Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Coinseeker]

Is Ripple actually gaining any traction as a payment network?

I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it..

Are there any stats about this out there?

This is a common misconception of XRP and the Ripple network.  

The goal of Ripple is not to get people to accept XRP as payment.  That is not necessarily what XRP is for, nor is that what the Ripple network is about.  Ripple is for providing access to ANY currency not just one.  So for Bitcoiners, you could pay a business connected to the Ripple network, that dosen't even accept BTC, with BTC.  The business would receive on their end, any currency they choose.  XRP can be used to facilitate that trade, assuming that is the cheapest path.  Or, if liquidity exists, and it's the cheapest path, BTC -> USD or EUR or whatever the receiving business accepts.

Remember, Ripple is still in deep beta so "traction" is not something that I suspect is being pushed.  Their investor list is quite impressive however, so from that perspective, their traction is quite good.

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[Coinseeker]

Can somebody actually explain what XRP is other than another centralized e-currency like Liberty Reserve?

It's a built in currency to prevent spam.  For every transaction on the Ripple network a small amount of XRP is destroyed.  This makes it expensive to DDoS the system, for example, and the network can also increase this fee based on load.

It is also the only native currency and can be used as such without trust lines.

[ChartBuddy]

[Voodah]

First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose.  USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for.  I say this because it's important to know what you're investing in.  It's not Bitcoin.  It's a true protocol like http, not a single crypto currency.

Is Ripple actually gaining any traction as a payment network?

I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it..

Are there any stats about this out there?

It's not, and it shouldn't.

It is closed-source, centralized, has a currency called XRP that is 100% premined and in the hands of the creators, and the whole thing is owned by a for-profit company.

Yeah, I know all about XRP, I find it disgusting as well.

It is also the only reason they have the VC backing.

Big scheme if you ask me.

I was just wandering if they'd been through some recent growth which might have escaped me... but guess not, it's still the same bs.

[Coinseeker]

Yeah, I know all about XRP...

It would actually seem you know nothing about XRP or Ripple, given the ignorant question you asked.  

[Kazu]

Can somebody actually explain what XRP is other than another centralized e-currency like Liberty Reserve?

It's a built in currency to prevent spam.  For every transaction on the Ripple network a small amount of XRP is destroyed.  This makes it expensive to DDoS the system, for example, and the network can also increase this fee based on load.

It is also the only native currency and can be used as such without trust lines.

Okay? So Liberty Reserve had a 1 cent fee, that prevented DDoS (at least, by making tons of transactions) as well.

I really don't get it.

[Coinseeker]

Okay? So Liberty Reserve had a 1 cent fee, that prevented DDoS (at least, by making tons of transactions) as well.

I really don't get it.

You really don't get what?  That preventing DDoS attacks is good?

Look, I know many Bitcoiners have a hard time thinking beyond anything Bitcoin.  I get that.  What Ripple represents is true freedom to use ANY currency you want.  This may fly in the face of those with the delusion that Bitcoin will be the "one world currency" but I assure you, it is a delusion.  

People want choice.  People want options.  Ripple gives them options...any option of the currency(s) of their choice.  If you don't like XRP, don't use it.  If you don't like USD, don't use it.  Use whatever you want and the receiver on the other end of that transaction can receive whatever currency they like.

If you're against freedom of choice and just want to jam one currency down everyone's throat, you'll hate Ripple.  But if you like freedom to choose for yourself and think everyone should have the same freedom, you'll love Ripple and you'll see it's not a competitor to Bitcoin, but a compliment.  It took me awhile to understand that but then again, I had to actually take the time to understand the purpose of the network.    

[ChartBuddy]

[SGExodus]

Bring Ripple discussion elsewhere.   If it is really good, it will emerge as winner.  Time will tell.

[Coinseeker]

Bring Ripple discussion elsewhere.   If it is really good, it will emerge as winner.  Time will tell.

Emerge as the winner of what?  Is there a competition going on I'm not aware of?

[gandhibt]

First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose.  USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for.  I say this because it's important to know what you're investing in.  It's not Bitcoin.  It's a true protocol like http, not a single crypto currency.

Is Ripple actually gaining any traction as a payment network?

I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it..

Are there any stats about this out there?

It's not, and it shouldn't.

It is closed-source, centralized, has a currency called XRP that is 100% premined and in the hands of the creators, and the whole thing is owned by a for-profit company.

Is this not a problem for you Coinseeker? If not then wtf are you doing on bitcointalk? This is the most important thing about bitcoin, besides it can't be printed from ass, and you think it's just irrelevant?

I think, you just like to be a troll and that makes me stupid, because i'm feeding you.

[ChartBuddy]

[BitPirate]

First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose.  USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for.  I say this because it's important to know what you're investing in.  It's not Bitcoin.  It's a true protocol like http, not a single crypto currency.

Is Ripple actually gaining any traction as a payment network?

I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it..

Are there any stats about this out there?

It's not, and it shouldn't.

It is closed-source, centralized, has a currency called XRP that is 100% premined and in the hands of the creators, and the whole thing is owned by a for-profit company.

Is this not a problem for you Coinseeker? If not then wtf are you doing on bitcointalk? This is the most important thing about bitcoin, besides it can't be printed from ass, and you think it's just irrelevant?

I think, you just like to be a troll and that makes me stupid, because i'm feeding you.

I've always had the same question, but for different reasons. At first I thought, maybe, something like this. However, he gushes about Ripple....

[ChartBuddy]

[vokain]

inches....but progress! 

[Voodah]

Uhmm... so... we gonna retest 99-100?

[ChartBuddy]

[4mherewego]

DING DING DING, 5k buy at $97

[gandhibt]

Uhmm... so... we gonna retest 99-100?

Maybe when there's enough bids the selling starts... There's now 20 kBTC to 90.

EDIT. Bitstamp goes to 0 with 20 kBTC sell =)

[Pompobit]

a wild buy wall appears