Bitcoin Forum

I'm surprised people aren't talking about this more, but OpenCoin's Patrick Griffin (EVP Biz Dev) just announced it a NYC bitcoin presentation a few days ago....that Ripple will be open source on Sept 26 (or end of the month at the latest)

Here is the Youtube vid...it is in the first one minute or so when he says it, so you don't have to watch for long:

https://www.youtube.com/watch?v=z71NwcHWBBg&t=1626

I noticed some big buys of XRP last night, so I think people are loading up for this..seems like a good buying opportunity with not much downside but a lot of upside but you be the judge.

Also announced by OpenCoin as the top story here:

https://ripple.com/

Here's an easy link to current price of XRP (in US$) -  http://rippleprice.com

UPDATE:  More positive news...likely ZipZap integration with Ripple.  http://www.thebitcointrader.com/2013/09/xrp-surges-nearly-300-in-just-over.html

http://ripplefederation.org/news/looks-like-we-might-be-getting-some-big-news-from-zipzap?xg_source=twitter

UPDATE 9/16..when I first posted this thread, ripple was at .006 USD per XRP.  Now it is at .0083, up over 43% in under two days.  

UPDATE 9/17.. Now it is at .0096, up over 60% in under three days.  

UPDATE 9/18.. Now it is at .0110, up over 83% in under four days.  

UPDATE 9/19  Still strong, holding over .01, and open source news is Front Page at coindesk.com:.

UPDATE 9/26  Open source announced as expected and up to .0132, up 120% from when this thread was first posted about 10 days ago.  

UPDATE 9/30 Finally pulling back hard now..could be because the client software is an utter and total trainwreck and many people cannot even login.

http://www.coindesk.com/ripple-plan-make-software-open-source-september-26/

XRP is moving on major news, and still moving upwards.  It doesn't seem to want to pull back...more buyers coming in.

All-time high for XRP was about .021 several weeks ago.  So it is still only half of that and has more room to go and not even be at record high.

AmazonStuff posted this later on in this thread and he makes some great points:

"Four events that make me feel that Ripple XRP will skyrocket in October

1. September 10

"Open-sourcing Ripple" Announcement
Everybody has already seen and heard that Patrick Griffin, Head of Business Development, OpenCoin Inc. in this video https://www.youtube.com/watch?v=z71NwcHWBBg&t=1626 (watch the next 20 seconds) made the big announcement about Ripple going to be open-sourced by the end of September (probably on September 26).

2. September 26

"Official" announcement
Many Bitcoiners are sceptical about this video and they want "official" announcement on Ripple Blog, it's probably a question of time when this is going to happen, probably it will be announced on the day when Ripple is actually open-sourced.

3. September 30

Bitstamp only for verified members
I believe that many Bitstamp members who are concerned about their privacy will transfer their funds to Ripple network, Bitstamp is already connected to Ripple and it's a matter of seconds to transfer funds from Bitstamp to Ripple.

4. October 6-10

Ripple at Money2020
Probably the first time many big players in the financial, banking and payments industry will learn about Ripple.  Partnership with ZipZap expected to be announced.  (Big!)

So is the Ripple XRP a different kind of bitcoin and if so, how is it different/better?

http://www.newfination.com/2013/08/01/the-ripple-network-review-what-is-ripple/4103/

XRP is down about 70% from its highs, which is why I think it should really surge on this news once more people find out about it.

So what does the Ripple System improve?

I tried to find something but I just cant see anything
valuable in the Ripple...

I just re-visted ripple after a few months away from it because my head was hurting from it. After further figuring it out it sort of like extending credit to strangers but to start you have to establish a line of credit with someone you trust so you both bare the responsibility for any defaults on loans. Not sure this is a good idea yet.

edit: after visiting my account I sold 0.03 BTC for 300 xp's to someone lol...had no idea or don't remember.

It won't surge.  OpenCoin owns billions of XRP from the premine.

100 Billion to be excate.

Interesting, who forced them to release the sources?

XRP are largely irrelevant... spam prevention.

Ripple is a decentralized debt tracker.

ripple.    *** yawn ***

With XRP, the order book is built into the protocol. With bitcoin, each exchange maintains its own proprietary/closed, centralized order book. XRP "federates" the exchanges into ripple "gateways". Gateway deposits become ripple IOUs, and they get traded for XRP in a global decentralized ledger of bid/ask offers.

Anyone know if you can do a chargeback on ripple? meaning I just sold 0.03 btc for USD on ripple what happens next?

So is that why it surged 2000% at one point?


Yeah making 20x return on your money is so boring... * yawn *

Hello,  I don't discount ripple its just pretty complex. When you say "surge" what are you talking about ?

"Surge" would be the XRP price moving up 25% or more in a relatively short period of time.

XRP has shot up on Opencoin news a few times before.  Things have been quiet and this is big news and a catalyst to move it higher.  I'm not debating the merits of the protocol, just saying it is significant news for XRP and crypto community as a whole.

There is no volume.

It's like $20K/day... down from $100K/day 3 months ago.

Anybody can push this market around at will...
OpenCoin doesn't have the foggiest idea how to manage a currency.

And Griffin's comment was "our technology" will be open sourced...
With no confirmation from the mutes at OpenCoin...
So this basically means nothing.

OpenCoin is completely dysfunctinal...
That's why they are going to Vegas...
Maybe Ripple will stay in Vegas.

Oh there is an actual price for xrp ? how can that be with there is 100 billion of them? where can I see the price?

Yes exactly...volume has dried up lately so any significant buying interest will push it up.  And there was some big buys last night.

And Griffin is OpenCoin..he's a VP there.  

It's up to you whether Ripple going open source means nothing to you, but time will tell if it means much to the other buyers/traders/speculators out there.  

It is just very low risk and high potential reward at the moment, which is why I bought some last night.

The price is determined by supply and demand.  Right now one 22000 XRP is worth about 1 bitcoin...and 1 XRP is worth about .006 USD.   

The high a couple of months ago was 3x this amount, so plenty of room to run and not even break the highs.  Judge yourself if what I'm saying makes sense.

Oh I see ok that make sense pretty cool.

Actually, I like your bet on Ripple. Good luck with that.

Personally, I make 500 trades/day on the NYSE...
And do not trust the Ripple network for more than a few $1000...
And am basically sick and tired of the whole Ripple saga.

Thanks for making us aware of this.  I have been buying and selling Ripple for months on this site and in the ripple client, and I miss trading it.  It died out a bit but this does seem like a good bet to take. I will buy some today.  It looks like the price is already creeping up a bit and this news has not spread very far yet.

where do you sell ripple?

www.rippleprice.com (http://www.rippleprice.com) to check the price quickly, with USD as the quote currency (eg $0.006 dollars per ripple).

In most other places, eg http://xrp.webr3.org/usd-xrp (http://xrp.webr3.org/usd-xrp) you'll see the price quoted with XRP as the quote currency (165 ripples per dollar. 1/165 = $0.006 dollars per ripple)

Thanks this is what I was wondering! Thank you!

I usually have a thread posted in the alt currencies forum.  I buy it, more than sell it on here.

https://bitcointalk.org/index.php?topic=190456.0

Yes the all time high was about .021 dollars per ripple.

So that is 250% increase over where it is now, and plenty of room to run.

It just needs a catalyst to shoot it back up, and this very well may be it.

The last time they did a giveaway, it shot the price up 30% in one day.

Ya, I hear you on that. I found it funny the company's name is OpenCoin yet they are just getting to open sourcing it haha

Yeah they aren't very organized and have made all kinds of strategic errors along the way.

I am not a Ripple cheerleader but I am still a fan of XRP because I have made some profits on it and it's an interesting trading vehicle.

The ripple client is actually pretty cool once they get it running well.

Yes, I see you've been snatching them up  ;)  I'm assuming you can't disclose how many xrp's you have?  Sent you a PM  ;)

Well I have bought and sold a bunch of them over time.  I don't have a huge position in them at the moment but going to slowly accumulate as it rises on the news.

How about the top item at https://www.ripple.com:


So an encouraging official statement, though not yet confirmation of Sept. 26.  That might require a title more like "New Hires to Work Miracles in 14 Days".

Presumably releasing the code does not equate to sharing control of the network yet.  I hope the protocols are strong and no major vulnerabilities are found by the wrong parties.

They should keep the security bug bounty in force for a good while as a hedge against that.

The only reasonably tight market is thru the Ripple client.

You log into your Ripple wallet...
(Assuming you already loaded some BTC via Bitstamp)...
Then go to Advanced/Trade/Select "BTC/XRP"/Select Issuer "Bitstamp"/Click on Order Book...

Bitstamp Market looks like this Sunday Night Sept 15th (click on it to enlarge):

http://s21.postimg.org/hv99g9zkz/ripple_order_book.jpg (http://postimg.org/image/hv99g9zkz/)

Then there is also the USD/XRP market.

Aha, good catch....so it is even more official now and this news should spread in the next few days. Watch the ripple client and if you see it start to edge up, then jump on quickly.

And BTC/USD etc.  Surprisingly this is handled separately from BTC/XRP and XRP/USD.  (There are no automated 2-step trades.)  So BTC/USD has very low volume but is sometimes superior pricewise.

Have you discovered how to get the Bid & Ask tables side by side every time, as shown in your image above?  Most of my browsers & screen resolutions & zooming factors place the Asks below the Bids, which is tedious.  If not, I'll have a look at the HTML.

[Edit: I have found a temporary workaround for this glitch (tested so far in Chromium): instead of a full-screen or maximized window, slightly reduce the browser window's width.  Try a range of sizes.  On Linux, you can also make the window wider than the screen.  Either way, the Asks now appear properly to the right of the Bids, until the window is maximized again.]

Not quite true. I'm pretty sure the BTC/USD order book is "synthesized" by combining the BTC/XRP and USD/XRP order books.

Currency conversion in ripple is automated. It's called "path finding", and it finds the cheapest "route" through the order books. This happens when you send someone a payment and they've chosen to receive a different currency/IOU than what you are holding.

My favorite place for price checking is here:

https://ripplecharts.com/
I especially like the ability to flip the chart, more charts should do that.

Might be time to grab a few more if this rumor is true.

It would be great to see "OpenCoin" actually living up to their name and their promises.

Yeah, be sure you are ready to read this.

Hope big promotion for XRP

I wish this were the case for trading, but it's not (and might not be feasible).  The BTC/USD orders do not seem at all "synthesized".

Pathfinding is Ripple's beautiful way to send value to someone else, if there's any trust path between you.  But it seems unused when you trade a currency for another one (keeping it yourself) using the interface at "Advanced > Trade".

Evidence:

There are often small spreads on BTC/XRP, and on XRP/USD, yet a much larger spread on BTC/USD (or vice versa)!

And, the order books tend to be vastly longer for the XRP-linked pairs than for BTC/USD.

Arbitrage can improve the BTC/USD pair, but so far there's very little volume there.  Traders on Ripple should be using it routinely to save half the transfer fees compared with doing the same trade in two steps.

Let's hope more Bitcoin traders realize Ripple is an alternate Bitstamp interface, and then some!

______________________________________

Are "synthesized" order books possible?

I can imagine a procedure to match up partial orders between BTC/XRP and XRP/USD and add synthesized results to the BTC/USD book.  It would make that order book much longer than it is now.  Probably all the generated orders would change very often, which is also not seen at the exchange.  (Changing one order could affect a great many others.)

As for the reverse, there may be no workable way to "split" the BTC/USD book and show those results in the two XRP-based order books.  The valuations would be arbitrary.  Think it through and you may agree.

Can't wait to see the source code though.

You're counting on rationality of market participants. Count again.

If you don't have XRP, you're about to miss the gravy train.  Especially at these prices.  ;D We sat at the 6000k-8000k range for months.  Open source news may well push this under 1k. 

Aside from price speculation, this is great news as open source is the number one complaint against Ripple.  This will drive a stake right through the heart of the Ripple haters who have claimed Ripple is a scam that will never be OS.  Once that's behind us, people can finally look at what genius looks like.  OpenCoin is far from a perfect company but Ripple is simply genius and an asset to the entire crypto currency world.  The future is so bright...I gotta wear  8)

Try holding only USD, and then send a payment to yourself, received in BTC. You should see some trading happen on the order books (the USD gets exchanged for XRP, and the XRP for BTC).

Why two steps? shouldn't the USD terade directly to BTC ?

Or do they add a step deliberately to force their XRP to seem to have some value/use?

-MarkM-

Market depth could be larger if you combine USD --> BTC and USD --> XRP --> BTC...

You can trade directly, XRP are used as intermediate only if the total trade would be cheaper. The only deliberatly forced mechanism in Ripple is that you need to have a minimum balance of XRP to use an account and to open trust lines. It does not seem like you watched the video linked in the OP.

I normally do not even try to watch videos, too many end up wanting me to use flash, which I do not use.

I even tried installing gnash a while back, but that left a litter of processes lying around so I got rid of it.

I prefer writing anyway, it is more random-access and read-at-your-own-pace, video tends to be sit around waiting for the slowest common denominator to get it through his head, so ends up wasting too much time.

-MarkM-

Yet you couldn't name even one.   ;D. Like it or not, Ripple is here to stay and is good for digital currencies.  Of course one would have to actually understand Ripple is not a currency, before one could actually grasp why Ripple is a benefit to all crypto.

There is no "mining", because there's no proof-of-work. Using "consensus" instead of proof-of-work is what enables new ledgers (analogous to blocks) every 5-10 seconds.

Mining rewards give the incentive to process bitcoin (and other alt-chain) transactions. That has led to plentiful bitcoin nodes and hash power. But it has left a network of exchanges which is lacking, "balkanized", and expensive. (the spread between bitstamp and mtgox is a consequence of this).

With ripple, it is OpenCoin giveaways which provide the incentive to become a gateway (as opposed to mining rewards to become a miner). And the infrastructure which XRP provides (order books built into the protocol) makes it easy for anyone to provide exchange liquidity (cheaper fees/smaller spreads should be the consequence).

XRP acts like the grease-and-gears for exchanging bitcoin (think of it as the dollar for trading the gold).

I won't argue that its a shining light of egalitarianism, but certainly moreso than the conventional bitcoin exchange (and its more transparent to boot. IOU deposits aka "gateway capitalization" are public in-the-ledger knowledge, currently standing at $284k USD and 2,250 BTC).

