Ripple releases 333 million more Tokens

[mmortal03]

On the 8'th of april 2015 there was 31,908,551,587 XRP.
Today there are 38,305,873,865.
Which is a 20% increase.

Take litecoin.

37,993,004 on 8'th of april 2015.
Today there are 51,112,832.
So you have 35% increase.

In practise.. Lite coin have had a much more severe inflation, but somehow thats more ok?
Just because they can prove they did the planet more shitty with electric waste?

There are good reasons for why allowing a centralized entity to release coins on whatever schedule they want is worse than allowing anyone to mine coins on a pre-determined, predictable, algorithmically limited basis.

You talk about ideas. I talk about reality.

Reality is that ripple has less inflation than litecoin.

I'm not a big fan of Litecoin, but I do like Litecoin as a testnet for SegWit. That being said, you're completely missing the point about inflation in cryptocurrencies. Litecoin's emission schedule is predictable. Ripple's is not. One of the main reasons for having cryptocurrencies is to have something that avoids a government or centralized party's whims in terms of inflating their currency supply.

[AmarO]

So many things can go wrong with this XRP currency lol. Even the developer admits that it can easily flop in his posts haha worthless speculative crap. Invest in something with substance. XRP real value should be less than 1c.

[AmarO]

Hype doesn't last forever.. Now some recent quotes from Edward Schwartz of Ripple, 2 hours ago....

Question: "AFAIK, not a single pizza has been bought with XRP. This seems to be speculation that banks will adopt the ripple protocol as a replacement for swift settlements and XRP would serve as a reserve currency. Even if banks where to do this one day,  and Im sure they will do something similar eventually, why on earth would they use the Ripple as is, and buy in to your $24B blockchain, when they can just as well fork ripple code, adapt it to their needs,  create their own token and not be dependant on a small startup like ripple labs that controls 60% of that reserve currency?" - FACTS

Answers: "I'm sure banks probably will try that. And we'll have to compete with everyone else's efforts on the level playing field that we expect ILP to create. Consortiums of banks will likely claim market share in the jurisdictions in which they operate. So expecting XRP to capture, say, large USD->EUR flows early might be unreasonable. Banks will probably do that super-efficiently for the foreseeable future." - Banks Wreck XRP

"If it's backed, there's no way to benefit from its increase in value" - no way to be hurt by a decrease in value either, banks want stability they want a backed coin.

"I can't promise we'll be able to pull it off, but we're going to try. Right now, Ripple's XRP has a notional value of something like $14 billion. We have every incentive to try to increase and realize that value." - keep pumping out the media hype which will lead to coin pumps and then the zombie army(cult following who has made some short-term profit off XRP hype).



Future Projections: 1) Banks just use the Ripple network and or someone elses' to cut money transfer costs, no coin 2) Banks use their own backed coins on Ripple or someone elses' Network, 3) Something New

Most likely many companies will split market share in the industry using this new technology. XRP will fail, might as well buy a lottery ticket instead.

[cabron]

Why on earth would banks use the Ripple as is when they can make their own?
Well they already use it. The could really fork Ripple in less than a day and they could have their own chain yet not. Easypeasy Japanesee are buying right now. Join the pun.

[jjacob]

Why on earth would banks use the Ripple as is when they can make their own?
Well they already use it. The could really fork Ripple in less than a day and they could have their own chain yet not. Easypeasy Japanesee are buying right now. Join the pun.

Japanese may be fueling the rise, but the problem is the contagion effect. If XRP goes down, it is unlikely that it will be an isolated crash. It could take down a lot of alts (and maybe Bitcoin as well). Right now, everybody is having a party.

[iluvpie60]

ripple is centralized it's bad, i would not invest there ever, i hear that it's only used to pay their employees, it has no real use, not even for speculation, all i see there on coinmarketcap is the dumping for this coin, just forget it focus on better altcoin

That is pretty much what i have read too. Who wants to use a coin that is only used for paying their own employees. Its like getting free workers and paying them with free money. I mean really once they made xrp they didnt habe to much beyond try to look good. Now that tra slates into btc somehow. Who knows.

[jjacob]

ripple is centralized it's bad, i would not invest there ever, i hear that it's only used to pay their employees, it has no real use, not even for speculation, all i see there on coinmarketcap is the dumping for this coin, just forget it focus on better altcoin

That is pretty much what i have read too. Who wants to use a coin that is only used for paying their own employees. Its like getting free workers and paying them with free money. I mean really once they made xrp they didnt habe to much beyond try to look good. Now that tra slates into btc somehow. Who knows.

At one point, people used the description of "free money" or "funny money" to describe Bitcoin too. 
I too think that XRP is overpriced, but then the market works in strange ways.

