Ripple XRP surge open source and ZipZap news!

[Coinseeker]

If you don't have XRP, you're about to miss the gravy train.  Especially at these prices.  We sat at the 6000k-8000k range for months.  Open source news may well push this under 1k. 

Aside from price speculation, this is great news as open source is the number one complaint against Ripple.  This will drive a stake right through the heart of the Ripple haters who have claimed Ripple is a scam that will never be OS.  Once that's behind us, people can finally look at what genius looks like.  OpenCoin is far from a perfect company but Ripple is simply genius and an asset to the entire crypto currency world.  The future is so bright...I gotta wear 

[1715263650]

1715263650

[1715263650]

1715263650

[1715263650]

1715263650

[bitcoinBull]

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.

Try holding only USD, and then send a payment to yourself, received in BTC. You should see some trading happen on the order books (the USD gets exchanged for XRP, and the XRP for BTC).

[markm]

Why two steps? shouldn't the USD terade directly to BTC ?

Or do they add a step deliberately to force their XRP to seem to have some value/use?

-MarkM-

[Sukrim]

Why two steps? shouldn't the USD terade directly to BTC ?

Or do they add a step deliberately to force their XRP to seem to have some value/use?

Market depth could be larger if you combine USD --> BTC and USD --> XRP --> BTC...

You can trade directly, XRP are used as intermediate only if the total trade would be cheaper. The only deliberatly forced mechanism in Ripple is that you need to have a minimum balance of XRP to use an account and to open trust lines. It does not seem like you watched the video linked in the OP.

[markm]

I normally do not even try to watch videos, too many end up wanting me to use flash, which I do not use.

I even tried installing gnash a while back, but that left a litter of processes lying around so I got rid of it.

I prefer writing anyway, it is more random-access and read-at-your-own-pace, video tends to be sit around waiting for the slowest common denominator to get it through his head, so ends up wasting too much time.

-MarkM-

[Coinseeker]

Yet you couldn't name even one.   . Like it or not, Ripple is here to stay and is good for digital currencies.  Of course one would have to actually understand Ripple is not a currency, before one could actually grasp why Ripple is a benefit to all crypto.

[bitcoinBull]

Closed-source, centralized and 100% premined is shit no matter what you do with it later. There are already so much better alternatives.

There is no "mining", because there's no proof-of-work. Using "consensus" instead of proof-of-work is what enables new ledgers (analogous to blocks) every 5-10 seconds.

Mining rewards give the incentive to process bitcoin (and other alt-chain) transactions. That has led to plentiful bitcoin nodes and hash power. But it has left a network of exchanges which is lacking, "balkanized", and expensive. (the spread between bitstamp and mtgox is a consequence of this).

With ripple, it is OpenCoin giveaways which provide the incentive to become a gateway (as opposed to mining rewards to become a miner). And the infrastructure which XRP provides (order books built into the protocol) makes it easy for anyone to provide exchange liquidity (cheaper fees/smaller spreads should be the consequence).

XRP acts like the grease-and-gears for exchanging bitcoin (think of it as the dollar for trading the gold).

I won't argue that its a shining light of egalitarianism, but certainly moreso than the conventional bitcoin exchange (and its more transparent to boot. IOU deposits aka "gateway capitalization" are public in-the-ledger knowledge, currently standing at $284k USD and 2,250 BTC).

[Coinseeker]

It is pointless to debate about big picture with ones who are after profit and profit only because you are oblivious on all important matters.

I assume that either means you have no talking points left and/or your "Bitcoin Megastore" is actually a non-profit, charitable organization.    . BTW-Ripple would allow customers from all over the world to buy goods from you with any currency, while you continue to receive payment in BTC or any other currency you choose.  When you stop thinking of Ripple as a competitor to Bitcoin, you'll actually see the benefits of the P2P payment network, that is Ripple.

[clipcoins]

XRP is up about 30% in the 24hrs since I posted this thread.   

Easy money for those who paid attention and were irrationally skeptical.

[Elokane]

Closed-source, centralized and 100% premined is shit no matter what you do with it later. There are already so much better alternatives.

I won't argue that its a shining light of egalitarianism, but certainly moreso than the conventional bitcoin exchange (and its more transparent to boot. IOU deposits aka "gateway capitalization" are public in-the-ledger knowledge, currently standing at $284k USD and 2,250 BTC).

