Why has Ripple decreased so much in Market cap? Used to be second to Bitcoin - page 5.

jonald_fyookball

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Quote from: ~Coinseeker~ on April 18, 2014, 03:32:46 PM

Quote from: jonald_fyookball on April 18, 2014, 03:26:42 PM

Why do you like ripple?

Lots of reasons. Here's a few:

1. It's currency agnostic
2. It eliminates central clearing houses and centralized exchanges
3. It federates payment networks (SMTP for money)

Overall, I just think Ripple makes sense and allows access to monetary freedom for more people, while still allowing them to use their existing things of value. Remittences for example, is a big reason I like Ripple. I'm also a big merchant guy so, understanding merchants would prefer to make one integration and allow their customers to pay in any currency, while still receiving just USD, is huge. That replaces the need for merchant accounts for credit cards, then a separate integration for each cryptocurrency you want to accept. It's just common sense innovation, IMO.

Thanks for the explanation but at best it sounds like "monetary freedom" inside the prison of debt based fiat currencies... Thanks but no thanks, I'd rather skip it and go directly to bitcoin.

Meuh6879

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all centralized money must and will die.

~Coinseeker~

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Quote from: jonald_fyookball on April 18, 2014, 03:26:42 PM

Why do you like ripple?

Lots of reasons. Here's a few:

1. It's currency agnostic
2. It eliminates central clearing houses and centralized exchanges
3. It federates payment networks (SMTP for money)

Overall, I just think Ripple makes sense and allows access to monetary freedom, for more people, while still allowing them to use their existing things of value. Remittences for example, is a big reason I like Ripple. I'm also a big merchant guy so, understanding merchants would prefer to make one integration and allow their customers to pay in any currency, while still receiving just USD, is huge. That replaces the need for merchant accounts for credit cards, then a separate integration for each cryptocurrency you want to accept. It's just common sense innovation, IMO.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: ~Coinseeker~ on April 18, 2014, 03:25:15 PM

Quote from: Peter R on April 18, 2014, 03:15:03 PM

Quote from: ~Coinseeker~ on April 18, 2014, 03:04:12 PM

No, not at all.

Let me try again:

Quote from: ~Coinseeker~ on April 18, 2014, 02:11:53 PM

XRP is not an IOU….with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them freely…In Ripple, an IOU is not a means by which you can buy something now, and pay later. It's a representation of actual assets you own. When you exchange those IOU's, the asset balance is transferred to the new owner. The IOU simply determines who now owns that balance.

Sounds like it involves IOUs to me.

Ripple does involve IOU's and that's a good thing. XRP, however, is not an IOU. It's an asset that exist within the network and stored without counter-party risk.

Quote from: BittBurger on April 18, 2014, 03:18:37 PM

Quote

Why has Ripple decreased so much in Market cap? Used to be second to Bitcoin

1. Because they aren't doing jack shit.

2. Because they aren't doing jack shit in the way of marketing, publicity, news articles, etc.

-B-

Ripple is doing plenty, Ripple isn't however, a consumer product so, you're not going to get consumer focused marketing.

Why do you like ripple?

~Coinseeker~

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Quote from: Peter R on April 18, 2014, 03:15:03 PM

Sounds like it involves IOUs to me.

Ripple does involve IOU's and that's a good thing. XRP, however, is not an IOU. It's an asset that exist within the network and stored without counter-party risk.

Quote from: BittBurger on April 18, 2014, 03:18:37 PM

Quote

Why has Ripple decreased so much in Market cap? Used to be second to Bitcoin

1. Because they aren't doing jack shit.

2. Because they aren't doing jack shit in the way of marketing, publicity, news articles, etc.

-B-

Ripple is doing plenty, Ripple isn't however, a consumer product so you're not going to get consumer focused marketing.

BittBurger

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Quote

Why has Ripple decreased so much in Market cap? Used to be second to Bitcoin

1. Because they aren't doing jack shit.

2. Because they aren't doing jack shit in the way of marketing, publicity, news articles, etc.

-B-

Peter R

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Quote from: ~Coinseeker~ on April 18, 2014, 03:04:12 PM

No, not at all.

Let me try again:

Quote from: ~Coinseeker~ on April 18, 2014, 02:11:53 PM

XRP is not an IOU….with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them freely…In Ripple, an IOU is not a means by which you can buy something now, and pay later. It's a representation of actual assets you own. When you exchange those IOU's, the asset balance is transferred to the new owner. The IOU simply determines who now owns that balance.

