Ripple #2 CoinMarketCap.com !

[NWO]

I hope you bought  

Ripple has been under development for over a year and has accomplished many achievements. Notably;

- Open sourced
- 35+ full time employees
- 11 million transactions
- Record price increases
- 50,000+ accounts

Looking forward to 2014!


Those who resist Ripple usually have lots of Bitcoin to lose from a competitor (even though it compliments Bitcoin with instant transactions) or do not understand the powerful network which is growing everyday.

Ripple.com  

[NWO]

edited to include facts 

[DolanDuck]

I created the same thread yesterday  

BTC/XRP went from 31.000 to 28.000 in a couple of hours  

https://ripplecharts.com/

[HairyMaclairy]

Maybe you can clear something up for me.

In order for the Ripple payment system to work, you have to trust someone with your money.  True or false?

If the answer is true, then Ripple (and XRP) are fundamentally flawed. 

[NWO]

I created the same thread yesterday  

BTC/XRP went from 31.000 to 28.000 in a couple of hours  

https://ripplecharts.com/

Whoops, this must have been moved from the newbie section 

Great time to be involved with Ripple. So many promising announcements for 2014.

[NWO]

Maybe you can clear something up for me.

In order for the Ripple payment system to work, you have to trust someone with your money.  True or false?

If the answer is true, then Ripple (and XRP) are fundamentally flawed. 

Answer me this question. Do you trade at all?

Trading on ANY Bitcoin exchange has a level of trust. In Ripple, you trust a gateway (Bitstamp) to receive XRP.

If you do not understand this (there are also many real world examples), maybe crypto isn't for you.

[HairyMaclairy]

I think I understand a little too well.  Your trust pathways are built on people trusting other people and swapping crypto for IOUs.

I wait for six confirmations.  I trust no one more than I have to.

Anyone that trusts anyone in bitcoinland is an idiot. You would think people could learn from Sheep Marketplace. Or Bitcoinica. Or Lehman Brothers.  

Anyway good luck with Ripple.  

[markm]

So what? It is still good for you as a bitcoin user because no matter what currency someone wants to send you you can tell them to simply use RIpple to send it to you in the form of bitcoins.

(Real bitcoins on the blockchain. If they offer bitcoin IOUs just say no no you do not understand, Ripple can send real bitcoins, those are what I want, if you have IOUs good for you, cash them in and send me the damn bitcoins... Which Ripple should do automatically presumably.)

So whether they have dollars or yen or litecoins or whatever, you can still get your real bitcoins on the real blockchain and wait 6 confirmations if you want.

It gets around the whole "gee I do not have bitcoins can I send you something else instead".

You don't even need a Ripple account yourself for that, do you?

You can just say look here is my bitcoin address, just tell your bank or payment processor or Halawa guy or uncle or cousin or grandchild or who-ever-the-f*ck to send me the bitcoins, and if none of them can do it for you just get a damn Ripple account or something...

-MarkM-

[HairyMaclairy]

Forget Bitcoin for a moment let's talk USD. 

Bob owes me $US100.  I don't know Bob but he says he will ripple me the money. 

In order for Bob to ripple me the $US100 I have to trust him for US$100 (you cannot ripple USD without trust). But what I don't know is that Bob has created a second account called Bob's_sock_puppet.  Bob has trusted Bob's_sock_puppet for $US 1 million. 

At 9.10 am I trust Bob for $US100.  At 9.12 am Bob's_sock_puppet ripples me for $US100. 

Now Bob owes me $100 and Bob's_sock_puppet also owes me $100.  Both then default and I am twice as worse off as before. 

Let me know if I have misunderstood the mechanics. 

[debuni]

You don't

[OnkelPaul]

Forget Bitcoin for a moment let's talk USD. 

Bob owes me $US100.  I don't know Bob but he says he will ripple me the money. 

In order for Bob to ripple me the $US100 I have to trust him for US$100 (you cannot ripple USD without trust). But what I don't know is that Bob has created a second account called Bob's_sock_puppet.  Bob has trusted Bob's_sock_puppet for $US 1 million.

You don't know Bob but you trust him for $100? Pretty stupid move. Don't do that. Not in real life, not in Ripple.
Apart from that, you really don't care whether Bob trusts his own sock puppet for $1000000, as you don't have any trust relationship with his sock puppet.

At 9.10 am I trust Bob for $US100.  At 9.12 am Bob's_sock_puppet ripples me for $US100. 

Now Bob owes me $100 and Bob's_sock_puppet also owes me $100.  Both then default and I am twice as worse off as before. 

What do you mean by "Bob's_sock_puppet ripples me"? Do you have any business relationship with Bob's_sock_puppet?

Let me know if I have misunderstood the mechanics. 

Yes. Completely.

The only situation in which you should extend trust to a ripple account is when you are really sure that the owner of this account will pay his dues *in real life* whenever you request that payment.
That means that you can trust a gateway for $100 if you can get those $100 in real life from that gateway. For example, you could trust bitstamp for USD when you have a bitstamp account and you know that you can withdraw $100 from said account.

