Bitcoin is an online currency backed by the most powerful computer network in the world and is limited, secure, and completely controlled by you.
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OpenCoin has a monopoly on XRP. Yes, it is their property and they have every right to control it. However, that by definition means it is not a free market, it is a controlled market.
To me this isn't inherently good or bad. Maybe they'll screw all up. But it seems like they've been doing well for themselves thus far. So I can respect that at least. |
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OpenCoin Inc spent VC money to buy up XRPs on the open markets to get a bigger market cap so they can attract more VC funding. They can't release too much or the price will fall back to the real values (without their own buying).
That's an interesting accusation. Do you have any evidence of this? What evidence would you need? Even if they did do that, no one is forcing anyone to buy XRP. I don't understand why ripple gets everyone panties in a bunch. Bitcoin is not going anywhere. Ripple is not a "scam". It might be a bad idea, or just a failure in general. But it's certainly not a scam. And anyone who goes around posting in giant red text that it's a scam just looks ignorant and immature. (Not directing this at you MPOE in particular, although normally I would expect you to articulate why ripple is worse than Hitler as opposed just throwing around ad hominems) |
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Ahhh nice catch. We must have all been tracked.
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Incorrect. OpenCoin has complete control over the price by having complete control over the supply.
The market takes that into account. It's still a free market in the bigger picture. Opencoin can not control whether or not people purchase XRP. As of now the free market has assigned a value of around 50 XRP per usd. When you unilaterally control supply, there is no free market. If OpenCoin were to dump 30 billion XRP on the market tomorrow, do you think the value would still be 50 XRP/USD? Obviously not. Until the majority of the XRP is distributed, market demand is in the hands of OpenCoin. Opencoin is a company. Not a government. XRPs are their property. No one is forcing anyone to do anything here. Anyone who purchases XRP knows exactly what the situation is. (I have not purchased any XRP fwiw) |
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OpenCoin Inc spent VC money to buy up XRPs on the open markets to get a bigger market cap so they can attract more VC funding. They can't release too much or the price will fall back to the real values (without their own buying).
That's an interesting accusation. Do you have any evidence of this? |
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Incorrect. OpenCoin has complete control over the price by having complete control over the supply.
The market takes that into account. It's still a free market in the bigger picture. Opencoin can not control whether or not people purchase XRP. As of now the free market has assigned a value of around 50 XRP per usd. Opencoin is a service provider. And ripple is the service. XRPs are a part of that service and people deem that they currently have value. That value is partly based upon the market deeming that Opencoin is both trustworthy and capable. Whether that is actually true or not remains to be seen. |
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It appears that as prices for Ripples rise (they are currently valued higher than Bitcoin's market cap), OpenCoin will reduce the rate of distribution instead of sticking to a plan. Back when they first began handing out in this forum, they sent 50k XRP. They reduced this slowly, and now they are giving out 1k XRP. So, I believe they think that being valued over Bitcoin market cap is a fair price, or that they think they must maintain it to continue generating profits selling their coins.
Because OpenCoin has no plans in monetary policy and likely spontaneously changes their plans based on where the price is and where they would like it to go, it is probably prone to bubbles, even more so than Bitcoin, where the block chain relentlessly distributes according to an algorithm, no matter what.
They set themselves up between a rock and a hard place, if they want to maintain the price, at this rate of distirbution it will take more than half a century to inject the 50 billion XRPs they promised into the market, if they go quicker.....  Half a century sounds reasonable considering the scope of their ambition. |
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No problem. Never too old to get started with bitcoin  |
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Also be cautious in general with android if your Grandfather has a wallet on there. Especially after enabling this.
Hope it works.
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It should be in settings/personal/security
And then check the "Unknown Sources" checkbox
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Did you change the settings first to enable android to be able to load apps from unknown sources?
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Are we allowed multiple entries?
