[XRP] Ripple Speculation

[JoelKatz]

Is it true that the Ripple company could basically release new coins whenever they like? Isn't this quite centralized then?

No. There is no way in the protocol to say "I just created 50,000 coins out of nowhere". The software is open source, you can check it out yourself.

Even if you want to argue that our servers might run some other software, that wouldn't matter, because nobody else's servers (like exchanges and explorers) would listen to us if we told them that a transaction had made funds appear out of nowhere.

You can check out the software yourself. Not only is there no way to say that coins were created out of nowhere, there is explicit code that checks for this condition and reject it just in case a bug or subterfuge let through some way to do it:
https://github.com/ripple/rippled/blob/develop/src/ripple/app/tx/impl/InvariantCheck.cpp#L25-L81

The only thing you can't do with deterministic rules is ensure that everyone tries to execute transactions in the same order. That is the key function of validators.

[g___]

yeah ripple is open source and? And who tells you that the servers run that software. Nobody? Ehh guess what that means.

nothing can be changed per the protocol's rules

Furthermore that it is open source does highly indicate that something is wrong about ripple.

why? tesla is open-sourced, does that highly indicate something wrong with them? (answer: no)

I read the whole article but the benefits of ripple are worth nothing if they can eg. print themselves money. Run other software on their servers then what is on github. This is maybe a marketing gag, beacuse people me including have no clue of this highly complex envirmonment and ripple nails that. Maybe it's a huge scam, I woul dnot be surprised.

what are you talking about - "print money themselves"? judging by your post count (and everything else you've said), i'm going to assume you lack an understanding of ripple as a company and what's actually happening in general. please do more research before stating bogus claims.

[_Ini_]

what are you talking about - "print money themselves"? judging by your post count (and everything else you've said), i'm going to assume you lack an understanding of ripple as a company and what's actually happening in general. please do more research before stating bogus claims.

No I do not understand. But I can code and I have a programmers view on things. And ripple has centralized servers that for sure not run the open source software. Exchanges as of my understanding have just a wallet like everybody else and do issue IOUs. So why should a exchange be able to stop Ripple from printing themselves money?

If that open source software would work everybody could just take it, improve it and go to banks and say I'm the better ripple. A company that money with his stuff will not open source it's code. Linux Torvalds never took money for Linux as far as I know. I don't know why you cant see the problem here.

[navyblue]

what are you talking about - "print money themselves"? judging by your post count (and everything else you've said), i'm going to assume you lack an understanding of ripple as a company and what's actually happening in general. please do more research before stating bogus claims.

No I do not understand. But I can code and I have a programmers view on things. And ripple has centralized servers that for sure not run the open source software. Exchanges as of my understanding have just a wallet like everybody else and do issue IOUs. So why should a exchange be able to stop Ripple from printing themselves money?

If that open source software would work everybody could just take it, improve it and go to banks and say I'm the better ripple. A company that money with his stuff will not open source it's code. Linux Torvalds never took money for Linux as far as I know. I don't know why you cant see the problem here.

I am not an IT but i am asking myself - If you are correct why many Japanese banks are willing to use RIPPLE (also trying to expand in China and South Korea) - are they so stupid to loose money which they are invested.
Furthermore, XRP is not bitcoin and cannot be mined.
Please stop posting things and phrases which you cannot back up.

[_Ini_]

what are you talking about - "print money themselves"? judging by your post count (and everything else you've said), i'm going to assume you lack an understanding of ripple as a company and what's actually happening in general. please do more research before stating bogus claims.

No I do not understand. But I can code and I have a programmers view on things. And ripple has centralized servers that for sure not run the open source software. Exchanges as of my understanding have just a wallet like everybody else and do issue IOUs. So why should a exchange be able to stop Ripple from printing themselves money?

If that open source software would work everybody could just take it, improve it and go to banks and say I'm the better ripple. A company that money with his stuff will not open source it's code. Linux Torvalds never took money for Linux as far as I know. I don't know why you cant see the problem here.

I am not an IT but i am asking myself - If you are correct why many Japanese banks are willing to use RIPPLE (also trying to expand in China and South Korea) - are they so stupid to loose money which they are invested.
Furthermore, XRP is not bitcoin and cannot be mined.
Please stop posting things and phrases which you cannot back up.

The truth about cryptocurrency is <1% has any clue of whats going on there. It's the perfect place for marketing-scams (fact) for system that do not work. I'll stop posting anyway (not because you said ), but I continue reading. I'll also take a look at the validating servers in the future.

