference between um the analogy with bank here is that your account right or your wallet if you don't take down your recovery .

Words you don't have those recovery words and you lose access to that account you permanently lose access to that account unlike a bank where if you lose your bank card you can walk into the bank with your id and so forth and be like hey i lost my bank card i need a new one and they're like okay here's .

Your new bank card you regain access to your account with the xrp ledger or any other crypto assets bitcoin ethereum or any other type of uh chain your recovery keys are basically like your id of being able to get access .

To your account pack your recovery keys are the keys to the kingdom so to speak that's why like you know if actually perfect example if you turn around and somebody takes your id like identity theft right somebody thieves .

Your id and then acts like you and replaces your bank card and so forth that's equivalent to somebody getting access to your recovery keys and basically taking your accounts right so that's why it's so important to never ever ever ever give out your recovery keys it doesn't matter who's asking if somebody asks for .

New recovery keys they are a scammer do not ever give them to them there are applications like the bifrost wallets um or so forth that you'll put your recovery keys into to restore your account that is the only and i i mean like the only time you ever give out your recovery keys and you're not giving them .

Up you're putting them in to be able to recover your account but if you're on twitter and you have someone like saying oh man we see it all the time the trustline box metamask bots so pretty soon we'll probably have the bifrost bonds that are basically like oh i had that happen to us here fill up this google form and the very last questions .

Put in your keys don't ever ever ever ever ever ever put in your keys your funds will be stolen the recovery keys are the keys to the kingdom and so in back to the analogy here is if you lose your recovery keys you lose access to your account plain .

And simple like that being said is like if i have my accounting zone and i lose my recovery keys i can't find them the first thing you want to do is create a new account that you have recovery keys for and move those funds over to secure them so that you have the keys .

Do not ever keep an account that doesn't have recovery keys you want to move everything over to an account that you can recover because as i said if you turn around lose your phone your phone gets stolen um you know you're at the gym and you drop a weight on your phone and i go and .

Like you know lights on fire guess what you don't have your recovery keys all of that is gone it is gone so if you've like i've seen it before where uh you know people have everything stored on their phone and they're like oh my phone's safe i've got no even myself like i've .

Got otterbox defender like you know i can drop this on the payment right now and it's like whatever i'm not worried but it hits the wrong way and like that battery ends up going up on fire and toast my phone and i don't have my recovery words there goes all my funds .

So security is paramount always make sure you take down your recovery words and there's different uh ways to do that actually um i i have to give a shout out here to uh arcplate uh dave from markblight he .

Has a system here just one moment i'll see i know i have them oh i have them here bear with me put everything away in this drawer ah here we go okay .

So yeah i do have to give a shout out to dave from our plate he's a dude from here in canada and he's developed these little metal plates here okay might be a little hard to see on the camera there but for this one's for zom .

Which basically has eight rows which all correspond to the numbers that you're given when you set up your sum account so the eight groups of six word or eight groups of six numbers you can actually turn around and hammer into this and this is a metal like a .

Plate that you can hammer in your recovery keys for and likewise this one is vault but this is as well uh we'll take the so you have 12 on this side and then 12 on this side and essentially what that is is you can .

Take down your 12 to 24 word nanomic and you now have a permanent storage for those words there and there's a little sheet that goes along with it that basically corresponds a number with a secret word right and so you just hammer those in it comes with a little marker and a .

Stamp so you just take them out like you mark your thingy down put your stamp in there give it a hammer and it leaves a ding in the metal that it's permanent and you go hide it somewhere bury it he's also got solutions for uh hiding places for it which are like little picture frames or things that you can put around the house .

And you know it's it's a great solution for keeping your recovery words or recovery numbers safe okay so if you haven't taken or haven't already feel free to take a look at arcplate.com and um .

As well actually uh if you use i have a coupon there codeword all in capitals c-o-d-e-w-a-r-d you can get 10 off um this isn't like us this isn't a sponsorship or anything i just want to give them a shout out and you know if you got a chance it'll give you 10 off your order if you .

Use coupon code there um but needless to say um yeah needless to say sorry uh the recovery keys are paramount they are the keys to the kingdom you lose those you lose everything um that being said um just going back to the .

Uh chat here just to answer some questions all righty let's see here okay um gs will you take a dive into flare network in future fx rp looks interesting yeah i i do look .

Or i am looking forward to get a bit more informed on flair networks and floor finance and how that works um in the meantime um mickey b fresh or mr fresh time has a youtube channel uh as well does uh community flare so mr fresh time and community flare both have youtube videos that cover everything in .

