Don't forget that Bitcoin can be theft-proof. Pick-pockets, muggers, even schoolyard bullies won't be able to steal your lunch money. I can see Bitcoin as being a way for parents to control their children's money and only spend it at approved places with form of debit card that requires 2 of 3 signatures.
"transfer your bitcoin to my wallet or I *" *stab *punch *kick *wrench your arm *rape *shoot *kill *severely beat When it comes to mugging or bullying, bitcoin is no different than cash when it comes to someone coercing an individual to relinquish funds. Recently here at a local wal-mart a man approached a few women, made them take them to their own homes and raped them in their own beds. If an agressor can coerce that, they can coerce you to transfer the contents of your wallet. That will require my dad to send his signature which he will do after he kicks your dad's ass. |
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Don't forget that Bitcoin can be theft-proof. Pick-pockets, muggers, even schoolyard bullies won't be able to steal your lunch money. I can see Bitcoin as being a way for parents to control their children's money and only spend it at approved places with form of debit card that requires 2 of 3 signatures.
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I started this thread because I did something wrong and I don't know how I could have possibly done so. It was a no brainer, and yet something happened and I have no idea what. Bitaddress.info has a BIP 038 option that should not allow you to copy/paste passphrases. I don't think I did that, but it is possible that when I verified my passphrase before loading the wallet, I may not have typed it in like I should have.
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How will Ripple Labs comply with government sanctions?
Similar to "sanctioning" the Bitcoin foundation there is not a lot to "sanction" at Ripple Labs to begin with... the network can and will go on, no matter what RL does. I guess they would just follow whatever sanction hits them, though I don't see it having any effect on Ripple itself. So if Ripple Labs is shut down, the network will go on just fine and all transactions will be accounted for in the ledger? How will Ripple Labs comply with government sanctions?
How do any core bitcoin developers left in the US intend to comply with government sanctions? It doesn't matter where Bitcoin core developers are if they stay anonymous. |
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How will Ripple Labs comply with government sanctions?
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"If you make something idiot proof, someone will just make a better idiot."
You are saying "If you make everything unsafe, everyone will be safer." I'll bet you don't ever complain when someone does something foolishly that harms you, because that would imply that you are an idiot for being careless. |
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Please define "idiot proof"
It's all part of the ease of use, and to protect newbies from doing something wrong. Like warning about importing private keys and advising to sweep them if they could ever be compromised. Not allowing a full address to be copy/pasted in one shot would be useful so someone doesn't use a wrong address in the clipboard. Anything to make key handling safer. |
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Why did Ripple Labs choose to create XRP rather than use Bitcoin to secure their transactions?
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Take an extra few minutes to add something to make wallet software idiot proof whenever possible.
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I've done a little more reading about Opencoin/Ripple Labs version of Rippled. I no longer see it as a threat to Bitcoin. It is a fundamentally different approach to payments than Bitcoin. I laud the tenacity of the marketroids selling the system (which requires buying XRP), but I will reserve final judgement on it until there is further development and forks to compare it to.
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Some whale is flipping Bitcoin over to shake the last few dollars out.  |
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I guess you mean RippleLabs... yes, the client code is just hosted on ripple.com for convenience, you can run your own rippled to connect to and set up a webserver with the client locally too (it's what I do for example), I linked the repositories before. I'd recommend to use the tagged release versions and not bleeding edge code as it is under active development.
