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Satoshi has you all fooled. It's Leah.
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...
Rather than credit being created behind closed doors in smoke filled rooms, it can be created on a transparent ledger by global consensus. If governments look to Bitcoin as a line of credit that they can borrow from on a level playing field, global monetary policies can happily make adjustments to their local needs without affecting international trade dynamics.
This might just be the way to solve the Worlds problem with this. This also brings to mind the Economic System that exists in the End Days. It will fix all the economic problems of the World. It will be called the Beast System….. … And your name happens to have Beast in it.  IT ALL MAKES SENSE NOW!!! I am your humble servant. |
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How about BTC is a line of credit which also offers a distributed store of value?
Dude. Dude. Doooooooooooood. That just blew my mind. |
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It all depends on how you look at it. I prefer to think of it as a line of credit. I worked to acquire a secured line of credit by mining or trading for my bitcoins. That line of credit fluctuates with the confidence of the Bitcoin economy similar to the prime lending rates set by central banks. If trade away my bitcoins, they go to someone that also wants to increase their secured line of credit. If you buy your bitcoins when they are overvalued, you will go underwater on your bitcoin credit. If you buy your bitcoins when they are undervalued, you can flip them when they are again overvalued. One thing we've learned about credit over the last three decades, is that there is no end to it on a global scale as long as everyone plays along and inflates their currencies. The problem is that not everyone does this equally. This has led to a general distrust in international monetary policies and great instability in credit markets.
Rather than credit being created behind closed doors in smoke filled rooms, it can be created on a transparent ledger by global consensus. If governments look to Bitcoin as a line of credit that they can borrow from on a level playing field, global monetary policies can happily make adjustments to their local needs without affecting international trade dynamics.
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I was thinking about it few years ago but I don't play video games. I'm only interested in making money through trading like in WoW.
I hope you are not comparing Eve to WoW. |
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Everyone talks about dictionary attacks, so fool them with a thesaurus.  |
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what happens if someone encodes a child abuse video in one of the comments. how could we reverse that, without arresting everyone on the bitcoin network??
You can't. You may include a link. So shut down the link. but the link is on your computer. therefore your under arrest They've been saying that about spam for decades. Not a real threat. |
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"Bitcoin, we need to talk. It's not you, it's me. We need to take a break and see other people. Excuse me, I have a date with Litecoin."
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what happens if someone encodes a child abuse video in one of the comments. how could we reverse that, without arresting everyone on the bitcoin network??
You can't. You may include a link. So shut down the link. |
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So when eBay starts using this to take down Bitcoin exchanges, is Bitcoin Foundation going to:
1) Use all those donations it got to fund legal challenges to get the patent overturned, or,
2) Urge every Bitcoin business to start paying to license the patent from eBay
C. IDK what my bf will do, but I would wallpaper my apartment with C&D letters and stay distributed. |
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So I went to Ripple.com to open my wallet. It seems the account is gone. The un/pw are not recognized and they were written down. The PW was very strong. No major deal. I didn't have much on there. Personally, I would rather have the gateways and wallets physically local so they fall under local jurisdiction since they are not transparent.
Once an account has been created in the ledger (which happens once you have deposited the reserve amount), it cannot be deleted. Ever. So I'm sure there is some good explanations to what happened to you. I don't think this thread is the right place to help you with creating an account, but if you share your experience in the New Users section of Ripple forum, we can help you get started and activate your account. Cbeast,
Why ship gold when you can store it for free and liquidate into anything on ripple, anytime anywhere?
As soon as there are other gold gateways in other locations you can effectively move it without moving it...
