like i said before:
in Bitcoin, exchanges aren't critical for the network to funcition.
whereas in Ripple, licensed trusted financial institutions, are.
In Bitcoin you can ONLY get other Bitcoins (that you "own") or untradeable and implicit IOUs in transactions. In Ripple you can get XRP (that you "own") or tradeable and explicit IOUs in transactions. Ripple is complementing Bitcoin, not trying to replace it. You can use it if you either trust somebody else (e.g. a gateway) or if you are trusted yourself (so others will accept your IOUs and you are the gateway), no matter the actual currency. |
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It doesn't really interest me at all. I've been having a great time buying bitcoins and I havn't sent a penny to an exchange site yet. Localbitcoins all the way!
Did you keep them in escrow there or always do face2face cash transactions? Even then (as these transactions are not atomic) you had a few seconds where one party had a virtual IOU outstanding to the other party, either in USD/EUR/otherfiat or BTC. |
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Can Ripple automatically calculate the optimal values of these exchange rates to compensate for default risk, or will setting those require some out of band information?
Default risk can only be perceived externally, as it is an event that is most likely only happening once (e.g. pirateat40 paid consistently every last Bitcent until it all went POOF and then he consistently paid 0 Bitcents any more). Also Web of Trust ratings won't help much (again: pirateat40 had a flawless and highly rated WOT account). There might be some service option similar to rating agencies that might release their opinions in a format that oyu can plug it into your Ripple client automatically, but still knowing the real risk is not something that can be really calculated. |
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I'm not involved in this, but really feel badly for all involved. I would just say to contract holders, what would you do if you were in giga's shoes? He had no way to anticipate the exchange would close and seems to be doing everything possible to make things right. The real jerks are the ones who closed the exchange suddenly, leaving issuers and holders of securities to try and sort things out.
I would have honored my agreement so far (= pay dividends), offered to pay out share holders or let them register as "proper" share/contract holders. After all we anyways did/do not own a part of VPS LLC but only are renting a service that is similar to Amazon's compute cloud, only a bit more specialized. I would not have offered a "valid until forever" mining contract to begin with though... |
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This was most likely because closure (2 inputs being viewed as belonging to the exact same person) is not a 100% measure, as demonstrated some time ago where someone asked others to sign some transactions with him to add his coins to their closure calculation and vice versa.
The code is open source, so it is not hard to find any scams in it... Please be careful with your accusations, maybe this is why he left?!
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Mit einem Laptop wirst du wohl nur Bitcoins verdienen können wenn du ihn verkaufst...
Wenn du ohnehin Geld für den Strom ausgeben musst, kannst du ja auch gleich direkt das Geld für Coins ausgeben. Dürfte auch einiges mehr dabei rausschauen.
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Saying that too much community input would slow down your development is a cop-out because you could release the code for people to review and ignore input...but that would also be somewhat awkward ignoring customer base input. https://en.bitcoin.it/wiki/Hardfork_WishlistThis list wouldn't have to exist if bitcoin was still centralized. There are several good and maybe even necessary items on that list that might never make it into bitcoin, thus weakening it, just because it is already completely open. It's not my position to judge, still maybe this helps you understanding why ripple didn't release their full node code yet - to still have the freedom to implement changes of this kind. |
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I have to take back my words for calling you silly, because you are a complete RETARD to even compare ASIC to Opencoin.
[snip]
Ripple should stop bribing retard like you to promote their system. It's hurting them more than their badly written wiki and website.
*sigh* The only people who I know of that received money to voice their opinion about Ripple are the ones paid by the operator(s) of the page "ripplescam.org". All XRP that I received were in the giveaway with no strings attached and I choose my words freely (both as in freedom and free beer...). Creating a Ripple system is also not too difficult and the implementation by OpenCoin is also not the first one in existence. I am simply saying that ASICs are (mostly, as Avalon apparently released their sources) even more closed than OpenCoin and they are running Bitcoin right now. It doesn't matter if they are easy to make or hard to come by, at the moment most likely more than 50% of mining power is in the hands of advanced closed source chips and no matter how distributed and open the protocol above them is, there is a greater than 0 chance that these devices contain (intentionally or not) malicious code (in the form of synthesized hardware) that can severely harm the Bitcoin network. i know b/c i looked at them just last week. i'm sure they're on the wiki the link of which i don't have right now.
Seems like they have a repo at github: https://github.com/BitSyncom/avalon-refFrom there (emphasis mine): current version of FPGA bitstream contains licensed parts we can not open source at the moment, a licensed free version is being worked on that will be released in the future. Looks like they have similar issues to OpenCoin (though probably rather library related, not hard fork/network rules related). Anyways, thanks for the heads up, interesting stuff nevertheless! |
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Avalon has released their schematics.
Interesting, thanks for that info!  My complaint still stands with ASICminer and BFL though. Do you have a link by the way, it's been a while since I was browsing the mining subforums... Edit: Both "+1" as well as the (opposite?) "lol" comments are jsut unnecessary spam, these threads get derailed already enough already as is...  |
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Have you actually tried to get access to their server code or are you just reiterating over and over the same "arguments"? Will you change your stance once they are providing an Open Source server implementation?
