Report Ripple & ScamCoin Inc to FTC for False Advertising

[🏰 TradeFortress 🏰]

From Ripple's website:

The software is open source.
FALSE. The software is closed source.

No one owns it.
FALSE. OpenCoin Inc and their friends owns it. Even through they claim to not own it, they are the only ones with the source code and the ability to update it.\

File a complaint against ScamCoin Inc and Ripple:

https://www.ftccomplaintassistant.gov/FTC_Wizard.aspx?Lang=en

This is false and misleading advertising right on the home page of a payments system. Mention that the market cap of ripple is $450 million (which consists of fake offers from ScamCoin Inc that will be "fixed")

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[misterbigg]

Out of all the potential problems with Ripple, the issue that it is currently closed source and that OpenCoin, Inc. will own the technology forever is the least of my concerns (although we might want to keep an eye out for patents).

Now that we finally have the truth about their business model, that we've confirmed a lot of suspicions, and that we know who the principal architects are, I can safely conclude the following:

- Ripple developers are a group of smart guys who know what they are doing

- The Ripple software will be released as Open Source very soon: 2 to 3 months according to Jed. Probably longer. This year more than likely.

- The Ripple system with withstand rigorous mathematical scrutiny

- Ripple founders gave themselves all 100 billion of the XRP, which functions perfectly as a currency

- It is in OpenCoin's best interest to drive user adoption of Ripple as high as possible by giving out XRPs

- Ripple developers will definitely make money from selling their hoard of XRPs

I think at this point making claims that OpenCoin, Inc. is a scam and lying about everything is a false claim and sounds more like trolling than any reasoned argument.

[🏰 TradeFortress 🏰]

- Ripple developers are a group of smart guys who know what they are doing

No doubt, they're well smart in scamming other people who use Ripple.

- The Ripple software will be released as Open Source very soon: 2 to 3 months according to Jed. Probably longer. This year more than likely.

It is not open source at it's current state. Their excuses are BS (bitcoin was released as open source, day one). They just don't want a fork because they know nobody would use a currency where the founders keep 50% of it

- The Ripple system with withstand rigorous mathematical scrutiny

So does bitcoin. Your point?

- Ripple founders gave themselves all 100 billion of the XRP, which functions perfectly as a currency

So what? USD functions perfectly as a currency, Bitcoin functions perfectly as a currency .. yada yada yada.

How much XRP did OpenCoin Inc just send you again for promoting their scam business model?

[niko]

To most people "scam" does not mean what you think it means.

[🏰 TradeFortress 🏰]

To most people "scam" does not mean what you think it means.

Scam as there's zero mention of this deceptive business practice.

[misterbigg]

Scam as there's zero mention of this deceptive business practice.

OpenCoin will make almost NO MONEY if they keep Ripple closed source.

OpenCoin will MAXIMIZE REVENUE by releasing the Ripple software as open source soon.

You claim that they are deceiving the public but that is simply not true. They are being open about their strategy of developing in closed source and then eventually releasing it once the system is established. You claim that they can rewrite the rules at any time but that is not true.

Keeping Ripple CLOSED SOURCE does not make any economic sense; OpenCoin BENEFITS from eventually releasing the software as open source (or else their hoard of XRPs will become worthless).

Because you continue to ignore these facts I am leaning towards the ignore button. Give me a reason to keep listening to you; Do you understand that lying about the eventual open sourcing of the Ripple system is not in their best interests? No one bribed me to "promote Ripple." It should be apparent to anyone that XRPs will only have future value if Ripple is eventually open sourced.

[JoelKatz]

Because you continue to ignore these facts I am leaning towards the ignore button.

No, don't do that. You'll miss out on great deals like this one: https://bitcointalk.org/index.php?topic=110566

"Note: Please don't mention this market in this thread if you know it already. You are not allowed to sell this information after acquiring it. If you do, I'll just call you a scammer on that market."

[misterbigg]

...You'll miss out on great deals like this one...

UGH I wish you hadn't shown me that

Bye bye TrollFortress

[🏰 TradeFortress 🏰]

...You'll miss out on great deals like this one...

UGH I wish you hadn't shown me that

Bye bye TrollFortress

What do to when the sky is falling around your scam payment system? Quick, divert the topic and call people trolls!