Ripple XRP surge open source and ZipZap news!

[Coinseeker]

 the chances of ripple being successful long term are small.

Really?  Based on what exactly?

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[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.

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

That's a non sequitur... I never said anything about long-term success of ripple. I just said that there was a good chance the XRP price would move up sharply on this open source news.  I was hoping for 30% in a week and instead got 30% in a day.

[AmazonStuff]

I hope that tomorrow we will hit 10 000

[spoid]

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. 

thanks a lot! got it now.

[Elokane]

So what happened on the 16th of August to cause such an incredible crash in price?

[clipcoins]

So what happened on the 16th of August to cause such an incredible crash in price?

It was just technical pullback mainly.  It was going down and down and then accelerated and then bounced back about 75% in a couple of days.    So panic selling followed by panic buying, basically.

There was just a news vacuum for a long time which is why this news is extra significant.   P

Plus the main criticism you hear about XRP on here is that it is closed sourced, so it will be open source soon and more accepted.

[JoelKatz]

So what happened on the 16th of August to cause such an incredible crash in price?

It's very hard to be sure. There are three factors that are generally mentioned:

1) Loss of forward momentum: The rate at which new things were announced by OpenCoin was perceived to have decreased.

2) Large XRP sales: OpenCoin had an old commitment to pay 200 million XRP. When that commitment was honored, some of that XRP was sold with very large sell offers that filled only partially and were then removed. Some were concerned that this large movement of XRP may have reflected a theft or the beginning of a pattern.

3) Price momentum: If the price of XRP is dropping, people want to wait to the bottom before they buy. And some people may decide to sell and buy back at the bottom.

But this is all really speculation.

[Elokane]

Thanks for the straight up answers.

[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. 

thanks a lot! got it now.

Anytime, glad I could help.   

[NWO]

So what happened on the 16th of August to cause such an incredible crash in price?

It's very hard to be sure. There are three factors that are generally mentioned:

1) Loss of forward momentum: The rate at which new things were announced by OpenCoin was perceived to have decreased.

2) Large XRP sales: OpenCoin had an old commitment to pay 200 million XRP. When that commitment was honored, some of that XRP was sold with very large sell offers that filled only partially and were then removed. Some were concerned that this large movement of XRP may have reflected a theft or the beginning of a pattern.

3) Price momentum: If the price of XRP is dropping, people want to wait to the bottom before they buy. And some people may decide to sell and buy back at the bottom.

But this is all really speculation.

Why don't you tell us exactly if Ripple is being open sourced rather than side stepping the real question of this whole thread?

[JoelKatz]

Why don't you tell us exactly if Ripple is being open sourced rather than side stepping the real question of this whole thread?

Ripple was designed to be open sourced from the very beginning. Like Bitcoin, it makes numerous design tradeoffs to allow it to function as a decentralized system with no requirement for central authorities.

[NWO]

Why don't you tell us exactly if Ripple is being open sourced rather than side stepping the real question of this whole thread?

Ripple was designed to be open sourced from the very beginning. Like Bitcoin, it makes numerous design tradeoffs to allow it to function as a decentralized system with no requirement for central authorities.

Yes, but will it be open source on the 26th? It sounds like this is all hype and OC just do not want to respond as they are enjoying the price rise without the backlash.

[clipcoins]

Why don't you tell us exactly if Ripple is being open sourced rather than side stepping the real question of this whole thread?

Ripple was designed to be open sourced from the very beginning. Like Bitcoin, it makes numerous design tradeoffs to allow it to function as a decentralized system with no requirement for central authorities.

Yes, but will it be open source on the 26th? It sounds like this is all hype and OC just do not want to respond as they are enjoying the price rise without the backlash.

they already announced it.  What is there to "respond" to?

[clipcoins]

lol at title "already up 30% and climbing"

Yet another pump, nothing to see here.

lol at you.  So you think I pumped it up 30...I mean 43%?   

Nope it was the news that shot it up and I just made people aware of the news.  Those that took advantage of that knowledge made 43% on their money in a couple of days.

You clearly did not take advantage of it...but don't worry, will be other opportunities in the future.

www.rippleprice.com

.0086.  Up 43.3% and still rising...

The numbers don't like and neither does the news.

[NWO]

Why don't you tell us exactly if Ripple is being open sourced rather than side stepping the real question of this whole thread?

Ripple was designed to be open sourced from the very beginning. Like Bitcoin, it makes numerous design tradeoffs to allow it to function as a decentralized system with no requirement for central authorities.

Yes, but will it be open source on the 26th? It sounds like this is all hype and OC just do not want to respond as they are enjoying the price rise without the backlash.

they already announced it.  What is there to "respond" to?

Oh yeah I forgot that an OC employee or mod confirmed this on their forum/ blog... Not. You know? The blog which reports small scale news such as charity donations but fails to write about arguably the biggest announcement in Ripple history so far.

Have you not wondered why no one is yet to confirm or decline that YT video? Not even JoelKatz who will not confirm anything... Hmmm. This dump is going to be more spectacular than the failed LTC implementation on Mt Gox. People buying at these prices are going to get burned, with the hundreds of millions of new XRP in the wild (from the 200M account), don't expect the price back down to 5000: 1.

Use your head next time.

