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

[JoelKatz]

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?

Manipulation that causes a price increase harms Ripple Labs because price increases due to manipulation are always followed by comparable declines. Ripple Labs is not a short term speculator in XRP.

[blackbird307]

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.

If RTXP is incredible technology, so is PoS lol....

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?

Who, why? It doesn't matter who, the real question is why. The answer to that question can be found in the altcoin section. Ripple doesn't have alot of volume, it wouldn't be very hard to do.


Trust nobody.

[vincentvincent]

I think the great dump is started

[xcapator]

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?

does it really matter where the coins come from? could be the same whales over and over again with the same amount of coins just swingtrading till XRP dies

[TaunSew]

Ripple was something that could had been made in the 1990s, it's heavily centralized and a few people at Ripple labs control the entire blockchain and public ledger - they can give themselves free coins if they wanted.

[dregos]

hm... I doubt that a respected Stanford proffesor would be sitting in RL board if it was such a scam... i don't think she would destroy her name so easy..


http://www.forbes.com/sites/laurashin/2014/11/26/who-will-benefit-from-digital-currency-bitcoin-experiment-gives-a-glimpse/

[Sukrim]

Ripple was something that could had been made in the 1990s, it's heavily centralized and a few people at Ripple labs control the entire blockchain and public ledger - they can give themselves free coins if they wanted.

Can you show me where in the code(!) that would happen? https://github.com/ripple/rippled

[hypostatization]

Ripple was something that could had been made in the 1990s, it's heavily centralized and a few people at Ripple labs control the entire blockchain and public ledger - they can give themselves free coins if they wanted.

Can you show me where in the code(!) that would happen? https://github.com/ripple/rippled

Check papers from Goldman sachs.

It's on the internet... they tried to regulate Bitcoin with a patent but that didn't worked.
I think at the October or November mark in Coindesk there was a article with whitepaper.

Does this mean you are unable to produce the link?

[hypostatization]

Ripple was something that could had been made in the 1990s, it's heavily centralized and a few people at Ripple labs control the entire blockchain and public ledger - they can give themselves free coins if they wanted.

Can you show me where in the code(!) that would happen? https://github.com/ripple/rippled

Check papers from Goldman sachs.

It's on the internet... they tried to regulate Bitcoin with a patent but that didn't worked.
I think at the October or November mark in Coindesk there was a article with whitepaper.

Does this mean you are unable to produce the link?

This means people who really want to know this, have to use google for some time.
Fed up telling you what we had yesterday as news.

I will give you 1 BTC if you are able to produce a previously published Goldman Sachs whitepaper showing a vulnerability in the rippled code base. It should be easy money if you are not making things up.

[Sukrim]

Ripple was something that could had been made in the 1990s, it's heavily centralized and a few people at Ripple labs control the entire blockchain and public ledger - they can give themselves free coins if they wanted.

Can you show me where in the code(!) that would happen? https://github.com/ripple/rippled

Check papers from Goldman sachs.

It's on the internet... they tried to regulate Bitcoin with a patent but that didn't worked.
I think at the October or November mark in Coindesk there was a article with whitepaper.

http://www.coindesk.com/?s=goldman
http://www.coindesk.com/?s=sachs
http://www.coindesk.com/?s=ripple
http://www.coindesk.com/?s=paper
http://www.coindesk.com/?s=whitepaper
http://www.coindesk.com/?s=patent

...got an actual link somewhere? I seriously can't find the article you're (vaguely) referencing.

[hypostatization]

Ripple was something that could had been made in the 1990s, it's heavily centralized and a few people at Ripple labs control the entire blockchain and public ledger - they can give themselves free coins if they wanted.

Can you show me where in the code(!) that would happen? https://github.com/ripple/rippled

Check papers from Goldman sachs.

It's on the internet... they tried to regulate Bitcoin with a patent but that didn't worked.
I think at the October or November mark in Coindesk there was a article with whitepaper.

Does this mean you are unable to produce the link?

This means people who really want to know this, have to use google for some time.
Fed up telling you what we had yesterday as news.

I will give you 1 BTC if you are able to produce a previously published Goldman Sachs whitepaper showing a vulnerability in the rippled code base. It should be easy money if you are not making things up.

