Topic: Proof that Ripple numbers are manipulated by Coinmarketcap, there is no boom! - page 3. (Read 11357 times)

Who gives a shit about Ripple anyway? I certainly don't

https://bitcointalksearch.org/topic/m.9659498

Quoting coinmarketcap as your primary source is like writing your PhD based on a Wikipedia article...

"The community" loved MtGox, loved GPUMax + BTCS&T, loved ButterflyLabs... as well as some actually cool companies that do great things. Being hated by the bitcointalk community is not exactly a show stopper or indication for any kind of trustworthyness, just as being loved by it is neither.

Exactly this!
Basically all coins have massive whales that can manipulate. Though generally they also take a risk when doing that. But with 80%+ in the hands of the creators, that risk is totally oversized in Ripple.
There is a reason that insider-trading is forbidden. In crypto that is not enforced - but that means that users have to beware of the risk and avoid it.

What companies does this "community" like? My experience is anytime a business tries to get into crypto they automatically get viewed with distrust and suspicion. But yea, fuck capitalism and all that, we can just trade our Bitcoins for magic beans and Guy Fawkes masks.

Second time ive seen you say this, and as a director on the ripple board I call BS. You know full well why the price is going up, it has to do with the fact that you airdropped coins enough to weasel into the second place on coinmarketcap. Who did those coins go to?



I'm flatly going to say it for those ripple lovers. No one is hating ripple as a coin, the hate is coming from the fact that ripple is NOT just a coin, its a company. The community hates your company. Its the same as GAW (I think it was GAW) posting that they will be creating a coin. Guess how well thats going to go over? My crystal ball says not very well.


I'll post a more detailed thread tomorrow.

Your response makes sense, but is obviously exceptionally conservative as well

Several reasons. One is that Ripple Labs has different legal obligations to its investors than it does to people who hold XRP. Another is that there's no guarantee Ripple Labs' business model will stay the same over time. Lastly, there's always a chance that the Ripple network will succeed as a payment system without the price of XRP appreciating significantly. For example, if the Federal Reserve issues dollars on the Ripple network with no transfer fee, that could become preferred over XRP.

Also, I don't think anyone really understands what's moving the price of XRP. So the risk and expected rewards are essentially uncomputable.

OK, so why shouldn't we invest in XRP if that's your whole premise? If we like the direction that Ripp!e has been heading in (I've personally been following since December) and we believe in the company/team/strategy, then why would you recommend against investment if the price of XRP is your whole model?

Yes.

I guess I can't refute a conspiracy theory, and maybe I am naive, but I genuinely don't think this is true. I'm not sure which variation of this you believe (for example, that there's insider information about Ripple Labs that affects the rational expected future value of XRP or that it's all manipulation and there's no real news), but the version I believe is essentially that the vast majority of the time, the market moves primarily on momentum. That is, when the price is rising, people buy just because they figure they can sell when it gets higher, which continues to push the price up. And when the price is dropping, even people who like to hold XRP may sell figuring they can buy back when it's lower.

I guess you can disagree with me, and if you do, I'm genuinely interested in hearing your reasoning because I am fully aware of the possibility that I might be wrong.

That's probably true. XRP is basically feeless except for a tiny transaction fee. So I agree that total volume is meaningless. One useful metric is to look at volume only where there are fees, for example XRP to/from Bitstamp BTC. You can use that volume as a proxy for total volume. Manipulation will appear mostly in feeless market.

I absolutely agree that XRP is not a sensible investment and that prices can drop drastically in short periods of time for no apparent reasons. Also, there are constant regulatory, technical, and business risks that could make XRP worthless overnight.

I'm a member of the Board of Directors of Ripple Labs, I don't have to assume much of anything. The partnerships we're working on are secret. Generally, we would prefer to release that information and announce them as soon as we can. You're certainly entitled to be skeptical of our intentions. If you happen to be in San Francisco some time, let me know and I'll show you who we are and what we're doing, and maybe that will ease some of your skepticism.

Assuming you are not a straight up crook (which is hard to do circa late-2014), do you realize how naive you are?

(1)  The XRP market is totally dominated by insider whales. They know exactly what will happen and why.
Even a sophisticated outsider will get constantly blind-sided by insiders.

(2)  The 2 months I traded XRP daily there did not appear to be any fees. Markets where certain
participants pay no fees or minimal fees have inflated and meaningless volume.  

(3)  XRP is trading at << 50% of mid-2013 levels in terms of BTC. It's been a horrific "investment"...
except of course for insider whales.

(4)  Ripple Labs is an extremely secretive and disingenuous company. You can assume everything
is some kind of misdirection. All that hooey about "helping migrant African laborers" is baloney.  
And I don't trust any of the numbers on Ripple Charts. They go back only 3 days for a reason.