So if I set up a centralized webserver as you suggest, the trades will be distributed with the Ripple Labs hosted transactions? rippled is not a webserver, you would probably deploy ripple-client on a local webserver though. Then tell the client to connect to your local server instead of the official public servers and your local rippled server needs connectivity to other rippled servers of course (just like bitcoind). I am not sure what you mean by "Ripple Labs hosted transactions". I meant Ripple Labs generated blockchain, although there isn't a way to validate that independently. As a black box, the Ripple Labs servers just seem to be a clearinghouse of transactions similar to Liberty Reserve. Well, just like with Bitcoin where you kinda need to use the Satoshi generated block chain, you kinda need to use the ledger chain RippleLabs started. You are free to run your own fork of course, but this has similar consequences as with Bitcoin (you'd create an Altcoin with Bitcoin rules or an alt-ledger with Ripple rules). Their validators are widely used, but not the only ones out there, so while they are currently still quite central to the network the network could very well survive without them. You can run your own validator by the way too, some people who are critical of RippleLabs would probably add yours to their UNL to have even more diversity. I might announce my own one "soonish" too, once it has a bit better hardware and runs more stable. The ledger chain as you call it is not mined. It is arbitrarily assembled by an algorithm subject to the whims and fancy of Coinlabs, Inc. and/or Ripple Labs. It is not an open source project and it is not even publicly auditable. Again, this centralized ledger is akin to Liberty Reserve which was shut down and the operators were arrested and indicted. It just sounds too risky to get involved with. |
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I'm hoarding myself and waiting for double-digits to buy back in, but that's pretty much been my modus operandi for the last three years anyway. I want to retire and live off of my coin for the rest of my life, and I can't safely do that right now. Without taxes, I almost could.
As we saw with MtGox, if Bitcoin goes below $100, every exchange will become insolvent. You will not be able to buy bitcoins except from miners and that will be the end of PoW cryptocurrencies. |
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I guess you mean RippleLabs... yes, the client code is just hosted on ripple.com for convenience, you can run your own rippled to connect to and set up a webserver with the client locally too (it's what I do for example), I linked the repositories before. I'd recommend to use the tagged release versions and not bleeding edge code as it is under active development.
So if I set up a centralized webserver as you suggest, the trades will be distributed with the Ripple Labs hosted transactions? rippled is not a webserver, you would probably deploy ripple-client on a local webserver though. Then tell the client to connect to your local server instead of the official public servers and your local rippled server needs connectivity to other rippled servers of course (just like bitcoind). I am not sure what you mean by "Ripple Labs hosted transactions". I meant Ripple Labs generated blockchain, although there isn't a way to validate that independently. As a black box, the Ripple Labs servers just seem to be a clearinghouse of transactions similar to Liberty Reserve. |
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Aditionally, do you think some of that ones could eventually surpass BTC?. Do you think BTC could evolve to include PoS features, decentraliced exchanges, 51% protection and all the new jazz?
This thread is pointless troll bait. |
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Me too, that's why I like Ripple, since it is not centralized.
Cool. Can I use Ripple without trusting any Gateways? Sure. Can I use it without going through Opencoin? I guess you mean RippleLabs... yes, the client code is just hosted on ripple.com for convenience, you can run your own rippled to connect to and set up a webserver with the client locally too (it's what I do for example), I linked the repositories before. I'd recommend to use the tagged release versions and not bleeding edge code as it is under active development. So if I set up a centralized webserver as you suggest, the trades will be distributed with the Ripple Labs hosted transactions? |
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Me too, that's why I like Ripple, since it is not centralized.
Cool. Can I use Ripple without trusting any Gateways? Sure. Can I use it without going through Opencoin? |
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Me too, that's why I like Ripple, since it is not centralized.
Cool. Can I use Ripple without trusting any Gateways? |
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Shouldn't this be Ripple vs Ethereum? Ethereum has a stronger development team and wider scope than Ripple. Bitcoin isn't even designed to do the same thing.
This assessment is based on what exactly? Anyways, I agree: Ethereum, eMunie, NXT, Mastercoin, Colored Coins etc. are the things you should compare to Ripple, Bitcoin is just something that is very well designed to be traded on these platforms. Centralized platforms remind me of Liberty Reserve. |
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Shouldn't this be Ripple vs Ethereum? Ethereum has a stronger development team and wider scope than Ripple. Bitcoin isn't even designed to do the same thing.
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