That is exactly my point if KNC or some other asic manufacture where to decide that it would be advantageous to control the network could they not plug in their tera-hash units and have 51 percent of the network and do as they pleased? 

Correct me if I am wrong this stuff is admittedly over my head. I really dont care about the details of why it works just that it works. I leave it up to tech nerds to figure out the detials

But dont I have to trust miners?

And with asics coming out that are tera-hash units I dont care what anyone says having that much computing power does re-centralize a decentralized network anyone can see that cpu mining would be less centralized then asic mining and from my view point it makes it much more probable that the network could be taken over and parts of the blockchain rewritten?

So my question is dont I have to trust third party institutions like KNC to not pervert the network?       

This conversation has become way to technical for me. Please give an analogy. Laymens terms guys. We know that the two of you get please include the rest of us.

I dont see any reason that a centralized system can become decentralized.  TF it sounds like the man is saying that yes they control the network for now but are working to change that.

I know you say the wiki says it isnt possible but is also says it is closed source, which as of today is not true  

Couldnt i just become a verifyer and and say I am opencoin? and if enough people did that wouldn't it become decentralized?

Wouldnt it go from people saying I am opencoin to we are opencoin?

 validators in their UNLs?   In layman's terms?

Do ripple developers have any plans of offering insured transactions? That is what will make this work.  


Is that you or Jerry Garcia?  

Sorry I still have not figured out how to quote properly

"That won't do anything. The software is out there. Right now, we do run all the validators that people use, but if we disappeared, others would do so. One of our top priorities now is to distribute the set of validators and set up an infrastructure to make that self-regulating and decentralized."

How will people get paid for doing that work?

Someone mind looking over these and providing a few answers?

https://bitcointalk.org/index.php?topic=303114.0

That is his thing he always post in red.

"Take it from an American, to many of us it sounds that way too. And their obliviousness to how they sound is the most frustrating part."




+1

Disclaimer *I have never used ripple and have found it to be confusing, I dont know the details of how the system works.*


Joel I have a few questions for you and the development team. I know that you know I have been somewhat hostile toward ripple and to be honest you personally, but i want to clear the air and talk about this project and discuses how it is implemented, its attributes and shortcomings. I do admire the project if for no other fact than that you boys realize that money is and has always been an IOU. Many PhD's of economics don't understand the credit theory of money and even more financial advisers, so kudos to you on that. Money is and has always been a promise. I dont know if you are aware that I have been selling coins for the last year for reversible methods? I think of it as buying and selling trust, I believe that the only way for bitcoin to work is through a trust network. Which is very much in line with what i understand of the Ripple network. So here are a few questions that I have, and please anyone that has input feel free to interject.

*First how can a centralized institution ever be secure? We have seen the problems that bitcoin has encountered and watched bitinstant, liberty reserve and Mt Gox all cave under the regulatory pressures from the US government. What would make ripple any different? It is all in one spot if they wanted to shut you down it wouldnt be much of a problem they just show up at your office and pull the plug.

*How can we trust Ripple? You own the servers and issue the currency. How could we ever know that there is not a backdoor that would allow the dev. to create currency at will?

*Why cant you import trust? One of the most aggravating things for me when i decided to join the bitcoin community is that no one would look at outside factors in gauging my trustworthiness. The ass hats in OTC gave me an insanely hard time and wouldnt accept any information that I provided to support my reputation. The best indication of future behavior is past behavior. If you want to build a trust network then people should be able to import trust from other sites. I trust someone who has 5000 online ebay sales with 100 percent positive feedback. Why couldnt you import that trust and let people choose to accept or deny it?

*Why dont you offer ID verification? Someones willingness to Id goes a long way in establishing their credibility. Anonymity and trustworthiness do not go together

*Isnt the only real benefit to ripple over the trust system here on bitcoin talk is that it allows you to borrow from people who trust people that you trust?

*You have said that the problem with ripple at the moment is the same problem BTC has in that it is very difficult to get fiat in and out of the system, Why? If it is a system based on trust why wouldnt you let people import any kinds of funds they like. Why not let people import debit card, credit card and PP funds? Label the type of funds and let people choose if they are willing to transact for them?

*Who owns it and what are their motives? What is the mission statement?

*Dont you think that instead of using ripple if you let each user have their own currency the system would work much better? For instance I would have Chris North coins and You would have a Joel Katz coins and based on your assets and credibility the valuation would change? That way instead of blindly trusting people that the people I trust trust, instead there would transparency. The way that is set up now doesnt take into account that some people are a better judge of credibility than others. I dont want to trust people just because you do you might not be any good at assessing trustworthiness.


*My goal with digital currency is to defund the governments of the world, I have lost faith in the idea of bitcoin because i dont see any real advantages that it offers that will appeal to the masses. I realize it has some benefits but the average person is not gonna go out and start using coins. They dont know or care about the monetary system. The reasons to use bitcoin is not important to the average person. For it to gain widespread adoption it has to be better than what is already in place and it simply isn't and I dont really see how it can be. How can ripple change that?

*If someone is my trust network establishes a lot of trust then borrows from everyone in the network and cuts and runs can I lose out?

I have more questions and suggestions but I think this is a good start.    
    



    

This is a common business practice! my god people business want to appear busy! I have been given free play at the casino when the floor was empty, it looks bad when no one is playing. I have had club owners ask me and my buddies to come by for free drinks just so it looks like it is a cool place.

I see no problem at all. I understand the QT issue but if anything ever becomes of bitcoin the blockchain is gonna get long deal with it.

It is no big deal bro, I was pissed yesterday about it but any other time and I wouldnt much matter. The best thing that I have got out of bitcoin is meeting a bunch of trustworthy and freedom loving individuals.

Sorry about the neg rating but you admitted you where trying to get over, those kinda thoughts never enter my mind. I believe that you get much further in life treating people right then you will fucking them over, even if they are strangers. Honesty is truly the best policy. I am glad you came to your senses.

So often I meet people who only seem to be out for themselves they are always miserable, bitter, and petty. The douche above is a good example of that.

I have just lost faith in this idea for now and honestly if I dont believe in it as much as I hate the government and banks i dont see how the masses will ever accept it there is just no reason for them to. 

This is not unethical.

Like the man said if they pay their fees they can do what ever transactions they like.

Personally I think it is smart and the OP is a hater.

I fought for that when the trust system was introduced. Well i guess I should say that I threw in my 2 cent to the powers that be. I recommended that people only be able to rate based on actual trades and not just personal preference, but to be honest it all comes out in the wash.

If everyone can be rated no matter the trade history then it will basically even out and most people are intelligent enough to recognize false or non- trade based feedback. For instance i recognize that TBZ is a dick who thinks he can throw is weight around and rate people just because he has been around for a year or 2. 

Like I said who the fuck does he think he is? what a dick

It is just TBZ.. look at his post in currency exchange. I dont know the fuck he thinks he is?

Thanks again we have met so many wonderful people since we started this business over a year ago. The number of great trades and great people have out weight the negative by a huge margin. The vast majority of people do exactly what they say and are good people who have integrity.

Honestly I could keep going and be profitable, but it has been driving a wedge between me and my wife and this charge back was just at the wrong time. I had the the worst month ever on our ebay sales and this puts us in a bind. I make a lot more when I put my efforts other places and can no longer justify the risk. 

Thanks for all the great trades!

Nigerian scammer

2 more added another one of scotts pages and Joseph Nosakhare


https://www.facebook.com/osayamennosakhare

https://www.facebook.com/bitcoinfriend?fref=ts&ref=br_tf