Get in on the digital currency boom with Ripple XRP

I’m up to 1,463 today. I’ve averaged about 52 a day over 28 days now. There’s been a few days I’ve had it running on two computers at once. I’m not sure how to interpret the “Work done for this project” at the bottom. My desktop (iMac with 8 gigs ram and 2.6 GHz i5) , which has been running almost constantly the whole time, shows 56523, but my laptop (MacBook Air), that has only run it maybe 5-6 days worth shows 57933. I have no idea what those numbers mean.

I’m running it on a spare HP Envy. I forget the specs at the moment (at work), but it was the top of the line when it was purchased a few year back. I’ll check. Maybe I’ll run it for a short period on my Air as well.

When I open Task Manager it shows it’s only using 2 or 3 gigs of ram (there’s 8 in total) and about 98% of the CPU. I believe it runs entirely on CPU and doesn’t involve GPU.

Maybe I should have a closer look at their website plus forum this weekend to get a better understanding.

I started a thread about Ripple this a few years ago.

Since then, a company has come in, rewritten the protocol and built much of the infrastructure for a new implementation. There are two main things they have added. The first is the concept of gateways. Gateways act somewhat like banks and mean people don’t need to set trust relationships with anybody other than a gateway. It soemwaht defeats its original purpose but I’m not opposed since it promotes adoption and I’m still able to use the system in the orginal way.

The second thing they have implemented is an anti-spam device in the form of a currency native to the system called ripples or XRP (notice the lower case r). So for every trust relationship established, a user needs to keep a number or ripples in a reserve. Also, for each transaction, a tiny, nominal amount of ripples are destroyed. Not enough for legitimate users to notice but enough to make DoS attacks and sock puppet account creation expensive.

The massive amounts of XRP that were initially created and held by Ripple Labs are also the way the company that created the system intends to make its (and its backers’) money back. Because a small amount of XRP is required to use the network, it has value and after the company has finished bootstrapping and popularising the network with giveaways like the WCG scheme, they will sell the rest.

There is far too much emphasis on XRP as a competitor of Bitcoin. I have always thought people should use it as merely an anti-spam device and conduct transactions in other currencies. XRP is a trivial part of the system. The really interesting part is the protocol and the infrastructure which makes Ripple an alternative to banks, not Bitcoin.

Can anyone tell me about something they have profitably done with this currency? I mean, other than watching a number get bigger. How did you spend it, and on what?

I know nothing about “ripple” or “bitcoin” - but I do know that starting just last week, two casinos in Downtown Las Vegas (not The Strip) have started to accept bitcoins to pay for rooms. You can’t use bitcoins to gamble though.

I transferred money to PIA for VPN service using Ripple. I now mostly use it to maintain accounts with customers who, for various reasons, I sometimes also buy stuff from. It means we have to settle up with cash a little less often. I’ve also inadvertently profited from exchange volatility although I’ve never been in it for speculation purposes.


the Computing for Good project is over. Any other projects giving out XRPs?

I don’t know, but the value of XRP has plummeted since I started. At one point they were around 3-3 1/2 cents each. Today they’re at a little over half a cent.

XRP is really climbing right now. I have some because of this thread. It’s been my only real involvement with any cryptocurrency, I almost forgot about it but heard something in the news, checked on my balance, and it’s worth over $1000 right now.

Thought anyone who participated in this would like to know…

I managed to find my secret key, and set up an account on GateHub. I have over 4000 XRP, but I can’t get past the phone verification. The first few times I never received an SMS. I tried using Authy on my phone according to their instructions, but that didn’t work either. Now if I try to verify I get “Phone verification error. Please submit a support request.” That only results in a robo email telling me to do everything I’ve already done. It says my phone needs to be able to receive SMS messages from abroad, but that’s something I have no control over and no way to check. Any suggestions on how I can get access to my money?

I am by no means an expert at any of this I just fumbled around with it as an experiment to try out the whole cryptocurrency thing and for the chance to maybe make some money. That said, do you have a Google Voice number? That is what I used instead of my actual cell to get the verification code, and I was able to receive it that way.

It is also my understanding (but again I’m not expert) you don’t have to have the Gatehub account to have access to your XRP, relevant article:

Also WOW Ripple just passed the $1 mark today!

you can’t spend it. it’s not currency. The best you can do is convert it back to real money like USD (or GBP in your case.)

it’s a frickin’ speculative bubble like every other *coin.

here’s a hint- when people advise only to get into it with money you can afford to lose, don’t. 'cos there’s another place people give that advice about- the casino.

at least when you blow money at a casino you get to look at some flashing lights and maybe a free drink or two.

I have a Google Voice number, and I tried it. It didn’t work. Poking around in Google’s help I saw that Google voice cannot send or receive international SMS messages “at this time”. I’ll look into the article you linked.