Don't be silly. Why would a for-profit organisation ever release the server implementation? Where people will fork immediately and all their effort to scam the world with 100 billion premined XRP goes down the drain. Well, as soon as there is a non-XRP fork with more than just a little attention, it is likely to be transaction-spammed into oblivion. XRP serve the same purpose as standard tape transactions and block size limits in Bitcoin: They are anti spam measurements. Also there is the expressed intent of OpenCoin to release the code. About ASICs: They actually DO run the Bitcoin network right now. They run an open protocol (like for example HTTP) on a closed source machine (e.g. Microsoft IIS). You have NO IDEA what they might do in the future, no way of making sure they will play by the rules in the future and in comparison to OpenCoin no expressed intention at all by ASIC manufactureres to ever release any of their schematics. The Ripple client (and some 3rd party re-implementations of it) is already open source, much like Bitcoin and the Bitcoin protocol itself. The validator (=server) code is as closed as are ASICs. Ripple is already documented well enough that you might even start wirting your own server already. If you actually ask instead of crying about it on the forums, there is also a quite good chance that you get early access to their server code as well. |
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If OpenCoin is so "open" why isn't their source open yet?
Anyone with closed source code can claim whatever they want with no real proof.
Why not open the source so the truth of how ripple is truly structure in the code is exposed? This reminds me of solidcoin 2 and micro cash which was closed source.
Have you actually tried to get access to their server code or are you just reiterating over and over the same "arguments"? Will you change your stance once they are providing an Open Source server implementation? Oh, also where are the source files for the ASICs being sold and which make up a major part of the Bitcoin network by now? What's to stop them taking over the network by 1.1.2014? |
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There's an open source client out there, the Ripple ledger works quite similar to the Bitcoin one and I'm willing to take (escrowed) bets that XRP will NOT be inflated until they go OpenSource.
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The only people I know of in this forum that get paid to deliver a certain message are the ones with this link in their signature...  Could we please get back to topic and focus on the viability of ripple as an exchange? There are enough threads out there where you can endlessly discuss your scam theories. As far as I understand it, they actually are based on the same crypto, what's the thing that makes you doubt it? Also they can print more xrp only with some serious effort and would risk their reputation. I tried placing a bet that this won't happen on bitbet but it wasn't accepted. I'm willing to bet with you (escrowed of course) however privately if you like - put your money where your mouth is! |
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Is there a way to get for example only the internal order book? If I want to calculate how much I can exactly (!) get if I trade my 10 USD interest for btc, I currently can't do that. For that I'd need the current fee model and a way to show which order is from where.
Also for my use case (trading interest received) I would need a way to move funds between wallets.
And last but not least I'd need a way to get a ledger (similar to the history page) to see how high the interest actually was.
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300 XRP are about the price of a Big Mac menu depending on the current rate on Bitstamp... or you can just offer some BTC here to get a few (for example an offer of 0.1 BTC for ~1000 XRP might be ok for both parties - it's above market but not too expensive).
IOU issuers won't exchange anything - that's the point in Ripple. IOU issuers only would focus on enabling people to deposit e.g. 1 LTC and receiving 1 LTC IOU in return that can later be redeemed for this 1 LTC. If this LTC gets exchanged or whatnot is of no concern to the gateway.
What's lacking might be an (OpenSource?) implementation of a client that can automatically issue/redeem IOUs on Ripple + has a connection to a bitcoin style RPC interface.
Real time trading might not really be possible (in the sense of <1ms latency), fast trades (in the range of few or less than 1 second for a trade) might work however.
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Your Ripple deposit option seems to not work out so well... I got cloudflare warnings for your page going offline twice now after trying to make you find my BTC deposit via transaction hash. Also I'm not too sure if I did it correctly with the ?d=... part attached to the address - the Ripple client unfortunately isn't very verbose on this and there is no documentation on your end.
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Haben mal ne Zeit lang ziemlich auf Facebook gespammt, ich hab mir da nen Account aufgemacht und reingeschaut aber irgendwie finde ich es überflüssig... in Verbindung mit deren dummer Idee, eine von ihnen kontrollierte zentralisierte Korbwährung einzuführen und die auch noch explizit gegen Bitcoin aufzustellen (da vertraue ich ja sogar Paypal noch mehr!) wird deren Verein wohl auch kaum mehr als meine Mailadresse zu Gesicht bekommen.
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Something different:
The official Ripple client is wonky at best and unreliable at worst when it comes to actual trading - offers that are displayed under "My offers" are not integrated into the order book or randomly disappear from there when you reload the client. There is no mention of transfer fees until they actually hit you (WTF WeExchange!). Issuers of IOUs are rarely displayed, so if you deal in several BTC IOUs, you don't know which ones you just traded.
These are mostly interface and maybe connectivity issues, but these were the more annoying things that immediately struck me. Trading itself went quite smooth and quick and I made quite some nice deals so far. Let's see how this develops.
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Well, you can use them to scam people who are stupid noobish enough to trust you and acquire some actually redeemable BTC later on. Not worth 0.1 BTC to me though... |
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Tonight Peter v announced he will be replaced as the exec director of the btc foundation. We will know in a week or two who will be his replacement.
Also the twins presentation was awesome. The posed the question:
"We have VoIP and Skype came along. Now we have Bitcoin, who will come along and do the same as Skype did?"
Their solution (marketed by their own social network Zurker ( http://www.zurker.com/)): https://www.preferzen.com/Did they even mention that one? Please someone approach them and ask them about it... |
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