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

[smalltimer]

i think the ripple shills are paid off to spam the forum

[blackbird307]

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

Even if Ripple is legit, I wouldn't buy any right now.
 
Looks like a {Almost} double bottom being formed on 1h chart for BTC/XRP. Just by looking at the price on coinmarketcap, you can see it's already gone parabolic, so it's not really safe to buy at this point, too late. Assuming it's rising under normal market conditions, which I REALLY DOUBT.

One or both the other may happen right now.
1. The house of cards is about to come down, any moment now
2. Bitcoin is going to explode

I am going with number one, and number two.

[newuser01]

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

Even if Ripple is legit, I wouldn't buy any right now.
 
Looks like a {Almost} double bottom being formed on 1h chart for BTC/XRP. Just by looking at the price on coinmarketcap, you can see it's already gone parabolic, so it's not really safe to buy at this point, too late. Assuming it's rising under normal market conditions, which I REALLY DOUBT.

One or both the other may happen right now.
1. The house of cards is about to come down, any moment now
2. Bitcoin is going to explode

I am going with number one, and number two.

This

Dump your XRP now or be the bagholder

[God27]

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

Even if Ripple is legit, I wouldn't buy any right now.
 
Looks like a {Almost} double bottom being formed on 1h chart for BTC/XRP. Just by looking at the price on coinmarketcap, you can see it's already gone parabolic, so it's not really safe to buy at this point, too late. Assuming it's rising under normal market conditions, which I REALLY DOUBT.

One or both the other may happen right now.
1. The house of cards is about to come down, any moment now
2. Bitcoin is going to explode

I am going with number one, and number two.

This

Dump your XRP now or be the bagholder

There is only the pump...

[e-coinomist]

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!

Sad fact, I know you hit on the truth there. Assume miners make some 10~15% ROI, meaning they just have to dump ~90% of their monthly mining outcome. Bitcoin is constantly bleeding out value, arriving at the pockets of the power supply companys. It is both a true waste of resource and sure death for BTC at the same time.

Don't want to bore with numbers, but 92% of all daily trade volume has been BTC+LTC when I was last looking at them. These both "are crypto" and POW mined. POS coins just don't count by size.

Just that alone does not make Ripple valid.

[TheMage]

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!

Sad fact, I know you hit on the truth there. Assume miners make some 10~15% ROI, meaning they just have to dump ~90% of their monthly mining outcome. Bitcoin is constantly bleeding out value, arriving at the pockets of the power supply companys. It is both a true waste of resource and sure death for BTC at the same time.

Don't want to bore with numbers, but 92% of all daily trade volume has been BTC+LTC when I was last looking at them. These both "are crypto" and POW mined. POS coins just don't count by size.

Just that alone does not make Ripple valid.

Interestingly enough, those miners and the electric that is paid for them to operate are exactly what is backing the Bitcoin/Litecoin/Dogecoin/PoW price (much as gold used to back the US dollar).

[flipme]

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!

Sad fact, I know you hit on the truth there. Assume miners make some 10~15% ROI, meaning they just have to dump ~90% of their monthly mining outcome. Bitcoin is constantly bleeding out value, arriving at the pockets of the power supply companys. It is both a true waste of resource and sure death for BTC at the same time.

Don't want to bore with numbers, but 92% of all daily trade volume has been BTC+LTC when I was last looking at them. These both "are crypto" and POW mined. POS coins just don't count by size.

Just that alone does not make Ripple valid.

Interestingly enough, those miners and the electric that is paid for them to operate are exactly what is backing the Bitcoin/Litecoin/Dogecoin/PoW price (much as gold used to back the US dollar).

Yea, and exactly that freak show is what limits trust and broad adoption, as a real currency.
We got to get rid off the miners and PoW. Its a shit concept, attracting all kinds of the wrong people.

BTW RIPPLE is just jumping again, SnapSwap struggles to fill buy orders.

[goosoodude]

Ripple is heavily centralised. It is not the ideal crypto but rather like one of the companies.
They hold big reserves and can manipulate the market at will.

[blackbird307]

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!

Sad fact, I know you hit on the truth there. Assume miners make some 10~15% ROI, meaning they just have to dump ~90% of their monthly mining outcome. Bitcoin is constantly bleeding out value, arriving at the pockets of the power supply companys. It is both a true waste of resource and sure death for BTC at the same time.

Don't want to bore with numbers, but 92% of all daily trade volume has been BTC+LTC when I was last looking at them. These both "are crypto" and POW mined. POS coins just don't count by size.

Just that alone does not make Ripple valid.

Satoshi designed bitcoin that way for a reason. He even said it himself, "The price of a commodity tends to gravitate towards the cost" -- Satoshi Nakamoto. No miners are going to sell at a loss, they will sell at a price that meets the cost, and the demand will seek that price. If there was no mining, there would be no decentralization. Whether Bitcoin be $10, $30, $266, or $1000, doesn't matter the price, every year I hear the same damn remark from some Noob that thinks he understands.


