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Now let's say Bitstamp gets hacked and those 2907 BTC are wiped out. People start withdrawing BTCs from Bitstamp. How does that get resolved? In order or does Bitstamp choose which IOUs to deal with first?
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Is a gateways IOUs issued or outstanding public info?
Can you explain how an IOU in the system defaults?
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How do you calculate electricity cost? I thought it was different depending on location. |
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I sold all my ripples recently, the way it's going is unsustainable and i hate to call it but it's an obvious bubble.
Right now 8000 XRP is worth 1 Bitcoin or 120 USD. Now consider the fact that XRP at this point is completely useless, you can't do anything with it but hold, nowhere to spend. Not more then couple of weeks ago the going rate was 150K per 1 Bitcoin.
I might buy some back when this bubble pops, but right now the price is completely insane.
And given the fact that they give away 20,000 in the Giveaway thread. That means each bittalk forum account is worth $300. I'm with you on this one. Who did you sell to btw? Thinking of getting rid of mine too. |
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I'm sorry, but this guy is nuts. Everyone sell your ripple to him for BTC now!
Bitcoin has a float of 11 million mathematically guaranteed.
Ripple has a float of 100 billion or maybe even infinity (based on trust of OpenCoin).
100,000,000,000 XRP * 102 USD / 11,000,000 BTC = 927,272
From my calculations a dollar is about: $1 = 900,000 XRP
So an XRP should be worth $0.000001 or less
http://youtu.be/sBpQIcd-FMUXRP is worth whatever people pay for it. Even I still don't know what's so great about Ripple. But I'm giving it time to see what happens. https://ripplecharts.com/Currently trading at 8800 XRP/BTC |
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So are we in a Ripple bubble now or not? haha
So 8000 Ripples = 1 BTC? And they're still giving out 20,000 Ripples in the giveaway thraed? Or am I reading this wrong?
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At 8500/BTC, 100 billion XRP is valued at 11.8 million BTC = $1.3 billion USD WTF! Of course this is due to the public scarcity. Still WTF!  i came here to post the very same thing, but you beat me to it  was just on bitstamp and came across their Buy Ripples page currently @ $1 per 50 XRP (seriously?) that's a 2 BILLION DOLLAR valuation don't see any way to actually SELL yet, but still, yeah, WTF!!! with bitstamp (which i believe is the 2nd largest exchange) supporting ripple, do ya think maybe, just maybe, it might be time to flip that "code release" switch  edit:even if the next massive giveaway was 5,000 XRP per account; that's literally giving everyone a hundred dollar bill to then unload on the free market; this decentralization plan of OpenCoin is making less and less sense to me And this is why we should be getting an announcement any day now, Due to the overwhelming success of Ripple XRP, we currently do not have any plans to make this project open source. Thank you and please continue making us money.This will decrease the chance of competing ripple clones which would devalue the Ripple. But for the record, I don't consider this to be a scam and more like an innovative business venture. Just to touch on your last point, if the Giveaway thread starts giving out $100 bill, then each bitcointalk account who has not posted in that thread will be valued at $80. Hacking, buying accounts, and dead accounts coming out of the woodwork will be rampant then it was at $10-$20 range before. |
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At 8500/BTC, 100 billion XRP is valued at 11.8 million BTC = $1.3 billion USD WTF! Of course this is due to the public scarcity. Still WTF! |
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Presently, it's just that it seems like it's easier for frozen molasses to run uphill in winter than it is to sell a digital product with a bitcoin payment gateway.
CoinDL makes selling or bitcoins and delivering digital goods very easy. But how does CoinDL deal with disputes? (Or any other merchant. Would seem like a trouble.) Sure there's a receipt to show something was accessed or downloaded. But what about "goods not as described." |
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Well there has been softwares being sold for BTC, it's growing daily however it hasn't grown commercially.
Most of these sellers are personal sellers that sell their own products.
No serious business paying rent in fiat, with employees who need paying can sell goods in BTC with the price fluctuating so wildly. It would be irresponsible to do so. I would not put a major portion of my turnover at risk by selling in fixed BTC prices, it would be suicidal if it was serious money. Bit coin is just speculative unless it has a (relatively) stable price and can actually be exchanged for real items of value with confidence. I believe there are services to convert BTC to USD real time for merchants who don't want to deal with fluctuation risk. It's a small fee to pay to not deal with chargebacks or disputes. |
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Investing in LTC is like saying "Bitcoin is too safe for my taste... I want more risk/profits". Umm no cause the risks are identical, while the profit are much larger. I say identical because Litecoin is the only viable crypto-currency for long term success at the moment. so if you believe in bit coin why wouldn't you believe in a coin that fixes centralized mining, better wealth distribution, and faster transaction times? I thought faster transaction times for LTC was a misconception? |
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Magic cards are, actually, still quite valuable. They've held value longer than beanie babies, that is for sure. I am actually surprised that there's not a bitcoins for magic cards marketplace out there, considering MTgox's origins.
I've done all 3 for at least 1-2 years each phase! Anyone else that crazy? hahaha |
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Unless you use escrow (which involves trusting a third party) the buyer risks a no delivery of goods and/or services with no recourse. Check out the scammer accusation subforum. No chargebacks is an inherent feature of bitcoin. It doesn't really increase risk though, it just MOVES risk from the receiver to the sender. The flip side is that it's much safer to GET money with bitcoin. In any case I suspect escrow services will become standardized with time. Escrow isn't 100% safe either. If the other party tries to screw you, you don't know for sure the escrow will rule for you. PayPal disputes are generally ruled in the buyer's favor. And sometimes that's how it works when "tie goes to buyer" or when the seller can't provide sufficient evidence that a virtual item was delivered. |
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You can get upset if you like, but it doesn't change the fact that the only justification for a price rise from $20 to $260 in less than 4 months is speculation driven by media hype (not fundamentals). This has nothing to do with negativity and everything to do with trading realistically and without emotion.
That's my way of thinking too and waiting to buy. But I'm worried by alternative crytopcurrencies. They are zapping money from the BTC price. isn't that point though it unwinds the early adopter BTC in more hands, makes it more like a currency....also competition is good...may the best coin win, and it force you to hold some of each Possibly. But I don't want to be holding the wrong coin at the wrong time. |
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You can get upset if you like, but it doesn't change the fact that the only justification for a price rise from $20 to $260 in less than 4 months is speculation driven by media hype (not fundamentals). This has nothing to do with negativity and everything to do with trading realistically and without emotion.
That's my way of thinking too and waiting to buy. But I'm worried by alternative crytopcurrencies. They are zapping money from the BTC price. |
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If they don't take cash or paypal, the other methods still require verification to some extent If they take PayPal without verification, they're doing it wrong. |
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What's the link to this chart? I can't seem to find it.
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Are you going to offer any analysis or scare tactics because just listing the price isn't very entertaining.
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I'd never let PayPal handle disputes if I had the choice. Because they obviously don't have a clue about handling virtual transactions and the buyer usually wins. So as a seller, I'd ask that BTC be sent directly to me. If any buyer wants to go through PayPal to send BTC, I'd think they were a scammer. If the buyer wants some kind of escrow, that's fine. But we're not using PayPal.
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