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clipcoins (OP)
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September 17, 2013, 02:50:12 PM |
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XRP back to .01 USD. That is up 67% now.
And remember the record high for XRP was just over .02 USD a few months ago. So still has room to run and won't even be where it was a few months ago.
XRP can DOUBLE from here and still not be where it was in June. So I'm adding more all the way up.
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Coinseeker
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September 17, 2013, 02:51:47 PM |
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At this rate and with the absolute usefulness of the Ripple network, it's not beyond the realm of possibility, to start thinking about XRP reaching parity with the USD. LTC is sitting at $2 and is just another digital currency with a limited payment network.
Except there are 100 billion XRP, and 84 million LTC. Do you even understand supply and demand? Sure do...I also understand speculation. BTC and LTC are both over valued but speculation on future values helps drive prices higher. In the world of crypto...anything is possible.  Ripple is a crypto game changer and open source removes most doubts. I'm not saying it's going to happen, I'm just saying it's certainly possible. I've got the popcorn ready!  Ripple might be, XRP isn't.
That remains to be seen. If Ripple is a game changer and XRP is the only native currency, requiring no trust lines, it's fairly safe to say XRP is going to fair very well in this scenario. |
If your ignore button isn't glowing, you're doing it wrong.
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clipcoins (OP)
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September 17, 2013, 02:54:48 PM |
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Yes I don't know if XRP will ever be $5.00 but right now it is $.01. Even if it goes to ten cents, that is 1000% profit.
And as I said above, even if it just goes back to where it was in June that is 100% profit from where it is right now at .01.
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bitcoinBull
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September 17, 2013, 03:29:55 PM |
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At this rate and with the absolute usefulness of the Ripple network, it's not beyond the realm of possibility, to start thinking about XRP reaching parity with the USD. LTC is sitting at $2 and is just another digital currency with a limited payment network.
Except there are 100 billion XRP, and 84 million LTC. Do you even understand supply and demand? But we should estimate the current value based on the current float (amount in circulation), not what it might be in 2030. Back of the envelope: current BTC float approximately 11 million. rough estimate of current XRP float is between 1.5 and 3 billion ( source). But let's be generous and bump it up to 10 billion. 11 million btc at $100 is a market cap of $1.1 billion USD. If XRP were to have similar value, then it gets the same market cap (over 10 billion coins instead of 11 million). So $1 billion USD / 10 billion XRP = $0.10 per XRP. Now I'll reserve judgement on whether XRP should be valued similarly to BTC (let the market decide). But this is the same back-of-the-envelope reasoning commonly used to justify an LTC price relative to BTC. |
College of Bucking Bulls Knowledge
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clipcoins (OP)
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September 17, 2013, 03:50:34 PM |
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Oh, I get that, and the fact that most XRP was sitting idle in people's wallets unaware they could sell it helped a lot with the previous bubble.
But here's the thing:
You can still get XRP in large quantities by giveaways.
You also have no idea about what OpenCoin will choose to distribute the rest.
However, you do know exactly how it is going to happen with Bitcoin.
Where is a giveaway where you can get XRP in "large" quantities? I'm not aware of any. And you are back to debating the long-term merits of Ripple vs Bitcoin. I posted this thread purely as a play on the big news. I never advocated XRP as a long-term "investment". Personally I think Ripple has a bright future, but I haven't advised anyone to buy some and hold it for year. I just suggested that people consider buying it on this open source news and it's gone up 60% since then. |
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ahbritto
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September 17, 2013, 03:59:11 PM |
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Where is a giveaway where you can get XRP in "large" quantities? I'm not aware of any.
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AmazonStuff
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September 17, 2013, 04:02:14 PM |
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Ahbritto It's nice to see you here  |
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AmazonStuff
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September 17, 2013, 04:07:54 PM |
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Uh, you guys seriously never saw https://bitcointalk.org/index.php?topic=145506.0 ? It's now "only" 1000 XRP but was higher, and it's 400+ pages. And they also did a 1000 XRP giveaway a few months ago, just needed your e-mail. How can sellers can compete? Anyone whose Bitcoin Forum account was created before February 19, 2013, 18:45 UTC, is eligible to receive XRP.
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colour
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September 17, 2013, 04:08:09 PM |
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You also have no idea about what OpenCoin will choose to distribute the rest.
And OpenCoin knows exactly where and when they will distribute the rest, and are therefore in a position to play the market accordingly. |
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clipcoins (OP)
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September 17, 2013, 04:16:58 PM |
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Where is a giveaway where you can get XRP in "large" quantities? I'm not aware of any.