Bitcoin doesn't even compare to the expense of the United States monetary system alone!

Why buy Ripple coin when you can buy USD coin?

It's an endless crusade.

[junglist.massive]

I think that protocols like Ripple has bright future in business

[smalltimer]

there is no art in creating a central virtual currency like ripple. This could have been done 10 years ago. Ripple is inferior to decentralised crypto. All hype and pump. Tears and drama in the end.

[TheMage]

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!

Sad fact, I know you hit on the truth there. Assume miners make some 10~15% ROI, meaning they just have to dump ~90% of their monthly mining outcome. Bitcoin is constantly bleeding out value, arriving at the pockets of the power supply companys. It is both a true waste of resource and sure death for BTC at the same time.

Don't want to bore with numbers, but 92% of all daily trade volume has been BTC+LTC when I was last looking at them. These both "are crypto" and POW mined. POS coins just don't count by size.

Just that alone does not make Ripple valid.

Interestingly enough, those miners and the electric that is paid for them to operate are exactly what is backing the Bitcoin/Litecoin/Dogecoin/PoW price (much as gold used to back the US dollar).

Yea, and exactly that freak show is what limits trust and broad adoption, as a real currency.
We got to get rid off the miners and PoW. Its a shit concept, attracting all kinds of the wrong people.

BTW RIPPLE is just jumping again, SnapSwap struggles to fill buy orders.

Limits trust and adoption?

I'm sorry, please point me to the Bitcoin board of directors that legislates and determines how bitcoins are distributed?

It may be a shit concept, but better than what ripple has to offer. Again you didnt dispute the fact that ripple essentially has zero backing except for the fact it is backed by mere speculation.

[nwtrades]

Ripple as the network and RTXP as a protocol both are incredible pieces of technology... definitely a LOT of value in there.  I'm a Bitcoiner same as the rest of you but I don't know how you guys can look at this with blinders on.  I've read the Ripple whitepapers, used the system and researched the valuation basis in depth.  There is actually something credible here.  It's not Bitcoin, it's a little different, but it will be of tremendous value to the financial system.  I am sure it will beat Bitcoin toward the goal of networking the world's currencies for fast value transfer while still saving money for the little guy.  Ripple has already pulled ahead of Bitcoin in terms of connecting with banks and such.

[smalltimer]

Ripple as the network and RTXP as a protocol both are incredible pieces of technology... definitely a LOT of value in there.  I'm a Bitcoiner same as the rest of you but I don't know how you guys can look at this with blinders on.  I've read the Ripple whitepapers, used the system and researched the valuation basis in depth.  There is actually something credible here.  It's not Bitcoin, it's a little different, but it will be of tremendous value to the financial system.  I am sure it will beat Bitcoin toward the goal of networking the world's currencies for fast value transfer while still saving money for the little guy.  Ripple has already pulled ahead of Bitcoin in terms of connecting with banks and such.

1) you are no bitcoiner
2) go connect with banks
3) you sound like a whiny bitch "buy ripple please"
4) prostitutes earn a lot of money too. Should everyone be a prostitute now?
5) ripple is BS to speculate on - if you can make use of its services, sweet for you. But buying more than what you personally need (more than 5$ worth) is a very moronic idea.
6) advertising to people to speculate on ripple is unethical bahaviour.

[nwtrades]

Ripple as the network and RTXP as a protocol both are incredible pieces of technology... definitely a LOT of value in there.  I'm a Bitcoiner same as the rest of you but I don't know how you guys can look at this with blinders on.  I've read the Ripple whitepapers, used the system and researched the valuation basis in depth.  There is actually something credible here.  It's not Bitcoin, it's a little different, but it will be of tremendous value to the financial system.  I am sure it will beat Bitcoin toward the goal of networking the world's currencies for fast value transfer while still saving money for the little guy.  Ripple has already pulled ahead of Bitcoin in terms of connecting with banks and such.

1) you are no bitcoiner
2) go connect with banks
3) you sound like a whiny bitch "buy ripple please"
4) prostitutes earn a lot of money too. Should everyone be a prostitute now?
5) ripple is BS to speculate on - if you can make use of its services, sweet for you. But buying more than what you personally need (more than 5$ worth) is a very moronic idea.
6) advertising to people to speculate on ripple is unethical bahaviour.

Do you realize that Ripple and XRP are separate things?  Please point to where I proposed to buy XRP, because it's clearly not even mentioned.

If you want to talk about Bitcoin, it would be worth almost $0 without the banks. Libertarians could go back to trading amongst themselves off-market but it is otherwise doomed without exchanges and connections to banking infrastructure.

Most of the world's population is not interested in their money value gyrating out of control.  They prefer stability of their national currency and Ripple simply connects points together like Bank A -> Bank B very quickly for these currencies to work together.  Bitcoin can be exchanged too.  Several Bitcoin exchanges are already connected and act as trading gateways.

