Topic: Opinion: Why Ripple/XRP Doubled In Value in Less Than A Week - page 6. (Read 10198 times)

Exactly. For all it's failings: Cryptocurrencies started because of a noble idea. To free the people of the deathgrip by the banks.
Ripple is just leeching off the positive movement - while betraying it. Just like BP when they changed their oil corp. logo into a neat green sun.

https://stellartalk.org/topic/6569-what-is-the-real-difference-of-stellar-to-other-currencies/?p=65844

Exactly what specific information in the above links do you consider lies, bullshit, or exaggerations?

Below I have replaced all of the ripple.com links you objected to with CoinDesk articles (and repeated the rest).

Active Banks

• Fidor
• Cross River
• CBW (owners of GlobalRemit)

Interested/Experimenting Banks

• Rabobank
• RBS

Haters gonna hate.

I think your concern is regarding how different sites calculate market capitalization.

At coinmarketcap.com non-mined coins used to have their value calculated against all coins in existence. It led to an outcry, as the vast quantity of XRP in existence pushed Ripple to the top of the list. Coinmarketcap.com then adjusted the default calculation, and now it bases its calculation off just coins in circulation.

Anytime Ripple Labs distributes coins, their market cap increases with a spike. If they do large deals, then large spikes will occur---no way around it (unless an alternate calculation method is used).

You can see distribution stats here.

I read all of what you wrote out, and I think most of it comes down to confusion on the sources of data and the effects of how coinmarketcap.com calculates market cap.


Again, I think your issue is with how coinmarketcap.com is calculating market capitalization (not Ripple Labs).


Data comes from the Ripple network. If you want to verify the data, you can do so by examining the source code and running your own instance.


Ripple Charts only tracks transactions that occur on the Ripple network. BTC38 trades occur outside of the Ripple network.


I would say its utility is its strongest source of value.

Not sure what you are asking about with the airdrops.

If you can't beat 'em, join 'em.

Actually, John, that is the answer on "Why Ripple/XRP Doubled In Value in Less Than A Week". Case closed.

Please tell us more.

I am the very last person to bash on another coin, mainly because I feel it is counter productive to the movement as a whole to empower people with the right to their own money. With that said, its fairly obvious that ripple labs along with their circle jerking friends here are not in this to do anything but line their own pockets with dirty money.


Care to explain the blatant market manipulation done today (11/23/2014) along with the market manipulation done on August 26th 2014?












Ripple did not double its value because they are as sweet as my grandmother, it doubled because A. serious market manipulation and B. utilizing that along with some news to pump their own chest and get people to buy into it. Which reminds me, who got these tokens that ripple distributed? Were they given as "deals" as the OP said? "Hey, here is a million dollars if you team up with us" is what I see (literally, a million).  




Cryptsy is the worse example you could have used. They can't even get their regulations straight since im 99% sure the Oct. FinCen clarification letter was due to their own either stubbornness or ineptitude to follow the rules (meaning, the clarification letter was their fault since they have been trying to skirt the rules).



No, there is a major difference. Those people are buying cryptos from other people, the exchanges are merely their parties there to facilitate the transactions. Ripple labs is selling these or giving them away in deals outside traditional means yet trying to utilize traditional ways to calculate value. Ergo, the market manipulation that I have mentioned several times already.



Since you missed it in the other thread (actually I'm sure it was ignored because you didnt want to address it), care to explain the inconsistencies I pointed out in my other post?





Lastly, what gives ripple value? And please dont say "investors" because that is a failed economics policy. What backs ripple? And also again, who did those 2 air drops of coins go too?


I'm not a troll, I firmly believe ripple and ripple labs are a pure scam. Hence this post.


EDIT: Bottom line, ripple is a company and has no business claiming its a crytpo currency. THIS is why people such as myself yell scam when you try to peddle your merchandise.

I understand your view and it might be a wise investment in the future but I do not like the fact that ripple labs can play god with the market whenever they want, without supervison and without telling anyone.

Fidor will be using Ripple as part of its core banking system, not simply accepting it. I am not aware of anyone claiming Ripple has signed a large bank. At the moment Ripple Labs strategy appears focused on international transfer, which has traditionally been cornered by the big (correspondent) banks. Ripple is making inroads giving smaller more innovative banks an edge in international transfer.


Active Banks

• Fidor
• Cross River
• CBW (owners of GlobalRemit)

Interested/Experimenting Banks

• Rabobank
• RBS

Above are those known by the community.

FUD HARDER!

There are lots of banks considering using Ripple for international transfers.  Many of them are big name-brand banks.  Fidor was the first.  It won't be the last.

