Ripple price

[rafsoaken]

I just want to hear the confirmation out of everyones mouth buying ripple with bitcoin.
Given the market cap of 100 000 000 000 ripple (read a hundred billion), and that you buy ripple at almost 10000XRP/1BTC, you estimate
 the fair market cap of ripple to be 10 million bitcoin or around 1.3 billion dollar.

Disclosure: I have 50 ripples.

[matt608]

Markets don't have to be rational, and most of those coins haven't been released onto the market.  Anyone have the figures for how many are being held by ripple?

[wtfvanity]

Markets don't have to be rational, and most of those coins haven't been released onto the market.  Anyone have the figures for how many are being held by ripple?

> 99 Billion...

[cp1]

I just want to hear the confirmation out of everyones mouth buying bbqcoin with bitcoin.
Given the market cap of 88 000 000 bbqcoin (read a 88 million), and that you buy bbqcoin at almost 10000BBQ/1BTC, you estimate
 the fair market cap of BBQcoin to be 100 million bitcoin or around 1.3 jillion dollar.

Disclosure: I have no bbqcoin

[rafsoaken]

I just want to hear the confirmation out of everyones mouth buying bbqcoin with bitcoin.
Given the market cap of 88 000 000 bbqcoin (read a 88 million), and that you buy bbqcoin at almost 10000BBQ/1BTC, you estimate
 the fair market cap of BBQcoin to be 100 million bitcoin or around 1.3 jillion dollar.

Disclosure: I have no bbqcoin

You can get around 140 000 BBQcoins for 1 BTC, thus market cap is barely more than 600 bitcoins!
Other than your slight calculation inaccuracies, very funny reply.

[rafsoaken]

bump.

[smoothie]

Ripple's market cap is not justified in my view. Huge over supply of premined "coins".

[QuantPlus]

Markets don't have to be rational, and most of those coins haven't been released onto the market.  Anyone have the figures for how many are being held by ripple?

The number all summer was that only about 2-3 billion XRP had been distributed.

Now I see here...
On May 15th Jed McCaleb said only 1.2 billion XRP had been distributed.

https://xrptalk.org/topic/20-how-many-ripples-have-been-already-distributed/

But lets' be conservative and say the float is now 3 billion XRP...
With 97 billion XRP still in Jed's McCaleb's LockBox.

These 97 billion may NEVER be distributed... or they may flood the market at any time.
It would be ROUGHLY comparable to a Corporation holding 97 billion Treasury shares...
With a stock market float of 3 billion shares.

The market right now is 12,000/BTC = $0.01133...
So a Ripple network Market Cap woud be 3,000,000,000 x $0.01133 = $34 million... or lower.

And the range the last 3 months has been 300-400%... $10 to $50 million.

XRP spent the entire spring in a narrow trading range 5,500 to 7,500/BTC...
Then when everything fell waaaaaaay behind schedule...
OpenCoin was either silent or would roll out outdated, boilerplate PR...
And leave only random Ripple Zombies to crow about their obsession...
XRP crashed 80% to 35,000/BTC... then recovered slowly to 22,000/BTC.

And now the BIG PUMP...
Because OpenCoin has 15 employees and 7-8 high powered Devs...
And is burning through cash and needs to sell XRP for USD.  

http://bitcoincharts.com/charts/rippleXRP#rg90zigDailyztgSzm1g10zm2g25zv

[NWO]

Markets don't have to be rational, and most of those coins haven't been released onto the market.  Anyone have the figures for how many are being held by ripple?

The number all summer was that only about 2-3 billion XRP had been distributed.

Now I see here...
On May 15th Jed McCaleb said only 1.2 billion XRP had been distributed.

https://xrptalk.org/topic/20-how-many-ripples-have-been-already-distributed/

But lets' be conservative and say the float is now 3 billion XRP...
With 97 billion XRP still in Jed's McCaleb's LockBox.

These 97 billion may NEVER be distributed... or they may flood the market at any time.
It would be ROUGHLY comparable to a Corporation holding 97 billion Treasury shares...
With a stock market float of 3 billion shares.

The market right now is 12,000/BTC = $0.01133...
So a Ripple network Market Cap woud be 3,000,000,000 x $0.01133 = $34 million... or lower.

And the range the last 3 months has been 300-400%... $10 to $50 million.

XRP spent the entire spring in a narrow trading range 5,500 to 7,500/BTC...
Then when everything fell waaaaaaay behind schedule...
OpenCoin was either silent or would roll out outdated, boilerplate PR...
And leave only random Ripple Zombies to crow about their obsession...
XRP crashed 80% to 35,000/BTC... then recovered slowly to 22,000/BTC.

