Dry facts:
- Ripple is NOT open source
- Ripple is NOT decentralized
- Ripple does NOT use "the same underlying cryptography" as Bitcoin
- Ripple is NOT counterfeit proof
- Ripple CAN PRINT as much XRP as they want (they already did actually).
-It is open source, just not published, you can get rippled if you ask opencoin for access -correct, but it's designed to be decentralized, it just hasn't been published -does that really matter? If it works it works, if it doesn't it doesn't, no fuss about it. -this makes no sense whatsoever, it's not a currency but a debt based payment system, there is nothing to counterfeit. -correct, they could, now before release change the number of XRP, but they would undermine their efforts, and after release the can not any more, and actually there might as well be nodes already not under the control of opencoin in which case, it's about as hard to do as in the beginnings of Bitcoin. Bingo, It's not released yet.  Your post is intentionally misleading by assuming the limited beta is the state of it's design. |
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We all have seen that. Still wondering about the close temporal proximity, or lets call it quick succession. Maybe, this all originates at the same office, bureaucrats you know.  Maybe they have "Internet month" and next month they are after something different, like credit card fraud or fake bills. |
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I don't think anybody was speaking of Bitcoin itself rather than exchanges and anti money laundering regulations.
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Classical Libertarian propaganda.
A lot of people will just stop receiving capital gains, that's all. Toxic companies "on the stock market" which do nothing but to manage capital will be liquidated. Oh and some politicians might loose their jobs...
And people holding bitcoins, gold and silver will get stinking rich. Nope, it will be people who own companies to build robots which wipe your ass. (Because 80% of the population is now 80+ and can't do it like they used to) |
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Because governments and central banks all over the world will instead work together to instead devalue money. More slowly than instant, but in a hidden trail.
Pensions and all monetary investments will slowly loose their value through carefully pushed hyperinflation masked by using an indicator and creating a "shopping cart" that will readily mask this.
You will loose savings, true. Everyone will. But the system won't collapse. At worst, they will vaporate some savings and put them into other people's pockets to fix their debt and consolidate. At the moment this system is working better than ever before. It is a gold mine for every bank and investment guy in the world. It is absolute horror for the average saver with pension funds.
China and Russia. When hell freezes over. Have you lived in these countries? No way in hell are chinese going to accept any shared currency that is not perfectly under their control. And Russia accepting Chinese control over their currency? Fuck that.
This is not going to happen.
They aren't devaluing money slowly, nor in a hidden trail, it's out in the open, central banks are creating money and buying bonds at an amazing rate. If they stop, the entire system will collapse. The stock market goes down every time they ease up a little on the QE throttle, so they must continue creating more money. If they don't, it will collapse anyway, there's nowhere to go but create a new system, with gold as the reserve currency. As for China and Russia, I'm just speculating, it's the speculation forum  , we'll see how it develops in the next years. Classical Libertarian propaganda. A lot of people will just stop receiving capital gains, that's all. Toxic companies "on the stock market" which do nothing but to manage capital will be liquidated. Oh and some politicians might loose their jobs... (and have a bright jail career) In 2008 it was the system will be gone five years max. Now it's time... frankly I can't see it. Oh you mean another five years? |
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'trust me for $1000 and I'll send you $100 - here's my ripple address just give me yours' in a million email accounts every day.
How about no? How about I only trust people in ripple I do actually trust? Yeah ripple IOUs don't work - if you are purposefully missing the point. Several hundred people on this forum trusted tradefortress for 100btc - the very fact that they are on this forum suggests that they at least understand enough to know that they shouldn't have - imagine that spreading out across the world to people who don't understand anything. 'hey man trust me for $100 and i'll give you a discount' - people will just do it - there's a $ sign in their account - why would they not believe the money is real? I think the bitcoin newbie forum is the last place in the world where people actually would understand what trust means. The unique combination of greed and lack of knowledge is unprecedented. TF knew this, that's why he started the scheme there. Most of the people involved didn't even know ripple. You can say greed is an exploit for trust, in which case TF exploited human nature not ripple. Edison electrocuted an elephant to show the dangers of AC power, and while he was correct it would kill the elephant we use AC over DC power all over the world now. |
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'trust me for $1000 and I'll send you $100 - here's my ripple address just give me yours' in a million email accounts every day.
How about no? How about I only trust people in ripple I do actually trust? Yeah ripple IOUs don't work - if you are purposefully missing the point. |
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Not exactly, but ... Yeah that's what I thought. |
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It doesn't work.
I have tradefortress 'bitcoins', but I can't do anything with them. They are sitting in my account.
I can't send them back to tradefortress, I can't delete them, I can't trade them. I don't want them.
How do I differentiate these 'bitcoins' from other 'bitcoins'?