Quite a bit of detail and i would say go check them out for sure um that being said um they're also available on twitter and as well on twitter check out uh the real patty xrp and these are .

All three like all are great resources for anything to do with flair songbird and so forth they have a lot of information available and community flair especially is out there helping the community much like i do um he's like they're out there like helping people answer questions and so .

Forth so if you do have questions feel free to reach out to them they're very very helpful folk um but yeah um in the meantime uh mango paradise so i missed everything explain everything you .

Said in a few sentences okay okay um let's see here a few sentences so uh to break everything down from the beginning and to give a quick recap here .

Essentially everything to do with the xrp ledger exists on the xrp ledger itself even the dex is built into the xrp ledger so when you create an account on the xrp ledger okay the account is on the xrp ledger itself .

It's not specifically tied to the wallet that you created it with so you can create an account with some with ledger uh with treasure ellie pal paper wallet uh anything like even uh using um art plate here .

Using a ten sided die you can generate yourself the xrp account go ahead load it up into zom activate it and boom goes dynamite like you know so the xrp account itself is directly associated with the xrp ledger it doesn't matter what wallet you created it with you can even turn around .

And take your account from ledger pull it up into zom or you can take it from descent pull it up in a ledger or whatever the case like your recovery curt or your recovery keys are will give you um or what basically let you recover that account into any other wallet .

Um some i believe is a bit more proprietary in the sense that like they use the uh eight groups of six numbers and so that i think is directly correlated to some i'm i would have to look in to see if there's a way to uh pull those numbers into being a .

12 24 word uh nanomic but regardless of that essentially the xrp account is not tied to the wallet that you created it with it's actually tied to the xrp ledger itself yes exactly um the wallet just basically gives you access .

To the account so you can get access to that account from any other wallet and so essentially what it comes to is that you have wallets and interfaces all wallets are interfaces to the xrp ledger but not all interfaces are wallets for example like .

Uh xrp toolkit and sologenic they are interfaces to the xrp ledger and the dex um however to sign like to actually perform transactions in those interfaces you need to sign those transactions using a wallet hopefully that makes sense and so that's basically what it comes .

Down to was the general premise of the difference between accounts wallets and interfaces and then we also get into discussion or discussing like the assets and trust lines so your xrp account .

The native asset is xrp however different tokens on the xrp ledger can be created like solo cse locks point uh btcx or cx1 or nerium equip equilibrium uh however many other assets are out there so .

Those assets are created on the xrpl however you need to extend a line of trust to them or a trust line to say that you want to interact with them that you trust that asset enough to interact with it and you want it on your account to be able to interact with and then you can trade with that asset on the decks like using like xrp toolkit uh sologenic .

Or directly in zone using the um exchange feature or even the github trade xl now the gatehead tradex out i believe has predetermined pairs that you can use so in that regards it's a bit more limited uh same with xrp toolkit it's limited to xrp pairings so everything is .

Like x or pd usd x or p2 csc sologenic so forth xrp is the base pair at any m at all times you can flip um which one you want to reference so instead of having xrpd usd you could have usd to xrp or csc to xrp and it just flips the order about in how it's .

Presented there um but yeah uh basically that's about it um the one other thing that i did want to cover that i haven't covered yet is the difference between apps and like x apps and essentially like apps will be things like that you find uh online um like metamask i believe is .

Like a wallet app zom is an app um i believe github and sologenic have their own apps that you can download uh the difference there with an x app is that x apps are directly in some they're like an adap or a d app um via the ethereum chain right .

So within zom i look at it as x app as in zama but i might be off and it might be like an xrp app but regardless uh basically an x app is a like a web app that's incorporated within some and we see many of these already in some via like as i said the github trade x app uh the .

Xrp tip bot you also have the pathfinding algorithm uh there's the um cx-1 faucet uh we also have uh chris or uh big c jack there in chat give a holler if you're still here buddy um he's working on developing the coin dropper app which is actually pretty cool if uh you haven't .

Uh seen much about that uh he has shared some stuff uh especially on uh xrp crypto beast's uh youtube channel and in the xopl community discord there so if you haven't already go ahead and check that out um it's just bringing more utility to the xrp ledger um yeah not a problem mango i'm glad i .

Could uh kind of cover everything up quickly there for you um yeah in the meantime while i'm just kind of i don't want to say rambling on but talking here feel free to post more questions in the chat as well there's a link there from me via the uso2web.zoom.us if you have zoom .

Meetings feel free to drop in and uh have a discussion like the the chat the streams open here if you want to join in and join the live discussion by all means come join um that being said uh yeah .

so another question coming in yeah by all means bud uh so let's see here uh one question been wanting to ask you not financial advice by any means as a peer speculator nothing else in your opinion only what do you think the value of csc could be for you .