What banks like most about Ripple is that it is purpose built for moving their existing fiat balances with instant clearing and settlement.  The five second confirmation time is a big benefit, and the ability for Ripple Labs to optimize the development cycle of this open source software is also a big plus.  There are a lot of things that a private company can do that a loose confederation of volunteers and not-for-profits cannot do.

It is true that the initial distribution of XRP was ill considered and that many challenges exist with regards to the distribution of the remainder.  But banks don't care.  To them Ripple is just another ledger for them to integrate with.  Once that can reduce costs, increase speed and allow them to offer better services to their customers.

Then, with suitable bridges across the different networks, liquidity in one becomes liquidity in all.  Several Ripple gateways are also Stellar gateways.  The first fiat gateway on the Bitcoin blockchain (tether.to) via the Mastercoin protocol has just launched.  Pretty soon we'll see similar entities operating on Counterparty and others.  Gateways have been running successfully on Ripple for over a year offering USD/EUR/JPY/CNY/BRL/BTC/XAU assets, etc.

Ripple has pushed the cryptocurrency envelope within the context of the traditional banking system far father than Bitcoin has done.  For that it should be applauded.

And, if anyone is looking for intelligent discussion on all things crypto, XRPTalk.org is one of the better forums out there.

Peace.

- CW

How come none of the ripple supporters answer the distribution question?? Do you find it fair that ripple labs+creators hold 90% of it??? Why should I buy XRPs when they give it for free to banks???

If you are talking about the Fidor bank - #1 it's not a big bank, #2 it's a web bank #3 there's no secret Axis Pact with Ripple, Fidor is going to be accepting all the major digital currencies and future ones as well. 

Of course Ripple Labs is feeding into this bullshit because they are pumping out articles implying things which simply aren't true (like exclusivity with Fidor when Fidor is also embracing BTC and LTC and will probably take on other digital currencies too).

https://www.cryptocurrency-bank.com/


Every month there's been a flavour of a month since the end of the November boom and it looks like Ripple is having its' first pump in a long time.

i don't see any content in the OP, really.

This is the dumb-smartest pump-thread in a long time.

NACHA published a white paper 11/18: The Future of Corporate Payments

Ripple is covered briefly, beginning at the bottom of page 14 to 15. Awesome to see major players understanding the immediate value of Ripple and disruptive potential of Ripple. 3 banks are already on board, with more experimenting and piloting.

Manu Sporny of the w3c has previously shared some great thoughts on both Ripple and Bitcoin here. He chairs the w3c payments group, where Ripple also receives frequent mention.

I am not surprised XRP is rising

I consider it from the perspective of whether or not it is fair for a company to issue stock.

In some senses, purchasing XRP is like buying stock at an exchange. No difference exists for the majority of cryptocurrency users, who acquire cryptocurrency through exchanges. Absence of mining, however, does make it vital that miners spread FUD about non-mined coins to protect their bottom line. ASICs, graphics cards, and electricity are not cheap. Ripple arguably dominates in functionality.

Investment in XRP supports the growth of the network. A hardworking and rapidly expanding team spends all day, essentially, working to increase the value of my investment. And the team is delivering, hardcore. I have no issue with Ripple Labs holding the majority of XRP. If XRP gains in value, both Ripple Labs and community investors win.

Interesting note: Ripple Labs has found that banks are generally uninterested in holding XRP. Banks care about the raw utility of the network and protocol---not speculative cryptocurrency investment---and Ripple delivers on its own functional merits. It is useful tech. I am uncertain if XRP still being distributed via forgivable loans to market makers and hedge funds.

I would rephrase that slightly, maybe something like this:

XRP is a deflationary currency, like Bitcoin, that serves multiple purposes within the Ripple protocol/network.

XRP is intended to serve as a bridge currency. Instead of requiring a market for every possible currency pairing, all that is needed is a market pairing between XRP and each respective currency.

Example: a user wants to trade currency between 2 gateways. We will call these currencies USD.Gateway1 and BTC.Gateway2. No market exists between them. However, since both have XRP markets, Ripple enables users to exchange between USD.Gateway1 and BTC.Gateway2, seamlessly through XRP, as though there were a direct market. Beautiful for volume and liquidity, especially for smaller coins.

Every Ripple network transaction also carries a small fee, based on server load, which prevents bad actors from attacking the network by sending massive numbers of small transactions. In addition, ledger entries have an associated XRP cost. A minimum reserve requirement must be met for a wallet, and trustlines/orders require XRP (for the duration of the ledger entry), helping to prevent ledger bloat. It serves a security function at that level.

And finally: XRP has zero counterparty risk.

you need a small amount of xrp for each transaction made on the ripple protocol. so the more its used the more xrp will be worth

idiots trading on speculation that it could actually be worth something oneday.

What gives the XRP coin actual value?