You gotta have faith...
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
Shit I forgot i had that gunbot
I got one and have no clue how to use it. I have a mac
https://www.tradingview.com/chart/XRPBTC/4sFOB8Ma-Ripple-ain-t-a-cripple/
from the link:
Few news/updates :
1 - Monday, Coinone (biggest korean exchange) is listing xrp. And is removing buying fees on XRP.
2 - Sometime next week, Bitbank (chinese coinbase) is listing xrp as well.
3 - Ripple is probably gonna announce soon most likely at their 2017 consensus (May 22-24, 2017) that they will freeze the 61.6 Billions coins which are not in the market.
4 - Ripple network updates allow the protocol to process as many transactions as Visa in the same time span, but at much cheaper cost
5 - This one needs to taken with cautious but there is rumors about Coinbase adding XRP as well in a near future.
XRP value went up by a lot lately and lot of people seems to think there is a need for a price correction.
But imo, XRP is not even at the price it needs to be. Low price means more volatility and that's something they don't want.
This is not a trading advice, just a personal TA and opinion.
Please feel free to comment and let me know what you think.
Trade safe.
from the link:
Few news/updates :
1 - Monday, Coinone (biggest korean exchange) is listing xrp. And is removing buying fees on XRP.
2 - Sometime next week, Bitbank (chinese coinbase) is listing xrp as well.
3 - Ripple is probably gonna announce soon most likely at their 2017 consensus (May 22-24, 2017) that they will freeze the 61.6 Billions coins which are not in the market.
4 - Ripple network updates allow the protocol to process as many transactions as Visa in the same time span, but at much cheaper cost
5 - This one needs to taken with cautious but there is rumors about Coinbase adding XRP as well in a near future.
XRP value went up by a lot lately and lot of people seems to think there is a need for a price correction.
But imo, XRP is not even at the price it needs to be. Low price means more volatility and that's something they don't want.
This is not a trading advice, just a personal TA and opinion.
Please feel free to comment and let me know what you think.
Trade safe.
What price is he thinking for XRP?
He didn't mention, just saying what the news is coming up.
Li
I can only take his last point as higher and thats a great thing for us. Its going to be an interesting summer.
Correct me if I'm wrong but I don't know how this will help the price of XRP if the coins are not in the part of the circulating supply.
Only thing I see this action doing is providing confidence that Ripple is a stable entity and not a hoax. This may drive a buying rally but not anything that much more substantial that what we have seen.
Thoughts?
Ok i'm confused. Isn't there only like 37b circulating? If they are cutting whats not in the market, how would that affect what's in the market? And more importantly, raise the price for us?
Finance isn't my background but wouldn't having less XRP in circulation make the coins that are out there more valuable???
Yes, but they are talking about supply not in the market
Ripple Unveils Strategy to ‘Become More Decentralized than Bitcoin’
Samburaj Das on 11/05/2017
Prominent FinTech payments firm Ripple has announced a strategy that it believes will ultimately make its blockchain more decentralized than Bitcoin.
Ripple’s technology chief Stefan Thomas has revealed a three-point strategy toward making Ripple’s blockchain, the Ripple Consensus Ledger (RCL), more secure, efficient and decentralized than Bitcoin.
In a blog published today, Thomas stated:
A key benchmark that we aim to achieve is to become more decentralized than Bitcoin, which at the time of writing is 51% controlled by just five mining pools. This means the largest five pools working together could achieve a 51% attack and reverse transactions (double spend) at will. For Ethereum, this number is even lower: only three pools are needed for a takeover.
Created in 2012, the RCL was developed as an enterprise-ready public blockchain – in contrast to bitcoin – geared for banks and payment providers to process cross-border payments. The RCL also serves as the root ledger for XRP, Ripple’s native digital asset.
Ripple has fielded criticism from the crypto community since its release, with the most common accusation of being a centralized network.
For its part, the decentralization of the Ripple blockchain was a process that began ‘right at its inception’, according to Thomas. “We intentionally haven’t rushed the process and have been making continuous progress all along.”
The path toward decentralization is now a priority, as Ripple ropes in more customers in banks and payment providers around the world, underlining the need to diversify the validator nodes to form a more robust and resilient blockchain.
The strategy involves three fundamental steps.