I get asked this all the time and i'm gonna be straight on it's like i have no idea like i speculate in the pri or i speculate in the premise that yes i believe csc will go up do i have an idea of where it will go to no .

Like my whole thing that i say to everybody is like you know what look let's focus on getting to like one cent and then going from there like you know what the project is all about sustainable growth right so i think what will end up happening is once we have utility actually rolled out via like the .

Csc lobby and either other or even in other aspects like um say people uh develop other apps and so forth they actually use csc we will see a a growth in that right so it's all about supply and demand right so the more utility there is the more .

Demand will be the more the demand the less supply the less supply the more demand and then creates the whole economical supply demand ratio and where we will see price appreciation and deep depo depreciation uh based on utility and so forth so say the csc lobby gets rolled .

Out and everybody's gung-ho and starts using it and you know we'll see the price probably rise up and then people maybe you know get bored of the couple of casinos that maybe start off and then we see dwindling usage and then a new lobby or a new casino or new casino gets launched we'll see another .

Increased spike of usage right you know so it all comes down to utility supply demand and tokenomics is really what it comes down to the more utility the more we'll probably see price go up and so forth um when it comes to .

My views of where i see csc going i i honestly have no idea like i'm here for the long run i want to see kind of what ends up coming up and what ends up happening like i'm less focused on price as i am more focused on adoption and seeing the way the ecosystem evolves and so forth .

And that's why my whole point and promise to doing like my twitter account and my youtube is all around education of the xrpl ecosystem is that i'm about education like price and speculation is something i'm less focused on because as i've said before um .

Setting uh price predictions and so forth sets expectations expectations lead to dis disappointment especially when price prediction and stuff don't get hit we see that all over crypto twitter people are like people get salty quick and i've said before like i don't do price predictions because it .

Sets expectations and if i were to turn around and set a price prediction and i'm like yo like as i said like if i were to say you know cse's going to five cents or whatever the case and someone's like hey that's uh however many x increased from here i'm gonna bet house and home because he said it's .

Gonna happen and it doesn't happen and buddy loses house and home is out on the streets because of something i said man i am going to feel like a slime ball and i i don't want that like i want i want to see the space succeed i want to see everybody succeed and .

That's one reason why like i stay away from price productions that's why like my whole point in premise is around education of the space so i'll say it time and time again i don't do price predictions once in a while i'll put out like a little picture like i've had one before where it's like you know people buying csc at .

Point zero zero three cents and there's a couple people lined up and then you know there's one where people are buying that 10 cents and then it's lined up around the corner like you know it's to give an idea of the mentality behind people in crypto is that nobody wants to be first but .

Once they see everybody else running for it and the price go up and that's why we see people chasing candles everywhere like i've already i've also been seeing it where people turn around and we're like i don't want to say we're at the bottom but like we're at a low .

On csc and people are selling right now chasing candles for other projects and it's like that's where people get wrapped is they're selling the bottom so to speak not saying that we were at the bottom but we could be we don't know like cse lobby .

Could get announced anytime now and we'll end up seeing things wrong like you know so it's it's hard to say and that's the thing is like casino coin is aptly named being that it's a gamble like there's no saying where it can go where it will be a year from now six months from now like .

Man next week we don't know it could bottom out it could go for a run it could still keep trading sideways or in the downtrend that we're seeing like you know there's no saying for sure so in that regard i don't and i i don't do price predictions and i avoid it at all possible as i said like i want to .

See organic sustainable growth in the ecosystem and so that's why i agree with daniel and i say you know what let's focus on getting one cent first and go from there like you know what it's not a race like .

I know everybody is so gung-ho and like even last month or two where it was like you know we had a bit of a wall and everybody's like oh it's stagnant it's game over it's it's it's done well no like things are still happening in the background that we don't get to see and so you know it's all it's about patience it's it's the long haul like .

When i bought casino coin it's the i bought with the idea that yo i'm gonna be here for the next 5-10 years i'm not here as a get-rich-quick scheme like i'm not expecting to roll out and drop in 100 bucks walking out with 100k you know what i mean like that's not if you're coming in with that mentality you're gonna get wrecked .

And yeah anyways i digress also in regards to x app can anyone develop an x app uh yes anyone can develop an x app um however it does need to be approved by the zom team to be available within zom .

Itself however uh if i'm not mistaken like you can develop an x app and offer it up anywhere like you can develop a web app and have people interact with it using zom they just scan the qr code and it loads up and acts up within zom and you can interact with it within zom the difference being is that .

