Bitcoin Forum

http://asia.nikkei.com/Business/Companies/Japan-s-SBI-megabanks-take-stakes-in-blockchain-group-R3?n_cid=NARAN012

http://www.cnbc.com/2017/05/23/r3-funding-blockchain-intel-bank-of-america-hsbc.html



So Ripple signed Japan SBI which was a group of about 47 banks and created SBI Ripple Asia which caused pump from .20c to .40c but news just came out today that Japan SBI joined R3 and are creating their own coin. R3 has loads of banks on board and is like a Universal Bank Consortium, majority will be owned by the banks in it unlike Ripple. They will use it to implement blockchain solutions to save them money. I saw this coming a mile away. All these banks are investing in their own ILP Ripple type network so they don't have to depend on a third party. Why depend on a third party when you can have your own and save even more? Whales are trying to maintain XRP value as some hold a lot but they can only keep buying so long because noone else is buying.

Below are some competitors in the blockchain banking scene with more coming:


R3
Quorum
Ripple
Axoni
InfoSys


Good bye Swift and Ripple, hello R3 lol get out before the house burns down I've been saying this for awhile now. There is no more good news left for Ripple. They were a shame at Consensus and now their own group just ditched them. Greedy centralized trash.

This is why open sourcing all your code when you have unique technology is a bad idea. Someone will just take the code and implement their own solution. Better off treating your code as intellectual property.  All these open source coins are inherently worthless from the perspective of all their "unique features" because big corporations will just rip off their ideas.

No, open source is a good ideea but ofcourse not in all case. For this particular case, open source was a grea ideea. Problem is, ripple network can work without XRP, which means there's no intrinsec value for XRP to exist on the network beside speculation.
I admit, i almost gave into fomo and almost bought at 1 billion, then at 4billion, but i didn't. You'd think i feel sorry for that, but i don't. Projects that can't manage to make their token usable and valuable to the network can die any second ( read massively dump ), so i didn't want to risk.

that is what i have always suspected!
a centralized world doesn't work well with the decentralized one. the banks want and always prefer full control. specially when it comes to these delicate matters. and also when the price is this volatile in the altcoin!

with a self made blockchain they can do anything they want without taking any risks. they make any changes to make it better and more secure and the value of its token doesn't have to change at all hence avoiding the super volatility of Ripple.

something called cryptocurrency MUST be open source, there is no other way. the power of it lies within being open source and peer reviewed by anyone.
and if it is good, then people will contribute to it and make it better and grow bigger. look at bitcoin. it is open source, it has been copied a million times with changes, and at least a dozen times without any change and none of them could even live up to become adopted outside of an exchange by anyone other than traders.

There are banks which are quitting the R3 consortium too. Looks like the banks want to have their individual, patented blockchain applications.  :P
Ripple had a great run so far, for a currency which is not decentralized. Now, I guess it will come down to Earth.

This is great as divided they are not such a threat to the future of crypto economy. Competition between many such projects will keep their prices low and thus investors won't be too interested in them hopefully. Any centralized project like XRP becoming a top currency is bad for us in the long run. Goodbye Ripple, you won't be missed!

maybe XRP can still survive with smaller banks and co-op banks.. Who needs these big players.. time to cut losses

have no sympathy for ripple with their we will distribute it for free....but whoops we just keep most of it actually method.

However, yes they will just rip off your ideas in the end and create their own version. Keep it closed or demand licensing fees from them.

And yet bitcoin's code is open source and has hundreds of alt clones, but still goes from strength to strength!

Re. your comment above i bold - this is why WBB (dlsag.com) is creating the IDEAL HYBRID solution about to launch in June  8)

R3 is a major competitor to the Ethereum Platform as well after having abandoned ETH in 2016.

There is a big dump in this time and looks the problem already appeared. Anyone in here, What do you think about the future of ripple? Regarding from the latest discussion i can take a conclusion to stay away from ripple.

I don't quite understand ripple, but it sure seems to be doing fine.

If it is true there is a big dump ,, it should be like that. While we note, hopefully dev ripple quickly solve this problem

I dont mind banks joining the blockchain and cryptoworld, but they have to do it in a decentralized way else they are going against what blockchain technology means. People supporting ripple/stellar and clones will only help banks and governments to corrupt the crypto world and that wont be good for the small fishes once again
I am totally against centralized cryptos

seems to be doing fine.
[/quote]I do not also understand ripple! One thing I have seen is it price keep on increasing and its market capitalization is tempting. In which ever way ripple has come to stay and we would keep on invest in it.

do you follow any news? please see joel katz's response to everything consensus related - their approach was strategic.

you and many others act as if ripple has to be the only solution. do you know who else open sourced their software? tesla. do you consider them to be in "major trouble"?

would you say, "apple created a computer!" microsoft, hp, etc. are done for. no, you wouldn't, because competition is good for business.

did you know ripple holds a patent for a distributed network for payment processing? depending on how specific it is, other companies couldn't do what they're doing. if they do, ripple could license the intellectual property, which would only benefit / add to their bottom line. ripple is also light years ahead of everyone else...

please stop encouraging fear without knowing/stating proper facts.

Don't forget Stellar, which is basically just a fork of Ripple.

Would be betting on R3.  Ripple doesn't appear to have the durability.  JP seems to be playing around with ZCash. It will be interesting if this is all spin or if JP will commit the resources needed to stabilize ZC. 

It seems BONY has interest in R3, if this is true, bets are on R3.  If Blythe still has pull at JP, its a concern JP screws around with ZCash.  But if BONY goes R3, as the largest custodian bank, all roads point to BONY's technology.  And certainly after govt clearing, as JP pulled out of the biz, BONY is all that's left.  Trillions $$$$ of Clearing.

I think not to worry about dumps, because ripples are altcoins that are still used and traded on the market, so it's natural if there is a dump in this case maybe they see a high Bitcoin price for now, so we'll see how it goes in the future.

why all banks when to create their own coins? they still want to control the people like it used to in the past, right? Damn it. They will soon fallen and they will realize that their destiny belongs to cryptocurrency

hahaha, why?

https://www.xrpchat.com/uploads/monthly_2017_05/59271f8eef82f_ScreenShot2017-05-25at2_14_10PM.png.d4fb071014cbdaf4cc2e396e36213247.png

another 4.2B xrp was just released, and surprise, right after consensus ended... for example, ripple is partnering with BTCXIndia to launch an xrp exchange. so much FI money is coming into the crypo space.

stop making foolish statements.

Whoever supports ripple really has no clue of what it is.
Either that or you dont want decentralized currencies to gain space over the corruption that are the centralized ones.
So many opportunities to make money, yet people choose to support the ones that are trying to take the money away from them

this was obvious from the start, apart from to ripple fans. no bank will ever, ever expose themselves to any type of market for their internal operations. that's an incredibly stupid idea.

Not sure what you're saying about taken off coinmarketcap, 364,433,379 more ripple were released by the corporation so far in May to take advantage of high prices and 2,245,738,918 since the beginning of the year. At current rate of additional ripple tokens flooding the market likely will see over 5 billion released this year.

End of December 2016: http://coinmarketcap.com/historical/20161225/

The end of April 2017: http://coinmarketcap.com/historical/20170430/

Today: http://coinmarketcap.com/

We're quite happy to compete with everything else. We have an actual deployed product that works today. They are experimenting. We are working with their transaction processing people putting machines in their datacenters in their transaction flow. They're working with their innovation people seeing what the technology might be able to do.

updated my post - that amount was added, then taken off (as reflected in coinmarketcap).

There is trolling everywhere in this topic. Pure Speculation. Like as if the readers are plain stupid. Like as if all those who have put their money on Ripple are just naive kids who have been misled by the evil Ripple devs.

You're telling me the circulating supply listed is now incorrect? Well for now the website "coinmarketcap" which your refered to shows the complete opposite. Did you even click on the links where I provided evidence.

There idea should have been to be a competitor with banks, now that they decide to turn against it, it might not be easy to go by XRP. The effect of Japan on bitcoin now shows how they can pull a coin and if they want to dump it, they are equally capable.

guys, how do you think what is the consequence of ripple dump for stellar? dump or pump?  ::)

Okay I checked the historical snapshot from last week:

http://coinmarketcap.com/historical/20170521/

It does show they removed 283 million from the market (a far cry from 4.8 billion). Maybe they felt bad that people noticed the other 2.2 billion they already added to the market.

Yep, since 2013.
"They" have beat down ripple/xrp all the way from $0.006 to $0.40 then back down to $0.25.
While lurkers, who have accumulated over the last 4 years, are looking ahead to 2018/2019.

Some are against everything ripple stands for and would rather miss a 10000% return in a 5 year span (March 2017-March 2022) than provide liquidity/value to Ripple Inc by buying xrp. Others just don't think ahead of tonight's dinner.

Some are just here to feed their kids.

Holy s... and I am sitting on a big pile of Ripple. I'll sell once they implement the escrow

So this is the reason why ripple crashed.  Seems holders are abandoning ships now.  I almost give into buying it at its peak but I was lucky I hesitated.  I feel sorry to those who bought at 20k+ sat, now they are sitting at a lost.  Do you think XRP will bounce back?  I feel that it will even go lower since majority are now in panic sell mode.

Interesting read, this is news to me. The coin was already in a bear market, and I think that such conditions only increase the price drop in the market. It is surprising that a cryptocurreny with so many points of centralization has become, even for a short period of time, the second most valued in the crypto space.

That's really not so much of an issue any more.

The Chinese government could declare that no miner can build on top of a block that spends a particular bitcoin UTXO and it would be censored. There is no clear plan for how to fix this. Nobody cares enough to actually do anything about it. Whoever has the cheapest power and the best ASICs is a bitcoin stakeholder no matter what you do -- and they want high transaction fees.

Bitcoin's governance is completely paralyzed. The people who believed in bitcoin as a payment system for ordinary transactions can't operate their businesses. The idea that you can have no governance but the system works because interests are aligned has been demonstrated to not be nearly as good as we all hoped and thought it would be.

I'm not bearish on bitcoin. Bitcoin will get through this. But it shows the ridiculousness of complaining about the much less serious drawbacks of a significantly technically superior system.

1) Ripple's consensus protocol doesn't force whoever has the cheapest power and best ASICs to be a stakeholder who wants high transaction fees.

2) Ripple's currency distribution system enriches those who built, and build on, the ecosystem, not power companies and semiconductor manufacturers.

3) Transactions on Ripple confirm faster.

4) Ripple's transaction volume and transaction capacity is much higher.

5) Ripple has functional governance with a clear way for users to change the stakeholders if they don't get what they want.

6) Ripple supports security features like key rotation that are not supportable on a UTXO model.

I still think bitcoin will dominate for the foreseeable future. It got there first. It's good enough technically. There are massive network effects. And there are ways around most of these issues and none of them are deal breakers.

But the number of people making this tired argument that has not stood the test of time well are very, very few now. The facts speak for themselves.

Just noticed that there is an exchange in India just to trade Ripple but one thing i can tell is if the news about ripple is true then all the hype it had till now is vanished just like that and if OP could explain what went on during the Consensus because you stressed something went wrong during the conference which i am not aware of.

Think ill hold onto my ripple for the time being see what happens with it.. but I fully agree open-sourcing something like this ain't a good idea as said before someone will always come along
and implement some new feature .

i don't believe anything wrong happened during consensus. i think many people were expecting something "extraordinary", but people have to manage their expectations and more so remember that xrp saw impressive growth over the last few months. that alone should be (and i would imagine is) reflective of years worth of work and progress.

joel katz mentioned how they re-strategized in a way last minute (paraphrasing). i don't recall the exact specifics, but it sounded like they didn't want to get lost in all the amazing news and updates from other companies. you have to remember that ripple has been at this for a lot longer than others. don't discount all the amazing progress they've made prior to consensus. there's also a payments summit happening in toronto right now, so there could very well be some new updates shortly.

people have to remember that no company is impervious to dips / market fluctuation. financial markets are dictated by a lot more than a company's performance.

If this is the case and its true, I'll be pulling out my XRP's in trading. But we'll try and see what will happen in the next few days too.

in the world of cryptocoin will always be the name of a dump or pump. Ripple including old, altcoin, so I'm sure the dev ripple will not stay silent with all that is going on

They got alienated at Consensus. Then JoelKatz basically said, "They didn't give us time to present so we couldn't convince any companies to hop onboard with us."

Other coins are also getting on BTCXIndia but noone published that news, Ripple had no other news to publish.

I thought that during and after Consensus the price was going to raise... but it sank

I really hope that XRP doesn't get in trouble

These stupid anti-Ripple trolls need to grow up. In long run Ripple will be winner. The hardcore crypto community is against it because they are immature anarchist; institutional money will be favor something less geeky and uncontrollable. Meanwhile Ripple has been steady in the top 3 for years already. Get a life.

what do other coins going on that exchange have anything to do with? ripple has partnered with them. that's kind of a big deal considering india has over 1.3 billion people and its people are adopting crypto faster than many other countries.

