Given points 1) and 2) I feel satisfied with the explanation.
But ideally prepayment penalties would make sense as it would give incentives to lenders to offer longer term loans.
no, thats traditional-banking bullshit, we dont need no "penalties" and such stuff Seriously, the exploit that it is possible to get loans interest free (or whatever that's now called) is known, it is not THAT hard to find out the time when this is calculated every hour and I also have been bitten by this every once in a while - it seems during a rally borrowers just take whatever is there, wait a bit until new lending offers pop up and then take these, cancelling the existing ones. Unfortunately Bitfinex does NOT seem to do interest calculation once an order completes over its lifetime or since the last midnight payment, whatever is shorter, but rather every hour on all active ones, for whatever weird reason. This would be only fair, not a penalty to pay lenders for at least e.g. 1 hour or 1 day no matter how short in time a loan was taken since again it is possible to end up with nothing. Especially bad if you don't renew loans or don't use autolend and this just gets cancelled. |
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Maybe Ripple Labs should set up a Bridge for Peercoin, my favorite currency  . That is not the job of RippleLabs and that is the reason why Ripple is built as distributed ledger system instead of merely running centralized like PayPal: You can build this bridge yourself, proof to others that they can trust you and then operate the bridge and gateway on your own. It is not RippleLabs business model to build every conceivable currency and storage facility there is out there, Ripple is a building block and protocol, not a company. RL doesn't operate gateways, they don't earn fees and they don't charge anything for their software. |
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1.3 Fund your wallet(ripple wallet need at least 20 XRP as a reserve.)
It is recommended to have 31 XRP as funding: 20 for the base reserve, 5 for a trust line for your NXT issuer (or any other gateway you want to initially use), 5 more for a trade offer and 1 more to pay for ~100k transactions. Beyond that you do not ned to deal with XRP any more, unless you want to trade a lot or choose to buy/sell them. There are some sites out there that give you a BTC deposit address and ask for your Ripple address, then convert + send funds there (you send BTC to the deposit and receive XRP) - I haven't used them though, so no recommendation by me. Once there is a market against XRP by the way, you can trade indirectly for a LOT of currencies on Ripple - USD, BTC, CNY, EUR, LTC are only the more liquid ones, there's even more. |
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Well, comments in the chrome store talk about "open source" - so where's the code + license at?
I hope it does not use 3rd party sites like blockchain.info to get information about accounts etc.
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You forgot to mention that Erik Voorhees, was the owner and founder of SatoshiDice.
And also of "Feed Ze Birds"...  |
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is there a minimum amount, which I have to use if I want to lend money?
10 USD when using Autolend, 100 USD when manually opening a Lending offer (or whatever they call that now). No idea about BTC and LTC amounts, likely in the same region (e.g. 0.1 and 0.01 BTC?) |
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Ripple is an eyesore. PPC and NMC even has higher trading volume than XRP.
The volume reported on XRP is taken from BTC.Bitstamp/XRP only. There are more markets trading XRP out there. Also this is coinmarketcap.com not cointradevolume.com. Maybe make the selection of the "Filter Non-Mineable" change the URL? coinmarketcap.com/only-mineable.html or something like that...? Though a lot of XRP still hasn't been distributed, in theory they can be spent and traded any minute - all of them. This is different to e.g. Bitcoin, where only coins that were mined can be spent/traded. |
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Prorietary yes, check out btsync.
Bittorrent inc acts like huge jerks regarding open source development on that one though.
Otherwise bittorrent is really intended for static files, just imagine first offering a popular file and then switching it out for something illegal or something containing a backdoor or virus as soon as it gained traction.
It might be worth the time and hassle to decompile btsync and document their inner workings, to implement a open source version of it or something similar. After all it is mostly a way to share info hashes with certain nodes on the dht as far as I get it.
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There could be an RSS feed, usually torrent clients assume that a new item there is a completely new file though, so it would not build upon existing data and lead to a lot of redundant downloads between seeders over time. Also a concern is that there might not be enough seeders anyways, if the file changes every few days (though that's not really a concern with RSS feeds...). Also verifiability of the file might be a bit more difficult, this one is quite proven compared to something that changes often.
