You guys gonna become paranoid about Ripple

[afbitcoins]

For the record, anyone who thinks Ripple is a serious threat to bitcoin is off their rocker. IM not so Humble O. But lack of a threat doesn't mean I can't make fun of it.  

Shh, we're supposed to ignore that part, and *trust* that they will one day become open source and decentralized  

I know that I'm off my rocker! Perhaps ripple isn't a serious threat to bitcoins, I can hope anyway. It looks like there is so much wrong with it that it will commit suicide without any help. I'm worried about the trend it is setting though. If ripple doesn't work, banks will be back and keep pushing variations of these sort of schemes, and the mainstream media will push it to the masses of braindead sheeple, once mass adoption happens then we're stuck with it.

It analogous to the way the first two versions of a central bank in the USA were defeated. The bankers didn't give up and got their federal reserve, 3rd time lucky. And now lucky us, we have inherited a world where debt is our money and is backed by nothing tangible.

[1714913494]

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[1714913494]

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[afbitcoins]

OpenCoin lol...is the most contradictory use of the word Open I have ever heard.


LOLz talk about misleading eh?

The name itself...lol

Its a blatent attempt to deceive
 

[MAbtc]

Bitcoin Bridge implemented on Ripple

Thoughts? I was wondering when they'd implement this. If Ripple takes off, this would open up many new avenues to acquire BTC. It would also allow bitcoin merchants to serve the entire Ripple user base.

 

[Miz4r]

Bitcoin Bridge implemented on Ripple

Thoughts? I was wondering when they'd implement this. If Ripple takes off, this would open up many new avenues to acquire BTC. It would also allow bitcoin merchants to serve the entire Ripple user base.

 

''You don’t even need to own or use Bitcoins to make payments in Bitcoins.''

Where do those bitcoins come from? Are they created out of thin air?

[MAbtc]

Bitcoin Bridge implemented on Ripple

Thoughts? I was wondering when they'd implement this. If Ripple takes off, this would open up many new avenues to acquire BTC. It would also allow bitcoin merchants to serve the entire Ripple user base.

 

''You don’t even need to own or use Bitcoins to make payments in Bitcoins.''

Where do those bitcoins come from? Are they created out of thin air?

A gateway won't send out real BTC unless someone sends a trusted (liquid) currency in exchange. They aren't created out of thin air anymore than your BTC held on exchanges are.

[JoelKatz]

''You don’t even need to own or use Bitcoins to make payments in Bitcoins.''

Where do those bitcoins come from? Are they created out of thin air?

No, you atomically buy the right to those Bitcoins as part of the payment process. Someone has to have them to sell to you and you have to have something they're willing to trade for them.

[ElectricMucus]

Bump.

You guys are ripe, about as paranoid as a schizophrenic in police custody.

[SkRRJyTC]

Bump.

You guys are ripe, about as paranoid as a schizophrenic in police custody.

What is ripple?

[ElectricMucus]

Bump.

You guys are ripe, about as paranoid as a schizophrenic in police custody.

What is ripple?

NICE!

[zachcope]

Why I would go to a gateway,
to give them my money,
my dirty fiat money,
for them to change to ripples,
to send around the network,
trusting all the network,
to send along some bitcoins,
or promise of some bitcoins,
to redeem against the gateway,
the one that has my money,
(and sent around those ripples)
in order for the gateway,
to give me lovely bitcoins
when I could get my bitcoins
(Satoshi's lovely bitcoins)
directly from the gateway
for my dirty fiat money -
why would I?

[afbitcoins]

Why I would go to a gateway,
to give them my money,
my dirty fiat money,
for them to change to ripples,
to send around the network,
trusting all the network,
to send along some bitcoins,
or promise of some bitcoins,
to redeem against the gateway,
the one that has my money,
(and sent around those ripples)
in order for the gateway,
to give me lovely bitcoins
when I could get my bitcoins
(Satoshi's lovely bitcoins)
directly from the gateway
for my dirty fiat money -
why would I?

I wouldn't 

To be honest the very title of this thread gives a big clue of its trolling intent.

The way I see it, with Ripples you have to have a heck of a lot of trust that people will do the right thing. With bitcoin, you don't need to, the network takes care of all that, its built in.

[Coinseeker]

Ripple is now officially open source.   

https://bitcointalk.org/index.php?topic=301635.0

[bitcoinBull]

Why I would go to a gateway,
to give them my money,
my dirty fiat money,
for them to change to ripples,
to send around the network,
trusting all the network,
to send along some bitcoins,
or promise of some bitcoins,
to redeem against the gateway,
the one that has my money,
(and sent around those ripples)
in order for the gateway,
to give me lovely bitcoins
when I could get my bitcoins
(Satoshi's lovely bitcoins)
directly from the gateway
for my dirty fiat money -
why would I?

Because if bitcoins are cheaper at a different gateway, you can move your fiat around quickly and freely. Haven't you seen how different the prices are lately?

The way I see it, with Ripples you have to have a heck of a lot of trust that people will do the right thing. With bitcoin, you don't need to, the network takes care of all that, its built in.

You have to trust an exchange if you're going to trade bitcoins. Its no different with ripple, except its called a gateway, and once you get your IOUs you're free to send and trade them just like bitcoins. Looking at the current state of mtgox and bitstamp prices, that is something the ecosystem really could use: a method other than bank and wire transfers for moving around fiat IOUs.

[zachcope]

Why I would go to a gateway,
to give them my money,
my dirty fiat money,
for them to change to ripples,
to send around the network,
trusting all the network,
to send along some bitcoins,
or promise of some bitcoins,
to redeem against the gateway,
the one that has my money,
(and sent around those ripples)
in order for the gateway,
to give me lovely bitcoins
when I could get my bitcoins
(Satoshi's lovely bitcoins)
directly from the gateway
for my dirty fiat money -
why would I?

