Topic: Opinion: Why Ripple/XRP Doubled In Value in Less Than A Week - page 2. (Read 10166 times)

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.

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

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...

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".

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.

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

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.

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.

Does this mean you are unable to produce the link?

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

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/

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.

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

I think the great dump is started

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



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.

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.

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?

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.

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.

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.

Ripple is the prostitute of the blockchain?