XRP ( RIPPLE ) Discussion - All about XRP

[Eamorr]

After FINCEN fined Ripple Labs and is telling them what to do with Ripple...  Ripple as a protocol is gone.  It is Paypal 2.0.  Sell.

Ridiculous comparison.

Ripple are compliant and are focused 100% on fitting into existing legal systems and regulatory environments. Bitcoin operators must be looking at FinCEN and get very scared at the consequences of new laws and regulatory muscle flexing. This is only the beginning.

Anyway, Ripple Labs isn't interested in explaining to people like you (Bitcoin zealots) how Ripple's technology works, what Ripple Labs are doing and what's coming down the tracks. In fact, they aren't interested in polluting their ecosystem with Bitcoin zealots because they've seen what has happened to the Bitcoin community and don't want to repeat the same mistakes. Go have your own anonymous, decentralized, untraceable fantasy world built on 2008 technology; but nobody is going to participate in this anarchist hippie commune Utopia because guess what? Nobody wants to!

So ask yourself this, how come you're on anarchist-hippie-commune-Utuopia-talk.org rather than forum.ripple.com? I agree that Ripple Labs isn't interested in gaining traction with Bitcoiners, so why are you bothering to argue it out here? Oh, because Bitcoin has 50X the volume, users and interest.

[currently] has.

Bitcoin's userbase and interest is in terminal decline. Ripple is growing healthily - easily #2 cryptocurrency.

And yes, I have a forum.ripple.com account (which is quite corporatey) and an xrptalk.org account (which is far more fun). You should try it some time. You might even enjoy yourself.

[canth]

After FINCEN fined Ripple Labs and is telling them what to do with Ripple...  Ripple as a protocol is gone.  It is Paypal 2.0.  Sell.

Ridiculous comparison.

Ripple are compliant and are focused 100% on fitting into existing legal systems and regulatory environments. Bitcoin operators must be looking at FinCEN and get very scared at the consequences of new laws and regulatory muscle flexing. This is only the beginning.

Anyway, Ripple Labs isn't interested in explaining to people like you (Bitcoin zealots) how Ripple's technology works, what Ripple Labs are doing and what's coming down the tracks. In fact, they aren't interested in polluting their ecosystem with Bitcoin zealots because they've seen what has happened to the Bitcoin community and don't want to repeat the same mistakes. Go have your own anonymous, decentralized, untraceable fantasy world built on 2008 technology; but nobody is going to participate in this anarchist hippie commune Utopia because guess what? Nobody wants to!

So ask yourself this, how come you're on anarchist-hippie-commune-Utuopia-talk.org rather than forum.ripple.com? I agree that Ripple Labs isn't interested in gaining traction with Bitcoiners, so why are you bothering to argue it out here? Oh, because Bitcoin has 50X the volume, users and interest.

I've got accounts on both, hold a bit of XRP even. What I don't do is bother crapping on Ripple and expounding on the merits of decentralized Bitcoin all over those forums. I'm sure people would find it annoying and I would be wasting my breath.

[God27]

After FINCEN fined Ripple Labs and is telling them what to do with Ripple...  Ripple as a protocol is gone.  It is Paypal 2.0.  Sell.

Ridiculous comparison.

Ripple are compliant and are focused 100% on fitting into existing legal systems and regulatory environments. Bitcoin operators must be looking at FinCEN and get very scared at the consequences of new laws and regulatory muscle flexing. This is only the beginning.

Anyway, Ripple Labs isn't interested in explaining to people like you (Bitcoin zealots) how Ripple's technology works, what Ripple Labs are doing and what's coming down the tracks. In fact, they aren't interested in polluting their ecosystem with Bitcoin zealots because they've seen what has happened to the Bitcoin community and don't want to repeat the same mistakes. Go have your own anonymous, decentralized, untraceable fantasy world built on 2008 technology; but nobody is going to participate in this anarchist hippie commune Utopia because guess what? Nobody wants to!

