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Ripple as a crypto

  • #101
  • Aug 2, 2019 10:14am Aug 2, 2019 10:14am
Quoting Eur Usd
About 6 years ago my mate asked me what do I think about Bitcoin and is it worth investing in it. It costed less than 1$ then. I told him it's some sort of bullshit, not worth attention. Then when few yrs later Bitcoin has hit $1000 and dropped down drastically, I thought - well, this is it, the bubble has burst. The bubble has hit 20k this month. So I thought, at this price level it is not worth to buy anymore, as maybe it will go up, and maybe it won't, but maybe there is alternative. So I chose Ripple. Bought it two days ago, invested 200 Pounds...
I bought £500 worth when it was at 32p a month or so ago, it's dropped a bit now but I'm happy to hold it for a year or two and see where it goes. Definitely a lottery in my opinion though.
  • #102
  • Aug 2, 2019 11:36am Aug 2, 2019 11:36am
Still miffed about having 20 XRP locked away in some crappy wallet due to the minimum reserve
  • #103
  • Aug 2, 2019 12:16pm Aug 2, 2019 12:16pm
Quoting Hasher
Still miffed about having 20 XRP locked away in some crappy wallet due to the minimum reserve
minimum reserve?
  • #104
  • Aug 2, 2019 2:26pm Aug 2, 2019 2:26pm
Quoting cityRat
{quote} minimum reserve?
Its to avoid transaction spam (so they say!): https://xrpl.org/reserves.html

If ya got 50 XRP you can only send 30 away until they lower the reserve.
  • #105
  • Aug 2, 2019 5:21pm Aug 2, 2019 5:21pm
XRP has been doing a whole lotta nothing in the last 48 hours while BTC has been $$$:

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  • #106
  • Aug 2, 2019 5:53pm Aug 2, 2019 5:53pm
Ripple is not a crypto! It just masquerades as one!

A real crypto, like BTC, LTC, ETH, etc, is controlled collectively by the miners. Aka decentralization.

A fake crypto like XRP, commonly referred to as an "Ico", is controlled by a single entity. Ripple Inc can do whatever they want with XRP. They control the network, the volumes, and since they hold most of the coins, they control the price itself!

Ripple Inc. is to XPR what the Federal Reserve is to the USD. If you trust Ripple Inc to be your Fed, then XRP is for you. Otherwise, stay away from this scam!

Quoting Hasher
Still miffed about having 20 XRP locked away in some crappy wallet due to the minimum reserve
Wow, they got some balls to pull a stunt like that!! I don't know how the hell they are getting away with this whole charade, even with their billions in VC money.

And while some bullshit like this could theoretically happen with BTC, it would require all of the miners to agree on it (which obviously would never happen). The safety of BTC is that you know the miners will always act in their own best interest, and your best interest is tied to theirs. It's a beautiful thing.
  • #107
  • Aug 2, 2019 6:14pm Aug 2, 2019 6:14pm
Quoting cryptocow
XRP has been doing a whole lotta nothing in the last 48 hours while BTC has been $$$: {image}
Crypto Craft has these fake ico prices but not DOGE?!?
  • #108
  • Aug 2, 2019 10:15pm Aug 2, 2019 10:15pm
Quoting Hasher
{quote} Its to avoid transaction spam (so they say!): https://xrpl.org/reserves.html If ya got 50 XRP you can only send 30 away until they lower the reserve.
I thought it was because some are consumed in every transaction. Guess it's because whatever they want..
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #109
  • Edited 10:30pm Aug 2, 2019 10:19pm | Edited 10:30pm
Quoting Goat
A fake crypto like XRP, commonly referred to as an "Ico", is controlled by a single entity. Ripple Inc can do whatever they want with XRP. They control the network, the volumes, and since they hold most of the coins, they control the price itself!
Agreed this is what bothers me too, the XRP Ledger Consensus Protocol. It is best to stick to a list like this when looking for crypto: cryptoslate.com/cryptos/proof-of-work

Instead of XRP it should be "RLP": Ripple labs Loyalty Points.

