Bitcoin Forum

http://s18.postimg.org/ht72v8qp5/Ripple_Scam.jpg
https://archive.org/web/

Source is from the way back machine.

What Ripple did was get Gliss (possible allegation of bribes?) to manipulate the number of available Ripple coins, even though well over 90%+ of Ripple has always been held by the developers.    

Since they control so much of Ripple (90%+ in actuality) they can pump and dump all day and manipulate the price too.

Increase available Supply and get 2nd Place on coinmarketcap.

The funny thing is the public perception is people care about Ripple when really no one gives a shit.

The initial distribution got a bit more balanced (roughly 50% users 50% owners) however that still means a lot of control.

Not really sure that Gliss is co-operating with the Ripple crew.......I've hassled some Rippleheads about this and they claim that the sudden appearance of masses of new XRP on the market is totally legit and has something to do with locked-up XRP being released for projects.
I think.......I was LOLing a lot at the time. They also claimed that Ripples habit of suddenly increasing the market cap has absolutely nothing to do with, for example, the chance that BitsharesX would take the #2 spot.

Talking of Bitshares....anyone notice how someone found an extra 500 million BTSX recently? 

ripple = 100% premined = scam

it does not even make sense.

There is now more ripple (where did they suddenly come from?) and that's why it has higher marketcap? Excuse me?

Because the tokens they they released were given away, instead of being traded on a traditional exchange. Coinmarketcap includes those in circulation, meaning if a block of tokens were released coinmarketcap includes them in its calculations.


And because they were not traded on a traditional exchange, this means that price is not affected as any other coin would be. And since the marketcap looks huge, this is making people think its worth more than it should be an buying ripple tokens.

The last two times they made very large distributions were on 8/26/2014 and 11/23/2014 (two days ago as of this post). You can see the market manipulation here.


https://ip.bitcointalk.org/?u=https%3A%2F%2Fimages.weserv.nl%2F%3Fw%3D800%26url%3Di.imgur.com%2Fm8jpQQG.png%26fnr&t=546&c=vsPYEwszgBpDvw


https://ip.bitcointalk.org/?u=http%3A%2F%2Fs21.postimg.org%2F477087953%2FUntitled_1.png%26t%3D546%26c%3D4a-io4rtix3rYA&t=546&c=ZpWcM_HEV7FWQg

They had a well documented merger of Protoshares PTS, AGS, and Bitshares, hence the increase in supply.

See:

http://bitshares.org/bitshares-reloaded/

As you tend to delete your posts, here's the answer to another, similar post by you that I wrote yesterday:

The jumps in distribution (e.g. on November 23rd.) come because Ripple Labs does not update their page live but only from time to time. There are and will be for the forseeable future ~100 billion XRP out there. What is displayed on coinmarketcap is just Gliss' interpretation of the truth, if you disagree - feel free to open your own page that does it differently (actually that's how http://cryptmarketcap.com/ was initially founded).

Hello all. So I put a considerable amount of money into ripple yesterday because I got caught up in the hype. After reading some of these posts that say that it all may be a scam, I wish to get them back to BTC. I have sold my ripple but they are still 'stuck' as BTC in ripple's snapswap. I realize that I'm an idiot, but is there a way that I can get my coins back to my BTC wallet?

Oh god, we have a panic seller here. What were you thinking if your timeframe is like 1 day?

Okay, but as long as I have them converted as BTC into my wallet at ripple, then I should get that exact amount of BTC at some point, correct?

You have three choices:

1) Follow snapswap's withdrawal process. I've never withdrawn BTC from snapswap, but the usual way is that they give you a destination tag, you make a Ripple payment in BTC to their address with that destination tag and they credit your snapswap account. Then you withdraw to a BTC wallet using their web interface.

2) If you don't like snapswap's withdrawal process, exchange your snapswap BTC inside Ripple for another asset that you can more easily withdraw.

3) Make one or more direct payments to Bitcoin addresses from the Ripple client.

