Proof that Ripple numbers are manipulated by Coinmarketcap, there is no boom!

[Spoetnik]

The price of Ripple is manipulated through massive increase of supply.
The coin supply has increased 4 times but its value has only increased by less than half.

Hello smarty?
Ever traded on a stock market?
Massive increase of supply will ALWAYS cause a sharp fallback. Need more buyers to eat them you know  

Hmmm too bad this isn't a Stock Market smart ass LOLOLOOLOOLOLOLOLOLOLOLOLOL

This is an UN-Regulated NO rules FREE (For all) Scam Market

BIG FUCKING DIFFERENCE sweatheart    

I laugh at you douches that pretend this is the NY Stock exchange of Altcoin'ery.. your a bunch of sad pathetic scammy delusional stupid clowns !

STFU and go climb back in your little scam-coin clown-car now.. Hoooooooonk Hooooooooooooonk  

[CryptoGuu]

Coinmarketcap have to remove ripple to assets, I will message them or i will stop using coinmarketcap.

[TaunSew]

A lot of the people like to post the Wolf of Wallstreet movie photos and gifs, too bad half the shit here would get them locked up if this was anywhere near regulated like the stock exchange.

We know Ripple is going to be raided and shut down by the FBI once they get too big.  Lol what's the price of Ripple if the developers are in federal prison?  How much Ripple buys a prison cigarette, buy candy at the canteen or to have a swing at the transgendered inmate?  Wait no never mind Ripple is centralized.  At least Bitcoin would continue if the founders were all locked up but to shut down Ripple all you have to do is unplug a few mainframes at Ripple Labs' headquarters and poof - Ripple worth zilch.

[Lorenzo]

https://archive.org/web/

Source is from the way back machine.

What Ripple did was get Gliss (possible allegation of bribes?) to manipulate the number of available Ripple coins, even though well over 90%+ of Ripple has always been held by the developers.    

Since they control so much of Ripple (90%+ in actuality) they can pump and dump all day and manipulate the price too.

The majority of XRP has always been in the hands of Ripple Labs and its developers. They can release their XRPs onto the market any time they want and instantly increase the market cap that way.

Nevertheless, Ripple is doing very well at the moment. Normally, an increase in supply would have boosted the market cap for a short while but I would have expected prices to eventually account for this and adjust downwards accordingly but instead, the price seems to be going the opposite way - i.e., up not down.

[Sukrim]

Coinmarketcap have to remove ripple to assets, I will message them or i will stop using coinmarketcap.

XRP are a cryptocurrency, USD/BTC/EUR/... on Ripple are assets (these are not tracked on coinmarketcap atm.).

[...]to shut down Ripple all you have to do is unplug a few mainframes at Ripple Labs' headquarters and poof - Ripple worth zilch.

Maybe worth "zilch", the network would continue running though. Anyone (with certain ressources, hardware + bandwidth wise) can run a full node. Code is here, under a very(!) permissive license: https://github.com/ripple/rippled

I find the homophobic vibe from some "critics" here ("Ripple is gay", "faggy IPO", "faggotry", "shitty gay bullshit", "douches", "have a swing at the transgendered inmate") quite off-putting by the way.

Is it really that hard to provide criticism based upon facts ("Ripple is centralized because ... is in the code, see it here on github" or something along these lines) instead of just making blanket statements with 0 followup ("Wait no never mind Ripple is centralized.") and sprinkle on some insults ("your a bunch of sad pathetic scammy delusional stupid clowns"), threats ("I will message them or i will stop using coinmarketcap") or even just post with 0 content ("Who gives a shit about Ripple anyway? I certainly don't")?

[Sukrim]

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).

[sdersdf3]

Marketcap is worthless.  What should be tracked is 1 year change in price.

I'd argue that the price, especially these days, is almost as worthless as marketcap. What matters is the order book - the depth of the order book.

