Bitcoin Forum

See title:
"Why is Ripple getting higher and higher?"

Anyone why?


http://coinmarketcap.com/currencies/ripple/#charts

Money coming out of BTC into XRP.....slowlyyyyyyy

Because it's the only Bitcoin 2.0 that, together with Codius, will make it in the real world.
Bitcoin 1.0 has to many issues, Stellar died last week & Ethereum is to complicated and to slow.

  +1

How is it Bitcoin 2.0? In what universe?

The volume is starting to go down now so it's getting slower and slower.

er....Ripple isn't actually a crypto-currency, guys, and so far has absolutely no 2nd gen features, so callling it Bitcoin 2.0 is , well, wrong.
Ripple was designed to do one thing: act as a semi-centralised transfer/exchange system.

https://ripple.com/knowledge_center/bridge-currency/

 

so many newly registered users on this forum that will pump anything but bitcoin

I wonder why

and fyi Ripple is not "bitcoin 2.0" - If you disagree feel free to explain why. oh, you cant? ok.

Slowly but Surely.....

Won't even try to explain it to the deaf ... will let the market do it for you - in a more visual way....

The only 2.0 that will make it? Really?

https://paycoin.com/

Pity you're forgetting the main players in the 'Bitcoin 2.0' field: NXT and Counterparty.

Both have real-world businesses on board right now, NXT was actually designed from the ground up to support a range of 2nd gen crypto features......
Take a look at the crypto-assets market:
http://coinmarketcap.com/assets/

and I'm conveniently ignoring NEM, Mastercoin and Bitshares, not to mention the legion of NXT clones.

Yep.. that's why it went to 505M over night

Ethereum is going to be the altcoin killer.  Vitalik was able to clone CounterParty on Ethereum in 4 hours.  After it comes out any kind of innovation by any other platform can immediately be cloned and added to Ethereum.  But Ethereum can also be cloned, so that is a bit of a problem.

Also, Ripple isn't really a 2.0

Ripple is all premined , bitcoin is not premined  ::). You're telling me that ripple is betterh than btc ? I think you're wrong.

Calculate the value of premined BTC (Satoshi) and XRP(RippleLabs) and you'll be very wrong ;)

Actually it wasn't premined at all - it's not POW so how can it have been mined?

Premined means a POW client which wasn't released to the public until the creator(s) had personally used the closed client to mine the first bunch of coins for themselves.

Can't understand why Ripple is raising and raising when all other coins are going to fall.

I'm truely wondering about the phenomenon.

Where can I buy some Ripple coins and what is so special about it that is has got such a hugh market cap at the moment?

Do you want to buy with USD, BTC, or what?

If you create 100 Billion coins and sell one to yourself for a dollar, you'll be a billionaire..

It is curious it's market cap is increasing.. even if they capture a large fraction of the ~$500 Billion remittance market that was in 2013, I can't see why the XCP needs that amount of value.. it's not holding the value for a long period. $500 Billion/365 days/24 hours.. even if they were holding each transaction for an hour.. the market cap seems excessive.

I expect bitAssets the like that BitShares is creating will do the same in a few years and you won't need to put the money up front in anticipation of the demand. Ripple will be left with a few very large bag holders and Ripple Inc perhaps will have made a bundle and moved into real digital currencies.

It's not a Ripple, it's a bubble! ™

Buying with BTC.

Either way, you will want to start a new account at ripple.com

I use SnapSwap with USD.  You can do an instant deposit within seconds through 13 major banks.

The total number of supported banks is now thirteen. The initial list of supported banks included Wells Fargo, Bank of America, Capital One, Capital One 360, TD Bank, US Bank, PNC, Chase, Citibank.

http://blog.snapswap.vc/2014/11/four-more-banks-are-available-for.html


For Btc, create a wallet in ripple and below is a little tutorial on creating a new bitcoin address inside your ripple wallet to transfer btc to it.

www.btc2ripple.com

https://xrptalk.org/topic/4547-getting-from-btc2ripplecom-to-rippletrade/?hl=btc2ripple

Wrong, Proof of Stake mining is a thing. It doesn't have to be PoW.