I'm probably one of the biggest Ripple supporters that there is, one of the first people to work on it, one of the designers of the protocol, and employed by Ripple Labs. There is no scam. However, the price of XRP is extremely volatile and behaves entirely unpredictably. I do not ever recommend people buy XRP as any kind of investment. There is always a significant possibility that its value can drop drastically, possibly even to zero, in a very short period of time.

I don't think anybody knows why the price of XRP surged over the past few days. It is almost axiomatic that it can drop just as quickly and nobody really know why. Buying on hype is a particularly bad idea. It is basically mathematically impossible for everyone to buy on the rise and sell before a subsequent decline. It is even possible for Ripple to succeed wildly as a payment system and the value of XRP not go up significantly.

Maybe, maybe not. That's up to the gateway. Ripple can't force anyone to give you BTC if they haven't agreed to do so. I believe snapswap BTC can be sent over the outbound bridge at no fee, meaning you should get the exact amount out if you send to a Bitcoin address from the Ripple client.

Thank you for your thoughtful response.

You people are funny :) I am laughing my socks of :)

If anything.. Coinmarketcap was dragging down Ripple price.. And anyone who uses cmc for a serious coin analysys is nothing more then a rookie.. at best a rookie.... check snapswap and bitstamp for example.. you'll se real activity.. also check http://www.ripplecharts.com/.. you'll see actual bid/ask rate.

bitcoiners are becoming more and more pathetic.. and I don't get it.. it became a religion for u guys

So what! WTF.. why is that your problem even? If you don't have any XRP then don't bitch about it.. and Ripple is far from just BTC Clone.. do some research gdm.. It's like listening to KKK folowers or fucking nazis

Yes! let people decide.. and if you are to warn of real scams then do some fucking research!!! I am all for warning about scams.. but really, DO SOME RESEARCH!

First of all.. the only "real"(almost real) argument is that RL has premined to much of XRP.. but if you did some background check and compared tha value of their holdings to Satoshi premine in the beginning.. you'd see it's about the same.
Ofcourse we all worry that RippleLabs will do something corrupt with it and screw us all.. But based on their claims, they will. not. So it is left to the individual to deside wether to trust them or not.
Second.. Transaction time is as fast as a click of a refresh button. Third.. this pump that is going on.. is either a pump or something really big happening.. And based on all the read news, I believe there is something big going on. Unfortunatelly Banks can not confirm adoption speculation, because they would rather be the first in front of their competition.

And there is so much more details that are more relevant then these few sentences that I wrote... But in the end.. It's up to the individual soul to decide..

And you fanatics, at least do your research!! Why?? Because if it turn's out not to be true.. Then when real scam comes our way.. no one will believe you anymore.

AGREED

i said this a year ago.. look at my comments way back at Gliss etc.
I had to ride them repeatedly to get them to admit shit after a notorious scammy incident that pretty much proved he was in on a scam way back.
and they all denied every bit of it attacked the shit out of my calling me names and insulting me.. calling me a Troll and FUD'er etc etc etc
then guess what happened ?

the usual..

they all later agreed with me and kissed ass LOL

and now you all see an asterisk in that picture.. thanks to ME !
i am the guy who got them to start adding that.
which they would not have done had i not badgered them about it in the first place.

and it's funny what i exposed that shit site of doing is exactly what the OP here suggested.. a year ago with AUR !
severe manipulation.. planned and executed and it worked too.. AUR went up to around $15 a coin
so i bet they are just doing it again  ::)

and yup as usual i have the ability to post proof of every single statement i made if needed ;)
as ALWAYS
Don't make allegations unless you can back them up..

Coinmarketcap the site, is scammy and i refuse to go there ever again as of 1 whole year ago.

PS:
The asterisk = Scam coin as far as i am concerned (i never seen one i thought was legit with an asterisk)

I don't understand why there's so much hate on ripple

Hi Joel,

You say that you do not recommend XRP as an investment, but (and correct me if I'm wrong) isn't a big part of Ripple Labs revenue model appreciation of XRP? I thought I read that somewhere...