So ask yourself this, how come you're on anarchist-hippie-commune-Utuopia-talk.org rather than forum.ripple.com? I agree that Ripple Labs isn't interested in gaining traction with Bitcoiners, so why are you bothering to argue it out here? Oh, because Bitcoin has 50X the volume, users and interest.

I've got accounts on both, hold a bit of XRP even. What I don't do is bother crapping on Ripple and expounding on the merits of decentralized Bitcoin all over those forums. I'm sure people would find it annoying and I would be wasting my breath.

A bit of XRP.... what like 55 of them? 

[Zer0Sum]

I agree that coinmarketcap.com is weak. I am most interested in the Total Network Value metric on ripplecharts.com, for long term network growth perspective. It reflects not only the value of XRP, but also the total value of assets traded on the network. I am not focused on short term speculation, however, so it may be a less useful metric for others.

I disagree that the breadth of XRP utility limits its potential exchange value. XRP can be used to make payments directly, the same as with any cryptocurrency. Everything else is in addition. If Bitcoin added multi-currency support---requiring the usage of BTC for that functionality---I would consider that a plus in support of BTC's future potential exchange value. In no way does XRP providing that utility guarantee the price will rise, but it does introduce additional future potential justification for a rise in exchange value.

I'm not invested in ripple atm but do agree, I think it only takes a glance at ripple to see they have the formula for success, all the right people on board and all the right palms ready to grease. even if what we have today is a bastardization of fuggers original vision, it's understandable why RL took the approach they have. They're operating at levels litecoin-fork shitcoin creators couldn't dream of and got VC cash to burn through, partnerships on tables, keynotes to deliver. They will be operating like a well oiled machine, marching forward strategically while people here are still stuck on digging out dogcoins with dusty gpu's hoping to get rich

I see ripple/btc a bit like money & antimoney http://phys.org/news/2014-04-econophysics-antimoney-financial-crisis.html Both can be complimentary and Ripple has some obvious direct benefits and some non-obvious benefits to traditional finance system for an average guy that end up trickling down, giving rl themselves a good value proposition. The kind of infrastructure they have built, the kinds of people they can appease with their polish is more favorable as a natural evolution or re-vision of legacy finance system than bitcoin is, although btc-> bank bridge like epiphyte for bitcoin helps a little.  

 I see no reason that the market, especially big players won't drive price this 'anti-spam' token up further than they have already, it's the closest they have to shares in the ripple protocol actually using xrp directly as a 'currency' is a further stretch, Even bitcoin suffers the same pitfalls, switching between a hoarded commodity and currency. Suppose at the end of the day anything can happen- all it takes is a combined belief of many.

Do you have any evidence that Ripple Labs is making money... and not just burning through cash?

With > 100 employees they are burning through at least $20,000,000/year. Maybe more.

Does XRP legally entitled anyone to a "share" of anything?

Can XRP be done away with in a major merger with a bank and replaced by a stock offering for employees?

Ripple started as a kind of "people's money" with "trust circles"...
But it was all complete bullshit as a way of co-opting the Bitcoin ecosystem to bootstrap a banking network.

The Ripple executives are completely ruthless and untrustworthy...
They don't give a shit about small users or small investors except to use them for liquidity and PR.

That's why I will trade almost anything... but would never touch XRP.

[God27]

I agree that coinmarketcap.com is weak. I am most interested in the Total Network Value metric on ripplecharts.com, for long term network growth perspective. It reflects not only the value of XRP, but also the total value of assets traded on the network. I am not focused on short term speculation, however, so it may be a less useful metric for others.

I disagree that the breadth of XRP utility limits its potential exchange value. XRP can be used to make payments directly, the same as with any cryptocurrency. Everything else is in addition. If Bitcoin added multi-currency support---requiring the usage of BTC for that functionality---I would consider that a plus in support of BTC's future potential exchange value. In no way does XRP providing that utility guarantee the price will rise, but it does introduce additional future potential justification for a rise in exchange value.