Sounds like it involves IOUs to me.

jonald_fyookball

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Quote from: ~Coinseeker~ on April 18, 2014, 02:11:53 PM

Quote from: kgo on April 18, 2014, 02:09:31 PM

Quote from: twiifm on April 18, 2014, 02:01:37 PM

That's exactly what he's talking and why Ripple is intriguing. Currently to send money across distances you need a clearing house. You are correct that Hawala does this without a clearing house & Ripple is a digital version of Hawala.

The reason why you want this is because people use different local currencies. If my Chinese supplier only accept RMB as payment and if I want to use BTC how can the transfer take place? Either there is a clearing house that takes my BTC and gives him RMB or something like Ripple.

But why use an IOU/promise-to-pay (XRP) when I can use an asset/commodity (BTC)?

XRP is not an IOU. It's a deflationary, math-based currency, just like Bitcoin. It prevents ledger spam and acts as a bridge between two currencies. Say BTC -> XRP -> YEN. And you don't have to necessarily use it, if there's a cheaper path.

An IOU is just a balance that you have with a 3rd party. If you go to your Bitstamp or Cryptsy account, it will display how much BTC, USD, etc you have with them, right? That's your balance and that balance is an IOU. They "owe" you, X amount. It's just an IOU that is trapped in a central entity. (Well, of course Bitstamp is the largest Ripple gateway, so you can have access to your Bitstamp IOU's within Ripple.)

So again, with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them freely into other things of value or even pay someone with them. Which just means, you're transferring that balance, to someone else. In Ripple, an IOU is not a means by which you can buy something now, and pay later. It's a representation of actual assets you own. When you exchange those IOU's, the asset balance is transferred to the new owner. The IOU simply determines who now owns that balance.

Wow. So, not only is ripple rubbish, but it actually may be counterproductive to bitcoin adoption in that it acts as a bandaid to the fiat system.

El Dude

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ripple is not a coin and shouldn't be on that list , the second most valuable coin is Litecoin.

~Coinseeker~

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Quote from: Peter R on April 18, 2014, 03:01:49 PM

Quote from: ~Coinseeker~ on April 18, 2014, 02:11:53 PM

XRP is not an IOU….with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them [your IOUs] freely…In Ripple, an IOU is not a means by which you can buy something now, and pay later. It's a representation of actual assets you own. When you exchange those IOU's, the asset balance is transferred to the new owner. The IOU simply determines who now owns that balance.

So you're telling me that it actually is an IOU?

No, not at all. XRP can be stored without counter-party risk and doesn't require trust to send. Thus, no IOU ever need be created for it. It already exists within the Ripple network as an asset. IOU's are representations of balances you hold, with 3rd parties. Exchanges, banks, paypal, etc.

Peter R

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Quote from: ~Coinseeker~ on April 18, 2014, 02:11:53 PM

XRP is not an IOU….with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them [your IOUs] freely…In Ripple, an IOU is not a means by which you can buy something now, and pay later. It's a representation of actual assets you own. When you exchange those IOU's, the asset balance is transferred to the new owner. The IOU simply determines who now owns that balance.

So you're telling me that it actually is an IOU?

~Coinseeker~

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Quote from: acoindr on April 18, 2014, 02:34:22 PM

Quote from: ~Coinseeker~ on April 18, 2014, 02:11:53 PM

XRP is not an IOU. It's a deflationary, math-based currency, just like Bitcoin.

That's a laugh. XRP is NOTHING like Bitcoin. Bitcoin is completely transparent and provable with math. ALL Bitcoin transactions from day 1 are available for viewing and auditing by anyone. That's not true for Ripple.

I understand certain people on this forum want to pump Ripple, but please stop trying to hang on Bitcoin's coattails to do it.

Both can be stored without counter-party risk and both prevent double spending, by design. That is cryptocurrency....period. Distribution methods may differ, but that's irrelevant to me, especially with XRP's intended purpose, and that's not as a speculative commodity. A currency is not defined by it's value but rather by its usefulness. So from that perspective, you're right. XRP is not Bitcoin...and fortunately so. That allows XRP to remain useful in its purposes of spam prevention and bridge currency, and not just a means for a few people, to "get rich quick".