Satoshi Citadel Industries Will Integrate XRP In Remittance And Mobile Money Services

Along with the financial sector xrp will be a force outside that arena as well. Trolls need to stop the xrp hate and realize what is happening in front of their eyes.

I totally agree and yet people invest here maybe because of the profit my biggest fear is to beat Bitcoin in the number one position,even if it not considered a 100% crypto currency,glad that they are going down.

Well there had been a lot of speculation about Ripple crippling in the next few days, but so far it has kept its value around 12k-13k in Polo. Especially with bitcoins high price now, some altcoins are having a hard time pumping.

90% of his articles are about Ripple and XRP lol some nice crowd control right there. Satoshi is a block-chain company.

Umm, what?! I just said that trying to do all of the demos and announcements we had originally planned to do at Consensus would have been difficult, so we did them before Consensus specifically to drive interest from potential partners at Consensus. That worked very well in driving interest at Consensus but also resulted in us not doing any major announcements during Consensus.

That's what happened. Originally, we were going to do the three new demos and the various announcements at Consensus. But because that would have been too much to do in a small amount of time, risked getting lost in other announcements in the space, and would have left interested people with little time to find us at Consensus, the strategy was changed to announce every few days before Consensus. I think this strategy worked well -- we had multiple concurrent meetings with potential partners through the entire conference. It would have worked better had I not implied that we would be releasing interesting new things during Consensus, and that's on me.

Banks are not going to use a crypto coin.. quit being stupid.

All you guys needed was 1 good article of news and the Whales would have shot it past 50c at Consensus. Let's see what happens, too much spread and volatility for banks to even consider using XRP. You guys have some market makers, I see them on GateHub/BitStamp selling for 1-2c margin maintaining the price. They're stabilizing XRP. The only issue would be is this is a growing space so when something stales people will hop out and hop into new projects for a chance at making more money. So it's an iffy situation, when XRP stabilizes people sell while the HODLers with bigger dreams hold to sell another day. At the end of the day everyone is looking to sell for profit. You see David the only reason 99.9% of XRP holders are holding it is because they see its' value increasing. If it were to ever settle and hit its peak that day a huge dump would occur that not even the market makers could control. Some people have $1 dreams some $10 some $100 some $1000 etc., I'm sure you see all the foolish posts and chuckle to yourself as do I. Then those people would move on to the next "BIG Thing". I know XRP has better tech but BitCoin is BitCoin. All these other coins would die if they hit peak value. The future of alts is they will become shares that pay dividends to the holders. They will get their tangible value from there. Start-Ups can make decentralized projects and get publicly funded while keeping some coins for themselves and some for investors. This is how I see the CryptoVerse evolving. The reason why BitCoin has no valuation is because it is the storage of wealth. Every other alt is a child of BTC connected to it. Ethereum is the Prince, the platform upon which developers will build so it will not have a valuation either. The companies built upon it should though. BTC/ETH are the brain childs' of decentralization there is much philosophy to their pricelessness. XRP is the coin of a centralized software company so it cannot be priceless.

You see BTC/ETH were brain childs' let loose to the world so they cannot have a set value, the people will control them. I know people who wouldn't sell a single one for a million dollars. BTC is the storage of wealth and Ethereum is the platform upon which many of these decentralized dividend paying start-ups will be created. In time I do believe they will break free from the miners and become completely decentralized as new breakthroughs happen. We shall see what happens. I am not sure of the short term or long term future of XRP.

Some coins are at their bottom right now because of the pump on the Bitcoin right now. The speculations are just predictions. Read an article where someone said that the pump on the Bitcoin is because the technological countries like Japan, Taiwan,etc. Will start accepting cryptocurrencies. People just talk their mind, we have to decide on our own.

Since when was Ripple outside the trouble? Ripple itself is a trouble. If you don't see this, you're probably drunk on its rise, but be careful. Its price movement is so speculative.

You are so right, time is everything in cryptos, and XRP has a lot of time working out. Is not just fork a code and distribute coins. All the know how of XRP are 5-6 years of advantage. This mean an eternity in IoT.

I think you're wrong, but even if you're right, it actually makes no difference. Banks will use the cheapest path that complies with their regulatory requirements. They don't have to know who supplies the currency to the destination (they don't know now) or how that's paid for (they don't know now). So a payment can be bridged by XRP, the sending and receiving banks can have no idea that's what happened, and they are entirely okay with that.

@JoelKatz
Can you possibly fathom how many times i have been over this ?

There is patterns in crypto..
Chant lies and play dumb and repeat.
Cry FUD then ignore any criticism then.. repeat.
Someone disagrees ?
Ignore them and.. repeat.

I could give TONS of reasons (like i have before) but why bother ?
#1 ..no one cares.
#2 ..it will be ignored and i will have to repeat what i say when the big banks are using Ripple / ETH news is posted again.

It's a merry go round that goes on and on for years.
Nothing ever changes.

You could get off that merry go round by engaging *my* arguments when you talk to me rather than complaining about what other people are doing. Just a thought.

Yes, I agree that there are people spreading bogus information in support of XRP, just as there are people doing that in support of many other cryptos. And the same goes for people spreading FUD about all of them.

I don't care whether people agree or disagree with me. People are free to have whatever opinions they want and there's no such thing as a wrong opinion. What I'm engaging with is the claims behind the opinions. Claims are either or true or false.

Again, I have claimed that this is a fact several times: "Banks will use the cheapest path that complies with their regulatory requirements. They don't have to know who supplies the currency to the destination (they don't know now) or how that's paid for (they don't know now). So a payment can be bridged by XRP, the sending and receiving banks can have no idea that's what happened, and they are entirely okay with that."

Do you think that's not a fact? If so, why? I replied to you by directly addressing the claims behind your opinions. I've done this several times, and you never defend or abandon the claims. So it's no surprise we're back to square one when you repeat your opinions.

First Mover Advantage.   There's no other way to say it.  It's the reason why Coke will forever be above store brand cola, and you could fill pages with other examples.  That's why these limpid cesspoolcoins won't ever gain traction.   Bitcoin did it first and did it best.  The me-too coins are just that.  Bitcoin with some other unappealing label slapped on it by half wits.

To prove noobwits right, priceless.

I would say so loads of people selling it on the markets right now price is dropping like a stone.

this was so clear, bank parasites pretend to be interested in crypto just to steal their tech and use it for their own benefit, well doesnt matter comunity projects like ark will rule the future

@Joel

You are full of shit and lying.. and a paid employee of Ripple inc with a vested interest in siphoning chump change from children & idiots for a me too ICO coin.

The assertion "Big Banks" are going to one day adopt Ripple coins is blatantly retarded.

And it is you that is giving us the run around playing games.
That is on those off rare occasion when you show your fucking face.
I comment and you pop up saying i do not respond to you ?
Well where were you the last 99 times i commented ?
Seems you show up every few months then claim i ignored your points..
bullshit.. you're ignoring mine (casting / projecting on me what you are guilty of)

I refuse to play your long winded little games of verbal gymnastics and head games over RIPPLE INCORPORATED's 100% PREMINED ICO SHIT COIN

I don't give a shit what you think at all.
You are a corrupt player on a corrupt team here to make money.. i am not.
Nobody is padding my bank account to run my mouth buddy.
UNLIKE YOU !

And you can't deny it either because it says so in your fucking SIG.
Employee's don't work for free... but they sure as hell do show up here to aggregate chump change from kids via Poloniex profits in an unregulated scam scene.
Feel good about your self bud ?
Proud of selling your "Big Banks" ICO coin to children in exchange for their lunch money ?

Ripple is fraud.
Ripple has been blatant bullshit since day 1.

If you all have even 1 good reason why Big Banks are going to work with Ripple inc and adopt a crypto currency 100% premined ICO coin called XRP i'd love to hear it.

The reality is their vast existing list of options slaughter any crypto bullshit.
Why in gods fucking name would a bank want to hand over public accountability when they never have before and it is of no benefit to them but a penalty in cost and finances and performance ?

Right now banks already have a shit load of options to move money.
For example
Google search the list of Banks using Interac eTransfer.. it's simply monolithic !
Why would they ?
Heard of Interac ICO profiteer scammy losers ?
You may have seen it stamped on every ATM machine on earth dumb fucks  ::)
And not only that but they offer other services above and beyond "Interac eTransfer"
But for the home user it boils down to benefits for them (they have an alternative scheme for business)

As it was in 2013 i can NOW send money or receive it with eTransfer and it is virtually instant.
And costs about 50 cents.
All i do is click on the verification link in the email and the email shows up instantly.
BAM !
Money is in the bank that fast.

Then.. lets look at Bitcoin.
How has it been doing since 2013 ?
Well it costs more and more and gets slower and slower.
And does ripple's XRP solve any of that ?
No.. it introduces even more issues i have bookmarked ready to jam down your dumb fuck shill throats.

You are a fraud peddling blatant lies and bullshit to gullible idiots to sell the Ripple INCORPORATED ICO PREMINED "coins"
Because that is how YOU get paid.. by Ripple inc.

Lucky for the list of big shot CTO's and CEO's and CTFO's and all the other corporate kiddy crypto bigwig's none of these little idiot profiteer brats give two shits what Ripple is or HOW it works or if it was launched scammy (which it was)
All they care about is.. will it make me money now ?
That is it.
Whether the truth is "Big Banks are using Ripple" is of no concern to them..
unless they think it will pump their shitcoin "investor" "Holdings" in their "markets"

Joel go fuck yourself.
I don't care what you think.
And i would be happy to hear you are in jail or at least investigated by the Fed's for fraud.
Don't think it can't happen either.. maybe FiNCEN needs to have another look at you guys ?
Getting a little cocky little mister "market maker" ?

I understand that you have 500 arguments. But I can only solidly address one or two at a time. Every time I do, you refuse to engage with the argument I've made and instead move on to other arguments. That is simply not what someone who cares whether the things they believe are true actually does.

I made one argument in response to one argument you made. You responded by complaining that we've had this conversation before, though we haven't. I asked you to stick to the point you made and my response, you responded with fifty new points.

If you're not going to actually respond to me, stop pretending to.

Again, this is a very specific claim that I'm making: "Banks will use the cheapest path that complies with their regulatory requirements. They don't have to know who supplies the currency to the destination (they don't know now) or how that's paid for (they don't know now). So a payment can be bridged by XRP, the sending and receiving banks can have no idea that's what happened, and they are entirely okay with that."

If you disagree with that, explain why. If not, concede it and move on.

The onus is on you (or Ripple inc) not the other way around.

Just run every single coin on your network and let banks/market-maker use the one with the best trading value at the time to whichever currency, end this XRP sham already. You can run any coin on your network with some work right? I heard recently that ETH is getting compatible to run on the Ripple Network.

That's correct. We're working to build a level playing field. XRP will have to compete with other assets, including BTC and ETH. The idea is to make the pie as big as possible, not to get XRP a big slice of a small pie.

if they want to make money they should be pumping the life out it after its horrendous day!!

In poloniex, its Daily high is around $0.30$ and low is around $0.12, this is also enough to Show how dangerous it is. Just be informed for this troll altcoin.

What does it take to get through to brain damaged greedy scammy idiots ?

Do i have to go and contact "Big Banks" and ask them 1 by 1 to comment ?
Would that shut you dipshit shill's up for once ?

Oh wait i have..
I talked to bank staff and they were damn near calling the cops on me.

Then..
I read the cover of my news paper way back that had bank staff interviewed about Bitcoin.
It was considered a dirty word never to be spoken.
No one would divulge their name in the story and admitted talking about it was out of the question.

Because it's a joke.

Then we have RIPPLE Incorporated's gay ass shitty little ICO premined scheme bullshit.
Which in comparison makes Bitcoin look like a saint.

The facade / charade / illusion / scam is this.. BIG BANKS ARE USING RIPPLE / ETHEREUM.

Bull mother fucking shit.

It is NOT happening nor will it ever.
So yes.. it is a fucking scam.

Then we look at it's launch................... SCAM.

Then we look at it's functionality.. SCAM.

Then we look at how it was handled after the fact.... SCAM.

I believe the US govt's FiNCEN agreed with me.
And so did crypto until.. it got pumped.

..if you "invest" in this scammy idiotic garbage then you ARE what you invest in  :D

comparing coke to technology is a terrible analogy...

...get over it ;-)

Ripple has no friends and no one likes it ... but it will be sucessful.
It's the relations they have, what makes them strong.
Big boys ... I tell you !

Banks are looking for a store of value, not a volatile something that they can createnon their own with the help if ripple company

I like Ripple! They have a good solution for banks.


spoetnik I read a couple off your post.. also on others topics..
you are so angry on all topics..

