ripple: let's test it!

[RainbowCoin]

Rainbowcoin is now live on Ripple.com

users can use ggateway.biz to upload their LGBT (note Rainbowcoin code on Ripple is LGB)

[molecular]

Hey guys...

I've just been importing my old ripple account into https://wallet.gatehub.net.

I have some XRP, but also some debts (in USD and BTC) because people (who are probably mainly here) extended trust to me and they own IOUs of mine in these currencies.

I saw that some of them have sizable XRP balances in their accounts. Maybe you guys wanna check?

Before I settle those debts, I'd like to make sure people have access to those accounts, so I'll probably search for the account addresses and try to contact the owners...

[AbNewton]

Hey guys...

I've just been importing my old ripple account into https://wallet.gatehub.net.

I have some XRP, but also some debts (in USD and BTC) because people (who are probably mainly here) extended trust to me and they own IOUs of mine in these currencies.

I saw that some of them have sizable XRP balances in their accounts. Maybe you guys wanna check?

Before I settle those debts, I'd like to make sure people have access to those accounts, so I'll probably search for the account addresses and try to contact the owners...

How you contact the owners of those accounts?

[sale.kripta]

With Ripple, people can use any currency they choose, and the recipient can receive this payment in any currency they choose. All in a matter of seconds and free. Ripple allows you and I to trade peer-to-peer for anything of value, without a central clearing house or central exchange.

[zilinzhi]

Do i have a xrp address if i want to test it? or anyone else can tell me the test result, ripple is really an amazing project, both in the work i has done and the price of its token.

[molecular]

With Ripple, people can use any currency they choose, and the recipient can receive this payment in any currency they choose. All in a matter of seconds and free. Ripple allows you and I to trade peer-to-peer for anything of value, without a central clearing house or central exchange.

At first I was intrigued by ripple (in 2013, see OP). It's technically interesting.

Over time I thought about what it was and how it worked: it's essentially a debt-tracker. We'll end up trusting ripple gateways (JP Morgan, the US govt, the ECB, etc...) and we'll end up with "managed money supplies". It's not a trustless system, it's based on IOUs. It's also doubtful wether it's an open system in the sense that anyone can join the network as a node and participate in a meaningful way. And don't even get me started on privacy or censorship-resistance.

Ripple is Central Banking on steroids.

I don't want that. I want p2p cash. Commodity based money.

[Sukrim]

Then you don't use any Bitcoin exchanges, since they also just give you IOUs?

[molecular]

Then you don't use any Bitcoin exchanges, since they also just give you IOUs?

You are correct, they also give you IOUs (see mtgox debacle for the risks). But to minimize the risk, you can immediately withdraw the asset to your wallet after trading.

[KingScorpio]

I didn't know where to put this so I chose the altcoins subforum because I expect to find the most open-minded people here

I'm intrigued by ripple. There's a lot of info out there and a beta client (web-base javascript).

Here are some links:

• http://ripple.com: main site, has links to wiki, forum. You can make a wallet there
• Is Ripple a Bitcoin Killer or Complementer? Founder of Mt Gox will launch Ripple
• Ripple giveaway (I received 50,000 XRP already)
• Ripple gateway
• irc channel #ripple on freenode

There's a built-in exchange. I added bitstamp (supposedly) to my contacts: rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B and now I can see an orderbook on the XRP/USD pair. I'd love to try it, but the best ask is 8,333.33333 XRP/USD. I think that's too high.

I only have XRP in my account currently.

I would like to find out wether I can issue some EUR or BTC myself and have people trust me with it. I'm really unclear how that would work. Any info?

So anyone want to post his contact info here so I can add some people to my contacts?

I'm rpH3zuMch2GrrYX724xGWwbMGwiQ5RbSAU

ripple threads should be banned in this forum actually, ripple is not an altcoin, its the banksters breaking rules, and abusing their trust and power

regards

[molecular]

ripple threads should be banned in this forum actually, ripple is not an altcoin, its the banksters breaking rules, and abusing their trust and power

I tend to agree with the latter part (it's a bankster power grab), but not with the former. We should be able to discuss ripple, even if it's not a coin (which is debatable).