Because if bitcoins are cheaper at a different gateway, you can move your fiat around quickly and freely. Haven't you seen how different the prices are lately?

The way I see it, with Ripples you have to have a heck of a lot of trust that people will do the right thing. With bitcoin, you don't need to, the network takes care of all that, its built in.

You have to trust an exchange if you're going to trade bitcoins. Its no different with ripple, except its called a gateway, and once you get your IOUs you're free to send and trade them just like bitcoins. Looking at the current state of mtgox and bitstamp prices, that is something the ecosystem really could use: a method other than bank and wire transfers for moving around fiat IOUs.

But Fiat Gateway Ripple IOUs will not all be equal.
If I were the GreatCloudBitcoinExchange.com I would value Ripple IOUs from German or Canadian Gateways, for example, much higher than USA gateways. This would have to be passed on somehow to those using the USA Gateway, hence the whole Ripple network has done nothing to prevent the difference in pricing and risk when using exchanges in different countries and with different companies.
For any other transaction the local gateway could still use bitcoin, where no trust is required, to move funds across the world to another company.

I don't understand how producing more debt that requires more trust and will require just as much regulation and information sharing does anything that the Dirty Legacy Fiat system doesn't do already.

And those collecting debt will still need baseball bats, guns etc to collect.

The beauty of Satoshi's bitcoins is it enables global transactions WITHOUT the need for debt or trust, freeing the masses from the Legacy Banking system so they individuals can concentrate on generating real meaningful wealth, not simulated fake banking profits supported by inflation and our future poverty.

[SkRRJyTC]

Bump.

You guys are ripe, about as paranoid as a schizophrenic in police custody.

What is ripple?

NICE!

How does one become paranoid about something they are ignorant of and have no interest in?

[ElectricMucus]

Bump.

You guys are ripe, about as paranoid as a schizophrenic in police custody.

What is ripple?

NICE!

How does one become paranoid about something they are ignorant of and have no interest in?

That was my point.

They aren't uninterested in it, to the contrary. The irony is that they realize the potential of the concept, it is just that they are so much into the Bitcoin Cult that they can't accept the conclusion.
They will attack anything that isn't directly leading to capital gains of their investment, no matter how innovative.

[oda.krell]

Bump.

You guys are ripe, about as paranoid as a schizophrenic in police custody.

What is ripple?

NICE!

How does one become paranoid about something they are ignorant of and have no interest in?

That was my point.

They aren't uninterested in it, to the contrary. The irony is that they realize the potential of the concept, it is just that they are so much into the Bitcoin Cult that they can't accept the conclusion.
They will attack anything that isn't directly leading to capital gains of their investment, no matter how innovative.

I see. You're in your 'lazy' period again. Probably no point then to attempt to convince you that, just maybe, if one of us bitcoincargocultists (which we are, admittedly) says he thinks the bitcoin protocol is worlds apart from Ripple on conceptual grounds he could, you know, mean it. Don't forget, if you would take that answer at face value, you could accuse them of being tinfoily Internet libertards. That's fun as well :D

[ElectricMucus]

I see. You're in your 'lazy' period again. Probably no point then to attempt to convince you that, just maybe, if one of us bitcoincargocultists (which we are, admittedly) says he thinks the bitcoin protocol is worlds apart from Ripple on conceptual grounds he could, you know, mean it. Don't forget, if you would take that answer at face value, you could accuse them of being tinfoily Internet libertards. That's fun as well

Of course it's different, Ripple has a cooperate entity behind it (opencoin, now ripplelabs) Bitcoin has a non-profit organization behind it (Bitcoin Foundation). Bitcoin is grass-roots, Ripple is old guard.
Have you seen anybody criticizing ripple that way? I haven't, and I think I know why: Preaching free market capitalism and criticizing for profit cooperations using FOSS for their purposes does make you look like a hypocrite.

FYI, my signature isn't really my opinion, (that's why it is in quotes), it's meant as a ridicule of people who suggest I have been paid by TPTB to troll here. It seems to be working btw.

[oda.krell]

I see. You're in your 'lazy' period again. Probably no point then to attempt to convince you that, just maybe, if one of us bitcoincargocultists (which we are, admittedly) says he thinks the bitcoin protocol is worlds apart from Ripple on conceptual grounds he could, you know, mean it. Don't forget, if you would take that answer at face value, you could accuse them of being tinfoily Internet libertards. That's fun as well

Of course it's different, Ripple has a cooperate entity behind it (opencoin, now ripplelabs) Bitcoin has a non-profit organization behind it (Bitcoin Foundation). Bitcoin is grass-roots, Ripple is old guard.
Have you seen anybody criticizing ripple that way? I haven't, and I think I know why: Preaching free market capitalism and criticizing for profit cooperations using FOSS for their purposes does make you look like a hypocrite.

FYI, my signature isn't really my opinion, (that's why it is in quotes), it's meant as a ridicule of people who suggest I have been paid by TPTB to troll here. It seems to be working btw.

Didn't have your sig in mind... guess I'm just personally appaled by the more Rayndian mindset some in here seem to have.

Anyway, you're partly right. Most criticism towards (c)ripple (ooh, that's a smart one) isn't based on principles, but on, well, greed I guess. Just pointing out it's not only greed that can make you reject it. I like to think that I'm in this thing for roughly equal portions of idealism and greed. Maybe delusional.

[Le Happy Merchant]

Bump.

You guys are ripe.

More like rippe.