Well, Ripple will most likely do alright but XRP is in major trouble.
Now since the first one has used copy-paste of xrp's code the foot is in the door and opened the floodgates.
Every Bank will create its own token as it is the cheapest way.
Creation and maintenance is next to nothing and lots of Banks already have contractual agreement to work with Ripple and use their services.
It is plain and simply stupid to think an Indian Bank will use the same xrp as a American Bank one or a Nigerian one ......

By no means will it stop at Banks, Tokens/Coins will be as common as email addresses and the common reference point is Bitcoin the "President". Every President has a running mate which obviously must be very similar in every aspect (not from the opposition camp) and "clean" of scams.
You could call it the "Bitcoin Standard".
A system of providing and controlling the exchange of coins, in which the value of the coin is fixed against that of Bitcoin.

Banks outsource IT stuff as much as they can.
They keep only the most important data, and they have already enough trouble to keep their crap running.
Banks might not use the same XRP as we do, but they will be connected thru the blockchain of Ripple, as a service.
Or something like this.
Western Union for instance is not a bank, but doing big money business, even with a bad reputation...

If every bank creates their own token, you just reinvent the settlement problem.

If banks create tokens backed by fiat, then each token is tied to a jurisdiction and there's still a huge market in providing liquidity across jurisdictions. (This would be one possible way to improve domestic payments.)

If banks create unbacked tokens, then they have to incentivize all the liquidity themselves and we're way ahead of them with plenty of bank support. They'd have to raise and expend all the funds that we already have.

I have almost no doubt that all of these things will be tried and that some of them will be successful. Bitcoin could also gain significant market share as a settlement currency between inter-ledger exchanges locked in particular jurisdictions (the payment tech Ripple is cooperating to build will, I hope, be good for many cryptos). We think we can position XRP to compete on a level playing field.

You might also start to see more organic growth of XRP. XRP transactions are much faster, cheaper, and more reliable than transactions on any other major blockchain. And XRP has many features that other blockchains don't such as key rotation, native multisign, native support for arbitrary assets, order books, and cross-currency payments, and so on. It may not just be Ripple pursuing international payments for much longer.

Of course, there are no guarantees. These things also might not happen.

<disclosure:  I owned XRP's starting from early 2014.>
Wanting to be part of the crypto revolution through only owning Ripples is like wanting to be part of the internet revolution by buying Barnes & Noble shares instead of Amazon shares.
Wasn't the idea of Bitcoin and crypto and blockchains and DAO's to get us away from banks?
I liked Ripple, but my thinking has moved on....I want a crypto that gets me away from banks, not back towards them.
Coins like Ether, Tezos, NEM, Heat, Ardor, PIVX, Sia and perhaps even Stellar Lumens represent the current evolution of crypto software coding.  These coins too will next year be obsolete or seen as ageing.
In the future, all humans will use software-coded coins to exchange value and to conduct trade and to run countries.  This genie ain't going back in the bottle, she only gets more evolved and virulent.
Buying a first generation cryptocoin, like Bitcoin or Ripple, is like buying Windows 386 or MS-DOS 3.3 in 1990 and thinking it will serve the computer industry for the next fifty-to-hundred years.
Cryptocoins are nothing but software code and code evolves daily, so will our coins.
Move on as each new generation of cryptocoin emerges, Darwinian evolution in the flesh.  There's no going back, TINA (there is no alternative).

You miss the point entirely. Look at the Internet. The first Internet companies worked closely with the government, building a network with the government as their main customers. Was the point of the Internet to get away from government (or other centralized) control of information? Of course. The key thing was that the Internet was not a network controlled by the government.

That's what we're doing. We're getting the banks to use a network they don't own or control.

You may well be right. And if you are, the way to get there is to bridge the existing financial system in -- because that's where the money is.

Banks don't have money today because they worked hard and sweated and laboured tirelessly for every single dollar in their vaults....banks survive a la GFC, because the government gives them a license to print dollars into existence and then underwrites them with implicit guarantees (taxpayer funded).  Banks take the dollar you give them then they rehypothecate it / fractionally reserve lend it into being 10 or 100 dollars as loans to mortgage owners (you and me, who are silly enough to slave away at our cubicle farms for forty years to pay back a mortgage debt plus fat interest) or as loans to businesses (who use lawyers to pass the buck to bag holders, a la Bernie Madoff).
So yes, banks have lots of money TODAY to potentially path into crypto currencies....but will they?  ....can they? .....given how they need to externalise their problems onto bagholders.  This ship will sail.
Banks are a 20th century legacy idea, 21st century will replace banks....with something like cryptocoins or their successor.
Banks are an idea whose 'use by' date has arrived.

"The key thing was that the Internet was not a network controlled by the government."
Visited Turkey, Iran, North Korea lately?
The government did not think of the ideas that gave us Facebook, Google, Uber, bitcointalk.org, Wikipedia.....your favourite web business/site.  People, us, we did that.
If anything, government kills or hobbles or undermines nascent industries.
Arguing that government is an essential ingredient before you can make something new is to suggest that progress can only be assured by centralised states like Orwellian ones.....e.g. North Korea, Syria, past versions of Communist Russia / China, etc.  Ummm, when was the last time any of these pro-government models made your life better?
Ripple might try to be clever and co-opt the engine house that modern banks might be....but 20th century banking is an inherently compromised model that Darwin will not suffer to continue....banks as constituted today will be superseded by an animal fitter to adapt and thus survive.

I bought some Ripple yesterday in the dip - only a few - and I noticed that most other cryptos went up except for Ripple which is still down. I am not sure if I should hold it for a day or two or just dump at a loss and buy into something like Stratis or ETC which still has some leg room for growth. I noticed though generally there is a real love and hate relationship with Ripple due to the banking situation.

Hold it will go back up

@blacque
Agreed !

I also don't see it happening.
I've eluded to many points over time.

What it boils down to is Ripple employees can SAY what ever they want.
Then idiots here get to go buy XRP at Polo.
That is what is happening.. for years now.

In other words i can make a coin called "Bring Down the Govt"
Premine all of them then send some of them to Polo for the morons to buy.
Then.. just keep posting news that we are in talks with groups to bring them down.

Lots of ways to look at this but the idiots out there.. are idiots.

If XRP is not going to be technically used by banks then what happens ?
Sounds to me like we have a company called Ripple inc luring children on Bitcointalk into buying 100% premined coins to further a corporate agenda.. selling some block-chain / ledger type shit to a bank.
now..
Does that in any way shape or form sound like shit we're interested in ?
Investors ?
Well ?

I can't agree more with you. And i am a supporter of the Ethereum platform and hope more and more innovative programs can be developed based on this platform.  ;D ;D

It is clear a lot have not understood or come to terms with the decentralize progress at work.
I dont need a Bank or Politician or anyone else to tell me what to do.
Technology is available now where i can upvote on all the things of interest to me.
Now with economically sensible Micropayment possibilities available soon upvoting will be taken to the next level.
You don't share the CV or email address with just anyone, why would you do so with tokens/coins?
A private Blockchain instantly verifiable proves my creditworthiness.

You don't need a bank? How do you pay all day?
I use my bank everyday, most people do.
I don't see a change in 10 years.. Thats why I still believe in Ripple.

I see a good future for some crypto. But They can't change the dollar or other value.
Maybe a little..

Ofc we use banks everyday, there was no other choice! until a few years ago. Blockchain is not mainstream, YET!, and it will be harder to make it mainstream with people backing up Ripple (not even a blockchain, shame on it) and any organization helping banks to once again rule over this new tech. Thanks for being so naive and only seeing profits once again community.
Anyway, blockchain is stronger than that, in time you will see that ripple was never a good intend company nor investment longterm.
Enjoy the short term hype while you can.

Laughing at this sentence. They wont control it, but Ripple will, see any difference? both are centralized, so no difference at all.


This guy is being paid by ripple, yet you choose to follow his advice other than people who are trying to fight the corruption. He even has a Gaben-like photo. All he cares is for money, not us just like Gaben. Throw it at him if you will. Ripple is a shame for the cryptocurrency world.

Do you know who Ripple founder is?

After years Ripple is still in business.
Maybe you don't like the banks or Ripple, but they have a very good solutions for banks.

We see it in a couple of years...

They might, who knows, have not seen anything yet, I just wont support it.

Banks and central financial companies are the reason "someone" invented BITCOIN.

If you think centralization is the future, then go on, bet on Ripple. Everyone has its own opinion, I am just giving mine.

I can't refute a conclusion. Why do you think Ripple will control it?

I would also add that at the moment, bitcoin is also far more centralized than I think most people would like. Its design makes miners stakeholders, and that is inherently centralizing because someone will have the best ASICs and the best price for electricity. Worse, miners interests are averse to the interest of other stakeholders because they want high transaction fees. (I'm long on bitcoin and a big believer. I don't think this is a disaster or deal breaker.)

Ripple is by no means perfect. But in a fair and realistic comparison to other technologies, I think it easily holds its own. You can really only make the kinds of arguments that you're making if you still think that anyone can mine competitively and that governance is not needed (as many people, including me, did back in 2011). But if I want SegWit and you don't, someone has to win and someone has to lose. And without governance, you get paralysis or war.

You have a fact followed by a bunch of insults. Pretty much everyone in this field puts their money where their beliefs are. If you think Ethereum will take over the world, you probably think it's smart to hold some Ether, and so you do. So how can you tell who is being honest and who is just a shill? Easy ... look at what they're saying.

Can they honestly acknowledge the weaknesses of the systems they like most? Do they make reasoned arguments rather than stating conclusions? Do they defend their claims when they're challenged? Do they change their mind when new facts come to light?

I'm not just being paid by Ripple, I was there from day one building the company. The day it no longer reflects my values or I no longer think we're working to make the world a better place, I'll go do something else.

Damn so ill have to remove myself from stellar

Ripple has a ripple in its own network due to these other said persons ideas coming into play.

First of all I didnt insult, I stated some facts along with some fun. If you find it offensive then bad for you.
Second, I dont lie, I really hate Ripple and i think it should go to 0 asap, same for Stellar.
Third, not even a blockchain and it is centralized.
Fourth, do you guys know who was the founder of Ripple?
Fifth, do you know who was the founder of MtGox?

Well according to this: http://www.cnbc.com/2017/05/23/r3-funding-blockchain-intel-bank-of-america-hsbc.html (http://www.cnbc.com/2017/05/23/r3-funding-blockchain-intel-bank-of-america-hsbc.html) Goldman Sachs and Santander dropped out. It's far from a done deal as to the outcome. Ripple and R3 may both have value. Time will tell.

Also, your point about banks investing in their own ILP... that doesn't really convince me. The difference is that instead of paying fees to Ripple, they're going to invest hundredes of millions up front to develop their own solution. Surely it will still require usage fees and ongoing upkeep, no? Why do you think oil companies contract out the drilling and well servicing, when they could just own the drilling rigs and all the equipment? In most cases it makes sense to hire out vs dealing with all the overhead and ongoing costs.

To me it makes a lot of sense that banks would sign onto a solution that is ready, working, and ISN'T controlled by their competition, but is a neutral 3rd party.

It's not about whether I find it offensive or not, it's about what it says about your motivations.

Not only do you hate Ripple, but you're entirely unwilling to discuss or examine the claims that have informed your beliefs.

It is, literally, a chain of blocks. As for whether it's centralized, *every* major blockchain currently is to some degree. (Right now, if China made it illegal for a miner to build a block on top of any block that spent particular UTXOs, those bitcoins would be effectively frozen) Ripple, at least, has a plan to improve decentralization and a technology that doesn't inherently centralize. You are completely unwilling to discuss these actual facts.

Do you know that Ripple has gone to court with Jed several times? Ripple now has custody of Jed's XRP to prevent him from making threats of, or actually, dumping XRP on the open market And did you notice a huge change in Ripple's behavior after he left?

Jed left MtGox long before it failed due to insolvency. He did still own some percentage of the exchange (12% I think). I probably know a lot more about Jed's connection to MtGox than you do, and I have no idea what responsibility, if any, he has for the failure of MtGox.

Like what not knowing a fractional reserve in operation where you work and own stake ?
Fractional reserve ? Like banks ? LOL

Gimme a break ..this guys spews so much fucking bullshit it's not even funny.

He loves to claim he doesn't know anything yet says the opposite implying he "knows things"
Which is is it Joel ?

Being the only employee who speaks here you'd think you WOULD know what is going on.
For example when you claimed to not know why 333 million was dumped on the market
..you showed up to put the fire out and claim "they had a good reason"
..you just didn't know what it was.

Even though you are a Ripple employee.

