Could Ripple be “The Killer App” Bitcoin has been looking for?

[pimpjuice]

I’m new to this so try to take it easy on me . I know, as a Bitcoin enthusiast, some may want to punch me in the face just for mentioning Ripple but hear me out.  I love bitcoin but decided to put my differences aside and really look into “the scam coin” XRP and Ripple.

I found that Ripple combined with their new product ILP (Interledger Protocol) is actually a brilliant idea and an idea that could possibly provide solutions to problems with Bitcoin at this very moment.

1) Bitcoin Transaction Time and Increased Block Size
Use a Bitcoin wallet for your savings accounts (real bitcoins) and use Ripple’s IOU system for transactions.  Trading a btc.iou (for example a Bitstamp.btc IOU) can be done instantaneously with Ripple. So… when making purchases online wouldn’t it be more efficient for both the buyer and merchant to use an IOU system for faster confirmations? Wouldn’t this be great for Bitcoin because it would reduce the amount of transactions on the network?  Less micro-payments, instead there would be fewer large single transactions, which could help reduce the need for huge block sizes.

2) Bitcoin Connections
Banks are using private networks (there is no getting around this). They refuse to use a public ledger. So networks of banks are being established using private ledgers cutting out bitcoin.  The problem is they are limited to only transactions within their private networks (which isn’t much of a game changer).  Ripple is developing the Interledger Protocol that provides a means for public, private and permissioned networks to trade between each other. Making transactions between bitcoin and the financial world easier.


Here are some interesting recent quotes that might make you think twice about the Ripple.

"There’s a lot that Bitcoin or Ripple and variants can do to make moving money between countries easier and getting fees down pretty dramatically. But Bitcoin won’t be the dominant system.” – Bill Gates

“Given this multi-chain vision, we see smart contracts as a key piece. Then you need ILP, which is the glue in the system that holds everything together, so that different chains can interoperate. That means a derivatives chain can interact with the securities chain it’s derived from. In all of these interactions, you’ll have to move money around. So you will need Ripple for that.” – Marley Gray (Microsoft)


My point is both can coexist, XRP as a vehicle (that has some control like the usd) and bitcoin as a commodity (store of value like gold but with the advantage of being easily transactional). So to me, Ripple and Bitcoin are not competitors.  In fact, if you asked Ripple employees if they liked bitcoin, 99% of them would probably say they love it.


Note: Also, with the bitcoin mining power centralized in China and Ripple now has Microsoft (and others) wanting to run validators.  Ripple may actual end up being more decentralized than Bitcoin.

[Momimaus]

No

[tokeweed]

No.  Ripple isn't Ripple Labs' top priority anymore.  It's Interledger.

[Snail2]

I don't think so. Since some working "2.0 coins" are out in the wild XRP is hopelessly outdated. In addition, XRP never gained widespread adoption. At this moment it appears ETH will "be “The Killer App” Bitcoin has been looking for".

[tokeweed]

I don't think so. Since some working "2.0 coins" are out in the wild XRP is hopelessly outdated. In addition, XRP never gained widespread adoption. At this moment it appears ETH will "be “The Killer App” Bitcoin has been looking for".

For now, yes.

[Spoetnik]

oh jeez LOL
"Killer APP" i really hate this new millennial generation and all their trendy faggy crypto buzzwords.
You guys make me rolls my eyes here so much i will be cross-eyed forever until they bleed !
Holy god damn mother of fucking Christ whee do i start ?

[tokeweed]

oh jeez LOL
"Killer APP" i really hate this new millennial generation and all their trendy faggy crypto buzzwords.
You guys make me rolls my eyes here so much i will be cross-eyed for ever until they bleed !
Holy god damn mother of fucking Christ whee do i start ?

This thread needs your touch as well... https://bitcointalk.org/index.php?topic=1343775.0

[pimpjuice]

oh jeez LOL
"Killer APP" i really hate this new millennial generation and all their trendy faggy crypto buzzwords.
You guys make me rolls my eyes here so much i will be cross-eyed for ever until they bleed !
Holy god damn mother of fucking Christ whee do i start ?

I was quoting the media's overused headline "Bitcoin's killer app".  YOU and your disgraceful comments is the main reason people avoid Bitcointalk.  Get your head out of your ass and make a productive comment.  Faggy? And we wonder why African Americans, women, and I assume the LGBT community aren't adopting bitcoin... idiot.

[stoat]

No.


Dump that shit and buy Ethereum before you get schooled.

[pimpjuice]

Gets pushed to altcoin discussion because Ripple is mentioned despite it being about Bitcoin... I guess I understand it can go either way.