I assume that either means you have no talking points left and/or your "Bitcoin Megastore" is actually a non-profit, charitable organization.    ::). BTW-Ripple would allow customers from all over the world to buy goods from you with any currency, while you continue to receive payment in BTC or any other currency you choose.  When you stop thinking of Ripple as a competitor to Bitcoin, you'll actually see the benefits of the P2P payment network, that is Ripple.

XRP is up about 30% in the 24hrs since I posted this thread.   

Easy money for those who paid attention and were irrationally skeptical.

Where can you see this?

The best part is even if we only settled back to where we were, 5000-8000/BTC, there's still time to triple ones money buying in now.  However, I think open source very well may drive this below 1k/BTC.  Now that's some serious profit.   ;D

http://www.rippleprice.com/

Going to start a price watch here.

When I first posted this thread, this was at .0060.

Now it is at .0080, so that is solid 33% gain.  

I bet we see solid 100% before the run is over.  Sept 26 is still days away and Ripple was at .02 several weeks ago.  So that would be over 300% gain and don't be surprised if it does that. I'm looking for just 100% though.

It's still not too late to jump on, so check it out.

Bitcoin and Ripple are totally complementary tools, because Ripple seals the biggest hole in the Bitcoin and that is exchange. Any crypto-currency is nothing without exchange, bitcoin currently uses websites for this purpose which makes him vulnerable, because any exchange website could be shut down by some government if bitcoin becomes considered as illegal. Also, by exchanging currency on this kind of websites you become a subject to tax regulations (you know all those "AML verifications" that are popping around on exchange websites) and someone could knock on your door and say you are a money launderer.

By joining Bitcoin with Ripple, you will able to exchange Bitcoins in Ripple P2P network.

Open-sourcing Ripple means that in the future, every user will have a copy of rippled server one-click installation (similar to WAMP, MAMP, LAMP, XAMPP...) at his home, just as everyone has Bitcoin client in these days, and will be contributing to the P2P Ripple network that will be bullet-proof just as torrent p2p network.

It's totally impossible to love Bitcoin and hate Ripple or vice versa, because they are probably the work of the same man or the same group of people. It's just the natural evolution in the crypto-currency world.

The gateway cap isn't charted anywhere (yet). But in IRC, ripplebot gives an update whenever it changes. You can use the web IRC client http://webchat.freenode.net/ (http://webchat.freenode.net/) and join the channel #ripple-market to see them (gateway cap updates are the "CAP" messages).

Yes exactly...could easily double from where I first posted it at .006.  Even going to .012 would still be about 30% below all time XRP highs several weeks ago.

Don't fight the momentum...just jump aboard and enjoy the ride.

Yes thanks again for posting this.  Much appreciated and I'm up 25%.  I just added some more too. I agree that it has farther to run.

I love this quote.  I love it when people are so absolutely sure about something and course they end up being 100% wrong.  Got to love that confidence...I mean arrogance and cluelessness.

so the only way for me to buy ripple with BTC is to boot into linux and build the client myself...?

all statements are shortsighted. people are better off making long term predictions. the chances of ripple being successful long term are small.

No, you can create a wallet here:

https://ripple.com/client/#/register

You'll need a Bitstamp account and about 100 XRP to initially fund your account.  You can buy 103 XRP from Bitstamp for $1.  Then within Bitstamp, go to withdrawal -> Ripple and follow the "trust this address" link.

Then in your Ripple wallet you can go to Advanced -> Trade to set Bitstamp as the issuer for XRP/BTC and you'll see the order book. 

Really?  Based on what exactly?

That's a non sequitur... I never said anything about long-term success of ripple. I just said that there was a good chance the XRP price would move up sharply on this open source news.  I was hoping for 30% in a week and instead got 30% in a day.

I hope that tomorrow we will hit 10 000

thanks a lot! got it now.

So what happened on the 16th of August to cause such an incredible crash in price?

It was just technical pullback mainly.  It was going down and down and then accelerated and then bounced back about 75% in a couple of days.    So panic selling followed by panic buying, basically.

There was just a news vacuum for a long time which is why this news is extra significant.   P

Plus the main criticism you hear about XRP on here is that it is closed sourced, so it will be open source soon and more accepted.

It's very hard to be sure. There are three factors that are generally mentioned:

1) Loss of forward momentum: The rate at which new things were announced by OpenCoin was perceived to have decreased.

2) Large XRP sales: OpenCoin had an old commitment to pay 200 million XRP. When that commitment was honored, some of that XRP was sold with very large sell offers that filled only partially and were then removed. Some were concerned that this large movement of XRP may have reflected a theft or the beginning of a pattern.

3) Price momentum: If the price of XRP is dropping, people want to wait to the bottom before they buy. And some people may decide to sell and buy back at the bottom.

But this is all really speculation.

Thanks for the straight up answers.

Anytime, glad I could help.   ;)

Why don't you tell us exactly if Ripple is being open sourced rather than side stepping the real question of this whole thread?

Ripple was designed to be open sourced from the very beginning. Like Bitcoin, it makes numerous design tradeoffs to allow it to function as a decentralized system with no requirement for central authorities.

Yes, but will it be open source on the 26th? It sounds like this is all hype and OC just do not want to respond as they are enjoying the price rise without the backlash.

they already announced it.  What is there to "respond" to?

lol at you.  So you think I pumped it up 30...I mean 43%?   

Nope it was the news that shot it up and I just made people aware of the news.  Those that took advantage of that knowledge made 43% on their money in a couple of days.

You clearly did not take advantage of it...but don't worry, will be other opportunities in the future.

www.rippleprice.com

.0086.  Up 43.3% and still rising...

The numbers don't like and neither does the news.

Oh yeah I forgot that an OC employee or mod confirmed this on their forum/ blog... Not. You know? The blog which reports small scale news such as charity donations but fails to write about arguably the biggest announcement in Ripple history so far.

Have you not wondered why no one is yet to confirm or decline that YT video? Not even JoelKatz who will not confirm anything... Hmmm. This dump is going to be more spectacular than the failed LTC implementation on Mt Gox. People buying at these prices are going to get burned, with the hundreds of millions of new XRP in the wild (from the 200M account), don't expect the price back down to 5000: 1.

Use your head next time.

Most people are buying into the hype with little knowledge about the Ripple market or what it even is. I find it hilarious. The price is so inflated right now that it is going to burst fantastically. Don't think big BTC holders are going to be tied down into the Ripple system for years when most of them hate the bugged centralized system.

But I don't really care, everyone else is just making me filthy rich when I bought at 40,000 xrp/ 1 btc.

Six events that make me feel that Ripple XRP will skyrocket in October

1. September 10

"Open-sourcing Ripple" Announcement
Everybody has already seen and heard that  Patrick Griffin, Head of Business Development, OpenCoin Inc. (http://www.linkedin.com/pub/patrick-griffin/5/125/72b) in this video here (https://www.youtube.com/watch?v=z71NwcHWBBg&t=1626) (watch the next 20 seconds) made the big announcement about Ripple going to be open-sourced by the end of September (probably on September 26).

2. September 26

"Official" announcement
Many Bitcoiners are sceptical about this video and they want "official" announcement on Ripple Blog, it's probably a question of time when this is going to happen, probably it will be announced on the day when Ripple is actually open-sourced.

3. September 30

Bitstamp only for verified members
I believe that many Bitstamp members who are concerned about their privacy will transfer their funds to Ripple network, Bitstamp is already connected to Ripple and it's a matter of seconds to transfer funds from Bitstamp to Ripple.

4. October 6-10

Ripple at Money2020
Probably the first time many big players in the financial, banking and payments industry will learn about Ripple.

5. October 10

Ripple XRP DevCon
Co-joined event at the last day of Money2020.

6. Somewhere in October...

Bitcoin dump
Bitcoin possible dump in October, what always happens in this kind of situation is that XRP are usually going up to some extent.

Yes and Bitcoin went to 260 because of the "fundamentals".

You don't understand how markets work. 

1. You saw that JoelKatz couldn't even confirm it nor any employee that I have asked. They would announce it on their blog if it was true, like I stated earlier. They announce EVERYTHING.

2. There is no announcement because it isn't true.

3. What the hell are you going on about? Bitstamp has been a gateway for ages and it is secure. Ripple in BETA is less secure and there are weekly instances of wallet hacks or general glitches which have ended in loss of income. Get your brainless facts straight.

The rest of your points are rubbish and you act as if Bitcoin has never been at financial events before. If you look at the news. People are talking about Bitcoin, not Ripple. You are delusional and probably mentally challenged. Good try, you must hold lots of XRP. Unless a HUGE flood of support comes into the Ripple ecosystem, Ripple will not reach its all time high as it is being diluted with huge XRP dumps by OC and their shady dealings. With the recent expansion of their team, more employees need to be paid which means more XRP needs to be sold. You do the maths.

Nice summary.  I will copy and paste this in the first post and give you credit.

It was announced publicly by an OpenCoin VP and echoed on ripple.com.  You live in an anti-ripple fantasy world.  The rest of us are living in reality (and making profits on XRP).

http://www.rippleprice.com/

And now the big question how much it will sky-rocket...

Ripple XRP spent majority of it's non-opensource existence @ 1BTC=7000XRP, so I guess in open-source phase... it will be much valuable.

This graph will explain it visually:

http://image.bayimg.com/433802b6e18c5695b51e98c23c655359ec05ead2.jpg

Who said I'm not a holder? I'm seeing clearly, you on the otherhand along with your alt account are the only people hyping this (doing a good job I must add) but the frenzy will stop and the dump will be spectacular. So in conclusion I'm speaking from an unbiased point of view as I hold XRP and BTC, yet you're this dysfunctional human juicing from the mouth trying desperately to keep this fake hype up. There will be no open source on the 26th, get over it.

is it normal that bitstamp takes forever to send the xrp you bought to your ripple wallet or doesn't do it at all? :D been a few hours now since i bought some for $1.

Bitstamp history:

Bought 129.062500 XRP for 1.25 USD. Sent to r9wDDLi5DuN2Sa1FQBddAXAN27QNAueSEA in transaction None

:(


also, that is not 0.0086 $ per ripple.

Bitstamp seems to have its issues from time to time, yes.

If they don't transact within 24 hours, I'd recommend opening a ticket with them.

Yeah you got duped. It is more expensive through bitstamp. If you need more XRP, let me know ;)

His account hasn't been funded yet, so besides getting giveaways, he needs to buy on the external market and can't use Ripple internal...

Put me on record: If OCRipple is fully open sourced with no catches or "gotchas" (such as it not really being decentralized) on Sept. 26, 2013, I'll eat my hat.

What do you count as "not really being decentralized"? It is unlikely that there will suddenly be hundreds of trusted server operators out there on the same day that it (supposedly) is open sourced... Currently there are a low 2 digit number of rippled servers running of which only the minority is operated by OpenCoin. Is this enough for you (and at which point was Bitcoin "really decentralized" by the way?)?

This hype came from a video which is not supported officially on the blog or by the staff. If one staff member can say it, why couldn't JoelKatz confirm it before? Lucky for you, your hat will still be intact considering this is just a hype thread fueled by a couple of Ripple supporters. The poor suckers buying at these prices. What idiots.

ok, bitstamp is simply taking too long - can someone quickly send me those 100 XRP to r9wDDLi5DuN2Sa1FQBddAXAN27QNAueSEA in return for 0.01 BTC?

I'll send first if your username isn't scamperor with 3 posts etc. :D

Wow, I am looking forward to see that :D     

Another nice video describing ripple :
http://www.youtube.com/watch?v=w8c_m6U1f9o

No particular nod is needed for Ripple to continue it's existence as p2p network, so Ripple can work without OpenCoin in the future.

Also from the Ripple Terms and Conditions:

It's amazing.  Never have I seen such hatred of a crypto currency rising in value.  As was said, the goal was always to open source Ripple.  I really thought it would be closer to years end but there was never a doubt it would be so.  Now people are mad because they are too immature to simply admit they were wrong.  That you fell for the real scam, which was all the hollow propaganda against Ripple instead of doing your own research and having a little faith in your fellow Bitcoiners, who created Ripple as a compliment to Bitcoin.

Love Ripple or hate it...anyone who is still sitting on the sidelines with these prices and this momentum, should not speculate on currency.  You're simply too emotional to make good decisions.  This is easy money.  If you're too blinded by your ignorant biases to see that, you deserve to miss the money.  Especially given XRP is so cheap...how do you at minimum not have a BTC or two worth, in case this is XRP's "260" moment?  I mean really?  Risk vs reward.  How many times will Ripple go open source?  I hedge my bets across many different crypto currencies, but then again, I'm not an emotional speculator.  I'm in this to make money.  Misguided ideology doesn't pay the rent.

What are you talking about? Only a month ago the prices were 45,000 xrp/ 1 btc which is when I bought in huge, yet I am still trying to talk sense into mindless idiots like yourself. Most people do not even understand Ripple yet they are buying into it at these ridiculously high prices due to select individuals who created hysteria from an unconfirmed video. 

Before you question other peoples sanity, how about reassessing your own insanity. Have fun buying at stupid high prices. Suckers like you are just making me rich.

Unconfirmed video?   ;D. Yes, I think it could have been a CGI clone of Patrick.   ::). And since you and your buddy up their seem offended...rest assured, I was definitely talking about you.  You bought in at 45k?  That's awesome...I just don't believe you.  People who go around calling Ripple a scam, don't often buyin when it's crashing and certainly not crying about watching your investment payoff.  I'd love to be wrong though...because my maturity level can handle it.  Post your Ripple address and let's all have a look at your "buying big" at "45k".  Come on...make me wrong.

In the future everyone will be in position to run their node.

Ripple solves the double spend problem by consensus, read more here: http://bitcoin.stackexchange.com/a/10204 (http://bitcoin.stackexchange.com/a/10204)
Watch the video: http://www.youtube.com/watch?v=pj1QVb1vlC0 (http://www.youtube.com/watch?v=pj1QVb1vlC0)

Up 60% now from when I posted this, just about 3 days ago....and still going...

At this rate and with the absolute usefulness of the Ripple network, it's not beyond the realm of possibility, to start thinking about XRP reaching parity with the USD.  LTC is sitting at $2 and is just another digital currency with a limited payment network.  Ripple is a crypto game changer and open source removes most doubts.  I'm not saying it's going to happen, I'm just saying it's certainly possible.  I've got the popcorn ready!   :o

It already could, as there are more non-OC servers in the network than OC servers online. Most of them probably use OC servers exclusively in their UNL though, to ensure that any needed changes actually are accepted until opening up.