Where can you see this?

[Coinseeker]

XRP is up about 30% in the 24hrs since I posted this thread.

The best part is even if we only settled back to where we were, 5000-8000/BTC, there's still time to triple ones money buying in now.  However, I think open source very well may drive this below 1k/BTC.  Now that's some serious profit.   

[clipcoins]

http://www.rippleprice.com/

Going to start a price watch here.

When I first posted this thread, this was at .0060.

Now it is at .0080, so that is solid 33% gain.  

I bet we see solid 100% before the run is over.  Sept 26 is still days away and Ripple was at .02 several weeks ago.  So that would be over 300% gain and don't be surprised if it does that. I'm looking for just 100% though.

It's still not too late to jump on, so check it out.

[AmazonStuff]

Bitcoin and Ripple are totally complementary tools, because Ripple seals the biggest hole in the Bitcoin and that is exchange. Any crypto-currency is nothing without exchange, bitcoin currently uses websites for this purpose which makes him vulnerable, because any exchange website could be shut down by some government if bitcoin becomes considered as illegal. Also, by exchanging currency on this kind of websites you become a subject to tax regulations (you know all those "AML verifications" that are popping around on exchange websites) and someone could knock on your door and say you are a money launderer.

By joining Bitcoin with Ripple, you will able to exchange Bitcoins in Ripple P2P network.

Open-sourcing Ripple means that in the future, every user will have a copy of rippled server one-click installation (similar to WAMP, MAMP, LAMP, XAMPP...) at his home, just as everyone has Bitcoin client in these days, and will be contributing to the P2P Ripple network that will be bullet-proof just as torrent p2p network.

It's totally impossible to love Bitcoin and hate Ripple or vice versa, because they are probably the work of the same man or the same group of people. It's just the natural evolution in the crypto-currency world.

[bitcoinBull]

Closed-source, centralized and 100% premined is shit no matter what you do with it later. There are already so much better alternatives.

I won't argue that its a shining light of egalitarianism, but certainly moreso than the conventional bitcoin exchange (and its more transparent to boot. IOU deposits aka "gateway capitalization" are public in-the-ledger knowledge, currently standing at $284k USD and 2,250 BTC).

Where can you see this?

The gateway cap isn't charted anywhere (yet). But in IRC, ripplebot gives an update whenever it changes. You can use the web IRC client http://webchat.freenode.net/ and join the channel #ripple-market to see them (gateway cap updates are the "CAP" messages).

[clipcoins]

XRP is up about 30% in the 24hrs since I posted this thread.

The best part is even if we only settled back to where we were, 5000-8000/BTC, there's still time to triple ones money buying in now.  However, I think open source very well may drive this below 1k/BTC.  Now that's some serious profit.  

Yes exactly...could easily double from where I first posted it at .006.  Even going to .012 would still be about 30% below all time XRP highs several weeks ago.

Don't fight the momentum...just jump aboard and enjoy the ride.

[tclo]

Yes thanks again for posting this.  Much appreciated and I'm up 25%.  I just added some more too. I agree that it has farther to run.

[clipcoins]

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

I love this quote.  I love it when people are so absolutely sure about something and course they end up being 100% wrong.  Got to love that confidence...I mean arrogance and cluelessness.

[spoid]

so the only way for me to buy ripple with BTC is to boot into linux and build the client myself...?

[superduh]

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

I love this quote.  I love it when people are so absolutely sure about something and course they end up being 100% wrong.  Got to love that confidence...I mean arrogance and cluelessness.

all statements are shortsighted. people are better off making long term predictions. the chances of ripple being successful long term are small.

[Coinseeker]

so the only way for me to buy ripple with BTC is to boot into linux and build the client myself...?

No, you can create a wallet here:

https://ripple.com/client/#/register

You'll need a Bitstamp account and about 100 XRP to initially fund your account.  You can buy 103 XRP from Bitstamp for $1.  Then within Bitstamp, go to withdrawal -> Ripple and follow the "trust this address" link.

Then in your Ripple wallet you can go to Advanced -> Trade to set Bitstamp as the issuer for XRP/BTC and you'll see the order book.