[vsyc]

what are you talking about - "print money themselves"? judging by your post count (and everything else you've said), i'm going to assume you lack an understanding of ripple as a company and what's actually happening in general. please do more research before stating bogus claims.

No I do not understand. But I can code and I have a programmers view on things. And ripple has centralized servers that for sure not run the open source software. Exchanges as of my understanding have just a wallet like everybody else and do issue IOUs. So why should a exchange be able to stop Ripple from printing themselves money?

If that open source software would work everybody could just take it, improve it and go to banks and say I'm the better ripple. A company that money with his stuff will not open source it's code. Linux Torvalds never took money for Linux as far as I know. I don't know why you cant see the problem here.

First of all, Linus Torvalds. He did not look money for Linux, but got money from Support e.g. Trainings, certification, consultancy etc. anyway, if you look, you will find how they own money. Like with so called decentralisation, there are no  "Free Software", there are just different ways of doing money.

Again, you like idiot keep saying "Printing money". No one prints money, stop showing yourself stupid. Unless somebody gives you money for that.

[_Ini_]

what are you talking about - "print money themselves"? judging by your post count (and everything else you've said), i'm going to assume you lack an understanding of ripple as a company and what's actually happening in general. please do more research before stating bogus claims.

No I do not understand. But I can code and I have a programmers view on things. And ripple has centralized servers that for sure not run the open source software. Exchanges as of my understanding have just a wallet like everybody else and do issue IOUs. So why should a exchange be able to stop Ripple from printing themselves money?

If that open source software would work everybody could just take it, improve it and go to banks and say I'm the better ripple. A company that money with his stuff will not open source it's code. Linux Torvalds never took money for Linux as far as I know. I don't know why you cant see the problem here.

First of all, Linus Torvalds. He did not look money for Linux, but got money from Support e.g. Trainings, certification, consultancy etc. anyway, if you look, you will find how they own money.

I say that ripple has maybe not do well intentions like linus torvalds. Linus Torvalds has undoubtedly created a few very nice things. I hope you don't want to say that he has bad intentions . Anyway last post here

[RayX12]

Unreal... all these nobs come out of the woodwork to say stupid things about Ripple.

I wonder if this means BOOM time is about to come our way???

[Baser]

what are you talking about - "print money themselves"? judging by your post count (and everything else you've said), i'm going to assume you lack an understanding of ripple as a company and what's actually happening in general. please do more research before stating bogus claims.

No I do not understand. But I can code and I have a programmers view on things. And ripple has centralized servers that for sure not run the open source software. Exchanges as of my understanding have just a wallet like everybody else and do issue IOUs. So why should a exchange be able to stop Ripple from printing themselves money?

If that open source software would work everybody could just take it, improve it and go to banks and say I'm the better ripple. A company that money with his stuff will not open source it's code. Linux Torvalds never took money for Linux as far as I know. I don't know why you cant see the problem here.

I am not an IT but i am asking myself - If you are correct why many Japanese banks are willing to use RIPPLE (also trying to expand in China and South Korea) - are they so stupid to loose money which they are invested.
Furthermore, XRP is not bitcoin and cannot be mined.
Please stop posting things and phrases which you cannot back up.

The truth about cryptocurrency is <1% has any clue of whats going on there. It's the perfect place for marketing-scams (fact) for system that do not work. I'll stop posting anyway (not because you said ), but I continue reading. I'll also take a look at the validating servers in the future.

Such a frustrating coin to buy, I do believe it will have another big run at some point. The over hang of 55B xrp from insiders might mean we won't see huge gains anymore though.

[RayX12]

........ The over hang of 55B xrp from insiders might mean we won't see huge gains anymore though.

And.... more bullshit.  
You have no idea of how Ripple will distribute or USE THESE COINS.  The future is not here yet.

[vsyc]

I say that ripple has maybe not do well intentions like linus torvalds. Linus Torvalds has undoubtedly created a few very nice things. I hope you don't want to say that he has bad intentions . Anyway last post here

Go and educate yourself, than come back and see all that nonsense you wrote.

[vsyc]

........ The over hang of 55B xrp from insiders might mean we won't see huge gains anymore though.

And.... more bullshit.  
You have no idea of how Ripple will distribute or USE THESE COINS.  The future is not here yet.

Dude, lets concentrate on a good things, events page was updated: https://ripple.com/events/

Ripple is not finished this year!

