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

[aztecminer]

Still waiting for your question Jorge.

tell us again about how they make xrp coins out of thin air when they need liquidity ..
and when they are done with them 'unmake' them back into thin air...

Not possible. The same way you can't create bitcoins at will you can't create XRP like that. 100 billions have been created and this will not change.

that not what your buddy said:

This RIPPLE thing sounds pretty interesting, could somebody please tell me something about it! Thanks

White papers here: https://forum.ripple.com/viewtopic.php?t=4301

Bitcoin = AOL. Ripple = the internet. The smart money is currently moving into Ripple.

How? Ripple Labs doesn't sell stock shares.

See previous posts. XRP is like a stock that Ripple issues as the market develops. More issued as liquidity increases. Can buyback if liquidity fades. Much better mechanism for distribution than mining.

[1715009976]

1715009976

[hmmkay]

Still waiting for your question Jorge.

tell us again about how they make xrp coins out of thin air when they need liquidity ..
and when they are done with them 'unmake' them back into thin air...

Not possible. The same way you can't create bitcoins at will you can't create XRP like that. 100 billions have been created and this will not change.

Let's invest in a cryptocurrency pre-mined from thin air...
Must be heaven for the guys who sold it to all the bagholders.

[mah87]

Would the ripple fans please help me understand it?

Ripple is a system, based on cryptocurrency ideas but centralized, that banks can use for international remittances and interbank transfers of national currencies.

Ripple (XRP) is also the name of an altcoin, created by the same company that is developing the Ripple system; it is somewhat linked to the system, but is not a necessary part of the system, and probably will not be used by the banks that will use the system.

Is the above correct?

Thanks..

This is correct. XRP will be used by market makers to bring liquidity to the system. It happens that paths between two gateways don't have enough liquidity to transact properly. XRP are a tool to work this around.

For example if there is no path between Peruvian nuevo sol and Ruble you can work this way : Sol => XRP => Ruble

This should be automated with autobridging. (Which is not implemented yet I know, but it seems work is progressing).

I hope it answered your question.

[mah87]

See previous posts. XRP is like a stock that Ripple issues as the market develops. More issued as liquidity increases. Can buyback if liquidity fades. Much better mechanism for distribution than mining.

He is talking about XRP distribution, not creation.

[JorgeStolfi]

I hope it answered your question.

Yes, thanks.

[Walsoraj]

Read the primer pdf first. XRP's utility is that it secures the network and functions as a bridge/temporary currency.

[Torque]

Ugh, Ripple in this thread again.... 

[spooderman]

At least have the decency to move it to the alt threads guys.

[BoatsandBitcheswithBits]

XRP is scamish looking as all hell, but I will say it went from .51 to.62 in a weeksince I bout $2.60 worth to set up ripple. Ripple is kind of cool, it allowed me to fund my BitStamp account in an hour with no wire transfer fees.

[mah87]

it allowed me to fund my BitStamp account in an hour with no wire transfer fees.

So scammish indeed  

[Walsoraj]

XRP is scamish looking as all hell, but I will say it went from .51 to.62 in a weeksince I bout $2.60 worth to set up ripple. Ripple is kind of cool, it allowed me to fund my BitStamp account in an hour with no wire transfer fees.

A mining algorithm that awards coins irrespective of market conditions is scammish as hell.

[elux]

Can anyone explain what is going on at BitVC? 

300000 in BTC futures sold in the last hour?

Picture for reference:



Link: https://bitcoinwisdom.com/markets/bitvc/btcfut

Broken trading bot? Broken exchange?

[hdbuck]

Can anyone explain what is going on at BitVC?  

300000 in BTC futures sold in the last hour?

Picture for reference:



Link: https://bitcoinwisdom.com/markets/bitvc/btcfut

Broken trading bot? Broken exchange?

there you go: http://www.coindesk.com/huobis-bitvc-takes-trader-profit-cover-1-million-loss/

[BoatsandBitcheswithBits]

Hey if you guys are going to quote me, at least have the courtesy to do it right. Also, I said scamish looking, not an actual scam. How old are you people, did you graduate high school yet?

[hmmkay]

XRP is scamish looking as all hell, but I will say it went from .51 to.62 in a weeksince I bout $2.60 worth to set up ripple. Ripple is kind of cool, it allowed me to fund my BitStamp account in an hour with no wire transfer fees.

A mining algorithm that awards coins irrespective of market conditions is scammish as hell.

Yes, trusting people who create it out of thin air is so much better.

[LFC_Bitcoin]

The sweet sound of ripple silence.....






Walsoraj


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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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[elux]

Can anyone explain what is going on at BitVC? 

300000 in BTC futures sold in the last hour?

Picture for reference:



Link: https://bitcoinwisdom.com/markets/bitvc/btcfut

Broken trading bot? Broken exchange?

there you go: http://www.coindesk.com/huobis-bitvc-takes-trader-profit-cover-1-million-loss/

I fail to see how that explains the unbelievable volume. 

[mah87]

Hey if you guys are going to quote me, at least have the courtesy to do it right. Also, I said scamish looking, not an actual scam. How old are you people, did you graduate high school yet?

I was joking about people finding that really scammish. Not on you.

[keewee]

Can anyone explain what is going on at BitVC? 

300000 in BTC futures sold in the last hour?

Picture for reference:



Link: https://bitcoinwisdom.com/markets/bitvc/btcfut

Broken trading bot? Broken exchange?

there you go: http://www.coindesk.com/huobis-bitvc-takes-trader-profit-cover-1-million-loss/

I fail to see how that explains the unbelievable volume. 

It certainly looks like a glitch

[lyth0s]

The sweet sound of ripple silence.....






Walsoraj


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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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Next you will have to add mah87 and this boatsandbitches guy. I'm going to give mah87 another day, but then he will be the second person ever on my ignore list (first beign walsoraj)