How convenient for Ripple....

[tonyk]

so it's just a coincidence that immediately after Dan anounced that Invictus will purchase a large amount of bitshares the price started to spike? Second where are the ags holdings? Third, charts show a cascading purchase pattern this does not require every order to come from i3 just the bootstrap to create the speculative cascade.

You'll know if the currency experiences a rapid correction. We saw this same pattern with maxcoin.

IMHO the initial market cap should have been 60-90Mil to begin with... that if BTSX did not lunch as a strap down version of itself, strapped to just another alt coin. So I do not see this spike the way most  people do.

[oco101]

That is not true, they did not make more ripples, it has to do with how Coinmarketcap calculates the market cap of Ripples. https://www.ripplelabs.com/xrp-distribution/

There has always been 100 billion Ripples, but Coinmarketcap doesn't count the ripples that Ripple Labs owns in the market cap on their web site. It seems ripple labs either distributed more of the ripples to users, or if you read the asterisk on the user's ownership it says:

*Total include business development agreements that are still pending.

It seems they probably made a "business development agreement". Whatever that means.. Technically, Ripple has a market cap of $487,000,000

Not that I'm a huge fan of Ripple.. but that's just how it is.

Thanks for clarifying. So the only question remaining is : Why now ?

[Stan]

Has everyone forgotten that invictus is dumping ags funds into bitshares? Your market spike has been largely due to the bullish position invictus has taken. If I buy millions worth of litecoin, then it would spike too. Market caps are vanity metrics. Real value is preserved over the long run.

You can examine our open spreadsheet for yourself. Only about 300 BTC since our announcement.  Counting smaller investments prior to that, we have averaged less than $25K per day for the past 11 days for a total of less than 500 BTC invested or about $250K over 11 days.   The volume today alone was 4.5 Million.  Therefore, on average we account for about 5% of what is happening.

[johncitizen]

so it's just a coincidence that immediately after Dan anounced that Invictus will purchase a large amount of bitshares the price started to spike? Second where are the ags holdings? Third, charts show a cascading purchase pattern this does not require every order to come from i3 just the bootstrap to create the speculative cascade.

You'll know if the currency experiences a rapid correction. We saw this same pattern with maxcoin.

Any smart investor would have bought, knowing it would trigger a market reaction. This recent rise is due to the new markets opening up and the success of them. BitUSD.

I dont think a rapid correction confirms your theories. Perhaps we will correct, but these markets remain irrational and bubbles keep going far from where you would expect.

[Empirical1]

so it's just a coincidence that immediately after Dan anounced that Invictus will purchase a large amount of bitshares the price started to spike? Second where are the ags holdings? Third, charts show a cascading purchase pattern this does not require every order to come from i3 just the bootstrap to create the speculative cascade.

You'll know if the currency experiences a rapid correction. We saw this same pattern with maxcoin.

I think these are the documents relating to AGS funds

https://docs.google.com/spreadsheet/lv?key=0AqTwk-e7yzJydDFnQmlkTVlkbWpubnJBbzR2UG5ucnc&usp=sharing

https://docs.google.com/spreadsheet/lv?key=0AqTwk-e7yzJydFZ3bVVWT0o1OUwzXzdESHFBY0FkUWc&usp=sharing

The few hundred BTC is pretty insignificant relative to price movements other than a nice vote of confidence that BitShares believe in BTSX enough to have more exposure to it.

The price has clearly been rising as people anticipate the release of BitAssets imo.
(And then spiking on their release)

[lucky331]

i'm a ripple supporter too and all, but this is just ridiculous.  opened a couple of threads to ridicule ripple labs, feel free to drop by:

https://xrptalk.org/topic/3772-xrp-is-back-at-no-3-at-coinmarketcap-lol/?p=48032

https://ripple.com/forum/viewtopic.php?f=1&t=7724&p=55847#p55847

[bytemaster]

so it's just a coincidence that immediately after Dan anounced that Invictus will purchase a large amount of bitshares the price started to spike? Second where are the ags holdings? Third, charts show a cascading purchase pattern this does not require every order to come from i3 just the bootstrap to create the speculative cascade.

You'll know if the currency experiences a rapid correction. We saw this same pattern with maxcoin.

Well, in all fairness they also announced that the market will go live today about a week ago. My only concern with this quick run up, is that the margin may not be sufficient and people who shorted BitUSD might get burned. Especially since market is not working right now due to (yet another) hard fork.

Would be nice if people can adjust their margin from the get go. e.g. short BitUSD and put margin 1:10.

Market is live again.

[bitmeat]

so it's just a coincidence that immediately after Dan anounced that Invictus will purchase a large amount of bitshares the price started to spike? Second where are the ags holdings? Third, charts show a cascading purchase pattern this does not require every order to come from i3 just the bootstrap to create the speculative cascade.

