Opinion: Why Ripple/XRP Doubled In Value in Less Than A Week

[hypostatization]

Ripple is not a currency its just a Payment Protocol. So why we are even talking about Ripple in Altcoin Discussion ?

Exactly. For all it's failings: Cryptocurrencies started because of a noble idea. To free the people of the deathgrip by the banks.
Ripple is just leeching off the positive movement - while betraying it. Just like BP when they changed their oil corp. logo into a neat green sun.

Back to the roots ! First we got hammered by the Banking Cartel.. then we found decentralized currency.. now Ripple wants us go back again.

You can't be your own bank with Ripple.. you always need someone like a Bank central authority who is allowed to handle USD/EUR/CNY

Ripple is positioning itself against the big correspondent banks, at least in the area of international transfers. Its technology enables smaller and more innovative banks and financial services to compete in international transfers, and that is the current emphasis of bank adoption.

USD/EUR/CNY/BTC/LTC/DOGE, while on the network, are similar to the concept of bank notes. A use case would CryptoExchange.A and CryptoExchange.B both having BTC markets and Ripple integration, as well as trust lines or liquid markets for IOU/note exchange. A user from CryptoExchange.A sees an arbitrage opportunity on CryptoExchange.B. Instead of withdrawing BTC to transfer over the BTC network (slow), the user could instantly transfer his balance between the exchanges, and can take advantage of the arbitrage opportunity while everyone else waits for confirmations. Ripple.

XRP is a currency and accounts for the value tracked on coinmarketcap.com.

[hypostatization]

Bullshit, Ripple is just a bridge currency. learn to read.

Ripple’s design focus is as a currency exchange and a distributed payment system

In other words it works like a decentral exchange witch is controlled by only one Company which is a joke. Night Trader is totally open source and no one is controlling anything there.

http://en.wikipedia.org/wiki/Ripple_%28payment_protocol%29

I wrote the description of XRP as a currency that I linked to. Like BTC, XRP is a deflationary currency that requires zero counterparty trust. It simultaneously facilitates activity on the Ripple network supporting transaction and exchange of foreign currencies. All of that points to value in my eyes.

Ripple Labs has taken a utility first approach. By making the Ripple network as useful as possible,  that also supports the long term value of XRP, as it is an integral component of the features the network needs to operate.

Ripple is a distributed network and protocol, running on open source software, not a centralized exchange.

[hypostatization]

https://forum.ripple.com/viewtopic.php?f=1&t=2023

For anyone with valid concerns about the promises of future "openness" of Ripple, this is a big concern. Although the OpenCoin, Inc. Terms of Use says that "You acknowledge and agree that OpenCoin does not own or control Ripple," it in fact does own and control the "Ripple" brand. And they've already started suing other companies to protect its proprietary interests.

OpenCoin has already started suing other companies for using the word "Ripple" in their products (in this case, it opposed a company applying for a trademark on the term "RIPPLE CARD")

On September 26, 2013, OpenCoin Inc. changed its name to Ripple Labs Inc.

Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners

Do you see the problem here ?

I don't know but in the real world you own it if you have 51% of something.

Ripple is a distributed network and protocol, running on open source software, not a centralized exchange.

I hope the this size of the font will finally make it able to use to read.

Brand usage guidelines . I believe the issue arose during the early days of Ripple when scammers were actively misleading the community,  attempting to use the Ripple brand to lure in users. If a RL staff member could correct me on this point, if inaccurate,  it would be appreciated. I believe there may also be liability concerns.

[hypostatization]

One thing you need understand. If you have Bitcoin inside your XRP because its just a "POD" a payment protocol which only says it has BTC but it don't.

XRP is not a pod that stores other currencies. External currencies are issued independently on the network.

So if you sell your BTC means it will just buy Bitcoin from the current market and give you your Fiat money.

What happens if you hold BTC over 1 month and the price goes up ? Yes you are fucked ! Why because they buy Bitcoin when you sell or change your settings on your POD.

Using XRP is a Protocol could be useful for some people but keep in mind if they don't have any BTC to buy for the last price you will always get less.

You are incorrect on concerns of IOU redemption value. Issued BTC IOU are generally redeemable 1:1 in off-network BTC---regardless of off-network price fluctuations. Also check ripplecharts.com for trade prices within the network; they follow off network exchange values.

This alone is proof that its not a Currency because it don't hold value it uses other currency's as value.

XRP is an independent deflationary zero counterparty risk currency, like Bitcoin, and traded for its own unique value within the Ripple network. It makes the higher level functionality of Ripple possible.

Don't forget this is a old system, means they give you a Certificate which only SAY's that you own your ASSET's in your Ripple POD but if the next exchange/bank can't give you any because they got SCAMED like with MT.GOX or other things then its OVER!

We are in agreement!

IOU on the Ripple are only as trustworthy as their issuers. They are, however, arguably potentially slightly safer than storing in a centralized exchange, in that Ripple allows you to more quickly exit your position or transfer out in the event issues arise.

