Bitcoin Forum

Hello,

I'm looking to learn more about ripple, how it can interface with bitcoin, but I'm especially interested in getting started. I'm limited now by not having any ripples to start. Any tips on buying in or getting a loan? I havent had much luck so far :(

Thanks for any help,
Mike

+1
ive been looking for an easy way to trade btc for ripple but havent found one.

Bitstamp

And to get a few ripples in your wallet to make the transfer, you need to start begging for them on forums. Lame, I know.

thanks hahdouken

i tried transferring from bitstamp but i need to trust their address first. Cant trust without the first 300 or so RPX.

I guess thats where the begging comes in?

Know of any good cardboard boxes I could use?

You can post a reply in https://bitcointalk.org/index.php?topic=145506.0

Someone from Ripple will give you thousands of XRP

great tip will do that as soon as I get rid of my  ::) newbie status

I don't understand the purpose of limiting the giveaway of XRP by Bitcoin Forum account age?!

It sounds interesting...

They have a limited number of coins, as bitcoin mining the reward is smaller over time

Ripple is intriguing, but hard to get my brain around as a newbie...

Of course but why the discrimination?

The easiest way to get USD funds into Ripple wallett without wiring funds to a foreign bank is via Coinbase. You can link your USD bank account to coinbase, send USD to your bitcoin wallett in turn send it to bitstamp and then to ripple. This has been the simplest way for me to do this without dealing with any foreign banking institutions.

To prevent people from registering dozens of new accounts.

Why would you trade BTC for Ripples when they still have 75 bn Ripples to give away for free?:P

Some probably want to speculate that once they give them all away, the price will go up but the can always issue more Ripples once they have given them all away -- thats the kicker with a centralized currency ;)

In my opinion this does not qualify as a valid argument as there is a captcha challenge in the account registration process as well the newbie restriction protocol (5posts + 4h login time). So the accumulation in this way seems to be impractical.

I think the question remains: Why the newbies vs. veterans discrimination?

I don't understand why they're giving it away for free? Is it simply to get it started?

Yes that should be the only reason - to create as wide a user-base as possible.

Keeping the exchange rate from going through the roof could be another reason. A virtual currency is useless as a payment mechanism if it is very volatile.

I'm curious to understand the reasoning behind making XRP a fixed money supply. From my own understanding, it seems that monetary policy needs to be somewhat elastic in order to keep inflation in check. From what I have read, Ripples are limited to a supply of 100 billion. Right now that seems like a huge number, but as we've seen with Bitcoin there is a lot of room for digital currency to grow. Where did the 100 billion number come from?

Perhaps, but being bit more centralized has some advantages also. Ie it doesnt require mining which of course wastes a lot of resources. And perhaps large masses find it easier to understand.

Signed up for a Ripple account. I'm very supportive of something like it finding success among a wide user base. International transfers need to be cheaper.

I found the Bitcoin concept way easier to understand:P The "trust" part is gonna be pretty confusing, why not just let people rank the "nodes" like they do on EBay instead.

ripples do not have enough people backing it up.  They are the law to an extent and if they can give out free ripples then the concept of what is a publicly controlled amount of coins is now void. 

It actually came mostly from technical requirements of the software design. We wanted to use 64-bit integers for XRP balances and we wanted XRP to be divided into at least millionths. There are various reasons to limit the range to less such as being able to sum XRP balances inside a 64-bit integer without having to check for overflow. We also wanted a round number that was easy to remember. Otherwise, the larger the better made sense so that you could have as many units of currency as possible to reduce the chances that a change would be needed to increase divisibility.

Thanks for explanation guys, going to check it out now.

Hard to imagine XPR will be anything more than a novelty.  The secret to BitCoin are two fold, there is no central control and there aren't so many outstanding.

ugh i hate the 300 xrp requirement thing

Once the source code is released and new servers start popping up all over the place Ripple will be as distributed as Bitcoin. And since it is quicker and can be used to make convenient fiat payments it could see much faster adoption. If it is true that OpenCoin intends to stabilise the value of the XRP, this too will help its adoption.

As far the number of coins, XRP too has a fixed, finite supply, just like BTC. And, again as with BTC, not all of them are in circulation. BTC issues them as a reward for mining, XRP is premined and given away to new users.

Which in the future, if ripple catches on will make them very valuable.

The idea of Ripple seems indeed very nice !

Yes indeed :)
Get some free here to start : http://www.reddit.com/r/ripplers/comments/1cc9d0/im_giving_away_300_xrp_to_50_people/

I don't understand Ripples, if they have already been created then how are the transactions processed if there is no block mining to attach them to?

I would like to buy 10000 XRP for 0.1 BTC!
I need it for testing and app development!
Anybody willing to trade?

Just send the 10000 XRP to the following address:
rBhS13DTq3SdA7kqoVKJPa1iYXez1rtTie

Don't forget to tell me your bitcoin address!
I will send you the 0.1 BTC as soon as possible!

Thanks in advance!

Ripple uses consensus to prevent double spends and validate transactions rather than proof of work.

"Think of a room full of people who all agree with each other. To enter the room, you must agree with them. To disagree with them, you must leave the room. They all sit in this room maintaining continuous agreement on everything. Each of them who is honest puts their first priority on enforcing the rules of the room, their second priority on maintaining agreement with everyone who is also willing to follow the rules, and their third priority on accepting legitimate transactions provided they don't violate the first two rules. The rules of the room make it infeasible to agree to a transaction once a conflicting transaction has been agreed to -- such an agreement cannot be formed and be valid according to the rules."