As has been said repeatedly, if you don't like any particular currency, don't use it. Ripple is currency agnostic. Use what you want, other people will use what they want. Freedom baby!

twiifm

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Quote from: acoindr on April 18, 2014, 02:34:22 PM

Quote from: ~Coinseeker~ on April 18, 2014, 02:11:53 PM

XRP is not an IOU. It's a deflationary, math-based currency, just like Bitcoin.

That's a laugh. XRP is NOTHING like Bitcoin. Bitcoin is completely transparent and provable with math. ALL Bitcoin transactions from day 1 are available for viewing and auditing by anyone. That's not true for Ripple.

I understand certain people on this forum want to pump Ripple, but please stop trying to hang on Bitcoin's coattails to do it.

No need to pump XRP because it's not supposed to be a speculative instrument. You just use it to transfer money

acoindr

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Quote from: ~Coinseeker~ on April 18, 2014, 02:11:53 PM

XRP is not an IOU. It's a deflationary, math-based currency, just like Bitcoin.

That's a laugh. XRP is NOTHING like Bitcoin. Bitcoin is completely transparent and provable with math. ALL Bitcoin transactions from day 1 are available for viewing and auditing by anyone. That's not true for Ripple.

I understand certain people on this forum want to pump Ripple, but please stop trying to hang on Bitcoin's coattails to do it.

~Coinseeker~

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Quote from: kgo on April 18, 2014, 02:09:31 PM

Quote from: twiifm on April 18, 2014, 02:01:37 PM

That's exactly what he's talking and why Ripple is intriguing. Currently to send money across distances you need a clearing house. You are correct that Hawala does this without a clearing house & Ripple is a digital version of Hawala.

The reason why you want this is because people use different local currencies. If my Chinese supplier only accept RMB as payment and if I want to use BTC how can the transfer take place? Either there is a clearing house that takes my BTC and gives him RMB or something like Ripple.

But why use an IOU/promise-to-pay (XRP) when I can use an asset/commodity (BTC)?

XRP is not an IOU. It's a deflationary, math-based currency, just like Bitcoin. It prevents ledger spam and acts as a bridge between two currencies. Say BTC -> XRP -> YEN. And you don't have to necessarily use it, if there's a cheaper path.

An IOU is just a balance that you have with a 3rd party. If you go to your Bitstamp or Cryptsy account, it will display how much BTC, USD, etc you have with them, right? That's your balance and that balance is an IOU. They "owe" you, X amount. It's just an IOU that is trapped in a central entity. (Well, of course Bitstamp is the largest Ripple gateway, so you can have access to your Bitstamp IOU's within Ripple.)

So again, with Ripple, instead of your IOU's being trapped and controlled by a central entity, you can move them freely into other things of value or even pay someone with them. Which just means, you're transferring that balance, to someone else. In Ripple, an IOU is not a means by which you can buy something now, and pay later. It's a representation of actual assets you own. When you exchange those IOU's, the asset balance is transferred to the new owner. The IOU simply determines who now owns that balance.

kgo

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Quote from: twiifm on April 18, 2014, 02:01:37 PM

That's exactly what he's talking and why Ripple is intriguing. Currently to send money across distances you need a clearing house. You are correct that Hawala does this without a clearing house & Ripple is a digital version of Hawala.

The reason why you want this is because people use different local currencies. If my Chinese supplier only accept RMB as payment and if I want to use BTC how can the transfer take place? Either there is a clearing house that takes my BTC and gives him RMB or something like Ripple.

But why use an IOU/promise-to-pay (XRP) when I can use an asset/commodity (BTC)?

~Coinseeker~

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Quote from: twiifm on April 18, 2014, 02:01:37 PM

That's exactly what he's talking and why Ripple is intriguing. Currently to send money across distances you need a clearing house. You are correct that Hawala does this without a clearing house & Ripple is a digital version of Hawala.

The reason why you want this is because people use different local currencies. If my Chinese supplier only accept RMB as payment and if I want to use BTC how can the transfer take place? Either there is a clearing house that takes my BTC and gives him RMB or something like Ripple.

+1 I had a whole post typed out but I honestly couldn't say it much better than that. I will add, if your making a BTC -> BTC payment, you don't need Ripple. Just send wallet to wallet. What reality is showing though, is most merchants don't accept BTC, they accept USD and they require a middleman or central clearing house, to facilitate that transaction. In this case, BitPay and Coinbase.

twiifm

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kgo

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QuantumQrack

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Ripple is no different than government issued fiat.

Topic: Why has Ripple decreased so much in Market cap? Used to be second to Bitcoin - page 5. (Read 5371 times)