Quoting Goat
{quote} Crypto Craft has these fake ico prices but not DOGE?!?
I will say XRP is easier to trade
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #110
  • Aug 3, 2019 3:44am Aug 3, 2019 3:44am
Quoting Goat
Ripple is not a crypto! It just masquerades as one! A real crypto, like BTC, LTC, ETH, etc, is controlled collectively by the miners. Aka decentralization. A fake crypto like XRP, commonly referred to as an "Ico", is controlled by a single entity. Ripple Inc can do whatever they want with XRP. They control the network, the volumes, and since they hold most of the coins, they control the price itself! Ripple Inc. is to XPR what the Federal Reserve is to the USD. If you trust Ripple Inc to be your Fed, then XRP is for you. Otherwise, stay away from...
Who is controlling Ripple?
  • #111
  • Aug 3, 2019 5:05am Aug 3, 2019 5:05am
Ripple is controlled by the CEO Brad Garlinghouse:

https://twitter.com/search?q=Brad%20...rc=typed_query

Sixer

Edit:
Ripple CEO Tells Congress to Avoid XRP From Facebook Libra Smear

https://www.ccn.com/news/ripple-ceo-...medium=twitter
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  • #112
  • Aug 3, 2019 5:40am Aug 3, 2019 5:40am
XRPUSD at 90.
  • #113
  • Aug 5, 2019 10:08am Aug 5, 2019 10:08am
Quoting Goat
A fake crypto like XRP, commonly referred to as an "Ico", is controlled by a single entity.
Where did you hear that Ripple is referred to as an Initial Coin Offering? I've never heard this before.
  • #114
  • Aug 5, 2019 3:07pm Aug 5, 2019 3:07pm
Quoting cryptocow
{quote} Where did you hear that Ripple is referred to as an Initial Coin Offering? I've never heard this before.
Ico is not a technical term... people use it generally to describe coins that are controlled by a single entity. And that's exactly what XRP is!

Go to hand it to them though, Ripple Inc has a hell of a PR effort going on. Their CEO is talking to the media every time something interesting happens in the crypto markets. No wonder people are conflating XPR with real cryptos!

Quoting g-force
Instead of XRP it should be "RLP": Ripple labs Loyalty Points.
Best line in this thread.
  • #115
  • Aug 5, 2019 4:46pm Aug 5, 2019 4:46pm
Quoting asgcorp
XRPUSD at 90.
Don't hold your breath
  • #116
  • Aug 5, 2019 4:50pm Aug 5, 2019 4:50pm
Quoting Goat
{quote} Ico is not a technical term... people use it generally to describe coins that are controlled by a single entity.
Where have you heard this then? I've never heard anyone refer to a coin as an "Ico".
  • #117
  • Aug 8, 2019 10:10pm Aug 8, 2019 10:10pm
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  • #118
  • Edited 10:28pm Aug 8, 2019 10:12pm | Edited 10:28pm
Quoting cryptocow
I've never heard anyone refer to a coin as an "Ico".
It's a thing: https://en.wikipedia.org/wiki/Initial_coin_offering

The crypto market is full of misnomers, and you could argue that Ripple is not technically an ico based on some unimportant detail, but it fits the bill on the most important aspect... it's controlled by a company.

Icos remind me of Chuck E Cheese tickets.
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  • #119
  • Aug 9, 2019 10:05am Aug 9, 2019 10:05am
Quoting Goat
{quote} It's a thing: https://en.wikipedia.org/wiki/Initial_coin_offering The crypto market is full of misnomers, and you could argue that Ripple is not technically an ico based on some unimportant detail, but it fits the bill on the most important aspect... it's controlled by a company. Icos remind me of Chuck E Cheese tickets. {image}
I thought "Ico" does not stand for "Initial Coin Offering"...

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Isn't saying Ripple is an ICO a bit like saying Publix is an IPO?

Publix is a huge, private, grocery store. They issue Chuck E. Cheese tokens to employees. But they have never had an IPO.

Ripple Inc. is a huge, private, corporation. They issue Chuck E. Cheese tokens in the form of XRP. They have never had an ICO (or an IPO).
  • #120
  • Aug 9, 2019 9:34pm Aug 9, 2019 9:34pm
Quoting cryptocow
{quote} I thought "Ico" does not stand for "Initial Coin Offering"... {image} Isn't saying Ripple is an ICO a bit like saying Publix is an IPO? Publix is a huge, private, grocery store. They issue Chuck E. Cheese tokens to employees. But they have never had an IPO. Ripple Inc. is a huge, private, corporation. They issue Chuck E. Cheese tokens in the form of XRP. They have never had an ICO (or an IPO).
That's a pretty intelligent analogy Mr. Cow, but I can tell you're new to these here markets. It would take me all night to explain why this is not a useful way to view it.

What are you getting at with the Ico thing though? Are you interested in the semantics, or trying to understand how Ripple is structured?
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