The difference between Ripple & other cryptocurrencies such as cryptos based on DPoS protocol is that in Ripple, ONLY institutions can become a "validator" (processor of transactions). Every server processes every transaction according to the same deterministic, known rules. While, for example, in cryptos such as Bitshares (BTS) network ANYONE can become a validator ("witness"). The stakeholders (i.e. BTS holders) can elect any number of witnesses to generate blocks.
If no one mines it then who creates it? If you say its value pegged to national currencies then it should be 1xrp =1usd. If all tokens are already in circulation then "someone" needs to decide/decree on how much to produce or to be in circulation.
As a network it makes sense...as a currency(commodity) it doesn't.
Ripple use case is to move fiat currency seamlessly across borders, so buying ripple is proof of ownership with 1 USD = 1XRP (or weighted rate of the basket of all currencies). There are other cryptos that also offer only proof of ownership but their use cases is more than moving currencies, such as SALT or Steem or ADX
Obviously, Ripple is aimed to be the new global fiat. People love fiat, so the banks need to accept it and bingo, and why would fiat need to be mined ?
What with us sitting below $1.85 right now aching towards $2, Haejin's $4 bet is conservative.
Correction, we're pushing on $1.95 right now...
nobody cares about ripple's xrp. it's a hype now. Dead coin, like BTC. All crypto that is controlled = dead.
It was exceedingly hard to trade yesterday, so I sold and went into Lumens.
But the entire dumb money is flooding into Ripple right now, so dead is not the word.
It's just way to volatile for me to be interested any longer.
I think you're being WAY too emotional about these things, though
Do you understand the whole philosophy of why cryptocurrency came into existence?
Do you understand that it makes no difference to most users what philosophy initiated the Big Bang ?
Ripple is already crashing down. It will go to 1 USD, before it goes to 4 USD. The big difference, that there's only 16 million bitcoins, and 100 billions of ripple coins! And also don't forget market cap – if ripple is $4, that means ripple market cap is way higher than bitcoin! and that's probably not going to happen. If bitcoin hit the ceiling at 20000; ceiling for ripple is 2 USD.
Since when does any cryptocurrency's price have to correlate to anything tangible? I always ROFLMAF when some Millennial refers to Bitcoin as "digital gold" or "a store of value".
Humans need mental planks they can cling to while floating through a relative universe, trying to apply causal thinking every minute of the way. We're all condemned to be cosmic day-traders ;)
welcome to the new world, my friend. Soon enough, these "new millennial" will be the ones running the world and ROFLMAF at the past primitive forms of store of value, such as a piece of rock. ROFLMAF!
Brother, ripple went from 50 billion in market cap to 90 billion. Once Coinbase puts Ripple on their platform on Jan 8th, I suspect people will sell a weakening Bitcoin for the Crypto currency that's been showing nothing but promise. Bitcoin has lost 25 billion in market cap since Noon, 29Dec2017.
Ripple is not a cryptocurrency. Please do the research. XRP is not used by banks they use a completely different net called RippleNet.
Ripple Surges 50% To Become Second-Largest Cryptocurrency
https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/cbovaird/2017/12/29/ripple-surges-50-to-become-second-largest-crypto/&refURL=https://www.google.de/&referrer=https://www.google.de/
Maybe you mean that Ripple is not a currency in the context that I said, because you're right with regads to RippleNet. Thanks for that correction.
Is the Coinbase listing date of January 8th confirmed? A friend texted me that yesterday, and all my research turned up was a possibly faked photo of a monitor.
A few Youtubers have mentioned it. So upon digging deeper I found this: https://cryptosumer.com/2017/12/26/another-coinbase-gdax-leak-more-coins-added-january-8-or-sooner/
Not sure how reputable the site is, but it's my source. I very well could be correct on the faked photo. It's definitely hype.
A few Reasons Ripple ISN't Bitcoin. Open to your counter arguments,
Ripple Network Effect - Small & Weak , No one has Ripple wallets.
