Nice, I personally work simply with the web socket client in Python and rippled, but it might help others.

Currently the most limits concern the rate rippled can actually serve ledger data vs. new ledgers being created.
Maybe I'll try to put some stuff in a local redis or other nosql database so I don't kill or choke the public servers that much...

Anyways, that's details and bitcoind would also have problems if I requested the utxo set + balances for all nonzero addresses at any height...

Back to topic I guess one of the main issues would be to find someone to write a reasonably extendable client to be used by gateways and making rippled more secure and stable. There is a lot going on however, so I'm sure they use the summer not just to chill on the Bahamas with their vc funding.

Edit:
About xrp and market making:
I'm not too sure if xrp have to be market makers by design. They have the very useful property of being 100% accepted, on the other hand though they are volatile. They might be useful as intermediates in paths but I'm not too sure if there is a lot of money in this as to market make, Jed would also need to trust at least one (to gain high arbitrage: a little trusted which in return is more dangerous!) IOU gateway to exchange his xrp at a profit to these IOUs.
If the gateway is already very liquid like bitstamp there will be a lot of people and lines trying to underbid you, if it is badly connected to other gateways like trade fortress, there might be a reason for that...

I just happen to have some data. As of now, the total of all USD trades since the start of mtgox:

5,872,449 trades
50,541,892.44 BTC
$1,416,389,568.96 USD

MtGox charges a 0.3% to 0.6% commission on both sides of trades depending on the trader's monthly volume. So at 0.3% minimum, revenue would be:

151,625.68 BTC and
$4,249,168.70 USD

up to near double that. The real money is in the BTC, valued at over $15m now if they didn't liquidate them.

They also suffered a Wells Fargo and Dwolla account being seized - when you do the numbers, they might be able to afford it. There was a period of reduced fees after the hack/outage also. This is just for the USD currency, other currencies are traded separately.

They have a large staff to pay too, $30k/yr * 10 employees?

BTW repeat of this thread: https://bitcointalk.org/index.php?topic=117478.0

Exchange will go on. You're forgetting Bitcoin is growing and making gains every day. Sites like localbitcoins.com where people meet in person and Satoshi Squares where crowds make local markets will keep growing. Also, more people will trade bitcoin directly for things of value other than fiat currency.

No clue so I'll toss out numbers!

Average 30,000 btc a day, some more some less but lets say that :O
Running how long 2 years? lets say 700 days * 30000 - 21 million bitcoin transacted
0.5% fee

105000 bitcoin profit

The reason I don't care about XRP is that it is simply the token used to pay for Ripple transactions.

Some people here stop reading when they see "Bitcoin" and "regulation" in a sentence together, but most of the people that have posted here actually also stop THINKING when they read those words it seems. Wow.

Where Bitcoin interacts with the fiat-world there is going to be friction because of the nature of Bitcoin. Any effort to smooth this interaction should be encouraged, and I'm glad to see the first real attempt at accomplishing this. The sad thing is that so many people think this is "bringing regulation to Bitcoin", when in fact it's doing exactly the opposite.

They could even bump up the stakes by quietly having an ASIC farm in waiting (wouldn't have to be as big as in your scenario), DDoS all pools so difficulty plummets, then when difficulty changes, bring the farm online and double-spend as much as able to erode confidence and perhaps even convince some merchants to stop accepting BTC. At next difficulty change, halt the DDoS against pools and get everything in order to have all BTC exchanges served at once, while letting everyone mine until next difficulty change. At next difficulty change, shut down and seize funds from all exchanges able, then point their gov ASIC farm back to their old job of bruteforcing encrypted messages, letting the network semi-organically bring itself to a difficulty death spiral due both to the price plummet (due to many successful double-spends and sudden failure of many exchanges) and the huge dropoff in hashpower from the gov ASIC farm being pointed somewhere else.

Because funds may get locked up in there.
Dont want that.

Decentralization.

ok - mah87

explain Ripple to me so I understand it in a single post - {a success is an explanation that i can then explain it to someone with no exposure to Crypto}

if you fail , that's the 3rd fail -

1. closed source
2. centralized
3. no peer support , not transparent .

if you consequently come back to me and say  "its not your job to explain Ripple to me"

also consider that a failure, then sell what Ripple you have.

**
just a final note did you know that the "Economics" you may have learned in School or University is not "Economics" at all but a complex jumbled mess that tries to distract from a simplistic economic system that was obviously heading for failure , this resulted in the "Economics of Finance" basically the death of economics - why I'm telling you this is because complex systems usually equate back to something that is simply a scam, that is the case with most "economics" in the 21st century , so the longer ripple stays "complex" the longer it looks like a scam.

the way Crypto is evolving, Ripple will be forgotten by this time in one year.  

Ripple is a scam.


Oh please, Google is extremely dirty.
I'll allow Oracle Java on my machine but I won't allow Google Chrome.
I don't trust google.

I think google's interest in ripple is to integrate it into their payment services so that you have to have a google ID to use ripple.

So there is an ulterior motive to this.

This thread is not about Mt Gox, who is also probably breaking many laws.  This thread is about TradeFortress.  

My specific allegation is that TF may be offering banking services to Americans and he does not seem to be registered to do so.  If he did not deal with Americans then he might not be breaking American banking laws, but he does and is.  (probably).

Other people bring up interesting accusations like TF is using peoples passwords, and other people have called him a scammer.  There must be something to their claims, don't you think?  

Even so I think there is something to my claim.  Unless you have proof to the contrary.

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. 

Does anyone else find it funny that this guy is buying Ripple XRP, but has "Ripple Is a SCAM" in his signature line?


 

I just posted this on a topic elsewhere, but I wanted to give it a thread of its own as it is about BTC price and utility which are fundamental concerns to us all:


... directly from a provider (without a 3rd party exchange involved)

...and they're selling the "stamps" that allow people to send "packages" through their system.

you can 100x Googles budget and throw that at it if you like , it still can't change this fact.

It would be hard to believe that Andreessen Horowitz, Lightspeed Venture Partners, IDG Capital Partners, Google Ventures, and the Bitcoin Opportunity Fund would invest in a "scheme." 

Once you read how the consensus process works, you realize that proof-of-work is an already outdated concept. LCL is where its at.  Why the hell do you need to know every transaction that has ever happened (blockchain) when you could just have a record of the last ledger?

There's no orderly way for the USD and Euro to fail.  It's not like they fail overnight and the next day you're sipping mai tai's on a beach because you made a good call.  If they fail there will be widespread anarchy and possibly WWIII.  The largest economy AND military isn't going to just go down quietly.