I'm not invested in ripple atm but do agree, I think it only takes a glance at ripple to see they have the formula for success, all the right people on board and all the right palms ready to grease. even if what we have today is a bastardization of fuggers original vision, it's understandable why RL took the approach they have. They're operating at levels litecoin-fork shitcoin creators couldn't dream of and got VC cash to burn through, partnerships on tables, keynotes to deliver. They will be operating like a well oiled machine, marching forward strategically while people here are still stuck on digging out dogcoins with dusty gpu's hoping to get rich

I see ripple/btc a bit like money & antimoney http://phys.org/news/2014-04-econophysics-antimoney-financial-crisis.html Both can be complimentary and Ripple has some obvious direct benefits and some non-obvious benefits to traditional finance system for an average guy that end up trickling down, giving rl themselves a good value proposition. The kind of infrastructure they have built, the kinds of people they can appease with their polish is more favorable as a natural evolution or re-vision of legacy finance system than bitcoin is, although btc-> bank bridge like epiphyte for bitcoin helps a little.  

 I see no reason that the market, especially big players won't drive price this 'anti-spam' token up further than they have already, it's the closest they have to shares in the ripple protocol actually using xrp directly as a 'currency' is a further stretch, Even bitcoin suffers the same pitfalls, switching between a hoarded commodity and currency. Suppose at the end of the day anything can happen- all it takes is a combined belief of many.

Do you have any evidence that Ripple Labs is making money... and not just burning through cash?

With > 100 employees they are burning through at least $20,000,000/year. Maybe more.

Does XRP legally entitled anyone to a "share" of anything?

Can XRP be done away with in a major merger with a bank and replaced by a stock offering for employees?

Ripple started as a kind of "people's money" with "trust circles"...
But it was all complete bullshit as a way of co-opting the Bitcoin ecosystem to bootstrap a banking network.

The Ripple executives are completely ruthless and untrustworthy...
They don't give a shit about small users or small investors except to use them for liquidity and PR.

That's why I will trade almost anything... but would never touch XRP.

"Ruthless" seems to be one of the main traits for the people on the billionaires list. Sometimes you make money riding on the back of the ruthless and sometimes you lose it all. 



I would just hate to be the person at work a year from now doing the daily grind overhearing a little prick's conversation saying "Dude, I'm telling you, buy this thing called XRP at 3 dollars a piece and you will retire in 10 years."  All while you could of bought it at $.008 

[Eamorr]

I agree that coinmarketcap.com is weak. I am most interested in the Total Network Value metric on ripplecharts.com, for long term network growth perspective. It reflects not only the value of XRP, but also the total value of assets traded on the network. I am not focused on short term speculation, however, so it may be a less useful metric for others.

I disagree that the breadth of XRP utility limits its potential exchange value. XRP can be used to make payments directly, the same as with any cryptocurrency. Everything else is in addition. If Bitcoin added multi-currency support---requiring the usage of BTC for that functionality---I would consider that a plus in support of BTC's future potential exchange value. In no way does XRP providing that utility guarantee the price will rise, but it does introduce additional future potential justification for a rise in exchange value.

I'm not invested in ripple atm but do agree, I think it only takes a glance at ripple to see they have the formula for success, all the right people on board and all the right palms ready to grease. even if what we have today is a bastardization of fuggers original vision, it's understandable why RL took the approach they have. They're operating at levels litecoin-fork shitcoin creators couldn't dream of and got VC cash to burn through, partnerships on tables, keynotes to deliver. They will be operating like a well oiled machine, marching forward strategically while people here are still stuck on digging out dogcoins with dusty gpu's hoping to get rich

I see ripple/btc a bit like money & antimoney http://phys.org/news/2014-04-econophysics-antimoney-financial-crisis.html Both can be complimentary and Ripple has some obvious direct benefits and some non-obvious benefits to traditional finance system for an average guy that end up trickling down, giving rl themselves a good value proposition. The kind of infrastructure they have built, the kinds of people they can appease with their polish is more favorable as a natural evolution or re-vision of legacy finance system than bitcoin is, although btc-> bank bridge like epiphyte for bitcoin helps a little.  