[flipme]

Ripple as the network and RTXP as a protocol both are incredible pieces of technology... definitely a LOT of value in there.  I'm a Bitcoiner same as the rest of you but I don't know how you guys can look at this with blinders on.  I've read the Ripple whitepapers, used the system and researched the valuation basis in depth.  There is actually something credible here.  It's not Bitcoin, it's a little different, but it will be of tremendous value to the financial system.  I am sure it will beat Bitcoin toward the goal of networking the world's currencies for fast value transfer while still saving money for the little guy.  Ripple has already pulled ahead of Bitcoin in terms of connecting with banks and such.

1) you are no bitcoiner
2) go connect with banks
3) you sound like a whiny bitch "buy ripple please"
4) prostitutes earn a lot of money too. Should everyone be a prostitute now?
5) ripple is BS to speculate on - if you can make use of its services, sweet for you. But buying more than what you personally need (more than 5$ worth) is a very moronic idea.
6) advertising to people to speculate on ripple is unethical bahaviour.

1) Ignorance is bliss
2) You are a retard

[TaunSew]

Ripple as the network and RTXP as a protocol both are incredible pieces of technology... definitely a LOT of value in there.  I'm a Bitcoiner same as the rest of you but I don't know how you guys can look at this with blinders on.  I've read the Ripple whitepapers, used the system and researched the valuation basis in depth.  There is actually something credible here.  It's not Bitcoin, it's a little different, but it will be of tremendous value to the financial system.  I am sure it will beat Bitcoin toward the goal of networking the world's currencies for fast value transfer while still saving money for the little guy.  Ripple has already pulled ahead of Bitcoin in terms of connecting with banks and such.

1) you are no bitcoiner
2) go connect with banks
3) you sound like a whiny bitch "buy ripple please"
4) prostitutes earn a lot of money too. Should everyone be a prostitute now?
5) ripple is BS to speculate on - if you can make use of its services, sweet for you. But buying more than what you personally need (more than 5$ worth) is a very moronic idea.
6) advertising to people to speculate on ripple is unethical bahaviour.

1) Ignorance is bliss
2) You are a retard

Ripple is the prostitute of the blockchain?   

[gogxmagog]

Ripple sure seems to leave a lot of people here severely butthurt.

Didn't you sign up and get the free 35000 XRP when it came out? I did. worth around 500 bux right now. free money. feelsgoodman.

Ripple is NOT competition to bitcoin. it is made to work with bitcoin and other alts. its the bridge between bitcoin usability and "bitcoin will fail 'cuz joe blow cant figure out how to get and use it!"

Thats not just a good thing, it is SORELY NEEDED.

XRP adoption will help btc. But dont believe me, just watch and see.

[JoelKatz]

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

1) Why would banks like Ripple/XRP?

Banks don't have interest in XRP, and we don't expect them to. They do, however, have interest in Ripple as an efficient payment system for fiat currencies. There are specific problems they have that Ripple can solve.

2) Why would banks liking it be a good thing?

It's the same reason the military liking the Internet was a good thing. Ripple works better for everyone if there's significant liquidity in the network across issuers and currencies.

Let's take a step back for a second.

Ripple is basically a universal payment system where people can issue, redeem, hold, transfer, and trade arbitrary assets denominated in any currency. To make payments works, Ripple uses a pathfinding system as a kind of "matchmaker". If I hold Bitcoins and want to pay someone in dollars, the pathfinding finds some person or combination of people willing to trade US dollars for my Bitcoins. The payment takes place atomically, so there's no risk of default by an intermediate or being stuck with an intermediary asset. This makes all the liquidity usable.

When we designed Ripple, we basically threw away everything we knew about how the financial system actually worked and designed a completely generic platform for assets. We took the public database with cryptographically signed transactions arbitrated without the need for a central authority from Bitcoin.

You can use Ripple as a payment system without knowing anything about XRP. You just need a very small amount of XRP to cover reserves and pay transaction fees. We expect $10 worth to cover a typical account's needs for many years. We hope that XRP will be useful as an intermediary asset. XRP has no counterparty and can flow between any two account. Other assets on Ripple have a counterparty (the issuer of the asset) and can only be held by those who have agreed to trust that counterparty.

A key difference between Ripple and other systems where a counterparty holds your assets is that people who have chosen different counterparties can still freely pay each other. When you use PayPal, you trust PayPal to hold your dollars and pay you out when you receive payments. But you can also only make payments to and from people who similarly trust PayPal. With Ripple, I can choose to trust SnapSwap to hold my dollars, but freely make payments to and from people who have no relationship with SnapSwap whatsoever.

[CECVW]

The question is, why and who double the value of ripples as we see it now in coinmarketcap?

Who and why? I believe its not people like us but Ripple management who is doing this, its obvious, for the last week it has gone up slowly and steadily, clear indication of possible manipulation of price , not because of trading, and now today is not going up or down in price , its fixed! so can someone explain to me this other to what I have just said?