No reason it can't hit 0.
I am the reason BTC will never hit zero. I'll offer $.01 per 1000 BTC no matter what!
I will double your offer $.02 per 1,000 BTC
Topic: XRP's 200 ripple account requirement is no different than taxation for fiat use. (Read 881 times)
April 02, 2013, 04:45:51 AM
I am the reason BTC will never hit zero. I'll offer $.01 per 1000 BTC no matter what!
I will double your offer $.02 per 1,000 BTC
March 02, 2013, 01:10:12 AM
Well it is kind of Communist, so the flipside is you can always get your own XRP over in the bread line 
March 02, 2013, 12:56:18 AM
By requiring ripple accounts to have at least 200 XRP for it to be functioning, OpenCoin Inc (who I feel is hardly open) is creating an artificial demand for the premined XRP (Ripples). This is akin to tax required in the nation's fiat currency to artificially create use cases for that currency.
Great point - I will add it to my megathread. 
March 02, 2013, 12:51:24 AM
No reason it can't hit 0.
I am the reason BTC will never hit zero. I'll offer $.01 per 1000 BTC no matter what!
February 28, 2013, 11:32:38 AM
Yes, XRP is similar to fiat in this respect - you can say that it was declared a legal tender of Ripple system. The thinking is, reserve and transaction requirments will bootstrap XRP into having some non-monetary value, and then it'll stick, allowing XRP to develop into money. It remains to be seen if such development will happen though.
February 28, 2013, 08:45:18 AM
By requiring ripple accounts to have at least 200 XRP for it to be functioning, OpenCoin Inc (who I feel is hardly open) is creating an artificial demand for the premined XRP (Ripples). This is akin to tax required in the nation's fiat currency to artificially create use cases for that currency.
Good point. XRP is form of chartal money. It's like a coupon.
BTC, on the other hand, is entirely a boot strap asset. The good thing about XRP's chartal nature is that as long as Ripple is being used, there will always be some sort of core non-monetary demand to anchor XRP's price when it falls. BTC doesn't have a non-monetary component so it lacks an anchor to the downside. No reason it can't hit 0.
February 28, 2013, 08:16:03 AM
i cant exactly say that ripple excites me..
February 28, 2013, 08:14:18 AM
By requiring ripple accounts to have at least 200 XRP for it to be functioning, OpenCoin Inc (who I feel is hardly open) is creating an artificial demand for the premined XRP (Ripples). This is akin to tax required in the nation's fiat currency to artificially create use cases for that currency.
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