Why the world needs Ripple XRP - Whitepaper

[coinmachina]

So what I don't get is how does the consensus mechanism for ripple work?

With bitcoin this is easy: If I want to state what transactions I consider valid I would simply mine on the according chain.

But how do I state which transactions I consider valid in Ripple?

[shyliar]

I don't know why this con is on the first five most capitalised project on coinmarketcap.com, I report came out last week that it is one of the most on secured blockchain project out there, truly I'm not surprise about the result of the report but what do  surprise me is that people are still buying into it.

Because it's deflationary

watch this


now go to

https://charts.ripple.com/

see total XRP under Ripple Network Stats

it's lesser than the picture above by the seconds

For the average investor it's currently inflationary. At the current rate of increase for 2017 over a billion new ripple will have been released into the market by the end of January alone. To project something as deflationary when the supply to your average investor is growing this quickly seems somewhat disingenuous. Any deflationary effects only occur 30 years into the future for the average investor.

[_nur]

So what I don't get is how does the consensus mechanism for ripple work?

With bitcoin this is easy: If I want to state what transactions I consider valid I would simply mine on the according chain.

But how do I state which transactions I consider valid in Ripple?

if your really keen
https://www.youtube.com/watch?v=7abKUs9tYZg
https://ripple.com/build/ripple-ledger-consensus-process/

[_nur]

I don't know why this con is on the first five most capitalised project on coinmarketcap.com, I report came out last week that it is one of the most on secured blockchain project out there, truly I'm not surprise about the result of the report but what do  surprise me is that people are still buying into it.

Because it's deflationary

watch this


now go to

https://charts.ripple.com/

see total XRP under Ripple Network Stats

it's lesser than the picture above by the seconds

For the average investor it's currently inflationary. At the current rate of increase for 2017 over a billion new ripple will have been released into the market by the end of January alone. To project something as deflationary when the supply to your average investor is growing this quickly seems somewhat disingenuous. Any deflationary effects only occur 30 years into the future for the average investor.

Comparing Digital Currencies? Market Cap Doesn’t Tell the Whole Story
https://bitcoinmagazine.com/articles/comparing-digital-currencies-market-cap-doesn-t-tell-the-whole-story-1482418052/

[_nur]

Ripple is the Illuminati/Archon gateway between the old banking cabal and the freaky new world of crypto.
Its very well done though, amazing system, compared to what is in use now.

But to claim its not under centralised control and "the world needs it" is a blatant lie.
So far, "they" sold out each and every rally, either "The Lab" or McCaleb.

I don't see why that would change in the foreseeable future.
Its just too nice a cow to milk, and the value of the token is totally unimportant to the institutional users.
The token isn't meant to be for payment, just for fees, so its in their best interest to keep it in a stable range.

Yup the world doesn't need ripple

that's why Vitalik of Ethereum wanted to join Ripple
https://youtu.be/fbEtivJIfIU?t=11m22s (proof)

[BitcoinNational]

The old banking cabal needs Ripple XRP - but why would they let outsiders profit from it?
It is just a payment rail.  And they still need to harness BTC liquidity to settle up.  So why not just use BTC?

Speed maybe, but not really.  

And there is no reason for them to beef up capital.  Since again it is just a cost cutting payment rail.  More capital means more risk.  What XRP needs is a tight, non-volital rate of exchange.

The old banking cabal has a toy called Ripple XRP.  And it is only profitable if the general public ignores the fact that they can wire it themselves, for less.

[_nur]

So why not just use BTC?

wild wild west and no real world application

Bitcoin's price is purely speculative and psychological because it is not in any way tethered to the economy the way fiat is (through taxation and legal enforcement). Fiat is literally backed by the entire sum of the economy; it's bitcoin that's truly created "out of thin air" (and a waste of electricity in a Green World). Nor does it have required governance that attempts to reign in the psychological swings. Bitcoiners have deluded themselves collectively into thinking that money can be a "pure abstraction"; it cannot. The evolution of money is the story of one progression to the next by way of a claim check to the previous money, which is and was always tied directly to the goods and services of an economy and guaranteed by some governing power.

The future of money is a DIGITAL claim check, part fiat, part commodities, issued by central authorities but cryptographically secure and tethered to an economic purpose at source. It will not be a cryptocurrency like bitcoin; the nation state (as long as it lasts) will always control – for good or ill – the supply and demand through inflationary and deflationary practices in reaction to however the economy grows or declines.

Bitcoin can disappear forever in a cloud of smoke – poof! Gone. Unrecoverable. Black hole. Digital fiat can be reissued when needed and programmatically melt away in a thief's hands.

But that's the least of bitcoin's problems. If it did ever become global money (which will never happen) then it will eventually be hacked, manipulated and ultimately destroyed by powerful forces and new discoveries, perhaps even a new Turing or supercomputer. It is not provably secure; it simply hasn't been cracked YET. There is no way we can base a world currency on something that within a few seconds a single person or machine can crack and destroy.