Um a whether or not the x app is offered directly in zone like the path uh the path finding or uh sorry like um let's say uh github tradex app that is offered directly in some it's verified it's available in some you don't need to go scan a qr code load it up you can just load it up in zone but me i can go .

And develop a web app and offer that up in for people to interact with using zom a perfect example of this is a short the fomo he's got a three xrpl.f or three xrpl.dev or is it a three xrp give me a sec here .

Sorry 3xrp.dev okay so he's got that set up i believe he was working towards that being an x at and so you can interact with that uh via zom if the xop portion is available i'm not sure i'd have to check in it's been a little bit since i've been on there but uh you can hop up on there and .

Interact with it and like if there's an x-app portion you can load it up as a next app within zom and interact with it it's just it won't be natively offered in zone so yes anybody can build an x app the verification is basically .

Whether or not it's natively offered in some does that make a bit more sense sorry if i confused you there okay so it would be great to you see a c lobby or even an x app you designed to be a future i actually i do have a couple ideas for x apps it's just a matter of uh .

Development because like i work nine to five i'm also a father of four and you know having a girlfriend you know my time is limited uh so i try to do as much as i can and that's like even my streams here like i work my streams around my girlfriend's work schedule and then as well like i in my previous .

Streams you might see like my little dude will come down and hop in and you know so yeah um like i do have a couple x out ideas that i'm looking to work on and develop i hope to get working on those as soon as possible because honestly .

I feel like they would be they could provide me with like you know an additional source of income that you know might prove to be down the road enough to develop more full-time on the xrpl like if i could develop just one ax app that provides me with enough passive income to like not have to worry about a nine .

To five and then i can just start developing even more stuff for the xrpl i would love i would love to do that like i have a couple ideas that are on the back burner that i'm hoping to get to i actually just loaded up a tutorial uh for developing uh an accept and i'm going through and just .

Kind of playing around with a few ideas right now and from there like the one i'm working on right now just to get a basic under well not quite basic but an understanding of things is like a an encrypted messaging app that i would love to offer within some so that it's like you know users can turn around and .

I can be like oh hey i need to send my brother a message and included in that message is a payment so it's like oh hey here's an encrypted message nobody else in the middle can intercept that or read it or whatnot my brother ends up getting a push notification saying oh hey here's a message this is payment for .

You know you coming over and babysitting while i had to work one day and there's an encrypted message included with a payment direct to his xrp account you know that i think would be a phenomenal feature and that's something that i'm touring around with right now with .

Actually right now i'm just trying to get the basics of the messaging uh worked out but yeah like i i do have a couple ideas for x-apps that i'm working on right now that i look forward to hopefully rolling out in the future it's just well time prohibitive so hopefully one day .

I'll have the means to be able to support myself through passive income that i don't have to worry about a nine to five all the time and you know and just be able to develop stuff on the extra pl like that would be the life that is what .

I'm looking forward to where i can just basically be my own boss you know that's your dream right anyways um so jay asking here uh what are my impressions on locks smart locks and smart nft tokens .

Um actually i i have uh like my personal opinion is i i like like i've read through the white paper i like the white paper i like the idea um i do want to see like more development on it like .

I do see a future in it the idea is fantastic at least in my opinion um so i'm not sure if you've read the white paper but essentially you have like smart nft which essentially is like an nft for your head or your personal identifiable information right .

So i can turn around and create a token that identifies me as me right that's smart nft now you can also create a or you'll also have the smart locks token which basically goes through for creating an nft that identifies your device right now they're working on like smartphones but down the road they'll be .

Looking at doing uh smartphones smart watches basically any uh device that has like a unique identifiable identifiable signature usually focused around an imei right and so then you have .

An nft that identifies you as you you have an ident uh nft that identifies your device as your device right then combined using logs or while combining them you now have a relationship that says this is me this is my device i can prove now .

Through blockchain this is my device you know what i mean so now you have a correlation between yourself and your device and potentially other devices as well so you could have you know yourself associated with multiple devices now say you end up having your device stolen .

Like you know say you go to college and you know you left your phone on your desk and someone's like oh hey nice phone guess what yo so the thing is right now is that you could turn around call up your service provider and be like look my .

Device was stolen i need to blacklist it because like you know like well there's either information on that device or i don't want people using my minutes or my texts or having access like you know you need to blacklist that device .

So then that prevents anybody within your service provider of reactivating that device under their name you know what i mean the problem being is that a lot of service providers blacklists are siloed so if say like here in canada we have a bunch of different providers like rogers bell fido .

