Why has Ripple decreased so much in Market cap? Used to be second to Bitcoin

[btcxyzzz]

because, naturally, people don't admire pre-mined coins, and they shouldn't. crap coins should go away.

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[twiifm]

The best thing that happened to Ripple, was speculators and single-currency thinkers, not rushing to Ripple to "pump" the internal currency, XRP.  It's not a speculative currency.  I know that's hard for many of you to understand.  After all, that's all blockchain coins are good for...speculation.  Not knocking it, just saying, I get the limited thinking.

Ripple is the value web.  It doesn't take an ideological position as to which currencies the world will use and try to jam those down everyones throats.  Just as the web doesn't attempt to dictate what type of information is available.  Instead, it offers the ability to remove centralized exchanges and central clearing houses, allowing the use of IOU's, you already possess (In those exchanges, bank accounts, Paypal, etc.) and gives you freedom to exchange them for other things of value.  As apposed to having your IOU's trapped in those central entities.  Think Gox.  Total loss for people with IOU's there.  With Ripple, those same IOU's Gox is sitting on, could have been exchanged for other things of value, even after they halted withdrawals.  Even right now.  They're your IOU's after all.  Shouldn't you have control over them?  

Truth is, most of you should avoid Ripple at this point because the raw protocol is really beyond the comprehension of most novice crypto users.  Developers will love it.  No question about it, but where single currencies are very simple and easy to digest, Ripple is a true monetary system and monetary systems are very complex by nature.  Trying to fit Ripple into a "coin" box, will always leave you frustrated, confused and of course, blaming the protocol because it's something you don't understand.  Typical way of saving face, I suppose.

Nevertheless, hang in there.  Whether you get Ripple or not, it's going to change the way the world transacts and that is a good thing for Bitcoin and all things of value.  So don't make Ripple the scapegoat or competition to your little currencies.  Nope, your currencies are individually responsible for their own success or failure.  Ripple is just here to see that there's a way they can reach everybody, where the live, and with what they use locally as currency, without all the middlemen.  

Welcome to the world of distributed exchange.  The future is so bright.  

+1 good post.  Personally I haven't used Ripple but the economics view behind it are correct

[QuantumQrack]

Ripple is no different than government issued fiat.

[kgo]

The best thing that happened to Ripple, was speculators and single-currency thinkers, not rushing to Ripple to "pump" the internal currency, XRP.  It's not a speculative currency.  I know that's hard for many of you to understand.  After all, that's all blockchain coins are good for...speculation.  Not knocking it, just saying, I get the limited thinking.

Ripple is the value web.  It doesn't take an ideological position as to which currencies the world will use and try to jam those down everyones throats.  Just as the web doesn't attempt to dictate what type of information is available.  Instead, it offers the ability to remove centralized exchanges and central clearing houses, allowing the use of IOU's, you already possess (In those exchanges, bank accounts, Paypal, etc.) and gives you freedom to exchange them for other things of value.  As apposed to having your IOU's trapped in those central entities.  Think Gox.  Total loss for people with IOU's there.  With Ripple, those same IOU's Gox is sitting on, could have been exchanged for other things of value, even after they halted withdrawals.  Even right now.  They're your IOU's after all.  Shouldn't you have control over them?  

Truth is, most of you should avoid Ripple at this point because the raw protocol is really beyond the comprehension of most novice crypto users.  Developers will love it.  No question about it, but where single currencies are very simple and easy to digest, Ripple is a true monetary system and monetary systems are very complex by nature.  Trying to fit Ripple into a "coin" box, will always leave you frustrated, confused and of course, blaming the protocol because it's something you don't understand.  Typical way of saving face, I suppose.

Nevertheless, hang in there.  Whether you get Ripple or not, it's going to change the way the world transacts and that is a good thing for Bitcoin and all things of value.  So don't make Ripple the scapegoat or competition to your little currencies.  Nope, your currencies are individually responsible for their own success or failure.  Ripple is just here to see that there's a way they can reach everybody, where the live, and with what they use locally as currency, without all the middlemen.  

Welcome to the world of distributed exchange.  The future is so bright.  

What you're talking about is money.  Something that everyone agrees to use to eliminate the double coincidence of wants when trading.  Ripple fans never seem to be able to explain to my satisfaction why I'd trade one money, bitcoin, for another money, ripple, just so I can trade that for whatever I really want, recreating the double-concidence-of-wants problem it's supposed to avoid..  Why not just trade bitcoin for what I want? What does adding ripple in the middle of things add to the process?