Ripple is already now able to establish consensus without any centralization, the only reason it maybe (I can't tell which UNLs server operators are using) does still trust OC to a degree that it could be called "centralized" is that there could still be changes to the protocol that need to be done and that would be hard to do in a decentralized way if the operators of servers operate them in a "fire and forget" mode or start actively forking and/or testing the network.

Ripple is secured by having a diverse UNL (Bitcoin by computational power of miners), so the biggest issue that needs to be solved still imho is how to actually build a good UNL with trusted, non-colluding entities asap after going live.

XRP back to .01 USD.   That is up 67% now.  

And remember the record high for XRP was just over .02 USD a few months ago.  So still has room to run and won't even be where it was a few months ago.

XRP can DOUBLE from here and still not be where it was in June.   So I'm adding more all the way up.

Sure do...I also understand speculation.  BTC and LTC are both over valued but speculation on future values helps drive prices higher.  In the world of crypto...anything is possible.   ;)


That remains to be seen.  If Ripple is a game changer and XRP is the only native currency, requiring no trust lines, it's fairly safe to say XRP is going to fair very well in this scenario.  

Yes I don't know if XRP will ever be $5.00 but right now it is $.01.  Even if it goes to ten cents, that is 1000% profit.

And as I said above, even if it just goes back to where it was in June that is 100% profit from where it is right now at .01.

But we should estimate the current value based on the current float (amount in circulation), not what it might be in 2030.

Back of the envelope: current BTC float approximately 11 million. rough estimate of current XRP float is between 1.5 and 3 billion (source (https://ripple.com/forum/viewtopic.php?f=1&t=3590&p=17005)). But let's be generous and bump it up to 10 billion.

11 million btc at $100 is a market cap of $1.1 billion USD. If XRP were to have similar value, then it gets the same market cap (over 10 billion coins instead of 11 million). So $1 billion USD / 10 billion XRP = $0.10 per XRP.

Now I'll reserve judgement on whether XRP should be valued similarly to BTC (let the market decide). But this is the same back-of-the-envelope reasoning commonly used to justify an LTC price relative to BTC.

Where is a giveaway where you can get XRP in "large" quantities?    I'm not aware of any.

And you are back to debating the long-term merits of Ripple vs Bitcoin.   I posted this thread purely as a play on the big news.  I never advocated XRP as a long-term "investment".   Personally I think Ripple has a bright future, but I haven't advised anyone to buy some and hold it for year. I just suggested that people consider buying it on this open source news and it's gone up 60% since then.

Ahbritto It's nice to see you here :D

And OpenCoin knows exactly where and when they will distribute the rest, and are therefore in a position to play the market accordingly.

That is a lottery type of thing...not a giveaway that everyone is eligible for.

So 1000 XRP is a "large" giveaway?  1000 XRP is worth $10 right now.  Keep grasping for straws.

"...offering free Ripple Developer Conference tickets and 50,000 XRP on a limited, first-come, first-served basis."

I agree with you, we do know how the bitcoin float will change. And about those large quantity XRP giveaways, PM me please (lol).

And you're right, we don't know how exactly OpenCoin will distribute the rest. What we do have is their pledge to give away 50% (fwiw). And the common-sense expectation that they will do so in a way to maximize long-term XRP value (their explicit profit-model).

The OpenCoin monopoly on XRP is (for non-employees) a bitter pill to swallow. But it comes with advantages (a simple profit-model strictly aligned with interest of XRP holders, aggressively pay developers, bootstrapping new exchanges/gateways with strong incentive, giveaway "faucet" to entice new users, etc).

There might be other "non-profit" ways of developing a next-gen crypto-currency (eg community debate on vague proposals of p2p distributed exchanges in various forum threads). But I haven't seen them amount to anything.

Your quote:


So now you are saying the giveaways are no longer large, which is what I said to begin with, which was my point that you were incorrect and making things up.  

The 1000 XRP giveaway from SnapSwap is more tahn you'll ever need in a lifetime likely... I'd call that a large quantity.

1000 XRP is $10 worth.  So sure you can call that large. I guess it is compared to 1 penny's worth, but most people would not consider it large in the context of our discussion.

And Snapswap has a new 2000 XRP giveaway if you use Dwolla to fund your acct.  I'm taking advantage of that one.

True, but, OpenCoin interest is aligned with all XRP holders. And the ripple market is also much more transparent than conventional markets. Anyone can watch the OpenCoin addresses (like we can watch Satoshi addresses). And everyone can see the amount of funds entering and leaving gateways. Compare this to the current bitcoin exchanges, where whales and exchange insiders have an exclusive knowledge of fund flows, and therefore a huge information edge.

So what is Satoshi doing in these days? :D

iirc, Gavin's bitcoin faucet was originally giving away 5 BTC per ip address. That was right around the time they were approaching $1. The snapswap giveaway started at 1500 XRP, but that was in exchange for verifying a bank account. They've lowered it to 500 XRP, and that's only with a $10 dwolla deposit.

Yes like when they were giving out 50,000 free XRP and the price still went up 2000% after that?

And you can rant off topic as much as you like about what XRP price will be in 10 years, but this thread is about the short-term price appreciation due to the open source news.

It can be "overpriced" as much as you like but if you buy at $1 and sell at $2, then you still make 100% return on your investment.

The time to sell may be late October, but sure isn't right now with it still moving up sharply.

The fact that people can still buy above 10k/BTC is insane.  I wouldn't expect this to last much longer and likely the last time we'll ever see prices like this again.  

There is no way to prove that OpenCoin isn't "giving away" the majority of their XRP to addresses which actually are controlled by OpenCoin (or their employees) themselves. They would have to reveal the identities of the users behind those addresses for that, which is not going to happen as it would compromise the privacy of these users.

Who are the major servers right now?
Are there other gateways besides Bitstamp?

has anyone else thought that some of the xrp given away went to OPENCOIN and that they are selling them for btc at "market price" and that the btc  they get is how they make their money ;) rinse and repeat

jkkkkkkkk

We drafted the XRP distribution plan. If we thought keeping 80% of the XRP was best, we would have decided to do that. I don't see any benefit to us doing it deceptively and, of course, there's significant risk to doing things that way.

One of the main reasons I got into XRP in the first place is that OpenCoin's entire stated business plan is to make money from XRP price appreciation.

So their motives are aligned with XRP holders/investors/speculators.  They want the price to go up and they will do whatever they can to make it go up....which only benefits you if you are holding XRP.

They do sell XRP to fund operations and that's never been a secret. Selling XRP is their only means to monetize. As was just said, this is a benefit not a negative.  A for-profit company has it in it's best interest to see the value of XRP rise and with that, they can actually pay developers and staff to help insure the success of the network. Especially as they not only head into open source but as the federation of payment networks and the addition of major gateways and market makers begins to kick into high gear.

Now the thought that OC would be selling most of their supply through the internal exchange wouldn't make much since, as the market depth could not handle that kind of influx and prices would just crash.  Not in their best interest.  Selling XRP in bulk to gateways and market makers however, is a much smarter way of getting operational funding from XRP, without affecting the order books.  Where do you think BitStamp gets their XRP supply from?  Their own order book?  I think not.

XRP holding strong at just near .01.  I thought it would pull back more before shooting upwards even more, but looks like it isn't going to do so and should take it out in the next day or less.  

You cannot possibly believe this to be true. You must think we're all idiots. There are 100 billion reasons for you guys to lie about the giveaways and zero risk of getting caught if you did.

Maybe I'm being naive, but I genuinely do believe it. I believe that every single XRP we give away, we give away because we believe that best furthers the long-term prospects for Ripple as a payment network and that is in the best interests of OpenCoin.

Yes well again, OpenCoin's stated (and open) business plan is to make profits from XRP price appreciation.  So by definition, everything they do is going to try to get XRP to go higher, in both the short-term, and long-term.   

So unless someone is accusing individuals in the company of blatant corruption (which I haven't heard), then yes all the giveaways, secret or not, is still designed to get 1 XRP to be worth more and more.

You can criticize how they are going about it and think they are making mistakes, but doesn't seem logical to question their overall motives.

Anyway back on topic, XRP is still hanging out just below .01.  Volume seems to be kind of low the last fwe hours but seems to usually go up overnight (in terms of USA east coast hours). So I don't know if that means big buyers in Europe or Asia or what, but that has been the trend for awhile.  So should be interesting to see where it is in 8 or 9 hrs.

I'm going to guess that the open source release will be crippled in some way.

not much volume in btc/xrp if you convert value to usd.  if volume starts going over 100k usd, i might take a look.  right now it's up in the air. but who knows.  it's a good project and wish them all the success.

this.  same thing was said about btc 3 years ago.  look at it now.

http://image.bayimg.com/e0376cbca25ca6198e42b18794fdfff508c163ba.jpg

This small thread name has the small piece of future and explains what Ripple network brings to Bitcoin community:

1. Anonymity... Does MtGox provide anonymity, does any other exchange do that? Now after BitStamp goes with AML verification, what other bitcoin exchange is anonymous?
2. You will be able to exchange any currency, coin, alt-coin for any currency, coin, alt-coin...
3. This kind of anonymous Ripple gateways will start popping out like a mushrooms after the rain.

This is the clear evidence why Ripple network is complementary tool with Bitcoin and why Ripple will just strengthen Bitcoin, no more centralized Bitcoin Exchange Websites.

Exactly. ;)

That is awesome.

Well, it will be "crippled" in the sense that it is not too likely that suddenly everyone and their mother puts the node someone just brought online in their UNL - so someone unknown starting to run rippled would have limited impact on the actual network initially.

"Crippled" in the sense of for example "not being able to take part in consensus at all" or "can only run testnet" is unlikely, as there would be need for major restructuring of the code base to even remotely accomplish that. Also it could trivially be patched back in. I would recommend them to make rippled start by default in testnet mode (as a lot of nodes coming up at the same time might overload the p2p network with requests for historic data) with mainnet only available with command line switches or non-default config settings, but other than that I see no indications for "crippling potential" other than the mentioned "network killing itself due to sudden influx of nodes" scenario, which is not really part of the source code.

Nah, crippled as in "starting your own fork requires proprietorially and unreleased software". Will Ripple be open source or free software? There's an important distinction.

Apple has open sourced parts of Mac OS X, iOS, etc, http://opensource.apple.com/ , but that doesn't mean OSX or iOS is free software. Bitcoin is free software. Regardless, having source available is a good step forward.


You have GOT to be kidding. DividendRippler is not a currency exchange for starters, and even if it was it doesn't do fiat at all.

It's true that with Ripple there will be no more centralized bitcoin exchange websites. There will just be a centralized bitcoin exchange website. Claiming that trading via Ripple is more decentralized is like claiming that by using a desktop gox interface you're no longer trading on centralized bitcoin exchanges.

How do we buy XRP

Would you like to buy some feathercoin v2 v3 and Scrypt Bitcoins too? They'll probably fare out better in the long term relative to XRP.

Ladies and gentleman Mr. TradeFortress, give him a warm welcome.

Are you the owner of RippleScam.org? How will you handle the lawsuit from OpenCoin when they sue you for doing that?
By the way, Mr. Tradefortress I heard that your business is closed-source, off-the-chain, centralized, IOU issuing webwallet service that is advertising that it transacts (near) instantly between users?
Is that true? Good luck with that :D

The key thing is that Inputs compliments the decentralized Bitcoin instead of replacing Bitcoin with a centralized version and calling it XIO.

OK, thank you for your explanation, it's really a good moment for me to learn things that I was wondering for months.
What can you tell me about some people claiming that you offered them 5BTC to edit their posts to "Ripple is a scam" on the first page of the Ripple Giveaway thread? https://bitcointalk.org/index.php?topic=212730.0
https://bitcointalk.org/index.php?topic=145506.0
If it's the truth, what is the motivation behind doing that?
Thank you!

Bringing more awareness to ripple's false advertising :)

Do you know charities and non-profit organizations spend substantial amounts on advertising?

You're doing a nice job shilling for OpenCoin, awaiting your job offer & paycheck just like misterbiggs?

Good to know that, it's a really nice motivation :D

Can you tell me why did Google Ventures invested into OpenCoin, company behind Ripple if it was so obvious that it's a fraud?
http://gigaom.com/2013/05/14/google-ventures-invests-in-opencoin-the-firm-behind-bitcoin-exchange-ripple/

Yeah LOL.  At least magicaltux doesn't go around claiming that MtGox is a decentralized protocol.   Even though the trade engine does reach consensus by consensus.

Anyway, lets see what these guys can do.  There's a lot of talented folks on the team, who have more in mind than just sinking opencoin founders deeper in the black.  

All frauds have winners and losers :)

Ripple isn't a fraud in the sense that it steals your wallet.dat, but it deceptively presents what it actually is. That's because few people from this community would use it if they knew what Ripple actually is.

By the way, Google Ventures also invested in Buttercoin.

OK, thank you for you polite answers :D I was thinking that you made all that in order to buy millions of XRP at the low price, but I was obviously wrong :D

Looked through your posting history, nice ripple shilling.

Oh, and you've never responded to why you think DividendRippler.com is a currency exchange and compared it as such to pump Ripple and get people to buy the BS that ripple "compliments" bitcoin.

Of course, I'm the Ripple biggest fan and I have also invested a lot in it, it makes two of us people with the similar interest ;)

DividendRippler can be "anonymous" obviously only because it stays in crypto-land exclusively and doesn't deal with any fiat and the banking system.


Except that you can't physically "transfer" any funds from Bitstamp to the "Ripple network". The funds are still in your Bitstamp, they only set a flag that you see them in your Ripple account rather than your Bitstamp account.

It's only when you connect to a second gateway that a Bitstamp USD IOU can be auto-magically converted into the other gateway's USD IOU, because that's what Ripple does. However, you'll probably have to get verified by the other gateway too.

And if you convert your USD IOUs to XRPs (in case that's what you mean), well people can convert them to any crypto-currency really. XRPs even have an enormous disadvantage regarding this, because Ripple is not made for privacy; your Ripple account is an open book, public for the whole world to see. And your Ripple account is immediately tied to your verified Bitstamp (or other gateway) account. So Ripple will not pass the "Donations to Wikileaks/Snowden" Litmus test.

What do you think about "Bitcoin Bridge"?

