Ripple is misunderstood.
Centralization is a threat to Bitcoin and most Alts. Ripple is a complementary system for all currencies. It battles against centralization, and in entirely different ways than most cryptos. It targets eradicating centralization issues at different levels, with its own unique decentralization model. Yet, most people are unaware, misinformed---or have vested interested in attacking Ripple.
MasterCoin, NXT, eMunie, and Monetas are all systems attempting to solve similar issues. They are all worth taking the time to evaluate and understand. I do not claim any one system solves all major threats we are facing today.
Why are so many misinformed?
http://ripplescam.org/ (inaccurate and outdated)
In almost any discussion this site comes up, despite it offering no real value. Understanding why Ripple is important means understanding major issues threatening most crypto currencies today.
When you trade on almost any exchange, you are embracing centralization. Likewise, the same is true for most Bitcoin payment systems. Ripple is derided for its decentralized IOU system, yet it is designed specifically to mitigate the threat posed by centralized exchanges and payment systems. In using those systems, you are embracing closed IOU systems. All of the value of crypto transactions is gone at that point. Many have been bitten by the scams that this has allowed, and the fallout from ineptitude of the operators of many of these services.
https://inputs.io/ is the poster child of these threats. Scam or hack? Ripple is attacked, in part, because it threatens the business model of closed centralized exchanges and payment systems. It is important to note that the author of ripplescam.org is, in fact, the same person responsible for
inputs.io, along with centralized systems that have wreaked havoc on the community.
TradeFortress is the perpetrator:
https://www.google.com/search?q=tradefortressWhy would he attack?
He had major interested in detracting from Ripple. Its model conflicts with his (and all other) closed centralized payment systems. In driving people away from Ripple to his centralized system, he cost trusting users dearly. An angry community is looking for him. His specific whereabouts are currently unknown. It is worth carefully evaluating all he has had to say about Ripple.
Everyone should read this conversation clarifying lower level misconceptions of the Ripple system:
https://news.ycombinator.com/item?id=6867324Ripple is, in fact, open source:
https://github.com/rippleIt is leading radical new concepts that may be beneficial for all new currencies to consider:
https://ripple.com/wiki/ContractsRipple may or may not be the future---but it brings vital concepts to the table. They need to be considered for their individual merit. Decentralized payment and exchange systems are vital to the future of crypto currencies. Ripple does not need to replace any currency. Its system complements all currencies. It is not about Ripple vs. Bitcoin vs. your favorite crypto currency.
If you do not believe in Ripple, or Ripple Labs, then by all means fork the code. Create a system that aligns with your ideals. Create a new code base altogether---as Ripple alternatives like MasteCoin, NXT, Monetas, and eMunie are attempting. Dismissing Ripple and all concepts tied to Ripple disservices the future of crypto currencies.
Many of those who attack have vested interest, to drive their centralized alternatives. It hurts the community.
Scammers with vested interest in centralized systems abound.
Support decentralization.
I am mining on it and I like it.
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