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Author Topic: Mine XRP Ripple for free on DigitalOcean ($10 Free Credit)  (Read 7731 times)
newuser01
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November 30, 2014, 11:05:27 PM
 #21

You don't

You buy them on an exchange.. even when this worked people weren't really mining them anyway, just exchanging computing power for premined coins.

Thank you for the reply. What about the other billions of XRP that have not been released yet? How will RippleLabs distribute them?

I don't know for sure but I would have to guess that they will end up selling them. They are not doing this for charity.

..There is a reason why they still own ~70% of the supply. (correct me if I am wrong, 30 billion are publicy traded, 70 billion are held by ripple labs)
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hypostatization
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November 30, 2014, 11:13:06 PM
 #22

You don't

You buy them on an exchange.. even when this worked people weren't really mining them anyway, just exchanging computing power for premined coins.

Thank you for the reply. What about the other billions of XRP that have not been released yet? How will RippleLabs distribute them?

I don't know for sure but I would have to guess that they will end up selling them. They are not doing this for charity.

..There is a reason why they still own ~70% of the supply. (correct me if I am wrong, 30 billion are publicy traded, 70 billion are held by ripple labs)

~30 billion are held outside of Ripple Labs. Sizable founder allocations exist which are controlled by lockup agreements. Latest distribution stats are available here.

xrptalk.org :: setup a wallet + trade all currencies :: gateway reviews @ coinist.co :: deposit to buy xrp @ snapswap [now supporting PayPal withdrawls + instant ACH transfer deposits]
CrossCoin Ventures startup accelerator - offering XRP funding up to $50,000 USD equivalent
CheekyChappy
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November 30, 2014, 11:20:25 PM
 #23

Thank you newuser01 and hypostatization for the replies.

Ok, so if I have this understood correctly, 70B XRP are with the developers/investors and 30B XRP are with 'others'. And as it stands, the only way for anyone to have XRP added to their wallet is by purchasing them from someone who is selling them.

So they will not be 'giving' them away or 'donating' a sizeable chunk to XRP wallet holders?

Thank you for the clarification, most appreciated.


I know, I know... but the thing is I cannot help it because even though I am an absolute gentleman... I also happen to be a CheekyChappy after all:)
hypostatization
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November 30, 2014, 11:35:17 PM
 #24

Thank you newuser01 and hypostatization for the replies.

Ok, so if I have this understood correctly, 70B XRP are with the developers/investors and 30B XRP are with 'others'. And as it stands, the only way for anyone to have XRP added to their wallet is by purchasing them from someone who is selling them.

So they will not be 'giving' them away or 'donating' a sizeable chunk to XRP wallet holders?

Thank you for the clarification, most appreciated.



I am uncertain if anyone from the group of early Ripple Labs investors overlaps with the founders. Ripple Labs holds the ~70 billion, and have a sizable and rapidly growing team (beyond just software engineers).

Ripple Labs had communicated they were using XRP forgivable loans to incent partners to join the network. Banks are not interested in holding XRP, as a general proposition. At the moment, I believe they have no immediate plans to distribute large sums of additional XRP.

XRP can be purchased on the market/from sellers, granted by the CrossCoin startup accelerator, or obtained through developer bounties. Giveaways are often sponsored by the community and services on the Ripple network. xrptalk.org just added a nice little basic micro-tipping feature.

Here is some perspective on the difficulty of mass distribution of XRP/STR.

xrptalk.org :: setup a wallet + trade all currencies :: gateway reviews @ coinist.co :: deposit to buy xrp @ snapswap [now supporting PayPal withdrawls + instant ACH transfer deposits]
CrossCoin Ventures startup accelerator - offering XRP funding up to $50,000 USD equivalent
CheekyChappy
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November 30, 2014, 11:57:43 PM
 #25

@hypostatization

Will look at the links you provided and learn more about this.

Many thanks for the information Smiley

I know, I know... but the thing is I cannot help it because even though I am an absolute gentleman... I also happen to be a CheekyChappy after all:)
flipme
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December 01, 2014, 10:10:33 AM
 #26

Microsoft still offers 150 € trial credit on their Azure platform.
It was my entry into cryptoland, mining Doge.

http://azure.microsoft.com/en-us/pricing/free-trial/

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December 01, 2014, 10:32:32 AM
 #27

Thank you for the reply. What about the other billions of XRP that have not been released yet? How will RippleLabs distribute them?

If you know the answer for your questions then you might going to be one of the richest ppl on the world one day Smiley.
Apart from the Ripple guys nobody knows the answer for your questions. Actually this is why XRP never been a great success here.

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SuperDay
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December 01, 2014, 03:08:28 PM
 #28

Microsoft still offers 150 € trial credit on their Azure platform.
It was my entry into cryptoland, mining Doge.

http://azure.microsoft.com/en-us/pricing/free-trial/
At presently which doge pool is the most profitable bro?. please share.
CheekyChappy
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December 01, 2014, 05:44:50 PM
 #29

If you know the answer for your questions then you might going to be one of the richest ppl on the world one day Smiley.
Apart from the Ripple guys nobody knows the answer for your questions. Actually this is why XRP never been a great success here.

Hmmm... many thanks Smiley

Seems like a paradox for now but time will tell no doubt...

I know, I know... but the thing is I cannot help it because even though I am an absolute gentleman... I also happen to be a CheekyChappy after all:)
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