Bitcoin Forum

What is Ripple and where did they get so much money?.. robbed some central banks? ;D

It's a scamcoin: http://ripplescam.org/ http://bitcoin.stackexchange.com/questions/11172/is-ripple-a-scam

but the purpose of the coin is really good to support scientific computing, and website is nice  ;)

It's a scam.

Oh well, if the website is nice it must be legit  :D

I don't like it. It's justy the opposite of what coinfans are looking for; it's centralized, you have to register, the coin is 100% premined...etc. Rubbish for me, it's just a bunch of rich guys who try to make a lot of money, I guess.

scam


------------------------
from Brazil (http://www.youtube.com/watch?v=1hKCtaKGjTQ).
No, I'm not going to the world cup (http://www.youtube.com/watch?v=ZApBgNQgKPU).

There is a lot of confusion because ripple is both a payment network (that can handle all sorts of coins) as well as a currency, called ripples, that is used as a stamp on that transaction network.

Ripple is not mined like most cryptos, rather it was all created at once and held by the foundation.  Since this is essentially a "premined" type situation many assert it is a scam.  Ripples skyrocketed in value for awhile but has since fallen back.

Good Luck!

Also Ripple is centralized and all Ripples premined.
I still dont know why Ripple could be usefull for something

Agreed, I don't know who would use ripple necessarily but there probably is someone on this forum that uses it, they should probably explain what they use it for.

Not fond of ripple at all, it somehow doesn't fit in to what crypto really is!

 >:(

Ripple is not a coin, it's a marketplace and a distributed exchange.
Its main purpose (as I see it) is to enable people to trade different currencies, even when currency pairs are not directly traded on a centralized exchange. As such it has a function that is not as easily fulfilled by the current system of bitcoin and exchanges.

To dispel some FUD:
- You don't have to register to use it. Just like with Bitcoin, you create an wallet with a private and public key. The standard client does not support managing multiple addresses as easily as the bitcoin client does, though.
- Ripple's design is to be decentralized. It is currently still in a development phase, and most servers are operated by Ripple Labs, but as external servers connect to the network, it becomes less dependent on a single organization.
- XRP (the currency used internally for "transaction fees") has been pre-generated, and Ripple Labs intends to make money off that. But since XRP is not mined, the concept of "pre-mined" does not make much sense.
- The "rippling" mechanism where currency can flow "through" an account is often misunderstood and misrepresented by folks who are antagonistic to Ripple. Rippling only happens when you trust two different issuers for the same currency, and it can only have negative effects when one of those issuers is not trustworthy.

Onkel Paul

I still no understand what is Ripple!!!

 >:(

...

ok
better

Yep ripple is a scam coin!!!!

Uhm what?

The value of XRP is derived on the open market, just like BTC (who also change in value even if you don't move them).

Somehow the signal/noise ratio is quite bad in this kind of threads...

I think he meant that ripples can be taken away from you by the owners of Ripple, while bitcoins can be taken away if they get the private key. He was kind of pointing out the flaws of centralization.

They can't as Satoshi can't take away your Bitcoins, there is no difference.

Ripple is a Centralized currency and ripple didn't meet any rules and regulations of Decentralized currency,  In normal language we can describe ripple as a scam nothing more then that. Its ruled by few people and trying to rob public's billions of dollars.  Be aware.

A really good investment that you shouldn't know about. Shh.

To prevent you from buying them up before I do, I'll just call it a scam. Hope I scared you.

Well, Ripple is centralized. Isn't it suposed to be controlled by the owners?

Ripple is not centralized, nor a scam. ripplescam.org was created by reputed scammer TradeFortress:

https://www.google.com/search?q=tradefortress (https://www.google.com/search?q=tradefortress)

Its open nature competed with his and other closed centralized systems. He had a vested interest in attacking, and has now allegedly fled after inputs.io collapsed.

Ripple source code:

https://github.com/ripple (https://github.com/ripple)

It has a lot of great features and concepts contained within, that could benefit the crypto community at large.

I am most excited by Contracts, and hope to see similar systems adapted to other next gen coins:

https://ripple.com/wiki/Contracts (https://ripple.com/wiki/Contracts)

A lot of people disagree the decision of Ripple Labs to mint all of the internal currency at launch. They will control its initial distribution.

Like GridCoin and CureCoin, you can earn XRP by contributing to a humanitarian cloud computing project:

https://www.computingforgood.org/ (https://www.computingforgood.org/)

Ripple Labs recently raised the daily giveaway to 1,250,000. As of this moment, it looks like the Ripple team is ranked at 140 out of 98,770:

http://www.allprojectstats.com/showteam.php?projekt=0&id=1824713 (http://www.allprojectstats.com/showteam.php?projekt=0&id=1824713)

Here is a discussion on earning XRP via cloud computing:

https://xrptalk.org/topic/786-setting-up-cloud-servers-for-beginners-for-wcg-points-generation/ (https://xrptalk.org/topic/786-setting-up-cloud-servers-for-beginners-for-wcg-points-generation/)

A fork is underway that seeks to eliminate pre-minted XRP:

https://bitcointalk.org/index.php?topic=372486.0 (https://bitcointalk.org/index.php?topic=372486.0).

While I hope Ripple itself succeeds, it will be great to see the broader innovations of their system embraced in new competing systems. It has a massive amount to offer.

To boil it down to the simplest terms a bitcoiner of any level should understand... Ripple is a payment network.  It is a step forward in the evolution that is the bitcoin network.  It is currency agnostic and frankly, far more elegant then the btc network.

Ripples or XRT are their currency which as of now doesn't really hold much value.  They are suppose give away about half of it.

I disagree slightly. I do not see Ripple as a rival to Bitcoin, in an evolutionary manner; it solves for different concerns of centralization, and focuses on decentralization at different levels.

I see it as a complementary to Bitcoin (and all currencies) by design. Its beauty is in not trying compete. Instead: use Bitcoin!, or any currency you choose. A lot of people miss that it seeks to enable users to pay for any transaction with any currency they choose. Bitcoin, itself, is beautiful in its own unique ways.

It is a bridge between all currencies.