[mmortal03]

ripple is centralized it's bad, i would not invest there ever, i hear that it's only used to pay their employees, it has no real use, not even for speculation, all i see there on coinmarketcap is the dumping for this coin, just forget it focus on better altcoin

That is pretty much what i have read too. Who wants to use a coin that is only used for paying their own employees. Its like getting free workers and paying them with free money. I mean really once they made xrp they didnt habe to much beyond try to look good. Now that tra slates into btc somehow. Who knows.

At one point, people used the description of "free money" or "funny money" to describe Bitcoin too.  
I too think that XRP is overpriced, but then the market works in strange ways.

Right, but like what people have just said above, it seems that Ripple wants to have it both ways; to have the hype of a cryptocurrency, but without the supposed bad image that comes with the censorship resistant and regulatory arbitraging properties that actually underlie Bitcoin's success. They want to somehow appeal to the banks or even governments, but, like what has been said above, the banks or governments likely don't want to deal with such a company run system, they will likely want to build their own system, one without the baggage or costs of Ripple. Given this, is there really a practical, long term trajectory for success for Ripple, wherein they will actually provide a sustained efficiency to customers that cannot be better solved by other means? I don't think so.

[LetsRoll]

ripple is centralized it's bad, i would not invest there ever, i hear that it's only used to pay their employees, it has no real use, not even for speculation, all i see there on coinmarketcap is the dumping for this coin, just forget it focus on better altcoin

That is pretty much what i have read too. Who wants to use a coin that is only used for paying their own employees. Its like getting free workers and paying them with free money. I mean really once they made xrp they didnt habe to much beyond try to look good. Now that tra slates into btc somehow. Who knows.

At one point, people used the description of "free money" or "funny money" to describe Bitcoin too. 
I too think that XRP is overpriced, but then the market works in strange ways.

The price of XRP is doing well right now while most other altcoins and bitcoin are dropping. What's keeping the ripple price high?

[styca]

The price of XRP is doing well right now while most other altcoins and bitcoin are dropping. What's keeping the ripple price high?

Today it's South Koreans.

[styca]

The price of XRP is doing well right now while most other altcoins and bitcoin are dropping. What's keeping the ripple price high?

Today it's South Koreans.

Sorry, that was needlessly cryptic. I mean it's launched on South Korean exchanges.

[jameshowlett]

Oh nice. That is why I never ever put my fate in XRP. When Ripple wants to release more coin, they can easy do that without any permission from users. XRP is not a coin, it is a disaster, you will all lose your money in this coin

[Calangaman]

Oh nice. That is why I never ever put my fate in XRP. When Ripple wants to release more coin, they can easy do that without any permission from users. XRP is not a coin, it is a disaster, you will all lose your money in this coin

+1
I wish this could be conveyed in japanese or korean to our far east friends

[andyatcrux]

Why on earth would banks use the Ripple as is when they can make their own?
Well they already use it. The could really fork Ripple in less than a day and they could have their own chain yet not. Easypeasy Japanesee are buying right now. Join the pun.

Japanese may be fueling the rise, but the problem is the contagion effect. If XRP goes down, it is unlikely that it will be an isolated crash. It could take down a lot of alts (and maybe Bitcoin as well). Right now, everybody is having a party.

This. This is exactly the concern of a lot of people, including myself. I don't "FUD" on XRP to hurt people's investment or too get cheap coins. There is a very good chance that a calamity that wrecks new investors will deflate enthusiasm for cryptocurrency as a whole. This should be of great concern to everyone.

[God27]

you will all lose your money in this coin

Not all. Some People are in at $0.006

Nice try, but try again. This time dont generalize.

Remember, some people here aren't in this just to make money.

XRP can drop to $0.03 tomorrow, oh well.

It's funny seeing all these people hating on ripple for their own EPIC reasons. While others have sat quietly making 35x their money in the last 2 months.

All while ripple has distributed xrp openly going on 4 years now and people still say this is new.

So ripple selling/loaning hundreds of millions of XRP weekly at or around market price to institutions is a bad thing?
No, it's called demand.

At the same time, consumers all around the world are buying xrp at $0.25 thinking its cheap not knowing there is 99.9billion compared to max 21million btc.

It's not ripples fault these millenials would rather have a few thousand xrp that can be settled in seconds compared to 0.001 btc that has been stuck for last 48 hours.

[Spoetnik]

XRP only serves to make ripple rich, it has no real world use and its volatility shows just how much its ruled by speculation rather than any fundamentals. Ripple still have over 60 billion XRP to release at their convenience, I just don't understand why people are stupid enough to buy them.

And they should be rewarded for their work. Not like the mining coins where you make the electric companies rich for no good reason at all.

Miners provide a service.. securing the block-chain and making the transactions move etc.
In turn they are paid.

Miners that buy hardware to mine are showing their support by investing in hardware.

