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Attachments: Ripple as a crypto
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Ripple as a crypto

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  • Post #121
  • Quote
  • Aug 13, 2019 11:48am Aug 13, 2019 11:48am
  •  Hasher
  • Joined Jul 2019 | Status: Member | 246 Posts
Part of me wonders if the ultimate goal is just to beef up the Ripple technology as much as possible and sell that as a ready-to-deploy blockchain solution, XRP is just the proof of concept / demo running on their tech and gives them the funding in the meantime.

Even if (a big if) banks/institutions used Ripple it does not mean they would use XRP.
1
  • Post #122
  • Quote
  • Aug 14, 2019 3:19am Aug 14, 2019 3:19am
  •  Goat
  • Joined Jan 2009 | Status: Member | 385 Posts
Quoting Hasher
Disliked
Part of me wonders if the ultimate goal is just to beef up the Ripple technology as much as possible and sell that as a ready-to-deploy blockchain solution, XRP is just the proof of concept / demo running on their tech and gives them the funding in the meantime. Even if (a big if) banks/institutions used Ripple it does not mean they would use XRP.
Ignored
I don't know about that. Their whole banking angle seems like a ruse to me. Everyone knows that banks are the last ones to adopt new technology... the best of them is probably running 20 year old software! They have to be like that, primarily for security, but also for compatibility with other banks, operational issues, compliance, etc.

If you just read the Ripple press releases you'd think half the banking sector was ready to replace SWIFT with Ripple. But if you read the fine print you'll see that they are just running beta tests with the guy at the bank that runs beta tests. It's a whole lot of hype over nothing.

You'll notice something about the barrage of press releases... you never read them on the bank's site. It's always Ripple making the big deal about it, and the bank never shows interest from their end. I bet you can't show me one Ripple-related press release on a bank's website that says they plan to use Ripple in any material way... and that's a big red flag!

Welcome to Ripple Inc.!
1
  • Post #123
  • Quote
  • Aug 14, 2019 11:22am Aug 14, 2019 11:22am
  •  cryptocow
  • | Joined Aug 2018 | Status: Member | 364 Posts
Quoting Goat
Disliked
{quote}What are you getting at with the Ico thing though? Are you interested in the semantics, or trying to understand how Ripple is structured?
Ignored
Even if Ripple did have an ICO, calling Ripple an ICO is still wrong. No one refers to Ethereum as "an ICO", and no one refers to Filecoin as "an ICO", even though both of them had an ICO.

It's like saying "Pier 1 is a Chapter 11" because you think they are about to file for bankruptcy. First off, saying "[any company] is a Chapter 11" sounds silly, and second, Pier 1 has not filed for bankruptcy.

"Centralized" or mayyybe even "shitcoin" can be used to describe Ripple, but not ICO.
  • Post #124
  • Quote
  • Aug 15, 2019 10:20am Aug 15, 2019 10:20am
  •  Ziko9o8
  • Joined Mar 2011 | Status: Member | 869 Posts
Next 16 cents XRP
1
  • Post #125
  • Quote
  • Aug 23, 2019 11:44am Aug 23, 2019 11:44am
  •  Hasher
  • Joined Jul 2019 | Status: Member | 246 Posts
Quoting Hasher
Disliked
Part of me wonders if the ultimate goal is just to beef up the Ripple technology as much as possible and sell that as a ready-to-deploy blockchain solution, XRP is just the proof of concept / demo running on their tech and gives them the funding in the meantime. Even if (a big if) banks/institutions used Ripple it does not mean they would use XRP.
Ignored
https://www.cryptocraft.com/news/943...sing-ripple-to

As expected, they're using Ripple tech but not XRP. Still a win for them however.
  • Post #126
  • Quote
  • Edited at 12:52am Aug 31, 2019 12:37am | Edited at 12:52am
  •  Goat
  • Joined Jan 2009 | Status: Member | 385 Posts
Quoting cryptocow
Disliked
{quote} Even if Ripple did have an ICO, calling Ripple an ICO is still wrong. No one refers to Ethereum as "an ICO", and no one refers to Filecoin as "an ICO", even though both of them had an ICO. It's like saying "Pier 1 is a Chapter 11" because you think they are about to file for bankruptcy. First off, saying "[any company] is a Chapter 11" sounds silly, and second, Pier 1 has not filed for bankruptcy. "Centralized" or mayyybe even "shitcoin" can be used to describe Ripple, but not ICO.
Ignored
If you listen to the crypto youtubers they use the term "ico" to mean any coin that is not mineable. It's not a precise term, and not everyone uses it the same, so debating that is kind of pointless. I've found the crypto industry has weird nomenclature all over the place, like how they call a broker like Binance an "exchange". Exchange my ass!