Mining difficulty algorithm is boken

I found Ripple through interest in Bitcoin. I evaluated it according to how it differed from all the ways Bitcoin is great. Ripple did not perfectly fit its framework. Understanding Bitcoin is difficult at first. Learning about Ripple was even harder for me. It was easier to passively absorb criticisms about Ripple on this forum, and I fell into that trap for a while. SCAM

After repeat frustrations with centralized exchanges---experiencing firsthand the threat of centralized exchanges---I began to look at alternatives more seriously. NXT had yet to launch, and so Ripple dominated my focus. I gave it a shot, and... I walked away unimpressed. And that cycle repeated itself several times. Each time I grasped the concept a little more deeply. I dug  the idealistic concept underpinning it, and a lot of ideas about the how the system could be used spun up in my head. I kept coming back to mined alts, but developed a side fixation. I unexpectedly found myself defending it, and it has been a slow and steady build since.

/former hater

Hi Joel,

You say that you do not recommend XRP as an investment, but (and correct me if I'm wrong) isn't a big part of Ripple Labs revenue model appreciation of XRP? I thought I read that somewhere...

I don't understand why there's so much hate on ripple

AGREED

i said this a year ago.. look at my comments way back at Gliss etc.
I had to ride them repeatedly to get them to admit shit after a notorious scammy incident that pretty much proved he was in on a scam way back.
and they all denied every bit of it attacked the shit out of my calling me names and insulting me.. calling me a Troll and FUD'er etc etc etc
then guess what happened ?

the usual..

they all later agreed with me and kissed ass LOL

and now you all see an asterisk in that picture.. thanks to ME !
i am the guy who got them to start adding that.
which they would not have done had i not badgered them about it in the first place.

and it's funny what i exposed that shit site of doing is exactly what the OP here suggested.. a year ago with AUR !
severe manipulation.. planned and executed and it worked too.. AUR went up to around $15 a coin
so i bet they are just doing it again  

and yup as usual i have the ability to post proof of every single statement i made if needed
as ALWAYS
Don't make allegations unless you can back them up..

Coinmarketcap the site, is scammy and i refuse to go there ever again as of 1 whole year ago.

PS:
The asterisk = Scam coin as far as i am concerned (i never seen one i thought was legit with an asterisk)

Yes! let people decide.. and if you are to warn of real scams then do some fucking research!!! I am all for warning about scams.. but really, DO SOME RESEARCH!

First of all.. the only "real"(almost real) argument is that RL has premined to much of XRP.. but if you did some background check and compared tha value of their holdings to Satoshi premine in the beginning.. you'd see it's about the same.
Ofcourse we all worry that RippleLabs will do something corrupt with it and screw us all.. But based on their claims, they will. not. So it is left to the individual to deside wether to trust them or not.
Second.. Transaction time is as fast as a click of a refresh button. Third.. this pump that is going on.. is either a pump or something really big happening.. And based on all the read news, I believe there is something big going on. Unfortunatelly Banks can not confirm adoption speculation, because they would rather be the first in front of their competition.

And there is so much more details that are more relevant then these few sentences that I wrote... But in the end.. It's up to the individual soul to decide..

And you fanatics, at least do your research!! Why?? Because if it turn's out not to be true.. Then when real scam comes our way.. no one will believe you anymore.

So what! WTF.. why is that your problem even? If you don't have any XRP then don't bitch about it.. and Ripple is far from just BTC Clone.. do some research gdm.. It's like listening to KKK folowers or fucking nazis

You people are funny I am laughing my socks of

If anything.. Coinmarketcap was dragging down Ripple price.. And anyone who uses cmc for a serious coin analysys is nothing more then a rookie.. at best a rookie.... check snapswap and bitstamp for example.. you'll se real activity.. also check http://www.ripplecharts.com/.. you'll see actual bid/ask rate.

bitcoiners are becoming more and more pathetic.. and I don't get it.. it became a religion for u guys

Thank you for your thoughtful response.

You have three choices:

1) Follow snapswap's withdrawal process. I've never withdrawn BTC from snapswap, but the usual way is that they give you a destination tag, you make a Ripple payment in BTC to their address with that destination tag and they credit your snapswap account. Then you withdraw to a BTC wallet using their web interface.

2) If you don't like snapswap's withdrawal process, exchange your snapswap BTC inside Ripple for another asset that you can more easily withdraw.

3) Make one or more direct payments to Bitcoin addresses from the Ripple client.

I'm probably one of the biggest Ripple supporters that there is, one of the first people to work on it, one of the designers of the protocol, and employed by Ripple Labs. There is no scam. However, the price of XRP is extremely volatile and behaves entirely unpredictably. I do not ever recommend people buy XRP as any kind of investment. There is always a significant possibility that its value can drop drastically, possibly even to zero, in a very short period of time.

I don't think anybody knows why the price of XRP surged over the past few days. It is almost axiomatic that it can drop just as quickly and nobody really know why. Buying on hype is a particularly bad idea. It is basically mathematically impossible for everyone to buy on the rise and sell before a subsequent decline. It is even possible for Ripple to succeed wildly as a payment system and the value of XRP not go up significantly.

Maybe, maybe not. That's up to the gateway. Ripple can't force anyone to give you BTC if they haven't agreed to do so. I believe snapswap BTC can be sent over the outbound bridge at no fee, meaning you should get the exact amount out if you send to a Bitcoin address from the Ripple client.

Okay, but as long as I have them converted as BTC into my wallet at ripple, then I should get that exact amount of BTC at some point, correct?