And now the BIG PUMP...
Because OpenCoin has 15 employees and 7-8 high powered Devs...
And is burning through cash and needs to sell XRP for USD.  

http://bitcoincharts.com/charts/rippleXRP#rg90zigDailyztgSzm1g10zm2g25zv

This was my point on the Ripple forums. People don't see that a new influx of employees means more XRP which needs to be sold. The recent price drop to 45,000/BTC was due to an account with 200 million XRP dumping, who is to say this won't happen again? It was very hush hush and no information was given about the individual/ company.

[bitcoinBull]

Ripple's market cap is not justified in my view. Huge over supply of premined "coins".

There is no proof-of-work, so no mining (therefore no pre-mine). Doing "consensus" instead of proof-of-work is what allows ledgers to be validated every 5-10 seconds without paying massive hardware and electricity bills. Furthermore, instead of coin supply increasing through mining, total coin supply is decreasing since all transaction fees paid get destroyed. Which increases the value of all XRP holders (instead of just benefiting miners).

[🏰 TradeFortress 🏰]

Ripple's market cap is not justified in my view. Huge over supply of premined "coins".

There is no proof-of-work, so no mining (therefore no pre-mine). Doing "consensus" instead of proof-of-work is what allows ledgers to be validated every 5-10 seconds without paying massive hardware and electricity bills. Furthermore, instead of coin supply increasing through mining, total coin supply is decreasing since all transaction fees paid get destroyed. Which increases the value of all XRP holders (instead of just benefiting miners).

Consensus is just another fancy word for centralization. For Ripple to work, it MUST have an authoritative ledger. That requires the majority of the network to be trusting the same validators (opencoin inc + bitstamp).

Ripple is a centralized payment service with a federal reserve (being OpenCoin Inc). It doesn't matter how they word it - if the federal reserve printed 100 trillion dollars but will only release drops through the economy to further their agenda, it's the same as printing money

[bitcoinBull]

Ripple's market cap is not justified in my view. Huge over supply of premined "coins".

There is no proof-of-work, so no mining (therefore no pre-mine). Doing "consensus" instead of proof-of-work is what allows ledgers to be validated every 5-10 seconds without paying massive hardware and electricity bills. Furthermore, instead of coin supply increasing through mining, total coin supply is decreasing since all transaction fees paid get destroyed. Which increases the value of all XRP holders (instead of just benefiting miners).

Consensus is just another fancy word for centralization. For Ripple to work, it MUST have an authoritative ledger. That requires the majority of the network to be trusting the same validators (opencoin inc + bitstamp).

And for bitcoin to work, the majority of the network must all be on the same blockchain. Which means that the biggest mining pools must decide which version of bitcoind they trust enough to run, otherwise the chain will fork. With ripple, the biggest gateways make the decision on which ledger they will be on by choosing which validators they trust.

Your argument is like saying that bitcoin is centralized because everyone has to be on the same blockchain. Bitcoin is decentralized because there is no central authority which can seize your coins (same with ripple).

Ripple is a centralized payment service with a federal reserve (being OpenCoin Inc). It doesn't matter how they word it - if the federal reserve printed 100 trillion dollars but will only release drops through the economy to further their agenda, it's the same as printing money

Essentially the same argument has been used all along by bitcoin detractors - that bitcoin mining is a high-tech pyramid scam to print useless e-currency and then sell it for real money, with the end goal being nothing more than to enrich themselves.

That fact that ripple is backed and bootstrapped by a for-profit corporation is, for some, a bitter pill to swallow. I'm not exactly thrilled about it, but I see how it could have benefits over a non-profit community-driven open-source-from-the-start technical project: paid developers (no need for donations or separate employment), simple and transparent profit model, cohesive and unified marketing strategy, etc.

Furthermore, for anyone to claim that they will refuse to buy shares because its a for-profit corporation, in order to be consistent they must be completely divested from AAPL, EBAY, GOOG, etc. There's basically no difference from buying XRP and buying stock shares in any of those companies (except that the shares of XRP have a hard-coded total cap in the protocol, are continually decreasing in number, don't come with a bunch of wall street shenanigans and requirements, etc). For the time being, I still live in the real world, not an anti-capitalist participatory inclusive utopian democracy. Either swallow the pill, get dragged onto the train kicking and screaming, or get left behind.

