Why is Ripple price going mad right now?

[Atdhe]

I think it poses a big question --- whether Bitcoin will remain due to it's advantage of being the first or will it be dethroned by others. Fact is that decentralization is the future. Everything that can be decentralized will be decentralized. Ripple is perhaps the last pathetic breath of the centralized money transmitting system that is based on debt (IOUs).

I think the advantage is the key point and bet on the advantage.

But even Bitcoin used for real transactions is of course based on IOU. Any money is and always will be. Otherwise it is not money.

[Hyena]

I think it poses a big question --- whether Bitcoin will remain due to it's advantage of being the first or will it be dethroned by others. Fact is that decentralization is the future. Everything that can be decentralized will be decentralized. Ripple is perhaps the last pathetic breath of the centralized money transmitting system that is based on debt (IOUs).

I think the advantage is the key point and bet on the advantage.

But even Bitcoin used for real transactions is of course based on IOU. Any money is and always will be. Otherwise it is not money.

Bitcoins have nothing to do with IOU's because there is no debt system inside Bitcoin plain and simple.

Also, how will the ripple network overcome foul nodes? Essentially the bigger the ripple network grows the higher is a chance that some node will be compromised or will go rogue and run away with money. the nodes could even practise some sick reserve banking. At least with bitcoin it is cool that all the nodes either follow the same protocol or become incompatible. ripple is a much more loose concept.

[DooMAD]

Another Aurora coin.  The "available supply" is deceiving as it actually isn't available, that amount is mostly held by Ripple employees who signed lockup agreements preventing them from selling for several years.   The end result is only a miniscule amount of Ripple is actually put up for sale and there's a bidding war for what little available Ripple there is.

This and sheep. I'll never touch Ripple.

Or Stellar.  They're both terrible bankster coins.

Whatever happened to ripple being some super centralized premine scamcoin?

Some of us still think that, for what it's worth.  I don't get the sudden hype around it.  Just because banks are taking an interest in it, doesn't mean the rest of us should.  Quite the opposite, in fact.  Everyone should know by now that it's not a system that works in your interest when banks are involved.

[God27]

I dont like Ripple, seriously you dont own your private key and your funds can be locked by them, it ridiculous perversion of the Bitcoin ideals.

XRP can't be locked?

[The Chainmaker]

I have seen a lot of positive developments over the last few months.

• Earthport partnership
• Fidor bank
• CBW Bank + Cross River Bank
• Astropay Intrabank network
• Shift Payments Card
• SnapSwap SmartyCard
• Noted in NACHA Future of Corporate Payments white paper
• GBI Gateway - and many others
• Codius smart programs/contracts

I do not think anyone can say with certainty what is moving the price, but I would assume that at least part of it relates to the above.

These are all great developments for Ripple.  But really none of these developments mean the price should go up.  Every single one of these banks/services can buy $100 worth of XRP and have enough to make transactions for months. 

[flipme]

I have seen a lot of positive developments over the last few months.

• Earthport partnership
• Fidor bank
• CBW Bank + Cross River Bank
• Astropay Intrabank network
• Shift Payments Card
• SnapSwap SmartyCard
• Noted in NACHA Future of Corporate Payments white paper
• GBI Gateway - and many others
• Codius smart programs/contracts

I do not think anyone can say with certainty what is moving the price, but I would assume that at least part of it relates to the above.

These are all great developments for Ripple.  But really none of these developments mean the price should go up.  Every single one of these banks/services can buy $100 worth of XRP and have enough to make transactions for months. 

Why not? It's like a thriving penny stock handed over to them, for free.
It has all it takes to become a major vehicle itself.

[TaunSew]

I dont like Ripple, seriously you dont own your private key and your funds can be locked by them, it ridiculous perversion of the Bitcoin ideals.

XRP can't be locked?

They (Ripple) can lock your account pretty much like paypal;

I am not sure about that. Can anyone confirm?

https://wiki.ripple.com/Freeze

[tokeweed]

I dont like Ripple, seriously you dont own your private key and your funds can be locked by them, it ridiculous perversion of the Bitcoin ideals.

XRP can't be locked?

They (Ripple) can lock your account pretty much like paypal;

I am not sure about that. Can anyone confirm?

they can't. when you open a ripple wallet, you get a secret key which only you know.  so if it is even possible that somebody can lock your account, all you have to do is go here:  https://www.rippletrade.com/#/login, click account recovery then type in your secret key.  the client will prompt you to make a new password.  as long as you have your secret key, you have full control of your account.