The main thing ripple attempts to accomplish is to create a http://en.wikipedia.org/wiki/Hawala system, where brokers trade IOUs and then at some point settle up after cancelling out IOUs, so they don't need to actually send money back and forth all the time.  This is done because it's difficult to transmit traditional money over a long distance or across international borders.  However, crypto-currencies don't have this problem.  Why do I need a broker to send my money half way across the world when I can just send money half way across the world by clicking my mouse button?

[twiifm]

The best thing that happened to Ripple, was speculators and single-currency thinkers, not rushing to Ripple to "pump" the internal currency, XRP.  It's not a speculative currency.  I know that's hard for many of you to understand.  After all, that's all blockchain coins are good for...speculation.  Not knocking it, just saying, I get the limited thinking.

Ripple is the value web.  It doesn't take an ideological position as to which currencies the world will use and try to jam those down everyones throats.  Just as the web doesn't attempt to dictate what type of information is available.  Instead, it offers the ability to remove centralized exchanges and central clearing houses, allowing the use of IOU's, you already possess (In those exchanges, bank accounts, Paypal, etc.) and gives you freedom to exchange them for other things of value.  As apposed to having your IOU's trapped in those central entities.  Think Gox.  Total loss for people with IOU's there.  With Ripple, those same IOU's Gox is sitting on, could have been exchanged for other things of value, even after they halted withdrawals.  Even right now.  They're your IOU's after all.  Shouldn't you have control over them?  

Truth is, most of you should avoid Ripple at this point because the raw protocol is really beyond the comprehension of most novice crypto users.  Developers will love it.  No question about it, but where single currencies are very simple and easy to digest, Ripple is a true monetary system and monetary systems are very complex by nature.  Trying to fit Ripple into a "coin" box, will always leave you frustrated, confused and of course, blaming the protocol because it's something you don't understand.  Typical way of saving face, I suppose.

Nevertheless, hang in there.  Whether you get Ripple or not, it's going to change the way the world transacts and that is a good thing for Bitcoin and all things of value.  So don't make Ripple the scapegoat or competition to your little currencies.  Nope, your currencies are individually responsible for their own success or failure.  Ripple is just here to see that there's a way they can reach everybody, where the live, and with what they use locally as currency, without all the middlemen.  

Welcome to the world of distributed exchange.  The future is so bright.  

What you're talking about is money.  Something that everyone agrees to use to eliminate the double coincidence of wants when trading.  Ripple fans never seem to be able to explain to my satisfaction why I'd trade one money, bitcoin, for another money, ripple, just so I can trade that for whatever I really want, recreating the double-concidence-of-wants problem it's supposed to avoid..  Why not just trade bitcoin for what I want? What does adding ripple in the middle of things add to the process?

The main thing ripple attempts to accomplish is to create a http://en.wikipedia.org/wiki/Hawala system, where brokers trade IOUs and then at some point settle up after cancelling out IOUs, so they don't need to actually send money back and forth all the time.  This is done because it's difficult to transmit traditional money over a long distance or across international borders.  However, crypto-currencies don't have this problem.  Why do I need a broker to send my money half way across the world when I can just send money half way across the world by clicking my mouse button?

That's exactly what he's talking and why Ripple is intriguing.  Currently to send money across distances you need a clearing house.  You are correct that Hawala does this without a clearing house & Ripple is a digital version of Hawala.

The reason why you want this is because people use different local currencies.  If my Chinese supplier only accept RMB as payment and if I want to use BTC how can the transfer take place?  Either there is a clearing house that takes my BTC and gives him RMB or something like Ripple.

[~Coinseeker~]

That's exactly what he's talking and why Ripple is intriguing.  Currently to send money across distances you need a clearing house.  You are correct that Hawala does this without a clearing house & Ripple is a digital version of Hawala.

The reason why you want this is because people use different local currencies.  If my Chinese supplier only accept RMB as payment and if I want to use BTC how can the transfer take place?  Either there is a clearing house that takes my BTC and gives him RMB or something like Ripple.

+1 I had a whole post typed out but I honestly couldn't say it much better than that.  I will add, if your making a BTC -> BTC payment, you don't need Ripple.  Just send wallet to wallet.  What reality is showing though, is most merchants don't accept BTC, they accept USD and they require a middleman or central clearing house, to facilitate that transaction.  In this case, BitPay and Coinbase.

[kgo]

That's exactly what he's talking and why Ripple is intriguing.  Currently to send money across distances you need a clearing house.  You are correct that Hawala does this without a clearing house & Ripple is a digital version of Hawala.