Waste of power ? Sure.. but there really isn't a better way yet.
Except Prime Coin or Grid Coin etc.
But you think Ripple's bullshit is an improvement ? I gotta laugh at your ass now  

And mmortal03.. good points especially about predictability vs random dumping by Ripple inc.

Why on earth would banks use the Ripple as is when they can make their own?
Well they already use it. The could really fork Ripple in less than a day and they could have their own chain yet not. Easypeasy Japanesee are buying right now. Join the pun.

Japanese may be fueling the rise, but the problem is the contagion effect. If XRP goes down, it is unlikely that it will be an isolated crash. It could take down a lot of alts (and maybe Bitcoin as well). Right now, everybody is having a party.

I asked before if they could delete coins.
Look at it ..they are playing Federal reserve.
If the price needs to be controlled they issue more..
But what if they need to increase the price ?
Uhhh ohhh we have a problem LOL
We have a handicapped psuedo-fed reserve who can only add and not subtract coins.  
And wasn't all of this about them creating a coin with a stable value anyway ?
Isn't that the big defense ?

What will happen when the want the price to increase ?
Look around
You are lookin' at it.. pumpidty pump LOL
Yeah professional shit right there hahahahhahahha


And banks don't need Ripple.
They already have their own systems.. and plenty of alternatives.
Why would they dump all the options they already use in favor of Ripple ?

[anahata]

you will all lose your money in this coin

At the same time, consumers all around the world are buying xrp at $0.25 thinking its cheap not knowing there is 99.9billion compared to max 21million btc.

This statement alone should be an eye-opener for the lot here who are praising ripple. The circulation supply is little over 38 billion, giving xrp market cap of 9 billion$. Taking 99.9 billion available supply into account, market cap will be just shy of 25 billion$. Bitcoin has 28 billion$ mc. Whoever is thinking that xrp will be worth 0.5-1$ in future, please come out of your slumber, that would mean 50-100 billion$ market cap. Entire crypto does not have 100 billion$ market cap right now.

Now ask yourself if xrp will reach 100 billion$ market cap in future? There are far better projects there where ROI will be much higher in future.

[SoMuchDerp]

This scam will get the Kill Switch flipped any day now if it comes out that market makers and Ripple have violated this agreement. Enjoy getting REKT.

On May 5, 2015, FinCEN fined Ripple Labs and XRP II US$700,000 for violation of the Bank Secrecy Act,[31] based on the Financial Crimes Enforcement Network's additions to the act in 2013.[51] Ripple Labs agreed to remedial steps to ensure future compliance, which included an agreement to only transact XRP and "Ripple Trade" activity through registered money services businesses (MSB), among other agreements such as enhancing the Ripple Protocol.[31]

Yes. KILL SWITCH. This is not decentralized crypto and has a central point of failure.

[Spoetnik]

This scam will get the Kill Switch flipped any day now if it comes out that market makers and Ripple have violated this agreement. Enjoy getting REKT.

On May 5, 2015, FinCEN fined Ripple Labs and XRP II US$700,000 for violation of the Bank Secrecy Act,[31] based on the Financial Crimes Enforcement Network's additions to the act in 2013.[51] Ripple Labs agreed to remedial steps to ensure future compliance, which included an agreement to only transact XRP and "Ripple Trade" activity through registered money services businesses (MSB), among other agreements such as enhancing the Ripple Protocol.[31]

Yes. KILL SWITCH. This is not decentralized crypto and has a central point of failure.

I was just eluding to them using clandestine methods to manipulate the price..
Who do you all think is pumping it etc ?
Probably the guys who got free coins when it launched.

How much did they hand out on the great giveaway debacle ?
I never got fuck all when they forced me to sign up using my email etc.

EDIT: I signed up for the giveaway back then in 2013 just after i got here.

Think about it.. they are pumping it or otherwise using sketchy means to drive the price up i almost certain.. and... releasing more coins.
So they can add coins but can't take them away and need to use shady means to affect the price.
Or they risk violating that agreement quoted.
So i am saying if they are investigated and get caught pumping it etc they are in for a world of hurt.
They better hope they are not being watched.

This shit will unravel eventually i think.
It simply shouldn't have existed in the first place.

This is worse than any ICO crap out there because it's not decentralized and open sourced and a currency.
It's some scammy ass ICO free money corporate ledger scheme.

[freeElectron]

Miners provide a service.. securing the block-chain and making the transactions move etc.
In turn they are paid.

Miners that buy hardware to mine are showing their support by investing in hardware.

Waste of power ? Sure.. but there really isn't a better way yet.

Yeah well, I see you believe that, so you can stand on the side line and watch while other services outperform your waste coins.

Talk is cheap and you are full of it, so why don't you hack a non PoW then?