Ripples getting debased?

[freequant]

Last week, a sudden increase of interest and speculation has dried up the offer for XRPs that was mostly limited to the first round of giveaway on Bitcointalk. But since two days, there is a wind of inflation blowing, and a lot of liquidity being added on XRP sell side.
https://ripplecharts.com/market/USD:Bitstamp/XRP

Does anyone know  if the second round of giveaway has started?
I doubt it is the case because the number of active accounts reported by RippleCharts hasn't increased significantly.
Is it OpenCoin injecting liquidity on the market?

Any way to measure the amount of XRPs in circulation?

[Matthew N. Wright]

Any way to measure the amount of XRPs in circulation?

Since all the "coins" were "premined" in the first place, you have to assume they're *all* in circulation when doing culculations.

[freequant]

Any way to measure the amount of XRPs in circulation?

Since all the "coins" were "premined" in the first place, you have to assume they're *all* in circulation when doing culculations.

Not if you consider OpenCoin as a central bank.

[Come-from-Beyond]

What the point to play Ripple? It's just a fiat money but on the Internet.

[wojtek]

I don't think there is another giveaway. Price of XRP went up so many people who got their XRP early and just held them decided to sell. I think about 3000 people got XRP from giveaway, if they got 30kXRP on avarage, then there are about 100 milion of XRP in circulation. Assuming OpenCoin is not secretly selling some of their coins.

[ElectricMucus]

That's easy, it happened with every alternate cryptocurrecny in history.


Essentially it's a shakeout, people who got lots of them are dumping to pick up more of them before the pump. XRP started at 1BTC/50K. But they have the potential to go up further than any coin since they are truly deflationary, are useful and professionaly implemented.
If you were surprised by the course LTC has taken just watch what will happen to XRP.

[mr_random]

This was always going to happen because they've gone on record saying they plan to give more of their 80 billion XRP away.

People buying Ripples now aren't very smart, there is a huge supply of them still to be dumped onto the market by the creators and we all know how increased supply affects the price.

[Terpie]

This was always going to happen because they've gone on record saying they plan to give more of their 80 billion XRP away.

People buying Ripples now aren't very smart, there is a huge supply of them still to be dumped onto the market by the creators and we all know how increased supply affects the price.

Exactly, your 'investment' is 100% fully controlled by the discretionary release rate of OpenCoin and the founders. There is no way to predict how much supply exists at any given point except in the very long-term.

[ElectricMucus]

This was always going to happen because they've gone on record saying they plan to give more of their 80 billion XRP away.

People buying Ripples now aren't very smart, there is a huge supply of them still to be dumped onto the market by the creators and we all know how increased supply affects the price.

Exactly, your 'investment' is 100% fully controlled by the discretionary release rate of OpenCoin and the founders. There is no way to predict how much supply exists at any given point except in the very long-term.

Not exactly. They are limited to a total amount and can't change that without ripping their own system apart. At this point it might be possible to override it since there isn't any network yet but doing so would undermine their own effort.

The thing about it being controlled by opencoin: Deal with it. This isn't a not-for-profit venture and it is completely justified from that perspective.

[Terpie]

This was always going to happen because they've gone on record saying they plan to give more of their 80 billion XRP away.

People buying Ripples now aren't very smart, there is a huge supply of them still to be dumped onto the market by the creators and we all know how increased supply affects the price.

Exactly, your 'investment' is 100% fully controlled by the discretionary release rate of OpenCoin and the founders. There is no way to predict how much supply exists at any given point except in the very long-term.

Not exactly. They are limited to a total amount and can't change that without ripping their own system apart. At this point it might be possible to override it since there isn't any network yet but doing so would undermine their own effort.

The thing about it being controlled by opencoin: Deal with it. This isn't a not-for-profit venture and it is completely justified from that perspective.

Hence, why I said supply was unpredictable EXCEPT in the very long-term. And even now, since it is closed-source, that is debatable. And I never made any judgment on their motive as a for-profit, but simply the silliness of purchasing XRP as an investment right now. Deal with it.

[ElectricMucus]

This was always going to happen because they've gone on record saying they plan to give more of their 80 billion XRP away.

People buying Ripples now aren't very smart, there is a huge supply of them still to be dumped onto the market by the creators and we all know how increased supply affects the price.

Exactly, your 'investment' is 100% fully controlled by the discretionary release rate of OpenCoin and the founders. There is no way to predict how much supply exists at any given point except in the very long-term.

