Bitcoin Forum

Why on earth are ripples worth so much?

I really don't get it? The price against BTC has risen like hell since the giveaway a few months back.
Since they "premined" all the ripples in the billions how can they be worth so much (in BTC)?

Is this really pure speculation of those guys who think that ripple is going to be the next big thing???

Or is there something happening with Ripple.com or XRP that I don't get.

Ripple may be the next big thing yes.

XRP/BTC is rising because bitcoin is falling. Otherwise xrp price is broadly following bitcoin downtrend.

Ripple got something big on there back plus btc value decreases.

Sure BTC is falling but since BTCXRP is going down it means that XRP is more or less stable (at least at the moment), and thereby appreciating against BTC.

On the forum are so many people opposed to ripple because of it not being open source
and the probable problems it can cause for non knowledgeable users when granting to much trust to others (failure to pay given credit back), that it doesn't really make sense to my why these premined "stamps" should be worth so much BTC.

UNLESS I am utterly missing something...

What do you mean with "ripple got something big on there back"?
Can you be more specific?

google investment , edonkey and mtgox original creator

Paypal, Liberty Reserve, WebMoney, PerfectMoney, Payza, Moneybookers, this are successful ecurrencies that transact billions per year. Owners or company who controls the servers of this ecurrencies can create amount out of thin air and all are not mine. Promotion, stability, liquidity and investment is the key to a successful ecurrency. Mainstream users don't care about premine or centralized or opensource as long they can use it they will use it.

Yes there are telling signs to watch for when you pick a coin, so far I've invested in BTC in 2011 which grew exponentially as it had great people involved, Ripple XRP early in the year which has went up over 2700% again due to great people, and then finally IFC which seems to have a great set of people involved also and I expect that to have a similar rise of 2000%+

Who are the great people in IFC ? What made them great?

Millions if coins, that can't be bad  ;D

Ripple is reminiscent of 1998's DigiCash that went bankrupt a year later. It has all the worst features for a digital currency. It is centralized, closed sourced, and volatile. Right now, it is piggybacking off of cryptocurrencies because real financial payment systems like PayPal won't touch it. Personally, I think it is nothing but a lame attempt to market a premined coin as something radically new. Ultimately, if Ripple does enjoy a measure of success it will be cloned more often than Fontas coins.

I think you are wrong and not well informed of what is it.

anything that somebody pays to have trolled whilst VCs are investing is worth a hit, and regardless of XRP, ripple itself is rather good to use.. i mean I can go from BTC to USD on one exchange, put that USD to another exchange swap to CNY, buy back BTC with CNY, convert to USD again and buy back BTC again in a minute or two using ripple, can't even get 1 confirm for a BTC transfer without it in that time.

I am sure that many people invest a little as a hedge, like Microsoft buying Apple stock even though they are competitors. Like DigiCash, Ripple will probably get a lot of hype for a year.   :D  Then die.   :D

RippleScam is going nowhere

JoelKatz stated here it is not possible to go back to the genesis ledger due to a bug. It is only possible to go back as far back as ledger 32,570.

https://bitcointalk.org/index.php?topic=174854.msg2352658#msg2352658 (https://bitcointalk.org/index.php?topic=174854.msg2352658#msg2352658)

Can the Ripple network totally guarantee that there are currently no more than 100,000 million XRPs?

Ripple itself probably is a nice trading system, but their XRP is certainly hyip-like bubblecurrency.
You can make some money trading XRP, but sooner or later its bubble will bust like any pyramid.

Maybe if it was open sourced. So far it is pure vaporware and smells like Ponzi tulips.