I'm not sure what you mean by how do you differentiate them. It seems like you already have -- these are different because they are worthless. If you want to get rid of them, drop your trust line to him to zero and see if anyone will take them from you. If not, you can "write them off" by paying them back to him. If I send the bitcoins back to tradefortress how do I know he is not going to receive my bitstamp bitcoin IOUs? I only want to return the worthless tradefortress bitcoin IOUs. If I take a $100 bill, declare it as worthless and give it away is it really such? If ripple is successful TF will just have a bunch of debt. He then can claim it's worthless all he wants, people won't care. He made a gamble that ripple will fail, which would be ok if he had some stakes to win. |
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I requote, just to be sure nobody gets that wrong: It's not the first time they done this, but the question remains: what is the reason and how is it linked to Gox? My guess is they are waiting to see what happens with the dwolla account. They are in a similar situation, not necessarily affected themselves but the exchanges would be. It's a precaution, for them it's better to lose a little business for the time than have to risk a mass of disgruntled consumers with frozen funds. |
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It's interesting that the people arguing against ripple are the ones who stand most to lose, their main fear is that other people would choose XRP as speculative investment over Bitcoin.
Let's quote here, shall we. Again you link to MPs blog, this time not even relevant to the debate. I ask you again, did you research ripple yourself or are you parroting what MP feeds you? MPOE is not Mircea Popescu? I've been thinking for ages that MPOE-PR was Mircea's forum account. allegedly not That's funny, MPOE links to Mircea's posts every day, most of the times to support/complement his points... I definitely believed MPOE=Mircea. It would make sense, MPOE claimed she is the women on the avatar, but then it could just really be Mircea. Nobody really cares enough either way. But acting like you believe it makes for some possibility of interesting debates, like we have seen above. |
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It's interesting that the people arguing against ripple are the ones who stand most to lose, their main fear is that other people would choose XRP as speculative investment over Bitcoin.
Let's quote here, shall we. Again you link to MPs blog, this time not even relevant to the debate. I ask you again, did you research ripple yourself or are you parroting what MP feeds you? MPOE is not Mircea Popescu? I've been thinking for ages that MPOE-PR was Mircea's forum account. allegedly not |
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They should have collapsed 5 years ago, but somehow banksters pull one rabbit out of the hat after another, miracle after miracle. Postponing the inevitable for a little more every time. As soon as their diminishing returns on miracle making get too diminishing it is all over.
Actually it's not really a miracle. The remittance of debt is what keeps the system going, and as long as the extent is large enough this can go on for a long long time. If the amount is equal to the amount of compounding interest which can not be payed back even indefinitely. |
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It's interesting that the people arguing against ripple are the ones who stand most to lose, their main fear is that other people would choose XRP as speculative investment over Bitcoin.
Let's quote here, shall we. Again you link to MPs blog, this time not even relevant to the debate. I ask you again, did you research ripple yourself or are you parroting what MP feeds you? |
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This is a common area of confusion with ripple (IOUs/XRP) - in part because the official function of ripple is rippling IOUs but the only part that works properly/is easily usable is XRPs. So all the talk/trading is of XRPs despite them being officially just a minor feature to control spamming (in reality the main aim of OpenCoin is to extract value from the 1 billion XRPs they printed - the IOU trading etc is just a necessary evil for them in making the XRPs have some semblance of use/value).
Apple building iphones and macbooks is just a necessary evil to make APL shares have some semblance of use/value. |
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Short term: Slight decline or no effect (in fact I think we've already seen the 'worst' of it)
Mid term: Lower prices on exchanges that rely the most on OKPay, higher prices on exchanges that may or may not use OKPay but have other funding options that are used. Could BTC-e price get any lower? Arbitrage folks will have a field day with this.
Face it, any "BIG BOY" trader who has the power to move the market will have multiple funding routes and multiple exchanges in case one screws up. The little cats will have to wait a week to KYC with somebody else or find a good OTC hookup but they don't have as much of an effect on the markets anyways.
Long term: Price go up uP UP because harder to get = lower supply but same and rising demand = more expensive bitcoins!
inb4 "Lol but making it harder to get bitcoinz means less people will want to use them! In the world of economics, lower supply automatically leads to lower demand, thus making the supply/demand law of economics completely useless! I r smart & know economicz"
This doesn't really affect supply nor demand for Bitcoins. The number of Bitcoins for sale stays the same, as well as the number of people who want to buy them. What can change however is the OTC premium. |
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This sucks, okpay was the most convenient cash option.
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The market is stunned.  No wonder after this  |
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fibonacci retracements
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It was bought in rapid, multiple chunks. Kind of looked like someone buying their own wall, mixed with a few panic buyers and bots. Either that, or there where a lot of buyers ready to buy.... if it was one buyer it would have made sense to just buy it all in one go.
Can somebody explain to me what the purpose of that would be? The only thing I can think of is somebody trying to prop up mtgox volume relative to other exchanges, is that it? |
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