Telus kudo um oh i don't even know uh virgin there's a bunch could go on so if you're theoretically say you have a phone with virgin right uh you turn around and you have that device stolen that person then therefore turns around has a contact saying .

China or something and they say they ship that phone off to china china therefore has different service providers and the service described providers there don't have access to virgin's blacklist they're like okay whatever you got a new device let's activate it defeats the whole purpose of the .

Blacklist right yeah exactly so smart nft is like a digital id um and smart locks is like a digital id for your device yeah exactly and it's all on the xp ledger there so then yeah essentially what ends up happening is that device gets a shipped off to china and somebody in china says oh hey i got a new refurbished phone .

That's blacklisted here but my service provider doesn't check that blacklist so essentially what the loxcoin team is looking to do is to provide a almost like a decentralized blacklist system for uh companies to use because a lot of what ends up happening is you have uh .

Providers that provide or they end up giving incentive for other companies to use their uh blacklist but if it doesn't incentivize the other company then they don't end up using it and so there's not that cross uh cross communication when it comes to blacklist so then you end up having .

Somebody internally that ends up unlocking your phone and now has access to your device because it didn't get formatted or whatever or you know or that actor decided to you know load up the device and now has access to your phone and was able to crack through your .

Password or whatever the case and now has access to your device now has access to any of your wallets and things like that on your phone right so it kind of prevents somebody else from activating your device on another service provider that doesn't verify um against all black lists .

Which i think is another regulatory thing that needs to be addressed there so in my opinion i i like the idea of the project i look forward to seeing where it develops and where it goes from there the idea behind the project i think is fantastic .

Um i do believe there is some hurdles to overcome as with any asset and any project there's going to be hurdles to overcome we see that with uh xrp we see that with casino coin um like you know even xrp they're they're dealing with the stuff with sec and regulatory clarity there um we see that with csc right now and launch of .

The csu lobby there's things that they're having to overcome and hurdles they need to get past so yeah yeah there's as with any asset there's hurdles to overcome and that's what i say like i'm .

I'm not i'm not talking down on the project by any means like every asset every project has hurdles to overcome and i do look forward to seeing where they are a year or two from now or you know 10 years from now and i'm using like their blacklist my phone gets stolen and then i can pay somebody locks to get my phone back dude .

That would be i think that would be pretty pretty freaking cool so yeah my opinion i look forward to seeing where the project is a little like down the road all right now david uh no matter how much you want .

Them on twitter many people when you see a trustline tweet they will set it up and post their address for the whole world to see regardless if there's an airdrop or not and make an assignment yes we are seeing this everywhere and i talked about this in my last video is that like .

There is a security aspect that is being overlooked by so many people when they post their address on twitter it's like dude like you realize that you just posted your address you basically just posted your bank account information for all to see they can see your bank they can see your .

Balance they can see what other trust lines you have the balance of those trust lines they can see the transactions you make if you have trades uh sitting on the on the decks they can see the exchanges that you interact with if you sent funds to bittru or you sent funds to binance or kucoin or .

Uh whatever other exchange like not only do they see that you sent funds there there's also a record of the tag that you use which now means they can therefore watch transactions on the binance um or whatever exchange .

And watch for your trust line or your tag sorry and if they see their tag they're in there they can now therefore associate and say hey guess what you sent funds to this account from this wallet therefore i can reasonably deduce that that's probably your account and therefore also double check and say .

Okay well i see that you send it to three or four different accounts but this one has the most transactions that you send your funds to therefore i can reasonably deduce that that is your account i can now therefore watch your account and see where you send funds to right so there's something that people .

Overlook from a privacy standpoint when they post their address everywhere and i've said this like in my last stream like here like um let me see here i'm gonna just go ahead and pull up twitter here and then i'm gonna hop over here .

And i'm gonna say share my screen and google home twitter share okay so i'm gonna pull this up here okay and you know what casino coin why not let's see um so here we go .

So we all know that people love to post their uh address up on uh see is there one here i would not be surprised if there is okay well i i am pleasantly surprised i am pleasantly surprised not to see somebody posting their address there but like give or take like the majority .

Of uh tweets here we see like somebody has usually posted their address and okay so it might actually take me a couple tweets like i think people are starting to understand that you shouldn't be posting your address everywhere .

So uh okay this one perfect so this will be a prime example because it shows a 200c csc giveaway people are going to think it's an airdrop almost yep there we go prime example all right so this person here we're just going to go ahead and copy their address i don't know who this .

Person is but the point of the matter is and i don't mean to out them i'm not trying to be you know in any way you just go to xrpscan.com pop in their address i now see they have xrp in our account and then we can also .