And you got balls muttering shit about "Motivations"
Like what maybe you being here with a SIG that says you are an employee of Ripple ?
That kettle is black baby ROFL  :D

And, again, when the nonsense you spew is countered with facts, you simply move on to spouting more nonsense. I'm done playing your game.
https://image.slidesharecdn.com/bulshitasymmetryprinciplelightningtalk-140826150720-phpapp01/95/bullshit-asymmetry-principle-lightning-talk-10-638.jpg?cb=1409155873

I think ripple is not in trouble as speculated by the op. Every currency has there pulling face for proper advancement and progress. Ripple is currently in one of those faces. When ever I analyse ripple market capitalization, I always see a coin that will be great in future.

everyone knows that didnt happen like that. Dont play stupid.
why do you keep saying that i am not willing to discuss? I am leaving this thread. You have some degree of... retardedness?
as I mentioned, time will prove me right.

You can read his own words and see his verbal gymnastics..
He always knows.. but well doesn't know.

Always seems to be posturing for cred so you can take his word for it but then won't say anything.

Letting Jeb off the hook because he didn't know ?
Uhhmm no.. i knew when i showed in crypto in 2013 and seen the side effects of a fractional reserve in operation.
Yet a guy who WORKED THERE and owned a 12% stake had no idea ?

That is the same as Cryptsy idiots saying they had no idea there was a problem.
Ya you did fuckheads.. you knew because the people was screaming and bitching non stop.
And the transfers were insanely fucked up.

When i got in crypto i heard on DAY ONE people waiting months to get their Bitcoin.

This guy is full of fucking shit .

Holy shit, man. This doesn't even matter. Ripple's gone to court to stop Jed from dumping. He's only connected to the company historically. I don't even have a dog in this fight. The worse Jed is, the better it is that he's no longer connected to Ripple. The better Jed is, the better one of Ripple's founders is. It really is a wash.

And what do you think I know? You think Jed confided in me that he knew MtGox was running a fractional reserve? Why the heck would he do that? And if Jed protested his innocence to me, why would I believe him?

I stated all the facts that I know. You seem to think somehow I would have inside knowledge to Jed's relationship with MtGox? Why the hell would that be?

It just seems that no matter what I say, you feel obligated to both disagree with me and insist that it's somehow a big deal that validates your opinions about Ripple.

Agree with you with a good market cap it should have a great future. Still it is in a top of coins, so will see it is just a matter o time :)

Yeah that is right. Time will answer us everything. Ripple is good

why bother even engaging. this guy has his moments, but let's say he always comes at things from a very particular angle that won't change no matter what is done or said.

I guess I can't help myself. I joke with my wife about being unable to leave my computer because "it's an emergency -- someone is wrong on the Internet".
https://xkcd.com/386/

https://www.jelurida.com/jelurida-public-license

This guy sounds legit. I guess I'll get out now.

Banks were never going to use the ripple currency they were always only interested in the blockchain. Using a speculative asset for transactions makes zero sense to a risk averse bank. The reality is that ripple is a speculative asset and has no real use other than minimal amounts to prevent spam attacks on the network.

And you and the Ripple employee here?
I see the same shit talking frauds here defending bad..
I was last here telling both of you that you are full of shit..

All you guys do is play dumb and fuck around..
Because it pads your wallet.
.. Not mine.

I last simply pointed out how everything that comes out of Joel's mouth is waffling Ripple damage control bullshit.

What does it matter he just says?

It matters when millions of dollars are at stake and the players in control are provably deceitful.
Being heavily associated with GOX and then pretending you had no idea big problems were happening is not gonna fly.

It doesn't matter what people think of me.
The same idiots are here spewing BS.
Read it for yourself.. Don't take my word for it.

This is the money post and what it all boils down to in the end

Can banks go it alone and get the liquidity themselves to make their own ripple-like blockchain system work?

Or can XRP gain enough liquidity (through crypto markets etc) to make banks want to use it?

Its almost like a chicken and egg problem. It makes XRP somewhat dependant on liquidity from crypto investors...many of which don't want a centralised system...which is why crypto investors invest so heavily in tech's like bitcoin etc as it is

It seems your assuming that XRP has its own source of real liquidity beyond crypto investors too, perhaps getting banks to buy the XRP tokens.... But if the XRP tokens come at a high price, it incentives the banks to group together and make their own, cheaper system.

Another important thing: Could it be that the banks don't need to have a real liquidity amount in their ripple-like system to begin with? They could just make up an arbitrary token in cyber space, with no actual sellable value in dollars/fiat. And then fix that at certain rates to fiat..and then use that.

So, liquidity doesnt have to be an issue at all. Liquidity isnt required because the token for inter-bank payments can just be fixed to fiat amounts to keep things simple, and with no dollar re-sell value. Banks can just use a fake token and peg it to fiat and use that for inter-bank and cross-border transfers. Who says the token has to have any value? Your making a huge huge assumption there.....

It obviously saves the bank money if the token has NO value, instead of having to fork out and deal with a volatile token price on the open market

So....it seems like Ripple is trying to sell a concept to crypto investors that doesn't necessarily have to be the way for banks. Not to mention that crypto investors dont like centralised stuff. The nonsense that miners make things centralised is false. The open market determines the price of tokens and not the miners. Whereas by XRP keeping control of a huge chunk of the supply of XRP, they can manipulate the open market at will.

There has to be a clearer roadmap shown for the XRP concept that can convince crypto investors why a bank will want to use it. Because tokens (like XRP) for inter-bank payments dont need to have any value. You can just make the value up if the consortium of banks are in agreement.

-----

Last thing, as for banks using the quickest and easiest way, it would seem to me that the quickest and easiest way would be to bypass the liquidity issue altogether and peg cyber tokens (with no dollar value) to fiat. And then use that. Why does the cyber token need to have any money value whatsoever? Why does the XRP have to have any monetary value? It doesn't.

Banks can just as easily make their own tokens (with no dollar value) and peg that to fiat. Which is what groups like R3 could very easily do

------

I wont deny that ripple has a great team and can get things done..and it has a proven track record and there's so many VC firms investing in it, that they clearly saw a lot of light in the idea.

And btw, just as full disclosure, I did make some money from XRP so I have made money out of it, but seems ripple doesn't have to be the $100bn+ market cap beast that people initially thought it would be. It can have a place in the market for sure, but there's still huge questions and uncertainty when questions like above are asked

So...clarity there would be super helpful

The guy is making sense with the technical criticism.
I wonder if Joel will address it directly.

Myself I veer towards the meat & potatoes of it all..

I have issues with the ideology for starters.
And the handling has been sketchy too.
Which has been brought up then ignored.

Has Ripple Inc been honest & transparent and accountable?

They know it is this forum that made them yet have no none but Joel slinging poor excuses?

Want a list of bullshit stunts Ripple Inc has been behind?

I don't understand what you're suggesting. If the token has no dollar value, what purpose does it serve? Do you mean it merely keeps track of who owes what to whom? If so, how do you settle those debts?

And when you say "peg that to fiat", do you mean to have one such token for each fiat currency? If so, how do you provide cross-currency liquidity? Or do you mean to peg one token to more than one fiat currency? How do you do that?

I think what you might be missing is that the main issue is moving actual value between islands of liquidity. How would a valueless token move value between, say, Europe and India?

The kind of system you're talking about (if I understand you correctly) is great for domestic payments and very similar to what many countries currently use. It doesn't move value though, so it doesn't help much with the problem Ripple is targeting.

I have a small bag of RIPPLE and lately there is a lot of bad press about it even on POLONIEX trollbox so I am also wondering, do I sell it at a loss or do I hold in case it has a revival? I hate selling coins or token at a loss but a bit of sound advice will help.

A little reality check
https://i.imgur.com/9mQkNdz.png

Apologies if this is a newbie question but isn't Ethereum very similar to ripple? Ethereum is the technology/network adopted by some banks and corporations but Ether, the currency, is not?

You would have one token only - say R3 token which has a fixed rate to each fiat currency.

Examples:

1 x R3 = $0.25
1 x R3 = £0.20

The same way that 1 x XRP currently equals $0.226

The difference though is that R3 isnt a sellable token on any open market exchange or outside a banking system. Its purely an agreement between the banks to keep track of who is sending what and who is receiving what.

Nobody has to "pay" anything to buy the token itself, yet it can still transfer liquidity across "islands"

There would be "value" for lack of a better word in the token because it's pegged to a fiat amount, but its not sellable outside its immediate function.

This is the ideal way to save banks money, plus reduces volatility by stopping outsiders manipulating the price/supply etc.

Why the bank should have to pay for a token that the bank itself has made doesn't make sense. If the banks all agree to use a middle token then that will be that...no money has to be involved in "buying" the token.

What ripple is doing with XRP is selling an open market token to the banks..but the banks dont need to use an open market one...surely they can use a closed-doors one? Why does the token that banks use have to be open market?

Which is where stuff like R3 and ripple being open source (+ other techs) makes the xrp offer less attractive

That's not possible. The various international currencies change value with respect to each other. While these changes are typically small, so are the costs and profits associated with payments.

They already have this. They just do it for every fiat currency. The problem is that it doesn't actually move value. So it requires a separation between payment and settlement. The problem we're solving is the actual movement of value.

Because only a token that can be bought and sold has actual value and therefore can serve as an actual means of settlement. Imagine, for example, a European banking hub that needs to settle with an Indian banking hub. Market makers in India might well be willing to swap Rupees for XRP if they can use those Rupees to pick up Euros for cheap or use them to fund their own extraterritorial payments.

For sure banks will do these kinds of things, but I think XRP is well-positioned to compete with them. In particular, XRP is well-positioned to bridge these jurisdiction-specific and currency-specific domestic payment schemes.

Yes of course I mean the numbers will change with respect to each other

E.g today they may be:

1 x R3 = $0.25
1 X R3 = £0.20

Tomorrow they might be:

1 X R3 = $0.21
1 X R3 = £0.22


When it comes to fiat, value isn't a real physical thing. Its just an arbitrary concept based on what people believe is true. It is based on consensus and expectations. Perhaps a better definition of what you mean by value might help, because value isnt this concrete thing you're saying.

To move so called "value", all you have to do is put a minus on the sending side and a plus on the receiving side..that's all there is to it.

If I want to send $10k from India to USA, its a 10k debit in India and a 10k credit in USA.

However you want to track that (using a token) doesnt mean you have to buy the token as well in order to "settle"


I think there might be confusion as to what we mean by value. Value is based on consensus and expectations and isnt fixed in stone. Especially when it comes to fiat. If all global banks make an agreement that they will use R3 token (pegged at whatever rate, which varies as mentioned above), then that serves as the means of settlement as well.

I could use R3 token to do the same thing as what you propose, without their being any sellable value of itself, outside its immediate function of tracking who is owed what


I see...it may come down to the way the proposition is positioned at the end of the day. Because positioning is of course important. I dont see banks being dumb though and if they have an R3 option sitting there (where they dont have to pay to buy the token, and there is no volatility from open market prices) then that can change things and compete with XRP effectively

For a coin you guys really want to see bubble, it's very resilient  :D

No, that doesn't work. Eventually you wind up with a big positive number on one side and a big negative number someplace else. Then the guy with the big positive number needs to wire out money on a domestic payment system or some other rail, and he doesn't have any money in that other payment system.

That doesn't actually settle. It just tracks debt. The entity that owes the money eventually has to settle the debt with some movement of actual value.

I don't see how that would work. Say I'm the only bank in the US that uses the R3 token. I have a billion of the R3 token with a value of one billion dollars US. Now one of my customers wants to make an ACH payment. What do I do?

Or say the US payment hub has way more R3 tokens than the Japan payment hub. Now what happens when people in the US payment hub want to move their dollars out of the payment hub? Where does it get the dollars from to cover?

You can use this as a single-currency payment system and as a way to net out opposite flows. But it still leaves you with a settlement problem. The case for a crypto-currency for global settlement is very strong. Of course, what fraction of that market XRP will be able to get is an open question, and it's Ripple's (the company) major focus.

I see far too many problems with Ripple.

For one thing they want XRP to work with "Big Banks"
But i have said all along they won't be buying XRP premined coins.
In an unregulated scam coin scene.

As much as projects like Ripple want to exclude themselves from the scene.. they can't.
It's still a fucking Altcoin !
A shady ass sketchy premined / ICO bullshit one to boot !

Are banks willing to integrate into a coin system that is unregulated ?
Nope.
This screams risk to them.

Let me put it this way.. during the housing market crash there was bail-out's.
Who is going to bail-out Ripple if it's needed one day ?
You think trillions will flow from the US govt to Ripple inc's scammy inept hands ?
And if it's not possible to bail them out ...then it's a risk.
A financial risk for banks.

Why do they need to buy XRP from bag holders ?
When they have so many other options available.
Are you guys forgetting what is already setup + being used right now ?