 I see no reason that the market, especially big players won't drive price this 'anti-spam' token up further than they have already, it's the closest they have to shares in the ripple protocol actually using xrp directly as a 'currency' is a further stretch, Even bitcoin suffers the same pitfalls, switching between a hoarded commodity and currency. Suppose at the end of the day anything can happen- all it takes is a combined belief of many.

Do you have any evidence that Ripple Labs is making money... and not just burning through cash?

With > 100 employees they are burning through at least $20,000,000/year. Maybe more.

Does XRP legally entitled anyone to a "share" of anything?

Can XRP be done away with in a major merger with a bank and replaced by a stock offering for employees?

Ripple started as a kind of "people's money" with "trust circles"...
But it was all complete bullshit as a way of co-opting the Bitcoin ecosystem to bootstrap a banking network.

The Ripple executives are completely ruthless and untrustworthy...
They don't give a shit about small users or small investors except to use them for liquidity and PR.

That's why I will trade almost anything... but would never touch XRP.

Bitcoin does not have a monopoly on the cryptocurrency ecosystem (this idea is not uncommon in the Bitcoin community).

And if you "would never touch XRP", then don't. Nobody's forcing you (though watch out that your BTC transaction isn't executed on Ripple's rails... Lol.)

Bitcoin is 2008 technology that is not compatible with the real world. Bitcoin could have moulded itself to meet the needs of the real world. But no - Bitcoiners are a beligerent bunch who think things *should* work the other way round - that the "real world" should mould itself to Bitcoin ideology and Bitcoin philosophy (which has a very strong mix of extreme libertarianism alongside anarchists and hippie commune types - quite a motley lot).

And besides, I'm no more a "man of the people" than you are or anyone else is.

And yes, Ripple probably are burning through a ginormous amount of cash. They probably are selling XRP back to ordinary holders to fund their large and growing team of professionals (largely high quality, non-technical people - though their technical people are top-tier too).

They're out there globe trotting, doing what they do best and by all accounts, the reception they are getting from big businesses, governments and big banks is warm, positive and enthusiastic.

Which is a lot more than can be said for Bitcoin - a self-destructive community in denial.

[Eamorr]

After FINCEN fined Ripple Labs and is telling them what to do with Ripple...  Ripple as a protocol is gone.  It is Paypal 2.0.  Sell.

Ridiculous comparison.

Ripple are compliant and are focused 100% on fitting into existing legal systems and regulatory environments. Bitcoin operators must be looking at FinCEN and get very scared at the consequences of new laws and regulatory muscle flexing. This is only the beginning.

Anyway, Ripple Labs isn't interested in explaining to people like you (Bitcoin zealots) how Ripple's technology works, what Ripple Labs are doing and what's coming down the tracks. In fact, they aren't interested in polluting their ecosystem with Bitcoin zealots because they've seen what has happened to the Bitcoin community and don't want to repeat the same mistakes. Go have your own anonymous, decentralized, untraceable fantasy world built on 2008 technology; but nobody is going to participate in this anarchist hippie commune Utopia because guess what? Nobody wants to!

So ask yourself this, how come you're on anarchist-hippie-commune-Utuopia-talk.org rather than forum.ripple.com? I agree that Ripple Labs isn't interested in gaining traction with Bitcoiners, so why are you bothering to argue it out here? Oh, because Bitcoin has 50X the volume, users and interest.

For every 1,000 small fry Bitcoin users whose assets and influence tends to zero, there is at least one (and growing nice and steadily) person in the finance business who is looking at Ripple with increasing interest. There was a time where nobody heard of "Ripple". Now it's "oh yeah, one of our tech guys said something about that" to "yes, we have a small investigatory project underway that I can't say too much about". Soon it will be "yeah, we will be releasing a Ripple-based product soon".