You'll know if the currency experiences a rapid correction. We saw this same pattern with maxcoin.

Well, in all fairness they also announced that the market will go live today about a week ago. My only concern with this quick run up, is that the margin may not be sufficient and people who shorted BitUSD might get burned. Especially since market is not working right now due to (yet another) hard fork.

Would be nice if people can adjust their margin from the get go. e.g. short BitUSD and put margin 1:10.

[johncitizen]

This was without any doubt, done to prop the market cap.

Read the disclaimer,

*Total include business development agreements that are still pending.

Convenient enough to issue a few billion ripple that is for bogus business agreements.
Reeks of desperation, fraud and incompetence.

Come on now, let's not go that far. How is that different from I3 buying BTSX with AGS donations? I think it makes perfect sense for I3 to do that, especially if they believe in their product and want to hire help using BitUSD.

But same could be said for Ripple, it's OK for them to incentivize developers/business partners. Let's not call it desperation, fraud and incompetence, just because it happens to mess up your coinmarketcap stats. Ripple has done some serious innovation in the space, even if it is not obvious to the naked eye.

I think your right, I went too far with that.

It is a convenient time to answer all the press articles with a magical comeback to no#2. It is not about the market cap that bothers me, its the internals of how ripple works to allow such activity. Ripple in  my opinion has always been fraudulent of its cap. There is no trade volume to justify that figure, only hidden vaults of premine.

It is desperate, but perhaps incompetent is misused.

[charleshoskinson]

so it's just a coincidence that immediately after Dan anounced that Invictus will purchase a large amount of bitshares the price started to spike? Second where are the ags holdings? Third, charts show a cascading purchase pattern this does not require every order to come from i3 just the bootstrap to create the speculative cascade.

You'll know if the currency experiences a rapid correction. We saw this same pattern with maxcoin.

[bytemaster]

Has everyone forgotten that invictus is dumping ags funds into bitshares? Your market spike has been largely due to the bullish position invictus has taken. If I buy millions worth of litecoin, then it would spike too. Market caps are vanity metrics. Real value is preserved over the long run.

The volume is in excess of the BTC held by us... the vast majority of which still sits in the AGS address or the cold storage wallets.   Our buying strategy does not involve bidding up the price (unfortunately) because we didn't want to move the market.   So the most you could say is that we support the price adjustments made by other market players and catch the dips. 

I am not running the purchase.. but it is less than 300 BTC... hardly the millions you claim.

[johncitizen]

Has everyone forgotten that invictus is dumping ags funds into bitshares? Your market spike has been largely due to the bullish position invictus has taken. If I buy millions worth of litecoin, then it would spike too. Market caps are vanity metrics. Real value is preserved over the long run.

Sorry Charles I strongly disagree.

By following the money its clear that local chinese demand is fuelling the boom with over $3M USD flowing in from CNY daily.

The bitcoin demand approached 800k in the last 24hrs but has averaged in the 400k USD.

Invictus is not buying millions of BTSX. Chinese investors are.

[bitmeat]

This was without any doubt, done to prop the market cap.

Read the disclaimer,

*Total include business development agreements that are still pending.

Convenient enough to issue a few billion ripple that is for bogus business agreements.
Reeks of desperation, fraud and incompetence.

Come on now, let's not go that far. How is that different from I3 buying BTSX with AGS donations? I think it makes perfect sense for I3 to do that, especially if they believe in their product and want to hire help using BitUSD.

But same could be said for Ripple, it's OK for them to incentivize developers/business partners. Let's not call it desperation, fraud and incompetence, just because it happens to mess up your coinmarketcap stats. Ripple has done some serious innovation in the space, even if it is not obvious to the naked eye.

[tonyk]

Has everyone forgotten that invictus is dumping ags funds into bitshares? Your market spike has been largely due to the bullish position invictus has taken. If I buy millions worth of litecoin, then it would spike too. Market caps are vanity metrics. Real value is preserved over the long run.

yes, we know badly enough mostly in CNY...

[edit] For the non sarcastic edition of my response see BM's below.

[bitmeat]

Has everyone forgotten that invictus is dumping ags funds into bitshares? Your market spike has been largely due to the bullish position invictus has taken. If I buy millions worth of litecoin, then it would spike too. Market caps are vanity metrics. Real value is preserved over the long run.

Agreed. This is still early days, it's great excitement, but I think we have long ways to go until real value is created. That said, I'm sure Bitcoin had all sorts of problems back in the days when it was trading under $1,

Would love to see the Lua scripting integration, which would instantly give it Ethereum like features.