Keeping your BTC in a well secured BTC cold wallet is the safest option, no doubt.

Ripple adds value at exchange, transfer, settlement, and payment levels---not storage.

In contrast to IOU, however, XRP has zero counterparty risk, which is why many convert all external assets to XRP. A common pattern is jumping in and out of XRP to take advantage of market fluctuations.

This is why almost every Bitcoin holder hates it.  Only people that don't know how to read are buying this crap.
Ripple is trading air through the Internet and everyone believes that they hold something valuable.

I think this thread does well illustrating that a lot of the knee jerk negative responses to Ripple in this community arise from misunderstanding.

[qwizzie]

to OP : i bet you regret creating this post by now

[God27]

to OP : i bet you regret creating this post by now

Why? He's been on here for years (way before he joined the RL team) and states his opinion every so often.  What is there to regret?  He knew the premine shit would come along but maybe there was a chance of a successful conversation on bitcointalk but it failed once again.  There were other threads asking this question, so he started his own.  There was not one thing said to make him regret anything. 

What do you think there is to regret?  That Ripple Labs is going to sell/distribute xrp over the next few years so the market cap is going to jump every month but at the same time the xrp price stays stable?

[Sukrim]

Ripple is not a currency its just a Payment Protocol. So why we are even talking about Ripple in Altcoin Discussion ?

Because every time you even mention Ripple outside of Altcoin Discussion, threads get moved here by mods. This leads to further confusion of course, since a lot of people view Ripple (the platform) synonymously with XRP (the currency). You amongst them probably, judging from your (slightly confused) answers.

BTC don't hold value either by the way, other than their utility.

[hypostatization]

Ripple is not like Bitcoin stop this shit and Proof that Ripple is a currency.

XRP != Ripple. Ripple is a distributed protocol and network. XRP is its built-in network currency, which does not entail counterparty risk. It is similar to Bitcoin in that specific regard. Its value is tracked on coinmarketcap.com.

You can learn about both Ripple and XRP on Wikipedia in this article.

I am not sure what your criteria is for proving XRP is a currency.

[misterbigg]

to OP : i bet you regret creating this post by now

Why? He's been on here for years (way before he joined the RL team) and states his opinion every so often.  What is there to regret?  He knew the premine shit would come along but maybe there was a chance of a successful conversation on bitcointalk but it failed once again.  There were other threads asking this question, so he started his own.  There was not one thing said to make him regret anything. 

What do you think there is to regret?  That Ripple Labs is going to sell/distribute xrp over the next few years so the market cap is going to jump every month but at the same time the xrp price stays stable?

Well...took the words right out of my mouth! I couldn't have said it better!

[hypostatization]

Ripple is not like Bitcoin stop this shit and Proof that Ripple is a currency.

XRP != Ripple. Ripple is a distributed protocol and network. XRP is its built-in network currency, which does not entail counterparty risk. It is similar to Bitcoin in that specific regard. Its value is tracked on coinmarketcap.com.

You can learn about both Ripple and XRP on Wikipedia in this article.

I am not sure what your criteria is for proving XRP is a currency.

Its value is tracked on coinmarketcap.com.

Complete Bullshit. You can manipulate this one a push of a button. Ripple has 100Billion coins but why we only see 30Billion ?
This is manipulation of conversation and twisting arguments this is all i got from Ripple Shills all the time.

Already covered. Ripple Labs does not control how coinmarketcap.com calculates market capitalization. If you want to see the data for the full quantity, it is available via a drop down on coinmarketcap.com.

[Sukrim]

Coinmarketcap used to look like this:
http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/

Since people complained that "premined" coins are overinflated and only publicly available amounts should be displayed, the default page was switched to "Market Cap by Available Supply" (See the dropdown menu when you click on "Currencies").

It is a bit saddening that it is still quite hard to have an actual discussion about Ripple on Bitcointalk without having to explain fundamentals (and threads getting derailed or at least trolled). Also, while XRP is a currency, I personally do not particularly recommend anyone to buy more than you'd need to run an account (which amounts to less than the cost of 1 Starbucks Latte of Mr. Karpeles). If you want to speculate on its value, as already said numerous times in this thread: There are REALLY big whales like Ripple Labs out there that hold several times more than what's on the market right now. If that still doesn't scare you - trade away I guess?!

I see the utility of Ripple not in XRP, they are one of the more boring parts actually. Unfortunately it's hard to talk about the more exciting ones, as a lot of people around here seem to be more fixed upon the idea of Platform == Currency (which doesn't even really apply to Bitcoin).

[misterbigg]

It is a bit saddening that it is still quite hard to have an actual discussion about Ripple on Bitcointalk without having to explain fundamentals (and threads getting derailed or at least trolled)...Unfortunately it's hard to talk about the more exciting ones, as a lot of people around here seem to be more fixed upon the idea of Platform == Currency (which doesn't even really apply to Bitcoin).

I thought things might have changed around here after my hiatus but it seems the same as ever. It really is a shame that there isn't a good neutral place to have mature discussions (except for xrptalk.org, which is closing).