The reason why you want this is because people use different local currencies.  If my Chinese supplier only accept RMB as payment and if I want to use BTC how can the transfer take place?  Either there is a clearing house that takes my BTC and gives him RMB or something like Ripple.

But why use an IOU/promise-to-pay (XRP) when I can use an asset/commodity (BTC)?

[~Coinseeker~]

That's exactly what he's talking and why Ripple is intriguing.  Currently to send money across distances you need a clearing house.  You are correct that Hawala does this without a clearing house & Ripple is a digital version of Hawala.

The reason why you want this is because people use different local currencies.  If my Chinese supplier only accept RMB as payment and if I want to use BTC how can the transfer take place?  Either there is a clearing house that takes my BTC and gives him RMB or something like Ripple.

But why use an IOU/promise-to-pay (XRP) when I can use an asset/commodity (BTC)?

XRP is not an IOU.  It's a deflationary, math-based currency, just like Bitcoin.  It prevents ledger spam and acts as a bridge between two currencies.  Say BTC -> XRP -> YEN.  And you don't have to necessarily use it, if there's a cheaper path.  

An IOU is just a balance that you have with a 3rd party.  If you go to your Bitstamp or Cryptsy account, it will display how much BTC, USD, etc you have with them, right?  That's your balance and that balance is an IOU.  They  "owe" you, X amount.  It's just an IOU that is trapped in a central entity.  (Well, of course Bitstamp is the largest Ripple gateway, so you can have access to your Bitstamp IOU's within Ripple.)

So again, with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them freely into other things of value or even pay someone with them.  Which just means, you're transferring that balance, to someone else.  In Ripple, an IOU is not a means by which you can buy something now, and pay later.  It's a representation of actual assets you own.  When you exchange those IOU's, the asset balance is transferred to the new owner.  The IOU simply determines who now owns that balance.

[acoindr]

XRP is not an IOU.  It's a deflationary, math-based currency, just like Bitcoin.

That's a laugh. XRP is NOTHING like Bitcoin. Bitcoin is completely transparent and provable with math. ALL Bitcoin transactions from day 1 are available for viewing and auditing by anyone. That's not true for Ripple.

I understand certain people on this forum want to pump Ripple, but please stop trying to hang on Bitcoin's coattails to do it.

[twiifm]

XRP is not an IOU.  It's a deflationary, math-based currency, just like Bitcoin.

That's a laugh. XRP is NOTHING like Bitcoin. Bitcoin is completely transparent and provable with math. ALL Bitcoin transactions from day 1 are available for viewing and auditing by anyone. That's not true for Ripple.

I understand certain people on this forum want to pump Ripple, but please stop trying to hang on Bitcoin's coattails to do it.

No need to pump XRP because it's not supposed to be a speculative instrument.  You just use it to transfer money

[~Coinseeker~]

XRP is not an IOU.  It's a deflationary, math-based currency, just like Bitcoin.

That's a laugh. XRP is NOTHING like Bitcoin. Bitcoin is completely transparent and provable with math. ALL Bitcoin transactions from day 1 are available for viewing and auditing by anyone. That's not true for Ripple.

I understand certain people on this forum want to pump Ripple, but please stop trying to hang on Bitcoin's coattails to do it.

Both can be stored without counter-party risk and both prevent double spending, by design.  That is cryptocurrency....period. Distribution methods may differ, but that's irrelevant to me, especially with XRP's intended purpose, and that's not as a speculative commodity.  A currency is not defined by it's value but rather by its usefulness.  So from that perspective, you're right.  XRP is not Bitcoin...and fortunately so.  That allows XRP to remain useful in its purposes of spam prevention and bridge currency, and not just a means for a few people, to "get rich quick".

As has been said repeatedly, if you don't like any particular currency, don't use it.  Ripple is currency agnostic.  Use what you want, other people will use what they want.  Freedom baby!

[Peter R]

XRP is not an IOU….with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them [your IOUs] freely…In Ripple, an IOU is not a means by which you can buy something now, and pay later.  It's a representation of actual assets you own.  When you exchange those IOU's, the asset balance is transferred to the new owner.  The IOU simply determines who now owns that balance.

So you're telling me that it actually is an IOU?

[~Coinseeker~]

XRP is not an IOU….with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them [your IOUs] freely…In Ripple, an IOU is not a means by which you can buy something now, and pay later.  It's a representation of actual assets you own.  When you exchange those IOU's, the asset balance is transferred to the new owner.  The IOU simply determines who now owns that balance.

So you're telling me that it actually is an IOU?