Who independently audits your service that it matches records at your partner's vaults? I'm not saying your record keeping could be wrong, but your partner's may dispute your records and there would need to be independent verification. I have not found that assurance on your website. Also on your ToS "Right To Redeem (RTR): means the redeemable electronic representation of an amount of currency or the troy ounce weight of an investment grade precious metal on the Ripple network." (emphasis mine) "All services are provided without warranty of any kind, either express or implied." I'm not questioning your integrity. It's just that the customer has little recourse in a dispute. To answer your question, if it isn't physical gold in your hand, then it's an investment derivative, not actual gold, marketing notwithstanding. Still, I commend you on taking part of a grand experiment. Again, I think that discussion would be more on-topic on the Ripple forum. Agreed. This thread should be moved to an altcoin section. It was a thinly veiled attempt to bring anti - bitcoin Ripple trolls. I tried to keep it civil, but they are relentless. |
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So I went to Ripple.com to open my wallet. It seems the account is gone. The un/pw are not recognized and they were written down. The PW was very strong. No major deal. I didn't have much on there. Personally, I would rather have the gateways and wallets physically local so they fall under local jurisdiction since they are not transparent. Cbeast,
Why ship gold when you can store it for free and liquidate into anything on ripple, anytime anywhere?
As soon as there are other gold gateways in other locations you can effectively move it without moving it...
Who independently audits your service that it matches records at your partner's vaults? I'm not saying your record keeping could be wrong, but your partner's may dispute your records and there would need to be independent verification. I have not found that assurance on your website. Also on your ToS "Right To Redeem (RTR): means the redeemable electronic representation of an amount of currency or the troy ounce weight of an investment grade precious metal on the Ripple network." (emphasis mine) "All services are provided without warranty of any kind, either express or implied." I'm not questioning your integrity. It's just that the customer has little recourse in a dispute. To answer your question, if it isn't physical gold in your hand, then it's an investment derivative, not actual gold, marketing notwithstanding. Still, I commend you on taking part of a grand experiment. |
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They don't ship gold like Bitcoin accepting stores. You buy vouchers and hope they don't abscond with all your bitcoins. I will look at the source code if it can be used for trading colored coins. I am in the Philippines where there is a real need for exchanges for fiat to Bitcoin and B^2 coins. There really isn't much use here for Ripple yet. Filipinos like tangibles, and it's difficult enough to explain Bitcoin let alone Bitcoin IOUs. < snip...I guess it comes down to whose side you're on.>
It's not about sides but whatever. I gotta say though, it is frustrating when I see you not only don't know that Ripple is a working system, but that it's been open source since September of last year. Which means, you haven't looked at Ripple since before that. So, you're here talking and talking about something you don't know anything about, regurgitating talking points from early last year and I just find that quite disingenuous. Jokes on me I guess.  I still don't see a working system. Why is it taking so long to gain traction?
If I didn't trust my wife, I would be dead. That doesn't mean I trust your wife. If you don't see the difference, then this is a lost point to argue. Liquidity is not universally recognized. I can say the same thing: "The difference between your IOU's and mine, is that mine are liquid and yours aren't."
You could say it, but you'd be lying. Yours are locked in a centralized exchange. If they decide to halt withdrawals, you're screwed. If mine halts withdrawals, mine remain liquid, thus I can still trade them. They'll likely be worth a lot less but still liquid nonetheless. An exchange is centralized by definition. I'm curious about where you looked up that funky definition. Source? A decentralized exchange is a misnomer, they are distributed exchanges, but they still require trust and are centralized to a lesser degree.
How about the OTC market? How about the black market? How about the food chain (is god doing the arbitrage between supply and demand)? How about Ripple? Ah, yeah, we've already mentionned that one... Ripple's built in distributed exchange doesn't require any trust at all and is decentralized. What requires trust in Ripple is the redemption of IOUs, but that has nothing to do with the exchange in itself. You could start a day-trading business with the XRPs you get from a giveaway, and grow your stash by trading currency pairs on the distributed exchange without *ever* going through a gateway. Everything you would do would then be perfectly decentralized and trustless given the fact you just don't care about being able to redeem your IOUs. Liquidity is a function of the the risk.
