Topic: XRP - Ripple (Read 933 times)

XRP is the opposite what crypto is all about.
Once Ripple labs sold all xrp's to you or given them free to the banks they will abandon it (phase out like MS has done with XP) as they have no real use for them. As long as it makes money they will support it, once it becomes a liability it be drooped like a hod potato.
No xrp is needed to go from dollar to bitcoin or anything other with some liquidity.
Unlike bitcoin you will never own any xrp. you may use it or look after it for some time but thats about it.

I see what your saying. Id say of the 80% xrp produced, ripple labs is selling in bulk to gateways but also freely distributing to others building ontop the protocol and also using xrp as an asset to pay off lobbying and lawyer fees. 

They don't want somebody or group to gather xrp's freely now just to save up and spam the network later on making transaction cost no better than any other payment system out there.

The more ripple is used the more demand for xrp there will be. The higher demand for xrp will make the makers of ripple rich for providing us the best regulated cross border value system out there.

This in turn provides more purchasing power for Ripple Labs to pay its engineers and for Rippleworks to be in a great position to provide a banking network to the underbanked. There is money to be made on the next 2bil people in the world that will be using the internet for the first time in the coming years.

The banks holding the people's money are easier to sell to rather than the people themselves.

I dont see a better way to send value across borders as cheap, safe, and compliant against terrorism funding as ripple. However, I do admit I am pessimistic on how much transaction savings by banks using the ripple ledger($20billion) will trickle down to the consumer. This makes people mad that the banks are stealing satoshi's open source ideas just to profit off them and cause another worldwide financial crisis. But behold there are ways for individual use of ripple through companys like SnapSwap and Gatehub that will bring liquidity to the people.

All XRP are already created, they initially belonged to Ripple Labs (80%) and the founders of Ripple Labs (Arthur, Chris and Jed, 2%/9%/9%). While Ripple itself is a quite interesting marketplace/exchange, XRP are only used to prevent spam by paying fees and to have a neutral currency to pay these fees in. They can also be used as a neutral intermediary. You can for example exchange currency1 for XRP and currency 2 for XRP, so you can also exchange currency1 for currency2. On Poloniex for example most markets are between Bitcoin and random_altcoin, not random_altcoin1 and random_altcoin2, on Ripple most markets currently go through XRP.

I personally wouldn't recommend speulating on XRP even though I like Ripple itself, then again you might have a different view. Viewing Ripple as an "altcoin" however is going to severely limit your outlook and usability - it's like buying Bitcoins only to unlock your infected computer.

God27, you may know more about it than I do, but doesn't Ripple Labs sell all the original Ripple?  Isn't that how Ripple gets created?  You buy it from Ripple Labs?  It makes sense that they'd say that they plan to be minority holders.  I would too if I were them.  If I could sell off a 100% premined coin to users and then be a "minority holder" that sounds pretty ideal.

I think Ripple Labs plans on being a minority stakeholder in xrp's and at the same time have xrp's distributed to "who and what" legally utilitize the network to make the world's financial markets more efficient.

Ahh I see what you mean, thankyou for clarifying

On the assumption that you're actually curious about why Ripple isn't really considered much around here, it has a lot to do with the centralization.  Whereas the "altcoin" family are all, to some degree, clones of bitcoin (yes, they vary the algorithms and the block rates and ceter, but the hallmark is a decentralized ledger kept on a P2P network), Ripple, as far as I understand it, is owned and operated by a single company which, while using some cryptography to secure transactions, doesn't have the main factors that people here find crucial.  The main one of those being decentralization---trustlessness.  The main idea thesis of Satoshi's white paper is how to create a trustless exchange system that doesn't rely on a third party.  People here find that crucial.  I hope this helps.

Well I tried to trace it but couldnt, I was able to cancel one of the transactions which was the Dashcoin, since i was able to get back into my account and cancel the transaction, but I was not able to cancel the YACC which was most of my balance about 0.26 BTC. 

http://imgur.com/eARHuKB
 
The Hacker's Yacc address: Db6KSFYLqgDqb7KPQSTtf6dfbb3bMZzrXS

Sorry to hear about that. Yeah, post the addresses and we'll get drunk/high and click thru the blochchain.

No worries, we're on the case!

Also, always 2fa on top of 2fa. If you can, make sure there's a 2fa in the middle of those two as well.

Post addresses of your coins here and let's figure out where they went.

Yea it was pretty devastating, It was from my first paycheck too (recently graduated from uni), I wanted to invest in something and found XRP as the best option, so I got 1 BTC and bought about 29,000 XRP, Then i found out about Poloniex sold the XRP, bought Clams and Blackcoin and some other random coins like YACC and Dashcoin then about a week ago some guy hacked my email, and got access to my account..he was able to get away with most of my balance.

It was my fault for not enabling two factor authentication, but it was a pretty hard one to swallow.

Really .. you bought an entire bitcoin and had your account hacked, before you even posted on btctalk once ...... ?

come oooon 

What are your thoughts on XRP, I invested 1 BTC about a month ago, which I later exchanged for other crypto that was stolen from me after some guy hacked my polo account...But all the posts that I read never include Ripple as a crypto that has potential. Anybody care to explain why ? I see it has great potential since it has become a mainstream crypto and has a great dev team with a vision, while also maintaining its price without huge fluctuations, making it a very sensible investment.

New to the world of cryptocurrency and Bitcoin
Would love to read some of your responses