The current "price" of many altcoins is held up by less than 1BTC worth of demand, with a huge drop off in buy order pricing after that. A lot of struggling coins desperately try to prop up the impression that demand is stronger than it is by making the price look higher than what it really is. But the depth of the buy order book tells the real story about what a coin is really worth (or isn't worth) - what people are willing (or unwilling) to pay for it.

[Sukrim]

Hm, so in essence a metric for "price after selling 1/10/100/1000 BTC worth of $coin across all markets"? Potentially the opposite would also be interesting ("price after buying...")?

There is a problem though with exchanges that allow unfunded orders... Say I own 1 BTC on exchangeX and want to buy either 1 BTC worth of Acoin or Bcoin. I enter 2 positions: Limit buy 1 BTC worth of Acoin and limit buy 1 BTC worth of Bcoin. Whatever order gets fulfilled first, has won, the other order might be cancelled/not displayed as unfunded after that.
The question is now: Is the market depth for Acoin and Bcoin now 1 BTC each? 0.5 BTC each? 0 BTC, since we can't know what will happen? If exchanges don't report on the owners of positions (and they likely won't), this is quite difficult to decide.

So yes, this metric would be great to have, it could become manipulated easily though, but at least the manipulators also have some risk (once a trade actually happens, they lost all other positions in all other books).

[hypostatization]

I would love to see more charting sites attempt to measure market liquidity (interesting problem), and then use those scores as weights in other measurements. I think it could help reduce ongoing market manipulation across all cryptocurrencies. Price + Market Cap + Volume as sole fixations, as currently calculated, almost promote manipulation.

CoinGecko is getting smart in that regard.

Any other sites using new interesting scoring approaches?

Edit: corrected link on measuring market liquidity - originally linked to a different paper

[Sachem07]

It sounds like there is a lot of fear on this thread that Ripple might be able to deliver something that Bitcoin has not been able to.   

[ParabellumLite]

It sounds like there is a lot of fear on this thread that Ripple might be able to deliver something that Bitcoin has not been able to.   

There is, but above all a lot of ignorance and sheer hate. It is understandable, as a lot of people here have invested heavily in Bitcoin and quite a few have lost money. A competitor would be detrimental to any future gains.

[sdersdf3]

Hm, so in essence a metric for "price after selling 1/10/100/1000 BTC worth of $coin across all markets"? Potentially the opposite would also be interesting ("price after buying...")?

Exactly, that's the only measure that matters - funded, of course, like what's shown on Bittrex. Think about it - do you really care what the current "market price" is or what you end up getting per coin on average if you sell or buy "x" amount? That's the only price that really matters to you - what you get on average per coin when you sell (or as a buyer, what you pay on average per coin that you buy). In many cases, after you buy or sell, the market price clearly turns out to be just a mirage.

In many low-liquidity coins, there is a massive difference between the market (initial) price and the order-queue-determined (average) price. Many dying coins still trading are effectively worthless - they're the walking dead.

Notice that this seems to be the focus of the whale pump-and-dumpers. They focus like a laser beam on the order book. Once buy orders get really fat at a high level at or near the market price, they dump to maximise their earnings. This is why you often see a massive BTC windfall even when the price chart doesn't show much of a drop off in price - yet (the sharp drop off is often revealed later on in the dump stage when others subsequently dump after the whale has into a devestated order book where pricing has been eaten up and destroyed by the whale).

That's why you see the massive excitement over relatively small % price changes in BTC - because those % changes actually mean something. There's a lot more BTC behind them. Back in the old days, DRK, VRC, etc., when they were high-liquditity coins, the market price was or was close to what you got on average per coin when you sold.

The current market price means nothing if there's less than a BTC of buy orders left behind it, sustaining it.

And that's the story of the current market collapse - it's worse than what it looks like if you look at prices alone. There's no real buy support, no real demand, for many of these coins.

