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Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

nytimes.com

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Re: Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

#51

Post by Anderkent »

codegladiator wrote: post #35
tromp wrote: post #30

Earlier quoted context omitted.

> And then you can loose it yourself too. Admittedly, hardware wallets do a good job of keeping your private keys secure, allowing you to safely transact even on a malware infested PC.

Doesn't that defeat the purpose of having soft currency ? Hardware wallets sure can be stolen physically right ? Leaving that chuck of currency useless (if not transferred fraudulently)

Think of a hardware wallet as of a credit card. You will have some mechanism protecting it from being used when you're not next to it (password/pin); you will have some cold recovery option if you lose it (like a long passphrase stored in a safe deposit box).

But, like a credit card, the send/receive operations are performed on a secure, limited scope system (rather than an easily-compromised PC)

Re: Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

#52

Post by Anderkent »

bmking wrote: post #34
skydv wrote: post #13

Earlier quoted context omitted.

but they can't sell any of it without annihilating the market. It's like I sell a diamond to my friend for 1 billion dollars, but she pays me 1$ every year for a billion years. So formally I am a billionaire, but actually I am one diamond short.

It depends. Surely they could not instantly dump all of their "ripple assets" and expect the market to absorb it. But currently the 24-hours trading volume is 6.6 billion USD ( https://www.livecoinwatch.com/price/Ripple-XRP ). A huge part of that may be wash trading due to some zero-fee exchangers. Nevertheless I am speachless how relatively speaking a lot of money is actually being poured into this right now.

The market depth is a more interesting metric than volume. As you say wash trades, or just short-term speculative trades, inflate volume without actually impacting the size of the market.

Re: Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

#53

Post by waytogo »

Looked into both Ripple (XRP) and Stellar (XLM) and invested more into Stellar because of...

- the much better scaling than traditional coins (semi-central structure)

- the track record of the founder Jed

- the fuller feature set including the creation of new tokens like ETH but easier

- the recent announcement like IBMs partnering and stress tests, Kin moving to Stellar, Signal's founder creating his coin on Stellar

- Stellar's lower market cap, so there's still room above

I think Ripple is also good but has a different focus and since the original founder of Ripple left to Stellar, I am a bit more into Stellar.

Re: Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

#55

Post by teekert »

Yeah, he's pretty rich... if he cashes all his Ripple at the price point of the current highest bidder. However, said bidder will not want all of it, so some will go at a lower price, and so on. Eventually the price may become extremely low due to the very high supply (which diminishes demand again). I wonder if this is taken into account. All crypto starters are rich in their own coins but they can never cash it in, at least not all at once.

Same holds true for "normal" money since the gold standard was left behind of course.

Their wealth depends on someone willing to pay a price, she or he is willing to pay said price because she or he expects the next person to pay even more at some point. Classic pyramid. Bad? I don't think so. Heading for an eventual crash? I think it will, at some point. Hopefully I'll get rich before then.

What Ripple has going for it is that they may actually succeed at making it a system banks will adopt. If futures become available, insuring parties against fluctuations during transfer, Ripple may have actual value over just the next girl/guy wanting it more than you.

Re: Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

#56

Post by jasonwilk »

I'm curious if the venture investors in Ripple (seed, Series A, b, etc) benefit at all from the uptick in XRP. I assume an equity investment did not take the form of coins when those deals were done. Hopefully for those VCs I'm wrong. Anyone have an idea?

Re: Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

#57

Post by ObeyTheGuts »

iamleppert wrote: post #5

The thesis statement here is value itself is an arbitrary concept and is such because we say it is. It's completely imaginary, often times irrational and a shared fiction. The fact that we have conventional billionaires at all is almost a ridiculous concept in and of itself, as any amount of tangible work is always done en masse, not by a singular person. Works can be created by individual contributors but it is the…

Sorry, but to use fiat+bank i have to bow down like a slave and show my passport and my sheep tag(name), with bitcoin im full on master of millions euro worth capital without ever needing any cocksucking

Re: Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

#58

Post by sethgecko »

waytogo wrote: post #53

Looked into both Ripple (XRP) and Stellar (XLM) and invested more into Stellar because of... - the much better scaling than traditional coins (semi-central structure) - the track record of the founder Jed - the fuller feature set including the creation of new tokens like ETH but easier - the recent announcement like IBMs partnering and stress tests, Kin moving to Stellar, Signal's founder creating his coin on Stellar…

I looked into the top15 currencies by market cap. I decided to stay away from cardano/tron/iota/bitcoin cash/dash/neo. Stellar is my favourite so far other than bitcoin even though I don't 100% understand the consensus algorithm yet.

Re: Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

#60

Post by down »

randomerr wrote: post #44
pixie_ wrote: post #11

Earlier quoted context omitted.

Which one of these properties of cryptocurrency is imaginary? Coins cant be faked or duplicated No one can create them at will They can be transmitted quickly/globally with low fees (excluding bitcoin of course) You can store them yourself, no bank needed Sending huge sums of money is no problem Relatively simple design, 8 page white paper Has worked as designed for almost a decade Seems like crypto has a lot unique…

I respect fully disagree wit many of your statements. From my experience I've seen these kind of schemes comes and go: * Coins can't be faked or duplicated - YET - If you get a bot net arguing other the same coin either someone is going to get the coin or the coin is going to get lost. It kinda like the Captain Midnight and HBO. If you haven't heard about HBO and some other TV networks has launched a communication sa…

you have a nice argument overall, but gets invalided because you don't know that tulip mania didn't actually happened, is just propaganda of those times, was a raise in prices then a fall, nothing dramatic how you try to portrait, happened in crypto space many times, your argument is oh, if humans were so stupid back then to go crazy for flowers, they must be as stupid now, so is just that, but no humans weren't that stupid.

Interesting that you didn't used the dotcom example, but that's easier to debacle because it is just a small blip on the chart if you look at the whole picture, not to say that there are counter examples too, eg. cars being just a fad, the internet being just a fad, so anything could happen, I would rather loose some money, then miss on 100k bitcoin.

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