EDIT: Here's the link https://ripple.com/blog/bitcoin-bridge-lets-ripple-users-make-payments-to-bitcoin-accounts/

The blockchain is great for AML (unavoidable public records!) but anyone could anonymously mine BTC!! Why don't we add centralized gateways and have them require AML, make up BS about how it "compliments" bitcoin when it's against everything Bitcoin and Satoshi stood for?

You do realize that OpenCoin Inc centrally added BitStamp as a bitcoin bridge to Ripple?

Sure it's decentralized  ;) ... erm, doublespeak.

FYI..

http://opencoin.org/Members/jhb/opencoin-and-ripple

https://ripple.com/forum/viewtopic.php?f=1&t=3516#p16196

That just confirms BitStamp is built in and confirms my point.

Still waiting for a response to your.. justification of DividendRippler being a currency exchange.

Sure, you got that right, currently Bitstamp is hard-coded into "Bitcoin Bridge" (I don't know if something changed about this), but you must realise that "Bitcoin Bridge" is a protocol, in the future every gateway will use it, so as we get more gateways then more "Bitcoin Bridge" will become gateway-less thing in Ripple. DividendRippler is just one bright example what we could expect in future, everyone could set a Ripple Gateway, that was my point. As the number of gateways raise, we will get more and more freedom for Bitcoin.

So it's OK if satoshi said "you must mine at BTC guild, eventually there will be more mining pools"?

The reason why BitStamp is the only bitcoin bridge is because nobody really cares about ripple, other than the shills of course. Delude yourself otherwise.

You know it's really an impossible thing to love Bitcoin and hate Ripple or to love Ripple and hate Bitcoin, same people build both of them, including Satoshi.

:D :D :D

:D

Would you allow people opening inputs.io Bitcoin IOU<--> Ripple Bitcoin IOU bridges/gateways?

There is an API to add your own gateways to a Ripple client, the Bitstamp one seems to be in there by default though (something I don't like either, though as the client is open source, I can easily patch that out).

The main difference between inputs.io and Ripple is that you don't try to open anything up to the public, so you have the benefits of running fully centralized. You simply don't need to create public ledgers, a way to rate-limit decentralized peers or a way to make sure which transaction was first, as this ALL will be handled by your centralized, closed, IOU-moving server(s).

DividendRippler is not an exchange, it is a gateway to enter the distributed exchange that is called "Ripple". Depending on your viewpoint it might be easy to confuse them with an actual exchange, as the process goes hand in hand (similar to SVN --> GIT similarities and differences). Also there are several layers on Ripple that are decentralized to certain degrees - gateways that issue/redeem IOUs, XRP as assets, the rippled servers that process transactions, ripple clients that construct transactions and display information... so far anyone can build a gateway based on the public API, the client code is open source and XRP are as valueless as BTC initially (though they might be worth something based on their usefulness and network effects). Even if rippled is open sourced, this can and will not change anything about the distribution of XRP - luckily they are not (unlike BTC) the only thing that the network can transact.

All in all I guess there is a lot of misunderstanding and misinterpretation going on around Ripple, which can be also seen here, as nearly any post about it (even if it does NOT deal with XRP as currency) gets moved to Alternate Cryptocurrencies while threads about other exchanges, markets or IOU issuers stay in their respective forums even if they rarely deal with pure on-chain BTC (or never at all, like BitFunder, who ONLY deals in weexchange BTC IOUs!).

AmazonStuff has earned a place on my mental ignore list by the way, this kind of making up facts is irritating and only serves to make Ripple users look bad (or heavily invested in XRP...).

OK, then I will never make another post about Ripple

If you are _that_ dependent on my approval... ::)

I can understand a certain excitement, once you start claiming that Satoshi is also developing Ripple though you might actually need to take a deep breath, step back from the keyboard and just be happy that XRP gained so much recently, just because Patrick said something on a Bitcoin meetup in NYC that was recorded.

Ah yes...Tradefortress rhetoric with my morning coffee.  The sweet sounds of defeat.   ;D  I can't believe you have the cojones to even post, as your long term campaign against Ripple gets exposed as the only real scam.  A scam you invented to protect your own closed source, IOU issuing business.  You certainly tried, I'll give you that little guy.  But true innovation can't be stopped by some random haters with mouths full of ignorance and lies.  Have you learned nothing from Bitcoin?

For all of you that listened to this Tradefortress fraud...maybe next time you'll trying researching and thinking for yourselves.  Because to not do so, is exactly how and why the current banking industry keeps a strangle hold on everything and everyone.  Stop being part of the problem...stop being lazy and go read the wiki.  Or...get ready to do what Tradefortress is currently doing, when you miss the bus:

http://1000awesomethings.files.wordpress.com/2009/01/crying_baby.jpg

BTW-Where's NWO???  You didn't think I forgot did you.  Still waiting on the Ripple addy, son.   I'd still love to eat some humble pie.  It too goes good with coffee.  ::)

If you say that I harm Ripple, I believe you, I really respect you and yes, that is my definitive decision. Only thing I want to add it that I did a lot of research (two years) about Satoshi and that I mostly wrote about things that already happened in the Ripple World. I thought that it would be good for Bitcoin community to know the truth about Ripple because I was sick of Ripple false accusations: https://ripple.com/forum/viewtopic.php?f=1&t=3614#p17272 that was my motivation.

Follow this guy's advice! Do some research on coinseeker :)

I take acquiring ripplepay, slapping on a 100% premined XRP is innovation?

It's quite interesting how the only people defending Ripple so far are blatant shills that makes a laughstock of themselves (with the exception of Sukrim).

I suppose you are more genius than Google who invested 200K.  ::)

And Sukrim, also a proof that I don't lie about respecting you, you can see your name on the list :D ----> https://ripple.com/forum/viewtopic.php?f=1&t=3654&start=30#p17636

Ripple may even have more success than Google Buzz or Google Wave, which they invested tens of millions in minimum each.

Google, much like Zynga, acquired aardvark for $50 million. It was discontinued shortly after. They also acquired Jaiku, which failed and was discontinued shortly after. They also acquired Dodgeball, whose founders left to make Foursqaure, and Dodgeball was discontinued shortly after.

If Google thinks Ripple is great, why did they also fund Buttercoin? Perhaps it's about the evaluation that something may be a profitable investment depending on the conditions that OpenCoin Inc offered.

Start thinking for yourself and evaluating systems yourself instead of blindly following? Too difficult for those who can only reproduce the same point again and again, but that's OK - all they care about is the short term value of XRP, despite what they claim otherwise.

That's it...cry it out son.  Everything will be ok.  ;D ;D

I know all these you say, in fact it is the same I am suggesting to him : ANYTHING can become huge and profit you tons of money!

So what is the problem people (including you of course) to SPECULATE some funds in this too? I mean come on, I am willing to bet in any shitcoin if I have enough funds to do so. Not extraordinary amounts but you know, something that will make a difference if this goes x1000.

This is what Google do, this is what VC do and this is what I do. You decided yourself not to do so - I judged differently.
Better to follow Google than you sorry.

Mind I am talking only for speculation here and not if Ripple is 'good or bad'.

Ethics, emotions, technical analysis don't have much to do with speculative trading and LUCK..

Thanks, I commend you for being honest about it :)

;)

wow. all this negative talk about ripple and passionate people defending it is intriguing. to hate a project intensely, then opencoin must doing something to disrupt the disruptors.

http://www.thebitcointrader.com/2013/09/xrp-surges-nearly-300-in-just-over.html

Or maybe there are many people that are frustrated by OpenCoin's opaque front about the underlying failure of the Ripple concept and further irritated that they have claimed to be open source from day one; QED this announcement.

This is the underlying concept and "genius" of the ripple system; Obligations to redeem a token for a currency are functionally equivalent to holding the currency itself, or the equivalent exchange rate of any other currency IOU or asset IOU.
Since all debt is equivalent, debt can be generated through trust relationships (Friends of friends) and then be traded in the system. All intermediaries between the debtor and the lender are called "Liquidity Providers".

There are two UNSOLVABLE problems with this.

What has been quickly found out and even demonstrated by TradeFortress, is that debt through liquidity providers is open to immediate abuse. After all, even if there is a trust relationship between A and B, and between B and C, that doesn't mean there is any trust between A and C.

That is one unsolvable problem. It is unsolvable because there is no algorithm known to man that can predict any trust relationship between two strangers based on the relationship between a common person or string of people. (There is also the problem of deciding what the contractual relationship is between all three+ parties, but that's not unsolvable, persay. Daunting, for sure.)

The second unsolvable problem is predicting the value of debt versus assets immediately at hand. It is clear that IOU's traded should trade at a value above the principal, but what no algorithm can ever do is predict what that value is. It's subjective. Interest rates (which is essentially the same thing.) can only emerge from the calculation of independent actors in a free market.
(This problem is further complicated by the fact that it is dependent on the terms of the IOU. Length held, and risk of irredeemability are factors.)

If I had to sum up the killer of Ripple in one word it would be; Heuristics. The Ripple system demands that an algorithm be created to predict heuristics in a market given only trusted value between proximate individuals.

Has OpenCoin even tried to attack this daunting impossible task? No. What have they done instead? They ask that NO ONE trust ANYONE except gateways. Which INVALIDATES the entire Ripple concept.

After all, what are we left with when there is no web of trust in Ripple? An open platform for the exchange of resource obligations tied to the necessary XRP of which the majority is owned by handful of individuals.

We already have that, without the private company or the limitations of Ripple. It's called a "Free Market".

The only thing that Ripple would add is the ability to exchange arbitrary IOU's among gateways, but why would you want to do that?

Consider that Bed Bath and Beyond might put Mattresses out on the Ripple system, and they would be a mattress gateway. If a user in Ripple purchases a mattress IOU with USD they could swap out the mattress IOU for an equivalent amount of Rubles.

Now we have a bizarre setup where one gateway holds a Mattress IOU -Likely in Russia- they most assuredly don't want.

Even if you limit Ripple to only currencies, you have the same problem. Gateways do not necessarily want to hold IOU's from other Gateways. Other gateways may (and will) default, leaving other Gateways holding a bag of worthless currency IOU's.
But even if they don't default, Gateways have an incentive to dump as much IOU's in Ripple as they possible can and make redemption as hard they can get away with, because they directly benefit from IOU's that are never redeemed.

It directly perverts competition among business from being fast and efficient, to being as slow and inefficient as they can get away with.

Ripple fails through and through, and cannot be fixed.

TLDR
Most people that use Bitcoin hate Ripple because of the dishonesty of labelling themselves "open source" when they clearly aren't, as well as the centralized nature of the XRP currency.

I "hate" Ripple because it doesn't work and can't work, it's a waste of time and resources, and despite many people pointing out the basic economics that destroy Ripple, people are still buying into it and the only response we get from OpenCoin is handwaving.

Edit: Grammar/Wording

You are a Ripple Zombie...
Who's desperate to get back even 50% of the money you invested at 6000 XRP/BTC back in the spring.

Even the Ripple Client... the very face of Ripple... has 234 outstanding Bug Reports on Github...
Could you imagine Steve Jobs releasing something like this?

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

Does anyone think the server is in better shape? Or the API?
No one even knows if the core Ripple algorithms work or not.

OpenCoin is Hippie Central...
These guys got the best hydroponic weed on the fucking planet, baby...
And talk about "saving" migrant workers and subsistence level African farmers from their cubicles.

And where the fuck is Jed?

No serious company would ever run their business over the Ripple network...
At least not for a loooong time... we are talking a year or more.

What upsets you more...the fact that you continued to claim Ripple would never go Open Source and you're about to be proven wrong or the fact that ZipZap may be integrating with Ripple?  I can't really tell because you quoted the ZipZap piece but then went on one of your Tradefortress-esque style rants.  The only thing you left out, was how many "big time pro trades" you did today.   ::)  I gotta say, I usually don't relish in others suffering but this is one of those times where I take exception.  It's been a beautiful morning and you Quant just provided the icing on the cake.  Please, continue to cry it out.   ;D

Edit:  You know, you'd think people would be happy with the news of open source.  But just as I've always said, there will always be a group of zealots that will never be satisfied.  It won't matter if you open source, if wouldn't matter if you added some POW concept to it, there is nothing that can be done to appease these people.  In a world as small as crypto...it's really sad.  Although, totally predictable.  Fortunately, it doesn't matter...technology just keeps on rolling, with or without you.

While you guys debate the merits of the Ripple protocol, XRP is now up 83% from when I started this thread less than four days ago.

So is it time for everyone who already owned some XRP to dump them?

-MarkM-

Well you were probably saying that two days ago when it was up 60%.  It is up 83% now and climbing.  I would say take some profits when it gets back up to .02 which is still double where we are now.

Most importantly, it is through the .01 barrier where it paused for awhile yesterday.  So now clear sailing up to .015 or so.

I guess on a normal trend reversal here or even .02 would be a decent place to take some profit but then I think...how many times will Ripple open source?  What if the ZipZap integration rumor is true?  What other news is waiting to be unveiled at the Money2020 event?  Google wallet integration?  Who knows what's to come.  All I do know is that profits at .02 are good...but profits at .1 or .2+ are even better.   ;D  Hate to sell early only to miss XRP's "260/Cyprus" moment.

I'd be more concerned about its "Pompeii" moment.

Yes good point, and I often sell too early.

As they say in the stock market, "cut your losers quick and let your winners run".

So no reason to sell XRP until it has signs of pulling back, which sure isn't yet.  It's up .0114 now and still going...Just bought more.

Now up almost 100% from when the thread was started less than 4 days ago. Congrats to those who jumped in early but XRP went up 2000% in April/May so it could still have much farther to run. 

It can still double from here and be below it's high in June.

You are not able to force IOUs upon anyone that they don't want - if you manage to trade a mattress IOU for RUB directly, this person has to have trusted the mattress IOU issuer explicitly.

What is more likely is that you trade mattress --> USD.Bitstamp --> RUB.RussianGateway which involves two atomic trades, where someone gets the mattress IOU they are willing to accept for USD.Bitstamp via an open market order and someone else gets these USD.Bitstamp and give you RUB.RussianGateway, as well through an explicit market order. There is no way the second person will end up with a mattress unless he/she explicitly want them.

Ripple works similar to your bank account: Whoever sends you money (e.g. I send you 10 EUR from Deutsche Bank) - it will be converted in the end via one or more intermediates to a balance of USD IOUs of your own bank. Yes, there might be special cases, I know, but the basic principle is that if someone sends you money from a different bank, you don't receive something that can be only redeemed at that other bank - you receive a balance with your own bank (gateway). Ripple just makes these conversions explicit and public, instead of implicit and hidden away (you cannot choose on a free market who exchanges my EUR.DeutscheBank to your USD.BankOfAmerika for example).

