Ripple XRP surge open source and ZipZap news!

[QuantPlus]

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.

It won't surge.  OpenCoin owns billions of XRP from the premine.

There is no volume.

It's like $20K/day... down from $100K/day 3 months ago.

Anybody can push this market around at will...
OpenCoin doesn't have the foggiest idea how to manage a currency.

And Griffin's comment was "our technology" will be open sourced...
With no confirmation from the mutes at OpenCoin...
So this basically means nothing.

OpenCoin is completely dysfunctinal...
That's why they are going to Vegas...
Maybe Ripple will stay in Vegas.

Yes exactly...volume has dried up lately so any significant buying interest will push it up.  And there was some big buys last night.

And Griffin is OpenCoin..he's a VP there.  

It's up to you whether Ripple going open source means nothing to you, but time will tell if it means much to the other buyers/traders/speculators out there.  

It is just very low risk and high potential reward at the moment, which is why I bought some last night.

Actually, I like your bet on Ripple. Good luck with that.

Personally, I make 500 trades/day on the NYSE...
And do not trust the Ripple network for more than a few $1000...
And am basically sick and tired of the whole Ripple saga.

[tclo]

Thanks for making us aware of this.  I have been buying and selling Ripple for months on this site and in the ripple client, and I miss trading it.  It died out a bit but this does seem like a good bet to take. I will buy some today.  It looks like the price is already creeping up a bit and this news has not spread very far yet.

[bbit]

Thanks for making us aware of this.  I have been buying and selling Ripple for months on this site and in the ripple client, and I miss trading it.  It died out a bit but this does seem like a good bet to take. I will buy some today.  It looks like the price is already creeping up a bit and this news has not spread very far yet.

where do you sell ripple?

[bitcoinBull]

Oh there is an actual price for xrp ? how can that be with there is 100 billion of them? where can I see the price?

www.rippleprice.com to check the price quickly, with USD as the quote currency (eg $0.006 dollars per ripple).

In most other places, eg http://xrp.webr3.org/usd-xrp you'll see the price quoted with XRP as the quote currency (165 ripples per dollar. 1/165 = $0.006 dollars per ripple)

[bbit]

Oh there is an actual price for xrp ? how can that be with there is 100 billion of them? where can I see the price?

www.rippleprice.com to check the price quickly, with USD as the quote currency (eg $0.006 dollars per ripple).

In most other places, eg http://xrp.webr3.org/usd-xrp you'll see the price quoted with XRP as the quote currency (165 ripples per dollar. 1/165 = $0.006 dollars per ripple)

Thanks this is what I was wondering! Thank you!

[tclo]

Thanks for making us aware of this.  I have been buying and selling Ripple for months on this site and in the ripple client, and I miss trading it.  It died out a bit but this does seem like a good bet to take. I will buy some today.  It looks like the price is already creeping up a bit and this news has not spread very far yet.

where do you sell ripple?

I usually have a thread posted in the alt currencies forum.  I buy it, more than sell it on here.

https://bitcointalk.org/index.php?topic=190456.0

[tclo]

Oh there is an actual price for xrp ? how can that be with there is 100 billion of them? where can I see the price?

www.rippleprice.com to check the price quickly, with USD as the quote currency (eg $0.006 dollars per ripple).

Yes the all time high was about .021 dollars per ripple.

So that is 250% increase over where it is now, and plenty of room to run.

It just needs a catalyst to shoot it back up, and this very well may be it.

The last time they did a giveaway, it shot the price up 30% in one day.

[bbit]

It won't surge.  OpenCoin owns billions of XRP from the premine.

100 Billion to be excate.

XRP are largely irrelevant... spam prevention.

Ripple is a decentralized debt tracker.

Ya, I hear you on that. I found it funny the company's name is OpenCoin yet they are just getting to open sourcing it haha

[tclo]

It won't surge.  OpenCoin owns billions of XRP from the premine.

100 Billion to be excate.

XRP are largely irrelevant... spam prevention.

Ripple is a decentralized debt tracker.

Ya, I hear you on that. I found it funny the company's name is OpenCoin yet they are just getting to open sourcing it haha

Yeah they aren't very organized and have made all kinds of strategic errors along the way.

I am not a Ripple cheerleader but I am still a fan of XRP because I have made some profits on it and it's an interesting trading vehicle.

The ripple client is actually pretty cool once they get it running well.

[bbit]

It won't surge.  OpenCoin owns billions of XRP from the premine.

100 Billion to be excate.

XRP are largely irrelevant... spam prevention.

Ripple is a decentralized debt tracker.

Ya, I hear you on that. I found it funny the company's name is OpenCoin yet they are just getting to open sourcing it haha

Yeah they aren't very organized and have made all kinds of strategic errors along the way.

I am not a Ripple cheerleader but I am still a fan of XRP because I have made some profits on it and it's an interesting trading vehicle.

The ripple client is actually pretty cool once they get it running well.

Yes, I see you've been snatching them up    I'm assuming you can't disclose how many xrp's you have?  Sent you a PM 

[tclo]

It won't surge.  OpenCoin owns billions of XRP from the premine.

100 Billion to be excate.

XRP are largely irrelevant... spam prevention.

Ripple is a decentralized debt tracker.

Ya, I hear you on that. I found it funny the company's name is OpenCoin yet they are just getting to open sourcing it haha

Yeah they aren't very organized and have made all kinds of strategic errors along the way.

I am not a Ripple cheerleader but I am still a fan of XRP because I have made some profits on it and it's an interesting trading vehicle.

The ripple client is actually pretty cool once they get it running well.