Pop down over into truss lines and here we go so now i see that they have pale gill coin with balance to 10k they have adv and a balance of 500 they have some lovecoin they have some zhang gang uh let's oh they don't have any csc but they got sanaya coin they've got some .

Cx-1 they got calorie coin and that's what i mean is right there you've just i i can i can fully see everything that you have just because you posted your address and sorry let me actually just pull that back up .

So this is what i wanted to say so now if we go through uh you could probably go through their transactions here because here we see that their account was activated by coins ph right so there we go so .

Just going through here we go so activated coins.ph so here is the activation and i'm pretty sure we could probably pop up here um okay so okay my mistake that one doesn't show .

Their uh tag so i'm not sure if uh let's see activate it maybe it'll be in the transaction here uh okay so no i'm i'm not pulling it up but like like that's if it was like another account or so forth you'd like like finance or a bit true or something like that it would .

Show the tag that it was uh funded by and that's the thing is like you could turn around pop up in there and see that you know this person sends regularly xrp to bittru using this tag well guess what that information it's a public ledger anybody with your address can see that and that's what a lot of people are .

Failing to see in that security aspect is that this is a public ledger everything is public if you post your address everybody can see that you know so security security security folks like don't post your address like another one like you know what i .

Mean here's and this is just uh kind of drive that point home like again like this person's got 48 xrp we can see the trust lines that are on their account we can see they have higher paleocoin calorie coin they got some equilibrium uh you know they got some csc and what .

No not that that's exactly what i mean like your information there you just posted your bank your bank account information for the world to see anybody who looks at that tweet sees that reply sees that account can pull it up this is publicly accessible people .

Keep your security in mind don't don't post your addresses everywhere please anyways um yeah agreed yes that that's correct as well uh mango paradise and that's one thing i've addressed in one of my previous tweets as well is if you're going to .

Turn around and use the tipbot my strongest suggestion would be to use a fresh account like set up an account in zom and fund it by an alternate means like even if you turn around and say you know go and like because like you can set up an .

Unverified picture account or whatever right so you could essentially turn around and say okay well you know what i'm gonna send um a payment like some xrp to say kucoin send that kucoin over to the new bitro account and then fund the or from .

The tip jar account or the tipbot account using that new bitro account that's just it's like a dummy account basically you know and that there is enough to get you like you know de-anonymized or anonymized so to speak to give you some pseudo and anonymity .

So in that sense that personally is how i would go about setting up a uh a tipbot account create a brand new account and fund it from an account that either has high transaction rate that it could be being sent to anyone or anywhere .

Doesn't matter or you know set it set up a account with a service that has no correlation to that uh tip bought account to any of your other addresses that there will provide you some pseudo anonymity in regards to any other .

Accounts that you haven't provide that level of separation so with that being said yes so yes be mindful with uh as well your tip account is like you know don't like yes if you if i were to tip you or you were to tip me i can see the account that it's associated with and so yes you .

There is a level of security that you do need to keep in mind and as i said if you want the best way to go about it is to provide a brand new account that has zero correlation with your holding accounts and this way it gives you that degree of separation so people can't see like so i can't just hop on and be like follow the .

Transactions oh you activated from this account oh hey look at that i see your 10k xrp or whatever you have you know okay um so no you can't run to some apps however you can have multiple xrp accounts within zone .

So you can turn around and um so say you you already have zomline assuming you already have an account in zom right you can create a new xrp account in zom and that off the bat will not have any correlation to the first account it will have its own .

Recovery keys it will be a brand new xrp account and like zom doesn't care where the accounts from like i can take an account from my ledger nano and i can import that into zomlings i'm just like okay whatever it's an xrp account cool .

So if you turn around and create a brand new account in zom it doesn't automatically have an association with the other account right zum does provide a layer of interoperability between the accounts so if you do create the account and you hop into the first or whatever and you go to send funds it will offer the other .

Account as a means of deposit and so forth but you don't have to and that is just a a ui association there it's not associated on the xrp ledger you know does that make sense so .

Yeah myself like i have i think i've got like four accounts in zone okay four xrp accounts and zone i have my cse huddle account this account has zero association with any other account okay .

This is my csc swap account that is it this was created specifically and only from my swamp there is no other transactions that exist on this account other than my swamp it is siloed from all these other accounts even though it's in zone okay i have um .

My tipbot account right my tipbot account is a bit more well i use it for all my examples the address is out there it's everywhere like that i don't hide it because anybody that i tip or tips me can see that account so it's like whatever that's a public address anybody can see it i don't care you can .