As there will be, as you correctly said, always be uncertainty on how much you can trust a gateway, there will also be always fees in between from people who are willing to take that risk. Take BTC.TradeFortress for example - if you believe there is a 1% chance that TF would actually send you the amount of BTC on the block chain that he received on Ripple when redeeming the IOUs, as soon as you buy more than 100 BTC.TradeFortress with a quite surely redeemable BTC.Bitstamp, you might actually have made a profit. There might be other people with different valuations etc. but the basic principle is still that of an open and free market for price (and through price: risk) discovery. Just like what's currently happening still with USD.MtGox vs. USD.Bitstamp.
You are just criticising that prices and conversion rates between IOUs can and will never be 100% certain - this however is in my opinion a basic premise of any IOU and to some extend even something that applies to real goods and assets. It is like saying stock markets are bound to fail as there is no way to determine the real value of shares.

Indeed, but looking at depth, we may see a bit of a correction first.

Yes that's what I thought when it hit .01..did pull back a little, but now up 15% from there.  I don't totally disagree with you though and I'm buying on dips for at least the next week.

All you're saying is that the Gateways do not accept anything but currencies from trusted Gateways. Fine, but you have the same problem, just less obvious.

You have an intrinsic inescapable Moral Hazard built into the system whereby Gateways are incentivized to over-borrow (issue IOU's), and then make it difficult to redeem.

And I hope you noticed that you have to keep restricting the trust in the system and remove the concept of liquidity provider entirely in order to get it to work. What you described above is a far cry from the original vision of Ripple.

And the idea of liquidity provider returns with a vengeance...
Yes you do receive something that can be only redeemed at the other bank.

Somewhere along the line the USD.A needs to end up at BANK.A in order to be redeemed. Otherwise; Open palm, insert face.

Say there's Bank A, B, and C and they issue the IOU's USD.A, USD.B, USD.C respectively. They are all liquidity providers for the others.

If USD.B or USD.C ends up at Bank A, then Bank A might redeem the dollars, but the bank has to turn around with those IOU's and redeem them at the other banks. There's no way around this. You can't just convert USD.B or USD.C to USD.A because that would reduce debt of the other banks and decrease the reserves of Bank A, exposing it to the risk of insolvency for no gain. (Ignoring that each unit of USD.A, USD.B, and USD.C has a different value in the market.)

That holds true for XBT, EUR, RUB, or any other currency.

You're correct in saying that markets calculate the value of IOU's among banks already. It works beautifully, so what's the point of ripple again?


In summary; If you get rid of the liquidity provider and allow IOU's of the same principal to have different values, then yes you can have a working trust-based media of exchange. What's the big deal?

We already have ways of managing trust among businesses. We can already exchange currencies with trusted businesses. Why should we be so enthusiastic about this?

You may want to start another thread to talk about the long-term value of the ripple protocol.

But if you are asking why should you be enthusiastic about 90% return in 4 days, then I really can't answer that if you don't already get it.

Wow this one got by me. I think I'm buying more now and holding through next month, most likely.

Gateways generally don't accept anything but currencies from that very gateway. The point of a gateway is to issue an asset on the Ripple network. They give this asset value by redeeming it on demand. They don't have to do anything with any assets issued by anyone else.

If a gateway makes it difficult to redeem, then that gateway's IOUs will be valued at less than face value. Nobody going to give a gateway $5 in cold, hard cash to get back an IOU worth less than $5. So a gateway that makes redemption difficult will be slitting its own throat.

Correct, and that's essentially always where it is. A gateway issues an asset for $5. That asset bounces around between those who wish to hold it. Eventually, it's redeemed with the gateway, and the redeemer gets back cash. That's all the gateway does. Any inter-gateway or cross-currency transactions are done by the gateway's customers, not the gateway. (Unless, for some independent reason, the gateway opts to also operate an exchange, market-making, or similar service.)

Gateways, generally speaking, don't provide each other liquidity. Market makers do that. A gateway that needed to might provide some "backstop liquidity" to ensure the assets it issues are liquid, but it's not likely to handle assets issued by other gateways as part of its ordinary course of business, unless it had some specific reason to. Why add unnecessary risk?

If I hold one Bitcoin issued by Foo and want to buy something for USD issued by Bar, I essentially trade by Bitcoin/Foo for USD/Bar to make the payment atomically. Other people (traders, market-makers) wind up holding my Bitcoin/Foo. I can use multiple paths to make this payment. Perhaps some of the USD/Bar will be traded directly on the Bitcoin/Foo-USD/Bar exchange. Perhaps some of the Bitcoin/Foo will be sold for XRP and the XRP used to buy USD/Bar on the XRP-USD/Bar exchange. Ripple contains a pathfinding/matchmaking system to generate these atomic payments.

From the standpoint of the gateway, they just see redeem and issue transactions for their own assets. Their "redeem on demand" agreements give the assets they issue value. They need play no direct role in cross-currency or cross-issuer transactions.

Thanks for taking the time for the detailed explanation.  I have been into XRP for a few months and still don't totally understand the inner workings of the IOU system but that makes it a little clearer.

I just know that I use Bitstamp and Snapswap as my gateways and both work fine most of the time.  I wish there were more gateways though and hoping at October Money2020 conference that some more are announced.  It sounds like there's a good chance they will be.

By that, you mean regular ripple users become liquidity providers and will end up holding worthless IOUs. You'd have to run rippled if you don't want to be a liquidity provider. Liquidity providers takes on a significant risk of losing money without any reward.

Speculating on the prices of XRP is much more important than not making your users carry on significant risks. There's real world examples of people that have lost money. But if ripple users were not liquidity providers by default (charging 0% fee while taking on non-zero risk), Ripple's payment system won't be functional.

This is just one of the many flaws of ripple, and if you do your own research you'll get the real picture of what Ripple and OpenCoin Inc is. I'll elaborate upon these points in a rewrite of RippleScam.org soon.

What license will the Ripple server be licensed in?

Ripplescam.org shoudl be called Idontparticularlycareforripple.org but I guess that wouldn't be as sensational and attention getting.  It is not a "scam" by any means, even if it doesn't work for you.

Anyway XRP is staying strong...not pulling back much at all from highs of the day.  It is still at about .0110. Volume isn't that high but still a lot of buys at the bid.  

This should really run up into early October.  Now that I know about the ZipZap official announcement on Oct 6, I'm holding and adding on the way back up to .02 and possibly beyond...

ACH and wire transfers do not work "beautifully", they work like a system designed in the 1900s to function over a telegraph during business hours. With ripple, exchanging IOUs becomes as seamless as sending bitcoins.

ACH and SWIFT are bureaucracies, Ripple is a protocol. Its like comparing snail-mail to e-mail.

http://ripplefederation.org/news/looks-like-we-might-be-getting-some-big-news-from-zipzap?xg_source=twitter

ACH sucks....takes 2 or 3 days for your money to move and usually a fee for it (either you pay it or the bank/service does and passes it along to you somehow).

And wire transfer costs what?  $30?   Sending bitcoin costs about 5 cents with the miner feel and sending with ripple costs even less.

And I have been using BTC with XRP for months and never really pondered which is "better".  They are both very good at what they do and I will continue to use both for quite some time, I'm sure.

I'm sure i'm not the only one with this thought, because it seems obvious that ButterCoin exchanges will, sooner or later, also become ripple gateways. It will be very difficult to compete as an exchange, if the sole method of USD transfer is ACH/SWIFT.

Ripple exchanges have a lot to gain from increased traffic. I was new to bitcoin and used Bitstamp so much with Ripple that now it is my favorite exchange and I kind of do everything around it.  And I've got 3303 BTC 30 day volume on there which is not huge by any standards but that is a lot of commissions for them.

I also use Snapswap and didn't like them that much (1% fee and some ACH problems) but now that they've added Dwolla I will happily pay the 1% when necessary.

By their (dumb) fruits shall ye know them indeed...

Brace yourself lads, check out the spread for the USD/XRP charts we are about to get a major correction. If you think this is big, wait until the failed promise of open sourcing doesn't arrive on the 26th.

I feel for those who bought in at these prices. Follow twitter.com/RipplePump for the latest dump plan in the coming week. Sell now, buy back at half the price - doubling your XRP holdings. It was only 45,000 xrp/ 1 btc a month ago, what fools are buying at these prices? HA!

Can we please add this into the title or is this just a bias hype thread? Oh well, you can't help morons who want to lose money. Read the signs people! Know what you're actually investing in. I'm out, sick of bumping this pathetic hype thread.  

https://i.imgur.com/VpjAnAe.png

Gamble any way or the other - up or down up or down? No one knows for sure.
Maybe you wanna buy cheap? ;)

NWO, didn't you get laughed off the Ripple forums with your silly twitter pump/dump?  It's obvious you didn't buy in at 45k and now are mad....trying to get people to dump to you.  We're headed to all time highs on this one.  Likely you'll never see these prices again.  Might want to just accept it or miss the boat for good.  

No? I received nearly 30 members signing up from a wasteland forum that usually harbours 0-2 people online at a time. Maybe I should make it public on these forums and see what the response is. If you are on the Ripple forums, you would see my activity on the boards when Ripple was rising so stop lying (to be fair I bought at 41,000 xrp/ 1 btc). I love how defensive you get with assumptions against a balanced argument which doesn't align with your bias rhetoric. Maybe I should make assumptions about you? You bad bro? Got teased at school? Or touched when you were small? The internet is great isn't it.

Keep lying to the forum, but the evidence is there for people who want to make an informed decision on when to buy/ sell. Lucky I talk from facts, not assumptions. I recently just created a new Ripple account with a insane password because of the amount I hold. It will become my offline cold wallet. Like I said, you and your puppet accounts are just making me rich.  

People only need to look into your history to see how much of a fool you are, your persistent waffle makes no sense and you constantly troll/ lie. No wonder your ignore button is glowing, you are a waste of my time.

Consider yourself blocked, like what everyone else is doing on the forum. Blocking your low intelligence and troll/ hype posts.

Touched a nerve huh?   ;D. Just post the Ripple addy as you continue to avoid doing.  I'd love to be wrong.   ;).  All can be settled without paragraphs of rant.  I'll wait...

I did a UK bank-to-bank transfer to a solicitor recently, and while I don't know exactly how long it took, I know that two hours later they confirmed that the funds had arrived, so certainly less than that, and I wasn't charged any fee.

I hope there is a correction in the next couple of days to add some more even cheaper.  The ZipZap news is huge, on top of the open source news, which a lot of people aren't even aware of yet. 

And the Money2020 conference on Oct 6 will get Ripple a lot of media coverage and headlines, which will lead to more buying interest.

Rippled is only needed to take part in the transaction ordering process, maybe a bit similar to bitcoin in the sense that you don't need to mine to use them (though mining also gives a reward besides purely confirming transactions).

Everything that happens on the network itself can already be done using open source software. This includes running a gateway of course and issuing/redeeming IOUs.

You can only end up with worthless IOUs in the case of trusting a fraudulent gateway, like the stunt tradefortress pulled off. Even this could be prevented, though i doubt that the settings for that would be in the official client by default. They could be patched into a "paranoid" fork though.

Yes price is holding pretty firm at around .01.  I don't see it pulling back beyond .008 at the most and probably not even near that.  I would load up at that price and I'm sure others would too.  But anything around .009 is a bargain at this point.

But I hope others do sell and take some profits...just some less expensive XRP for me to scoop up.

Ok!
https://bitcointalk.org/index.php?topic=297287.msg3189862#msg3189862

Ultimately you have to ask yourself... Why is the OP sharing this information with you, if not to his/her advantage?

Yeah, there's just too much upside here to not be buying and holding.  This potentially "perfect storm" of events, just doesn't come around that often. Open source, ZipZap, Money2020 and who knows what other surprises are waiting.  Of course, if there is a correction, I too will be taking full advantage as we move into the Money2020 conference.  I'm keeping a watchful eye on the markets to catch weak hands dumping and I'll be there to snatch up the goodies.   ;D  With just a ZipZap integration confirmation, I truly don't see how we'll see XRP prices anywhere near these levels again.  We held steady at around .02 for the longest with no real updates.  With the right combination of events, my gut says we'll blow way past that.  .1+ is so easily obtainable, to me its just not worth the risk of being caught without XRP. At least for the next couple/three weeks.  

If you're planning to buy ripple, don't buy in bulk from bitstamp, they will rip you off big time. Just buy enough to activate trading on your ripple account. Do your research before touching ripple or you will regret big time.

+1  That's very good advice.  Buy off the built-in exchange within the Ripple client.  I tend to forget those new to Ripple may make this mistake.

Yes Bitstamp jacked up their price about 30% in the last few hours.  It is about .015 when you can get XRP for about .01 right now.  So just buy maybe 200 XRP through Bitstamp if you have to and then buy in the Ripple client...will get a much better deal.

Well said, there is more risk in terms of opportunity cost right now with not holding XRP than the risk of it dropping on you.  I'll gladly risk 10-15% for a very high probability of making another 100% or more from here.

And it's not like XRP hasn't been at .02 before...was just there a few months ago and news wasn't nearly as positive back then.  The ZipZap integration and support will be huge and LOTS of press and media attention coming from Money 2020 conference.

It was to my advantage.. and was also to everyone's advantage who read the thread and bought some XRP.  They are up about 75% right now too.

So just judge the information on its own merits, and make your own decision.  I put my money where my mouth is on this one and actions speak louder than words.

Hey guys, I think it was this thread that led me to discover you could do this, so thanks for that...but it still seemed a bit tricky, so here's a breakdown for noobs like me that want to buy from an advanced orderbook using the ripple client, rather than market price on bitstamp:

https://bitcointalk.org/index.php?topic=297326.0

Nice...thanks for the link.  It was tricky for me to figure out how to use Ripple client at first, so this is good to help people get started.

The bids/asks just seemed backwards and can just be confusing and took me awhile to get comfortable with it. So just start out with small trade first and go from there.

Please note, I did not use the word "Advanced" lightly.

You need to be familiar with BTC-e style order books to use this properly...but you almost always get more by buying at the price you name, than the price they set.