Decentralisation - None. Large ownership of coins are with the founders.
Censorship Resistance- Low to None . Government or Banks (as Proxy for Government are able to censor, stop, amend supply or do anything they wish to Ripple. It cannot be an independent store of value.
Replication: How is ripple not simply replicated/ duplicated by the banks or government agency working with the banks?
More to come on this, just curious on your responses to points 1-4
A few Reasons Ripple ISN't Bitcoin. Open to your counter arguments,
Ripple Network Effect - Small & Weak , No one has Ripple wallets.
Decentralisation - None. Large ownership of coins are with the founders.
Censorship Resistance- Low to None . Government or Banks (as Proxy for Government are able to censor, stop, amend supply or do anything they wish to Ripple. It cannot be an independent store of value.
Replication: How is ripple not simply replicated/ duplicated by the banks or government agency working with the banks?
Big bang was also initiated with a property that people have a choice to be ignorant.
New investors will definitely want to buy a XRP $1.9 /coin compare to BTC now at $14789, no brainer for investment. Low investment to jump in.
I hope $ to XRP conversion is coming soon, to save us fees from $ to BTC to XRP.
Cheers,
@Yehey
Don't look at the price of the coin as its value. This is a common mistake. Everyone wants to buy what is cheapest and would rather buy something for $1 than something for $1,000, but it's incorrect thinking. You have to look at the number of shares or coins X the current price to see it's market value. Anyone can simply change the number of shares by doing a split, let's say a 10 to 1 split, and the result for a $1,000 stock would be $1,000/10 = $100 per share, but you also have 10X the number of shares. So if you originally had 1,000,000 shares you now have 10,000,000 shares. The The company's value is the same if both cases. So my point is you can't compare BTC to XRP in terms of it's coin price. That has no meaning.
The problem is, dumb money people don't do this.
Now with Ripple it will be a fight between such dumb money and the companies who really control the value of Ripple. Guess who has the upper hand.
Right, indeed a common mistake. Look at market cap, current supply and max supply.
You can already purchase XRP against USD / EUR on Kraken, for your information.
True!
The price of the coin is irrelevant - if they go up the same percentage you make the same amount of profit. How many coins means nothing only percentage increase or decrease.
Exactly!! I can't count the number of times I had to write this.. And also: This is NOT shares people.. If you buy crypto currencies or tokens, you are not buying a share of the company. It is nothing like buying shares. In fact, the whole market value right now is based almost entirely on speculation of future value of the platform that the token/currency belongs to. And that actual utility and practical value has yet to be proven in most cases. For Ripple.. it's the most tangible concrete use case out there. I advise you invest in long term in projects you can see real world use in. The rest is just for swing trading. Also high risk. Don't go chasing pumps..
dammit! i sold my eth yesterday and bought XRP still hopping it will get to 2.5 to 3 USD
From my perspective I won't consider it as a legit investment...maybe for speculation yes!
But it's a centralized digital IOU that there's potential flaw of double spending!
You may not consider it a legit investment, but you have to admit, its a great medium term trade.
Sure, but personally I rather not contribute to something until I clearly understand it one way or the other.
Problem is there is little chance straight matically that XRP can go much over $10 (that begins to push it). On top of that the owners of Ripple can always just put more XRP in the market whenever they want. They have many many billions in "lockdown".
A few Reasons Ripple ISN't Bitcoin. Open to your counter arguments,
Ripple Network Effect - Small & Weak , No one has Ripple wallets.
Decentralisation - None. Large ownership of coins are with the founders.
Censorship Resistance- Low to None . Government or Banks (as Proxy for Government are able to censor, stop, amend supply or do anything they wish to Ripple. It cannot be an independent store of value.
Replication: How is ripple not simply replicated/ duplicated by the banks or government agency working with the banks?
More to come on this, just curious on your responses to points 1-4
I agree with you . Ripple price is controlled by them . They can bring the price down anytime .
