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Title: Can Ripple ever be traded like BTC? Post by: Quicker_777 on July 14, 2013, 04:30:51 AM I have a sneaking suspicion that this topic will cause some flaming, but I'm just curious what people think. If, and that's a big if, the code is released and 1) it is opensource, and 2) it is truly distributed, then I'm wondering what the potential is here. Probably pretty major.
Although I will say this much - good luck trying to explain the "trust" concepts to the ordinary user. Its difficult enough trying to explain Bitcoin to people. Title: Re: Can Ripple ever be traded like BTC? Post by: pheaonix on July 14, 2013, 07:44:39 AM i trade it like bitcoin
:D buying ripple Title: Re: Can Ripple ever be traded like BTC? Post by: Taccomc on July 14, 2013, 07:52:02 AM I am long ripple, I think it has great potential and am buying and holding. I don't see it ever hitting $25-$100 range but if xrp ever hits a dollar I will be happy.......and rich!
Title: Re: Can Ripple ever be traded like BTC? Post by: QuantPlus on July 14, 2013, 01:25:01 PM I have a sneaking suspicion that this topic will cause some flaming, but I'm just curious what people think. If, and that's a big if, the code is released and 1) it is opensource, and 2) it is truly distributed, then I'm wondering what the potential is here. Probably pretty major. Although I will say this much - good luck trying to explain the "trust" concepts to the ordinary user. Its difficult enough trying to explain Bitcoin to people. It does trade exactly like BTC... through the Ripple client. It's as if the Bitcoin Client had a built-in exchange... But people were just too lazy to find it. You go to "Advanced", then "Trade", select "XRP/BTC" or "XRP/USD"... Then set Bitstamp as issuer (plus you need Bitstamp account and Bitstamp Trust Line)... And trade away. But the above is waaaay too complicated for the average Bitcoin Hipster... And you can forget about Grandma... which is the real market = Western Union. OpenCoin completely overestimated the intelligence of your average crypto user... And made Ripple too complicated at the Client level. Title: Re: Can Ripple ever be traded like BTC? Post by: pheaonix on July 14, 2013, 01:33:07 PM naw they just didn't explain things well at all, and how their software functions.
it is crashing right now though, so i will take them off your hands for good old rising bitcoin Title: Re: Can Ripple ever be traded like BTC? Post by: mmeijeri on July 14, 2013, 01:34:34 PM Although I will say this much - good luck trying to explain the "trust" concepts to the ordinary user. Its difficult enough trying to explain Bitcoin to people. Actually, trust is very simple, everyone has to deal with it when using a bank or a Bitcoin exchange. What's revolutionary in Ripple is that it makes the trust explicit, by separating riskless exchange of IOUs from risk bearing issuing and redemption of those IOUs for fiat currency, and handing end users control over how much risk they are willing to accept. It's enormously empowering. |