StealthCoin, I am now raising this offer to 10 BTC.

[JoelKatz]

The ledger history is public. All ledger changes are accompanied by the cryptographically-signed transactions that justify them. All validations and proposals are signed. If Ripple Labs ever misused any power it had, there would be clear, indisputable proof that we had done so. At that point, one of two things would happen. Either other stakeholders would take over the network, possibly rewind or amend the ledger, and Ripple would continue without us, or nobody would bother and Ripple would die.

It's also important to understand that the Ripple network is only a custodian of XRP. For all other assets, there is a counterparty who actually owes you the asset. If, for example, Bitstamp owes you one Bitcoin, this is reflected on the Ripple ledger, but it is a fact independent of the existence of the Ripple network. Nothing Ripple Labs can do can make Bitstamp owe you more or fewer Bitcoins. For assets other than XRP, Ripple is just a record of obligations that actually exist independently.

Any power we have to violate expectations is just a drag on adoption because it makes it harder to rely on those expectations. And we can never actually use it. This is why increasing decentralization benefits Ripple Labs.

[kokojie]

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.

Decentralized cryptocurrency are able to do "stable", for example Nubits or BitUSD (from Bitshares), they maintain a peg of 1:1 to USD. There's no need to go to a centralized private company like Ripple for "stable".

[Sukrim]

At least BitUSD are just 1:2 leveraged derivatives upon BTS price and will get in serious trouble if the BTS price spikes >=50% down quickly. This of course might never happen, then again I personally am not going to bet on that.

Haven't looked into "Nubits" so far...

[hypostatization]

Ripple was something that could had been made in the 1990s, it's heavily centralized and a few people at Ripple labs control the entire blockchain and public ledger - they can give themselves free coins if they wanted.

Can you show me where in the code(!) that would happen? https://github.com/ripple/rippled

Check papers from Goldman sachs.

It's on the internet... they tried to regulate Bitcoin with a patent but that didn't worked.
I think at the October or November mark in Coindesk there was a article with whitepaper.

Does this mean you are unable to produce the link?

This means people who really want to know this, have to use google for some time.
Fed up telling you what we had yesterday as news.

I will give you 1 BTC if you are able to produce a previously published Goldman Sachs whitepaper showing a vulnerability in the rippled code base. It should be easy money if you are not making things up.

StealthCoin, I am now raising this offer to 10 BTC.

Sorry my fault it was JP Morgan

http://climateerinvest.blogspot.de/2013/12/jp-morgan-has-patented-bitcoin-like.html

http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20130317984&OS=20130317984&RS=20130317984

Except even that has no mention of any vulnerability in the rippled code base.

[hypostatization]

Have we even said that they found a vulnerability  ? We only said its centralized.

Sukrim asked for evidence of your claims in code, to which you responded he should look for a Goldman Sachs whitepaper. I offered a bounty if you could deliver. Instead, you delivered information about a patent covering a different system from JP Morgan, which is tangential to ongoing Ripple discussion at best. And you continued to reply to that reply chain throughout.

I admire your tenacity in fighting for what you believe in. In the specific case of Ripple, I get the sense that you have previously been misled. I used to have a somewhat similar understanding of Ripple, when I first started lurking bitcointalk.org. It is hard to separate the signal from noise on these forums, with all of the constant speculative hysteria, and it gets a bit weird when you realize how inaccurate so many of the regular propaganda slogans are.

Bitcoin and mining systems are awesome tech/ideas, but not without problems. I believe the same holds true for Ripple.

[hypostatization]

Well the Patent is the Whitepaper if you read it ofc. It is nothing different then the Ripple Whitepaper just more text in it which is harder to understand.
You can't show any code if they didn't even write their own electronic currency at last they don't tell use more about it.

Here is the Ripple Conensus whitepaper. Can you explain your view of its specific relationship to the JP Morgan patent?

I am having trouble following your argument that it is "nothing different then the Ripple Whitepaper just more text in it which is harder to understand."

It seems they are focused on different topics.

[Sukrim]

Have we even said that they found a vulnerability  ? We only said its centralized.

Nope, you (actually TaunSew) said:

Ripple was something that could had been made in the 1990s, it's heavily centralized and a few people at Ripple labs control the entire blockchain and public ledger - they can give themselves free coins if they wanted.