Not exactly. They are limited to a total amount and can't change that without ripping their own system apart. At this point it might be possible to override it since there isn't any network yet but doing so would undermine their own effort.

The thing about it being controlled by opencoin: Deal with it. This isn't a not-for-profit venture and it is completely justified from that perspective.

Hence, why I said supply was unpredictable EXCEPT in the very long-term. And even now, since it is closed-source, that is debatable. And I never made any judgment on their motive as a for-profit, but simply the silliness of purchasing XRP as an investment right now. Deal with it.

Not any more silly than purchasing BTC, it's the same mechanism if satoshi or artforz decides to cash out it will have the exact same result as opencoin doing so.
I'll be keeping my 50k XRP.

[Terpie]

This was always going to happen because they've gone on record saying they plan to give more of their 80 billion XRP away.

People buying Ripples now aren't very smart, there is a huge supply of them still to be dumped onto the market by the creators and we all know how increased supply affects the price.

Exactly, your 'investment' is 100% fully controlled by the discretionary release rate of OpenCoin and the founders. There is no way to predict how much supply exists at any given point except in the very long-term.

Not exactly. They are limited to a total amount and can't change that without ripping their own system apart. At this point it might be possible to override it since there isn't any network yet but doing so would undermine their own effort.

The thing about it being controlled by opencoin: Deal with it. This isn't a not-for-profit venture and it is completely justified from that perspective.

Hence, why I said supply was unpredictable EXCEPT in the very long-term. And even now, since it is closed-source, that is debatable. And I never made any judgment on their motive as a for-profit, but simply the silliness of purchasing XRP as an investment right now. Deal with it.

Not any more silly than purchasing BTC, it's the same mechanism if satoshi or artforz decides to cash out it will have the exact same result as opencoin doing so.
I'll be keeping my 50k XRP.

Satoshi controls 99.99% of the currency units and 100% of the participating nodes? Let's be honest. There are many current risks to holding XRP that do not exist with BTC.

[ElectricMucus]

Satoshi controls 99.99% of the currency units and 100% of the participating nodes? Let's be honest. There are many current risks to holding XRP that do not exist with BTC.

He did so at the beginning.

[Terpie]

Satoshi controls 99.99% of the currency units and 100% of the participating nodes? Let's be honest. There are many current risks to holding XRP that do not exist with BTC.

He did so at the beginning.

OK bud, the only relevant measure is % of total potential currency units. XRP, as it stands right now, is the equivalent of Linden dollars. Everything that could make it analogous to BTC, is dependent on OpenCoin open-sourcing. You're assuming they will because you've deduced that the incentives align in that manner. However, until they actually open-source... Linden dollars. And even then, the % control of all currency units makes them effectively a central bank for the foreseeable future.

[ElectricMucus]

Satoshi controls 99.99% of the currency units and 100% of the participating nodes? Let's be honest. There are many current risks to holding XRP that do not exist with BTC.

He did so at the beginning.

OK bud, the only relevant measure is % of total potential currency units. XRP, as it stands right now, is the equivalent of Linden dollars. Everything that could make it analogous to BTC, is dependent on OpenCoin open-sourcing. You're assuming they will because you've deduced that the incentives align in that manner. However, until they actually open-source... Linden dollars. And even then, the % control of all currency units makes them effectively a central bank for the foreseeable future.

Noted.
But if Opencoin becomes as big as Lindenlab I think XRP will outperform any other virtual asset.

[drawingthesun]

That's easy, it happened with every alternate cryptocurrecny in history.


Essentially it's a shakeout, people who got lots of them are dumping to pick up more of them before the pump. XRP started at 1BTC/50K. But they have the potential to go up further than any coin since they are truly deflationary, are useful and professionaly implemented.
If you were surprised by the course LTC has taken just watch what will happen to XRP.

Useful for the IOU system, this always sounded to me like a banks idea of a Bitcoin competitor. I am not convinced that XRPs are useful if their only use to extend IOUs. Sounds like the beginning of a unstable monetary system.

And at the moment there is no implementation, its all still sitting on a closed source server somewhere.

I'm still surprised about the amount of people loving Ripple, I am sure there are a lot of paid accounts here.

ElectricMucus, do you have only 50,000 XRP? Are you not associated with the Ripple project at all?

[ElectricMucus]

That's easy, it happened with every alternate cryptocurrecny in history.


Essentially it's a shakeout, people who got lots of them are dumping to pick up more of them before the pump. XRP started at 1BTC/50K. But they have the potential to go up further than any coin since they are truly deflationary, are useful and professionaly implemented.
If you were surprised by the course LTC has taken just watch what will happen to XRP.