See my balances if you want to if you want like rate uh xrp i just want to make sure that it's the proper account okay yeah okay so this here okay so in zom this is my my tipbot account right so i have xrp i have cx1 a smart smart .

Logs i have csc and all these other assets like if you look at any of my other how-to videos and so forth this address is everywhere if you were to tip me or i tip you this is the address that you end up seeing so you can pull that up and you can see my account this is why i i'm not hiding it like this is .

It's a public account it's there so um essentially what ends up happening is like so as i said so i have my cse swap account that is siloed this is in zom but it's separate like it it has no direct correlation with my other accounts in zone then i have my tipbot account which is .

What you see right here this is public like anybody can see this account that i tip who tips me or like you know it's there right it can also be pulled up for money in my other videos as i said then i also have my another account that i called my like my .

Tip jar and this is on my profile like my twitter profile that's associated with pastry this is an account that i'm using for a giveaway again i have it publicly visible for transparency there's xrp in there that .

Basically can be used for uh or xrp and casino coin that's going to be used for a merge giveaway uh with the launch of the cse lobby right and then i also have uh my gatehub account within my zone my github account again has no direct correlation with any of these other .

Accounts it's just an account that i used for the um videos of importing github gatehub into zom and transacting with bitcoin via the xrpl okay so as you can see like i've got four different accounts two of them are siloed two of them are publicly like .

People can see them like it's not rocket science you know what i mean so in that regard um you can have separate accounts within zone um so with that being said um can you run twos um okay so your other question is here how do you register the .

Second account for tipping okay so if your twitter account is already associated with an xrp account you would need to disassociate that account so you just go to tipbot.tips and you just go here and go tip not tips and .

All righty so uh okay i don't have it set up here but um or i don't have it set up via the browser here but usually what you'll do is you'll have an option down here where it's like other options and then it'll be like register uh switch accounts .

Deregister and so forth and so you just hop on there switch your account and switch it for the account that you want to be associated and sign the transaction so yeah as forex cadet just mentioned in the chat there it's uh one twitter account or one xrp account per twitter handle .

So yeah if you have a second account you want to use you'd either need to unregister the first or use a separate xrp handle um and that's the same thing via discord so discord's the same way um it does need to be registered separately from your tip .

Um or your twitter tiploc so the registration for discord and twitter need to be done separately because they're two different registrations and that's to associate like twitter to your xrp account and discord to your xrp account now with that being said you can use the same xrp account for twitter and discord .

But yeah or you can decide to use two separate accounts for different like you can use one xrp account for twitter and a separate xrp account for discord but when it comes to one or the other you can't have discord with multiple x or p addresses .

Vice versa you can't have one xrp address across multiple discord accounts same thing with twitter one twitter per xrp account one to one relationship you can't have many to one or one to many um no no no so um again it's same thing uh with twitter so an xrp account uh needs to have the base reserve met and then the reserve added for each .

Trust line that you want to have on there and to be able to be tipped with okay so like if you're on if you want like a basic tip jar or tip bot right and you want um just xrp and csc keep it simple here right you would need the 10xrp for the account reserve you need the 2xrp for the cse trustline .

And then a little bit extra xrp for transactions transaction fees um that being said once you're set up then you're good to go you can uh tip and receive tips okay uh once you've verified your or set up your tickbot account .

And so via discord you do that just via the not or the command exclamation tip register and that'll go through and the interactive bot will send you a direct message which will basically bring you up here to sign a transaction you sign that transaction and it associates your discord account with that xrp account .

And and so yeah so the activation is done by you you do need to have an activated xrp account uh yeah because like you can't activate an xrp account with csc the base reserve needs to be hit and .

Then the trust line needs to be added um okay so do i simply have the main account switched on zom when registering on discord yes yeah exactly so uh what you do is uh hop into the switch account select the account that you want to register you again want to make sure that it's activated so you need to have .

The base xrp reserve hit and the trust lines and reserve for the trust lines added once you have the account activated and the trust lines added that you want to tip with or transact with then you would go into discord or sorry you'd make sure you would have selected in some and then yes you would .

Go into discord do the registration um sign the transaction with the account that you want to associate with and you would be good to go from there then you can start sending and receiving tips yeah no problem bud um like i'm open to questions if uh people do have questions feel free to reach out and so forth .

Um at this point um we are running close up to about three hours here so it's about 3 45 almost on my end so i'll look to end the stream here in about 15 minutes so so if anybody does have any more questions feel free to drop them down in the chat and .

I'm happy to answer them for you um but yeah um that's basically what today's stream was uh in regards to was going over the basics and so forth there um so yeah if you do have any other questions uh feel free to reach out i'm available .