[RayX12]

Fuck, I think Ripple should be paying us for defending from the nob Zoombie attack.

[SenSeiSoKo]

XRP is a top coin, i believe it will grow big in few years.

[vsyc]

As always Joel Katz backs Ripple, spends his precious time to reply on articles that are written by complete idiots, here is his answer: https://www.xrpchat.com/topic/7151-coindesk-versus-ripple/?page=2#comment-68228

[Vilrex]

ripple is just a pump n dump coin, i mean what is the purpose of xrp coin?? i get that they have tech and stuff but why the coin?? i mean are you really going to send money across borders with xrp?? if i want to send 100 million  from usa to china but ripple goes down a bit so the i lose 1 million due volatility... makes no sense .-.

[RayX12]

As always Joel Katz backs Ripple, spends his precious time to reply on articles that are written by complete idiots, here is his answer: https://www.xrpchat.com/topic/7151-coindesk-versus-ripple/?page=2#comment-68228

Stupid people writing stupid articles..

[styca]

ripple is just a pump n dump coin, i mean what is the purpose of xrp coin?? i get that they have tech and stuff but why the coin?? i mean are you really going to send money across borders with xrp?? if i want to send 100 million  from usa to china but ripple goes down a bit so the i lose 1 million due volatility... makes no sense .-.

Why the coin? XRP the coin is simply the optimal way to use the ledger. If you use anything other than XRP, you introduce inefficiency. XRP doesn't need trustlines; it's the fastest and cheapest solution.

I understand the volatility point, but I don't think it's a huge issue. Look at the speed of XRP. Transactions take seconds. Say the whole crypto market suddenly plummets - how much will XRP fall over the duration of a single XRP transaction, and compare this with how much Bitcoin will fall over the vastly longer duration of a Bitcoin transaction.
Alternatively, if you're talking about holding huge reserves of XRP and the price changing over a longer timeframe - the answer is that whilst banks will use XRP, they won't hold it themselves... https://www.reddit.com/r/Ripple/comments/6d4can/xrp_will_be_used_by_market_makers_not_banks/

[xapwxrm5742]

I think the biggest cash hadn't dithdraw.
maybe it's a good time to buy some !

[Pzest1]

another good article written on the XRPhttp://www.coindesk.com/ripples-xrp-giving-third-largest-cryptocurrency-second-look/ Let me guess another analyst that has taken the time to analyse but knows less than you guys that cant answer simple questions that people ask. More and more people are catching onto the truth behind XRP (not Ripple)

'It wasn't until much later, when I read Peter Todd's now infamous analysis on Ripple's predecessor, Ripplepay, that I began to understand not only what Ripple is, but also what I had only sensed intuitively about the XRP token.'

'A few years after bitcoin was launched, OpenCoin, later Ripple Labs, took over Ripplepay. They completely reworked the protocol. The concept still revolved around managing IOUs, but inspired by bitcoin, they also included a new token called XRP.'

'As Peter Todd pointed out in his study, the new requirement of a global consensus protocol – which arose solely from the decision to add the XRP token – also has serious implications on scalability and security. If the token results in a more complicated, more centralized, less secure and less scalable protocol, you have to ask, why the token was added in the first place? What was wrong with the original concept, which is often compared to an electronic Hawala system, which needed no monolithic global consensus or ledger, and thus could have scaled almost arbitrarily?'

'The original argument, that the token is needed to counter network spam is not a good one; spam can be prevented by other means, including charging transaction fees that can be paid in any currency on the network, instead of just in XRP. The other argument I hear nowadays, is that XRP would be used as a sort of reserve currency by banks or liquidity providers on the network.

This seems pretty far-fetched to me; why would liquidity providers not use any other common (reserve) currency like US dollars for that, especially considering the highly volatile price of XRP ?'

There have been a few proof-of-concept implementations and recently Thailand's Siam Commercial Bank announced they starting using Ripple software for Thailand-to-Japan remittance.

This is a big deal, but it needs context; first of all, SCB bank is an investor in Ripple company, making it fairly logical they would experiment and promote the blockchain technology they invested in. More importantly however, I see no mention of XRP in any of the press releases.

The only obvious thing that appears missing from Hyperledger compared to Ripple, is the one thing for which I see absolutely no reason for them to want: the XRP token.

So you guys keep saying do some research, people have, far more educated than you hypers. Oh and as i keep saying its just moving with Bitcoin. im sure there were comments about that (sorry i dont read replies) but looky looky its done the same as bitcoin again lol