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Haha you should of warned us Satoshi Nakamoto was present in the audience making his first "public appearance" announcing bitcoin is German  |
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Very interesting read, keep the discussion coming will certainly be keeping an eye on this project.
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Good for you and best of luck as others have said please keep us updated.
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Sorry I might have missed your response but a previous member asked about the ETA for ripple gateway. Any Update?
The recent explosion in our user base has put this on the back burner for now. I'd say an optimistic estimate is that we get enough of a breather sometime in January that we can start working on it again and maybe bring the gateway online sometime in February. Cool, thanks for the response, Looking forward to it. |
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I'm with ya'!! Normal people don't wanna check stuff. With brick and mortar banks and physical stock certificates, it was much easier. Unfortunately, in a blossoming new sector like this, you can't accept just anyone as being a Ripple gateway.
I've heard many comparisons of Bitcoin to gold....and that's exactly how I view it. I LIKE the fact that it takes 10 minutes. It gives Bitcoin gravitas.
I hope Ripple Labs uses the moola that they just got in a vetted competition for venture capital to narrow the learning curve of Ripple for people....because, you're right, it is a bit daunting. Hell, it took me a over a week and a group of 4 friends to conceptualize it.
The easiest way to understand the Ripple system is to think of it as a checking account. You deposit money in a bank (Gateway)...they give you a bunch of IOUs (checks). You can have a check made out in advance for a friend at $10 (create a 'trustline' of $10)....and he can pass it along to whoever he wants (Fill in the Pay To The Order Of). When it gets back to the bank (Gateway) it is redeemed for currency. ....
Unlike banks though, it can be done instantly, to anyone, anywhere, at anytime, in any currency without those DAMN fees that the bank keeps charging me!! XRP is merely the container/envelope/postage stamp for that service. It's function is to prevent morons from overwhelming the system with b.s. transactions. XRP is not an investment. It's a tool.
THAT is cool! :-)
Very good explanation  It definitely does take time for people to fully conceptualise it, I think ripple labs are on the right track with their Ripple Primer white paper but a variety of resources is required as people have differing learning techniques. |
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Are you still providing this service? Really like the great feedback you got so far from other members.
Would be interested in using it if still operational.
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Totally agree ripple is awesome, The concept does take a bit of getting used to especially if you're new to CC.
I definitely believe it has a lot of potential, There is a lot of misunderstanding of Ripple atm and a lot of detractors who do believe the currency XRP is too centralised for their liking. I personally find the open sourced Ripple protocol and the decentralised echange a lot more interesting and if operated correctly is a game changer for Bitcoin and International finance.
I do believe it's a bit scattered at the moment with a lot users utilising it differently, somewhere users could communicate and form partnerships on or off Ripple would be great.
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As others have stated it is early days, patience will be required it does take a lot of technological, legal and financial resources
to start and run an exchange effectively.
Hopefully others who are looking to start are reading the feedback, and will learn from
problems the early exchanges have had.
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It's really annoying but understandable with all the attacks they recieve. Another big annoyance is how often the site go's down even with all the precautions. Guess hackers/spammers just don't let up  |
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Certainly would be great, It would be a good market fit too with so many early adopters using both bitcoin and funding kickstarter projects.
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Sorry I might have missed your response but a previous member asked about the ETA for ripple gateway. Any Update?
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I am playing around with the idea of creating a Pinoy Coin, suitable for remittances, and for transacting in Philippines mostly. Was also thinking of how to limit mining to just people in the Philippines, not even sure that is possible yet, or if it is a wise move security wise. Any feedback or ideas on this most welcome.
Interesting idea, I would certainly be interested. There is definitely a need to make remittence to Philippines using CC a lot easier. |
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This has so many liability issues, that any company that would actually use drones commercially for delivery or otherwise better have some deep pockets and the very best lawyers.
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