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A person tweets magic tux, the programmer at mtgox asking '@MagicalTux Why add only Litecoin? PPCoin is a very interesting alternative crypto-currency incorporating Proof of stake'
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XRP is controlled by a central authority, who can print it at will or on a whim in the future So far there is no evidence that OpenCoin can create additional XRPs above the 100 billion that already existed in the genesis ledger. I am guessing since they decided to award themselves 80% of that 100 billion they can do whatever they see fit. |
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Just a heads up:
I sent this guy 9000XRP, he replied that he would send me the BTC in a minute and then he said his Ripple account was frozen and did not send me any BTC.
Is it even possible to get a Ripple account frozen?
How does the Ripple trust system come into play here? |
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Like I said I have no official connection to Ripple. I hold Bitcoins and XRPs. That's it!
If you're really familiar with the forums you will of course notice that I have been very active posting on a variety of topics. Nothing really exciting is happening in Bitcoinlandia. There was the SatoshiDICE spam / economically unspendable output stuff but that's blown over. In my opinion Ripple is the next big thing, so this is why I am active in any thread that mentions Ripple.
I will almost always respond in any Ripple thread where I can provide insights and facts based on the information that I have collected. You can see some of my earlier posts where I collected a lot of information. As I said before I shared all of the misgivings given by the OP. You can see that in the older posts. Unlike the trolls / naysayers I stuck with it and kept digging to find out if those fears were unfounded. It still sucks that they gave themselves all the money but that's life. Ripple will be big regardless.
I still stand by my previous posts on the matter. I also think you are underestimating how much the Foundation owning 80 billion XRP has smeared the reputation of the project. I've read that in every single Ripple topic I have opened up on this forum. Don't get me wrong I am all for developers monetising their work and being rewarded for their innovations but that is too greedy for me and a lot of other people. |
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Misterbigg;
what is your stake in ripple? You said it was nothing but you spend a LOT of time defending and promoting it. I will be blunt, this is one of the reason I do not like it. Because of the Inaba (oops, now I am BFL_Josh) constant promoting.
With the full court press, you all are giving this right now, it really reminds me of MLM (which to me is very similar to ponzi). You seem very intelligent but you interest in this is not just a passive defense, you post constantly about it, why?
Yeah I'm not only one then who has noticed this. I asked him yesterday if he was affiliated with Ripple and he said he had 'no official connection to Ripple'. I'm actually quite suspicious there are some Ripple shills on this forum. The guy who quoted my post in this topic to defend it for example, every single one of his posts is about Ripple and some of them are like freaking essays. I also noticed there was no mention of Ripple on this subforum for ages, it was dead, then out of nowhere this week I saw 3 different topics on the front page all created by new-ish accounts (march or so). |
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I think there should be:
- A give-away subforum for all the '1 free coin' topics. This will reduce forum clutter.
- A subforum for newly launched coins. Once the coin passes 4 weeks old it can then be posted about in the main alt crypto forum. This will make it easier to keep track of new coins and again, reduce clutter.
- A subforum for Litecoin, since it's bigger than all the other alternate cryptocurrencies combined in terms of market capitalisation
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Yes i know about pruning. Im not talking about the problem of the size of the blockchain. im talking about the limitation on the total number of transactions a miner can receive and thus record in a 10 minute period based on bandwidth limitations. That is if bitcoin became the dominate currency of the world, there would be so many requests for transactions that a miner couldn't possibly download them all as fast as they were being relayed.
I am confused. How does having more coins create more mining resources? If there were ten bitcoin clones and the transactions are being done across them, it will still take the same amount of mining no? Or am I misunderstanding? |
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I would sign it too if they would unfreeze my locked wallet/account which they frozen today out of the blue for no reason and giving no answer to my 2 e-mails I sent to them thus locking all my funds there.
