Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33458. (Read 26496493 times)

Look at the market depth in the Ripple trade system.

It's a joke.

Total ask sum (BTC/XRP Bitstamp) is less than BTC600 BTC

In EUR there's no market yet.

In USD, almost nothing... With $200,000 you can buy all the bids till 1 XRP = $1, and that's only because a joker has placed a bid of aprox. $150,000 at $1/XRP

So, spend $200,000 and the XRP price will skyrocket from 50 XRP per dollar to 1/1. And there you have your $100,000,000,000 market cap

Just a fucking joke, pump and dump games, pigs getting slaughtered, etc. etc. etc.

You only need to trust them if you hold XRP. Who cares if the XRP market crashes when you're using Ripple as a distributed cryptocurrency exchange?

I'm not claiming to have full technical knowledge of Ripple (but neither do I have that level of knowledge of Bitcoin), but I do know enough about it to believe that the arguments in defense of it all seemed to ignore one basic problem many bitcoin followers have: it's centralized, and there is no indication that this will ever change.

Rampion's post is an excellent summary of why I don't trust, and don't feel like supporting Ripple (I agree with everything except the last paragraph about the founders "cashing out". They will never do such a thing, as it would instaneously destroy their wealth in the process).

If you feel that anyone who's critical of Ripple is just (consciously or not) trying to defend his own get-rich stake in Bitcoin, then I guess I can't really argue any further.

TradeFortress's Ripple scam is the "I'll give XYZ if you give me your private key" of the Ripple world. He's shamelessly duping people who don't understand Ripple. That's not a flaw in the underlying protocol, but it is a "social flaw" surrounding Ripple.

I seriously don't understand why people are paying so much for XRP, though. It's a system with a lot of promise and some flaws (including social flaws), but the market cap for XRP is *insane*. It's a totally unproven system. We don't even know if its fundamental innovation (the consensus system) really works in the real world.

Napster was centralized by the way. That's how it got shut down. If anything, put the equal sign between bitcoin and bittorrent if you want an analogy.

This is a true statement.  Pure speculation is driving XRP prices.  There is no justification for it other than greed.

Another report of no change:  Low volume & diverse bid prices across the exchanges.

 

Anybody know if there's a corresponding (or any significant) increase in off-exchange trades such as on OTC/ LocalBitcoins etc.?

I really did the last days.

I also spent REAL money (10BTC) to buy some K's of XRPs, just to test their bult-in trade system.

And I'm convinced it's a fucked up system.

Not because is not useful (it is useful)

Bad because it is:

a) everything Bitcoin was designed to address (trust-based system, WTF man? Bitcoin very first purpose is to address the need of trust in money transmitting)
b) a premined scam

And no, Adam, NO: it won't do any good to Bitcoin. Users of Ripple may realize that the fiat currencies their are exchanging are just valueless IOU0's, a debt ticking-bomb about to explode, so they may prefer the crypto, as we prefer BTC to USD - but the crypto they will prefer is XRP, 100% premined by a private company.

Trust the blockchain, trust your private keys, trust bitcoin. Not a private coin on a system based on trusting third-parties (firstly and foremost OpenCoin; then, your Gateways).

And think about this: OpenCoin will hold to 50% of the total Ripples created. You need to grant them a LOT of trust to place money in XRPs. They can crash the market with a fart, and they may be very well decide to hold onto 80% on the XRPs. Or to 90%. They won't tell you, because they don't know, they will just do what it suits best to them.

Now compare that shit with BTC, my friend.

I said this before, I sold my gifted XRP for a little over 1 BTC and felt great about it because that was way over what they're worth. I cannot believe they are worth >8 times that now.

Mr. Market is a cray fellow

lol

but as i understand it XRP should have very little value, i think people are confused and bidding it up without thinking....

I have 310 XRP's, so know what you're talking about before you challenge my motives.


Yawn.  That's your view of Bitcoin.  I simply see it as a virtual currency.  Nothing more.  You can keep the ideology to yourself.  I don't care.


Again more lies.  You can not create currency out of thin air.  You can create IOU's (I owe you) and get people to trust you to honor your IOU's but that is not creating currency.  That is building trust.   Personally, I wouldn't trust anyone but a gateway.  


Here's the real butt hurt tale of the story.  Ripple renders your expensive mining rigs useless.  Awwww....poor baby.  Put it up on ebay and get your money back.


I understand Bitcoin just fine, I just reject your ideology.  And since no one group can determine what Bitcoin is or will be, you're say is as valid as mine.  No more so that the new guy who buys Bitcoins today.  I think it's you that dosen't understand....we, the masses do NOT CARE ABOUT YOUR SILLY REVOLUTION.  We don't care.  That's at least the 3rd time I've had to tell you that.

