Any advice for a newbie trying Ripple?
Thanks, in advance.
My opinion that Ripple will not live by three reason:
1. No benefits for nodes to support the network. A few people will do it for free.
From the Ripple.com wiki:
Who will run validating nodes?
Anyone whose business relies on the network:
Gateways
Merchants
Arbitragers
Day traders
Anyone who wants to support currency choice:
Digital rights groups
Libertarian groups
Individuals
Anyone who wants to support the underbanked:
Organizations
Individuals
Anyone who wants to provide a public service:
Universities
Anyone who provides hosting services for open source projects
ie enough people that this, while in theory is a valid concern, isn't going to be much of a serious one.
2. OpenCoin holds almost all of XRP, it is impossible to put it in a circulation in fair way for to satisfy all of participant.
There's always going to be a way to satisfy some(at the cost of others) in distribution of wealth - this wealth distribution problem is not unique to ripple, and not even really unique to currency. However you're correct in that if it's not distributed in a way that satisfies enough people Ripple will not succeed. It does not have to satisfy all participants, however -- just enough of them. Network effects and other factors will take care of the rest.
3. Too complicated for understand.
As far as the interface is concerned, that will be improved as more businesses get involved, and the server is released. As far as Ripple itself...well maybe. But then again, the internet and email is pretty complicated, but people figured those out.
The trust and liquidity providing features are also flawed.
This sounds like semantics.