That is a lottery type of thing...not a giveaway that everyone is eligible for. |
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clipcoins (OP)
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September 17, 2013, 04:17:56 PM |
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Uh, you guys seriously never saw https://bitcointalk.org/index.php?topic=145506.0 ? It's now "only" 1000 XRP but was higher, and it's 400+ pages. And they also did a 1000 XRP giveaway a few months ago, just needed your e-mail. How can sellers compete with free? So 1000 XRP is a "large" giveaway? 1000 XRP is worth $10 right now. Keep grasping for straws. |
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ahbritto
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September 17, 2013, 04:29:36 PM |
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That is a lottery type of thing...not a giveaway that everyone is eligible for. "...offering free Ripple Developer Conference tickets and 50,000 XRP on a limited, first-come, first-served basis." |
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bitcoinBull
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September 17, 2013, 04:33:29 PM |
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Oh, I get that, and the fact that most XRP was sitting idle in people's wallets unaware they could sell it helped a lot with the previous bubble.
But here's the thing:
You can still get XRP in large quantities by giveaways.
You also have no idea about what OpenCoin will choose to distribute the rest.
However, you do know exactly how it is going to happen with Bitcoin.
I agree with you, we do know how the bitcoin float will change. And about those large quantity XRP giveaways, PM me please (lol). And you're right, we don't know how exactly OpenCoin will distribute the rest. What we do have is their pledge to give away 50% (fwiw). And the common-sense expectation that they will do so in a way to maximize long-term XRP value (their explicit profit-model). The OpenCoin monopoly on XRP is (for non-employees) a bitter pill to swallow. But it comes with advantages (a simple profit-model strictly aligned with interest of XRP holders, aggressively pay developers, bootstrapping new exchanges/gateways with strong incentive, giveaway "faucet" to entice new users, etc). There might be other "non-profit" ways of developing a next-gen crypto-currency (eg community debate on vague proposals of p2p distributed exchanges in various forum threads). But I haven't seen them amount to anything. |
College of Bucking Bulls Knowledge
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clipcoins (OP)
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September 17, 2013, 04:43:09 PM |
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What a moron you are.
Yes, it's not large now, because the price is starting to make sense.
They used to give something that was worth more than 1 BTC at the time. In a giveaway.
How many times do I have to explain this?
Your quote: But here's the thing:
You can still get XRP in large quantities by giveaways.
So now you are saying the giveaways are no longer large, which is what I said to begin with, which was my point that you were incorrect and making things up. |
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Sukrim
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September 17, 2013, 04:45:45 PM |
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The 1000 XRP giveaway from SnapSwap is more tahn you'll ever need in a lifetime likely... I'd call that a large quantity.
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clipcoins (OP)
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September 17, 2013, 04:47:02 PM |
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The 1000 XRP giveaway from SnapSwap is more tahn you'll ever need in a lifetime likely... I'd call that a large quantity.
1000 XRP is $10 worth. So sure you can call that large. I guess it is compared to 1 penny's worth, but most people would not consider it large in the context of our discussion. And Snapswap has a new 2000 XRP giveaway if you use Dwolla to fund your acct. I'm taking advantage of that one. |
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bitcoinBull
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September 17, 2013, 04:48:35 PM |
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You also have no idea about what OpenCoin will choose to distribute the rest.
And OpenCoin knows exactly where and when they will distribute the rest, and are therefore in a position to play the market accordingly. True, but, OpenCoin interest is aligned with all XRP holders. And the ripple market is also much more transparent than conventional markets. Anyone can watch the OpenCoin addresses (like we can watch Satoshi addresses). And everyone can see the amount of funds entering and leaving gateways. Compare this to the current bitcoin exchanges, where whales and exchange insiders have an exclusive knowledge of fund flows, and therefore a huge information edge. |
College of Bucking Bulls Knowledge
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AmazonStuff
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September 17, 2013, 04:51:33 PM |
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Anyone can watch the OpenCoin addresses (like we can watch Satoshi addresses)
So what is Satoshi doing in these days? |
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bitcoinBull
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September 17, 2013, 05:03:25 PM |
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1000 XRP is $10 worth.
Nowhere else in cryptocoin history has someone given something that was $10 worth at the time. I guess XRP is still hugely overpriced. iirc, Gavin's bitcoin faucet was originally giving away 5 BTC per ip address. That was right around the time they were approaching $1. The snapswap giveaway started at 1500 XRP, but that was in exchange for verifying a bank account. They've lowered it to 500 XRP, and that's only with a $10 dwolla deposit. |
College of Bucking Bulls Knowledge
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clipcoins (OP)
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September 17, 2013, 05:13:01 PM |
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1000 XRP is $10 worth.
Nowhere else in cryptocoin history has someone given something that was $10 worth at the time. I guess XRP is still hugely overpriced. Yes like when they were giving out 50,000 free XRP and the price still went up 2000% after that? And you can rant off topic as much as you like about what XRP price will be in 10 years, but this thread is about the short-term price appreciation due to the open source news. It can be "overpriced" as much as you like but if you buy at $1 and sell at $2, then you still make 100% return on your investment. The time to sell may be late October, but sure isn't right now with it still moving up sharply. |
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