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

[e-coinomist]

Lastly, what gives ripple value? And please dont say "investors" because that is a failed economics policy. What backs ripple? And also again, who did those 2 air drops of coins go too?

I would say its utility is its strongest source of value.

Not sure what you are asking about with the airdrops.

Probably referenced the ripple airdrops, https://www.ripplelabs.com/xrp-distribution/

XRP Distribution Strategy

We believe that broad adoption of Ripple as a protocol will result in organic demand for XRP over the long run. Ripple Labs plans to distribute XRP to encourage growth in six categories. The categories are:

    Users - Everyone needs a small amount of XRP to fund an account on Ripple and start using the network. We are committed to broad user giveaways and other programs that bring new users to Ripple. Distributing XRP is a powerful user acquisition strategy. This model is similar to how Paypal grew.

[TaunSew]

This is manipulation of available supply.  In terms of price, before the pump occurred, there was almost no difference.

https://archive.org/web/
(and inputting coinmarketcap.com)


Like in April the price was .005 BTC and now it's 0.009 BTC, so Ripple hasn't even doubled in price.  Most of this recent price gain is because people think Ripple is exploding due to all the faking and manipulation so they are frenzy buying / pumping.

[blackbird307]

This is how ripple plans on getting adoption? Fooling people into investing in them? Sounds like a scam to me, or a desperate act to gain attention. Reminds me of the Mt. Gox Algo bot willy  .

[Sukrim]

lol  

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

Looks like a broken API connection by coinmarketcap to ripplecharts.com to me...

I'm not sure what the other pictures from BTCUSD charts/markets should have to do with Ripple?

This is manipulation of available supply.  In terms of price, before the pump occurred, there was almost no difference.

https://archive.org/web/
(and inputting coinmarketcap.com)


Like in April the price was .005 BTC and now it's 0.009 BTC, so Ripple hasn't even doubled in price.  Most of this recent price gain is because people think Ripple is exploding due to all the faking and manipulation so they are frenzy buying / pumping.

As you tend to delete your posts, here's the answer to another, similar post by you that I wrote today:

Ripple capitalization is just heavily manipulated because they have Gliss on coinmarketcap fiddling with the numbers to make it look bigger than it really is.  Remember when Gliss used to accurately report the number of available Ripple Coins?  What made him changed his mind?  Did he receive a Ferrari as a birthday gift?  Possibly..

https://web.archive.org/web/20140611024200/http://coinmarketcap.com/
(8 billion Ripple coins back then compared to 30 billion Ripple coins now)

2 months before that:
http://web.archive.org/web/20140405192501/http://coinmarketcap.com/
~100 billion XRP (just like now, see http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/), compared to ~30 billion XRP not at RippleLabs.

Because of that ("OMG Ripple = evil, so many coins + premine!") Gliss implemented a check for distribution values which scrapes web sites. Ripple Labs first put on their page (https://www.ripplelabs.com/xrp-distribution/) that they owned 80 billion XRP and handed out ~8 billion of these (June: http://web.archive.org/web/20140625224750/https://www.ripplelabs.com/xrp-distribution/), this is what Gliss put on his page. Some time later RippleLabs put on their page that they owned 80 billion XRP of all 100 billion XRP, handed out ~9 billion and don't own ~29 billion of all the XRP (October: http://web.archive.org/web/20141007095332/https://www.ripplelabs.com/xrp-distribution/) - hence the spike in "market cap of coins in circulation".

[e-coinomist]

Ripple can be confusing, since they use phrases in a different way than we are used to. Taken for example a cold wallet

Creating a New Account

Creating a new account with the downloadable Ripple client is simple. This process will be used if you are just getting started with Ripple, or would like to set up a cold wallet. The cold wallet setup will be put in place by default, as all of the account information will be stored on your computer, and the account will only be online when you are actively logged in.
http://ripple.com/knowledge_center/downloadable-client-account-setup-and-login/

According to Ripple's terminology, a cold wallet is stored on your desktop and connected online with the internet.

[flipme]

RIPPLE is just more of a coin for the smart crowd.
The average working class miner or scam coin creator faces enormous difficulties to comprehend it.
The reason why it is so attractive is just beyond their intellectual horizon.

