Ripple XRP surge open source and ZipZap news!

[Coinseeker]

The fact that people can still buy above 10k/BTC is insane.  I wouldn't expect this to last much longer and likely the last time we'll ever see prices like this again.  

[colour]

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.

There is no way to prove that OpenCoin isn't "giving away" the majority of their XRP to addresses which actually are controlled by OpenCoin (or their employees) themselves. They would have to reveal the identities of the users behind those addresses for that, which is not going to happen as it would compromise the privacy of these users.

[Elokane]

Who are the major servers right now?
Are there other gateways besides Bitstamp?

[superduh]

has anyone else thought that some of the xrp given away went to OPENCOIN and that they are selling them for btc at "market price" and that the btc  they get is how they make their money rinse and repeat

jkkkkkkkk

[JoelKatz]

There is no way to prove that OpenCoin isn't "giving away" the majority of their XRP to addresses which actually are controlled by OpenCoin (or their employees) themselves. They would have to reveal the identities of the users behind those addresses for that, which is not going to happen as it would compromise the privacy of these users.

We drafted the XRP distribution plan. If we thought keeping 80% of the XRP was best, we would have decided to do that. I don't see any benefit to us doing it deceptively and, of course, there's significant risk to doing things that way.

[clipcoins]

has anyone else thought that some of the xrp given away went to OPENCOIN and that they are selling them for btc at "market price" and that the btc  they get is how they make their money rinse and repeat

jkkkkkkkk

One of the main reasons I got into XRP in the first place is that OpenCoin's entire stated business plan is to make money from XRP price appreciation.

So their motives are aligned with XRP holders/investors/speculators.  They want the price to go up and they will do whatever they can to make it go up....which only benefits you if you are holding XRP.

[Coinseeker]

has anyone else thought that some of the xrp given away went to OPENCOIN and that they are selling them for btc at "market price" and that the btc  they get is how they make their money rinse and repeat

jkkkkkkkk

They do sell XRP to fund operations and that's never been a secret. Selling XRP is their only means to monetize. As was just said, this is a benefit not a negative.  A for-profit company has it in it's best interest to see the value of XRP rise and with that, they can actually pay developers and staff to help insure the success of the network. Especially as they not only head into open source but as the federation of payment networks and the addition of major gateways and market makers begins to kick into high gear.

Now the thought that OC would be selling most of their supply through the internal exchange wouldn't make much since, as the market depth could not handle that kind of influx and prices would just crash.  Not in their best interest.  Selling XRP in bulk to gateways and market makers however, is a much smarter way of getting operational funding from XRP, without affecting the order books.  Where do you think BitStamp gets their XRP supply from?  Their own order book?  I think not.

[clipcoins]

XRP holding strong at just near .01.  I thought it would pull back more before shooting upwards even more, but looks like it isn't going to do so and should take it out in the next day or less.  

[tyranosaur]

There is no way to prove that OpenCoin isn't "giving away" the majority of their XRP to addresses which actually are controlled by OpenCoin (or their employees) themselves. They would have to reveal the identities of the users behind those addresses for that, which is not going to happen as it would compromise the privacy of these users.

We drafted the XRP distribution plan. If we thought keeping 80% of the XRP was best, we would have decided to do that. I don't see any benefit to us doing it deceptively and, of course, there's significant risk to doing things that way.

You cannot possibly believe this to be true. You must think we're all idiots. There are 100 billion reasons for you guys to lie about the giveaways and zero risk of getting caught if you did.

[JoelKatz]

You cannot possibly believe this to be true.

Maybe I'm being naive, but I genuinely do believe it. I believe that every single XRP we give away, we give away because we believe that best furthers the long-term prospects for Ripple as a payment network and that is in the best interests of OpenCoin.

[clipcoins]

You cannot possibly believe this to be true.

Maybe I'm being naive, but I genuinely do believe it. I believe that every single XRP we give away, we give away because we believe that best furthers the long-term prospects for Ripple as a payment network and that is in the best interests of OpenCoin.

Yes well again, OpenCoin's stated (and open) business plan is to make profits from XRP price appreciation.  So by definition, everything they do is going to try to get XRP to go higher, in both the short-term, and long-term.   

So unless someone is accusing individuals in the company of blatant corruption (which I haven't heard), then yes all the giveaways, secret or not, is still designed to get 1 XRP to be worth more and more.

You can criticize how they are going about it and think they are making mistakes, but doesn't seem logical to question their overall motives.

Anyway back on topic, XRP is still hanging out just below .01.  Volume seems to be kind of low the last fwe hours but seems to usually go up overnight (in terms of USA east coast hours). So I don't know if that means big buyers in Europe or Asia or what, but that has been the trend for awhile.  So should be interesting to see where it is in 8 or 9 hrs.

[🏰 TradeFortress 🏰]

I'm going to guess that the open source release will be crippled in some way.

[tokeweed]

not much volume in btc/xrp if you convert value to usd.  if volume starts going over 100k usd, i might take a look.  right now it's up in the air. but who knows.  it's a good project and wish them all the success.

[tokeweed]

The real question is will Ripple be able to work in a fully decentralized way?

XRP is still going to be worthless - as it should be - by the way.

