How to Determine Ripple Price?

[Sioux]

Looked around for the best ripple price

1st side that sells ripple is bitstamp.net    BUY 36.000 ripples for 184 Dollars
2nd side I noticed is bitmit.net                BUY 19.200 ripples for 184 Dollars

bitstamp is DOUBLE as expensive as bitmit

How is that possiblle?

And how/where can you see the current ripple price?

[achillez]

I have an entirely different question - why do people want to buy ripples?

[lucazane]

its easy :
in php
function getRipplePrice(){
   return 0;
}
in ruby
def ripple_price
   0
end

[jdebunt]

it's easy to value their price : worthless.

[Vorksholk]

Take a random number, multiply it by the number of Ripples you are interested in, and then multiply by 0.

In all reality, their price crashed a ton lately. There was a time where 5,000 could be easily sold for 1BTC, now a Bitcoin will net around 30,000 on the forums, if I'm not mistaken.

[drawingthesun]

Take a random number, multiply it by the number of Ripples you are interested in, and then multiply by 0.

In all reality, their price crashed a ton lately. There was a time where 5,000 could be easily sold for 1BTC, now a Bitcoin will net around 30,000 on the forums, if I'm not mistaken.

Yeah I got 50,000 in the giveaway, and then Opencoin created a pump and dump and I sold out about 30,000 for 5 Bitcoin near the peak. Still have 20,000 left.

Don't worry if you want to sell at another peak, it will happen. Remember Opencoin only converts Ripple to Bitcoin at a certain threshold [1] and when they need/want more Bitcoin they will pump it again.

[1]:
- I worked out the threshold a while ago. Opencoin, the creators of Ripple and the investors and employees hold around 98,000,000,000 Ripples. When these Ripples are pumped to 5,000 Ripple/Bitcoin this gives them almost the same net-worth as the entire eventual Bitcoin network. Yes thats right! At 5,000 per Bitcoin, they are valued at 20,000,000 Bitcoin (almost all the Bitcoin that will ever exist)
- This means if Opencoin/investors/employees keep converting Ripple to Bitcoin at the peak rates, they will consume all the Bitcoin in the world. Hopefully we are not suckers and they won't get all the Bitcoin, but they have made a huge amount so far. Every ripple you exchange at peak rates is essentially free Bitcoin for them. This is why they have all these investors like Google, they are essentially taking Bitcoin from a bunch of suckers.

[wiggi]

And how/where can you see the current ripple price?

In ripple, if you choose Bitstamp (rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B) as issuer
for BTC/XRP and USD/XRP.

My guess is Ripple/Bitcoin won't go back anywhere near 5000 unless ripple becomes much more awesome.