How is some crypto premined / centralized shit going to beat Interact eTransfer for example ?
I can send someone money ultra fast.. almost instantly.
It costs 50 cents and then i click a link in my email.. done.

Jeez Joel put the Kool-Aid down and get some fresh air.. you are brain washed !
The rest of the morons here are stupid dreamers.. naive to the reality of it all.

I'm also new to this forum.

I find a lot of sense to your question, it seems nobody has an answer.

Ripple is, as Ripple themselves happily state, a solution for banks to exchange things with each other. 
Bravo.
Problem is, in the 21st century, seven billion humans are now starting to realise that we can exchange value (in other words, socially-agreed-to consensus, much like a US Dollar exemplifies) and trade with each other directly, peer to peer, without needing a bank or government in the middle.
Ripple hoping to fuel the continued health of the historic banking model into the 21st century is like a grower of hay hoping to fuel the horse industry after Henry Ford starts selling the Model T Ford.
Email killed stamps and envelopes and the postal authority.  Blockchain crypto currencies will kill banks.
Ripple's destiny is pinned to banks.
Does Ripple have an assured future?
Twenty, forty, fifty years from now, humans will send cryptocoins to each other over a blockchain as our way of keeping track of whom deserves what.
Why do I need a bank for that?

---

Same, same, but different.
Ethereum is a full blockchain.  It is an immutable historical record in that it is a chain of linked (inter-dependent) proofs (mathematical calculations in the form of hashes) that cannot be easily undone (spoofed, impersonated, recalculated in a corrupt way).  Each current change in our balances (e.g. you send coins to me) requires a transaction that then is evidenced (the nodes reach consensus again) after a bunch of hashing calc's are performed by nodes so as to agree to a proposed update to this inter-linked historic chain of crypto calc's.  The participating nodes constantly re-compute this blockchain so as to arrive at certainty that they can 'more safely' agree to a new consensus about this chain, and this forms then the new consensus that you rely on when you look there.  The trust is because of the amount of maths performed by the peer nodes.
Ripple is a consensus ledger.  It updates an ongoing ledger of any changes, e.g. add some coins to my account entry, subtract some from yours.  There is no blockchain with crypto calculated proofs chained to each other in intricate crypto fashion that requires huge amounts of mathematics to compute from scratch.  Instead, in Ripple the maths and CPU cycles are used for the work of just updating that shared ledger (recalculating this consensus ledger as each change happens to this central ledger, when you send coins to me).  In Ripple you are invited to trust the latest ledger you are offered, there wasn't a huge bunch of block hashing crypto calc's performed (as per the blockchain, ethereum, bitcoin model) that you can now derive a sense of safety from.
At a practical level, in Ripple you as a peer client don't need to download a blockchain if you want to verify the proof of a historic or recent transaction;  instead you trust that the current round of consensus calc's (the current ledger) is a correct up-to-date reflection that has the correct current account balances for us all.  In Ethereum you can inspect/re-verify  (re-calculate for yourself, from scratch) the whole chain for any transaction anytime you need to.
<just my niave understanding, I am not a crypto expert>

---

The question you may have also been asking is, why do banks seem to like Ripple more than, say, bitcoin or ethereum?
Given the way that Ripple is just a constantly updated consensus ledger, this echoes the way that banks work internally:  banks don't care where each dollar bill came into existence in the distant past (was this stash of dollar bills once used in a cocaine deal?  Was this stack of bills used in human slave trafficking?  Did this stash of bills come from Bernie Madoff?), banks only want to know the current state of the ledger.  So a blockchain is, potentially, an embarrrassment to a bank:  ideally they don't want for you to be able to self-calculate from their blockchain where all those dollar bills came from.
The pernicious side of me also suspects that banks want the ability to manipuate the consensus ledger 'after-the-fact', should the heat get too strong again, one day in the future:  "explain to me, all you banks, how you managed to lose all our money, again, a la GFC?  Show me your historic blockchain ledger so I can self-calculate where you sent all those funds....."

This is quite an interesting reply so thanks for this and taking the time to answer......

Settlement then appears to be a complex thing, because the whole financial system is complex and not as simple as it sounds...settlement also appears then to be a mathematical issue

So what you're saying is using an R3 token with different links to fiat doesnt actually work because there's still a settlement issue, and a liquidity issue, based on the way the mathematics of the transactions work. If I transferred dollars out on a valueless token, it creates a minus on one side which still needs to be filled with something.

Banks using their own token across different fiat pairs (and multiple tokens for different fiat pairs) would also actually take more liquidity than just using an XRP token for all fiat pairs, which has (or will have) the necessary liquidity already, to actually transfer "real value" in terms of being able to fill the void when a minus or plus is created on either side of a transaction

I think if what you're saying is right, it means even if banks used their own R3 token, it would only work if it had enough liquidity and enough people were on board. And by that, I mean not just banks on board, but other financial institutions, intermedaries etc

So, that would tell me that XRP is still alive..unless im missing something

I agree that banks might not jump into XRP without regulation of the whole industry...all exchanges that trade XRP will have to be regulated etc

ı thınk rıpple ıs one of the bıggest scam. that prıze manupılatıon ıs not normal. some guys earnıng mıllıons of dolar from rıpple and may be bıllıons of dolar. they are tellıng banks wıll use rıpple . banks can use only tech of rıpple not the coın. they dont want that kınd of prıze manupulatıon they dont want to send money by rıpple. ımagıne bank ıs sendıng 1000 dolar as 100000 rıpple after translactıon ıt becomes 500 dolar because of market :D

as opposed to... ? you also described bitcoin.

what price manipulation? are you referring to the rise/falls of the market which you might perceive to be "drastic"? any/every market in this world is also manipulated to some degree. ripple is doing everything within compliance to the industry they're working with (finance). your problem is comparing them to something that is entirely different. markets are rigged, not necessarily the company themselves (in this case). i say this because you don't understand how much compliance is needed within finance. to say they're a scam, is to overlook every rule they need to follow to even operate as a company. do you think they'd have partnerships/customers they have if they were a "scam"? please jump off your crypto high horse and GTFO ➡️

Its market capitalizatio is to be altered... supply is unknown, how much of it hold by who is unknown...

does not even worth 1 billion dollars.

Many of the "available" coins are looked by contractual agreement (given free to Banks and partners)

To be clear, that is the use case that Ripple, the company, is currently pursuing.

Exactly! And to get to that great future, we need a phenomenal bridge between where the money is now and where the money will be in the future.

Right. The horse industry could have pivoted to survive in an automobile-based world. You can sort of argue that they did. Similarly, music companies could have reigned in a digital music world, they just didn't. It's certainly possibly that banks will die as the economy changes with new technology. But the smart ones will try to hold on as long as they can by improving services and cutting costs. It's certainly way too early to say that there's no business model around modernizing banks. They're handling trillions of dollars worth of payments today and right now that's still increasing. We can certainly pivot again in the future.

Today, yes, because we think that's the best use case to target today. After all, banks have lots of money and handle trillions of dollars worth of payments.

And Ripple will have nothing to do with banks in that future. You don't turn the wheel of your car because there's a curve 30 miles ahead. We're quite agile, we've pivoted before, we're aimed at where the money is now, and in twenty years, we can pivot again. Of course we don't have an assured future. But we'll do our best to keep aiming at the best targets.

There are really a few pieces here:

1) There's ILP. We hope that will provide the bridge between different ledgers that record value. Those ledgers can be traditional banking ledgers, they can be decentralized public ledgers, ILP doesn't care. This is what avoids us all having to transact on the same system.

2) There's XRP and its ledger. This is a system that permits pseudonymous transaction in a native asset. It doesn't have bitcoin's liquidity or value yet, but it does have support for higher transaction volume, faster confirmation, and better security. We've worked to make XRP integrate with ILP extremely well through native support for escrow and payment channels.

3) There's Ripple's business improving bank's payment systems. We're getting our software into the transaction flow of banks. This software supports moving the underlying value using ILP.

Given those three pieces, our strategy is to work to get some of those bank payments bridged through XRP. If we succeed, but banks become less relevant, then the endpoints will just change from bank ledgers to non-bank ledgers.

We're in the very early days. During the early days of the Internet, much of the work was done by the government. And much of what attracted people to the Internet in the beginning was its connectivity to existing media companies. The important thing is what you're building and what properties it has. Yes, in the early days, the key users will be the same as the key users of the previous technology. But if the new system is inherently accessible to all and fundamentally based on open standards, the world can change for the better.

So.. why did it necessitate premining the coins ?

How is it that Ripple inc is going to beat any and all other solutions possible for banks ?
What is the big advantage to Ripple and the premined coins ?

I recall "big news" with Ethereum way back.. supposedly IBM was "using" Ethereum.
They would not shut the fuck up about it on Poloniex troll-boxs so i asked some questions.
Immediately i was rampaged on and insulted with mod's jumping in having a jab at me.
Eventually banned for "FUD" of course.

So..

I asked.
I said to the lead spamming shill-tard, so are the coins connected to the coins on Poloniex ?
He said no.
He said it was an internal network experiment they were running privately.
So i said.. oh really then ?
Well then.. what good is it spamming that news on the troll box in a deceptive manner then ?
Mods then jumped on me hard and random guys started insulting me.
Scammy deceitful lies posted to lure in idiots sanctioned by Polo staff.

Then *again.. i told the staffers at Polo they were simply grooming their victims.
And never get in the middle of a predator and the victims he is grooming.  :D
They don't like that one bit !

Fast forward a little while and i noticed they simply stopped all chatter about IBM.
So i asked and said uhhh.. WTF ? why did you guys stop mentioning it ? What happened ?
I was told by the same shill-tard's whom i suspected where hired by the Ethereum team to spam..
That IBM had discontinued their private experiment and had chosen to create their own system.

Now boys & girls do you understand why i just brought that up in relation to this topic ?

Oh and if you don't believe me the data should have all been logged in Polonibox.com.

Anyway.. i am curious.
Joel how many XRP coins did the company give you ?
How much are they paying you ?
It says in your SIG you are an employee. (not a volunteer)
So i can't imagine you would come here to admit there is problems with XRP and still expect to keep getting Ripple inc pay checks.

Oh and i wonder if you get more than Ripple spent on paid votes at Cryptsy to get added.
I watched as XRP sat on the TOP of the voting list all a long since it was created.
And i recall early on Cryptsy-staff didn't like Ripple (no one did) because of it's scammy premine and hand out's to friends with fancy corporate titles etc.

So.. it sat on the voting list for a year or something while Ripple inc poured sickening amounts of BTC on the Exchange to get XRP added.
They had more votes then all the other dev's buying votes in the entire 100+ coin list combined.

..yet they had a 418 page coin topic giveaway where no one was getting their coins.

This is a plain lie and easy to disprove. Look up addresses in that topic, if the forum accounts fulfilled the criterias outlined in the beginning, they got a few thousand XRP. You also tried to get some, but didn't fulfill the criteria and have cried foul ever since.

I remember the giveaway. At one point they were giving out 1m coins to anyone who had a forum account. Imagine having that amount of coins now.

No, they were not. It used to be a few thousand coins, not 1 million.

Home in in the entire giant rant i posted cut all of it away then focus like a laser beam on *SOME* users got paid ......late.

TA DA !

Ripple vindicated.  :D

Uhhhmm no. ::)

..sorry fraud's and your fraud puppets the great giveaway was not a success.
It was the start of grand Ripple debacles.
SHIT LOADS of complaints are logged.. so there is no "lies".

Ripple has had lots of drama and they always come out trying to spin it all.
Such as FiNCEN fining them.
How many other coins in history went through that again ?

0.

---

I also forgot the amount but i don't think it way very many coins at all.
I recall 10 coins but that may be totally wrong though.

Joel also previously pointed out how i posted the wrong address in here.
Not sure how i did but the post i created i guess can't lie (my old post in the giveaway topic)
Not *ALL* of us posted the wrong address though.

My point was they were more than happy to leave the topic open knowing damn well people would still keep trying long after they silently (with out telling anyone) ended the giveaway.

Each person that did that went to Ripple.com and signed up using an email and then created an address.
So duh.. you think they wanted to stop that ?
Of course they let the public think the giveaway was still running long after they stopped PAYING out !

It was in fact a publicity stunt.
Not an act of altruism by a company.

PS:
I don't want the coins either so don't bother offering people.
I refuse to ever posses any Ripple coins.
Never had any and never will !

When did that happen,why would FINCEN fine ripple and if that is true it will hurt them bad and could reflect it in the market,since i recently started trading with ripple after some major news i saw in their slack that some of the banking system will be using their technology and that news just started the rally in them and so in entered,so what is this all about,is it true that the banks will be using their system or just plain lies.

