Bitcoin Forum

Any newbies have an opinion on Ripple?

What are its strengths?

Weaknesses?

Major obstacles to success?

-ibuyXRP

Ripple address: rNnLFDCRrAtuESodmwamAasMBZqCmkqQH9

questions or to make an offer: ibuyXRP@gmail.com

i pay above market value -- i offer any currency with Bitstamp.net as the issuer.

 ??? Who are you?? Brand new since 2011 and now 6 post in one hour... about Ripple   :D :D

I dont think it will. There will be an initial surge due to the idea of a btc competitor but the fact that the currency is produced initially from Ripple, makes me question the longevity of it.

Greetings tbcoin,

Thank you for your reply.

Is it my real-world identity that you want?

Here is a basic description I gave in the whitelist section:
https://bitcointalk.org/index.php?topic=15911.msg1544856#msg1544856

Feel free to email me if you would like me to provide any specific information.

Best regards,

-ibuyXRP




--
ibuyXRP@gmail.com - i pay above market value, and i offer any currency issued by Bitstamp.net

XRP: rNnLFDCRrAtuESodmwamAasMBZqCmkqQH9

I sure hope so

cause apparently I have 50,000 xrp or something...what the heck does that mean and what do i do with it? anyone?

Don't worry, I just found it curious that after so long, ripple were your first comment.

Good luck ;)

Thank you tbcoin, best of luck to you as well. :)

Ripple Sleeper! D: Haha.

On topic, I think Ripple may not surpass Bitcoin, but it certainly could be a formidable rival to it.

Hi battman,

I will pay you bitcoin for XRP.

Feel free to send any questions, comments, or make me an offer via private message or email to: ibuyxrp@gmail.com

It's easy via Bitstamp, you can instantly withdraw the bitcoin that I pay to you, directly into your bitcoin wallet of choice.

We could start with a tiny amount if you just want to see how it works.

Best,

-ibuyXRP

you can definitely donate some to me rU3cgYfpu9jedq8GnW43ArEntsWTD6Sg4n to see if it really works, por favor.

lets have em

rpTM9CeykYE7SG82GEQoHt8QjMfgfxbgZS

XRP will succeed.

time will tell.

Hello battmann,

I received your private message, and I accept your offer.

I cannot reply directly at the moment (as they still have me on newbie status), but I should be able to in about 1.5 hours.

You asked about escrow -- it is built in to the Ripple system via Gateways: https://ripple.com/wiki/Gateway_List

I have already entered an offer into the Ripple system matching your offer.

Go to Advanced --> Trade, select "BTC/XRP", click "Buy BTC" (because you are buying bitcoins and selling XRP), enter the number of BTC you are buying, then the price (number XRP divided by number of BTC), place order, and confirm.

Then you will have the amount of BTC you wanted in your Ripple account, and you can immediately send the BTC to your Bitstamp account, and then immediately withdraw the BTC to any address of your choice.

Let me know if this is all making sense to you, or if anything is not clear.

Best,

-ibuyXRP

I still don't understand ripple.  I managed to get 50k from the give-away, but.  AFAIK, they're supposed to be kinda like stamps.  They made 10bil I think?  Which kinda bugs me.  Cos of the centralization.  But I don't understand ripple at all so I can't really make a judgment.

dunno where you get XRP from
rw65MQQDpWQYGxFEtcQk3r6dpeZ2gx5zff
???

I think Ripple is great. A lot of thought seems to have gone into the design and it supports a number of very cool features. I hope that it succeeds.

thanks whoever gave me 10,000 XRP !!! It works ::)

I think so too.  I hope you are right.

XRP: rMTicVYEmYoeZPmYBMnapj6ChthoHXaSZG

I'm not sure if it'll succeed, but after kicking myself for not getting in on the Bitcoin ground-floor, I most certainly got on board with Ripple as soon as I heard about it.

See? :) rfXhstYFQdteKxu3a1TdPf8fYCdt43UyvQ

A successful Ripple might well complement and not compromise Bitcoin anyway. Right?