[blackbird307]

XRP Distribution Strategy

We believe that broad adoption of Ripple as a protocol will result in organic demand for XRP over the long run. Ripple Labs plans to distribute XRP to encourage growth in six categories. The categories are:

    Users - Everyone needs a small amount of XRP to fund an account on Ripple and start using the network. We are committed to broad user giveaways and other programs that bring new users to Ripple. Distributing XRP is a powerful user acquisition strategy. This model is similar to how Paypal grew.

Does anyone remember this:
http://www.finextra.com/news/fullstory.aspx?newsitemid=26100

This guy was gonna market sell all his holdings. How's that for distribution?

Looks like a broken API connection by coinmarketcap to ripplecharts.com to me...

I'm not sure what the other pictures from BTCUSD charts/markets should have to do with Ripple?

Maybe Ripple should have that fixed, or remove them from coinmarketcap altogether. Oh wait, that's their only selling point.

When will this madness end... What a shit show!

[Foerster]

RIPPLE is just more of a coin for the smart crowd.
The average working class miner or scam coin creator faces enormous difficulties to comprehend it.
The reason why it is so attractive is just beyond their intellectual horizon.

haha. I would rather buy simple Dogecoin than XRP. At least they are honest and transparent about their 100 Billion.

[balu2]

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).

maybe you should understand that if you would be pumping another random heavily premined, centralised, trust based scamcoin you would also meet resistance. All scamcoins need to go on their extra forum to not be torn apart. Ripple is no exception. It's not a shame there is no place to discuss it because it's expandable.

It's the perfect example of what most people want not. So why try to shove it down their throat? Why cry if people don't want it shoved down their throat? The xrp-spam around here is pretty annoying.

Speculation on xrp is really idiotic.

[Kaze]

maybe you should understand that if you would be pumping another random heavily premined, centralised, trust based scamcoin you would also meet resistance. All scamcoins need to go on their extra forum to not be torn apart. Ripple is no exception. It's not a shame there is no place to discuss it because it's expandable.

It's the perfect example of what most people want not. So why try to shove it down their throat? Why cry if people don't want it shoved down their throat? The xrp-spam around here is pretty annoying.

Speculation on xrp is really idiotic.
[/quote]

A trillion dollar bank just integrated the ripple protocol on top of one of its trading platforms, integrating your precious btc, ltc, and xrp. This has no meaning? Are you that dense? Other trillion dollar banks are experimenting with the ripple protocol. Do you even know what that is? Keep camping in your tents outside wall street, embracing no agenda and claiming it's what we all want.  You have no idea about the tsunami that is about to come. I've never seen such bullish remarks from the flamers flaming in here. I go to sleep with a smile.

Edit: do you even know what a trillion is?

[TheMage]

Ok ill bite which bank?

[TaunSew]

This is how ripple plans on getting adoption? Fooling people into investing in them? Sounds like a scam to me, or a desperate act to gain attention. Reminds me of the Mt. Gox Algo bot willy  .

It is exactly what I was thinking, some kind of desperate act to gain attention.

Yes Ripple is a scam and an embarrassment. 

[Kaze]

This is how ripple plans on getting adoption? Fooling people into investing in them? Sounds like a scam to me, or a desperate act to gain attention. Reminds me of the Mt. Gox Algo bot willy  .

It is exactly what I was thinking, some kind of desperate act to gain attention.

Yes Ripple is a scam and an embarrassment.  

7 % of ripple has been donated to charity for the underbanked. Actually it's about 23% of available ripple at this point.  Do you know what dd is? Have you or are you able to do that? You are the scammer and embarrassment.  Your ideology is fatally flawed.

Edit: only if Satoshi donated all 1 million of his premine would it come close to what ripple has done.

[TaunSew]

This is how ripple plans on getting adoption? Fooling people into investing in them? Sounds like a scam to me, or a desperate act to gain attention. Reminds me of the Mt. Gox Algo bot willy  .

It is exactly what I was thinking, some kind of desperate act to gain attention.

Yes Ripple is a scam and an embarrassment.  

7 % of ripple has been donated to charity for the underbanked. Actually it's about 23% of available ripple at this point.  Do you know what dd is? Have you or are you able to do that? You are the scammer and embarrassment.  Your ideology is fatally flawed.

Edit: only if Satoshi donated all 1 million of his premine would it come close to what ripple has done.

Giving money to blackhat professionals and employees at Ripple is not charity.

