dilemna with ripple - i just don't get it

[bitwhizz]

i am finding it hard to comprehend how Ripple will gain value
ok so
if each ripple is essentially just a transaction, why is the price so high?
there are 100 billion ripples which is basically 100 billion transactions, why do people think that this is a limited amount of ripples which will increase in value when
 liberty reserve has only done 55 million transactions in its lifespan

it doesn't make sense unless people actually think that on average the whole population of the human race will end up doing just under 20 transaction each

to invest in ripple is pretty much betting that everyone will use it, everyone

so why is the ripple price going up?

[adamstgBit]

Ripple:
  pre mined
  closed source
  centralized
  massive supply
  complicated to use
  hardly functional!


BUY BUY BUY

[RationalSpeculator]

ripple makes no sense

market is wrong often

[Birdy]

Also another giveaway is on the way.
Hey, guys you are going to get lots of them for free! Clear sign that price is skyrocketing, buybuybuy!!
I don't really understand that either o,O

[OnkelPaul]

Ripples can be subdivided to one millionth, and the current transaction fee is 0.00001 XRP, so with ripples for just a few dimes you should be able to do all the transactions for a lifetime.
You need some as a reserve, though, for keeping accounts, credit lines and trade offers. These are not consumed but must be present to be able to use the system.
Both of these mechanisms do not make transactions or accounts expensive, but they should deter some forms of misuse.

In my opinion, the current XRP price is way too high, people are speculating but they don't realize that XRP is pre-mined and there's a lot of it. I don't consider this a bad thing, it just means that XRP are not comparable to bitcoins, they serve a different function.

Onkel Paul

[Odalv]

Vote :-)

a) scam
b) manipulation
c) stupidity

[Frozenlock]

Ripple is good, i made 7.5 btc some days ago selling my free 50,000 ripples  

So... free BTCs? How can I get them? 

[bitwhizz]

Ripples can be subdivided to one millionth, and the current transaction fee is 0.00001 XRP, so with ripples for just a few dimes you should be able to do all the transactions for a lifetime.
You need some as a reserve, though, for keeping accounts, credit lines and trade offers. These are not consumed but must be present to be able to use the system.
Both of these mechanisms do not make transactions or accounts expensive, but they should deter some forms of misuse.

Onkel Paul

Onkel paul, thanks for that, but you have now confused me more, if with a few dimes you can do transactions for a life time, surely the price of ripples should not increase ever,

[MAbtc]

Ripples can be subdivided to one millionth, and the current transaction fee is 0.00001 XRP, so with ripples for just a few dimes you should be able to do all the transactions for a lifetime.
You need some as a reserve, though, for keeping accounts, credit lines and trade offers. These are not consumed but must be present to be able to use the system.
Both of these mechanisms do not make transactions or accounts expensive, but they should deter some forms of misuse.

Onkel Paul

Onkel paul, thanks for that, but you have now confused me more, if with a few dimes you can do transactions for a life time, surely the price of ripples should not increase ever,

Why? This is just for transaction fees. It has nothing to do with the utility of XRP as currency. And it means the supply of ripples will contract over time (ever so slightly).

[bitwhizz]

oh i though he meant that the xrp is divisible to seven decimal places, so essentially people could just send each other 0.00001 ripples as appose to a whole ripple therefore the ripple will never go up in price, could individuals now collectively keep the price of a ripple low to 0.00001 riples per transaction so they don't need to buy more ripples when transacting between each other ? theoretically people can still do that?
also theirs still no logic to the price of a ripple being high due to it its sheer volume from what onkel paul said

[fran2k]

Ripple is good, i made 7.5 btc some days ago selling my free 50,000 ripples  

So... free BTCs? How can I get them? 

Steal the Ripple Source. Make 1 trllion ZRPs. Promote the fork as an Open Source alternative of Ripple. Don't release the code. Profit.

[TheSwede75]

The dilemma isn't that you don't get it. It is that you do. It's a 100% outright scam for the love of god. It is literally 100 BILLION ways for a 2 month old start-up to make 100 million dollars!