Ok, thank you for the info.
Just one further question I'd like to ask.

You listed so many supporting banks - is this coin held or controlled by those banks in any way?

No it isn't. In pure POS, transaction fees are harvested from the system, they are not 'mined'.

Great question.  100% NO!  Just a rail to get your money out of those corrupt bank accounts into a gateway(snapswap) to place into the ripple network as a USD.SnapSwap IOU.  This is until you convert to XRP, that it is officially an asset on the protocol with no counter party risk.  XRP cannot be frozen.

My speculation about Ripple is that it is a gateway for large holders of Yen JPY to be able to convert it and get out of it ....

As currency wars gain steam I figure .... XRP has a certain "nimbleness" to it that Bitcoin can not offer at the present time ...

I only have one bitcoin in it .....

Just tell me: What' is the advantage of spending all those efforts, time and energy while none if it is reusable???
It's just so ridiculous.... It's like the labor and the fever that warms the gold digger, finding gold that he's holding it in his hands and he very much can enjoy staring at those shining coins, but after a while they start vaporizing in the air .... even before he had the chance to use them creating jewels for his girlfriend or to spend them buying himself some stuff... With the warmth from the labor and the fever all values are gone... forever! But it has to be said: he had a good time after the mining, while he was staring at those coins with proud and a warm feeling to be very rich .... for some time....

Thanks for the info.
I guess I'll try it out primarily by investing a small amount later when it falls again. The today's price is too high for me.

That's what people said when BTC was $0.008 and it went to $0.08 in one day....

+1

http://i2.kym-cdn.com/entries/icons/original/000/007/617/jew_basic.jpg

In case anyone missed it: here is the big news (https://bitcointalk.org/index.php?topic=882698.0)

It is relevant to the future of all cryptocurrencies, not just Ripple.

while that is news...

didn't coinmarketcap jump because additional coins were released and therefore increased the "value" of each coin by tenfold?


like some one says. the way coinmarketcap works is that if some one has 1 million coins. and sells 10-20 of these coins at 1 btcs a pop. then the total market cap assumes the networth is $360 million. and when the same person later introduces additional coin to a new total of 1 billion coins then coinmarketcap takes the last sale times it with the new amount number and voila. $360 billions marketcap.  Mean while only 10-20 coins were sold....

When in reality, the new increase of coins should delude the price down because the demand of those coin did not increase. only supply.

Great question.

A lot of confusion exists on this point (https://bitcointalk.org/index.php?topic=869813.msg9636337#msg9636337).

A basic market cap calculation looks like this: Price x Supply

Price is based on what people are willing to pay for the currency, and derived from exchange information. Releasing additional coins does not directly impact the price of each coin. It will impact the market cap, however, since market cap is calculated according to the price. Due to how coinmarketcap.com calculates market cap,  there will be spikes (https://bitcointalk.org/index.php?topic=869813.msg9636337#msg9636337) in market cap as additional xrp are distributed. Increasing the distributed supply, however, does not increase the price.

A good visual example is the large xrp distribution that occurred toward the end of August:

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

Note that the market cap spike did not increase the price.

In general, I think market cap is a horrible metric for judging the overall value or potential of a currency. Fixating on that metric, in isolation, is a hallmark of the pump/dump crowd in my opinion.

CoinGecko (https://www.coingecko.com/en) and other sites are working to provide more meaningful data to evaluate currencies, by factoring in things such as community/developer activity, volume, and liquidity into a single ranking. All of those things scored together give a more meaningful picture.

Regarding Ripple, since it is a network and protocol supporting multiple currencies, I am most interested in the Total Network Value that can be found at the top of ripplecharts.com (http://www.ripplecharts.com/#/). It reflects the sum of all currencies, including xrp, that users are using within the Ripple network. As a majority of other currency protocols do not support  multiple currencies, however, it is not a good metric for comparison against things like Bitcoin.