I got 35.000 XRP on time about 1 day after posting. Unlike you I was eligible though. You are free to look at their giveaway addresses (rJR7gjNe3DpJ7kpB4CHBxjDKfwVMpTKPpj is one of them) and see if you can find the addresses where XRP were sent to in the giveaway topic if you need further actual proof.

I never gave my email address to Ripple Inc. and stored my private key outside of their system too, as it was advised in their client. You were incompetent enough to actually post your private key(!) in there and were ignoring the terms under which you'd receive XRP (your account was too "young"), then complaining to this day about not receiving any.

Anyways, I agree that it probably was/is a publicity stunt and I still am not a big fan of XRP as a currency - however people around here far too often seem to confuse XRP, RCL, RippleConnect, ILP and Ripple Inc. as well as the actual idea of "Ripple" as a monetary system by Ryan Fugger with each other, unfortunately often only reducing it to the bare minimum (XRP) which is the easiest part to understand and critizise.

May 2015:
https://www.fincen.gov/news/news-releases/fincen-fines-ripple-labs-inc-first-civil-enforcement-action-against-virtual

I doubt that it will reflect in any market, since their shares are not publicly traded and they since have pivoted away from customers towards getting banks to use their ILP connector software. You maybe started trading XRP, I don't think you started trading with Ripple. Banks are using Ripple Connect, it is speculation at best if they will currently or in the future also settle partially using XRP via ILP enabled market makers or directly.

I dont think it will be major threat for xrp.

Some Banks have said they will use Ripple. In exchange for the good deed they received a few million XRP for free. By contractual agreement they are not allowed to sell them for some time.
No Bank will ever buy or use any XRP other than sell the gifted one's.
Marketcap is wrong.  Coins are listed as "available" but not freely traded (yet).
The amount of truly free traded coins is small.

The FINCEN fine was years ago.

Good information but the gifted xrp to the banks can easily dump the price of ripple and as we know the price of ripple in the past 7 days is very unstable and the exchange rate in bitcoin has been dropped to more than 50% but it's getting increased now which I really hope good things will come very soon and we see also other coins rising and see the graphs all in green.

Ripple is a ghost banks union. This assets buy from merchants for increase the market cap…Hey guys? Bitcoin,   Litecoin and Namecoin are the real democracy of cryptocurrency. Why this scam web projects are important for world? Stop this fake market: Ripple, Ethereum, Ethereum Classic and NEM are the illusion for stupid investors!

you consider 3 mining pools controlling 51+% of btc a democracy? 😂

I think ripple have a bad time coping up since the price of BTC is becoming higher and higher. Let's just give ripple some time in going up again. Let's make ripple Great Again  :) :) ;D

I think the main gripe people have with ripple is that ripple has kept a lot of the coins for itself and is using a BIASED system...its not operating under free market principles.

If all the XRP were freely available through an ICO at the start or something, then that would shift people's opinion on it

Ripple is using a BIASED system...it doesnt matter if the XRP concept actually works or not

Crypto investors know its a biased system that helps incumbents in the financial industry

And as we all know, the financial industry is corrupt and rotten to its core.

So, there is literally no wonder that so many people are vehemently against ripple

Crypto investors looking for a quick buck are investing in ripple not knowing they are sheep walking into the lions den and supporting the corrupt bankers who have:

- overinflated house prices globally with a huge ponzi scheme that is totally unsustainable

- lost trillions in dollars in the 2008 crash and crashed the global financial system already, having to be bailed out with government funds to the tune of hundreds of billions

- charging interest and making profit on money that isn't even theirs to begin with! Banks were designed to be trusts, not profit makers. By attempting to make profit from other peoples money, they ended up collapsing the whole system! The banks arent actually trading..they have created a ponzi scheme where they have to keep lending in order to generate more funds

- having closed door investment systems. Bankers invest in IPOs and give private equity to startups...they deny the average person access to real investment opportunities to make money. With crypto ICOs, anybody can invest in a startup and make a fortune

Yes people investing in xrp can make a quick buck (and ive made a lot of money from ripple too..I wont deny that)...

This nonsense though that by evolving banks through digital payments, we make finance better is like saying if I use a sharper knife to murder someone, it causes them less pain

The bankers are rotten...everybody knows that...corporations in their nature generally can be rotten..look at pharmaceutical companies for instance...hiding cures for diseases just to make a quick buck. Look at companies like walmart and tesco - selling 90% junk food, full knowing the crap they sell will cause a lifetime of heart disease, obesity, cancer and strokes

Banks are the most rotten of the rotten...the people who have sold themselves to the devil and are masquerading as saviours of the world. Most people are brainwashed to just follow what big brother and the larger system says.

The point of crypto is for the people to re-gain the power...so that bankers cant play their ponzi scheme any longer.

Anyway, this is saying nothing about the concept of XRP which may indeed be valid. But in terms of criminality, living life as the devil and being the most crooked most corrupt of organisations, nothing can pretty much beat the banks.

I think you are full of shit.
Show us the post maybe..
Back then the only option was to sign up on the web site and login that is how i KNOW you are lying.
There was no other option back in mid-2013.

And google search FiNCEN + Ripple ..you will find lots of info on it.
The shills though and Joel etc simply spinned it all so they weren't in trouble with the public..
FiNCEN shit on them and they dropped to their knees sucking cock hard.
They had to make radical changes which has what now to do with how it works today ?
What was their ORIGINAL PLAN ?

Spin that crooked frauds.  :D

Funny how Ripple assholes claim this is the idea yet they had to change the "idea" after FiNCEN went after them.
Another contradiction that shows their are waffling bullshiting con artists.

Hey wanna "invest" with crooked douche bags in crypto then have at 'er guys.
Any scammy ass bullshit becomes legit if you hang around long enough and cry "FUD" or "Troll"

Reality.. Ripple the premined centralized bank bullshit is a fraud.
Their track record is dog shit and their shills are paid losers.
There was a topic i seen in 2013 that had a guy asking..
Who are all the people listed in the corporate about page and why did they all get so many free Ripple coins ?

Want to talk Ripple history ?
Don't motivate me to get on the Wayback-Machine cocky smug little fucking Ripple pricks.

PS:
When they stopped the giveaway they should have said something and locked the topic.
Not a year after the fact luring in more people to get involved for a few cents worth of coins.
That *IS* deceptive.
Which is a decetful stunt.
And who ran the giveaway ? Look yourself at the account name..
https://bitcointalk.org/index.php?topic=145506.0
Posted by "Ripple Labs"

And there were other giveaway topics (see via Google) posted too but that one was 417 pages.

The concept of "premining" is not applicable to coins that aren't mined. And, in any event, it's quite clear now that PoW isn't the magic equalizer and decentralizer that we all hoped it would be back in 2008-2012. There is no sense in which it is morally superior to give coins needlessly to those who waste the most electricity over those who built the system.

We've explained our strategy. Why would you ask us to explain it again exactly?

The big advantage to a coin where the creators keep the vast majority of it is that they can use the value of the token to incentivize the provision of liquidity. Nobody has that kind of ability with things like bitcoins because nobody holds enough of the value.

A long time ago, when XRP was essentially worthless, the company gave me one million XRP. Also, I participated in the first XRP giveaway on bitcointalk (at that time, there was no rule prohibiting employees from participating) and got 50,000 XRP. All other XRP that I hold, I purchased on the open market.

They are paying me a market rate, comparable to the offers I've gotten at other places. I don't think I need to disclose my salary to you.

I am happy to admit real problems with XRP. I have no need to lie or be deceptive. I'm happy to engage arguments head on and honestly disclose our weak points. If Ripple doesn't want to pay me to be honest, I'll find a job elsewhere. My integrity isn't for sale.

I don't know what you're talking about, honestly. I have no knowledge of Ripple using XRP to induce Cryptsy to support XRP and doubt that they would have because that's just wasn't a priority for us back then. But if so, I'm not sure what you think would be wrong with it.

The record is public. The last time someone (maybe it was you, I don't remember) said this, it was thoroughly debunked. I've gotten several emails and private messages from people who participated in that first giveaway describing things they were able to do for their families with the money.

@Joel

You mean my specific case in the giveaway was debunked.
That does not constitute "thoroughly" in my books buddy  :D

You have some shill-tards show up to chant "lies"
then claim i myself posted the wrong address but that does not clear all the others that complained.
Nor does it refute the last post i made and keep harping on that you repeatedly keep ignoring.

AKA: Playing games as usual.

You focus on one weak little thread you *think* you have then ignore the rest and tug and spin.
It will not get you anywhere.

So..

How much was it you got paid again ?
Oh and i am trying to let the other guy tear your ass up.. it's more fun for me LOL
I'll step aside for him  ;D

That's your opinion, not mine. Trouble is because trader not disciplines, too high take profit and never use stop loss. Every altcoin have different supply, demand ad speculation, of course, they have their own rules. We just follow them, simple meaning is they create market and we follow market. Depend your analyze if ripple is in major trouble you should stop buying their coin and replace your money into another altcoin, that's simple bro. Every altcoin has risk and profit, be careful with your money. Have a nice day.

By the way..

If you looked at the link i posted for the giveaway you would see in the very first post..


SO..

How did that guy claim he got 35,000 coins ?

Maybe he was an employee or bounty collector back then or something.
His comment does not hold up to scrutiny.

I'm telling ya guys.. these are slimey ass fraud's.
Want to get in bed with "Big Banks" and their centralized corporate coin ?
Go for it.. i won't.

I know this was not about a giveaway though so i don't want to keep harping on it.
I value morality over profits.
So when i see a coin "team" pay themselves then act shady all over crypto for years.. then yeah..
I think "they are in trouble".

Even if they are on their best behavior for now on i think their sketchy past and poorly thought out future plans will eventually unravel.

I don't see any point to this shit coin.. so yeah i see a problem with it.
They know though if they are persistent they will get your money.
All you have to do is launch some crypto scheme then keep pushing it..
Eventually a newer generation of crypto users will show up and lap it up.
Assuming that if it's been around a long time it must be legit.

Hell look at Ethereum.. the no. 2 coin in crypto is a proven scam.
If that doesn't showcase how corrupt and scammy all this shit is then i don't know what will.

When the crowd values ETH at $228 it tells me loud & clear morality is long dead & gone.
The greed machine is running in full force and is unstoppable unless the cops come.
Or.. FiNCEN.  :D

butbutbut ... they have such a handsome Obersturmbannführer aristocratic Baron helping them now!?!?!
 
https://ripple.com/insights/karl-theodor-zu-guttenberg-joins-ripple-labs-advisory-board/ (https://ripple.com/insights/karl-theodor-zu-guttenberg-joins-ripple-labs-advisory-board/)

https://ripple.com/company/advisors/ (https://ripple.com/company/advisors/)

https://en.wikipedia.org/wiki/Karl-Theodor_zu_Guttenberg (https://en.wikipedia.org/wiki/Karl-Theodor_zu_Guttenberg)

Karl-Theodor_zu_Guttenberg a German aristocrat who is a proven fraud.

His full name is, Karl-Theodor Maria Nikolaus Johann Jakob Philipp Franz Joseph Sylvester Freiherr von und zu Guttenberg.

The "von und zu" reveals his lineage, while Freiherr means "baron".

Uhmm craziest name in history ?  :o

So ? NAZI community coin take over ?
Oh shit son !
I'm hiding under my bed until this blows over  :-\

Seriously though..
What i envision is the cops comin'
The bigger this gets the more attention it will get from 3 letter agencies.
Yes i mean over and above the existing tax guidelines that have been instituted already for years.

There is simply far too much money being thrown around with no accountability.
I heard of an exchange today that lost 14+ million dollars and they acted like they didn't even care.
They said it ate into their profits.
Uhmmm ?

This shit is getting silly stupid big time.

..and i can't wait to see the fucking blood bath.
I will eat popcorn until i puke !  :D

Yeah deciding on open sourcing your code on your coins is really a risk because any good developer or company may easily counter or delete and defeat you in the market using your own formula so everything must kept secret at all

The University of Bayreuth, which awarded him a Ph.D. in 2006, ruled he had "extensively violated academic standards and intentionally cheated."
Since the plagiarism scandal he lives in exile in the wealthy New York suburb of Greenwich.
He can point to a family of Nazi resisters.
He wants to police the internet and put criminal penalties on internet and other technological companies that will not do as the government wants
He called Donald Trump "that blonde lunatic named Donald".
He has the right to select the priest for his parish, fact.
He is a seriosly inbread thing.

Long live Bitcoin and freedom

Ripple was not launched fully open source guys.
They added open source code later over criticisms over crypto idealogy.
Which is now long gone.

And if you think about it.. since Ripple is a centralized company it makes no sense to open source their code.
They did though for one reason !
To appeal to the crowd here so they would buy the Ripple coins.

