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Author Topic: I just don't understand Ripple  (Read 593 times)
Bimmerhead
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February 21, 2013, 11:19:32 PM
 #1

How does Ripple 'deliver' my $100 from Arkansas to my brother-in-law in Korea?  How does he 'cash out' of Ripple?
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February 22, 2013, 05:50:49 AM
 #2

How does Ripple 'deliver' my $100 from Arkansas to my brother-in-law in Korea?  How does he 'cash out' of Ripple?

If I tell you I'll have to kill you.


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Bit_Happy
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February 22, 2013, 06:22:21 AM
 #3

If you already have money in the system, then the transfer is fast and easy.
If not, you need to use a "gateway" to deposit money.

How does he 'cash out' of Ripple?

Through a Gateway, of course.   Cheesy
Please send "an arm and a leg" worth of BTC to the address in my sig and I will teach you more, thanks.

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benjamindees
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February 22, 2013, 08:03:44 AM
 #4

I'm under the impression that it's basically just Hawala.  But I'm not too familiar with either, really.

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February 22, 2013, 08:10:37 AM
 #5

I'm under the impression that it's basically just Hawala.  But I'm not too familiar with either, really.

Sort of.  It's got some elements of hawala and some elements of LETS.  It allows existing trust networks like LETS and hawala to link together and create and access a much larger network.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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