[gogxmagog]

I thought honey badger didn't give a shit, seems like he's awful pissed about ripple!
What I can't believe is; how so few people neglected the free giveaway ripple did when it came out. What were they afraid of? I grab most free giveaways when I can. It's free after all, and it's not like I'll be ostracized or humiliated. I'm not in middle school so I don't care if someone calls my stuff "gay"
Also, I don't get why XRP is perceived as a threat to btc. You don't have to get very far into the literature to see it is complimentary in its relation to other currencies.
I do think this price spike could be an over valuation though. Not a pump. I will continue to hodl my XRP - my two possible outcomes will be= moon, or XRP worth exactly what I paid for it (zero)

[spacerman]

For anyone to think that Ripple is a scam at this point is either in denial or an investor looking to push the price down. The CEO is very public, and a renowned player in the alt currency market. They have public events to spread awareness for their platform--most recently they did Around the World in 5 Seconds. And they have actually signed banks to use their platform. Ripple Labs is a private business that is looking to utilize XRP in order to run their extremely ambitious goals of connecting fiat currency to the digital realm.

I would also like to add that MIT's Technology Review recognized Ripple Labs as one of the 50 smartest companies today. There's a lot of positive faith in the Ripple protocol:

https://twitter.com/cryptospacesuit/status/539184416422387712

[hypostatization]

For anyone to think that Ripple is a scam at this point is either in denial or an investor looking to push the price down. The CEO is very public, and a renowned player in the alt currency market.

I love that Ripple haters gloss over the fact that CEO Chris Larsen was a pioneer in social/p2p lending as the founder of Prosper.

[beber456]

Ripple manipulated by Coinmarketcap , really ? ..
Wtf , true ? or its  just in order to affraid people
When i see the "trust" of the post maker is dont know lol ...but  facts dont lies ..

[Sukrim]

So, who said i was FUDing about telling people that this is just a P&D ?

Uhm, I have yet to read any statement that indicates otherwise.

I believe myself that this is just some random Pump + Dump strategy (though likely not done by Ripple Labs' (ex) employees). This has no real influence on Ripple itself though, Bitcoin was pumped + dumped multiple times too already in the past.

[hypostatization]

Ripple manipulated by Coinmarketcap , really ? ..
Wtf , true ? or its  just in order to affraid people
When i see the "trust" of the post maker is dont know lol ...but  facts dont lies ..

Here is my take on the manipulation accusations.

[Sukrim]

You mean a MT.GOX scam is good sometimes ?

A lot of bag holders will disagree, but i think your wallet says otherwise you greedy shill

Well, I didn't trade XRP at all for months now, in case you were directing your comment at me....

I don't think MtGox "scams" (being very VERY incompetent != scam...) are good, I just said they happened in Bitcoinland before too, P&D are not something extraordinary or unique and not indicative of anything other than a few people managing to move a small market.

[JoelKatz]

So, who said i was FUDing about telling people that this is just a P&D ?

Sure the investor that bough it cheap don't want you to know that ... but keep believe them

I think we can all agree that it doesn't reflect any significant change in the fundamental value of XRP. Nothing fundamental changed. It doesn't follow that it's a pump and dump, it could be simple market momentum. But I think it's pretty obvious that any sudden, drastic increase in price that doesn't have any apparent justification is likely to be accompanied by a corresponding drop in price.

And, of course, everyone thinks they can buy in, wait for it to reach the top, and then sell out before it drops. But simple common sense will tell you that that it's impossible for everyone to make a profit if the price returns to where it was before.

Long term increases in the price of XRP benefit Ripple Labs because they allow us to sell XRP at a better price and because they are perceived as market confidence in the success of the Ripple network. To some extent, people's willingness to invest in using the Ripple network is dependent on how well they think it will do in the future and long term price increases help. But short term price increases due to momentum or manipulation inevitably followed by corresponding drops in price don't help Ripple Labs at all. The drops can send precisely the opposite signal, and the net result of a rise and drop is a weakening in the connection between the price of XRP and the long-term viability of the Ripple network.

Ripple Labs is not a short-term XRP speculator.