First, is Ripple’s foray to diversify the validator nodes on the blockchain. “Today, RCL has 25 validator nodes running, but continuing to grow and diversify this list of recommended validator operators is a priority for us,” wrote Thomas. The ultimate aim is to further avoid the risk of a single point of failure, with diversification of nodes across several geographical locations and software platforms.
Secondly, Ripple will recruit attested validators to the network. It will monitor new validators joining the current set of 25 nodes, checking their performance on “consensus agreement rate, uptime, verification of identity and public attestation.”
Finally, Ripple will add attested validators to its Unique Node Lists (UNLs). A UNL is a list of transaction validator nodes that are seen as ‘trusted’ validating nodes operated by Ripple. The company’s plan is to phase out the nodes it controls, replacing them with attested third-party validators until no single operator controls a majority of trusted nodes on the blockchain.
“Over the course of the next 18 months, for every two attested third-party validating nodes that meet the objective criteria mentioned above, we will remove one validating node operated by Ripple, until no entity operates a majority of trusted nodes on the RCL,” Thomas revealed.
He further stated:
To match Bitcoin, RCL would need just 16 trusted validators. Add more, and the number of tolerable faults increases accordingly. In other words, RCL will not just meet, but exceed the decentralization level of other public blockchains.
The Ripple executive also contends that Ripple has the upper hand on Bitcoin due to the way the blockchains reach consensus. Thomas claimed that Ripple validators are less likely to be malicious or attacked successfully since they are chosen on ‘merit’. Unlike Bitcoin validators, chosen based on their proof-of-work (PoW) mining.
“Bitcoin chooses validators solely based on their mining power, which actually deincentivizes security,” Thomas wrote. “Security measures cost money, but don’t improve on the speed of mining.”
Earlier this year, Ripple laid claim to match the transaction output of Visa, the world’s largest payments network with 70k transactions at an average time of 3.7 seconds.
Featured image from Shutterstock.
Samburaj Das on 11/05/2017
Prominent FinTech payments firm Ripple has announced a strategy that it believes will ultimately make its blockchain more decentralized than Bitcoin.
Ripple’s technology chief Stefan Thomas has revealed a three-point strategy toward making Ripple’s blockchain, the Ripple Consensus Ledger (RCL), more secure, efficient and decentralized than Bitcoin.
In a blog published today, Thomas stated:
A key benchmark that we aim to achieve is to become more decentralized than Bitcoin, which at the time of writing is 51% controlled by just five mining pools. This means the largest five pools working together could achieve a 51% attack and reverse transactions (double spend) at will. For Ethereum, this number is even lower: only three pools are needed for a takeover.
Created in 2012, the RCL was developed as an enterprise-ready public blockchain – in contrast to bitcoin – geared for banks and payment providers to process cross-border payments. The RCL also serves as the root ledger for XRP, Ripple’s native digital asset.
Ripple has fielded criticism from the crypto community since its release, with the most common accusation of being a centralized network.
For its part, the decentralization of the Ripple blockchain was a process that began ‘right at its inception’, according to Thomas. “We intentionally haven’t rushed the process and have been making continuous progress all along.”
The path toward decentralization is now a priority, as Ripple ropes in more customers in banks and payment providers around the world, underlining the need to diversify the validator nodes to form a more robust and resilient blockchain.
The strategy involves three fundamental steps.
First, is Ripple’s foray to diversify the validator nodes on the blockchain. “Today, RCL has 25 validator nodes running, but continuing to grow and diversify this list of recommended validator operators is a priority for us,” wrote Thomas. The ultimate aim is to further avoid the risk of a single point of failure, with diversification of nodes across several geographical locations and software platforms.
Secondly, Ripple will recruit attested validators to the network. It will monitor new validators joining the current set of 25 nodes, checking their performance on “consensus agreement rate, uptime, verification of identity and public attestation.”
Finally, Ripple will add attested validators to its Unique Node Lists (UNLs). A UNL is a list of transaction validator nodes that are seen as ‘trusted’ validating nodes operated by Ripple. The company’s plan is to phase out the nodes it controls, replacing them with attested third-party validators until no single operator controls a majority of trusted nodes on the blockchain.
“Over the course of the next 18 months, for every two attested third-party validating nodes that meet the objective criteria mentioned above, we will remove one validating node operated by Ripple, until no entity operates a majority of trusted nodes on the RCL,” Thomas revealed.