No, not at all.  XRP can be stored without counter-party risk and doesn't require trust to send.  Thus, no IOU ever need be created for it.  It already exists within the Ripple network as an asset.  IOU's are representations of balances you hold, with 3rd parties.  Exchanges, banks, paypal, etc.

[El Dude]

ripple is not a coin and shouldn't be on that list , the second most valuable coin is Litecoin.

[jonald_fyookball]

That's exactly what he's talking and why Ripple is intriguing.  Currently to send money across distances you need a clearing house.  You are correct that Hawala does this without a clearing house & Ripple is a digital version of Hawala.

The reason why you want this is because people use different local currencies.  If my Chinese supplier only accept RMB as payment and if I want to use BTC how can the transfer take place?  Either there is a clearing house that takes my BTC and gives him RMB or something like Ripple.

But why use an IOU/promise-to-pay (XRP) when I can use an asset/commodity (BTC)?

XRP is not an IOU.  It's a deflationary, math-based currency, just like Bitcoin.  It prevents ledger spam and acts as a bridge between two currencies.  Say BTC -> XRP -> YEN.  And you don't have to necessarily use it, if there's a cheaper path.  

An IOU is just a balance that you have with a 3rd party.  If you go to your Bitstamp or Cryptsy account, it will display how much BTC, USD, etc you have with them, right?  That's your balance and that balance is an IOU.  They  "owe" you, X amount.  It's just an IOU that is trapped in a central entity.  (Well, of course Bitstamp is the largest Ripple gateway, so you can have access to your Bitstamp IOU's within Ripple.)

So again, with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them freely into other things of value or even pay someone with them.  Which just means, you're transferring that balance, to someone else.  In Ripple, an IOU is not a means by which you can buy something now, and pay later.  It's a representation of actual assets you own.  When you exchange those IOU's, the asset balance is transferred to the new owner.  The IOU simply determines who now owns that balance.

Wow.  So, not only is ripple rubbish, but it actually may be counterproductive to bitcoin adoption in that it acts as a bandaid to the fiat system.

[Peter R]

No, not at all.  

Let me try again:

XRP is not an IOU….with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them freely…In Ripple, an IOU is not a means by which you can buy something now, and pay later.  It's a representation of actual assets you own. When you exchange those IOU's, the asset balance is transferred to the new owner.  The IOU simply determines who now owns that balance.

Sounds like it involves IOUs to me.  

[BittBurger]

Why has Ripple decreased so much in Market cap? Used to be second to Bitcoin

1.  Because they aren't doing jack shit.

2.  Because they aren't doing jack shit in the way of marketing, publicity, news articles, etc.

-B-

[~Coinseeker~]

Sounds like it involves IOUs to me.  

Ripple does involve IOU's and that's a good thing.  XRP, however, is not an IOU.  It's an asset that exist within the network and stored without counter-party risk.

Why has Ripple decreased so much in Market cap? Used to be second to Bitcoin

1.  Because they aren't doing jack shit.

2.  Because they aren't doing jack shit in the way of marketing, publicity, news articles, etc.

-B-

Ripple is doing plenty, Ripple isn't however, a consumer product so you're not going to get consumer focused marketing.  

[jonald_fyookball]

No, not at all.  

Let me try again:

XRP is not an IOU….with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them freely…In Ripple, an IOU is not a means by which you can buy something now, and pay later.  It's a representation of actual assets you own. When you exchange those IOU's, the asset balance is transferred to the new owner.  The IOU simply determines who now owns that balance.

Sounds like it involves IOUs to me.  

Ripple does involve IOU's and that's a good thing.  XRP, however, is not an IOU.  It's an asset that exist within the network and stored without counter-party risk.

Why has Ripple decreased so much in Market cap? Used to be second to Bitcoin

1.  Because they aren't doing jack shit.

2.  Because they aren't doing jack shit in the way of marketing, publicity, news articles, etc.

-B-

Ripple is doing plenty, Ripple isn't however, a consumer product so, you're not going to get consumer focused marketing. 

Why do you like ripple?

[~Coinseeker~]

Why do you like ripple?

Lots of reasons.  Here's a few:

1.  It's currency agnostic
2.  It eliminates central clearing houses and centralized exchanges
3.  It federates payment networks (SMTP for money)

Overall, I just think Ripple makes sense and allows access to monetary freedom, for more people, while still allowing them to use their existing things of value.  Remittences for example, is a big reason I like Ripple.  I'm also a big merchant guy so, understanding merchants would prefer to make one integration and allow their customers to pay in any currency, while still receiving just USD, is huge.  That replaces the need for merchant accounts for credit cards, then a separate integration for each cryptocurrency you want to accept.  It's just common sense innovation, IMO.