Where is it currently used?

Pretty much nowhere, I think...  It's brand spankin new

Bitcoin will become a settlement network, where as ripple will become a clearing mechanism. Both are complements of each other. But since ripple deals with fiat, I am afraid governments will attempt to control ripple before they attempt control on bitcoin.

I'm still not clear on how they accomplish securing the ledger without mining...

I starting reading up on bitcoin at the start of this year and now can't stop myself from coming back to it. Think I have just about got my head around it, and then this ripple thing comes along to make my brain ache even more!

The thing that is bugging me about ripple is: What is there to stop me setting up my own gateway, operating honestly for a few months/years building up trust and then doing a runner one day, leaving a wake of creditors behind me?

I am well aware that I am probably missing a fundamental concept of ripple gateways here. I just don't know what it is yet  :)

Ideally, the community, the law, etc. You might also make more money by operating honestly.

In practice, this is *EXACTLY* what will be happening.

P.S. 10¹¹ XRP are currently valued at $39,000,000.

Following that thought... A gateway can go bankrupt for just operating a bad business and there is nothing to prevent that. The only gateway that would always be able to pay back USD is the Fed and the only gateway that would always be able to pay back EUR is the ECB. There is no gateway that would be able to pay back BTC with 100% security.

But we're already trusting the Fed and ECB as gateways in the current financial system, nothing new!

The real benefit of Ripple would be for potato5491 to issue potato-dollars and then we would all trust potato5491 as the gateway for potato-dollars.

Where are they getting the valuation of a "ripple" from? Is there an official number or link to find out?

I don't see Ripple as a competitor to bitcoin. It is more of a facilitator of bitcoin, it fills a separate niche in the economy. The other thing that might help is if you think of XRP more like postage stamps and less like a currency. Each transaction costs something like 0.000001 xrp, If I do about 3 transactions a day it would take me something like 100 years to use up one XRP. They are giving away bunches of 50000 xrp. I might be able to use the system my entire life without ever buying any more xrp, and still have a bunch left over.


There is a mechanism in the ripple client where you can exchange various currencies, and you can trade XRP/BTC.

If one forgets the hard complexity of ripple network (trusts, IOUs that work on a exchange, but not one the other, bugs, etc.), forgets the 100 billions XRPs, forgets that they pocket 20 billion, forgets the giving aways that will have to last for months... did I forget anything more?

I think there is a chance that it will succeed because I'm intrigued by it.

unfortunately, I was intrigued by Betamax too...

Thanks for the response Prattler. As time passes I am guessing there will come to be only a handful of gateways with "superbrands" that dominate the market. Then one of them will go very wrong. Very much like the handful of international banks we have at the moment I suppose.

Right, starting tomorrow I will begin issuing my potato dollars (PDO). There will only be 5491 of them, and they will not be divisible, so be quick!  :)

I think Ripple has the potential to fix a lot of the transactional flaws in Bitcoin.  It takes hours to confirm a Bitcoin transaction and the value fluctuates rapidly.  People can use Ripple to exchange BTC in a faster way while still using BTC as a store of value / unit of account.  Others can use Ripple as away to exchange fiat currency quickly and at essentially zero cost which is very valuable indeed.

Bitcoin is a store of value (scarcity / mining) and medium of exchange (transactions) while Ripple focuses on just being good as a medium of exchange using other stores of value. 

Ripple: rhWUBXH5F5VokNGkcgHt6YSMWnbVpQ7C3o

--gfuld

I think the guys buying thousands of ripples for .6 bit coins are the creators of ripple.  They've given themselves a ton of them.  And are now trading ripples for bitcoins to try to create a market for ripples to make it seem like they have a value.

Simmer down.

ripple ripple ripple ripple ???

I think XRP rate will rise, but then rate will fall slowly to 0.00

Consensus. See this StackExchange answer: http://bitcoin.stackexchange.com/a/7563/85