Please see this post...Bitstamp is still quite useful as the Gateway, and so far they don't appear to have really taken fees when I did it this way, if they did, it was practically imperceptible, and imho the negligible cost of doing business as the price keeps climbing.  Grin

https://bitcointalk.org/index.php?topic=297326.0

Looks like a little "pause for the cause" today.  XRP pulling back about 10% but not after running up 90%.  It seems like few are selling and there plenty of buyers scooping up any XRP sold at a discunt  I would be a huge buyer at around .0085 and would pick up few around .009 but tough to get them for that price.

But this is probaly last stop before we move up to .012 and then .015 and .02 by mid October.

Glad I figured out the buy orders option, I love it when sell-offs result in better prices for things I was planning to buy!

https://bitcointalk.org/index.php?topic=297326.0

this seems to be classic case of "buy the rumor, sell the news".

it's too late now, though, I guess.

_{disclosure: I bought 137 XRP 2 days or so ago.}

No because the "news" is not until Sept 26 at the earliest, and more like Oct 6.  And yes it is up 80% but it went up 2000% in May and June so could easily double from here.  Of course no guarantees and it's a calculated risk.

Bingo. You're increasing the hype and trying to get people to buy into your little pet coin. In all probability you're driving up the price as much as possible before you cash out (Right before everyone finds out that the reality was less than ideal) or you've been paid off by Opencoin Inc. to give glowing and encouraging praise and bring new lambs to the slaughter. Either way, you Judas goats foam at the mouth a bit too much when speaking of your holy pyrite.

I didn't start this thread but where is the "glowing and encouraging praise" in the original post or in others by OP?   You are simply making things up.

It seems like he posted some news and let people make up their own minds and the price is up 80%. 

Well enjoy living in your fantasy world but I will stick to the real world myself.

Lol...yes...I was paid by OpenCoin, when they said, give us your ripple address and we'll send you some free.  Since then, I've liked the project...then I actually used it, and I liked it more...and in the past few days I've picked up a bit more...first time I've actually put anything in other than a forum post.  Guess what...the price is doing great and continues to rise...and guess what, I'm very pleased about it.

In fact I wrote this tutorial on how to buy with an order book so you can set your own price and hopefully pay less than bitstamp pricing:
https://bitcointalk.org/index.php?topic=297326.0

do you use the $125 bitcoin value from bitstamp for this? I don't see the trades dropping below 12000 XRP/1 BTC inside the ripple client, ever, which at $139 gox weighted average would be 0,0115 USD per Ripple. :( Also far more than this site reports: http://www.rippleprice.com/

11,501 is what RippleCharts is currently tracking...and that seems to be straight from the Ripple orderbook I've been posting about...I watched as one of my orders instantly changed the price on the chart from within the ripple client.

Don't use market price buys with built in exchange fees...use the order book and name your price:

https://bitcointalk.org/index.php?topic=297326.0

http://www.Ripplecharts.com

Well right now XRP is trading for about .0103 in the ripple client. Yesterday I think Bitstamp was asking 1/89 or .01224.  now they are asking 1/59 or .0165.  So that is an increase of 35%.

But it's good that Bitstamp raised their price...if they didn't, it would keep a lid on XRP's market price.  But now there is nothing keep it down for another 40% up from here.

Can you even read the markets or do you just dripple crap constantly? You are just starting to piss people off as they realise they have been duped into buying expensive XRP at the expense of those who are dumping because it isn't going higher. Do the maths, people are getting ripped off.  Here is the latest spread since no one updates the other side of the story in this bias rhetoric.

https://i.imgur.com/Hmqpd6y.png

"it isn't going higher".  So you know somehow?  Can I borrow your crystal ball.

XRP went up 20x in May and June and the whole time you were bashing it saying "it isn't going higher".   People can decide for themselves and those, like me, who read this thread a few hours after it was posted are up 80%.

Please go cry somewhere else...you missed this one so far and you are scared to jump on now.  It's ok, not everyone can be a winner.

There are two ways to get XRP through bitstamp. One is on https://www.bitstamp.net/market/xrp/, where you buy direct from bitstamp at whatever price they have set. The second way is withdraw BTC or USD IOUs at https://www.bitstamp.net/account/withdraw/ripple/, and then trade them for XRP yourself on the ripple market.



Since you claim to be smarter than the market and know what is over-priced and what isn't, will you tell us what the fair price is for XRP?

People were dumping at 100, 200, then 300 thinking that it wasn't going higher. But it bounced back. It is true that the spreads are big and liquidity is low. It reminds me of the earlier days on mtgox. Hell, even in the later days, spreads are big on mtgox during volatile times.

What are you even talking about? Basing your rant from assumptions when I post a factual response. I hope you know since then that a mysterious account with 200 million XRP took a dump making the price blow out to 45,000/ BTC. With even more high profile staff recruited recently, how likely is this to happen again? VERY LIKELY.

Disclaimer: I am 87% sure that I have more Ripple than you. Just because the truth hurts, it doesn't mean you need to lie. Like you are doing throughout this thread.

on the move up again...

Expect a correction around the 14,000/ BTC mark. IF the open source does indeed end up being fake (which is likely due to the deafening silence from OC on the subject) expect a LTC style backlash similar to when Mt Gox failed to list it.

I'm placing an order in the 11,000's because this is a great price to sell.

Retard confirmed.

It is actually dropping... From 11,000 to 13,000. Morons like you get blocked, sorry but the troll is obvious.

NWO's butthurt is epic.   ;D  Back in the land of reality:

http://www.coindesk.com/ripple-plan-make-software-open-source-september-26/

A few trades at 11,000 and then a few at 13,000 do not a trend make.  This thing is all over the place because of low volume but anyone can see the general trend for the last few days.

But sure I could see it pulling back to 14,000 before heading higher...good time to buy more.

Very nice!

More headlines = more buying pressure.

But if you were not bias, you would see that they linked a fan made Ripple page owned by Sal who is NOT associated with OC. He just regurgitates the news in the forums. There is still NO CONFIRMATION from OC.

The silence from OC employees is deafening and it looks like the backlash has begun. I shouldn't have told the noobs that 11,000 was a good selling point because my sell orders are not going to get fulfilled at this rate! Argh the butthurt, please buy my expensive XRP so I can buy back when it corrects itself :(

Ripple XRP freefalling :)

People should have listened instead of listening to the few morons who ran this thread. A lot of people are about to get burned, keep buying if you think this is cheap but you will just be losing money.

I should accept payments for this free advice.

Don't waste your breath.  FUD has a specific purpose, to make weak hands sell.  If you've got weak hands, you're over invested.  Watch prices pull back as the weak hands get bought back up.   ;D

Ripple will succeed or fail on its own merits and with it, likely the value of XRP.  As with any currency, adoption will drive value.  The best is yet to come.   Hourly fluctuations mean nothing.  Ripple is here to stay.  Open source news is just the appetizer.  ;)

FTFY

How much did you lose on your anti-Ripple campaign?  How's that working out for ya?

Lose? :)

LOL! Don't you mean gain? Your hype thread allowed me to lighten my load all over these noobs and make a tidy profit, now I am just riding the drop to do it all over again.

10% "freefall"...lol

volume is fading. so no real interest as of now.  i hope that changes soon.

for you ripple "supporters" why don't you just buy and stop pretending you're holding xrp.  to the naysayers just dump it and leave.  unless you're trading for a profit.  there's nothing wrong with that.  there's money to be made.  but not much, looking at that volume.  maybe a few hundred usd, or a couple of k profit.  i doubt you get tens of thousands of profit trading this at the moment.  maybe 10k usd.  but that's almost to the top of it.

and i doubt any serious money is in ripple trading xrp right now.  value traded/24h in usd is like what?  30k - 40k usd since sept.16?  even less today.  big money from one person would move the market like nothing.  and that would be a risky proposition.  so i guess it's all talk in this thread either way.

Wow I'm away from here for awhile and the trolls really go nuts.  I should have known this would happen with all the butthurt bitcoin evangelicals around here.  They are the same people who stand outside of churches with the "God Hates Fags" signs.

Instead of saying that XRP is "overvalued" or "undervalued" or a "poor investment", I'm just going to continue to report the news and the numbers.  

I don't have a crystal ball like the trolls who will tell you that XRP will go down. I personally think it will go up from here, but haven't said what it definitely will do.   And of course when it doubles from here, they'll be complaining about all the "noobs" who were taken advantage of by buying it (and doubling their money I guess).

They were here in the first few posts of this thread when XRP was at .006.  It's at .0103 now according to http://www.rippleprice.com/.

And the high yesterday was .0113, so it is down 8% from the highs.

8%.

That is the "freefall" that the trolls are raving about above like the lunatics that they are.

Down 8%.

And the Coindesk news just hit on Sept 19...and it's front page news on their site.

And then the Money2020 conference with ZipZap announcement and doesn't take a genius to figure out where XRP will go from here.

Or listen to the trolls who call 8% a "freefall".

It's up to you and just consider all the facts and make your own decisions and reap the rewards when they most likely come.

Nice sermon.  ::)

I haven't said once I was holding XRP for the long-term.  

And you are funny with "i doubt you get tens of thousands of profit trading this at the moment.  maybe 10k usd."   You don't undestand percentages but that's ok...not everyone is good at basic math.

And yes "it's all talk" in this thread...except the talk that started this thread made a lot of people 80% return in less than 4 days.  Talk is cheap but acting on news is not.

so you earned tens of thousands.  so all that volume in ripple lately is all you?  what happens when you decide to sell and no one's buying?

and you're a real nerd clipcoin. i doubt you even have real money considering you are in your mom's basement right now.  did you use her credit card to buy stuff online too?  yeah.

cant wait for NWO to get back.

Way to follow along...reading comprehension is not your strong suit, and neither is math, but again... that's ok.

Troll on, and thanks for bumping the thread once again.

see?  you can't even answer a straight question.  i seriously doubt you can make serious money trading xrp right now.  the volume just isn't there.  and if only a few people got in from the 40k low, then this is a classic case of a pump and dump.  so don't talk as if xrp has some real value at all.  it's all up in the air at this point.

and good luck holding your xrp you got from a giveaway you nerd.

honestly i have some xrp. but nothing big.  i like playing with the ripple client.  it's actually fun trading small amounts of btc/xrp in it.

i like the project and i hope it becomes successful.  but talking like an evangelist is just lol.  like how ripple will rule the universe earning xrp holders billions...  get real. take it for what it is today, no more no less.

I think that was the OP intended purpose of this thread, as he stated many times.  It's not about the long term benefits of Ripple.  It's not whether XRP will be worth $100 one day.  It's about the increase in value of XRP today and over the past few days, simply based on the news of open source this month and where it may go over the next few weeks.  This is an XRP speculation thread, nothing more.  There are plenty of other Ripple threads available if you'd like to debate the merits of Ripple.  Speculating on XRP has been and in my mind, will always be a very risky venture.  But then again, what in the world of crypto isn't risky and how does one ever make a profit if they don't take risks?  If you're scared, go to church.   ;D

I continue to think the news in Ripple land is bullish.  Some people may see it and say its bearish.  Two different people can look at the same information, same TA and one will buy and one will sell.  That's what makes markets work.  Embrace it.

not much bullishness from the ripple fprum from what i have seen. and looking at the chart for xrp, at the moment, sure it made xrp rise. but the volume is fading so there isn't much interest at the moment. the price is pulling back a bit, so this could be a correction. as of now there's nothing really.

on september 26 if rippled really becomes open source we shall see what's really in store for xrp's price movement.

and there's little value changing hands usd-wise. 30 - 40k a day i think? that is small. one person can move the market at will if he wanted to.

also, there's no official announcement from opencoin about all this. there's only that video, but no official news from them.  but i don't blame the xrp supporters in this thread, it would be good for supporters and haters if xrp rises.  i the end, everyone can profit from it.

one last thing. this could be a pump and dump for all we know. there is not much volume.

to the pump and dumper:  pump it up more, you didn't put much money into it. you cannot do it right if you do not commit.

Everything will grow in it's natural order.  Cheerleading and FUD may cause a handful of people to act on impulse, but in the long run the markets will decide the true value.  When I speculate, I factor in rumors, news, TA and the sentiment from all that.  We've already seen XRP begin to stretch her legs earlier this year.  Now we're seeing the effects of the OS announcement.  You may not think Patrick stating so on video is enough, but that's how you choose to view the info.  I'm content and I don't see anyone from OC here, trying to walk back those statements.  

On a side note, Ripple is already open source.  More that 100 people have access, most of which are not OC staff.  Because of that, statements that Ripple will never be OS are ridiculous because even if OC stated, "We're never releasing the code", one of those 100 people absolutely would...so, it's a non-issue.

Market depth is certainly an issue in both directions and that's why we just have to see how things develop.  I stand by my statements that being able to buy at these prices is nuts and it's my belief this will be the last time you will ever be able to buy XRP at these prices.  Kinda like the chances of ever buying BTC at under $1.  Not a perfect analogy, sure...but hopefully you get my drift.  I'm betting by the end of Money2020, 0.1 will be the new normal.  We'll all know in a few weeks.   ;)

 

i'm all for it either way. i'm just happy using the ripple client. as i said before i wish ripple and opencoin all the success.

For those that don't know, Coinseeker is a Ripple fudster. Nearly every single of his posts is shilling for ripple, right from the day he joined. There's a reason why his ignore rating is the highest it can be.

While claiming to only hold 310 XRPs after half a thousand posts promoting ripple.

Correction, you're the Ripple FUDster...I'm a Ripple supporter.   ;)  And I do love watching you squirm on all the recent events...just that by itself, makes it all worth it.   ;D

You've been FUDing about Bitcoin.

Yes, I have and still do.  I don't believe Bitcoin will survive in the long run on it's own.  That's never been a secret. Too much ideology, ignorance and hatred.  Not to mention is own technical flaws.  Ripple is Bitcoin's best chance for mass adoption.  So people can use it, while others who would never otherwise associate with such knuckledragging nonsense, can still receive payment in the currency of their choice.  Unless of course you want to still be begging Dropbox and others in a forum to accept BTC a year from now.  BTW, how's that working out for you?  I know...I'm such a dick.   8)

Yes volume is not high but XRP is holding up pretty well considering the recent gains.  And news is still being disseminated of course, etc. 

then that's a real concern. anyone with enough money can move the market at will.

Yes I do agree with that.  Any big seller can push the price down and any big buyer can suddenly shoot it up. 