Your prehistoric and primate thinking is exactly what left the door open for a Ripple to change the game.  I'm glad and I'll use my favorite analogy:

Bitcoin = Napster
Ripple = iTunes

+1 & Well Said.

i think we all should do some home work

from what i've read ripple can become a powerful tool. and bitcoin would be better off if every bitcoiner knew exactly what it is all about and how to use it.

 

I'm quite sure you are into Bitcoin only because you are into get-rich-quick schemes, and that's why I'm sure you are also holding Ripples.

But you do not understand Bitcoin is a revolution - a movement. It is about being debt-free, about saying fuck off to fractional reserve. Is about holding a real asset and not debt-backed valueless paper.

Ripple is just taking the old banking system (which is just accounting and debt transfers) to a distributed level, while introduces its very own premined currency.

From one side, in Ripple you have "the old banking system" in his distributed version: which is a debt-based scam that allows anybody to create money from thin air, while the weakest links are left holding the bag. Nothing new under the sun.

From the other side, you have the "cryptocurrency" inside Ripple, the XRP: which is just a premined scam, where ALL the coins have been created by a private entity for its own profit. OpenCoin will distribute their crypto as they wish, hoping that it will increase in value because everything else in Ripple is just "paper scams".

It's the third time I tell you, Coinseeker: you do not understand Bitcoin. You do not understand its deep revolutionary implications. Bitcoin is meant to set you free, while Ripple is meant for their creators to be rich.

Bitcoin solves a huge problem in money transfer: TRUST. You only need to trust maths in Bitcoin. With Ripple, is the opposite - you have to blindly trust a lot of things.

Tradeforest is a fraud who in all his insecurities is completely afraid of Ripple.  He knows the flaws of Bitcoin, as do many of you, and it frightens him and many of you, that Ripple has aimed to fix them.  

Also, if you're going to explain Ripple, at least do it with integrity.  Ripple is still in beta and will be decentralized upon release of the server source code.  Sure, they render your mining efforts useless and for good reason but to flat out lie about Ripple either shows you don't know what you're talking about or you too are afraid of Ripple because of the deep seeded insecurities, that lie with the flaws of Bitcoin. That which the Bitcoin community refuses to address.  

As they say, you snooze you loose and never is this more true than in the world of technology.  Lastly, Ripple is not a competitor of Bitcoin and that is the truth.  It's a delusion that some have created in their own minds, again from their own insecurites.  Ripple is a compliment to Bitcoin and will allow Bitcoin to achieve the mass adoption that would take decades under current tactics.  (You know, begging merchants.)

EDIT:  And it was Tradeforest that manipulated and robbed that poor kid for 10.5 BTC.  Ripple only does what you tell it to do and Tradeforest used his Hero status to gain the trust of noobs.  The flaw is not with Ripple, the flaw is with the scammer known as TradeFortress.  (Yeah, I'll spell it right this time.)

Because people love get-rich-quick schemes, and they do not realize that it's stupid to play a game where a single entity controls all the cards (the Ripples, controlled by OpenCoin). The game is rigged, it's simply the opposite of Bitcoin.

Everybody buying Ripples think they will be so smart that they will be the first in, the first out - so they will profit from the pump before the dump.

But I really do not understand how Bitcoin supporters can also support Ripple. Ripple is everything Bitcoin fights: centralized, based on debt, allows anybody to run spiral-of-debt scams, fractional reserve games... Heck, in fact what Ripple does is bringing to the average Joe the possibility to run their own debt-based scam, in the same form as traditional banks do.

Check what's happening in this thread: https://bitcointalksearch.org/topic/1-free-ripple-btc-giveaway-ended-see-op-over-455-btc-gaveaway-206948

TradeFortress, in a genius move, is exposing what I'm explaining: he is creating money out of thin air (455 BTC up to now), money he is giving away, but that he could have actually used to buy goods. Yeah, the fools are the ones granting to him the trust for him to act as a Gateway, but this will happen over and over: in Ripple you can work on your trust, have people trusting you X amount, and you can create debt out of that shit, then default and disappear - as banks do, but with Ripple you can do it in a "distributed" way. What a JOKE.

Check it out, the first fool lost 10.5 REAL blockchain BTC and now he is left holding IOU's - good luck with that, we can see that he is in fact he first Ripple user to be "left holding the bag".

My opinion:

fuck get-rich-quick schemes, fuck premined scams
fuck "paper" money, fuck IOU's, fuck debt: we want REAL money in its digital form, and this is why Bitcoin was created

EDIT: 1 Bitcoin is 1 Bitcoin - it has to be in the blockchain. Bitcoin in Ripple is not Bitcoin, is just debt. I wonder what Satoshi would say about this.

Why would you be comfortable leaving 3035BTC @ $333, right now? And same question for the next 10KBTC up to $1000000? Discuss