[bitwhizz]

The dilemma isn't that you don't get it. It is that you do. It's a 100% outright scam for the love of god. It is literally 100 BILLION ways for a 2 month old start-up to make 100 million dollars!

i agree sounds like a big scam

qoute from name source from another thread

'When transactions become numerous, fees can rise to stabilize the network.
If my calculations are correct it would take the Ripple network 150,000 years to run out of XRP if it was processing an amount of transactions similar to the amount VISA is processing today.'

i just don't get why anyone would invest in ripple enough to  cause a price increase when the price of a ripple should really be static....... so stupid

[soma13]

I think it functions as a universal currency within the system.  All currencies (USD, EUR, BTC) within the ripple platform are IOU's, tokens that represent trust in an issuer.  To clear those trust lines and settle this debt you need to redeem those IOU's.  You need to cash them out and remove them from the ripple platform.  If you want to switch issuers you can trade them within ripple, or cash out and buy back in through another issuer.  XRP offers another avenue to clear those trust lines.  By using the platform you are trusting the ripple network, and ripples tokens (XRP) by default.  This allows XRP fo function as trustless within the ripple network, allowing you to "cash out" without leaving the platform.  It also provides more paths to exchange as any currency or commodity will likely be traded against XRP even if there isn't a direct exchange.  So you can still trade your BTC for pork belly futures even if there is no direct exchange rate because both will have a market with XRP.

Oh yeah, there's reserve too (basically just antispam).

[bitwhizz]

so how does this explain the high  and higher prices per ripple? surely ripple is just a service, and therefore should actually be unlimited in xrp, the 100 billion xrp sounds like jsut a gimmick to me, 100 billion xrp is unlimited i suppose, however if it is unlimited ripple should be pricing the xrp at a fixed unfluctatuted cost, however ripple isn;t becouse they know people won;t pay for a service however will pay for ripples in a 'crpto currency medium state' so people are basically paying for a service before its even been done, and without even planning to use the service
shit
i thought i didn't get this but i realised i actually do

ripple is a joke to be  polite

[jasonslow]

Should I hate ripple? I earn more than 50btc  and still earning.

[bitwhizz]

Should I hate ripple? I earn more than 50btc  and still earning.

good for you, but this isn't to do with how much one can make, this is to do with the fundamentals of the whole xrp trading system

[cebb]

Ripple is a scam with good marketing team.

step a) Promise average joe free ripples.

step b) Dont give them to averaje joe. Only give them to a selected few Hero/senior bitcointalk members (as a bribe to hype ripple)

step c) Then give few ripples to all bitcointalk members to get the unofficial exchange started and get everyone involved.

step d) Then keep reminding average joe that their free ripples are on its way in few weeks.

step e) Average joe doesnt want to wait for the free give away as the price of ripples seems to be rising on exchange so he buys them from exchange and this in turn helps to rise the price again.

What average Joe doesnt know is that ripple (opencoin) is manipulating the price higher by keeping a check on supply. They will surely give away few ripples to everybody but they will do that in small batches so that ripple can sustain their price compared to btc or usd while increasing the number of ripples in market.

Ripple will fail because its not a crypto currency at all. Any day government can knock on opencoin's door and ask them to comply with regulations.

[soma13]

There isn't a fixed value for XRP because it will price itself at a rate high enough to support it's ability to handle ripples transaction capacity.  Its value is derived from the value of the other IOU's stored and traded within the ripple platform.  Outside of ripple it has much less value since it requires trust in the ripple system, which one would not likely be extending if they were not actively using ripple for its intended purpose.  Within the ripple system it's extremely versatile though.

[bitwhizz]

There isn't a fixed value for XRP because it will price itself at a rate high enough to support it's ability to handle ripples transaction capacity.  Its value is derived from the value of the other IOU's stored and traded within the ripple platform.  Outside of ripple it has much less value since it requires trust in the ripple system, which one would not likely be extending if they were not actively using ripple for its intended purpose.  Within the ripple system it's extremely versatile though.

still doesn't make sense........ sigh