[wiggi]

Ripple is a centralized payment service with a federal reserve (being OpenCoin Inc). It doesn't matter how they word it - if the federal reserve printed 100 trillion dollars but will only release drops through the economy to further their agenda, it's the same as printing money

In the same sense that federal reserve has already printed an infinite amount of dollars and only release a trillion or so per year
OpenCoin has printed 100 billion and only release drops while there's demand. Imagine every Bitcoin wallet must have 1 coin in it
for basic functionality, what would that do to the exchange rate

[Coinseeker]

Imagine every Bitcoin wallet must have 1 coin in it
for basic functionality, what would that do to the exchange rate

Probably kill it, if like Ripple, there wasn't a way to change the minimum requirements.  Because who's gonna pay $100+ to start a wallet.  If one XRP was worth $120, then via consensus, the nodes on the network could simply vote to reduce the minimum account requirements.  You can currently fund a Ripple wallet for about ~$1.  BTC is currently over $120.  So your analogy is either poor or just very poorly thought out.  

[wiggi]

Probably kill it, if like Ripple, there wasn't a way to change the minimum requirements.  Because who's gonna pay $100+ to start a wallet.  If one XRP was worth $120, then via consensus, the nodes on the network could simply vote to reduce the minimum account requirements.  You can currently fund a Ripple wallet for about ~$1.  BTC is currently over $120.  So your analogy is either poor or just very poorly thought out.  

Yes, more like a bitcent.

From https://ripple.com/wiki/FAQ#Can_a_Ripple_validator_block_a_user.3F I'd guess
"nodes on the network could simply vote" means "each node will tweak their server after it's open sourced"
We'll see how well the network can handle the ensuing chaos.

[nameface]

Bitcoin and Ripple are just the two first concepts that have seen success in our exploding new space. We've seen incredible exponential growth. The eco-system has gone to over 2 billion in just three years. Moving forward the cryptocurrency world will be uniting more and more with the traditional financial system, and other digital currency spaces, which will lead to more and more substantial inflows.

The value of the entire global currency and precious metals markets might be 80 trillion. Our eco-system is a drop in the bucket. Being openly negative about Ripple has just the same effect as being openly negative about Bitcoin, it diminishes our collective momentum. There is incredible room for growth, and we can capitalize best on this growth by working together.

Do you want to change the world? I want to change the world. We can't do that unless real money from outside sources starts pouring in. I want to see ripples at $1 and bitcoins at $5,000. That's when things start getting interesting.

[Hazard]

Bitcoin and Ripple are just the two first concepts that have seen success in our exploding new space. We've seen incredible exponential growth. The eco-system has gone to over 2 billion in just three years. Moving forward the cryptocurrency world will be uniting more and more with the traditional financial system, and other digital currency spaces, which will lead to more and more substantial inflows.

The value of the entire global currency and precious metals markets might be 80 trillion. Our eco-system is a drop in the bucket. Being openly negative about Ripple has just the same effect as being openly negative about Bitcoin, it diminishes our collective momentum. There is incredible room for growth, and we can capitalize best on this growth by working together.

Do you want to change the world? I want to change the world. We can't do that unless real money from outside sources starts pouring in. I want to see ripples at $1 and bitcoins at $5,000. That's when things start getting interesting.

Ripple is a parasite that sucks the life out of bitcoin. Ripple can not exist without bitcoin. Bitcoin can exist without ripple.

Whereas bitcoin transfers actual value around, ripple merely transfers debt. It's a shitty system and one that no one here should support.

[nameface]

Ripple is a parasite that sucks the life out of bitcoin. Ripple can not exist without bitcoin. Bitcoin can exist without ripple.

Whereas bitcoin transfers actual value around, ripple merely transfers debt. It's a shitty system and one that no one here should support.

Everything you are saying is untrue. Both systems can exist independently, and both systems have a native currency which is not debt. Maybe you just "feel" like Ripple is bad system, that's fine, but you haven't justified your feelings. Meanwhile, Ripple is gaining a lot of support from people who are capable of putting together cogent arguments, and who aren't afraid to put their money where their mouth is.

[bitcoinBull]

Ripple is a parasite that sucks the life out of bitcoin. Ripple can not exist without bitcoin. Bitcoin can exist without ripple.

Whereas bitcoin transfers actual value around, ripple merely transfers debt. It's a shitty system and one that no one here should support.

By that logic, then no one here should support exchanges. Because exchanges just transfer debt.

Why would someone think trying to sell the ability to create IOUs to bitcoiners would give them anything but shit and drama? Debt Stinks... I should know 

[ElectricMucus]

Notice anything?
LTC bashers have become very quiet and Ripple bashers will get even quieter.

If you listen carefully you can hear them grinding their teeth.