[NWO]

Anyway, "going open source" is too vague, and the OpenCon guy here didn't respond to the actual concerns.

Right now, Ripple is 100% centralized. It's very easy to take it out. Is it going to change?

Most people are buying into the hype with little knowledge about the Ripple market or what it even is. I find it hilarious. The price is so inflated right now that it is going to burst fantastically. Don't think big BTC holders are going to be tied down into the Ripple system for years when most of them hate the bugged centralized system.

But I don't really care, everyone else is just making me filthy rich when I bought at 40,000 xrp/ 1 btc.

[AmazonStuff]

Six events that make me feel that Ripple XRP will skyrocket in October

1. September 10

"Open-sourcing Ripple" Announcement
Everybody has already seen and heard that Patrick Griffin, Head of Business Development, OpenCoin Inc. in this video here (watch the next 20 seconds) made the big announcement about Ripple going to be open-sourced by the end of September (probably on September 26).

2. September 26

"Official" announcement
Many Bitcoiners are sceptical about this video and they want "official" announcement on Ripple Blog, it's probably a question of time when this is going to happen, probably it will be announced on the day when Ripple is actually open-sourced.

3. September 30

Bitstamp only for verified members
I believe that many Bitstamp members who are concerned about their privacy will transfer their funds to Ripple network, Bitstamp is already connected to Ripple and it's a matter of seconds to transfer funds from Bitstamp to Ripple.

4. October 6-10

Ripple at Money2020
Probably the first time many big players in the financial, banking and payments industry will learn about Ripple.

5. October 10

Ripple XRP DevCon
Co-joined event at the last day of Money2020.

6. Somewhere in October...

Bitcoin dump
Bitcoin possible dump in October, what always happens in this kind of situation is that XRP are usually going up to some extent.

[clipcoins]

People are buying because they still don't understand the fundamentals.

Yes and Bitcoin went to 260 because of the "fundamentals".

You don't understand how markets work. 

[NWO]

Six events that make me feel that Ripple XRP will skyrocket in October

1. September 10

"Open-sourcing Ripple" Announcement
Everybody has already seen and heard that Patrick Griffin, Head of Business Development, OpenCoin Inc. in this video here (watch the next 20 seconds) made the big announcement about Ripple going to be open-sourced by the end of September (probably on September 26).

2. September 26

"Official" announcement
Many Bitcoiners are sceptical about this video and they want "official" announcement on Ripple Blog, it's probably a question of time when this is going to happen, probably it will be announced on the day when Ripple is actually open-sourced.

3. September 30

Bitstamp only for verified members
I believe that many Bitstamp members who are concerned about their privacy will transfer their funds to Ripple network, Bitstamp is already connected to Ripple and it's a matter of seconds to transfer funds from Bitstamp to Ripple.

4. October 6-10

Ripple at Money2020
Probably the first time many big players in the financial, banking and payments industry will learn about Ripple.

5. October 10

Ripple XRP DevCon
Co-joined event at the last day of Money2020.

6. Somewhere in October...

Bitcoin dump
Bitcoin possible dump in October, what always happens in this kind of situation is that XRP are usually going up to some extent.

1. You saw that JoelKatz couldn't even confirm it nor any employee that I have asked. They would announce it on their blog if it was true, like I stated earlier. They announce EVERYTHING.

2. There is no announcement because it isn't true.

3. What the hell are you going on about? Bitstamp has been a gateway for ages and it is secure. Ripple in BETA is less secure and there are weekly instances of wallet hacks or general glitches which have ended in loss of income. Get your brainless facts straight.

The rest of your points are rubbish and you act as if Bitcoin has never been at financial events before. If you look at the news. People are talking about Bitcoin, not Ripple. You are delusional and probably mentally challenged. Good try, you must hold lots of XRP. Unless a HUGE flood of support comes into the Ripple ecosystem, Ripple will not reach its all time high as it is being diluted with huge XRP dumps by OC and their shady dealings. With the recent expansion of their team, more employees need to be paid which means more XRP needs to be sold. You do the maths.

[clipcoins]

Six events that make me feel that Ripple XRP will skyrocket in October

1. September 10

"Open-sourcing Ripple" Announcement
Everybody has already seen and heard that Patrick Griffin, Head of Business Development, OpenCoin Inc. in this video here (watch the next 20 seconds) made the big announcement about Ripple going to be open-sourced by the end of September (probably on September 26).

2. September 26

"Official" announcement
Many Bitcoiners are sceptical about this video and they want "official" announcement on Ripple Blog, it's probably a question of time when this is going to happen, probably it will be announced on the day when Ripple is actually open-sourced.

3. September 30

Bitstamp only for verified members
I believe that many Bitstamp members who are concerned about their privacy will transfer their funds to Ripple network, Bitstamp is already connected to Ripple and it's a matter of seconds to transfer funds from Bitstamp to Ripple.

4. October 6-10

Ripple at Money2020
Probably the first time many big players in the financial, banking and payments industry will learn about Ripple.

5. October 10

Ripple XRP DevCon
Co-joined event at the last day of Money2020.

6. Somewhere in October...

Bitcoin dump
Bitcoin possible dump in October, what always happens in this kind of situation is that XRP are usually going up to some extent.

Nice summary.  I will copy and paste this in the first post and give you credit.