Don't forget they were shit & pissed on at launch and for years afterwards.
It's only now that they gained traction in the scene.. because the idiots here now are all scammy greedy inept dipshit losers.
A bunch of open mouthed drooling nitwit Investards.
And THEY FUCKING LOVE IT !

Ripple is happy as a pig in shit.. because of the market price of their coin and the free coins all the fancy CEO / CTFO and advisers got on ICO Premined shitcoin launch.

I'd actually rank this bullshit as much worse than LEO COIN.
At least LEO was a mined and far less premined coin etc.
Ripple is scam central and i would never own any of their shitcoins.. no matter how many exchanger ROI'z i get.

... and more pointedly, the greaseball oily Baron was Defence Minister of the Federal Republic of Germany and  McCrystals general water carrier and door holder before being kicked out as an academic fraud


https://bitcointalk.org/index.php?topic=1051679.msg11310706#msg11310706 (https://bitcointalk.org/index.php?topic=1051679.msg11310706#msg11310706)

you know who else are frauds? roger ver, jihan wu, and mark karpeles... "bitcoin & freedom" in the same sentence are a joke at this point. there is no real democracy and if you believe any different, you're blinded by the vision and not the reality.

Except we said from day one that we would open source our code. Lots of people said we wouldn't do that. We patiently explained that there was absolutely no incentive for us not to open source our code and lots of reasons for us to open source it. Specifically, the more people have to trust us, the more that's an obstacle to our success. We love for people to trust us, that's all good for us. But we hate for people to have to trust us, that's all bad for us.

We carefully designed a system so that absolutely no trust in us is required by the system's design. And we have a track record of progressively improving decentralization. We've carefully explained the obstacles to decentralization, our plans, and our progress.

Centralization is of no help to us whatsoever. The day we abused any power we have, we would do so completely in the open with cryptographic proof of our betrayal. That would be game over for us. Decentralization is all win for us.

When we do what is in our own interest, as we've always promised to do, you complain that we only did it because it was in our interest to do so! Well, duh. We've carefully designed a system that aligns interests.

Let me ask you a few very specific questions that I'm 100% sure you'll never answer with actual facts:

1) Do you think it would be bad for us if XRP was unarguably more decentralized than bitcoin? Isn't it clear that would be awesome for us? If not, what downside do you see?

2) Do you think our technology is incapable of being fully decentralized? If so, clearly explain why.

3) If it's in our interest for XRP to be more decentralized than bitcoin and our technology is capable of it, why do you think we wouldn't be aggressively pursuing it?

The only reason you're even talking about decentralization is because crypto investors here are calling you out on it...

Show me where you talked about XRP being decentralised when you first launched the concept..when you first launched the concept you kept a whole load of the XRP to yourself...centralisation pure and simple.

The questions your posing are mute points..its simply you changing your track because you've been called out. Your trying to cover it up by saying decentralisation is good

Actions count more than words. Doesn't matter what mental gymnastics you want to play

Just wondering if it would be possible for inventors  to patent their cryptocurrency in other to avoid this scenario playing out again.  Alot of hard work has gone into creating this stuff only for copycats clone them.

It would be. But we really want to succeed on a level playing field because we think that will bring the broadest adoption and be best for the industry generally.

If you're not going to respond to my arguments, don't pretend to.

Yes or no, do you think increasing decentralization is in Ripple's interest? Yes or no, do you think our technology is capable of operating in a decentralized configuration?

"The questions your posing are mute points..its simply you changing your track because you've been called out. Your trying to cover it up by saying decentralisation is good"

Do facts matter at all to you? Why is it so much more important to you what we say than what is actually true? Is decentralization good for us? Yes or no? Defend your answer. You cannot do so, so you change the subject.

Why aren't you up in arms at the bitcoin community for allowing China to decide which transactions go in a block? Maybe they're not focusing on that problem because nobody is calling them out on it. If nobody's making it a big deal, maybe that's because it really isn't a big deal. Do you think the bitcoin community should make this problem a major focus right now just because I'm making a big deal about it? Or should they focus on the actual day-to-day issues their actual users are facing? So even if you're right, you're just accusing us of being sane and rational and not making something a priority when it actually isn't to real users.

is ripple really in trouble,at least when it comes to price? Price seems to be on the way up, it came out of falling wedge...most think it will go up nicelly again..

There is growing awareness among crypto particpants that governance - who makes the decisons and how the decisions are made - is a critical/ultra important part of a currency, whether fiat or crypto.

The basic message from the Ripple fan club would be:  "trust us, our motives are pure!"  

Meanwhile, upcoming coin Tezos will hard-code open governance into the codebase itself.

Trust strikes at the heart of any currency, any community, any consensual process amongst human beings - the coin with the best trust will win the most.

US Dollar bill = "In God, We Trust"

XRP/Ripple = "trust us, we know what we're doing"

Tezos (and future imitators) =  don't trust me at all, change the coin itself/its codebase as the way of effecting change/making decisions, codelogic=governance process  (think 'strange loop', or the game called 'Nomic' >  https://en.wikipedia.org/wiki/Nomic (https://en.wikipedia.org/wiki/Nomic) )

Ripple has made a killing jumping on the cryptop bandwagon when there had nothing to do with it, they just rode the crypto horse to billions when what they had before Satoshi was nothing.

Once again, show me where in the original concept ripple talks about being decentralised...show me in the whitepaper. The whitepaper is the facts.

If you aren't willing to respond to that, I conclude your guilty of covering your tracks.

Funny how suddenly you become the savior of decentralisation when we're calling you out on it!! Haha

Everyone else take note - ripple has suddenly become the savior of decentralisation because we've called them out on it...lol

Yes..of course decentralisation is a good idea...a concept that you're now harping on about because we called you out on it

You have changed your track and that is a good thing, but once again, show me where in the original XRP and ripple concept that you have decentralisation as your core concept...it's not there is it??

Show me the facts of what you originally wrote in the whitepaper

What is this "original" whitepaper you're referring to? https://ripple.com/dev-blog/consensus-whitepaper-released/ ?
I prefer to look at code instead of papers and rippled was from the beginning designed to operate in a decentralized way (https://github.com/ripple/rippled).
If you are so certain that the initial strategy was heavy centralization and Ripple Inc. changed it because of criticism in this forum here, you surely have some substantial proof of that, right?

"The predecessor to the Ripple payment protocol, Ripplepay, was first developed in 2004 by Ryan Fugger,[18][19] a web developer in Vancouver, British Columbia.[20] Fugger conceived of the idea after working on a local exchange trading system in Vancouver, and his intent was to create a monetary system that was decentralized and could effectively allow individuals and communities to create their own money. Fugger's first iteration of this system, RipplePay.com,[21] debuted in 2005 as a financial service to provide secure payment options to members of an online community via a global network.[20][22]"

https://en.wikipedia.org/wiki/Ripple_(payment_protocol)

Proof comes from actions because actions count more than words....why did they keep 60% (or more) of the XRP if its not centralisation?

Seems to me they are talking about decentralisation now, when before they were (through their actions) wanting to be centralised..owning 60%+ of the XRP



This is interesting...thanks for this....

So, the predecessor in his intention was to be decentralised, but then they went centralised in their actions by owning majority of the XRP, and now they are talking about being decentralised again due to investor pressure and being called out.....

I would say actions count more than words...if its to be decentralised....like all the other cryptos out there, then why keep the majority of the XRP to yourself

Also, for the XRP that they kept to themselves, for what price was this XRP bought for? Or did they just magically allocate it to themselves by not paying a penny? So in which case, the valuation of XRP is unjustified

You only have to ask two questions:

1) Is Ripple's consensus algorithm capable of operating in a decentralized way?

2) Is it plausible that someone could have accidentally developed such an algorithm without intending it to be used this way?

Satoshi's biggest breakthrough was finding the first way to solve the double spend problem without a central authority (proof of work). Our first breakthrough was finding the second way (a distributed agreement protocol that doesn't require a leader or complete prior agreement on the participants).

couple of indian banks have joined ripple, for their tech.

ripple is low now , but will come back up, it will take time., but it will be back up and more than ever., i am holding ripple.,

This is the type of "ignoring investors comments" that won't win you any brownie points...everybody else take note....

A much more respectable way to approach this would be:

a) to acknowledge the concerns raised as the ripple/xrp concept has evolved
b) acknowledging that investor feedback and comments has been taken on board to evolve things on the right line

You have done neither...actions of ripple and XRP dont match your words. It seems you're unable to have a dialogue so everybody else take note

Once again:

For the XRP that ripple has kept to themselves, for what price was this XRP bought for? Or did they just magically allocate it to themselves by not paying a penny?

RIP ple

They still on board of Ripple,
they didnt plan to get out of XRP and they only want to make cloud blockchain and new coin for them.
Please check again the above link as it doesnt say about leaving XRP.
That news was on 23 May 17.

Another link on Nikei:
it only emphasis that they are on Ripple.


Check this word on it:
SBI has also teamed up with Ripple, the U.S. financial technology startup behind the virtual currency XRP, to form the joint venture SBI Ripple Asia. The SBI group plans to begin operating an exchange for virtual currencies this summer, and plans to launch its own such currency, SBI Coin, down the road. 

Conclusions:
- they are on XRP;
- dont be surprised there will be (strong) new coin, I dont know about their final form and game-rules;

Will they do ICO? It is gonna be very wild.

I was about very optimistic about Ripple and had pushed it but I ll wait for next move probably.
By the way,
Thanks to inform that they are still on XRP.

I check Ripple site and there is no news about compete with R3 and some banks leaving XRP,.... so I am still optimistic about XRP.
I wait for the signal and jump :)

Nice conclusion, will they have ICO?

The the different concept of bitcoin. Bitcoin still remain decentralzed because the creator is really independence not greedy with the money. While other crypto ( not all) take opportunity to make wealth for themselves that's why make coin with centralized system. They colaborate with banking industries so what's the different crypto and banks?

Okay,
From business point of view, ir seems Ripple is actually stronger,
And for the trading,
It needs good news,... so I think it is a good sign.
Trading is risky, very high risk,....
we always remember that everyone probably has coins and will surprise us.

The real troble is what di we have to do & when?
:)

There was talk about a plan to make a fully decentralized, and yet group governed coin/token.  There were still issues in the idea phase and it may have simply been dropped because of those or like other ideas, the effort was bigger than the idea.  The basics were that, rather than using power or stash as a deterministic means to code forking choices, that X number of random wallet clients would be chosen and those would choose.

When people raise honest concerns, I address them honestly. When people mindlessly repeat FUD, make blatanly false accusations, or demand I jump through hoops so that they can continue to pretend they're replying to me, my response is not to try to mine the filth for the honest concerns buried in it. You can find lots of places where I address honest concerns and acknowledge Ripple's weaknesses when responding to people who also honestly acknowledge the weaknesses of other cryptos.

The history of Ripple is well-known. This is a perfect example of what I'm talking about. You are not honestly raising a concern. You are just asking me to repeat a history lesson for you specifically. If you had an honest concern about the initial distribution, you would explain some way in which what happened concerns you, not ask me to repeat it for you.

^Since your a ripple employee, you should be mindful that investors in ripple are reading your comments

You've ignored the question and in my opinion you are commenting arrogantly...which doesn't fill me with confidence.

Everybody else take note. It reflects badly on you and on ripple which are you seeming to represent.

You could have easily answered the question but have deliberately refused to.

Once again, the XRP which ripple has kept for itself, how much was paid for this XRP?

This isnt necessarily for my benefit..its for the benefit of EVERYONE reading this thread.

----

If you want people to invest in XRP, you should be freely willing to disclose information, not posture and position yourself like you are

I'm not sure what you mean by "the question". If you have some question you actually want an answer to, ask it and I'll happily answer it. But if you know the answer and want some explanation about the answer, don't ask me the question you know the answer to. State the answer to the question and ask me the about the thing you want explained. Ask the question you actually want the answer to and I'll answer it.

But all I saw before was: "For the XRP that ripple has kept to themselves, for what price was this XRP bought for? Or did they just magically allocate it to themselves by not paying a penny?"

It's common knowledge that the founders gifted Ripple 80 billion XRP, primarily to align incentives. One of the disadvantages of distributed agreement protocols like Ripple's consensus is that, unlike PoW, there is no known way to use them to perform an initial distribution of a token. While they do have many advantages (particularly, much faster certainty of confirmation), they do have some disadvantages as well.

Personally, I don't see this as much of a disadvantage anymore. I honestly did back in 2012 or so, when I still thought that PoW would automatically lead to decentralization, censorship resistance, and even provide a way for people with spare computing power to make a little extra money. We now know that it has not quite delivered on that early promise. It has had a naturally centralizing tendency because someone will have the lowest price on electricity and ASICs and that has resulted in a situation where China could censor bitcoin transactions if they want to. It has also sucked many millions of dollars of value that bitcoin created and given it to electric companies and semiconductor manufacturers. Worse, it's turned miners into major stakeholders whose incentives do not always align well with the users, particularly with respect to transaction fees.