Mining difficulty algorithm is boken ;)

I found Ripple through interest in Bitcoin. I evaluated it according to how it differed from all the ways Bitcoin is great. Ripple did not perfectly fit its framework. Understanding Bitcoin is difficult at first. Learning about Ripple was even harder for me. It was easier to passively absorb criticisms about Ripple on this forum, and I fell into that trap for a while. SCAM

After repeat frustrations with centralized exchanges---experiencing firsthand the threat of centralized exchanges---I began to look at alternatives more seriously. NXT had yet to launch, and so Ripple dominated my focus. I gave it a shot, and... I walked away unimpressed. And that cycle repeated itself several times. Each time I grasped the concept a little more deeply. I dug  the idealistic concept (http://blog.hasslberger.com/2006/03/ripple_pay_open_source_cashles.html) underpinning it, and a lot of ideas about the how the system could be used spun up in my head. I kept coming back to mined alts, but developed a side fixation. I unexpectedly found myself defending it, and it has been a slow and steady build since.

/former hater

Assuming you are not a straight up crook (which is hard to do circa late-2014), do you realize how naive you are?

(1)  The XRP market is totally dominated by insider whales. They know exactly what will happen and why.
Even a sophisticated outsider will get constantly blind-sided by insiders.

(2)  The 2 months I traded XRP daily there did not appear to be any fees. Markets where certain
participants pay no fees or minimal fees have inflated and meaningless volume.  

(3)  XRP is trading at << 50% of mid-2013 levels in terms of BTC. It's been a horrific "investment"...
except of course for insider whales.

(4)  Ripple Labs is an extremely secretive and disingenuous company. You can assume everything
is some kind of misdirection. All that hooey about "helping migrant African laborers" is baloney.  
And I don't trust any of the numbers on Ripple Charts. They go back only 3 days for a reason.

Yes.

I guess I can't refute a conspiracy theory, and maybe I am naive, but I genuinely don't think this is true. I'm not sure which variation of this you believe (for example, that there's insider information about Ripple Labs that affects the rational expected future value of XRP or that it's all manipulation and there's no real news), but the version I believe is essentially that the vast majority of the time, the market moves primarily on momentum. That is, when the price is rising, people buy just because they figure they can sell when it gets higher, which continues to push the price up. And when the price is dropping, even people who like to hold XRP may sell figuring they can buy back when it's lower.

I guess you can disagree with me, and if you do, I'm genuinely interested in hearing your reasoning because I am fully aware of the possibility that I might be wrong.

That's probably true. XRP is basically feeless except for a tiny transaction fee. So I agree that total volume is meaningless. One useful metric is to look at volume only where there are fees, for example XRP to/from Bitstamp BTC. You can use that volume as a proxy for total volume. Manipulation will appear mostly in feeless market.

I absolutely agree that XRP is not a sensible investment and that prices can drop drastically in short periods of time for no apparent reasons. Also, there are constant regulatory, technical, and business risks that could make XRP worthless overnight.

I'm a member of the Board of Directors of Ripple Labs, I don't have to assume much of anything. The partnerships we're working on are secret. Generally, we would prefer to release that information and announce them as soon as we can. You're certainly entitled to be skeptical of our intentions. If you happen to be in San Francisco some time, let me know and I'll show you who we are and what we're doing, and maybe that will ease some of your skepticism.

OK, so why shouldn't we invest in XRP if that's your whole premise? If we like the direction that Ripp!e has been heading in (I've personally been following since December) and we believe in the company/team/strategy, then why would you recommend against investment if the price of XRP is your whole model?

Several reasons. One is that Ripple Labs has different legal obligations to its investors than it does to people who hold XRP. Another is that there's no guarantee Ripple Labs' business model will stay the same over time. Lastly, there's always a chance that the Ripple network will succeed as a payment system without the price of XRP appreciating significantly. For example, if the Federal Reserve issues dollars on the Ripple network with no transfer fee, that could become preferred over XRP.

Also, I don't think anyone really understands what's moving the price of XRP. So the risk and expected rewards are essentially uncomputable.

Your response makes sense, but is obviously exceptionally conservative as well :)

Second time ive seen you say this, and as a director on the ripple board I call BS. You know full well why the price is going up, it has to do with the fact that you airdropped coins enough to weasel into the second place on coinmarketcap. Who did those coins go to?