So we are left with digital tulips just waiting to implode, one way or another. The libertarian fantasy is what keeps it strong for now – a fantasy that faith in an algorithm can save money from the hysteria of the masses. It's become the "decentralization" mantra, a new religion, and Satoshi is Money Jesus come again to save us from the Sins of Central Bankers – who for the most part are actually trying to help us.

[BitcoinNational]

"a DIGITAL claim check, part fiat, part commodities, issued by central authorities but cryptographically secure and tethered to an economic purpose at source"

break that down:

1. "claim check" ... claim on what? credit in the system?
why not just direct CREDIT

2. okay you're saying ... claim check ... is for part fiat, part commodities, right?
cool ... and then what F is underwriting BTC ... could it be rate of exchange for part fiat, part commodities??

3.  "issued by central authorities"
see those are fightin words, you boot licker, and demonstrates that ... YOU DON'T GET IT!

4.  "tethered to an economic purpose at source"
HUH?  Transmit value, no?  Is that the purpose?  And yet XRP sucks at that given CAP/VOL facts. Store value, no?  Well XRP been okay at that, but only because "central authorities" have yet to dump.  Because the liquidity is not there.  

5. 'Digital fiat' ... $TET is kicking your XRP ass ... and specifically tethered to real known bank credits.  

6. 'The libertarian fantasy is what keeps it strong for now – a fantasy that faith in an algorithm can save money from the hysteria of the masses. It's become the "decentralization" mantra, a new religion, and Satoshi is Money Jesus come again to save us from the Sins of Central Bankers – who for the most part are actually trying to help us.'

It's the New Age, New Religion.   Get right with Money Jesus brother.

Central Bankers – who for the most part are actually trying to help us.
Central Bankers – who for the most part are actually trying to help us.
Central Bankers – who for the most part are actually trying to help us.

You bet they been 'trying to help' us since 1913

[debtstack]

From what I gather you are basically just creating a new credit card company with ripple without the cards. You are not in any way trying to change the current system of finance/economics. Basically it is a wolf in sheeps clothing.

Also, ripple would not survive the collapse of bitcoin. Neither would a large majority of altcoins. I guarantee you that most of those banks that are interested in ripple will eventually carve out the bits and pieces they like and establish their own systems and leave ripple by the wayside.

And if you want people to listen to why you think your xrp is good and necessary, try not to come off as condescending.

[_nur]

"a DIGITAL claim check, part fiat, part commodities, issued by central authorities but cryptographically secure and tethered to an economic purpose at source"

break that down:

1. "claim check" ... claim on what? credit in the system?
why not just direct CREDIT

2. okay you're saying ... claim check ... is for part fiat, part commodities, right?
cool ... and then what F is underwriting BTC ... could it be rate of exchange for part fiat, part commodities??

3.  "issued by central authorities"
see those are fightin words, you boot licker, and demonstrates that ... YOU DON'T GET IT!

4.  "tethered to an economic purpose at source"
HUH?  Transmit value, no?  Is that the purpose?  And yet XRP sucks at that given CAP/VOL facts. Store value, no?  Well XRP been okay at that, but only because "central authorities" have yet to dump.  Because the liquidity is not there. 

5. 'Digital fiat' ... $TET is kicking your XRP ass ... and specifically tethered to real known bank credits. 

6. 'The libertarian fantasy is what keeps it strong for now – a fantasy that faith in an algorithm can save money from the hysteria of the masses. It's become the "decentralization" mantra, a new religion, and Satoshi is Money Jesus come again to save us from the Sins of Central Bankers – who for the most part are actually trying to help us.'

It's the New Age, New Religion.   Get right with Money Jesus brother.

Central Bankers – who for the most part are actually trying to help us.
Central Bankers – who for the most part are actually trying to help us.
Central Bankers – who for the most part are actually trying to help us.

You bet they been 'trying to help' us since 1913

$XRP Ripple is a forex platform.

For retail services you will not beat PayPal penetration because of the massive investment into developing the UX they have achieved. Are they overcharging for their service? Yes. Will competition from other consumer facing retail payment solutions like Square, Dwolla, Venmo, Applepay, google pay etc drive down the price point, yes. Interledger will bind them all and Bitcoin will die when zerocash eats its lunch in the gambling and capital flight markets.

[_nur]

From what I gather you are basically just creating a new credit card company with ripple without the cards. You are not in any way trying to change the current system of finance/economics. Basically it is a wolf in sheeps clothing.

Also, ripple would not survive the collapse of bitcoin. Neither would a large majority of altcoins. I guarantee you that most of those banks that are interested in ripple will eventually carve out the bits and pieces they like and establish their own systems and leave ripple by the wayside.

answered
https://bitcointalk.org/index.php?topic=1752760.msg17508363#msg17508363

And if you want people to listen to why you think your xrp is good and necessary, try not to come off as condescending.

Ripple saves me $

BitCoin an instrument for gambling

[bittrojan]

XRP is centralized trash. If you're pro crypto you are against centralization.