Can you show me where in the code(!) that would happen? https://github.com/ripple/rippled

My argument against the centralization claim is that I run my own node for far more than a year now, I have yet to see any proof that anyone (RippleLabs or not) can issue themselves free coins on the current ledger. The only way known tome to get more XRP is to start a different ledger (kinda like generating a different Genesis block in Bitcoin). Since then you tried to make some tangents to JP-Morgan patents or whitepapers...
Again: Where is the code(!) that enables people to issue themselves "free" XRP at will?

[poncom]

Ripple is a payment protocol for a electric currency

Same is the JP Morgan patent.

155. A computer-implemented method of providing an anonymous payment from a mobile device to a payee device to enable an electronic payment between a payer and a payee without provision of an account number or name from the payer, the method comprising: storing, in a computer memory at a host server, payer information and instructions; and accessing the computer memory using a computer processor to retrieve the payer information and instructions and executing the instructions to perform steps including: receiving at the host server, a bill payment message from the payee, the bill payment message including a transaction ID; transmitting the transaction ID to the payer, the transaction ID permitting the payer to initiate transmission of a payment amount; generating a payment authorization message from the payer, the payment authorization message including a payment amount to be tendered to the payee and the transaction ID, the transaction ID allowing identification of the payment, thereby enabling redemption of the payment amount after the payee receives the transaction ID; and transferring the payment amount from an account associated with the payer to an account associated with the payee.

[0018] The present invention represents a new paradigm for effectuating electronic payments that leverages existing platforms, conventional payment infrastructures and currently available web-based technology to enable e-commerce in both the virtual and physical marketplace. The concept provides a safe, sound, and secure method that allows users (consumers) to shop on the Internet, pay bills, and pay anyone virtually anywhere, all without the consumer having to share account number information with the payee. Merchants receive immediate payment confirmation through the Electronic Funds Transfer (EFT) network so they can ship their product with confidence that the payment has already been received. The present invention further enables small dollar financial transactions, allows for the creation of "web cash" as well as provides facilities for customer service and record-keeping.

This is a good one

[0026] The Account Reporter is a flexible component offering instant payment confirmation, reconciliation and record retention so that merchants can track purchase orders against actual payments in real time. Every VPL transaction can be stored, searched, and retrieved. This archival/retrieval functionality is the perfect instrument for customer service and data mining. The Account Reporter offers all of the above features, without the need to actively engage in funds management as is required with the prior art.

It's only a patent application that's not been approved by a patent examiner yet. I doubt it will be approved because if anybody has previously demonstrated something similar it's not allowed. This sounds like bitcoin, ripple, or any other crypto. Here's the details.

United States Patent Application   20130317984
Kind Code   A1
O'Leary; Denis ;   et al.    November 28, 2013
Method and system for processing internet payments using the electronic funds transfer network

Abstract
Embodiments of the invention include a method and system for conducting financial transactions over a payment network. The method may include associating a payment address of an account with an account holder name, the account residing at a financial institution and the associated payment address of the account configured to allow withdrawals by the account holder only and to allow a plurality of deposits to be made at different times. The method further includes freely publishing the payment address and making it available to users of an internet portal or search engine. The method further includes receiving data over a network identifying a deposit to be made to the account, assigning the deposit to the account using the payment address, and notifying the payer of the assignment.

[Sukrim]

Apparently you don't read my posts, I already answered to that one in a different thread:

https://bitcointalk.org/index.php?topic=873067.msg9690126#msg9690126

https://wiki.ripple.com/Freeze

So no one can take away your Ripple you said ?

If you mean "XRP" with "Ripple", yes, you can not freeze them.

https://wiki.ripple.com/Freeze#Individual_account_freezing

If an account has currencies from multiple gateways, only the particular issuances from the freezing gateway are frozen. As XRP does not have an issuer, it cannot be frozen.

Freezing enables gateways to keep control over stuff they have issued on Ripple (e.g. Bitstamp can stop you from trading both on their exchange AND within Ripple if you deposited money with them).

Again you try to get away from providing proof that new XRP can be issued at will. Even if they could be frozen (which they can't!), this still wouldn't mean that new XRP can be created at will.