Author Topic: ripple rally  (Read 44811 times)

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Offline spartako

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I hope this helps ...

P.S. I would rather comment on technical or economic aspects of the Ripple network instead of speculating about the recent price increase.

+5% great summary!

I think ripple and bitshares are not direct competitor and can work together in a great way.

If you want the ideals of current banking system, ripple is the best implementation.

If you want the ideals of bitcoin, bitshares will be (I hope) the best implementation
wallet_account_set_approval spartako

Offline Ander

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IMHO, latest rally has several fundamental reasons behind it and is NOT a pump and dump.

Reasons:

1. RL has stopped Over The Counter sales of XRP's to private parties to fund itself (source: one of Gateway operators intimated this in xrptalk.com). 

This is a big deal and explains the price increase.  I would say that the ripple price recently is a Crypto Bull Market move.  (Not a 'pump and dump').  Of course, the XRP price rise will eventually end and will be followed by a drop, but just like Bitcoin's price moves in 2011 and 2013, this might not occur until the price is up by 10x, or 100x first. 


I investigated ripple several months ago, and concluded that it was a powerful technology that was getting some big business partners. 

The only reason I didnt buy any was the coin distribution - Ripple labs and the founders had the vast majority of the XRP.  They have the ability to kill any price increase with a big sell.  This concentrated ownership position is a very big turnoff to crypto enthusiasts.

Clearly I should have sucked it up and bought anyway, regardless of the fact that ripple labs kept most of the XRP themselves.  (I guess that when you keep the money yourself, you are able to afford competent marketing). ;)


From all that I have read, Bitshares is the closest to doing what ripple is able to do, but in a decentralized way.   

I forsee a future with multiple successful altcoins.  XRP and BTS primary among them.
Ripple has become the first altcoin to truly threaten to take the #1 spot, so grats to everyone who invested.  I would love to see ripple have a reasonable pullback at this point, so that I can buy some, but I dont know that it will happen.  (I dont buy massive price rises, I buy things that are in harsh bear markets, and then I suffer as a result until they start going up again) ;)
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Offline alexkravets

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XRP has two built-in uses:

1. Dynamic transaction fees which escalate when transaction flow gets high (which bankrupts any attacker) are burnt.
Recent default tx fee has been increased 1000x from the initial design and went from 0.00001 XRP to 0.01 XRP ...

2. XRP is "sequestered" whenever a new account is created or whenever a new trust-line or an offer are added to the leger.
This sequestering, while not burning XRP ensures that the ledger does not become spammed with millions of accounts, trust-lines or offers. Whenever an offer is cancelled or taken, the sequestered XRP is un-sequestered and available with for other use.

« Last Edit: December 17, 2014, 08:06:47 pm by alexkravets »

Offline monsterer

I hope this helps ...

P.S. I would rather comment on technical or economic aspects of the Ripple network instead of speculating about the recent price increase.

Fascinating insight, really appreciate it.

Technical question: when are XRPs burnt?
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Offline alexkravets

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IMHO, latest rally has several fundamental reasons behind it and is NOT a pump and dump.

Reasons:

1. RL has stopped Over The Counter sales of XRP's to private parties to fund itself (source: one of Gateway operators intimated this in xrptalk.com).  This means that the last persistent seller of XRPs in the Ripple exchange itself is gone.  This also means that those private parties, such as market makers, gateways, big private whales, etc are now told to buy in the open market. RL now has both enough money in the bank to fund itself for 5+ years AND it still has a real-soon-to-be-announced deal with a consortium of VC's for Series A investment which will make it unnecessary to sell for a long long time to come.

2.  Additional XRP demand from friends-and-family of recent bankers who got or are getting on board

3. XRP valuation AS A STORE OF VALUE (not just as a speculative BTS-like DAC asset) has increased recently with increased volume ... it's a virtuous cycle ... several new exchanges began trading it

4.  BTC.SnapSwap/XRP has been the most liquid pair inside Ripple.  One of the reasons for that is that btc2ripple.com functions as both an incoming AND outgoing BTC bridge into and out of Ripple.  This means that it's possible to fund your Ripple account by simply sending BTC into an allocated BTC address and after 4 confirmations, you're ready to buy XRP inside the Ripple excchange.
Conversely, if you wish to sell XRP you simply "send yourself some BTC to some external address" and after selling XRP at best possible rates you observe a BTC transaction in 10 minutes arriving at your BTC address ... if you wish to observe XRP -> BTC cashouts in progress observe activity on this hot wallet address https://blockchain.info/address/1Q5NPoEk2ynLvCypcH5EmxSBdLs1KrYtbK

5. Trading within Ripple of ANY asset against ANY asset has no fees ... so liquidity begets liquidity.  Turns out that the most liquid exchange for KRW vs. BTC or JPY vs BTC is probably already within Ripple ... This means that Ripple functions a little like a liquidity black hole sucking liquidity from other less efficient exchanges and attracting people by both no fees and variety of assets on offer.
Notice the variety of assets and how liquid they are in the pie chart here https://www.ripplecharts.com/

6. Quote from the recent RL brochure / page: which USED to be here https://ripple.com/integrate/executive-summary-for-financial-institutions/ (presented here to show how much is "cooking" behind the scenes which outsiders don't have visibility into but friends-and-family of participants do)

Ripple Labs is working with:

Top-20 global, EU, and US banks
Consortiums of EU and US banks
Multibillion-dollar hedge funds and quantitative trading firms
Top-10 global remittance operators
Top-15 global telecoms (mobile money)


I hope this helps ...