I'm flatly going to say it for those ripple lovers. No one is hating ripple as a coin, the hate is coming from the fact that ripple is NOT just a coin, its a company. The community hates your company. Its the same as GAW (I think it was GAW) posting that they will be creating a coin. Guess how well thats going to go over? My crystal ball says not very well.


I'll post a more detailed thread tomorrow.

What companies does this "community" like? My experience is anytime a business tries to get into crypto they automatically get viewed with distrust and suspicion. But yea, fuck capitalism and all that, we can just trade our Bitcoins for magic beans and Guy Fawkes masks.

Exactly this!
Basically all coins have massive whales that can manipulate. Though generally they also take a risk when doing that. But with 80%+ in the hands of the creators, that risk is totally oversized in Ripple.
There is a reason that insider-trading is forbidden. In crypto that is not enforced - but that means that users have to beware of the risk and avoid it.

https://bitcointalk.org/index.php?topic=873067.msg9659498#msg9659498

Quoting coinmarketcap as your primary source is like writing your PhD based on a Wikipedia article...

"The community" loved MtGox, loved GPUMax + BTCS&T, loved ButterflyLabs... as well as some actually cool companies that do great things. Being hated by the bitcointalk community is not exactly a show stopper or indication for any kind of trustworthyness, just as being loved by it is neither.

Who gives a shit about Ripple anyway? I certainly don't

You might not, but +3M$ seem to like Ripple, every day again ...  :P

The price of Ripple is manipulated through massive increase of supply.
The coin supply has increased 4 times but its value has only increased by less than half.

Issue has been addressed (https://bitcointalk.org/index.php?topic=869813.msg9636337#msg9636337) multiple times in other threads.

Hello smarty?
Ever traded on a stock market?
Massive increase of supply will ALWAYS cause a sharp fallback. Need more buyers to eat them you know  :o

am I the only one who lulz at the idea a company who is working with the trillion dollar Royal Bank of Scotland cares enough to manipulate coinmarketcap to get all the crypto kids who don't have more than two nickels to rub together excited to pump it up?

Just because "we" don't like Ripple doesn't mean you have to go full retard.

Are you saying that increasing the supply of XRP increases the price? That seems to fly in the face of basic economics. Are you saying people are reliably fooled by big numbers on coinmarketcap into thinking the price is rising when it's not and that makes the price rise? That is, I guess, possible, but I certainly don't believe it's significant.

The short term price of XRP really is not that important to Ripple Labs. To some extent, it's seen as a measure of the health of the company and to some extent our success may depend on what people perceive our chances of major success are. But increases in price based on manipulation or misinformation are almost always going to be followed by comparable drops in price. If we like the message price increases signal, it follows that we don't like the message price drops signal. Ripple Labs is not a short term speculator in XRP.

There certainly are short term speculators in XRP who have an incentive to manipulate the price to buy low and sell high. But Ripple Labs is not one of them and their actions hurt us at least as much as they help us. We'd prefer a stable price to a sharp rise followed by a comparable drop.

I don't think there's any way to trick or manipulate the market into an increase in price that won't be followed by a similar decrease. And I don't think such increases or decreases are always due to manipulation because momentum trading alone can do it as well.

You're welcome to disagree with me, of course, but I share my views freely and openly and always try to explain why I hold these views. I don't appreciate unfounded accusations of dishonesty. I'm very open to contrary views and always willing to change my opinions based on evidence or argument. I fully recognize that I could be wrong about this and basically, my position is essentially that market prices in the absence of real changes to asset fundamentals are basically just chaos.

Marketcap is worthless.  What should be tracked is 1 year change in price.

Then your deaf or a noob.. it was discussed like a year ago and they waited quietly for idiots *again.. and well here we are.. all over again.
And if this attempt fails they will go back into hiding and wait and do it all over again.

If you don't know why Ripple is gay then your ears are plugged.. go do your homework.. or clean your fucking ears LOL

Part of the problem is we have a new generation of scammy little pricks that decided IPO scams are legit.
Ripple started it all hahhaha

So yeah of course these idiots don't get it and dived on it.. they are morons who want Lambo's and no sleazy faggy IPO is going to get in their way.