[tokeweed]

I dont like Ripple, seriously you dont own your private key and your funds can be locked by them, it ridiculous perversion of the Bitcoin ideals.

XRP can't be locked?

They (Ripple) can lock your account pretty much like paypal;

I am not sure about that. Can anyone confirm?

https://wiki.ripple.com/Freeze

Yes the gateways can freeze the IOUs you hold but I don't think ripplelabs can lock your account and prevent you from sending XRPs. I can be wrong as I'm not that familiar with it.

yup you're right.  and i should point out that some ripple gateways do not like the freeze feature and disabled it. afaik, once it's disabled, you cannot enable it anymore.

[tokeweed]

I think it poses a big question --- whether Bitcoin will remain due to it's advantage of being the first or will it be dethroned by others. Fact is that decentralization is the future. Everything that can be decentralized will be decentralized. Ripple is perhaps the last pathetic breath of the centralized money transmitting system that is based on debt (IOUs).

I think the advantage is the key point and bet on the advantage.

But even Bitcoin used for real transactions is of course based on IOU. Any money is and always will be. Otherwise it is not money.

Bitcoins have nothing to do with IOU's because there is no debt system inside Bitcoin plain and simple.

Also, how will the ripple network overcome foul nodes? Essentially the bigger the ripple network grows the higher is a chance that some node will be compromised or will go rogue and run away with money. the nodes could even practise some sick reserve banking. At least with bitcoin it is cool that all the nodes either follow the same protocol or become incompatible. ripple is a much more loose concept.

it's a good thing you pointed this out, i hope someone from ripple labs is lurking these forums and give us an answer.

[misterbigg]

it's a good thing you pointed this out, i hope someone from ripple labs is lurking these forums and give us an answer.

I'm really trying to muster up the energy for a proper response but to be honest, the negativity on this forum towards anything that isn't bitcoin or promising overnight riches makes it not worth the hassle of posting. Any discussion of Ripple is met with false accusations of centralization, scamming, or shilling. Why should anyone waste their time writing up a lengthy reply? Ripple is going to succeed with or without approval from the bitcointalk peanut gallery.

[tokeweed]

it's a good thing you pointed this out, i hope someone from ripple labs is lurking these forums and give us an answer.

I'm really trying to muster up the energy for a proper response but to be honest, the negativity on this forum towards anything that isn't bitcoin or promising overnight riches makes it not worth the hassle of posting. Any discussion of Ripple is met with false accusations of centralization, scamming, or shilling. Why should anyone waste their time writing up a lengthy reply? Ripple is going to succeed with or without approval from the bitcointalk peanut gallery.

sure.  but i think it would be nice to have an answer here.  and if ever that question comes up again we could use your reply as reference. 

...  or maybe show joelkatz the question so he could answer it...?  he prolly will have more patience and spare us the time to make a reply. 

thanks.

[God27]

it's a good thing you pointed this out, i hope someone from ripple labs is lurking these forums and give us an answer.

I'm really trying to muster up the energy for a proper response but to be honest, the negativity on this forum towards anything that isn't bitcoin or promising overnight riches makes it not worth the hassle of posting. Any discussion of Ripple is met with false accusations of centralization, scamming, or shilling. Why should anyone waste their time writing up a lengthy reply? Ripple is going to succeed with or without approval from the bitcointalk peanut gallery.

Yep, the constructive criticism and pure innovation has left this forum a long time ago.  All of us hoping that feeling will come back one day because bitcoin changed our lives.

Some major players and posters the last few years have totally logged out of their usernames and have been inactive for a year or more now.  They still comeback here but they want to stay out of the spotlight not giving anyone a chance to steal their fortune.

Asking questions will take you far in life, what has shilling done for anyone here? Nothing

Your example is flawed. You say that the transaction fee will be only 1/10 of a penny. What happens if Ripple grows and new XRPs are not handed out in the system? The value of XRPs will go up without bound. Especially because, once an account is funded the XRPs are "locked in." From an analysis perspective they are effectively destroyed since they can't leave the account. That means that the rate of deflation is many orders of magnitude greater than the rate of XRP destruction due to transaction fees. "Implausible in the extreme" is only true if no one controls the bulk of the XRP supply.