Many of us have lost all access to our btc-e accounts for a long time now. The ones that did get back in found their coins gone. Good luck but I don't expect you'll get it back. Are you sure your account wasn't just hacked and the coins cleared out? I successfully did a 30k USD bank wire out of btc-e.com during this mess with no problems... |
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There's a lot of reasons why I don't like ripple. - It's closed source
- It's too centralised
- The founders have hoarded 100 billion XRP
- Too complicated
If people find Bitcoin too complicated they haven't got a hope in hell of wrapping their head around Ripple. |
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Except it seems they have a chicken/egg problem. The whole idea of using a crypto-currency is to avoid counterparty risk to the extreme (along with the speed/portability of digital media). That is the principle that most bitcoiners want in their currency. Here, we have Ripple/OpenCoin saying, hey look, theoretically we would have no incentive to dump our coins, stay closed source & centralized, harm other forks, comply with onerous government demands. However, the counterparty risk still currently exists. I don't care if they say, "We won't do that!". I want to know that they can't do that. Except that Ripple serves TWO functions (not just one, like Bitcoin). You can create a Ripple wallet, deposit money into your preferred gateway, send and receive payments in a cryptographically secure way, and redeem money at your preferred gateway, all without ever using XRP as a currency or holding a position in XRP. People from Bitcoinlandia tend to view other crypto-currency systems with in a myopic way. XRP are there only if you want them. They can be pretty useful to provide liquidity between U.S. dollar denominated IOUs from different gateways (and with the liquidity provider / arbitrageur making a small profit on the trade). Regular users won't see these behind the scenes activities, they will just enjoy the benefits of highly liquid markets and the network effects that Ripple allows. I feel very uncomfortable using a currency where one entity effectively controls 99.99% of all currency units. Right. And as I said you don't have to use XRP as a currency if you don't want to. Do you have some kind of affiliation or connection Ripple? Just asking because I see a lot of your posts are about Ripple... |
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Proudhon, may I ask what changed in two days to make you so bullish compared to two days ago?
Oh, I just began reading a lot about how much attention the infrastructure is getting, and it looks like people concerned with those things realize better now how robust and scalable their designs need to be, and it looks like developers are interested in building the right sort of systems. MtGox, in particular, seems to be doing much better now, even as we're seeing record trade volumes. As far as trading goes, the activity down to and around $50 looked bottom-ish enough that I think it probably is. It will be a struggle moving beyond last week, but it looks like the development community is serious about it. So basically, you bought back in and now you're bullish? |
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Liking all these PPC bulls in the house.
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no, bytecoin had superb launch.
- earlier notice of a launch
- full description how it would work , no hidden 250x rewards
- all binaries available at start, most importantly a 70% user-base windows QT
Not strictly true about the launch imo. Notice was given in the newbs forum. First I heard about it in this subforum was after it launched. |
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So everytime a bubble pops it goes exactly the same way as the bubble before? What is this physical law called?
No of course not. But we're in a crash right now and it's logical to compare it to the other major crash. We are not out of the woods yet. Third correction coming according to my math. |
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4. Signed sealed and delivered
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In the past we went from $30 to $2, that is a factor of fifteen decrease. It was sparked by a hack at mtgox, but even before that the conditions were ripe for a bubble pop.
And here we are this week, down to $72 from $270. Again sparked by trouble at mtgox, but even before that the sheer speed of the increase in price and general mass hysteria indicated a bubble pop was coming.
History repeats itself.
$270/15 = $18. But this isn't an exact science so I will settle for a round $20.
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V nice article. PPCoin snatching 3rd place for market capitalisation earned it a place in that story.
We are going to see more and more articles like this. It's a great story having these competing crypto currencies fighting each other, makes for an interesting read.
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are you sure its that much? dang that'll def affect the trc price. that explains why the price has been going down even amidst the hype
and pretty sure somebody mined like 200,000, you can see a major dump causing the down trend
yeah if you numbers are correct... trc better get a lot slower
That's what I counted. Let's check I am getting this right. This second it's 2,140,588 according to dustcoin.com, I'll be back in 24 hours. |
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So in the last 24 hours I've counted roughly 55k coins being produced for TRC, based around TRC's variable difficulty algorithm.
I'm also seeing a lot more coins flooding onto btc-e.com, whereas before they were pretty sparse.
Does 50k+ coins a day seem too much for a coin that is this mature? There are 2.1 million Terracoins in total, so 55k is like 2.5% of the total money supply!
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