So yeah a centralized non mined coin that is EVEN worse than a shitty IPO ICO ITO IPO ICO ITO IPO ITO ICO OIP C ITO IPC
IS THIS FAGGOTRY.. called Ripple

I hope you all get burned on this shitty gay bullshit hard.. many of you need to learn some lessons !

Hmmm too bad this isn't a Stock Market smart ass LOLOLOOLOOLOLOLOLOLOLOLOLOL

This is an UN-Regulated NO rules FREE (For all) Scam Market

BIG FUCKING DIFFERENCE sweatheart  :D  ::)

I laugh at you douches that pretend this is the NY Stock exchange of Altcoin'ery.. your a bunch of sad pathetic scammy delusional stupid clowns !

STFU and go climb back in your little scam-coin clown-car now.. Hoooooooonk Hooooooooooooonk  :D

Coinmarketcap have to remove ripple to assets, I will message them or i will stop using coinmarketcap.

A lot of the people like to post the Wolf of Wallstreet movie photos and gifs, too bad half the shit here would get them locked up if this was anywhere near regulated like the stock exchange.

We know Ripple is going to be raided and shut down by the FBI once they get too big.  Lol what's the price of Ripple if the developers are in federal prison?  How much Ripple buys a prison cigarette, buy candy at the canteen or to have a swing at the transgendered inmate?  Wait no never mind Ripple is centralized.  At least Bitcoin would continue if the founders were all locked up but to shut down Ripple all you have to do is unplug a few mainframes at Ripple Labs' headquarters and poof - Ripple worth zilch.

The majority of XRP has always been in the hands of Ripple Labs and its developers. They can release their XRPs onto the market any time they want and instantly increase the market cap that way.

Nevertheless, Ripple is doing very well at the moment. Normally, an increase in supply would have boosted the market cap for a short while but I would have expected prices to eventually account for this and adjust downwards accordingly but instead, the price seems to be going the opposite way - i.e., up not down.

XRP are a cryptocurrency, USD/BTC/EUR/... on Ripple are assets (these are not tracked on coinmarketcap atm.).

Maybe worth "zilch", the network would continue running though. Anyone (with certain ressources, hardware + bandwidth wise) can run a full node. Code is here, under a very(!) permissive license: https://github.com/ripple/rippled

I find the homophobic vibe from some "critics" here ("Ripple is gay", "faggy IPO", "faggotry", "shitty gay bullshit", "douches", "have a swing at the transgendered inmate") quite off-putting by the way.

Is it really that hard to provide criticism based upon facts ("Ripple is centralized because ... is in the code, see it here on github" or something along these lines) instead of just making blanket statements with 0 followup ("Wait no never mind Ripple is centralized.") and sprinkle on some insults ("your a bunch of sad pathetic scammy delusional stupid clowns"), threats ("I will message them or i will stop using coinmarketcap") or even just post with 0 content ("Who gives a shit about Ripple anyway? I certainly don't")?

If you mean "XRP" with "Ripple", yes, you can not freeze them.

https://wiki.ripple.com/Freeze#Individual_account_freezing

Freezing enables gateways to keep control over stuff they have issued on Ripple (e.g. Bitstamp can stop you from trading both on their exchange AND within Ripple if you deposited money with them).

I'd argue that the price, especially these days, is almost as worthless as marketcap. What matters is the order book - the depth of the order book.

The current "price" of many altcoins is held up by less than 1BTC worth of demand, with a huge drop off in buy order pricing after that. A lot of struggling coins desperately try to prop up the impression that demand is stronger than it is by making the price look higher than what it really is. But the depth of the buy order book tells the real story about what a coin is really worth (or isn't worth) - what people are willing (or unwilling) to pay for it.

Hm, so in essence a metric for "price after selling 1/10/100/1000 BTC worth of $coin across all markets"? Potentially the opposite would also be interesting ("price after buying...")?