Just a thought - who (including 'they' and 'them') gain by bringing the price down? Where would be the benefit to 'them'? Yes, they could pick up more for less, but if by 'them' you're referring to the founders, they're holding back 60 billion of the 100 billion coins, so why would they crash the price of their own asset? Just curious?
They would sell large amount and take the profit .even if you sell 1% of coin , it could crash the market because liquidity is too low .
They have done that previously . Just DYOR .
I am not saying this would happen but it may in future .
It just flies in the face of logic, though, does it not? Sell 1%, pocket the profits, and crash the value of your remaining 99%. Remember - they're inside the banking fraternity, so the Ripple team can almost certainly borrow fiat against their XRP holdings, any time they like. Crash the value of their holdings, and their ability to borrow is instantly reduced.
I accept they MIGHT do this, in a very small way, very occasionally (though I struggle to see why) and this MIGHT cause a dip in price, but every crypto - indeed, every asset - goes through peaks and troughs. It's just part of the game, so where's the difference?
For me, this coin has a strong use case, with powerful backers, and an end result of lower transaction costs for trans-national banks. They face regulatory hurdles, but for a strong enough case, regulators bend to what banks want anyway.
I like ripple , only reason i am not in it ,is because it is centralized .
Btw banks wont use this coin . They only want to use the network .
You're right - the banks are only using the underlying network and protocols
Are you saying that Ripple should be valued at $1 exactly?
IMHO, yes!
I must insist this to be one Pound Sterling, exactly - but as I'm one the phone with Baron Rothschild right now, let's maybe postpone the deliberation
Okay got it, you're the smartass on the block!
smartass on the *blockchain ;)
That would make sense to make bank transactions much easier, probably it will eventually settle at 1 dollar, after all this new investors hype is over.
Can someone help me with these two questions:
I appreciate this community and your help with these two questions. Thank you all
charts doesnt show time. When @haejin predicted XRP to go to 1$ - that took 1 month, from 20 cents to 1$. SO 4$ can be as soon as in 4 weeks.
Two things that may help my friend:
"In a Quantum Event, time goes vertical such that there is no linear time. If price is a result of sentiment and Perfect Thought is unbound by time, then a Technical Analyst should focus most on price pathway accuracy and less on time projection. Why? The return on investment for Time projection is very low."
BTS FOREVER ! I read at some Magazine that ripple could be 1000 $ in a few years. What do you thonk about this ? Thanks !
If ripple would be 1000 USD, the market cap of ripple would be higher then gold! So don't dream. Max for ripple is 15-20 USD in next 5 years. Why nobody cares about supply of coins? Do you do some research? Bitcoin have big price not because keeps buiyng it, but because the supply is limited – 16 millions bitcoins are available today. For ripple – there's 100 billion coins!!! available! So do your 1+1 :)
By 2030, this will be the USD:
I read it at some forbes forcast story i think... it was like where BTC, ETH, ripple etc. could be at the year 2030... There BTC was predicted at 200 000 $ :) I think + hope that this is just the beginning and more and more money goes in cryptosurrency.
Technically, Ripple also has limited supply. The overall quantity of XRP does not increase; they are already pre-mined, remember? It's just that the Ripple company is holding rather big chunk of the supply, and they are planning to gradually release them into the circulating supply. The overall supply of xrp is actually decreasing, for some xrp is lost per transaction.
Supply would only matter for coins that does not have a limited supply, perhaps like Ether.
Actually, there's not 100bn available - 'only' 40bn. The remainder is held by the founders
What reasons did they provide that it will hit 1000?
A few Reasons Ripple ISN't Bitcoin. Open to your counter arguments,
Ripple Network Effect - Small & Weak , No one has Ripple wallets.
Decentralisation - None. Large ownership of coins are with the founders.
Censorship Resistance- Low to None . Government or Banks (as Proxy for Government are able to censor, stop, amend supply or do anything they wish to Ripple. It cannot be an independent store of value.
Replication: How is ripple not simply replicated/ duplicated by the banks or government agency working with the banks?
More to come on this, just curious on your responses to points 1-4