I guess with recent improvements (header first sync) a lot of downloading issues of the client will anyways be gone, so I'm unsure if it would pay off to invest time into a better solution for bootstrap.dat files instead of just waiting for the next bitcoin-qt release that has the potential of coming up to sync very fast anyways.
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I guess you mean "more current", not "actual"?
Anyways, the latest check point in bitcoin's source code is from block 250000, this is what this torrent contains. If you want a more recent checkpoint, feel free to create a pull request with a more recent hash, I guess we could have an updated torrent then as well.
I don't know how soon 0.9 will be released, most likely it will contain a more recent check point and this topic will be updated.
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Well, dealing with stuff that is not designed to be digital (e.g. most currencies on that planet) makes it really hard to apply the same measures as Bitcoin. After all, that's probably one of the reasons Bitcoin was invented in the first place. Ripple definitely improves dealing with arbitrary assets, imho as much as possible - maybe in the future even more might be possible (BitShares for example tries to do something that goes potentially beyond IOUs), for the moment it seems to be one of the best and most developed solutions out there. If you claim to understand Ripple, show us a real use case and not some hypothetical example to articulate the benefits.
Ripple can be MUCH easier explained and understood (how it works + the use cases) if you compare it to BitPay, not Bitcoin. Some potential use case of Bitcoin seems to be for some people to act somehow like XRP in the global financial system (e.g. you buy BTC for USD, send them back home to Egypt and sell them for your local currency there), maybe that's why they don't see the use case for Ripple itself too or feel that it threatens BTC by making XRP more useful than BTC on their system. |
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Wäre es möglich, die Skripte auch irgendwie auf Ledger-cli umzumodeln? Damit kann man eventuell mehr machen als mit mysql... Tolle Initiative übrigens und auch wenn es mich als Nichtdeutschen ja nicht so betrifft trotzdem auch noch vielen Dank, dass du das so öffentlich zur Verfügung stellst! |
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You have some wrong statements in there (e.g. "Ripple is funded by google"), the giveaway has been announced here multiple times and it just looks like you want to push your digitalocean refcode with this.
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Nah, I didn't "invest" a lot in BTC back in the day and I won't buy XRP either. I'm happy with what I got for free and rather earn money doing something productive with either system (e.g. building merchant services).
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So how is it be open source and not open source at the same time, exactly? That at least you can surely stick around to answer.
The page is simply wrong/outdated in that regard, all code necessary to run a validator is publicly available (before that access was only granted on demand to a few dozen developers outside OpenCoin) under an MIT license (just like Bitcoin-QT) on github: https://github.com/rippleThe server is called "rippled", the client "ripple-client" and it uses the JavaScript library "ripple-lib". Also quite a few other projects are also available in source code there (e.g. a market overview page). There is nothing that can or will stop you from bootstrapping/running your own Ripple network or forking it other than the limitation that this can't be called "Ripple" any more (similar to Litecoin, Dogecoin, Namecoin, ...coin which use mostly bitcoin code but not the Satoshi block chain). |
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Its incredibly difficult to get bitcoins out of ripple without giving some service provider your government ID. I have some bitstamp coins stuck simply because I dont want to do this.
Avoid.
Wrong, you can simply put a Bitcoin address in the "send to" box and send BTC from within Ripple federated anonymously by Bitstamp. No ID or anything needed. Guy looks like he knows his stuff. I would like to see someone refute his claims if such a thing is possible. Something more substantial than attacking the messenger.
I did, multiple times already. I stopped doing that though, since it really doesn't help anyways to eliminate suspicions (I just get called "shill" "protecting my investment in that obvious scam" and whatnot) and is not really worth my time. If you want to read a bit, feel free to check my post history here, on ripple.com or Reddit. |
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I'd rather see "no fee" defaults and then allowing to attach fees to transactions to allow for something like an auction where you bid higher and higher until you get included in a block.
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