What is worth debating is the question... what is the nature of XRP? To those of us experienced in corporate governance, it looks and smells exactly like a security, which would mean they are illegally raising money from non-accredited investors. Just like the SEC has been saying. It's in the courts and I don't see how Ripple comes out of it alive. But who knows, wouldn't be the first time I underestimated the power of a sham.
  • Post #127
  • Quote
  • Aug 31, 2019 12:48am Aug 31, 2019 12:48am
  •  Goat
  • Joined Jan 2009 | Status: Member | 385 Posts
Quoting Hasher
Disliked
{quote} https://www.cryptocraft.com/news/943...sing-ripple-to As expected, they're using Ripple tech but not XRP. Still a win for them however.
Ignored
It's not even about the tech vs XRP. Ripple can't even get a bank to use the tech. Not beyond a beta test at least.

I'm waiting for the day I see a press release about Ripple on a bank's website. I thought your link was going to produce it, but it seems like the SBC statement is being pulled out of an obscure youtube video. Typical Ripple trickery.

Unless I'm missing it?
  • Post #128
  • Quote
  • Sep 6, 2019 12:58pm Sep 6, 2019 12:58pm
  •  g-force
  • Joined Oct 2016 | Status: Member | 226 Posts
Quoting Goat
Disliked
{quote} It's not even about the tech vs XRP. Ripple can't even get a bank to use the tech. Not beyond a beta test at least. I'm waiting for the day I see a press release about Ripple on a bank's website. I thought your link was going to produce it, but it seems like the SBC statement is being pulled out of an obscure youtube video. Typical Ripple trickery. Unless I'm missing it?
Ignored
Here is XRP vs BTC since your post.
Attached Image (click to enlarge)
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If you like my post :P throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • Post #129
  • Quote
  • Sep 23, 2019 8:06pm Sep 23, 2019 8:06pm
  •  cryptocow
  • | Joined Aug 2018 | Status: Member | 364 Posts
Quoting Goat
Disliked
{quote} If you listen to the crypto youtubers they use the term "ico" to mean any coin that is not mineable.
Ignored
I'm still waiting for a link to a video...

And even if some 12-year-old YouTuber calls Ripple an ICO that just means that he is an ill-informed idiot.
  • Post #130
  • Quote
  • Sep 23, 2019 8:07pm Sep 23, 2019 8:07pm
  •  cryptocow
  • | Joined Aug 2018 | Status: Member | 364 Posts
Quoting Goat
Disliked
What is worth debating is the question... what is the nature of XRP? To those of us experienced in corporate governance, it looks and smells exactly like a security, which would mean they are illegally raising money from non-accredited investors. Just like the SEC has been saying. It's in the courts and I don't see how Ripple comes out of it alive. But who knows, wouldn't be the...
Ignored
I got no debate there.

A security is still not an ICO.

  • Post #131
  • Quote
  • Sep 25, 2019 4:13am Sep 25, 2019 4:13am
  •  Goat
  • Joined Jan 2009 | Status: Member | 385 Posts
Since you're so hung up on the vocabulary Mr. Cow, why don't you give us your definition of an ICO? Then I can explain how you're wrong in a language you can understand.
  • Post #132
  • Quote
  • Sep 25, 2019 10:25am Sep 25, 2019 10:25am
  •  Hasher
  • Joined Jul 2019 | Status: Member | 246 Posts
Quoting Ziko9o8
Disliked
Next 16 cents XRP
Ignored
~24 cents now, 8 more to go!
  • Post #133
  • Quote
  • Sep 25, 2019 4:52pm Sep 25, 2019 4:52pm
  •  cryptocow
  • | Joined Aug 2018 | Status: Member | 364 Posts
Quoting Goat
Disliked
Since you're so hung up on the vocabulary Mr. Cow, why don't you give us your definition of an ICO? Then I can explain how you're wrong in a language you can understand.
Ignored
ICO = Initial Coin Offering

https://www.dictionary.com/e/acronyms/ico/
  • Post #134
  • Quote
  • Sep 25, 2019 5:36pm Sep 25, 2019 5:36pm
  •  Goat
  • Joined Jan 2009 | Status: Member | 385 Posts
Quoting cryptocow
Disliked
{quote} ICO = Initial Coin Offering https://www.dictionary.com/e/acronyms/ico/
Ignored
You think anybody needs the acronym spelled out?

Let be specific here Mr. Cow. By your definition...

Is an ICO an event that a coin has, or is it a type of coin?

If you define it as a coin: how can you tell precisely if a coin is an ICO or not?

If you define it as an event: how can you tell if a coin has had an ICO or not?
  • Post #135
  • Quote
  • Sep 26, 2019 5:07pm Sep 26, 2019 5:07pm
  •  cryptocow
  • | Joined Aug 2018 | Status: Member | 364 Posts
Quoting Goat
Disliked
{quote} You think anybody needs the acronym spelled out? Let be specific here Mr. Cow. By your definition... Is an ICO an event that a coin has, or is it a type of coin?
Ignored
An ICO is an event that a coin has.

