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It basically means "you already know my opinion of the assholes at FinCEN, and there's really nothing else productive that can be said at this point."
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Unfortunately, this is not closer to the singularity, but farther away from it than Ripple. Why would we go to offchain transactions with more moving parts when we have a far superior fully integrated platform? Ripple does more than just solve the "multiple currency" transaction problem - it provides a more efficient validation and confirmation ledger platform. Mining is unnecessary and inefficient in the long run. We will see higher and higher transaction fees as Bitcoin adoption increases if the block size does not increase. With so many systems and so many moving parts and bottlenecks, a Bitmessage/Open Transaction/Bitcoin build appears inferior from a Universal standpoint to an integrated Ripple platform.
I'm so happy to hear that ripple has everything baked right in. Could you point me to the APIs for issuance and management of blinded cash tokens? I seem to have missed them somehow... |
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It's just a safe place to store coins, ON THE BLOCKCHAIN, so that an OT server can issue units based on those coins, yet without having the ultimate power to disappear with those coins.
And if the OT server can't steal the actual coins externally on the blockchain, and if it can't forge receipts internally in its own system, then the coins are much more safe than if the transaction server was directly holding them (as we see in the Bitcoin community today.)
It's also safer than storing the BTC on a ripple gateway. |
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Those who forget the past are doomed to repeat it, and they look like teenage boys who act as if they've invented beer, girls, and loud music for the first time in all of human history.
So true. Just stop and think about how many times throughout history people have tried to take back their economic freedom using peer-to-peer cryptocurrencies and have failed miserably. |
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Well besides the fact that all modern democracies are constitutionally mandated to protect minority rights your point is without much substance LOL. I am the minority that does not want to be forced to pay taxes and wants to be left alone. Tell me how this is protected by a constitution (an object class paper with toner and ink on it). +1 Western democracies absolutely do not protect minorities. The only way you can be protected is through the mathematics of prime numbers. |
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I still cannot believe, how people dont think that Hal Finney Is Satoshi.
A guy who published a method on "Detecting Double-Spending" in 1993,
I mean come on, the internet was not even invented and he has thought about this.
Interesting conjecture. From the "Bitcoin and Me (Hal Finney)" thread: ALS is a disease that kills moter neurons, which carry signals from the brain to the muscles. It causes first weakness, then gradually increasing paralysis. It is usually fatal in 2 to 5 years. My symptoms were mild at first and I continued to work, but fatigue and voice problems forced me to retire in early 2011. The timing correlates quite well with Satoshi's disappearance. Also, Hal would have an old-school coding style consistent with Satoshi's. I'm of the opinion that Satoshi is a single individual. There are a number of people from the old cypherpunks list who could have pulled it off. |
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Lol ripples are not Bitcoin.
I love the stretch to make it relevant. This thread needs to be moved to marketplace.
While I'm not in the "ripple is a scam" population, it nonetheless is remarkable to what extent ripple promoters are trying to ride Bitcoin's coattails. Use the Bitcoin Conference to promote your agenda and recruit converts, use the main Bitcoin Discussion forum to advertise your currency exchange, compare yourself to Bitcoin on your website, sign up Bitcoin exchanges as ripple gateways, etc. |
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My reply to "SEC agent" is that Bitcoin is just the beginning of the war against government-controlled money. Soon there will be Ripple and Open Transactions and truly-anonymous, untraceable digital currencies. Bitcoin should serve as a warning to all the governments that fail to respect the freedom and privacy of their citizens; embrace change or you are next. You were given multiple warnings and chances to operate within your constitutions, but you refused. If you are an employee of one of these governments, know that you are also risking your job and the value of your fiat-currency-denominated savings. You have been forewarned.
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Shouldn't this be in Marketplace > Currency Exchange?
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Also, for Chrome users, heres a tip:
Don't use Chrome, ever. It has security holes big enough to sail the Titanic through, thanks to Google's never-ending thirst for your private data. Use SRWare Iron instead. Sorry to hear of your loss. |
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I'm persuaded that in the end the power of cryptography will pose society a stark choice between radical liberty or tyranny, as described here. Thanks for the link. I hadn't read that in years and miss Tim May the firebrand. |
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Looks like the price of coin is still rising, lol.
That is exactly what the value of an un-seizable asset should do in the presence of seizures. |
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Right, you shouldn't keep a lot of Bitcoins as IOUs in Ripple. However, there's nothing wrong with keeping a minimal amount there, only what's necessary for creating and exchanging IOUs for products or services from merchants. Let's not ignore Ripple's utility for offloading some of the transaction volume from the block chain.
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As for those Bitcoin users who like their coins to be fungible, I'm one of a few people looking into how to create a mixing capability within Bitcoin itself that will let you automatically mix your coins with others, potentially as often as every transaction you make.
You're not alone. Fungibility is an important property of money, and I'd be opposed to anything which reduces Bitcoin's fungibility and therefore value. I think the OP's proposal does not take into account how the Satoshi client/server works. Accounts are not equivalent to addresses. If bitcoind is used to operate an online wallet, then a withdrawal from any given account will not necessarily use the same coins that were deposited. It all depends on how many other transactions have occurred and in what amounts. So, a thief could deposit his booty in an online wallet, and some innocent person will very likely receive the tainted coins. |
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My speculation: Ripple is going to save Bitcoin from itself. Ripple is that avenue that will allow Bitcoin to reach it's true value potential. While many stand against Ripple (and there is much to be proven by OpenCoin) I think if all goes as planned, these same people will be thanking Ripple when they look at the new worth of their Bitcoin stashes. IMO of course.
This is my view as well. Ripple brings to Bitcoin a way to improve transaction speed and liquidity. Bitcoin brings to Ripple a way to store value that's been proven secure in the real world (the core protocol, at least), can be traded offline, requires zero trust and which has a democratic distribution mechanism. |
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we're talking about the Ripple network itself, ie, gateways and validators which are centralized, and can be shutdown.
Someone correct me if I'm wrong, but I see no reason a gateway couldn't operate over Tor. It could issue and monitor Bitcoin addresses and make appropriate IOU changes on the Ripple side (or go in the opposite direction). The only problem, again, is going into and out of cold, hard fiat cash. However, if you can trade that anonymous gateway's IOU for one in another currency that a merchant will accept as payment for a product or service you want to buy, then maybe you don't need the fiat cash after all. Just keep the minimum amount of IOUs necessary to handle your cash flow on the Ripple side and keep the rest in your Bitcoin wallet. Offload most of the transaction volume to the Ripple system and leave Bitcoin to do what it does best, store value. |
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Whatever happened to the green address idea?
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All this argument is silly. Ripple and Bitcoin each have their strengths and weaknesses, and we should be spending our efforts integrating the two, like what DividendRippler has done, rather than arguing which one is better. Neither of them provide true anonymous, untraceable digital cash, and for that we need Open Transactions. So let's get busy developing a fully-integrated ecosystem between the three.
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