P.S. I would rather comment on technical or economic aspects of the Ripple network instead of speculating about the recent price increase.
« Last Edit: December 17, 2014, 08:00:05 pm by alexkravets »

Offline Akado

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Doesn't this mean we can achieve this too? I think it's nothing to fuss about.
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Offline bitmeat

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People are selling BTC and flooding into XRP. Centralized is actually viewed as positive since it will be easy for corporations to embrace it. Smart programs are also quite potentially the end of all alt coins. Good luck BTS community.

Offline monsterer

Hi,

I'm an early Rippler. AMA (both technicals of protocol/network as well economic model, etc).

Cheers ...

What's your opinion on the rise and rise of XRP?
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Offline alexkravets

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Hi,

I'm an early Rippler. AMA (both technicals of protocol/network as well economic model, etc).

For those who like learning on their own, there's really no better single source than the wiki https://wiki.ripple.com/Main_Page

It's ALL there, seek and ye shall find :-)


Cheers ...
« Last Edit: December 17, 2014, 08:05:53 pm by alexkravets »

Offline pendragon3

Another +18% today, it's now at ~$2.4 billion market cap and over half of Bitcoin if you count the full supply... Really blows my mind..

Wouldn't it be much lower than that if there wasn't a few huge whales that don't sell? (read here the devs that have the majority of XRP "available" on the market).

I mean a little buying pressure and you're through the roof in market cap if less than 10% of the coins are really in circulation (I speculate on the % value in circulation, no hard fact). And the fact is that the pump is continuous, no major correction and its up 500% this fall... I don't see regular crypto market behavior here, as there's always a correction after a steep increase in market cap...

???

Yes, a simple explanation could be that since the supply is so extremely centralized it could just be a case of one of the big whales withholding supply, but on the other hand there's been huge and sustained volumes for a long time now. As you say it's normal crypto behaviour since we haven't had a correction yet, if this is a pump and dump it's the biggest one the (crypto) world has ever seen..

Actually, it wouldn't be too hard to engineer a P&D. Prices on the front page of coinmarketcap are volume-weighted averages of prices at individual exchanges, if I understand correctly. The volumes, and hence the weights, are based on a time average (24 hrs?) and are relatively stable. But the prices on individual exchanges (eg, BTC38) are most recent prices and easy to move.

So, it's possible to target the high-volume exchanges like BTC38 and disproportionately increase or support the market cap with small amounts.

Thus, if you wanted to, you could use a relatively small amount of funds to manipulate and support the overall market cap on Coinmarketcap. Then, other retail sheep investors or momentum investors would be drawn in, inadvertently supporting the price (at least for a while).

I'm not saying this is necessarily what's been happening with Ripple XRP, but the price disparity between BTC38 and other exchanges seems consistent with the possibility of an intentional effort to cause a price rise.



Offline mf-tzo

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Quote
Yes, a simple explanation could be that since the supply is so extremely centralized it could just be a case of one of the big whales withholding supply, but on the other hand there's been huge and sustained volumes for a long time now. As you say it's normal crypto behaviour since we haven't had a correction yet, if this is a pump and dump it's the biggest one the (crypto) world has ever seen..

It is not the biggest and it is not normal.. I have been following cryptos since April 2013 so I don't have much experience but I remember ripple at $0.1 falling to $0.002. It is $0.025 now...Don't get confused by the market cap when it comes to ripple one should see the price paid for these xrps...

Offline mf-tzo

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I don't think that ripple is supported by regular cryptocurrency investors and this is the message that we should get out to bitcoin whales now..

They can either participate in the existing centralised financial system and support ripple, or support a decentralized bank like bitshares and bitassets.

People believing in what bitcoin stands for should support bitshares. Speculators will always follow the money.
Making money is always nice but the ideals that we support will make the difference.


Offline svk

Another +18% today, it's now at ~$2.4 billion market cap and over half of Bitcoin if you count the full supply... Really blows my mind..

Wouldn't it be much lower than that if there wasn't a few huge whales that don't sell? (read here the devs that have the majority of XRP "available" on the market).

I mean a little buying pressure and you're through the roof in market cap if less than 10% of the coins are really in circulation (I speculate on the % value in circulation, no hard fact). And the fact is that the pump is continuous, no major correction and its up 500% this fall... I don't see regular crypto market behavior here, as there's always a correction after a steep increase in market cap...

???

Yes, a simple explanation could be that since the supply is so extremely centralized it could just be a case of one of the big whales withholding supply, but on the other hand there's been huge and sustained volumes for a long time now. As you say it's normal crypto behaviour since we haven't had a correction yet, if this is a pump and dump it's the biggest one the (crypto) world has ever seen..
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Offline Chuckone

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Another +18% today, it's now at ~$2.4 billion market cap and over half of Bitcoin if you count the full supply... Really blows my mind..

Wouldn't it be much lower than that if there wasn't a few huge whales that don't sell? (read here the devs that have the majority of XRP "available" on the market).

I mean a little buying pressure and you're through the roof in market cap if less than 10% of the coins are really in circulation (I speculate on the % value in circulation, no hard fact). And the fact is that the pump is continuous, no major correction and its up 500% this fall... I don't see regular crypto market behavior here, as there's always a correction after a steep increase in market cap...

???

Offline vlight

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Is there any way to short XRP? imho it's getting overbought.
« Last Edit: December 17, 2014, 04:24:16 pm by vlight »