Quoting Goat
Disliked
If you define it as an event: how can you tell if a coin has had an ICO or not?
Ignored
If the developers had a fundraiser before the launch of the coin to sell some premined coins. e.g:

Etherium. 72 million ETH was premined and sold via an ICO in 2014.
Filecoin. Filecoin is premining and selling 10% of all Filecoin tokens via their 2017 ICO.
Telegram Open Network: Telegram is premining and selling 44% of all TON via their 2018 ICO.
  • Post #136
  • Quote
  • Sep 27, 2019 2:20am Sep 27, 2019 2:20am
  •  Goat
  • Joined Jan 2009 | Status: Member | 385 Posts
Quoting cryptocow
Disliked
{quote} An ICO is an event that a coin has. {quote} If the developers had a fundraiser before the launch of the coin to sell some premined coins. e.g: Etherium. 72 million ETH was premined and sold via an ICO in 2014. Filecoin. Filecoin is premining and selling 10% of all Filecoin tokens via their 2017 ICO. Telegram Open Network: Telegram is premining and selling 44% of all TON via their 2018 ICO.
Ignored
Using your framework, an ICO is a sale of coins from the founders to the public, and what makes it special is that the transaction happens "before the launch" of the coin.

That begs the question, how do you define the "launch"?

This is an important point because if we remove the prior-to-launch condition, an ICO is no different than "selling the first coins", which every coin has done.
  • Post #137
  • Quote
  • Sep 27, 2019 6:28pm Sep 27, 2019 6:28pm
  •  cryptocow
  • | Joined Aug 2018 | Status: Member | 364 Posts
Quoting Goat
Disliked
Using your framework, an ICO is a sale of coins from the founders to the public
Ignored
No. It's a sale of a promise that some time in the future you will receive some coins.

After you invest in an ICO you get nothing in return except for a pinky promise that you will get some coins in the future.

Quoting Goat
Disliked
and what makes it special is that the transaction happens "before the launch" of the coin.
Ignored
Since the transaction is before the launch of the coin, you don't get any coins after you participate in an ICO. That's what makes ICOs super sketch.

Quoting Goat
Disliked
That begs the question, how do you define the "launch"?
Ignored
Can you get a coin from your wallet and send it to your buddy over the internet? If so, the coin is launched.

PM me your address and I'll send you a book.
1
  • Post #138
  • Quote
  • Edited at 2:31am Sep 28, 2019 2:19am | Edited at 2:31am
  •  Goat
  • Joined Jan 2009 | Status: Member | 385 Posts
Quoting cryptocow
Disliked
If the developers had a fundraiser before the launch of the coin to sell some premined coins.
Ignored
Quoting cryptocow
Disliked
No. It's a sale of a promise that some time in the future you will receive some coins.
Ignored
If the founder is only selling a promise, then why do the coins have to be premined?

Anyway.

You are defining an ICO as an event in which a coin's founders pre-sell the coins, already-mined or not.

Under that definition, I agree that Ripple is not an ICO. Ripple is a company, XRP is a coin, and neither is an event. Not sure why it took us 37 posts to hash that out, but it's probably because you're emotionally broken from all the ICOs you invested in.

Btw, the crypto community talks about ICOs as a coin. They blur the lines a lot, and refer to it as an event and a coin in the same breath, but rarely do you see somebody hold your strict definition.

Quoting cryptocow
Disliked
PM me your address and I'll send you a book.
Ignored
Thanks but I read that in 1998. I got one for you though that will blow your mind. What's the address of your mom's basement??
1
  • Post #139
  • Quote
  • Sep 30, 2019 2:42pm Sep 30, 2019 2:42pm
  •  cityRat
  • | Joined Jul 2019 | Status: Member | 214 Posts
Quoting cryptocow
Disliked
PM me your address and I'll send you a book.
Ignored
Quoting Goat
Disliked
Thanks but I read that in 1998. I got one for you though that will blow your mind. What's the address of your mom's basement??
Ignored
Attached Image

I'll send you both some DOGE if you keep this up!!
1
  • Post #140
  • Quote
  • Sep 30, 2019 6:25pm Sep 30, 2019 6:25pm
  •  cryptocow
  • | Joined Aug 2018 | Status: Member | 364 Posts
Quoting Goat
Disliked
Not sure why it took us 37 posts to hash that out
Ignored
This feels like the argument I had with my grandpa maaaany years ago over me calling both our old Sony Trinitron TV and an old CRT computer monitor "CRTs". My grandpa, bless his gentle and senile heart, refused to believe that both the TV and the computer monitor were CRTs. He was steadfast in his belief that the TV was "a damn TV" and the computer monitor was "the damn Computer".
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