[_nur]

XRP is centralized trash. If you're pro crypto you are against centralization.

argued

https://bitcointalk.org/index.php?topic=1752760.msg17508243#msg17508243

[_nur]

How Ripple help me save money

[_nur]

Where does ripple sit in the current system?

at the bottom



video: https://www.youtube.com/watch?v=3eqCv7SKAOQ

[BitcoinNational]

okay so you've got a thing for bankster knob.  there's no reasoning with the perverse.

Riddle me this Rippie ...

Where can I get a Ripple address?  With priv key that only I know.
I am sure you're well researched so that direct link is easy to provide.

1.  Download wallet.  2.  Run on home computer.  3.  Got private key.

[Spoetnik]

The old banking cabal needs Ripple XRP - but why would they let outsiders profit from it?
It is just a payment rail.  And they still need to harness BTC liquidity to settle up.  So why not just use BTC?

Speed maybe, but not really.  

And there is no reason for them to beef up capital.  Since again it is just a cost cutting payment rail.  More capital means more risk.  What XRP needs is a tight, non-volital rate of exchange.

The old banking cabal has a toy called Ripple XRP.  And it is only profitable if the general public ignores the fact that they can wire it themselves, for less.

Guys spammed the hell out of Poloniex's Troll-Box with "Ethereum is used by IBM" way back eh..
I disputed it and asked questions and was banned by staff and insulted again.
They had a notorious habit of doing that.. never challenge the bullshit their spammers post !
Never interfere with the victims the exchange is grooming.
Which is what theses coin count on.. they are counting on kids showing up with out doing any research then simply clicking the buy button.
They KNOW they are not looking into the coin first and are greedy and shallow and young & stupid.
Predators who are more often than not old guys preying on children (there is no age requirement in crypto)
These scammy fuckers prey on children for their lunch money with lies.

AKA: Big Banks are a comin' !
Both Ripple and Ethereum have played that card.
Ripple is the champ though.. they keep re-posting that "Big" news over and over here for years.
..to no effect  

What did the little assholes at Polo say when i probed them about IBM ?
They said they were testing the ETH technology in-house.
After a while i noticed they went 100% silent about it though.
So i asked.. hey loud mouth shill.. what happened ?
The same old usual suspects said oh, well.. IBM tried it out and decided to do their own custom stuff.

AHAH !

Hmm makes ya think now don't it ?

Guess what ?
I already predicted that would happen countless times far before the shilltard said it.  

I also at the time way back had asked the shill moron so.. uhhh..
Are the coins at Poloniex for ETH connected to the coins at IBM ?
They said uhh NO.
I said so their coins are in an internal network not connected to the outside world ?
He says.. uhh Yeah.
I said so tell me again why this matters to the victims on the chat box ?
i was banned soon after ROFL  

But hey, nice topic title ..it's not April 1st yet though  

I wouldn't bother guys.. these Ripple guys are the most persistent in crypto.
They are not going to walk away from this cash cow scheme they have going.
They got a taste and are not walking away..
There is a never ending supply off foolish naive greedy little children to victimize in Crypto so..

PS:
I have said lots in the last couple years..
..how do Banks "Use" one of these scammy ICO coins with out buying them ?
And why would they ?
Wouldn't a Large Bank simply hire a dev and fork the code etc and make their own private implementation so they don't have to buy idiot ripple ICO baggy coins ?

Fleecing Tot's for Token's is big business !
Just more White Papers to wipe my ass with... they are not worth the paper they are printed on ROFL

[BitcoinNational]

Seems strange to have this pop up after people questioning the huge releases of xrp by the foundation and questionable code. Me thinks some crowd control is in the works.

YEP!

---
game over
d'Spoet hath spoken

there is BTC
there are ALT 'shitcoins'

and then there is flatout SCAM trash
XRP is still king of that pile


There is enough open source 'witness/master-node' block chain code in the wild to build your own.
Cheap to run. And it is Fast. And the banks could settle credit line limits via BTC in under an hour. [most would be using the same BTC brokerage so could transfer in house] And top that off with a 'central banker' holding the traditional bond/legal/cash to settle up old skuul should any player go broke.  All for far less than a $300M chain.      

[bittrojan]

XRP is centralized trash. If you're pro crypto you are against centralization.

argued

https://bitcointalk.org/index.php?topic=1752760.msg17508243#msg17508243

No. Bitcoin has never been centralized not even because gavin put out updates that everyone went with. Nobody was forced to adopt any new code and xrp holders are forced to eat shit when the xrp corp releases millions and millions of new coins.

[flipme]

okay so you've got a thing for bankster knob.  there's no reasoning with the perverse.

Riddle me this Rippie ...

Where can I get a Ripple address?  With priv key that only I know.
I am sure you're well researched so that direct link is easy to provide.

1.  Download wallet.  2.  Run on home computer.  3.  Got private key.

https://github.com/ripple/ripple-client-desktop