If you want to receive USD in Ripple from a stranger, request that he sends it to you in a currency issued by someone you trust, for example Bitstamp. He can then buy Bitstamp USD within Ripple using whatever currency he manages to get into Ripple (for example, DividendRippler BTC or LTC). Of course, he can use his own Bitstamp account just as well if he happens to have one. But what you end up with is $100 USD issued by Bitstamp, not Bob. And unless Bitstamp goes belly-up (which is of course a possibility, shit tends to happen) you can withdraw the $100 from Bitstamp anytime you want to.

Onkel Paul

[Etlase2]

How does Ripple have 35 full time employees but no product? Do they all work on the exchange? Even then, that seems awfully excessive.

And if there is one currency for which market cap is an absolutely meaningless number, Ripple is it. Not to bring the Ripple bash, but there is still not much impressive about it.

[Sukrim]

Their products are all available on GitHub... It takes time and manpower to build software...

Anyways, they also have people working in business  development or marketing.

I agree that XRP are not that interesting. Luckily you also don't need to care too much about them too, if you want to use ripple instead of speculating on some centrally issued cryptocurrency

[MsCollec]

I invested $5,000 during the launch of Ripple, honestly if i had used that same cash on WDC that was selling then @ $0.02 you all know what returns i will have now on my money, but ripple is more focused on the big investor Google Venture. I lost hope when i saw this tweet #1 mission of @RippleLabs is not #XRP value, but to advance @Ripple #protocol as payment system, making money transacting as easy as #email and i sold all my XRP.
 
https://twitter.com/XRPRipple/status/413372728914108416

[virtualaddict]

Some good links to understand Ripple:
http://en.wikipedia.org/wiki/Ripple_(payment_protocol)
http://ripplescam.org/
Why Ripple™ is against everything Bitcoin

I don't really like it but I invested in it for now. I think it could easily be replaced by coins that build that function into their protocol. Also, this is a really good point:

Suggestion: show Ripple's market cap as the value per XRP multiplied by the total XRP released into circulation.

Bitcoin for example is shown as a current market cap calculated from the 12,180,975 BTC currently in circulation, giving us:

    $9,287,262,579 = $762.44 * 12,180,975

However, if one were to follow the logic applied to XRP then the BTC market cap should be shown as the total number of BTC that will ever be in circulation, giving us:

    $16,011,240,000 = $762.44 * 21,000,000

And for Litecoin:

    $2,013,480,000 = $23.97 * 84,000,000

Therefore at some of its previous prices LTC's market cap would have exceeded Ripple's: the current chart's method of calculation does not account for this.

Although Ripple is centralised so its XRP are not mined but released by a central authority I think this process is functionally similar to that of mining other decentralised cryptographic currencies. Therefore in my opinion Ripple's market cap on the chart should account for the XRP that have been released to be consistent with all the other currencies on the chart.

[El Dude]

ripple is centralized garbage , I'll stick with LTC and BTC before I ever invest in this crap.

[ajax3592]

I think this is the only coin with a mining strategy that is actually good for the planet and humans.

not simply burning electricity

Just checked the website and "World Community Grid" etc.

You actually provide you processing power to research on cancer, AIDS, etc.  << how  b e a u t i f u l  is that

[virtualaddict]

I think this is the only coin with a mining strategy that is actually good for the planet and humans.

not simply burning electricity

Just checked the website and "World Community Grid" etc.

You actually provide you processing power to research on cancer, AIDS, etc.  << how  b e a u t i f u l  is that

It would be more impressive if they gave away more than 1,000,000 XRP per day for this because there are 100 billion XRP in existence. So, they are giving away 1/100000 or 0.00001 or 0.0000001% of the total XRP in existence per day.

[ajax3592]

I think this is the only coin with a mining strategy that is actually good for the planet and humans.

not simply burning electricity

Just checked the website and "World Community Grid" etc.

You actually provide you processing power to research on cancer, AIDS, etc.  << how  b e a u t i f u l  is that

It would be more impressive if they gave away more than 1,000,000 XRP per day for this because there are 100 billion XRP in existence. So, they are giving away 1/100000 or 0.00001 or 0.0000001% of the total XRP in existence per day.

Did you try mining them ?

[Thorgrim]

Ripple is total garbage and the market cap is complete BS.

Currently Ripple has a stated market cap 134x Worldcoin but only has about half the daily volume.

How is that possible if XRP is disbursed as widely and fairly as WDC? Obviously it isn't. The creators of Ripple are holding back 99.5% of the coin according to this article: http://www.thebitcointrader.com/2013/05/ripple-is-now-tsunami.html

The marketcap is fake.

I should come out with a scam coin with 100,000,000,000 units give them all to myself and then only release 500,000 into the market to create artificial scarcity then when those few units trade for a couple bucks each I can claim to have a market cap of $200,000,000,000. Sound fair?

Plus the guy promoting XRP, has a Username NWO. That is a hint folks. Scammers love to throw it in your face.

Stay far away from Ripple.