Did anyone even read my questions or details? Outdated?  Ripple has been far ahead when it comes to FI and cross-boarder transactions.  They were taking the proper regulatory steps and hiring the right people before R3 even existed.  Bitcoin and Ripple are different.  Ripple/ILP is focused primarily on financial institutions and cross-boarder transactions, connecting public, private and permissioned ledgers. Bitcoin is still the king crypto, the gold of all digital currencies, the fallback and store of value.  But why can't Ripple's xrp, which better resembles actual government currencies (which is why there is so much hatred), not be successful in helping produce the internet of value?  Stop looking at this shit as an investment and start looking at it as a technology advancement and answer with some thought please. If not, do like Spoetnik and cross your eyes until they bleed.

Ethereum is not really a competitor to Ripple unless you are a trader.  Microsoft will be using ILP and Ethereum together.

There will be:
1) Bitcoin (gold)
2) Ethereum (smart contracts)
3) ILP (the glue that connects it all)

[pimpjuice]

I don't think so. Since some working "2.0 coins" are out in the wild XRP is hopelessly outdated. In addition, XRP never gained widespread adoption. At this moment it appears ETH will "be “The Killer App” Bitcoin has been looking for".

Your idea of widespread adoption is the bitcoin community. Ripple took the top down approach rather than the bottom-up approach.

[stoat]

Ripple was a 100% premine.  Fake coin.

[pimpjuice]

No.  Ripple isn't Ripple Labs' top priority anymore.  It's Interledger.

Agree, XRP isn't Ripple's top priority anymore, XRP is more of a part of the Interledger Protocol.  The ability for small banks to trade with large banks that would normally not trust the smaller institutions. This is a game changer.

[pimpjuice]

Ripple was a 100% premine.  Fake coin.

Please don't make me get into mining because I really don't want to bash bitcoin (I am heavily invested)  But let me say... large chinese miners are pushing bitcoin towards being more centralized.  Ripple adds validators (Microsoft will be running multiple validators) over time pushing it to be more decentralized.

Don't get me wrong.  I love the idea of mining and I think it adds real value to the coin.  But there are some issues at the moment.

[stoat]

Im not even talking about mining.  There is just no way to produce this centralised piece of crap unless you buy it from ripple or some bagholder.

No POS no POW nothing.  It's a total dead duck. 

[tokeweed]

No.  Ripple isn't Ripple Labs' top priority anymore.  It's Interledger.

Agree, XRP isn't Ripple's top priority anymore, XRP is more of a part of the Interledger Protocol.  The ability for small banks to trade with large banks that would normally not trust the smaller institutions. This is a game changer.

This is a game changer for the banks for sure.  Now make it decentralized so that they could use it but not control/manipulate it.

[pimpjuice]

No.  Ripple isn't Ripple Labs' top priority anymore.  It's Interledger.

Agree, XRP isn't Ripple's top priority anymore, XRP is more of a part of the Interledger Protocol.  The ability for small banks to trade with large banks that would normally not trust the smaller institutions. This is a game changer.

This is a game changer for the banks for sure.  Now make it decentralized so that they could use it but not control/manipulate it.

Right now Ripple I believe runs most validators (early stages - so understand what you're saying) but Microsoft has already stated they want to run multiple validators and I'm sure more to come.

[God27]

Just a matter of time for xrp and lumens to rise in price. Just don't expect anything for a while especially not the consumer transfer of assets killer app for a decade . You did your homework so now do what you want, when you want, how you want. Goodluck.

[stoat]

Why is ripple manipulatingbit's market cap?

How are they doing this?  Are they reducing the number of coins for sale or are they increasing the amount of xrp?

I'm just wondering how they are able to manipulate their market cap without manipulating the coin supply or price

[pimpjuice]

ok, so now 2 people control the network

Ripple and Microsoft

such decentralized

I never said it was decentralized but while bitcoin is becoming more centralized (2 main chinese miners) Ripple is becoming more decentralized.

Once again, I do not hate bitcoin, I love bitcoin (I own many btc, even paid $100 for the first issue of Bitcoin Magazine so I could frame and put on my office wall... ). I feel like I am defending Ripple and that was not my intention. The whole point of this post was to attempt to get people to look past the bs and actually look into Ripple.  Ripple can help bitcoin and they are not competitors. Just because you don't like the distribution don't hold it against the technology. XRP may be different from bitcoin from a distribution standpoint but how can Bitcoin's distribution ever be mimicked and does it really matter as a vehicle? Bitcoin was first, the perfect distribution because no one knew the potential value.