[Kaze]

Since you are unable to provide any semblance of goodwill on satoshi's premine and since money intended for good or evil can still help the less fortunate, let me repeat myself (and I hope those savvy enough go back and read the end of the last page).

7 % of ripple has been donated to charity for the underbanked. Actually it's about 23% of available ripple at this point.  Do you know what dd is? Have you or are you able to do that? You are the scammer and embarrassment.  Your ideology is fatally flawed.

Edit: only if Satoshi donated all 1 million of his premine would it come close to what ripple has done.

[gogxmagog]

I got in on the free 35000 XRP giveaway they did a while ago and now it's worth ~350$ USD. I'm not complaining.
Now Paycoin... That is a scam. XRP might just surprise us all. Havent certain banks mentioned they like it?

Also, XRP is made to go "on the back" of btc, it isn't competition.

[Quicken]

I am new to Ripple discussions so can someone answer these two quick questions please:

1) Why would banks like Ripple/XRP?
2) Why would banks liking it be a good thing?

[God27]

I am new to Ripple discussions so can someone answer these two quick questions please:

1) Why would banks like Ripple/XRP?
2) Why would banks liking it be a good thing?

I'd say banks would need something like ripple (NOT XRP) in the near to far future to stay competitive in today's world.  Just think if a bank starts advertising tomorrow on your TV as: If you open an account today, you can send money to Germany, Russia, China, etc for less than a dollar with no maintenance fees.  Although, ripple is pushing for gateways, trying to give the billions of people without banks a way to transfer money around the world the same way without a bank.

 Nobody knows where XRP will go as an investment, however, based on econometrics, XRP would go up in value when more liquidity and utility enter the network.

[wickedgoodtrader]

What I like about Ripple is it doesn't require mining. Everyone gets up in arms about this, but in the long run.. who gives a fuck if the founders get rich off it. You know the guy who made insta gram or snap chat or some other BS made a billion + dollars. Do they deserve it more then the guys who created ripple?

Here's the problem with a coin that requires mining. It sucks waaay too much capital into shit like miners and electricity. Right now $40 million a month in BTC is mined. If BTC doubles in price, miners will dump their BTC on the market thus putting overhead pressure of tens of millions of dollars so they can spend it on fricking miners! THE MINER PRODUCERS WIN THIS GAME FOLKS! This is why we've been in a long drawn out downtrend that will continue. Why is no one bitching about the mining companies making hundreds of millions of dollars?

The reward halves, but only every 4 years. That means at these prices.. even if the reward was halved it's still $20/mil a month dumped on market to pay for mining costs. I mean seriously.. bitcoin can not withstand paying that amount over the next 5 years. EVERY MONTH.. and remember if the price rises it means only more money dumped on the market for miners.

How much money needs to be dumped onto the ripple market to pay for miners? NONE... this allows itself to build equity, not let it leak out into the pockets of asic and energy producers.

[solid12345]

A trillion dollar bank just integrated the ripple protocol on top of one of its trading platforms, integrating your precious btc, ltc, and xrp. This has no meaning? Are you that dense? Other trillion dollar banks are experimenting with the ripple protocol. Do you even know what that is? Keep camping in your tents outside wall street, embracing no agenda and claiming it's what we all want.  You have no idea about the tsunami that is about to come. I've never seen such bullish remarks from the flamers flaming in here. I go to sleep with a smile.

Edit: do you even know what a trillion is?

Welcome to cryptoland, where any company that does something different than Bitcoin to make profit is automatically labeled a scam. I've seen it being a bagholder of Urocoin, if it isnt coded by some broke autistic nerd in his underwear with a 0% premine it is automatically viewed with distrust and suspicion.

Personally i've had enough losing my shirt buying into ___ coin that promises to "shake the crypto world up!" and ends up being dumped in a week, if I have to sell my soul and buy into a corporate coin to recover my money and make a profit, so be it. This is what capitalism is about baby, good ideas selling good products.

The problem with banks was never the concept of banking itself, it was putting megabanks in charge of government monetary policy which encourages corruption and crony capitalism, the opposite of a true free market. If it wasn't for your local community banks we'd all be stuffing our money under our mattresses and getting robbed by brigands for our gold pieces on the road like the early middle ages.

fyi I don't own any Ripple but might have to pick some up in the near future. I like my investment to go up, not crash 50% the next day.