There is a problem though with exchanges that allow unfunded orders... Say I own 1 BTC on exchangeX and want to buy either 1 BTC worth of Acoin or Bcoin. I enter 2 positions: Limit buy 1 BTC worth of Acoin and limit buy 1 BTC worth of Bcoin. Whatever order gets fulfilled first, has won, the other order might be cancelled/not displayed as unfunded after that.
The question is now: Is the market depth for Acoin and Bcoin now 1 BTC each? 0.5 BTC each? 0 BTC, since we can't know what will happen? If exchanges don't report on the owners of positions (and they likely won't), this is quite difficult to decide.

So yes, this metric would be great to have, it could become manipulated easily though, but at least the manipulators also have some risk (once a trade actually happens, they lost all other positions in all other books).

I would love to see more charting sites attempt to measure market liquidity (interesting problem (http://arxiv.org/pdf/1112.6169.pdf)), and then use those scores as weights in other measurements. I think it could help reduce ongoing market manipulation across all cryptocurrencies. Price + Market Cap + Volume as sole fixations, as currently calculated, almost promote manipulation.

CoinGecko (https://www.coingecko.com/en) is getting smart in that regard.

Any other sites using new interesting scoring approaches?

Edit: corrected link on measuring market liquidity - originally linked to a different paper

It sounds like there is a lot of fear on this thread that Ripple might be able to deliver something that Bitcoin has not been able to.   

There is, but above all a lot of ignorance and sheer hate. It is understandable, as a lot of people here have invested heavily in Bitcoin and quite a few have lost money. A competitor would be detrimental to any future gains.

Exactly, that's the only measure that matters - funded, of course, like what's shown on Bittrex. Think about it - do you really care what the current "market price" is or what you end up getting per coin on average if you sell or buy "x" amount? That's the only price that really matters to you - what you get on average per coin when you sell (or as a buyer, what you pay on average per coin that you buy). In many cases, after you buy or sell, the market price clearly turns out to be just a mirage.

In many low-liquidity coins, there is a massive difference between the market (initial) price and the order-queue-determined (average) price. Many dying coins still trading are effectively worthless - they're the walking dead.

Notice that this seems to be the focus of the whale pump-and-dumpers. They focus like a laser beam on the order book. Once buy orders get really fat at a high level at or near the market price, they dump to maximise their earnings. This is why you often see a massive BTC windfall even when the price chart doesn't show much of a drop off in price - yet (the sharp drop off is often revealed later on in the dump stage when others subsequently dump after the whale has into a devestated order book where pricing has been eaten up and destroyed by the whale).

That's why you see the massive excitement over relatively small % price changes in BTC - because those % changes actually mean something. There's a lot more BTC behind them. Back in the old days, DRK, VRC, etc., when they were high-liquditity coins, the market price was or was close to what you got on average per coin when you sold.

The current market price means nothing if there's less than a BTC of buy orders left behind it, sustaining it.

And that's the story of the current market collapse - it's worse than what it looks like if you look at prices alone. There's no real buy support, no real demand, for many of these coins.

I thought honey badger didn't give a shit, seems like he's awful pissed about ripple!
What I can't believe is; how so few people neglected the free giveaway ripple did when it came out. What were they afraid of? I grab most free giveaways when I can. It's free after all, and it's not like I'll be ostracized or humiliated. I'm not in middle school so I don't care if someone calls my stuff "gay"
Also, I don't get why XRP is perceived as a threat to btc. You don't have to get very far into the literature to see it is complimentary in its relation to other currencies.
I do think this price spike could be an over valuation though. Not a pump. I will continue to hodl my XRP - my two possible outcomes will be= moon, or XRP worth exactly what I paid for it (zero)

For anyone to think that Ripple is a scam at this point is either in denial or an investor looking to push the price down. The CEO is very public, and a renowned player in the alt currency market. They have public events to spread awareness for their platform--most recently they did Around the World in 5 Seconds. And they have actually signed banks to use their platform. Ripple Labs is a private business that is looking to utilize XRP in order to run their extremely ambitious goals of connecting fiat currency to the digital realm.

I would also like to add that MIT's Technology Review recognized Ripple Labs as one of the 50 smartest companies today. There's a lot of positive faith in the Ripple protocol:

https://twitter.com/cryptospacesuit/status/539184416422387712

I love that Ripple haters gloss over the fact that CEO Chris Larsen was a pioneer in social/p2p lending (http://en.wikipedia.org/wiki/Peer-to-peer_lending) as the founder of Prosper (http://en.wikipedia.org/wiki/Prosper_Marketplace).