By contrast, Ripple's model has kept the value that the network has created in the hands of those who created it and those who supported it rather than those who wasted the most electricity.

If you're trying to say that they didnt pay ANY money for the 80 billion XRP, you should say that outright. The question was: what price was paid for the XRP, not whether it was gifted or not (which doesn't exclude a price being paid)

If im honest, you sound like a politician that is trying to steer the conversation in a different direction

Everybody else take note....

Okay, we're done. I already made it very, very clear that I was only going to respond to an honest question and not an attempt to pretend that you're replying to me while making me needlessly jump through a hoop for amusement. You may have the last word as many times as you like. If by some chance you do actually happen to post, likely by accident, an honest question, I'll probably still reply to it because that's just how I'm wired.

If you ever find yourself in the San Francisco area, let me know. I'll buy you lunch and we'll talk over a meal. I bet you're a smart, honest guy in person. That's the person I want to engage with.

The exchange rates are one of the major indicators. But there are other important factors as well. A constantly rising exchange rate alone doesn't guarantee the long-term survival of a particular crypto currency. It also depends a lot on the user-base expansion, government recognition, unity within the developer community, acceptability from the vendors.etc.

I'll answer your question for you:

They got 80 billion XRP and they didn't pay ANY money for it. There was no price paid for those tokens whatsoever.

Thank you for confirming that you asked a question you already knew the answer to just to make me needlessly jump through a hoop rather than asking an honest question or making an honest argument.

This isn't about "jumping through hoops" - you're posturing unnecessarily...im asking you direct questions purely to get a direct response

The XRP wasn't paid for, that's the bottom line..you didn't want to answer that directly because you know it would expose a hole in your reasoning

XRP not being paid for means that XRP isn't operating under free market forces - which is what decentralisation is all about

The facts are: since the 80bn XRP wasn't paid for, you're not operating under free market forces at all. You are manipulating the market in order to artificially inflate the liquidity of XRP

That doesnt sound like decentralisation at all. Decentralisation is free market forces, no manipulation, everything being paid for and not allowing any party to gain artificial bias.

You are creating a central system in your actions, no matter how much talk of decentralisation you want to talk about. Actions count more than words.

A much more authentic way of reasoning would be to say you have both central and decentral elements built into the XRP concept...and that there was an attempt to have a balance, and in the end, the free market will win and decide the ultimate outcome.

I agree that we are using the value of the XRP to create liquidity.

No party gained any artificial bias. The 80 billion XRP that was gifted to Ripple had *zero* value. Anyone else could have done exactly what Ripple did and gotten the same result.

I agree that in no way is the distribution of XRP decentralized.

I think that's an entirely fair statement. When I talk about decentralization, I am only talking about the operation and governance of the network, not the distribution of the token. If you're talking about the distribution of the token, that's entirely different. I see many reasons why you would want operation and governance to be decentralized. To be honest, I see absolutely no reason you would want distribution to be decentralized anymore. Experience since 2012 has shown that just doesn't work very well. But the market will eventually decide.

At the time I first stared working on what became the current Ripple, I saw no reason to want an alternative to PoW. I genuinely believed that it would be inherently fair and decentralizing and would foster good governance (if any was needed) by aligning interests. We now know that is not entirely true, though of course PoW continues to work quite well. But it does not ensure decentralization by itself nor does it necessarily foster good governance. Those things still take work, and to some extent you are fighting the technology.

The biggest problem with PoW though is simply that it cannot be scaled. There is not going to be one blockchain to rule them all because too many people, for legitimate reasons, want too many different things from their blockchains. Some people don't want any complexity that has a performance cost -- they just want fast token movement. Some people have use cases that require more complexity (like cross-currency payments). And PoW won't scale because each such system has to find some way to incentivize the PoW needed to keep its chain secure. There is no known way for smaller systems to do that. Distributed agreement protocol do not have this limitation, though they cannot do an initial token distribution to people who waste power.

you realize you've described every single business on this planet, right? all businesses offer a service/commodity which YOU decide to pay for... joel has been insanely nice and forthcoming with information, not to mention being generous with his time to engage with the crypto community. show some respect.

Jesus christ kadscuk, why are you being so aggressive? Calm the f*** down. I love when team members of these different crypto companies post on here. Don't push them away with your douchebaggery.

Can someone explain how it is possible the available supply decreases from time to time? WTF
(Now 17 June 2017 at 38,290,271,363 XRP    )
https://i.imgur.com/WE8HJvj.jpg



How can you "loose" the beginning of a Blockchain and Number 32570 becomes the Genesis?

.

Ripple's design does not require history for the system to make forward progress. Storing historical data is always optional.

In the very early days of Ripple, there were only three servers running. All were validators and all were on Amazon's EC2 platform. They were essentially identically configured.

Early versions of rippled did not check disk free space and would continue running even if the disk got full. In addition, they didn't save the ledger header into the node store. All three validators ran out of disk space at substantially the same time.

I took snapshots of the databases of all three validators and attempted to recover the missing ledgers. As I recall, I was able to recover several thousand ledgers and got stuck at 32,570.

All of this occurred before the network was open to the public, before XRP was traded, and before XRP had any value at all.

After the network was opened to the public, several volunteers offered to assist with the recovery process and we made the snapshots from all three servers public. No additional ledgers were recovered.

So what the FK do you own?. You go to every FKNG thread saying that this coin is a scam, that coin is a scam, the fkng coin is a scam....so what do you think is not a scam?? what the FK do you like??...and if you dont like any coin...what the FK are you doing here??

So those change in number of coins aren't related to the consensus rule?

By the way, i just read this post in reddit, beautiful: https://www.xrpchat.com/topic/6362-the-reason-why-xrp-will-be-adopted/

I'm not sure what you're referring to. What change in the number of coins?

You know what he meant.. but as usual you are playing games.

No, since this is an external measure.
Something similar would be "BTC that are not held by Bitstamp". This number is likely to change over time, but doesn't have anything to do with the total number of BTC or consensus rules that have to be respected by miners (e.g. <=50/25/12.5 ... BTC per coinbase transaction).

Coinmarketcap.com just chose to only display the portion of any currency that is not held by the creators/custodians of that currency, see https://coinmarketcap.com/currencies/views/market-cap-by-total-supply/ for the actually existing numbers of tokens for each currency listed there. This number is the one that is enforced by consensus rules and which can only go down.

I mean, if the consensus can't validate a transaction and they asume it as false, can they just destroy those tokens?
I'm refering to the graphic posted up:

So the graph is not accurate?

No idea, but it measures a property that is not part of the currency/blockchain design. As I said, a similar graph could be made with "Bitcoins deposited at Bitstamp and Kraken". The number might increase or decrease, but it doesn't influence how many total Bitcoins are out there.
This graph shows "XRP not held by Ripple Inc.", not "Total XRP in existence". It also contains a spelling error in the heading, so I'm not so sure if I would trust it a lot if the (german speaking) author is not able to correctly type a word or use copy-paste...

No. There are only two ways to destroy XRP. It can be used to pay transaction fees or it can be sent to an address that is provably unable to transfer it out. Both of those cases require a transaction to execute and apply in a ledger. If a transaction is rejected by the consensus process, it doesn't do anything at all, not even ever appearing in a ledger or authorizing any changes to ledger state. If a transaction is accepted into a ledger by the consensus process, deterministic rules control what the consequences of that transaction are.

I really hope that this coin disappears, it has a really bad influence on the cryptocurrecy field. It has actually nothing to do with crypto by being centralized and manipulated in price.

No, maybe you need to read more on there website www.ripple.nl.

It doesn't sound like Ripple is in 'major trouble' it sounds like the reason for the massive price increase may have been overblown.
Honestly at the moment, the market doesn't much care. If there is good news, the price goes up, if there is bad news it stays high, until the next good news, when it pumps again!

There is a lot of money flying into the alts bubble, so prices are rising. Ripple isn't in trouble, maybe it should fall from it's all time highs, but it might not too!

Agreed and i have asked a number of times if Ripple coins can be removed.
Since they can be added on Demand by the Ripple Inc company then uhh see a problem ?

Ripple has nothing special to offer like the majority of the coins from the same generation and most of coins from the current generation.  There is nothing wrong with Ripple, but there is nothing that will make it surge above the rest more than a few times here and there, based on new traffic created because the OP announcement got a new bit of life.

Then again most tokens don't have any special code to them, it's just the perception of what value it holds, and they still get pumped.

People jump on the old threads and make a comment that is nothing more than a chance for them to speak and be heard in the world and make themselves feel validated and whatever older thread that was blessed with that comment will get a little new activity.  It was Ripple recently and something else next week.

These coins and tokens get their fans based on some snippet of the OP announcement and the rest is just smoke and mirrors, based on the original smoke and mirrors and buttressed with a little more smoke and mirrors.

I don't know much about ripple token's usage for users but as a startup ripple is successful now. and it seems it will go more

so should i hold or sell my ripple.,
i thought ripple has a bright future.,

its backed by google and its helping banks in 3rd world, to send funds internationally quick and cheap.
 

i bought some yesterday ^^ i think Ripple is good for the future :)

Ripple wont die, it'll grow. big banks back it up.

We can hate or love it, that's a fact.


But once R3, Quorum, Axoni & InfoSys will launch their own coins, they'll rocket sky and will be intense compete for Ripple.

I wonder when they actually gonna launch coins..

Yeah they could list Paypal, Visa or simply fiat currencies, what a joke

Soon enough a lot of banks and financial institutions will create their own alt coins. Ripples main target is cross border transfers and that may keep them safe for the meantime.

R3 has been around for a while now but still does not have its own native coin.

Why to be worried about Ripple creating another coin, is stupid... It is as if Microsoft decided today to create new shares for its shareholders. Non sense.

Ripple is in major major major major major trouble

Singapore’s central bank (MAS) and some serious big banks got together and decided to go head to head with Ripple Inc and build its own Distributed Ledger Technology (DLT) Database that is spread across multiple sites, countries or institutions and wont have to deal with a Broken Database  (https://bitcointalk.org/index.php?topic=2019899.msg20128229#msg20128229)


XRP or Ubin take your pick
https://www2.deloitte.com/content/dam/Deloitte/sg/Documents/financial-services/sg-fsi-project-ubin-report.pdf
They are even so kind to integrate Ripple and Stellar blockchain distributed ledger tech database in the prototype. Of course it will be gone sooner or later.

https://i.imgur.com/DSc8TZn.png

1. many people still think that the value of XRP derives from Ripple's success as a company

2. how would you trust a coin that the founder himself wanted to dump a few years ago https://www.coindesk.com/ripple-jed-mccaleb-settle-suit-over-1-million-in-disputed-funds/

3. why on earth do large exchanges like Bitstamp still allow XRP trading ?

The valuation of XRP shows that the cryptocommunity is not as educated as many think...

Why doesnt like XRP? Is cheap, is fast, is ubiquitous, is easy to see the transactions in the blockchain. I just dont get why this hate to a coin. I love it, and I'm lucky that my two principal exchanges uses XRP. The day I can buy and pay in XRP I'm gonna be so happy, is just a coin not the code for teleportation... far far far better than UShitD
For the teleportation I have already my IOTAS  :D

I have no problem with XRP as a mean of payment. If people like it, fair enough.

I have a big problem with XRP as a store of value. A centralized coin where founders can release new coins at will offers no value in my view.

But who knows, people may find value in it and I may be wrong...

In coming Ripple should face a lot of challenges with the bank because once if they attain the knowledge of Ripple's blockchain. The banks themselves start developing their own blockchain for a smooth transaction. 'Nobody doesn't know what is going to be future of Ripple.

Banks, payment providers and digital asset exchanges process and provide liquidity for payments on RippleNet, creating new, competitive cross-border payments services for their customers.

1) That's simply not true.  There is actual code to run a check on the maximum number of XRP on the network.  JoelKatz has explained these previously.
2) Even if it were true, that statement makes no sense from a critical thinking perspective.  A move to control the markets would just end up hurting themselves. 

I do see the concern from the perspective of "uncapped" value but this has already seen a few coins disprove the theory, at least for the time being. I can see Dogecoin's inflationary model or even ETH for that matter. In a way, ETH centralisation offers a form of security for owners, who know that there are big whales with a lot of investment and interest. It instils confidence that they will not let the value go down too much. Like it or not, centralised currency will try to influence markets at some point.

They're been seems to be getting out of trunk things off for this coin. Chances are there will still be a core of people that will stay with it like a cult following. I don't think it's going to die anytime soon but at the same time I wouldn't expect an upward rise in the next couple of months or anything like that.

I'm afraid you're right: but: HODL: https://www.youtube.com/watch?v=N1NupxasQWs