Bitcoin Forum

is there value to be had here? Can this currency ever amount to a price like BTC or LTC has?

Is that the theoretical amount, or the actual current amount?

I think there are less than 1 billion in circulation. Most are in cold storage.

Ready for a pump and dump so the company can make $$$$$....avoid the scam

Bitcoins have only 21 million, that's why the price, with 100 billion I guess there is a limit on how much Ripple XRP will go up in value.

Could be a pump and dump but there is significant and multiple VC interest in this operation. I get a gut feeling there is vision behind this enterprise.

Don't get me wrong, Opencoin and co are going to make a killing on this but is that any different to "Satoshi"!

We have had the test runs, perhaps Ripple will have the creases iorned out and incorporate a friendly user interface.


There is 100 billion XRP total Outstanding

50 Billion XRP are being released to the network (us) at large

30 Billion XRP is being retained by Opencoin in the hope it increases in value (somewhat excessive! in my opinion)

And it looks like 20 Billion is being retained by the creators although this is not stated!

http://en.wikipedia.org/wiki/Ripple_(monetary_system)


If XRP manages to inspire it is perfectly capable of becoming a world currency.

I can not understand Ripple so I won't use it. Period. And if I am having such a hard time, the average Joe will not even come close to understanding it. How can something no one understands completely become popular?

Ripple is one part protocol (method of exchanging any currency worldwide with very little remittance). 
And one part currency (Which should add liquidity to the protocol.)

I think it will have little or no value to the average Joe, but it give the banks/market makers liquidity.

Well value is a perception.

Ripple is an IOU system that is broken. Trust is needed.

So yes value can be instilled. I just choose not to put a single bitcent into it.

How does xrp differ to Fiat? Effectively fiat is an IOU where the currency is backed by its acceptance by the masses and by government!

I feel like I'm missing something here! There is too many conflicting signals and no one really knows for certain what is ripples ambition. I doesn't really have legs of it's own like btc did because work in the general sense of the word is not necessary with ripple. Therefor it is a planned and controlled currency and one which can in fact be manipulated by the creators and the company Opencoin. Who subsequently hold between them 50% of all in circulation.

We have the potential to liberate humanity from the power and greed associated from centralised currency. BTC is the best example of this but it still comes up short. What is needed is a greater visionary - one who can build on the great example which bitcoin offers and iorn out the the creases which are prevalent in BTC.
The world is ready for a btc like system with the assurance that there is greater equality and fairness. I'm not sure xrp offers that.

Needless to say I'm going to collect what I can of the currency in case it does take off!

Problems with Ripple:

big 3:
- no source (still?)
- a massive amount "premined" as-it-were
- the idea is to ripple trust but really you are rippling debt; it's debt based and defaults can ripple exactly like European banks

Also:
- the high level of organisation just makes me suspicious politically even if it does seem bullish for price
- the devs explicitly say don't speculate on XRP
- no privacy (good thing?)...
- very centralised at the mo
- basic (good thing); no cold storage... yet?

I'd say the same as Bitcoin, check it out, get into a bit but not alot

The big difference with ripple and BTC is the intrinsic value attached to it. While BTC costs resources to mine, ripples are just created out of thin air. As a good investor will tell you, never invest into a project without any intrinsic value.

As such no intrinsic value is not really a danger. We use currencies all day without any value attached to it. However these currencies have a central bank attached to it. And although there are some "High Chiefs of Ripple", it is not the same as a central bank.

The monetary policy of a central bank of all the worthless pieces of paper we call our currency is heavily tied to constrained by rules, proclamations, but most of all long term trust through a reasonable state of independence. The High Chiefs of Ripple have none of the above. To earn money, they only need to 'release' ripples. When a reciprocal service is provided for the 'release' of ripples, they are better off.

Of course The High Chiefs of Ripple will not do this in the foreseeable future. But what if one is a little short of money, or wants a penthouse bigger than any of his friends? What is to say they will show the restraint necessary to keep the value of ripples constant?

I for one would not invest in ripples, but would want to exchange ripples to another currency asap, every time the service/good I have provided has come through. Up till the moment that The High Chiefs of Ripple create a trustworthy body which play the role of a central bank, with no financial incentive, there is no telling when the inflation-bomb will explode.

There 100 billion XRP in existence.

Current money supply of XRP is 1.8 billion US dollars. Enough said.

Oh and most importantly: the project is closed sourced and centralized.

From what I understand, Ripples are used to pay the fees to use ripple. So hopefully the price will not go too high!

100 billion  ???
I have 0 and dont see one reason I need 1

The rest of the VCs are nothing, but Google is in it too!  That gives Ripple a fighting chance.   With Google financial muscles and Internet reach, promoting a virtual currency will be easy.

Anyone...

How can I exchange whatever XRP i have in redemption for US$?

the value depend on their usefulness.