Yes, I see you've been snatching them up    I'm assuming you can't disclose how many xrp's you have?  Sent you a PM  

Well I have bought and sold a bunch of them over time.  I don't have a huge position in them at the moment but going to slowly accumulate as it rises on the news.

[coinage]

And Griffin's comment was "our technology" will be open sourced...
With no confirmation from the mutes at OpenCoin...

How about the top item at https://www.ripple.com:

September 12, 2013
New Team Members Join as Ripple Approaches Open-Source

We’re growing our team to accelerate progress on the Ripple Network. Our biggest focus right now is open-sourcing the code, and that milestone is just around the bend! To keep pace with the fast-moving work, we’ve welcomed four new members to the team.

So an encouraging official statement, though not yet confirmation of Sept. 26.  That might require a title more like "New Hires to Work Miracles in 14 Days".

Presumably releasing the code does not equate to sharing control of the network yet.  I hope the protocols are strong and no major vulnerabilities are found by the wrong parties.

They should keep the security bug bounty in force for a good while as a hedge against that.

[QuantPlus]

Thanks for making us aware of this.  I have been buying and selling Ripple for months on this site and in the ripple client, and I miss trading it.  It died out a bit but this does seem like a good bet to take. I will buy some today.  It looks like the price is already creeping up a bit and this news has not spread very far yet.

where do you sell ripple?

The only reasonably tight market is thru the Ripple client.

You log into your Ripple wallet...
(Assuming you already loaded some BTC via Bitstamp)...
Then go to Advanced/Trade/Select "BTC/XRP"/Select Issuer "Bitstamp"/Click on Order Book...

Bitstamp Market looks like this Sunday Night Sept 15th (click on it to enlarge):



Then there is also the USD/XRP market.

[tclo]

How about the top item at https://www.ripple.com:

September 12, 2013
New Team Members Join as Ripple Approaches Open-Source

Aha, good catch....so it is even more official now and this news should spread in the next few days. Watch the ripple client and if you see it start to edge up, then jump on quickly.

[coinage]

"BTC/XRP" ... Order Book [for] Bitstamp ... looks like this Sunday Night Sept 15th (click on it to enlarge):



Then there is also the USD/XRP market.

And BTC/USD etc.  Surprisingly this is handled separately from BTC/XRP and XRP/USD.  (There are no automated 2-step trades.)  So BTC/USD has very low volume but is sometimes superior pricewise.

Have you discovered how to get the Bid & Ask tables side by side every time, as shown in your image above?  Most of my browsers & screen resolutions & zooming factors place the Asks below the Bids, which is tedious.  If not, I'll have a look at the HTML.

[Edit: I have found a temporary workaround for this glitch (tested so far in Chromium): instead of a full-screen or maximized window, slightly reduce the browser window's width.  Try a range of sizes.  On Linux, you can also make the window wider than the screen.  Either way, the Asks now appear properly to the right of the Bids, until the window is maximized again.]

[bitcoinBull]

And BTC/USD etc.  Surprisingly this is handled separately from BTC/XRP and XRP/USD.  (There are no automated 2-step trades.)  So BTC/USD has very low volume but is sometimes superior pricewise.

Not quite true. I'm pretty sure the BTC/USD order book is "synthesized" by combining the BTC/XRP and USD/XRP order books.

Currency conversion in ripple is automated. It's called "path finding", and it finds the cheapest "route" through the order books. This happens when you send someone a payment and they've chosen to receive a different currency/IOU than what you are holding.

[hennessyhemp]

My favorite place for price checking is here:

https://ripplecharts.com/
I especially like the ability to flip the chart, more charts should do that.

Might be time to grab a few more if this rumor is true.

It would be great to see "OpenCoin" actually living up to their name and their promises.

[viboracecata]

Yeah, be sure you are ready to read this.

Hope big promotion for XRP

[coinage]

Surprisingly [BTC/USD] is handled separately from BTC/XRP and XRP/USD.  (There are no automated 2-step trades.)  So BTC/USD has very low volume but is sometimes superior pricewise.

Not quite true. I'm pretty sure the BTC/USD order book is "synthesized" by combining the BTC/XRP and USD/XRP order books.

Currency conversion in ripple is automated. It's called "path finding", and it finds the cheapest "route" through the order books. This happens when you send someone a payment and they've chosen to receive a different currency/IOU than what you are holding.

I wish this were the case for trading, but it's not (and might not be feasible).  The BTC/USD orders do not seem at all "synthesized".

Pathfinding is Ripple's beautiful way to send value to someone else, if there's any trust path between you.  But it seems unused when you trade a currency for another one (keeping it yourself) using the interface at "Advanced > Trade".

Evidence:

There are often small spreads on BTC/XRP, and on XRP/USD, yet a much larger spread on BTC/USD (or vice versa)!

And, the order books tend to be vastly longer for the XRP-linked pairs than for BTC/USD.

Arbitrage can improve the BTC/USD pair, but so far there's very little volume there.  Traders on Ripple should be using it routinely to save half the transfer fees compared with doing the same trade in two steps.

Let's hope more Bitcoin traders realize Ripple is an alternate Bitstamp interface, and then some!

______________________________________

Are "synthesized" order books possible?

I can imagine a procedure to match up partial orders between BTC/XRP and XRP/USD and add synthesized results to the BTC/USD book.  It would make that order book much longer than it is now.  Probably all the generated orders would change very often, which is also not seen at the exchange.  (Changing one order could affect a great many others.)

As for the reverse, there may be no workable way to "split" the BTC/USD book and show those results in the two XRP-based order books.  The valuations would be arbitrary.  Think it through and you may agree.

Can't wait to see the source code though.

[molecular]

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.