Useful for the IOU system, this always sounded to me like a banks idea of a Bitcoin competitor. I am not convinced that XRPs are useful if their only use to extend IOUs. Sounds like the beginning of a unstable monetary system.

And at the moment there is no implementation, its all still sitting on a closed source server somewhere.

I'm still surprised about the amount of people loving Ripple, I am sure there are a lot of paid accounts here.

ElectricMucus, do you have only 50,000 XRP? Are you not associated with the Ripple project at all?

Why should I? No I'm not associated with them.
Yes I only have my own 50K XRP, I have not bought any, there just isn't enough information available to start trading it.
The reason why I think ripple will succeed is simply the greed of this community.

XRP is much more suited for the whole pump & dump  mentality than BTC or any other coin. "Premine" or not they all got pumped at some point. The difference here though is, that XRP can be actually used for something else than trading XRP, it can be used to trade everything else too. That makes it inherently more valuable despite the fact that it is centrally controlled.

[drawingthesun]

That's easy, it happened with every alternate cryptocurrecny in history.


Essentially it's a shakeout, people who got lots of them are dumping to pick up more of them before the pump. XRP started at 1BTC/50K. But they have the potential to go up further than any coin since they are truly deflationary, are useful and professionaly implemented.
If you were surprised by the course LTC has taken just watch what will happen to XRP.

Useful for the IOU system, this always sounded to me like a banks idea of a Bitcoin competitor. I am not convinced that XRPs are useful if their only use to extend IOUs. Sounds like the beginning of a unstable monetary system.

And at the moment there is no implementation, its all still sitting on a closed source server somewhere.

I'm still surprised about the amount of people loving Ripple, I am sure there are a lot of paid accounts here.

ElectricMucus, do you have only 50,000 XRP? Are you not associated with the Ripple project at all?

Why should I? No I'm not associated with them.
Yes I only have my own 50K XRP, I have not bought any, there just isn't enough information available to start trading it.
The reason why I think ripple will succeed is simply the greed of this community.

XRP is much more suited for the whole pump & dump  mentality than BTC or any other coin. "Premine" or not they all got pumped at some point. The difference here though is, that XRP can be actually used for something else than trading XRP, it can be used to trade everything else too. That makes it inherently more valuable despite the fact that it is centrally controlled.

I only ask because i'm paranoid about loads of people being paid off and also some of the people come on here are apart of the Ripple team and have hundreds of millions XRP.

I'm not sure that a crypto-currency needs another use. The whole point is that faith and the network effect gives Bitcoin and others their value and we don't need them to hold duel lives where they can do something else.

[Terpie]

That's easy, it happened with every alternate cryptocurrecny in history.


Essentially it's a shakeout, people who got lots of them are dumping to pick up more of them before the pump. XRP started at 1BTC/50K. But they have the potential to go up further than any coin since they are truly deflationary, are useful and professionaly implemented.
If you were surprised by the course LTC has taken just watch what will happen to XRP.

Useful for the IOU system, this always sounded to me like a banks idea of a Bitcoin competitor. I am not convinced that XRPs are useful if their only use to extend IOUs. Sounds like the beginning of a unstable monetary system.

And at the moment there is no implementation, its all still sitting on a closed source server somewhere.

I'm still surprised about the amount of people loving Ripple, I am sure there are a lot of paid accounts here.

ElectricMucus, do you have only 50,000 XRP? Are you not associated with the Ripple project at all?

Why should I? No I'm not associated with them.
Yes I only have my own 50K XRP, I have not bought any, there just isn't enough information available to start trading it.
The reason why I think ripple will succeed is simply the greed of this community.

XRP is much more suited for the whole pump & dump  mentality than BTC or any other coin. "Premine" or not they all got pumped at some point. The difference here though is, that XRP can be actually used for something else than trading XRP, it can be used to trade everything else too. That makes it inherently more valuable despite the fact that it is centrally controlled.

I only ask because i'm paranoid about loads of people being paid off and also some of the people come on here are apart of the Ripple team and have hundreds of millions XRP.

I'm not sure that a crypto-currency needs another use. The whole point is that faith and the network effect gives Bitcoin and others their value and we don't need them to hold duel lives where they can do something else.

The additional uses for Ripple are WAY overblown IMO.

[sohaib38]

Ripples were going up steadily until a couple of days ago and now going down in value.