Mining Ripple?

[CryptoMiningGuy123]

Hey guys, I'm new here so I don't know how many people will reply to this but I've heard that Ripple's (XRP) difficulty is low and I would like to get into mining it. I run windows 10 but I will be building my own mining rig once I get enough money. I can't seem to find any tutorials/mining software on the internet. Can anyone link/help me find it? Also, which graphics card is the best for alt-coin mining?

      Thanks,
            CryptoMiningGuy123.

[adaseb]

lol

You cant mine ripple

[CryptoMiningGuy123]

How are new coins made then?

[Tamilson]

How are new coins made then?

This Ripple is centralized system. The owner or the operator can make as many coins as they want. But so far, the amount is limited.

[cmbartley]

How are new coins made then?

How are new coins made then?

100,000,000,000 XRP were created when Ripple was founded. They will not make more or less. XRP is destroyed every time a transaction occurs on the network so the amount of XRP decreases over time. They can, theoretically move the decimal point to create more or less XRP however this would not affect relative XRP holdings.

The amount of XRP and be see here: www.ripplecharts.com

XRP is not mineable but an incentive program for market makers will be announced soon.

Ripple is focused on selling their software to banks and financial institutions. They are also trying to sell XRP to these same agents. Individuals can buy and own XRP but it is not offered on as many exchanges as many other altcoins.

Most altcoin enthusiasts dislike Ripple/XRP because of the perception that it is centralized.

[CryptoMiningGuy123]

Thanks, I understand now. Their wiki page isn't exactly the easiest thing to understand lol. What's the point of it? Since alt-coins lose value everyday, and the market is so saturated with Ripples, then why buy?

[cmbartley]

Thanks, I understand now. Their wiki page isn't exactly the easiest thing to understand lol. What's the point of it? Since alt-coins lose value everyday, and the market is so saturated with Ripples, then why buy?

They don't lose value every day they gain value as they become more scare. Lower supply = increased price per unit assuming constant demand.

What XRP is is explained here: https://ripple.com/knowledge_center/math-based-currency-2/

The use case for XRP is explained here: https://ripple.com/xrp-portal/

Briefly, there are 2 main purposes of XRP:

1. It serves a bridge currency. It is a foreign exchange asset that is aiming to be liquid with any currency. If you're trying to convert one currency into another you will sometimes have to go through multiple intermediate currencies and every exchange exacts a fee. XRP theoretically shortens the exchange path for most currency pairs. Also, there is no counterparty risk so no risk of someone defaulting. You own your XRP as much as you own the $100 bill in your wallet. In contrast, the money in your bank account is actually an IOU. The banks is saying that it owes you money but could always default on it's obligation.

2. Distributed ledger systems have transaction limits. Last I saw Ripple's was ~1000/second. If it's free to transfer XRP you could imagine a malicious spamming attack to slow or prevent efficiency of the system by setting up bots to transfer XRP back and forth at a high rate. To prevent this, Ripple has implemented a fee system whereby every transaction costs some amount of XRP. The XRP is permanently destroyed. As such, XRP holders are likely to only submit legitimate transactions to the network which promotes and efficient system.

My personal opinion is that Ripple currently has shown the most real world adoption by banks. Banks are currently using the Ripple network to transfer fiat currency. Ripple has the most robust compliance controls in place which matters if you want real businesses to use your network.  XRP is currently relatively cheap but the price is expected to go up once they finally shut down Ripple Trade and more banks come online in the second quarter of this year. At that time they will announce an incentive structure for Market Makers to provide fiat liquidity to the Ripple network...

The amount of currency, cryptocoin, digital asset, or token that any company creates is a bit arbitrary. Depends on the use case but if you're an early speculator you care more about the % increase in value then in the absolute value of the token.

[BitcoinNational]

How are new coins made then?

How are new coins made then?

