Ripple exchange rate?

[The Fool]

What's a ripple worth at this time? Rather, how much would 1000 ripples be worth? Any exchanges opening up?

[davout]

What's a ripple worth at this time? Rather, how much would 1000 ripples be worth? Any exchanges opening up?

Can I interest you in some testnet Bitcoins ?

[molecular]

What's a ripple worth at this time? Rather, how much would 1000 ripples be worth? Any exchanges opening up?

I have a slight suspicion this questions misses the point. I'm not sure, though. While XRP seems to be a commodity like bitcoin, I'm not sure it will/should be used as money.

Maybe someone can explain... does it make sense to "value" XRP. Will its value somehow increase with ripples possible success? Or is it just a spam-prevention-measure?

[Spekulatius]

What's a ripple worth at this time? Rather, how much would 1000 ripples be worth? Any exchanges opening up?

I have a slight suspicion this questions misses the point. I'm not sure, though. While XRP seems to be a commodity like bitcoin, I'm not sure it will/should be used as money.

Maybe someone can explain... does it make sense to "value" XRP. Will its value somehow increase with ripples possible success? Or is it just a spam-prevention-measure?

Sure it has many of Bitcoin's properties and if only it had those of "unusual hats" it would still be used as currency. For example Sending Ripples through the network doesnt require you to find any gateway and fund it. Thats an advantage over other currencies supported so far.

[ribuck]

... does it make sense to "value" XRP. Will its value somehow increase with ripples possible success? Or is it just a spam-prevention-measure?

It can't work as a spam prevention measure unless it has some scarcity. And if it has some scarcity, then it has some value. And if it has some value, then it will find its exchange rate.

I think the exchange rate will be volatile for some time. We don't know how useful ripple will be, and we don't know how quickly XRPs are going to be given away.

Assuming ripple is successful, the value (after all of the XRP giveaways have been done) should increase gradually because XRPs are destroyed when they are used to pay for transactions.

A very optimistic exchange rate could be estimated by assuming parity between the "market capitalization" of BTC and XRP. If 21 million BTC have a market cap of $600 million as at present, then 100 billion XRP might have a similar market cap. This would value each XRP at $0.006.

[molecular]

A very optimistic exchange rate could be estimated by assuming parity between the "market capitalization" of BTC and XRP. If 21 million BTC have a market cap of $600 million as at present, then 100 billion XRP might have a similar market cap. This would value each XRP at $0.006.

This has probably been answered many times over, but doesn't this make the developers (or whoever has the power to issue XRP) incredibly rich and powerful?

[Spekulatius]

A very optimistic exchange rate could be estimated by assuming parity between the "market capitalization" of BTC and XRP. If 21 million BTC have a market cap of $600 million as at present, then 100 billion XRP might have a similar market cap. This would value each XRP at $0.006.

This has probably been answered many times over, but doesn't this make the developers (or whoever has the power to issue XRP) incredibly rich and powerful?

With ONLY 20% of all Ripples in existence!??

Let me get a calculator...

[molecular]

A very optimistic exchange rate could be estimated by assuming parity between the "market capitalization" of BTC and XRP. If 21 million BTC have a market cap of $600 million as at present, then 100 billion XRP might have a similar market cap. This would value each XRP at $0.006.

This has probably been answered many times over, but doesn't this make the developers (or whoever has the power to issue XRP) incredibly rich and powerful?

With ONLY 20% of all Ripples in existence!??

Let me get a calculator...

yes

20E9 * 0.006 = 120 million $

also: coinbase (?) is holding the other 80%. They are giving out chunks of 50,000 to anyone that wants some. Let's say 10,000 people are getting 50,000 each. Thats 500 million. That's still only 0.5% of all ripples, so coinbase is still holding 79.5% after the giveaway.

If ripples are indeed going to be valued at $0.006 that's quite a wealth-grab: 120 million $ for the devs, 477 million $ for coinbase.

I doubt they will be value $0.006, though. The 50,000 giveaway would be $600 for each person.

EDIT: such value would require ripple to be at least as successful as bitcoin. Comparison: taken satoshi has 1 million BTC (5% of all coins), he's now "got" 1E6 = 28 million $.

[Spekulatius]

also: coinbase OpenCoin Inc. (? !) is holding the other 80%.

FTFY

[molecular]

also: coinbase OpenCoin Inc. (? !) is holding the other 80%.

FTFY

goddamnit. first I mix up bitinstant and bistamp, then coinbase and opencoin.

thanks for telling me.

[markm]

I might not recall quite right, but they seemed to suggest that 40% of the total will be given away (50% of those held by the company).

Maybe it could end up somewhat like shares, if you tore up a tiny fraction of a share each time you consumed some of the company's services? By consuming instead of passively just owning, you are to the extent you consume acting like a consumer not an owner, so you tear up some tiny fraction of one of the hundred billion shares of the company.

Since the plans so far seem to leave "them" holding more than 50% of all of these "shares", it is not even inconceivable that at some future time these "shares" could even become voting shares without knocking the existing board of directors out of the boardroom.

How many of Apple's shares, Facebook's shares, Microsoft's shares and so on and so on did (and customarily do) the incumbents retain when handing out shares?

(Lets not even consider they tend to charge more than "one forum post, please!" per 50,000 shares...)

-MarkM-

EDIT: I am talking about shares in the community, basically musing on what if we look at the ripple network's built in community currency as potentially being imagined as shares rather than as currency. NOT talking about corporation shares of the corporation OpenCoin or whatever that happens to own a bunch of these XRP things.

[neotrix]

Really interessant thread  I'm so impressed by the concept, not technically but about the idea. Anyway at market cap as I readed in the thread it means opencoin inc and the dev will keep minimum 50% which could worth soon or later 300 millions usd if btc worth 30 usd...so like 1 billion if btc worth 100 usd each.

Genius but wow...no word, Impressive