[paycum]

It is a bit saddening that it is still quite hard to have an actual discussion about Ripple on Bitcointalk without having to explain fundamentals (and threads getting derailed or at least trolled)...Unfortunately it's hard to talk about the more exciting ones, as a lot of people around here seem to be more fixed upon the idea of Platform == Currency (which doesn't even really apply to Bitcoin).

I thought things might have changed around here after my hiatus but it seems the same as ever. It really is a shame that there isn't a good neutral place to have mature discussions (except for xrptalk.org, which is closing).

I agree but its because this forum is mostly used by altcoin members and they are like greenpace followers the only thing they want is a decentralized system and everything that doesnt meet their point of view will be bashed unfortunately.

And like the greenpeace followers their intentions are good, but they just dont understand that the things they want will never be used by the mass, simply because the world doesnt work that way. Im not saying altcoins are bad, but they will never be more then a niche market thats a simple fact because governments demand regulation and they need to control money to be able to handle taxes and to avoid criminal activities.

In my opinion ripple combines the two worlds together. So fast, easy and cheap payments through the regular channels.

So you can say what you want but they will probably always be against ripple. Its like starting a discussion with a vegitarian about meat!

[Sukrim]

I am unsure actually where to discuss Ripple. Every time I try to start a discussion here, it gets flooded by "gtfo shill" posters, if you try to discuss Ripple, not XRP you still get moved to Altcoin-hell and I seriously dislike XRPTalk...

On the other hand this makes Ripple even more "obscure", people think they know more about Ethereum or Open Transactions than a decentralized exchange that runs for nearly 2 years now. Maybe stackexchange might work?

[Zer0Sum]

It is a bit saddening that it is still quite hard to have an actual discussion about Ripple on Bitcointalk without having to explain fundamentals (and threads getting derailed or at least trolled)...Unfortunately it's hard to talk about the more exciting ones, as a lot of people around here seem to be more fixed upon the idea of Platform == Currency (which doesn't even really apply to Bitcoin).

I thought things might have changed around here after my hiatus but it seems the same as ever. It really is a shame that there isn't a good neutral place to have mature discussions (except for xrptalk.org, which is closing).

Ya man, let's have a "discussion" about Ripple with an employee of Ripple Labs.

Ripple is obviously positioning itself to be bought out by a BANK...
And that will finally close the circle of deceit and betrayal:

(1) Under false pretenses bootstrap a corporation on top of the Bitcoin community.

(2) Lie about everything for 2 years.

(3) Sell out to a bank... the mortal enemies of the Bitcoin community.


"See the little faggot with the earring and the makeup...
That little faggot got his own jet airplane...
That little faggot he's a millionaire.

That ain't workin' that's the way you do it...
Money for nothin' and chicks for free."

[nikb]

It is a bit saddening that it is still quite hard to have an actual discussion about Ripple on Bitcointalk without having to explain fundamentals (and threads getting derailed or at least trolled)...Unfortunately it's hard to talk about the more exciting ones, as a lot of people around here seem to be more fixed upon the idea of Platform == Currency (which doesn't even really apply to Bitcoin).

I thought things might have changed around here after my hiatus but it seems the same as ever. It really is a shame that there isn't a good neutral place to have mature discussions (except for xrptalk.org, which is closing).

Ya man, let's have a "discussion" about Ripple with an employee of Ripple Labs.

Ripple is obviously positioning itself to be bought out by a BANK...
And that will finally close the circle of deceit and betrayal:

(1) Under false pretenses bootstrap a corporation on top of the Bitcoin community.

(2) Lie about everything for 2 years.

(3) Sell out to a bank... the mortal enemies of the Bitcoin community.


"See the little faggot with the earring and the makeup...
That little faggot got his own jet airplane...
That little faggot he's a millionaire.

That ain't workin' that's the way you do it...
Money for nothin' and chicks for free."

Rolling my eyes any finite number of degrees is not a sufficient response to this... let's be generous and call it a post.

[nikb]

I am unsure actually where to discuss Ripple. Every time I try to start a discussion here, it gets flooded by "gtfo shill" posters, if you try to discuss Ripple, not XRP you still get moved to Altcoin-hell and I seriously dislike XRPTalk...

On the other hand this makes Ripple even more "obscure", people think they know more about Ethereum or Open Transactions than a decentralized exchange that runs for nearly 2 years now. Maybe stackexchange might work?

You're always welcome on the official forum Sukrim!

[blackbird307]

lol  



Seriously, wtf am I even looking at here?

I think any discussion with Ripple belongs in the Altcoin section, with all the P&D scams, pre-mines, etc.

That is NOT normal, I think anyone should seriously reconsider before putting any money into this.

[bonipper]

Yep, seen this too and the only thing this remembered me on was MT.GOX they had the same pattern with the Willy bot.

Roughly what date did you see this pattern on MT.GOX? Was it near the time it closed down?

[clubsofsteel]

i think its great that ripple has been tripleing in price..keep going baby!