He further stated:
To match Bitcoin, RCL would need just 16 trusted validators. Add more, and the number of tolerable faults increases accordingly. In other words, RCL will not just meet, but exceed the decentralization level of other public blockchains.
The Ripple executive also contends that Ripple has the upper hand on Bitcoin due to the way the blockchains reach consensus. Thomas claimed that Ripple validators are less likely to be malicious or attacked successfully since they are chosen on ‘merit’. Unlike Bitcoin validators, chosen based on their proof-of-work (PoW) mining.
“Bitcoin chooses validators solely based on their mining power, which actually deincentivizes security,” Thomas wrote. “Security measures cost money, but don’t improve on the speed of mining.”
Earlier this year, Ripple laid claim to match the transaction output of Visa, the world’s largest payments network with 70k transactions at an average time of 3.7 seconds.
Featured image from Shutterstock.
Markets are 100% driven by fear and greed, by eliminating the fear of 66 billion coins flooding the market you increase the investors confidence in the future of the coin and company, which equals investors investing more, along with more news being released about the competence of the Ripple Labs Company that is administering the currency. Everything pointing to a safer investment meaning more money will flow into Ripple Investments. Your assumption is correct but there is no way to gauge how many people havent invested due to the fact there is this huge supply of coins that could be dumped into the market at any point.
I've never heard of a lock in affecting non tangible propertiesI see everybody's got the same concerns
increase scarcity of XRP . increase of price. add to that tremendous demand XRP goes up. add to that the announcement of the lockup at consensus 2017 will also create more demand.
you do it everyday but call it your identity. all crypto is truly....just information. secure it and put it away = no access.
Again though, the article is talking about them killing Non circulating supply. That's where we're bugging at
Yo, if this is legit, XRP being $100 is going to seem like a bargain
You can try to get him on telegram @GuntharDenNiro / the group on telegram is TheBotFather or go to the forum https://gunthy.org/
A lot of you asking about gunbot can find all the info you need on his forum too.
STR news for those interested
http://www.nasdaq.com/article/stell...form-lightyear-launches-from-stealth-cm788023
http://www.nasdaq.com/article/stell...form-lightyear-launches-from-stealth-cm788023
So if they "kill" this non circulating supply. That means what is out there in circulation will be worth more since they aren't making any more soon right?
It's not the bot, it's Poloniex, everyone is seeing the 422 and 429 errors. They are getting hit with new users and DDOS attacks for 2-3 days. It's sporadic.
Yes. Driving it up with more scarcity. The whole time, people were hesitant because the company can keep trickling it out over time.
Damn good thing I got 10k during the last dump for cheap.
Gotta try for 100k because even if this ain't XRP they getting major attention.
Yeah but @ 37 billion how much could it really expand? You look at coinmarketcap.com and you'll see any coin over $1 doesn't have a circulation over 1 billion. Again this is new territory for me and I admit don't fully understand everything, but I know how to spot trends.
I was under the assumption the supplies being dumped were the ones in circulation, not out. If someone has clear insight to this, please school me. Thanks
I am at 77k with 30k on order
when coins soar fast the rates go up. No big demand just yet
Yeah that's how it's suppose to work. The issue is, that even killing that, there is still 37 billion out there and that's a lot. I didn't even know about ones not circulating
If Ripple is able to wipe out the SWIFT banking system I could see ripple end up higher then most expectations, However availability doesn't equal coin prices, So the fact that there is 37 billion coins doesnt really matter, It is the perceived value that drives the price. Take for instance this year bitcoin has went from 700-1800 more then doubling in price however the bitcoin supply has barely increased at all. The price has went up based on perceived value. With Ripple the major factors in pricing will be how much perceived value do the banks place on XRP when they start utilizing it. Alot of the banks that have signed on are only in the early phases of implementing the Ripple System and not actually using it. Once the banks start utilizing the Ripple Ledger and XRP the amount of XRP transacted will be 1000's of times more volume then all the Ripple trading combined today. The bank system is the behemoth that will determine Ripples price. What investors and speculators are doing today in regards to Ripples price rising should be considered a drop in the bucket compared to what a national bank or multiple big name banks will be able to achieve. I would think that the price will sharply rise somewhere between 10-30 dollars once banks begin transacting. Then we may level off. I would expect to see this within 18 months. Anything after that is too much in play.
keep hope alive my bredren. keep hope alive...
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