On twitter via codeward1 i'm also available in the casino coin discord via chat.casinocoin.im i will put a link to both of those in the chat here uh so do do so there's oh okay so there's my link to my twitter .

There and i'm also available in the discord via https chat.smallcoin.i and so there's a link to the discord there if you're not already in it so yeah uh feel free if you have questions i'll answer them as long as i'm free and i can answer them if i .

Can't answer the question i'll at least try to point you in the direction of some resources that will help you or people that will be able to answer the questions for you all right um and yeah likewise just kind of pay it forward in the future if you see somebody else that has questions .

And you can answer the question feel free to help them out answer the questions or point them in the way to the resources that they need um this is how we grow community and that's what it's all about is community folks and that's why i'm here educating where i can and how i can .

So if you do have uh suggestions for future videos um whether it be a live stream or even just one of the how-to videos that i do feel free to reach out and let me know like i'm you're just trying to build a uh .

Basically a repository of information for people to fall back on um and i know there are some videos that i do need to redo like the extra pl decks trading video like the first one that i did a i got a new mic which will make it sound a lot better as you guys can tell and be in the original video i'm still talking about the csc .

Swap being pending so i want to update that in the sense that being with current information at least so yeah anyways if you guys do have any questions drop them in down in the chat i'll answer them while i still have time here otherwise i'll be looking to close up .

The stream here relatively soon and yeah so just uh again recap uh for people who might just be joining uh to go over the basics of what i just uh discovered in the start of the stream there is that basically the difference between accounts wallets and interfaces and so forth is that .

Everything the magic the magic of everything is on the xrp ledger itself including the decks the decks is built directly into the xrp ledger as with accounts an xrp account lives directly on ledger not in your wallet your wallet holds the keys and gives you the authority to sign transactions .

But your account itself lives on the ledger and that's why you're able to import your account from zom to ledger to trezor lapel paper wallets and so forth descent kobo anywhere that whole is able to hold an xrp account you can import that into any other wallet so .

Um there's kind of the difference between accounts and wallets now while it's when it comes to wallets and interfaces all wallets are an interface to the xrp ledger however not all interfaces are wallets and an example of that is the xrp toolkit and sologenic decks these are interfaces to the xrp ledger .

And with that being said the interfaces interface with the ledger but yeah they're not a wallet they require a wallet to sign the transactions so yeah again so if you guys have any other questions feel free to reach out again my links .

Are in the chat there via i'm on twitter via codeward1 or i'm also available in the casino coin discord via chat.casinocoin.im xlpl nor uh yeah i'm i'm still going i had some more questions coming through uh so i was just trying to answer everybody as i come in we had some late .

Joiners so i wanted to rehash and just as i close out the stream here i just wanted to do a quick rehash of what we basically covered today so yeah um again if anybody has any questions feel free to drop them in the chat otherwise feel free to reach out to me on twitter .

Or discord there and i will answer any questions that i can feel free to give me a mention on twitter send me a dm like my my messages are open i i believe anybody can message me on twitter i don't close that out to anybody so if you have questions feel .

Free to reach out i'll try to answer them as much as i can again my time is like limited to a degree like i do work nine to five i do i'm a father of four and i also have a girlfriend that i do .

Spend as much time with as i can so and i also have my own development projects but admittedly i spend a lot more time on twitter and discord than i probably should so if you do have questions feel free to reach out and yeah i'm i'll try to help out as .

Much as i can if i can answer your question i'll at least try to point you in the right direction towards other people that can or at least resources that may be able to help you okay um thank you very much bud i appreciate the compliment um so yeah if anybody once feel free to reach out suggest .

Future videos and so forth uh that being said i don't see any other questions coming through so i'm probably going to close out the stream here uh yeah we're pushing on about three hours here so uh yeah um thanks for joining the stream thanks for your questions thanks for your interest .

And i hope you guys found the information that i provided here valuable if you did give it a thumbs up if you're interested in any for our future content that i provide give it a subscribe it helps the algos and her algorithms um and yeah thank you very much i .

Appreciate you all coming out and you know listen to me ramble on and talk about the xorpl in different aspects of it and again if you have suggestions for future videos feel free to let me know i would i don't mind covering it if you guys have questions and suggestions .

Um with that being said i hope you all have an amazing saturday go spend some times with your friends and family and you know what i know we've got some trying times going on with uh coronavirus and everything going on but you know what do what you can with what you can .

And you know what well as i said have a great friday i appreciate you all coming out for saturday and i am lost have a great saturday thank you all for coming out and i hope you all have a great day thank you very much enjoy .

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