I still think we will be sharply higher in a week, but we'll see.  I'm going to keep trading it and adding to my position on any weakness.

ripple confuses the shit out of me. I opened an account long ago, but it wouldn't let me do much. I had to have someone lend me some ripples, but to do this I had to open a gateway.  In order to open a gateway, I needed to have ripple in my account. Seemed like a never ending loop of unnecessary-ness, so I gave up on it. Is there an easy way to get my hands on some XRP? And can I do this without being in debt?

Thanks.

Here is my address

rG6fnEh2DiK923BAQFgQNQ7eEQiZEJooVZ

Thanks.

I can do that. Send you BTC to your BTC wallet? or some kind of ripple things?

Sent. I also now "trust" you for $10 on ripple. 8)

holding strong today still around .01.  Not that much buyers but no one seems to want to sell either.  A bit of a stalemate but still up about 68% from when I first posted the thread.

This little paradigm is seemingly the same frustration the guy following my guide had issue with...

Can anyone confirm that my workaround via buying XRP with USD in Bitstamp and sending to the ripple wallet will work as the initial funding?

As soon as I have confirmation on how to break this catch22 cycle, it'd help all XRP holders if we can point noobs to a guide like the one I wrote to help them navigate...once in play...it's way easier...but getting there can be tricky.

https://bitcointalk.org/index.php?topic=297326.0

I was tempted to do as Pankkake did and just send some to the guy...but I thought it would be better if we could find a solution that needs no third party.

Yes I've done this a few times when I've opened new ripple accts. You just buy a token amount through Bitstamp (100-300 XRP) and then your ripple client is ready to go and you can assign trusts and do trades, etc.

yeah. good thing no ones selling it down. we need something like a boiler room and cold call this thing up above .01.

lol!

You probably shouldn't do that unless you can reasonably expect him to give you some real $10 "physically" on request.

Only trust gateways you trust to hand over the real thing upon request and that's it. (In that sense ripple works kind-of like LibertyReserve used to work: you can transfer IOUs (or account balances) within the network, but "real life exchangers" are used as gateways to get real stuff in and out)

If we all start trusting random strangers we're setting ourselves up for some bad vibes.

Yeah still seems stalled.  There is a good amount of buying support above .009 on BTC/USD though.  But I really don't know which way this will go in the short term.  I'm adding more when I can at about .009 but few sellers at that price.

Heating up again, although I agree with the low volume, it's tough to draw firm conclusions.  I just added some more myself though at just under .01

With open source in a few days and zipzap on Oct 6, I just don't see it dropping before then and PLENTY of upside.

heating up

don't be left behind

Keep tracking, nice to see the status.

USD/XRP is the interesting order book right now.

There is about $5000 of support between 102.7 and 110.

There is about $5000 of resistance between 90 and 98.

So I obviously don't know which way it will go, but still betting on that resistance to fall, considering the high profile Ripple events that are coming soon and will be covered by various forms of media.

Yes, I pointed this out here: https://bitcointalk.org/index.php?topic=232238.0

dream on, kid.

So I don't know which way it will but you do know?  Again, can I borrow your crystal ball.

And yes people said "dream on" when I posted the thread too..that was about a week ago and about 75% below where we are now.

It wasn't a "dream" , it was a well-reasoned calculated risk like any investment or speculative buy.

Is this countdown to open source "status" ?

I think the conference thing, with the zipzap dude...

Not this nonsense again?  ::) It is a timer to when these morons cement their status as the laughing stock of the whole community. Nothing to see here.

If Ripple is so great, why not stay in your own Ripple community? Oh that's right... it's dead over there. It must be so lonely over there, so the whole 3 of you all decided to come over to the sunny side of crypo to troll and spread lies. For example; the title is a blatant lie. 83% increase, really? Did any of you go to school? It's funny how everything else is kept religiously up to date except the bad stuff.

I now see what you's are doing and I feel sorry for you  :-*

*proceeds to bump the RippleScam.org thread*

You must have skipped math in school.

XRP is still holding up strong.  Trades still going off at .01 and below.  With the conference and ZipZap announcement coming up, it looks poised to go higher.

I would love to see your working to get 83%. Does my previous comment hit home deep? Everyone knows about your pathetic news that you keep rambling on about but it still has not shifted the price. So stop sounding like a broken record.

Not a great way to start a business when you are already lying in a public forum. What does this say about your business practices?

Due diligence should be cautioned using this upcoming 'service'. 

Let me highlight this for you again...until then, you have no credibility and are in no position to call anyone a liar.  What I can't figure out, is if you think its a scam, why do you bother?  To buy cheaper of course... ::)

Very interesting order book right now on USD/XRP.  A lot of big buy orders and large sell ones too.  Someone wants $4000+ at 103.50 so great support there.

They must have pulled it...although there is $1500 in that range.  Did you see the $21,000 wall at 81?  Reminiscent of the $50k wall at 85 so time ago.

holy crap....big buy on USD/XRP Snapswap...took it all the way down to 66.

Any graph/orderbook except the client's?

Sweet, I'll update my thread...seemed like a reasonable way to go about it.  

Anyone else hear the Gorillaz song "The Future is Coming on" in their heads when thinking about Ripple?  Maybe it's just me. 

XRP is useless...but not for long.

I use:

http://xrp.webr3.org/usd-xrp

No

nice post from bibbit at ripple forum.

"Ripple will not grow quickly from the grass roots, it will grow quickly by signing up entities who already have many customers. Gateways without existing customers are OK, but gateways with legions of customers with money already in their accounts are much better.

Many religions gained huge numbers of converts each time they converted a single emperor, king or other ruler. Convert the right person and all those under his sway are automatically converted. OpenCoin should be focusing on conferences, big money people and corporate partners for just this reason.

Can you imagine how adoption would catch fire if just four people bought in, who made integration happen for HSBC (Largest non-Chinese bank. Branches in 85 countries), Google (wallet payments and play store purchases worldwide leverage Android adoption, AdWords, AdSense), Apple and Amazon (World's largest online retailer)?

If those four add Ripple integration, all the other players would be scrambling to jump on board.

OC might not be starting that big, but gateways and merchants are really important. That is the beauty and necessity of OC using the large XRP share to hire the staff, fund the evangelism to the right players/conferences and incentivize the early gateways and merchants.

Any fork of the code will be at a serious disadvantage with respect to gateway and merchant relationships."

-bibbit

let's see if OC can pull it off. this project could be big and it's a different ball game out there. OC is taking math based currencies on a whole new level.

I'm interested to see where it goes. I'm not seriously invested, as I am with bitcoin, but I think there is great potential here. Ripple is very versatile and, as stated, can instantly become far more useful and liquid if a big gateway comes on the scene.

holding well at .01.  I did take some profits but kept enough so I won't be sick if it doubles from here.

As many of the forum users are already aware...Google Ventures investments have a strong possibility of becoming wholly owned subsidiaries.  

Google ventures recent investment in both Ripple and Buttercoin could look to some like competing entities...but to me, and probably the guys issuing the funding...the two will walk hand in hand and strengthen Ripple, XRP, Bitcoin, Buttercoin...and if Buttercoin is successful, probably the New York Stock Exchange and all the other "traditional" financial markets.  We are talking about some of the worlds smartest software engineers, getting together to make a high performance exchange (one that I suspect all gateways in Ripple will eventually run on)...that will spill over into all financial sectors in a manner similar to what Bibbit was talking about here.

Buttercoin is not an altcoin...it is a codename for the beginning of something very big.  Ripple is also the beginning of something very big.  Bitcoin is our Yellow Brick Road/Bricklayer.  That's what I don't get about Ripple haters...if it strengthens the value of Bitcoin...who gives a shit if it's centralized or "premined"?!  In fact, without Bitcoin, Buttercoin would not exist, and Ripple wouldn't stand a chance in hell, but together, they will change the world.

LOL you removed the original comment from your shill account buyxrp.com

Don't worry, I will ensure everyone knows about your shady ways. No one wants to do business with a liar. Kind of sucks doesn't it, all this effort into a business that will get cut down before launch.

Oh trust me...we've got bigger hurdles to clear than random forum avatars.  I WISH online haters were the least of our problems.  Unfortunately, the US regulators have you trumped.  Please continue your futile crusade...free advertising is always nice.   ;D  BTW-you got that address yet?   ::)

What proportion of previous Google Ventures investments have become wholly owned subsidiaies?

Heating up again...try to tell me I'm wrong.

Recently I had to pay for VPN (the one advertised here) and chose Ripple - wow that was fast!

Ripple is ridiculously underpriced, it is way more efficient and effective than any blockchain coin.

I own huge amounts of ANC and decent amounts of BTC (disclaimer).

Alright...fair point...I'm pulling that out of my ass.  Stricken...I feel the rest stands on its own anyway.

I don't think Ripple is the silver bullet for regulators that you've painted it out to be. AML and KYC standards will be there no matter what exchange or gateway we choose. But the idea is that these regulations are a good thing in a civilized society. Anonymity was never a design goal of Ripple or Bitcoin as far as I can tell.

Ripple is a trust-based system, we can't all contribute computing power to it ad hoc, like Bitcoin. Contributors need someone on the network to trust them and add them to their unique node list. But Ripple's performance will be solid no matter how many contributors there are.

I agree that if you like Bitcoin you will probably like Ripple, but I don't like your argument based on the theory that some of Bitcoin devs are the Ripple creators. Are you hinting that Jed Mccaleb is Satoshi? :O haha Even if some devs are inter-operating, this doesn't mean all their tech should be embraced no matter what.

New client update.  Notice the email bridge.  We've only begun to see what Ripple can and will do for crypto.

https://ripple.com/wp-content/uploads/2013/09/Screen-Shot-2013-09-25-at-3.17.48-PM.png

https://ripple.com/forum/viewtopic.php?f=1&t=3717&view=unread#unread

Ok well Open Source was officially announced, and XRP shot up even more...up to around .0114 right now.

They also updated the client software and it is not working right for me...couldn't even login and can't get my money out very easily...Ripple bridge seems to be working but can't send to Bitstamp.

I've just had it so I went ahead and sold...most of mine between 85 and 90 on USD/XRP book.   I think it could go higher from here but I'm out for now. I just can't deal with the ripple client not letting me trade when I need to and locking up my funds with new bugs.

This still may be a good trading vehicle up to the conference on Oct 5.  The Zip Zap news could easily send it higher. I just don't have the patience right now so I took my 90% profits in about 10 days and went home.

Congrats to all those who saw the thread early on and took a smart calculated risk to buy some.

clipcoins is out. Who is next?

Haven't tested the system, are there so big problems as you described?

Huge mistake bro but you gotta do what you gotta do.  Thanks for a good thread.  Best of luck to you my friend.   ;)

Question:

What happens when someone defaults?

So lets say we got this ripple-chain from person A,B,C and D

And through the ripple-effect A is lending basically D 100$. D is burning those 100$ and is default.

Who will have to pay those 100$ then?

are you gonna do the coding for it?

Well, C would be out $100, since she is the one who trusted D. But ripple-chains won't usually work like that. That's something closer to "classic ripple" (https://classic.ripplepay.com/). before the name was given over to ripple the crypto-currency.

For Ripple/XRP the crypto-currency, trust paths are used for converting IOUs. So person A trusts gateway 1, person B trusts gateway 2, person C trusts two gateways, 2 and 3, and person D only trusts gateway 3.

Now A only holds IOUs from gateway 1, but wants to send a payment to D. Then path-finding automatically finds the cheapest path, say gateway 1 IOUs getting sold for XRP, then that XRP is used to buy gateway 2 IOUs, and finally ripples through person C to swap gateway 2 IOUs for gateway 3 IOUs. (person B doesn't trust two gateways so B never gets rippled through). And so D receives her payment in gateway 3 IOUs (she should redeem them right away, unless she really really trusts gateway 3).

If gateway 3 goes bust, then holders of their IOUs will sell them off for far less XRP (bad luck for persons C & D who trusted gateway 3). But if gateway 3 finds an investor to bail them out, then the price of gateway 3 IOUs would bounce back to face value.

Yes it was a mistake...the price action this morning shows it.   But I don't like not being able to even log into the client to buy/sell and not being able to get my money out. 

But I left a lot of money on the table...never fun but at least I walked away with a very healthy profit.

It's all good man.  I haven't had any issues with the client since the new update last night.  I've obviously seen some isolated complaints but mines working fine.  Either case, 90% is still huge in what, a week or less?

Yeah if I can screw up and make $1K profit in a week, then I'm not going to cry too many tears.  It's still bad to leave money on the table but i'll take screwups like that anytime. 90% is huge in a week for sure.

And I still have $2K in there that I can't get out through Bitstamp and I don't really appreciate that.  I've been fighting with the ripple client for months...sure I made a lot of $ with it but it also cost me hundreds of $s or more with all the bugs.

 ;D

Happy happy joy joy!

This is it folks, the simplification of Ripple will bring it right to the forefront in no time.

Funny how with all it's criticism's the system is quite beautifully designed and refined.  It has a mac like
feel to it.  Bitcoin has a very Linux-like feel.  Both have their place...I have an android in my pocket right
now, but there are at least two iphones within 20 feet of me as well.  

Anyone else keep hearing Mathew Lillard in his role in SLC Punk talking about the start of punk?  
It was the Ramones, No, it was the Sex Pistols...(Ripple vs BTC).  Clearly Bitcoin started it, but I see all this
banter back and forth and that's what pops in my head a lot.  Who cares...the result is a dude with a blue
mohawk and spraypaint on his walls, it exists, deal with it.

Hate on ripple all you like, it's not going away any time soon.  I think it's just getting started.

Lots of people hate on Bitcoin to this day...especially upon first encountering it.  Now I'm being reminded of the
Tao of Steve...alright enough movie references for now.

The client is killing me.......  :-\

It's definitely a little buggy still, but it's improved significantly in the last few weeks.

All morning, only been able to see the order book for a few seconds here and there. Constantly offline. Can't move my asks. Has it gotten better? I haven't noticed that. It's always been so buggy.....

 :(

It's actually not loading for me at all ATM.  Strange because it's been running solid for weeks or more now.   ???

Don't worry. I'll buy all the Ripple now at 9000 and dump on you at 5000 when your client is working again.

No need to stress.

Sorry about that. We're having issues today. It seems to be some interaction between the new client and the new server. I'm working on the problem now.

hehe  ;D

are the order books accurate right now? i feel like there are orders missing from the USD/XRP book....

