Is this still going?
BULLSHIT
I have never PM'd GoWest. I didn't even know wtf he did. Again,
BULLSHIT
You mad bro? |
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What BTC needs is some big global solid exchange. Crazy none have popped up, cause they would make so much money that theyd be able to put themselves on layaway after about a year.
No BTC needs a lot of smaller exchanges in competition which makes them solid. Fully agree! Even though for someone who want to buy bitcoins for the first time, a solid Exchanger is a good option in terms of trust. See what happened with Bitcoin-24 (I must say they allowed me to withdraw my bitcoins even if their account was frozen by the authorities). Still think that a larger bunch of different exchangers is a good way not to centralise the offer. The general theory is that enough competition should prevent incompetent folks from opening an exchange in the first place so that such a clusterfuck can not happen. Whenever that holds true we will see. |
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There's a tendency for every Ripple related thread to turn into discussions about Ripple. It's certainly not very productive.
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That doesn't really need any caption.
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What BTC needs is some big global solid exchange. Crazy none have popped up, cause they would make so much money that theyd be able to put themselves on layaway after about a year.
No BTC needs a lot of smaller exchanges in competition which makes them solid. |
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First comes trading volume, then order book size, then they lose dominance.
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Yes I don't think XRP will do anything to "crush" BTC. It's even more different and has different kind of people willing to invest in it.
But thats also the thing the people who feel threatened by it don't get. I don't really know how much it will really affect BTC, but from how things look now it's worse than before LTC took off.
I agree on gox also, although not short term, since the exactly kind of thinking process makes somebody think we "need" gox to maintain a good price, don't ask me for the rationale on this it's mainly irrational - anything changing the status quo is potential bad news for those guys.
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That it generally does not fall under the category of negotiable instrument does not necessarily mean it is not enforceable.
As I said before: Purposeful and malicious default should be covered under the legal margin of an IOU.
I agree that the "IOU" could certainly be enforceable under the right circumstances..but by whom? And how do you propose proving a " malicious default"? Show the court a print out of TFs thread for instance. |
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I try not to deal in debt in the real world, why would I deal in debt on the internet?? Stick to Bitcoin, its a better idea.
Unless you only ever use cash and bitcoins, you do deal in debt. Do you deposit money in a bank account? That is accepting Bank IOUs for your cash. Do you ever give somebody a check? That is giving that person an IOU. Later they give it to their bank and that bank gives it to your bank, and then your IOU is used to cancel some of the bank IOUs. Ripple just makes these relationships more explicit and open, not everything has to go through the central bank anymore. Even cash is debt; that's why they are Federal Reserve Notes, representing an IOU from the government to you. And Bitcoin, big surprise is pegged to them. It's a closed system folks. oh wait... apparently not entirelyBut since it is not Bitcoin or can't be hoarded for financial gain it isn't worth it, right? |
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Aint nobody got time for Ripple
Apparently plenty. The thing about paranoia is under it's influence you can't think straight, just compare the type of answers from the beginning of the thread to how they are now, I notice a big discrepancy. If I am right there will be an XRP bubble / BTC crunch next, it was the same thing with LTC... ironically fuelled by the paranoia. |
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Investopedia explains 'IOU'The informal nature of an IOU means that there may be some uncertainty about whether it is a binding contract, and the legal remedies available to the lender, as opposed to formal contracts like a promissory note or bond indenture. Because of this uncertainty, an IOU is generally not a negotiable instrument. That it generally does not fall under the category of negotiable instrument does not necessarily mean it is not enforceable. As I said before: Purposeful and malicious default should be covered under the legal margin of an IOU. |
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IOU is not a binding agreement, ask any lawyer and they will tell you. Specifically, IOU has no repayment date so it's almost always impossible to be enforced.
Then why does rocketlawyer.com have a "IOU form"? A missing due date doesn't necessary mean it's unenforceable, especially if the debtor specifically says "I'm not gonna pay you back" |
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Reported to eBay for the lulz
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Mtgox is slowly loosing market share, in the last 24 hours. according to https://bitcoinity.org/markets/list?currency=ALL&span=24hThis day it had 62% of the trading volume in the last 3 days 65%, in the last week 75%,in the last month 76% and the last 6 months 77%. Do you think mtgox will loose majority even without a further catalyst or will it just get there on it's own? |
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Do you think if Ripple is successful it will speed up or slow down a global fiat collapse?
I have no opinion either way: I simply don't know. The same goes for the entire movement of Bitcoin and crypto-currencies in general, I believe they will replace fiat currencies almost completely, I just have no way of knowing whether it will take five years of five thousand. I can tell you which one I prefer  I'm not exactly an anarchist, but it raises my ire how the machinations of the state stifle innovation. There should be somewhere on the ballot where you can vote for freedom and innovation. - Eric voorhees I am a libertarian. meanwhile at mtgox... |
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I said it was as much a scam as fiat. Either both or neither are a scam. The part that can be interpreted as a scam is that many people are too stupid to understand this is not in their interest.
no Fiat = state controlled monopoly this is a voluntary service in the market ... aka private that people can choose to use. That's your opinion. I think it's the world's biggest Ponzi scam (closely followed by European pension funds). I'm quite intelligent and I didn't figure out the extend to which they screw us until two years ago. No people I know (which is an above average crowd) have any idea how using fiat is like imposing a huge tax on yourself (I wanted use more colourful language here  ). That's not an opinion ... its a fact Ripple cannot use state force to force or prevent market entries. Once it becomes generally accepted that ripple IOUs are legally binding contracts that will not even be necessary. Till then it's up to the participants to utilize their rights under the law. |
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I sent 1 BTC between two of my accounts:
a) Nowhere it said that I actually sent an IOU.
Again it does, in the ripple intro. The ripple ledger consists of IOUs which are the contract(s). |
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I sent 1 BTC between two of my accounts: a) Nowhere it said that I actually sent an IOU. b) Nowhere it said that I actually supposed to send real BTC. c) It sent money and my balance magically became 1 BTC. There is no contract. First it's "IOUs don't constitute contacts", now suddenly it's "not even a IOU"... what is it? Consistency? TF was in control of the ripple account, he knew what would happen and deceived the participants purposefully he is responsible. The issuing of IOUs is explained in the ripple intro. Here is a "IOU Form" on the site of Law Firm: http://www.rocketlawyer.com/document/iou-form.rl |
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