Again, that's a very exotic definition of liquidity, but I guess you must have an equally exotic definition of risk that makes it fit all together. Source? They'll likely be worth a lot less but still liquid nonetheless. Or nothing. You could say Bitstamp has more liquidity, but to me in China, you'd be lying. It's a matter of perspective. Liquidity isn't a subjective quantity. It is an objective quantity based on the quantifiable availability of supply and demand for a given asset, that would allow you to open or close a position. What Coinseeker is telling you is that, if you hold the debt of an exchange (be it Bitstamp or BTCChina) as a balance at that exchange, and the exchange decides to suspend withdrawal, you have no way to sell back that debt and get back your funds since the exchange who is the only possible counterpart isn't buying back the balance (aka. not allowing you to redeem it to real assets). In other words, you are screwed. But if you hold debt of an exchange as Ripple IOUs, even if the exchange decides to suspend withdrawals, you will still be able to sell your IOUs on the Ripple internal market to third party participants. You will suffer a mark down due to the situation, but you'll still be able to close your position. So to make a long story short, If you are using Ripple to hold your exchange balances: - when there is no problem at the exchange, the liquidity of your assets = liquidity at the exchange + liquidity in Ripple. - when withdrawal are suspended at the exchange, the liquidity of your assets = liquidity in Ripple. If you are holding your balance directly at the exchange: - when there is no problem at the exchange, the liquidity of your assets = liquidity at the exchange - when withdrawal are suspended at the exchange, the liquidity of your assets = no liquidity at all You can see that no matter how you look at it, balances held as Ripple IOUs are more liquid than balances held at the issuer exhange. It's not even a matter to debate, it's just a hard fact. We'll have to agree to disagree on liquidity. Tell China and Russia they have nothing to worry about with American bonds. They are AAA rated by America.
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Licensed registered brokers only. Then a SR type exchange with Ripple to trade hookers and blow for Bitcoin. /S
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At this point in the discussion, can we safely say that "The difference between Ripple and Bitcoin" is ... Bitcoin?
Ripple advocates are inclusive. They are advocates of Ripple, Bitcoin, and currency choice in general. Bitcoin advocates, who are not also Ripple advocates, are divisive. They see Bitcoin and Ripple as competing systems. Not true. Ripple isn't a working system yet. Ripple is competing with colored coin, mastercoin, and all the altcoins. Ripple is an untested idea at this point. I am open minded, but can't I wait until there is published sourcecode for the clients and gateways before getting behind it? Let's see some gold trading advertised for Ripple. |
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If I didn't trust my wife, I would be dead. That doesn't mean I trust your wife. If you don't see the difference, then this is a lost point to argue. Liquidity is not universally recognized. I can say the same thing: "The difference between your IOU's and mine, is that mine are liquid and yours aren't."
You could say it, but you'd be lying. Yours are locked in a centralized exchange. If they decide to halt withdrawals, you're screwed. If mine halts withdrawals, mine remain liquid, thus I can still trade them. They'll likely be worth a lot less but still liquid nonetheless. An exchange is centralized by definition. A decentralized exchange is a misnomer, they are distributed exchanges, but they still require trust and are centralized to a lesser degree. Like mining pools, there is much debate about how they should operate. Liquidity is a function of the the risk. Exchanges are all high risk. My liquidity and your liquidity are apples and oranges. If you are on Bitstamp in the USA and I am on BTCChina in Beijing, then arbitrage is very difficult. I don't think Ripple transactions from BTCChina will be any more accepted by Bitstamp than their vouchers. They'll likely be worth a lot less but still liquid nonetheless. Or nothing. You could say Bitstamp has more liquidity, but to me in China, you'd be lying. It's a matter of perspective. Unless your exchange is insured against failure or Ripple is somehow able to create trust between enemy economies, then I see little chance of surviving unless by force. Bitcoin has little chance of failure except by force. I guess it comes down to whose side you're on. |
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Armory does this. http://www.bitescrow.org/ too. Casascius had a tool once that could create M of N where N<=8 as a Shamir's Secret Sharing tool. |
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Haters gonna hate. It's hilarious.
Why you think I'm hating?...I'm not hating, I'm just stating reality from my view. Not you, I don't engage in petty insults unless I am both inebriated and well provoked. That comment was aimed at the reason people fear Bitcoin. |
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