[cryptodevs]

I didn't know where to put this so I chose the altcoins subforum because I expect to find the most open-minded people here

I'm intrigued by ripple. There's a lot of info out there and a beta client (web-base javascript).

Here are some links:

• http://ripple.com: main site, has links to wiki, forum. You can make a wallet there
• Is Ripple a Bitcoin Killer or Complementer? Founder of Mt Gox will launch Ripple
• Ripple giveaway (I received 50,000 XRP already)
• Ripple gateway
• irc channel #ripple on freenode

There's a built-in exchange. I added bitstamp (supposedly) to my contacts: rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B and now I can see an orderbook on the XRP/USD pair. I'd love to try it, but the best ask is 8,333.33333 XRP/USD. I think that's too high.

I only have XRP in my account currently.

I would like to find out wether I can issue some EUR or BTC myself and have people trust me with it. I'm really unclear how that would work. Any info?

So anyone want to post his contact info here so I can add some people to my contacts?

I'm rpH3zuMch2GrrYX724xGWwbMGwiQ5RbSAU

XRP to the moon lets go with the flow,make more btc on it!

[Sukrim]

Then you don't use any Bitcoin exchanges, since they also just give you IOUs?

You are correct, they also give you IOUs (see mtgox debacle for the risks). But to minimize the risk, you can immediately withdraw the asset to your wallet after trading.

There is no IOU-less interface between Crypto and Fiat currencies though... so instead of creating the IOUs on a server of MtGox, why are you against creating them on a public blockchain? Wouldn't that at least be a step forward in the right direction?

ripple threads should be banned in this forum actually, ripple is not an altcoin, its the banksters breaking rules, and abusing their trust and power

regards

Don't you have a mining farm to build or something?

[molecular]

Then you don't use any Bitcoin exchanges, since they also just give you IOUs?

You are correct, they also give you IOUs (see mtgox debacle for the risks). But to minimize the risk, you can immediately withdraw the asset to your wallet after trading.

There is no IOU-less interface between Crypto and Fiat currencies though...

well, that's because of the fiat shortcomings. No way to do atomic swaps with EUR.

However, there are decentralized exchanges like bitshares for example.

so instead of creating the IOUs on a server of MtGox, why are you against creating them on a public blockchain? Wouldn't that at least be a step forward in the right direction?

Yeah, maybe a step in the right direction. I have nothing against IOUs in general. Just people should not get lulled in and neglegt the associated 3rd party risk. Even with ripple (it presumably being a public blockchain or not doesn't change this), you still have that risk. It's inherent to IOUs (by design).

It's just that I'd rather hold the larger part of my value in some commodity-based money (or other "tangible" assets (yes, I consider crypto tokens to be "tangible", but that's a philosophical detour)) like BCH or ETH or whatever. That way I "only" have to trust that there will be a liquid market allowing me to pull that value back out when I need it. I do not have to trust some 3rd party (however too big to fail, insured or whatnot it may be) to honor the IOUs I have with them and I do not have to trust that (or another 3rd party) to not inflate the money supply into their own coffers at will, maybe even in an opaque way.

[Sukrim]

Ripple is a decentralized exchange too, the "crypto-Euro" problem will still remain for a while until protocols like Interledger are more widely adopted outside of the blockchain ecosystem.

You prefer to hold native assets rather than IOUs. However you also see the need to trade them from time to time. I get that you are sceptical of the conecpt of Ripple as a monetary system (where people create money from debt or by depositing it at gateways), but I'm not sure why you would be against Ripple as a decentralized exchange that would make it easier for you to choose a single gateway as an on-ramp for the times where you do want to access a liquid market and still gain access to a much wider variety of markets than what the centralized exchanges offer (no need to wait for someone "allowing" you to trade X for Y because they now open an order book on their server).

If Ripple already is Central Banking on steroids, what are centralized exchanges like Binance, Poloniex etc.? In there by the way it is NOT possible to see how much they owe their customers, in Ripple it is transparent.

