Proof that Ripple numbers are manipulated by Coinmarketcap, there is no boom! - page 4.

ParabellumLite

sr. member

Activity: 560

Merit: 250

Quote from: Mattius459 on November 27, 2014, 03:33:26 PM

Hello all. So I put a considerable amount of money into ripple yesterday because I got caught up in the hype. After reading some of these posts that say that it all may be a scam, I wish to get them back to BTC. I have sold my ripple but they are still 'stuck' as BTC in ripple's snapswap. I realize that I'm an idiot, but is there a way that I can get my coins back to my BTC wallet?

Oh god, we have a panic seller here. What were you thinking if your timeframe is like 1 day?

Mattius459

newbie

Activity: 17

Merit: 0

Hello all. So I put a considerable amount of money into ripple yesterday because I got caught up in the hype. After reading some of these posts that say that it all may be a scam, I wish to get them back to BTC. I have sold my ripple but they are still 'stuck' as BTC in ripple's snapswap. I realize that I'm an idiot, but is there a way that I can get my coins back to my BTC wallet?

Sukrim

legendary

Activity: 2618

Merit: 1006

Quote from: TaunSew on November 25, 2014, 10:19:06 AM

https://archive.org/web/

Source is from the way back machine.

What Ripple did was get Gliss (possible allegation of bribes?) to manipulate the number of available Ripple coins, even though well over 90%+ of Ripple has always been held by the developers.

Since they control so much of Ripple (90%+ in actuality) they can pump and dump all day and manipulate the price too.

As you tend to delete your posts, here's the answer to another, similar post by you that I wrote yesterday:

Quote from: Sukrim on November 25, 2014, 10:28:40 AM

Quote from: ?? on ??

Ripple capitalization is just heavily manipulated because they have Gliss on coinmarketcap fiddling with the numbers to make it look bigger than it really is. Remember when Gliss used to accurately report the number of available Ripple Coins? What made him changed his mind? Did he receive a Ferrari as a birthday gift? Possibly..

https://web.archive.org/web/20140611024200/http://coinmarketcap.com/
(8 billion Ripple coins back then compared to 30 billion Ripple coins now)

2 months before that:
http://web.archive.org/web/20140405192501/http://coinmarketcap.com/
~100 billion XRP (just like now, see http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/), compared to ~30 billion XRP not at RippleLabs.

Because of that ("OMG Ripple = evil, so many coins + premine!") Gliss implemented a check for distribution values which scrapes web sites. Ripple Labs first put on their page (https://www.ripplelabs.com/xrp-distribution/) that they owned 80 billion XRP and handed out ~8 billion of these (June: http://web.archive.org/web/20140625224750/https://www.ripplelabs.com/xrp-distribution/), this is what Gliss put on his page. Some time later RippleLabs put on their page that they owned 80 billion XRP of all 100 billion XRP, handed out ~9 billion and don't own ~29 billion of all the XRP (October: http://web.archive.org/web/20141007095332/https://www.ripplelabs.com/xrp-distribution/) - hence the spike in "market cap of coins in circulation".

The jumps in distribution (e.g. on November 23rd.) come because Ripple Labs does not update their page live but only from time to time. There are and will be for the forseeable future ~100 billion XRP out there. What is displayed on coinmarketcap is just Gliss' interpretation of the truth, if you disagree - feel free to open your own page that does it differently (actually that's how http://cryptmarketcap.com/ was initially founded).

brekyrself

hero member

Activity: 547

Merit: 502

Quote from: EvilDave on November 25, 2014, 03:44:48 PM

Talking of Bitshares....anyone notice how someone found an extra 500 million BTSX recently?

They had a well documented merger of Protoshares PTS, AGS, and Bitshares, hence the increase in supply.

See:

http://bitshares.org/bitshares-reloaded/

TheMage

hero member

Activity: 812

Merit: 1000

Litecoin Association Director

Quote from: balu2 on November 25, 2014, 11:22:21 PM

Quote from: griffinriz on November 25, 2014, 10:20:30 AM

Increase available Supply and get 2nd Place on coinmarketcap.

it does not even make sense.

There is now more ripple (where did they suddenly come from?) and that's why it has higher marketcap? Excuse me?

Because the tokens they they released were given away, instead of being traded on a traditional exchange. Coinmarketcap includes those in circulation, meaning if a block of tokens were released coinmarketcap includes them in its calculations.

And because they were not traded on a traditional exchange, this means that price is not affected as any other coin would be. And since the marketcap looks huge, this is making people think its worth more than it should be an buying ripple tokens.

The last two times they made very large distributions were on 8/26/2014 and 11/23/2014 (two days ago as of this post). You can see the market manipulation here.

balu2

hero member

Activity: 742

Merit: 500

Quote from: griffinriz on November 25, 2014, 10:20:30 AM

Increase available Supply and get 2nd Place on coinmarketcap.

it does not even make sense.

There is now more ripple (where did they suddenly come from?) and that's why it has higher marketcap? Excuse me?

benthach

legendary

Activity: 1764

Merit: 1000

Quote from: TaunSew on November 25, 2014, 10:19:06 AM

https://archive.org/web/

Source is from the way back machine.

What Ripple did was get Gliss (possible allegation of bribes?) to manipulate the number of available Ripple coins, even though well over 90%+ of Ripple has always been held by the developers.

Since they control so much of Ripple (90%+ in actuality) they can pump and dump all day and manipulate the price too.

ripple = 100% premined = scam

EvilDave

hero member

Activity: 854

Merit: 1001

Not really sure that Gliss is co-operating with the Ripple crew.......I've hassled some Rippleheads about this and they claim that the sudden appearance of masses of new XRP on the market is totally legit and has something to do with locked-up XRP being released for projects.
I think.......I was LOLing a lot at the time. They also claimed that Ripples habit of suddenly increasing the market cap has absolutely nothing to do with, for example, the chance that BitsharesX would take the #2 spot.

Talking of Bitshares....anyone notice how someone found an extra 500 million BTSX recently?

Snail2

legendary

Activity: 1512

Merit: 1000

Quote from: John999 on November 25, 2014, 11:28:33 AM

Also their market seems to be under total control due to the initial distribution. They can cap the price or pump it at will.

The initial distribution got a bit more balanced (roughly 50% users 50% owners) however that still means a lot of control.

John999

newbie

Activity: 2

Merit: 1018

Also their market seems to be under total control due to the initial distribution. They can cap the price or pump it at will.

muddafudda

legendary

Activity: 1008

Merit: 1022

The funny thing is the public perception is people care about Ripple when really no one gives a shit.

griffinriz

sr. member

Activity: 476

Merit: 250

Increase available Supply and get 2nd Place on coinmarketcap.

TaunSew

hero member

Activity: 756

Merit: 506

https://archive.org/web/

Source is from the way back machine.

What Ripple did was get Gliss (possible allegation of bribes?) to manipulate the number of available Ripple coins, even though well over 90%+ of Ripple has always been held by the developers.

Since they control so much of Ripple (90%+ in actuality) they can pump and dump all day and manipulate the price too.

Topic: Proof that Ripple numbers are manipulated by Coinmarketcap, there is no boom! - page 4. (Read 11357 times)