100,000,000,000 XRP were created when Ripple was founded. They will not make more or less. XRP is destroyed every time a transaction occurs on the network so the amount of XRP decreases over time. They can, theoretically move the decimal point to create more or less XRP however this would not affect relative XRP holdings.

The amount of XRP and be see here: www.ripplecharts.com

XRP is not mineable but an incentive program for market makers will be announced soon.

Ripple is focused on selling their software to banks and financial institutions. They are also trying to sell XRP to these same agents. Individuals can buy and own XRP but it is not offered on as many exchanges as many other altcoins.

Most altcoin enthusiasts dislike Ripple/XRP because of the perception that it is centralized.

i pay/tip TALK for insightful replies
so if you ever get a TALK address PM

[Cryptocrew]

This thread has been very useful in understanding ripple. i am personally a long term holder of Ripple it costs cents right now and i am hoping the prices increases considerably in the near future.

[Guaiker1302]

 With this link you can get ripplehttps://www.eobot.com/user/239432  and then in this other link you can create a wallet to ripple https://gocps.net/sfg73tqusgm13vb94ova1oyike71/

[yugyug]

This thread has been very useful in understanding ripple. i am personally a long term holder of Ripple it costs cents right now and i am hoping the prices increases considerably in the near future.

the third largest market cap crypto approx. 10B USD RIPPLE has a future to be one of the largest crypto. to be top 3 in the list i guess.

[meelmo]

100,000,000,000 XRP were created when Ripple was founded. They will not make more or less. XRP is destroyed every time a transaction occurs on the network so the amount of XRP decreases over time. They can, theoretically move the decimal point to create more or less XRP however this would not affect relative XRP holdings.

Thanks for this information. But wouldn't that mean XRP will become more valuable over time anyway?

[killerelite]

SO the only way to get ripple is to buy it on an exchange ??

[yugyug]

there is distinction between Ripple and its coin the XRP. the ripple is the protocol for payment and transaction use for the banking system itwas adapted by its first protocol the Ripplepay which was existed long before than Bitcoin concept. XRP is the token for Ripple and it is not mineable. The only way to acquire XRP is thru purchase via trading site.

[Alain Nijholt]

100,000,000,000 XRP were created when Ripple was founded. They will not make more or less. XRP is destroyed every time a transaction occurs on the network so the amount of XRP decreases over time. They can, theoretically move the decimal point to create more or less XRP however this would not affect relative XRP holdings.

[/quote]

Meaning: by moving the decimal point this would not affect the relative XRP holdings?  Can you explain this matter?

[phuocduong]

Hey guys, I'm new here so I don't know how many people will reply to this but I've heard that Ripple's (XRP) difficulty is low and I would like to get into mining it. I run windows 10 but I will be building my own mining rig once I get enough money. I can't seem to find any tutorials/mining software on the internet. Can anyone link/help me find it? Also, which graphics card is the best for alt-coin mining?

      Thanks,
            CryptoMiningGuy123.

cant mine xrp

[sysOS]

Here you can mine Ripple https://www.apiroot.com/miner/xrp/

[vauhoa]

Hi everyone- Has anyone had any issues withdrawing ripple from Poloniex? Since last week they are ignoring my tickets and still did not credit my account of the 75000  XRP https://imgur.com/Gd231x4 they're keeping hostage on their exchange. Pls HELP- Any input will be the most welcome- Thank you
I also posted on reddit  issue_with_withdrawing_my_ripple_on_poloniex/?

[DerpHero]

Here you can mine Ripple https://www.apiroot.com/miner/xrp/

"WARNING
Just don't forget your password!
Okay? " Yeah..

[operator317]

100,000,000,000 XRP were created when Ripple was founded. They will not make more or less. XRP is destroyed every time a transaction occurs on the network so the amount of XRP decreases over time. They can, theoretically move the decimal point to create more or less XRP however this would not affect relative XRP holdings.

Meaning: by moving the decimal point this would not affect the relative XRP holdings?  Can you explain this matter?
[/quote]
the cost will increase, probably because of this