[molecular]

Ripple is a decentralized exchange too, the "crypto-Euro" problem will still remain for a while until protocols like Interledger are more widely adopted outside of the blockchain ecosystem.

You prefer to hold native assets rather than IOUs. However you also see the need to trade them from time to time. I get that you are sceptical of the conecpt of Ripple as a monetary system (where people create money from debt or by depositing it at gateways), but I'm not sure why you would be against Ripple as a decentralized exchange that would make it easier for you to choose a single gateway as an on-ramp for the times where you do want to access a liquid market and still gain access to a much wider variety of markets than what the centralized exchanges offer (no need to wait for someone "allowing" you to trade X for Y because they now open an order book on their server).

If Ripple already is Central Banking on steroids, what are centralized exchanges like Binance, Poloniex etc.? In there by the way it is NOT possible to see how much they owe their customers, in Ripple it is transparent.

I acknowledge the use case for ripple as an exchange platform.

Maybe we can view ripple as 2 separate things: an exchange platform / IOU-tracker on the one hand, and a cryptocurrency on the other hand?

Binance, poloniex and other exchanges have the same problem as ripple gateways, imo: they can (at least theoretically) create balances (IOUs) out of thin air. Just look at tether, for example. Or gox running "fractional reserve" for years on end. My fear is that people will get suckered in and just use ripple as a "wallet" for their EUR, USD, BTC...

[Sukrim]

They are moving away from that paradigm for 3-4 years now by the way, the new hot shit that Ripple Inc pushes is https://interledger.org as the upcoming W3C payment standard (Current slide deck: https://www.slideshare.net/Interledger/34c3-interledger-presentation-background-streaming-payments-and-implications). It would allow you to always hold BTC, but to pay someone who only accepts e.g. PayPal at current market prices. That's also the technology that they sell to banks, not the XRP ledger itself (banks don't like to have their payments public apparently).

[lemememe]

In my opinion, XRP is the way for whales and sharks playing the dump and pump games which is really dangerous for normal people like us want to earn some profit in our life.

[Uberse]

In my opinion, XRP is the way for whales and sharks playing the dump and pump games which is really dangerous for normal people like us want to earn some profit in our life.

Ripple is the first protocol of its kind and the first wave of many that will, in the years ahead, lower to nearly zero the cost and time required for institutional money transfers. There is nothing scammy about Ripple. And a formal part of its protocol is a 'Bitcoin Bridge' is that will, like Ethereum, expand Bitcoin's reach into daily life. So Ether and Ripple are not 'competitors' and 'rivals' of Bitcoin. They will all complement each other, as will the token-based protocols that come after Ripple (like IOTA). But being mere tokens, they will not be good HODL material -- they are not the ongoing product of genuine work, like bitcoins and ethers are. The whales and sharks you mention are just swimming in the sea they found themselves in. But they are easy to spot if you want to spot them. The trouble is, so many people don't want to spot them.

It amuses me how all the warnings people have sounded about bitcoin apply more to Ripple as something to HODL -- and even, for that matter, as a short-term speculation. You are going to get burnt. They are tokens. And lots more of them are waiting in the wings. That doesn't necessarily mean they won't serve a legitimate purpose. Ripple surely does serve a legitimate purpose. But as an investment strategy . . . no. I remember a life-insurance salesman coming around our house many years ago when I was a kid. He had a great investment strategy that he raved about: Second Trust Deeds. Fifteen years later he was still a life insurance salesman with the same phone number. I have this vision of a similar salesman coming around your house with a great new investment tool: Bank Transfer Settlement Tokens . . .

[Gaviscon]

In my opinion, XRP is the way for whales and sharks playing the dump and pump games which is really dangerous for normal people like us want to earn some profit in our life.

What are you talking about? It's not the toys of whales. It is the one of the best investments for normal people.

[Uberse]

In my opinion, XRP is the way for whales and sharks playing the dump and pump games which is really dangerous for normal people like us want to earn some profit in our life.

What are you talking about? It's not the toys of whales. It is the one of the best investments for normal people.

Don't be normal.