I still think like this, it seems possible. What is the opinion of community? Feel free to share your thoughts...

Someone just flashed a 50k USD wall at 70.... gone now....

Its easy to post fake/unfunded orders (I think it was for $50 million), the client doesn't yet check streamed-in offers. They go away when you refresh the order book.

So I should only "trust" people I expect to give me USD IRL? Then whats the point of this thing? I could "trust" my brother to pay me back $500, or I could just call him and ask him to write me a check, send an ACH transfer, send me bitcoins, or give me $500 when I see him this weekend.

For now, I think so.

It depends what you're trying to do.

If you want to lend him up to $500 and trust him to pay you back, then Ripple is a great fit. He can also extend credit to you if you want to so you can both deal with other people flexibly. He can pay you back inside Ripple (say with balances from a gateway you trust). You always know who owes who how much. And you never need to pressure him to settle since you can spend the money he owes you (this, of course, assumes he holds balances you want or has trust lines that are useful to you). You can, of course, also settle in person for cash and adjust the Ripple accounting to keep it in sync.

If you just want to be able to pay each other money, then Ripple may or may not be useful. If you can easily exchange checks or use ACH transfers or hand cash in person, then Ripple probably doesn't help you very much. But if you each use different currencies or already find a use for holding funds at Ripple gateways, then Ripple makes those payments quick and cheap.

Just tried to login with both Chrome and Firefox and with both of the the "Open Wallet" button wont' even work.  

I sold all my XRP and moved the funds to Bitstamp and then out of there too.   Maybe will come back IF they ever fix it.  

But again, congrats to everyone has made sweet profits on XRP.

I think that this is the problem: https://github.com/ripple/ripple-client/issues/1074

I solve this problem by another technique by clicking on the combo box (Payward, Local Browser; Payward; Local Browser),  I don't change anything, then"OK" and my login button becomes green.

If this is the issue I think it is, just type in the password and the button will work.

http://www.wired.com/wiredenterprise/2013/09/jed_mccaleb/

Actually typing username is easier as it's normally shorter.  ;)

Asks at 119.04 now......  ::)

yep, we're back in the 100s and that surge is....well, it's looking to be over. i wonder if this is just a correction, but looking at depth/walls, XRP has a ways to fall.

I would buy back in right now if the f'ing client would even let me login.  Well I didn't try it today but I think it is a good time to buy.

I just bought some at 16,000 readying for the price spike! Only weak hands are selling now.

Short term a small correction maybe, long term buy, buy, buy to da moon as they say

https://twitter.com/WesternUnion/status/385378101070675968

This is HUGE news. It looks like our short lived petition may have worked ;)

Well, it might be the case that WU sees ripplesync as an employee... I hope he doesn't scare them away/overwhelm them with his enthusiasm and makes clear from the beginning that WU needs to contact Ripple Labs actually.

I'm RippleSync, I will give my Twitter acount login credentials to someone from Ripple Labs. I share your opinion that it might ruin the moment if I tell them that I'm just a simple Ripple user.

You didn't ruin anything. Maybe Ripplelabs wanted to wait before approaching them but whatever WU have smart people I don't think they would care for petty things like this... what matter is ripple network capabilites imo..

I hope you are all buying with the anticipation...

JoelKatz gave me Ripple Labs e-mail address, so I have replied to Western Union:

https://twitter.com/Ripplesync/status/385395253135810560

It would be great if something good comes from this conversation :D

NWO started a petition on Ripple Forum for Western Union to become a Ripple Gateway, I saw that JoelKatz give it a go and I wanted to made my contribution. I have mentioned Western Union CEO in my tweet and was very surprised when I saw that WU responded in a few minutes. It was like they were waiting for that proposal. I think that Western Union is deeply aware of the new crypto-currency trends, so this kind of integration is their question of surviving. It was probably a complicated thing to them to become a part of bitcoin network, because it's not very clear who owns millions of bitcoins, it's a really scary investment in something like bitcoin, at least for big companies, but with Ripple it's more clear, they will have business with a official company Ripple Labs, so for me it's much bigger probability for WU to become a Ripple Gateway then for WU to become a BTC cash-in/cash-out service.

This is another great development to ripple.

F@ck I have to buy again  ;D

I'll try and save you some  ;)

I guess ripple value might increase several times if WU considers becomming a ripple gateway.

Time to buy ripples!

Silk road just crashed. Owner under arrest. Last chance to use less and less valuable bitcoins or litecoin buying more and more valuable XRP.

XRP has always been riding on bitcoin. What makes you think it is a safe hedge?

Agreed.  Anything associated with the blockchain, I would be skeptical of at this point.  Fiat or XRP is the way to go and I obviously choose XRP.  Way too much upside.

Because Ripplelabs will announce zipzapinc partnership/gateway next week and in general great news are coming for ripple. Bitcoin is kinda stuck atm between the end of silkroad and mtgox us bank problems IMO.

yes these are good points to raise. however, price follows price and i think that it's true in my experience -- alt crashes follow bitcoin crashes. xrp at below 75 a couple days ago, and i just saw sells in high 140s or 150. i mean xrp down 33% in less than a day!!!!

so......  ::)

yep but as you said it can reverse very quickly so I wouldn't get out of my xrp position.. too risky ... money2020 in a week ... And it seems that the market finally didn't crash that hard.

so volatile this market

somebody do something already!! such a volatile day and now we just sit with a 24 xrp/usd spread!? pick a direction!!!  :D

The pullback from 75 started before today, it was at 110-120 at least as early as yesterday. I'm guessing that the selling at 140-150 was somebody cashing out to get bitstamp USD to buy BTC at bitstamp prices (it was an anomaly, the market did not follow).

That is a a very good question about XRP being a safe hedge against BTC. LTC clearly is not. LTC/BTC even went down, so LTC price went down even further than BTC price. It seems to be 100% correlated, just more volatile (silver to the gold).

The big question is whether XRP is different enough from BTC that its price can de-correlate. It rose along with XRP in the early days, but it did seem to decorrelate by falling from July-August (while BTC was mostly rising). I'm betting that it will continue to de-correlate (and rise if/when BTC falls), acting as an excellent anti-correlated hedge when the BTC market gets wacky, and vise-versa that BTC ought to be a good hedge when XRP market is volatile (dollar to the gold).

XRP is the stand-out alternative for liquidity looking to move out of BTC but remain exposed for gains in the crypto-currency sector (obviously don't get that holding centralized exchange IOUs).

Why not ? isn't it the same to hold bitstamp IOU on ripple network or ripple IOU on bistamp platform ? the only difference for me is that if you wanna trade on bitstamp you have to withdraw them from ripple, but it takes not even a minute...

What's a "Ripple IOU"?  ???

I think he just means being in XRP, makes more sense than holding IOU's on or from exchanges that are subject to seizure, failure, etc.  While that is true, I could be wrong in what he actually meant.

Yup, that's exactly what I meant. XRP is much much better in a portfolio than exchange IOUs. Exchange IOUs are worth face value in the best-case scenario, so there is no upside risk. But there is much downside in holding IOUs of any particular gateway due to seizure, delays, regulation changes, etc..

quit talking start buying.

face value (market value) =/= best-case scenario..... risks are already priced in. yes, there is upside risk, there. so i dont see the validity of what you are saying. yes, xrp does not have counterparty risk, but it does have speculative risk. similarly, while IOUs have counterparty risk, that is priced into the speculative risk and thus, market price. in this sense, depending on which direction markets go, xrp may be far, far worse in a portfolio than any given IOUs.

Coming: https://twitter.com/WesternUnion/status/385378101070675968

Going: http://www.bloomberg.com/news/2013-10-07/ripple-takes-on-western-union-with-deal-to-grow-payments.html

Right along with everything else google does...get them coming and going...why own one, when you can own them all?

The deal with ZipZap means undercutting WU fees by 90%.  Resistance is futile.

MG is next.
http://btc.host56.com/images/btca.gif

still could be a very long while before we see any of this stuff materialize.

ZipZap already uses MG network in the US.

Actually you are wrong, WU has 520 000 payment locations, ZipZap has 700 000

You are so fucking stupid and ignorant.

And arrogant!

 You would agree with me if you knew how stupid this guy is.

I agree believe me...

you are narrow minded and extremely stupid , stop trolling and get an education please... or maybe just a human brain.... it seems you not smarter than a dog ...makes me sick..

And I'm not "scamming newbies " or anyone. I'm trading xrp and actually I'm increasing my personnaL stock as much as I can cause I do believe in ripple success.

On ripple, exchange IOUs are publicly tracked (gateway capitalization is public knowledge, its a negative balance right there in the ledger). Exchange IOUs are also transferable, so you don't need an account at the exchange to hold them, just a trust line on your ripple wallet. These two facts make ripple gateways more awesome than conventional bitcoin exchanges.

XRP has decentralized exchange, bitcoin does not (just a bunch of proposals). XRP has a sustainable giveaway scheme, bitcoin does not. XRP has a reputation, business model, and corporate backing more favorable to pointy-haired bosses, bitcoin does not.

It is a trade-off, of course, there are other aspects where bitcoin is better (first to market and established brand recognition, non-profit backing, algorithmic distribution, etc.). The point is that they are complementary and, in general, what's good for either is good for both.

You should try to learn from others but you are too dumb to do that. All your post are pathetic trolling... even your blog is so pathetic and dumb.... NO BRAIN! ahha

I bet you are a veeeery frustrated personn.

Well I would have bought more XRP at .0068 but my Dwolla account was frozen because they like to f**k with their customers.  Of course now it's up to back near .001.  Things just don't work out sometimes. :-/

I bought a token amount of XRP at .81, but honestly not sure where it will go from here.  The ZipZap news should have moved it more, but the client has so many problems that I'm sure it has turned a whole lot of people off to it.

I still think XRP has room to run upwards but if it drops much from here, I might bail on it.

But I plan to use Zipzap to get funds in there sometimes now that Dwolla/snapswap won't work.

It more than doubled against the dollar before pulling back a bit. There's plenty more good times to come.

https://ripple.com/forum/viewtopic.php?f=1&t=3898

that's doubtful. and there's no official announcement. there ought to be one.

after money2020, xrp is continually trending down and may continue for weeks. but who knows. i guess it would be better to trade some of my holdings of xrp for btc to be safe.

Well, XRP usually went down when BTC went up against the Dollar.

With so much mistrust against USD (2 days to go until bankruptcy of the issuer?) of course BTC are trending up heavily. This creates a downward pressure on XRP, which are very easily exchangeable for BTC after all (which is kinda their purpose).

There is no need to hold any significant amounts of XRP unless you want to start/build a service or want to speculate on them (which I really wouldn't recommend at all, considering ~96% of them are not even in circulation!).

Ripple is not XRP and if you are invested in XRP, you would better stop posting on forums and start building services just like if you are invested in BTC you should better increase adoption than building bubble after bubble.

what's the going rate now?

Ripplecharts says 135 XRP/USD, don't know how up to date it is, though. I don't log into the client anymore..... dumped the last of my XRP last week at break-even. Need all funds available for BTC.  :) Frankly, I thought there would be more price movement on the open source and zip-zap news. So it goes....

Bitcoin 2nd bubble is coming you'll regret it :p

Here we go the dummy is back.

You should listen to the Money2020 conferences, maybe you would understand what ripple is about...
https://ripple.com/blog/ripple-developer-conference-2013-replay/

Just watch the conferences, try to understand, then come back. https://ripple.com/blog/ripple-developer-conference-2013-replay/

you're not a developer and don't understand it. You never took the time to read the wiki or any of ripple arguments. You are also not gonna listen to this conferences. Just repeat dumb arguments from Tradefortress... You are like those people saying that bitcoin won't work in 2010.

You are not giving any facts.

Excuse me... I'm a certified genius.  RippleGiveaway.com (http://RippleGiveaway.com)!  FREE XRP, BTC, LTC!!!  COME AND GET IT!!!

seems to be settling around 135 xrp/usd? was hoping that the correction would be followed by continued upward movement....

https://ripple.com/blog/xrp-for-prosperity-888-xrp-giveaway-open-in-china/ (https://ripple.com/blog/xrp-for-prosperity-888-xrp-giveaway-open-in-china/)

$.05 here we come. ;D

nah i think ripple is done, no one cares

I think it's just the beginning :p

So bad this translation is, guess what I thought when I got a glimpse on the translated title: a vehicle company's name

what do you mean ? bad english-chinese tanslation ?

Yes, it's just like google translation, not manual translation, very bad.

that sucks, you should rewrite it and send it to them

is the move because of the zipzaps?  lolz

 :D

Zipzap shnipzap...it's all about China hearing about Ripple at the Senate meetings and the newly improved Trade
tab in the ripple wallet.

I believe we've only just begun...Ripple is the second market cap on CoinMarketCap.com (look at the bottom of the page...click "Looking for Ripple")
and yet the price is one of the lowest of all cryptocurrencies...somewhere between .028 - .033 (USD value).  Which means anyone who bought it for
1 penny a piece or less has currently doubled or close to tripled their money. 

Anyone spare some ripple to get a guy started ?

rNfit3TUPJVeDDxcwQfFA9MSsFPuqd1JTe

Cheers

ps I think the biggest issue with it from my perspective is that fact you can't mine from scratch and there's a complicated process of adding your first XRP.. Shouldnt have to have anything in the wallet ...grrr

XRP can be earned here: https://www.computingforgood.org/ (https://www.computingforgood.org/)

Instead of mining, your CPU is put to use for the World Community Grid: http://www.worldcommunitygrid.org/ (http://www.worldcommunitygrid.org/)

(similar aspirations to CureCoin and GridCoin)

P.S: sent you some starter Ripple

Wow cheers to you.. :)

I have already signed up to them and joined the Ripplelabs team but for some strange reason nothing has come through yet.. :(


And yep its complete cancer markers and reporting back valid.. must be some config i might need to complete...?

Cheers again..

It usually takes a day or two until you have earned enough XRP (at least 20) to receive the first payout, depending on your contribution.

Also the sats by the project are calculated only twice a day and updated globally only once, so in the end, after a weekend on a decent computer you should be well funded. As long as you did all the steps on computingforgood, you just need to crunch and wait.

Computing for Good was SHUTDOWN on April 1.

https://www.computingforgood.org/

The website now displays this message.

Computing for Good
NOTE: Computing for Good will be SHUTDOWN on April 1, 2015. Ensure your XRP claims are placed BEFORE this date.