[Eamorr]

For every 1,000 small fry Bitcoin users whose assets and influence tends to zero, there is at least one (and growing nice and steadily) person in the finance business who is looking at Ripple with increasing interest. There was a time where nobody heard of "Ripple". Now it's "oh yeah, one of our tech guys said something about that" to "yes, we have a small investigatory project underway that I can't say too much about". Soon it will be "yeah, we will be releasing a Ripple-based product soon".

Just to add to this (it's been over a month since I posted), it's now clear that finance houses and banks are not so secretive about what they're up to. They're increasingly open about the fact that they're piloting Ripple.

In the last 2 or 3 days, RBS and Santander have revealed that they're working with Ripple.

[ðºÞæ]

For every 1,000 small fry Bitcoin users whose assets and influence tends to zero, there is at least one (and growing nice and steadily) person in the finance business who is looking at Ripple with increasing interest. There was a time where nobody heard of "Ripple". Now it's "oh yeah, one of our tech guys said something about that" to "yes, we have a small investigatory project underway that I can't say too much about". Soon it will be "yeah, we will be releasing a Ripple-based product soon".

Just to add to this (it's been over a month since I posted), it's now clear that finance houses and banks are not so secretive about what they're up to. They're increasingly open about the fact that they're piloting Ripple.

In the last 2 or 3 days, RBS and Santander have revealed that they're working with Ripple.

Exactly they work with Ripple, the company. They will never touch xrp's other than sell the free gifted once.
The deal is always the same the banks where given x millions of xrp for free with the contract stating that the are not allowed to sell for x amount of time.
The banks have no use for xrp, heck Ripple themselves have no use for them 99% of the time and will abandon it once all are given away or sold. 

[monsterer]

The banks have no use for xrp, heck Ripple themselves have no use for them 99% of the time and will abandon it once all are given away or sold. 

Why do you think bitcoin has transaction fees? Ripple has them for the same reason.

[Sukrim]

The deal is always the same the banks where given x millions of xrp for free with the contract stating that the are not allowed to sell for x amount of time.

Got a source for this?

[Eamorr]

For every 1,000 small fry Bitcoin users whose assets and influence tends to zero, there is at least one (and growing nice and steadily) person in the finance business who is looking at Ripple with increasing interest. There was a time where nobody heard of "Ripple". Now it's "oh yeah, one of our tech guys said something about that" to "yes, we have a small investigatory project underway that I can't say too much about". Soon it will be "yeah, we will be releasing a Ripple-based product soon".

Just to add to this (it's been over a month since I posted), it's now clear that finance houses and banks are not so secretive about what they're up to. They're increasingly open about the fact that they're piloting Ripple.

In the last 2 or 3 days, RBS and Santander have revealed that they're working with Ripple.

Exactly they work with Ripple, the company. They will never touch xrp's other than sell the free gifted once.
The deal is always the same the banks where given x millions of xrp for free with the contract stating that the are not allowed to sell for x amount of time.
The banks have no use for xrp, heck Ripple themselves have no use for them 99% of the time and will abandon it once all are given away or sold.  

The reserve will be distributed to the biggest fish and the fastest fish. Of course there will be T&Cs - they're hardly going to just give the reserve away for nothing?

[Hollingsworth]

I think Eamor's points are well taken about what Ripple is all about. It is on a whole other level of fintech then Bitcoin, it has massive venture capital to support it, with employees who are financial major players, going after the wealthiest institutions like top tier banks and remittance companies.

Why anyone in the crypto world does not recognize the huge upside of a minimal investment in Ripples xrp (100k ) is beyond my comprehension.

[TaunSew]

I think Eamor's points are well taken about what Ripple is all about. It is on a whole other level of fintech then Bitcoin, it has massive venture capital to support it, with employees who are financial major players, going after the wealthiest institutions like top tier banks and remittance companies.

