Your thoughts about Ripple?

[Digithusiast]

Hi there,

As a newbee I started mining Litecoins. With difficulty rising I looked for a 2nd coin that could be cpu-mined at the same time without losing mining speed of Litecoins.

So far the best option I found as a 2nd coin to "mine" is Ripple mining by using the BOINC manager. But Ripple does not seem very popular by many miners and I am wondering if I am betting on the wrong horse Any experts around willing to advice if Ripple is a smart choice, or willing to name other cpu-coins as a better option?

Thanks and regards

[guybrushthreepwood]

Hi there,

As a newbee I started mining Litecoins. With difficulty rising I looked for a 2nd coin that could be cpu-mined at the same time without losing mining speed of Litecoins.

So far the best option I found as a 2nd coin to "mine" is Ripple mining by using the BOINC manager. But Ripple does not seem very popular by many miners and I am wondering if I am betting on the wrong horse Any experts around willing to advice if Ripple is a smart choice, or willing to name other cpu-coins as a better option?

Thanks and regards

My thoughts along with many is that ripple(s) is a scam. Just do some research. The only people who promote it have an invested interest in it.

[sniksen]

You don't mine ripple with BOINC. You are awarded a little ripple by aiding in medical research. I've tried it and I do not think it is worth the effort. The concept is good, but the coin distribution is shit just like with NXT(even if ripples aren't, coins I'll call them coins for clarifycation). If the market accepts the coin distribution it might survive. I see many people(as the guy above my post) saying it is scam - No one is trying to fooling anyone, it is completely open and transparent. The word "scam" is used just as loosely in this forum as a teen saying everything is "amazing". Scam is defined by something completely different.

[piuser57]

Is coinmarketcap part of the ripple scam?

[guybrushthreepwood]

Is coinmarketcap part of the ripple scam?

No I don't think so, but they can only go on information they are provided by other sources with may be involved in scams and fake/ fraudulent trading etc. There's a few discussions about it on here.

[lemfuture]

centralized, 100% premine, they give you coins if you pay, for forging  

[JDS1000]

I'm not an expert, but I have a solid resource.

To get an idea of which currencies carry the best Return on Mining (ROM?) - I use http://www.coinwarz.com/cryptocurrency (Non-Ref).  If you scroll down a little you will see a comparison of the various Cryptocurrencies, difficulty in mining, Supply, Cryptsy Exchange rate, Exchange Volume, Revenue/Profit (accounting for electricity) and more.

Good Luck!

[Coin-Moron]

Ripple makes this Crypto market centralised.
According to me, all these premined coins are a scam now or then.
Be cautious.

[affan]

Ripple focuses on credit, bitcoin focuses of assets, they are not really competing. What is good for Ripple is good for Bitcoin because Ripple is complimentary to Bitcoin.

[FiniteRed]

*sigh*

Ripple is not a 'scam', and the currency is XRP (Ripple is the protocol the network uses) - Its just a different way of approaching digital currency, XRP is under total control from a central organisation as opposed to decided upon by the majority. As 'indicated' Ripple Labs created ~100,000,000,000 coins and are in the process of distributing them to as many people as possible. They did this first through several early adopter giveaways, and then turned to rewarding participants of the BOINC/World Community Grid distributed number crunching platform. The WCG idea is actually brilliant as collectively we are helping fight cancer, discover better methods of energy harvesting and helping Aids research beat the disease once and for all.

With 100,000,000,000 coins in total XRP will never be worth thousands per coin, I estimate 1 XRP will be worth ~ $0.10 in a few years - perhaps more / sooner if it really takes off. Currently its hovering around the $0.02 mark. The amount of XRP is controlled by Ripple Labs, they can add more or take some away - this is very different to how Bitcoin and all the millions of alt-coins work as you are putting your faith in Ripple Labs and not a volatile market made up of self interested parties. Is this better? That's one of the decisions you have to make.

So if you invest some money/BTC into XRP and leave it alone you may well make a profit on your investment, you may also make a loss if XRP drops or goes under. Welcome to the world of virtual currency!

Again - it's not a scam - just a different method of approaching digital/virtual currency.

FR