You're counting on rationality of market participants. Count again.

this.  same thing was said about btc 3 years ago.  look at it now.

[AmazonStuff]

This small thread name has the small piece of future and explains what Ripple network brings to Bitcoin community:

1. Anonymity... Does MtGox provide anonymity, does any other exchange do that? Now after BitStamp goes with AML verification, what other bitcoin exchange is anonymous?
2. You will be able to exchange any currency, coin, alt-coin for any currency, coin, alt-coin...
3. This kind of anonymous Ripple gateways will start popping out like a mushrooms after the rain.

This is the clear evidence why Ripple network is complementary tool with Bitcoin and why Ripple will just strengthen Bitcoin, no more centralized Bitcoin Exchange Websites.

[viboracecata]

This small thread name has the small piece of future and explains what Ripple network brings to Bitcoin community:

1. Anonymity... Does MtGox provide anonymity, does any other exchange do that? Now after BitStamp goes with AML verification, what other bitcoin exchange is anonymous?
2. You will be able to exchange any currency, coin, alt-coin for any currency, coin, alt-coin...
3. This kind of anonymous Ripple gateways will start popping out like a mushrooms after the rain.

This is the clear evidence why Ripple network is complementary tool with Bitcoin and why Ripple will just strengthen Bitcoin, no more centralized Bitcoin Exchange Websites.

Exactly.

[Elokane]

This small thread name has the small piece of future and explains what Ripple network brings to Bitcoin community:

1. Anonymity... Does MtGox provide anonymity, does any other exchange do that? Now after BitStamp goes with AML verification, what other bitcoin exchange is anonymous?
2. You will be able to exchange any currency, coin, alt-coin for any currency, coin, alt-coin...
3. This kind of anonymous Ripple gateways will start popping out like a mushrooms after the rain.

This is the clear evidence why Ripple network is complementary tool with Bitcoin and why Ripple will just strengthen Bitcoin, no more centralized Bitcoin Exchange Websites.

That is awesome.

[Sukrim]

I'm going to guess that the open source release will be crippled in some way.

Well, it will be "crippled" in the sense that it is not too likely that suddenly everyone and their mother puts the node someone just brought online in their UNL - so someone unknown starting to run rippled would have limited impact on the actual network initially.

"Crippled" in the sense of for example "not being able to take part in consensus at all" or "can only run testnet" is unlikely, as there would be need for major restructuring of the code base to even remotely accomplish that. Also it could trivially be patched back in. I would recommend them to make rippled start by default in testnet mode (as a lot of nodes coming up at the same time might overload the p2p network with requests for historic data) with mainnet only available with command line switches or non-default config settings, but other than that I see no indications for "crippling potential" other than the mentioned "network killing itself due to sudden influx of nodes" scenario, which is not really part of the source code.

[🏰 TradeFortress 🏰]

Well, it will be "crippled" in the sense that it is not too likely that suddenly everyone and their mother puts the node someone just brought online in their UNL - so someone unknown starting to run rippled would have limited impact on the actual network initially.

"Crippled" in the sense of for example "not being able to take part in consensus at all" or "can only run testnet" is unlikely, as there would be need for major restructuring of the code base to even remotely accomplish that. Also it could trivially be patched back in. I would recommend them to make rippled start by default in testnet mode (as a lot of nodes coming up at the same time might overload the p2p network with requests for historic data) with mainnet only available with command line switches or non-default config settings, but other than that I see no indications for "crippling potential" other than the mentioned "network killing itself due to sudden influx of nodes" scenario, which is not really part of the source code.

Nah, crippled as in "starting your own fork requires proprietorially and unreleased software". Will Ripple be open source or free software? There's an important distinction.

Apple has open sourced parts of Mac OS X, iOS, etc, http://opensource.apple.com/ , but that doesn't mean OSX or iOS is free software. Bitcoin is free software. Regardless, having source available is a good step forward.

This small thread name has the small piece of future and explains what Ripple network brings to Bitcoin community:

1. Anonymity... Does MtGox provide anonymity, does any other exchange do that? Now after BitStamp goes with AML verification, what other bitcoin exchange is anonymous?
2. You will be able to exchange any currency, coin, alt-coin for any currency, coin, alt-coin...
3. This kind of anonymous Ripple gateways will start popping out like a mushrooms after the rain.

This is the clear evidence why Ripple network is complementary tool with Bitcoin and why Ripple will just strengthen Bitcoin, no more centralized Bitcoin Exchange Websites.

You have GOT to be kidding. DividendRippler is not a currency exchange for starters, and even if it was it doesn't do fiat at all.

It's true that with Ripple there will be no more centralized bitcoin exchange websites. There will just be a centralized bitcoin exchange website. Claiming that trading via Ripple is more decentralized is like claiming that by using a desktop gox interface you're no longer trading on centralized bitcoin exchanges.

[Luckybit]

So is the Ripple XRP a different kind of bitcoin and if so, how is it different/better?

http://www.newfination.com/2013/08/01/the-ripple-network-review-what-is-ripple/4103/

XRP is down about 70% from its highs, which is why I think it should really surge on this news once more people find out about it.

How do we buy XRP