Why anyone in the crypto world does not recognize the huge upside of a minimal investment in Ripples xrp (100k ) is beyond my comprehension.

Going after top tier banks and remittance companies implies Bitcoin isn't doing the same, which is 100% false.   When banks and remittance companies investigate blockchain technology they first and foremost will always look at Bitcoin.  Ripple simply doesn't register.

[markm]

Folks here were given 50k ripples way back when, so maybe feel that suffices as their minimum gamble on ripple, especially with prices higher now than they've been in some time.

Does anyone here though know about ripple private keys? Their IRC channel folk seem to be totally ignorant. A long time ago it apparently used to be that you had to run a ripple daemon of your own if you wanted your private keys to actually stay private. Is that stil the case or do clients now do all their own encryption so the ripple daemons they connect to never see private keys?

It seems ominous that there does not seem to be info anywhere about your private keys and why not to give them to third parties and stuff like that. Does the rippletrade website get your keys? It says nothing about your browser doing all the encryption nor, if it does, how to ensure the javascript it does it with has not been corrupted etc...

Is there even going to be privacy/security, or are they moving to a model where authorities hold your keys so they can reverse your transactions or whatever they want with your money?

-MarkM-

[Sukrim]

Which IRC channel are you talking about? Anyways, yes, you can of course still run rippled (https://github.com/ripple/rippled) to directly connect to the P2P backend, you can also locally deploy the client that also powers rippletrade.com (https://github.com/ripple/ripple-client) if you don't want to get the JavaScript served from Ripple Labs' servers or you can use ripple-lib to write your own client (or interface directly with rippled or a different API endpoint like RippleREST).

The security model of rippletrade.com is similar to blockchain.info: Your private key gets encrypted locally with a username + password and stored (encrypted) at a third party server (aka. "blobvault"). Source code for all components is available under a free license, in case you are wondering.

You have to trust rippletrade.com to serve you the correct JavaScript (it is ensured that you are actually talking to them via TLS), otherwise you can also host the code locally of course or write your own client.

The crypto is very similar to Bitcoin (same ECDSA curve, but seems like "soon" DJB's ed25519 curve will also be supported for signatures/keys, same base58 encoding primitives for addresses and other user-exposed binary data), so it shouldn't be too hard for you to verify what happens behind the scenes.

Authorities are not holding your keys and (unless you have a very simple user<-->password combo) also can't access them if they get a hold of the blobvault. Even if you own a private key of a third party, you can not reverse transactions (just like in Bitcoin), you can only transfer or trade what you already own, not what you have owned at a certain point in time.

Privacy is a different matter, since Ripple operates on balances, not references to previous transaction outputs it is relatively hard to "launder" money there compared to e.g. CoinJoin. This might chnage in the future, since the next larger feature is going to be Multisign afaik. which would allow several accounts to bundle their payments and thus obscuring individual money flows. In general it is possible to buy XRP anonymously and keep your account off the radar, once you really want to use Ripple itself though and not just play around with XRP, you might have a similarly hard time as with using Bitcoin really anonymous.

[trickytricky]

wat the go with the ripple site it so laggy and now i cant log in

[Eamorr]

wat the go with the ripple site it so laggy and now i cant log in

I presume you mean rippletrade.com? It's undergoing a huge under-the-hood upgrade.

The Ripple network works perfectly - there was never an issue with it.

I don't think Ripple Labs want to be in the business of running a trading website with an exquisite front-end. They built rippletrade.com and offer it free of charge as an example of what can be done. Others (such as gatehub) are innovating and building even better trading platforms for the Ripple network.

[S3cco]

Will Ripple hit $350,000,000 in market cap in first half of 2016? Yes or no? Dare to bet in bitcoin?
https://www.betmoose.com/bet/gamecredits-to-hit-1m-market-cap-before-jul-1-2016-1393?ref=scacco

[electronicash]

I'm jsut starting to get into coin trading. which is the preferred exchange of ripple?