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Ripple, a threat to Bitcoin? Let a few people pitch it that way if they want. I think the idea is ridiculous. The space is huge, and there's room for many innovative solutions. Bitcoin's competition is the USD, EUR, YEN, etc... Not Ripple. Slanderers of Ripple are shooting themselves in the foot.
Ripple is not a threat to BTC... The ability to set up instant exchanges, create custom securities, fast transactions, etc... Will all benefit the BTC Ecosystem dramatically. Slanderers of Ripple are are putting THEIR interests AHEAD of Bitcoin... BTC attracts sociopaths like shit attracts flies... Behind that thinnest veneer of idealism people here care ONLY about filthy lucre. And with a tiny $1 billion float BTC is not competing with Fiat currencies... LOW VELOCITY Bitcoin is not even a "currency", it's a "commodity" people are hoarding... And it will end up being just that = a GOOD, quaint store of value like gold. Generation 2.0 networks will take over the crypto-currency space... Since Bitcoin "development" is dysfunctional, ad hoc, and woefully underfunded... And grinds to a halt every time Gavin takes a leak. But in a parallel universe... Bitcoin's hip, mysterious, post-cultural, omnipotent God-figure... Will end the Times of Tribulation with His return and the Rapture... As Early Adopters prevail in the final battle against unworthy Late Adopters... But of that day and hour no one knows, not even the angels of heaven. I'm your biggest fan QuantPlus. I want to work for your fund. |
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Bitcoin used to be near worthless, so I guess no one really bothers until recently. But Bitcoin now is extremely valuable, everyone needs to take the necessary precautions.
It was worth around 10-12 dollars if I remember correctly when he lost his coins. Around $100,000 dollars even then. Definitely not worthless. In Fact, bitcoins have been worth protecting since at least 2011. It was 2009-2010 when people were forgetting about/deleting their wallets without thinking too much. |
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six confirmations
now secure in the blockchain
gift from Satoshi
1HmTGYq8YbroqpRmKBZ5XUpzbsF94PiseL
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 There is a darkness here. We are under attack. And this is not an enemy we can fight conventionally. This is almost of the supernatural. limitless. A hacker seemingly from the nether realms who has taken over at least 20-30 accounts recently. Thousands of various coins stolen. He is everyone, and he is no one. Every single person you know, even the most trusted - all limitless. It cannot be stopped alone. We must all band together if we are to survive. Report all suspected limitless activity here. It only makes sense if we start with me. Just who am I? Have I been compromised? Are you falling right into his maze by believing me?Trust no one friends. You are obviously Limitless. 4/10 for effort. |
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It is possible to brute force diamond. Bitcoin private keys cannot be bruteforced.
Not sure that this is a valid comparison. You can't "brute force" a diamond. You can create one though. There is unknown how much diamonds can be mined. Bitcoins have known limit.
It's unknown exactly how much diamond there is on earth, but we do know that it is a finite amount. Like gold, or bitcoin. Just with bitcoin we have an exact number. Diamonds can be accquired from other parts of galaxy. Bitcoins cannot.
Can't argue with that. |
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As I mentiont in the initial post, it's not the point to compare BTC with diamonds.
This does sum up the definition of money or store of value. Bitcoins value are more or less intangible, yet divisible, and scarce. Making it better than diamonds. Oh and globally instant payment transaction
First of all definitions are bullshit, since I can define everything I want and that doesn't add new information. Bitcoins aren't sacre at all. If you see them as Bitcoin they are very limited, but if you see them as crypto they aren't limited at all. copycats? LMAO, surely you don't mean African "blood diamonds"
By copycats I meant f.e synthetic diamonds or any other imitation of diamonds. Some of them can't be identified without hightec equipment. If I launch an exact copycat of BTC there would be no difference between them besides the distribution or age. Just because you have somthing people usually wouldn't pay more for it, but strangly the oposite applies to diamonds. No way diamonds are desirable
Oh Sorry, the word must have been desired. It is actually a really good comparison. People aren't thinking it through. Your original post was good. |
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Umm uaw Proxy, really not that hard.
No, it really is that hard in this case. |
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