50 billion XRP will be given away by Opencoin. But it still doesn't matter. So long as there are enough XRP in circulation to perform transactions, XRP still won't limit the ability of people to perform transactions. Over a quadrillion drops have already been given away, and consensus can change the base transaction fee to less than a drop.

I keep hearing about how easy it is to change the transaction fee through the consensus mechanism. But no one has explained exactly what criteria a gateway will use to determine if the fee needs to be adjusted.

The primary criterion will be what they believe the transaction fee should be. The secondary criterion will be what they believe they can get a consensus on.

I believe I explained the mechanism in more detail in another thread, but here's a summary:

1) Validators add to specific validations an indicator of what they think the transaction fee should be.

2) Validators look at other validations to see whether there's a sufficient consensus for moving the transaction fee up or down.

3) Validators then add pseudo-transactions to change the fee.

4) If a pseudo-transaction gets voted into the consensus transaction set, fees change as of the next ledger.

A similar mechanism is used to make logic changes, except nodes won't themselves vote yes on a change unless they see it has a supermajority or if they are specifically configured to treat the change is urgent.

There is no specific check for spammy transactions. If it has the correct fee, it will be processed. If the network is overloaded, slow nodes will bow out of the consensus process and the transaction fee will rise to maintain stability.

[tokeweed]

still no news as to why XRP went up.  could this be the driver of XRP's recent rise?

charles xue:  http://en.m.wikipedia.org/wiki/Charles_Xue



he confirmed that he is investing in ripple last september.  so he probably made is move recently, then traders being traders, pumped the shit out of XRP.

what do you guys think?

[BlindMayorBitcorn]

still no news as to why XRP went up.  could this be the driver of XRP's recent rise?

charles xue:  http://en.m.wikipedia.org/wiki/Charles_Xue



he confirmed that he is investing in ripple last september.  so he probably made is move recently, then traders being traders, pumped the shit out of XRP.

what do you guys think?

That is exactly what I think

[junglemouse]

it's a good thing you pointed this out, i hope someone from ripple labs is lurking these forums and give us an answer.

I'm really trying to muster up the energy for a proper response but to be honest, the negativity on this forum towards anything that isn't bitcoin or promising overnight riches makes it not worth the hassle of posting. Any discussion of Ripple is met with false accusations of centralization, scamming, or shilling. Why should anyone waste their time writing up a lengthy reply? Ripple is going to succeed with or without approval from the bitcointalk peanut gallery.

Can you explain how its not centralized?

[misterbigg]

i think it would be nice to have an answer here.  and if ever that question comes up again we could use your reply as reference. 

Again, what for? It's already been answered a few times. There's even a white paper on it.

[tokeweed]

i think it would be nice to have an answer here.  and if ever that question comes up again we could use your reply as reference. 

Again, what for? It's already been answered a few times. There's even a white paper on it.

link?

[princesultan1]

it's a good thing you pointed this out, i hope someone from ripple labs is lurking these forums and give us an answer.

I'm really trying to muster up the energy for a proper response but to be honest, the negativity on this forum towards anything that isn't bitcoin or promising overnight riches makes it not worth the hassle of posting. Any discussion of Ripple is met with false accusations of centralization, scamming, or shilling. Why should anyone waste their time writing up a lengthy reply? Ripple is going to succeed with or without approval from the bitcointalk peanut gallery.

i agree with this response.

[Hyena]

it's a good thing you pointed this out, i hope someone from ripple labs is lurking these forums and give us an answer.

I'm really trying to muster up the energy for a proper response but to be honest, the negativity on this forum towards anything that isn't bitcoin or promising overnight riches makes it not worth the hassle of posting. Any discussion of Ripple is met with false accusations of centralization, scamming, or shilling. Why should anyone waste their time writing up a lengthy reply? Ripple is going to succeed with or without approval from the bitcointalk peanut gallery.

i agree with this response.

I don't think it's a good excuse. One should not let negativity affect them. If you encounter opposition and give up then the bad guys win. Opposition is always present, that's the nature of our universe. You should take it as a challenge without attaching any petty feelings to it.

The basic difference between an ordinary person and a warrior is that a warrior takes everything as a challenge, while an ordinary person takes everything as a blessing or a curse.