Ripple manipulated by Coinmarketcap , really ? ..
Wtf , true ? or its  just in order to affraid people ???
When i see the "trust" of the post maker is dont know lol ...but  facts dont lies ..

Uhm, I have yet to read any statement that indicates otherwise.

I believe myself that this is just some random Pump + Dump strategy (though likely not done by Ripple Labs' (ex) employees). This has no real influence on Ripple itself though, Bitcoin was pumped + dumped multiple times too already in the past.

Here (https://bitcointalk.org/index.php?topic=869813.msg9636337#msg9636337) is my take on the manipulation accusations.

Well, I didn't trade XRP at all for months now, in case you were directing your comment at me....

I don't think MtGox "scams" (being very VERY incompetent != scam...) are good, I just said they happened in Bitcoinland before too, P&D are not something extraordinary or unique and not indicative of anything other than a few people managing to move a small market.

I think we can all agree that it doesn't reflect any significant change in the fundamental value of XRP. Nothing fundamental changed. It doesn't follow that it's a pump and dump, it could be simple market momentum. But I think it's pretty obvious that any sudden, drastic increase in price that doesn't have any apparent justification is likely to be accompanied by a corresponding drop in price.

And, of course, everyone thinks they can buy in, wait for it to reach the top, and then sell out before it drops. But simple common sense will tell you that that it's impossible for everyone to make a profit if the price returns to where it was before.

Long term increases in the price of XRP benefit Ripple Labs because they allow us to sell XRP at a better price and because they are perceived as market confidence in the success of the Ripple network. To some extent, people's willingness to invest in using the Ripple network is dependent on how well they think it will do in the future and long term price increases help. But short term price increases due to momentum or manipulation inevitably followed by corresponding drops in price don't help Ripple Labs at all. The drops can send precisely the opposite signal, and the net result of a rise and drop is a weakening in the connection between the price of XRP and the long-term viability of the Ripple network.

Ripple Labs is not a short-term XRP speculator.

most people know that it is Ripple-Scam  :-\

the company can change everything. thats a sad joke. to compare ripple with bitcoin is ridiculous!

I dont know... I sold it with success  :D

How can they change everything? It sounds like YOU have no idea about what you are saying. Sad.

Thanks for the helpful info, JoelKatz.  I recently started using ripple as an exchange for buying and selling snapswap btc/usd.  I withdraw btc over the bridge.  I didn't know about the withdrawal process you outlined in 1) above.

withdrawing straight to your bitcoin wallet via the BTC bridge is fine as well.

it's because..

http://www.cinemablend.com/images/news_img/66911/Star_Wars_Episode_VII_66911.jpg

I only check the price. It's nearly double.

The snapswap.us website claims you can send, trade, receive "any currency."
After logging in on snapswap.us, the only thing they let you do is deposit or withdraw dollars.  My snapswap bitcoin balance doesn't even appear in the account history.
Can you please explain this?  And how to use snapswap with btc?  As it stands, I have to do everything through rippletrade and the bridge.

how come people are still talking about ripple?

http://www.cinemablend.com/images/news_img/66911/Star_Wars_Episode_VII_66911.jpg

Market cap in crypto is the biggest joke i've heard. It's a false representation of the true value to a coin and gives those outsiders hope that something big is on the other side. Value should be based upon liquidity and distribution of the currency.

With a first sale on an exchange in any crypto the "market cap" is set based upon price of trade multiples by the distribution of currency. This is a horrible way to represent the value that backs the currency as it instantly creates a unrealistic monetary value. The longer people believe the system of coinmarketcap is true the more will have legitamate legs to stand on, so sad as many will be taken advantage of.

long time lurker of this community and happy to join this discussion,

-T

Welcome to the world of digital penny stocks

Reminds me of the wizard oz. Following the yellow brick road....

I really find the manipulation of price in crypto amusing. I assume this has been the way things have gone forever excluding crypto.

*cough* federal reserve *cough*.