Ripple or Bitcoin

[cdog]

"I am an employee of OpenCoin"

At least you are honest about that. Everyone has to earn a living, but man, I dont know how you sleep at night.

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[JoelKatz]

At least you are honest about that. Everyone has to earn a living, but man, I dont know how you sleep at night.

The secret is to never make an argument you don't believe or can't rationally defend and to concede when you are wrong as quickly as possible rather than digging yourself in further. I have also learned that extending people an almost unreasonably strong presumption that they are arguing in good faith goes a long way as well. The range of honest disagreement is much broader than generally appreciated and as long as you're not talking about religion, most people can be reached by reason eventually. You just have to keep trying.

[wolfgang_spraul]

Dear JoelKatz,
I'm happily outing myself as a fan of yours. My English is by far not as good as yours, but your work is admirable. Keep up the good work. THANK YOU!

[herzmeister]

ripple.com will be a fine service, it will be technologically disruptive, but not so much politically.

I said already that its biggest problem (for bitcoiners anyway) is privacy, as you'd mostly use only one address or account for anything.

And guess what: http://gigaom.com/2013/05/14/google-ventures-invests-in-opencoin-the-firm-behind-bitcoin-exchange-ripple/

[redwraith]

I misunderstood.

I'm sorry I'm taking your quote out of context, but it really defines the main problem that besets Ripple at the moment. 

[redwraith]

At least you are honest about that. Everyone has to earn a living, but man, I dont know how you sleep at night.

The secret is to never make an argument you don't believe or can't rationally defend and to concede when you are wrong as quickly as possible rather than digging yourself in further. I have also learned that extending people an almost unreasonably strong presumption that they are arguing in good faith goes a long way as well. The range of honest disagreement is much broader than generally appreciated and as long as you're not talking about religion, most people can be reached by reason eventually. You just have to keep trying.

The way that some people are reacting to Ripple you might as well be talking about religion. 

[MPOE-PR]

I'm not sure what you mean. I think you're viewing Ripple and Bitcoin through an unreasonably competitive lens. Ripple and Bitcoin are not going to be like Coke and Pepsi any time soon,

If Coke is USD, and Pepsi is EUR, then Bitcoin is New Coke and Ripple is a system of tubes that sprays any liquid you want to deliver into your friends' mouths. XRP would be the pressurized air that runs this system of tubes; you can trade bottles of this pressurized air but you can't drink it, only use it to send liquids throught the tubes. And you'd only let those you trust pour things into your mouth over the internet, so if you want give some raw milk to a friend of a friend in Japan, you pour the raw milk into the mouth of a mutual friend that you both trust, and he'll forward the raw milk to the guy in Japan. Excelsior!

You sir are too cool for this place and thus hereby cordially invited to #bitcoin-assets.

Ripple is an innovative banking system made by people who don't understand the most basic facts about banking or finance. As such, even if it worked technically (which it probably won't, seeing how the geniuses behind MtGox came up with the world's most victim of its own success trade engine already) it is still guaranteed to drown us in lol.

FTFY.

[mmeijeri]

However, it would seems it would make it easier to trade bitcoins as well.

For me that is the killer application for Ripple.

[Este Nuno]

At least you are honest about that. Everyone has to earn a living, but man, I dont know how you sleep at night.

The secret is to never make an argument you don't believe or can't rationally defend and to concede when you are wrong as quickly as possible rather than digging yourself in further. I have also learned that extending people an almost unreasonably strong presumption that they are arguing in good faith goes a long way as well. The range of honest disagreement is much broader than generally appreciated and as long as you're not talking about religion, most people can be reached by reason eventually. You just have to keep trying.

Were you well versed in amature internet arguing before becoming a professional? Have you lost your love for the game now that you do it for a living?

I know you're Chief Cryptographer for Open Coin, but I can only assume they pay you a second salary for your work online as Vice President of Retard Management.

[QuantPlus]

"I am an employee of OpenCoin"

At least you are honest about that. Everyone has to earn a living, but man, I dont know how you sleep at night.

Says a poker hustler whoring a sleazy gambling site on a cryptocurrency forum...
To an elite software engineer making an honest living.

Building >>> Exploiting

I wanna wear a vial of JoelKatz blood around my neck.

[BitcoinBug]

Dear JoelKatz,
I'm happily outing myself as a fan of yours. My English is by far not as good as yours, but your work is admirable. Keep up the good work. THANK YOU!

My feelings exactly... Thank you JoelKatz!

[MPOE-PR]

Isn't Joel Katz the retard of cherry truck fame? Oh yes he is. Heh.

[JoelKatz]

Isn't Joel Katz the retard of cherry truck fame? Oh yes he is. Heh.

Hey, I'm not the one who lent Patrick money at usurious rates knowing that he was going to use the money in a business that was doomed to fail and then insisted I was doing him a favor. I'm the one who pointed the finger at you for that bit of stupidity.

[timeofmind]

Maybe someone can clear this up my understanding of ripple for me.

So right now, we have one Ripple server, but the code for that is intended to be released at some point, and then we are supposed to have many ripple servers that all use a protocol in order to come to an agreement on the order of transactions, which is what is supposed to decentralize the network and make it more robust? But where is the motivation for any large number of people to run these servers? Of course, in bitcoin the motivation comes from the rewards for each block, but how does Ripple encourage many people to participate in running these servers?

[pwi]

A few things:

1: bitcoin >>>>>>>>>>>Ripple
2. Ripple may have utility or may be a scam; or both.
3. This thread made me laugh...multiple times   
4. If Ripple proves itself as legit, I will likely adopt as relatively late as I did Bitcoin 02/2013.

Fashionably late and utterly skeptical. 

[🏰 TradeFortress 🏰]

Maybe someone can clear this up my understanding of ripple for me.

So right now, we have one Ripple server, but the code for that is intended to be released at some point, and then we are supposed to have many ripple servers that all use a protocol in order to come to an agreement on the order of transactions, which is what is supposed to decentralize the network and make it more robust? But where is the motivation for any large number of people to run these servers? Of course, in bitcoin the motivation comes from the rewards for each block, but how does Ripple encourage many people to participate in running these servers?

They get paid by OpenCoin Inc?

[smoothie]

What I find funny is that the ripple advocates are trying to convince all of us that ripple is a great alternative/compliment to bitcoin but without any real PROOF.

i.e. source code.

So far it is all talk. And until the source is release it will be all talk.

What do salesmen do? TALK. 

[yocko06]

I don't trust friends with my money because people are always useless with their money management. this is nothing new for the world. even the people running the country's can't get money management right.
Now, why would i trust my money with my friends friends friends friend? come on bro he's a good bloke! lmfao
now why would I trust ripple? There is nothing but shady business tactics going on here. Ripple/open coin employees disguising themselves as bitcoin users to attempt to fool new bitcoin users that the long term bitcoin guys are on board with ripple. Don't get me wrong I opencoin/ripple guys full credit on being able to make a massive amount of money and have huge amount of control, good on you guys if it works your a superpower. (illumanaty)
Ripple is not open source
Ripple is a centralized company (opencoin) easy to kill for governments
Ripple is owned and controlled by a governing body
Ripple can be made to revers transaction by a court order.
Ripple is no easier to use than bitcoin.
Ripple is poluting our bitcoin growth and forums with their propergander.
Ripple is censoring the bitcoin forum from bad experiences with ripple.

[timeofmind]

Actually, friends are the worst people to lend money to. Money/business relationships should be left to the impersonal.

[JoelKatz]

Actually, friends are the worst people to lend money to. Money/business relationships should be left to the impersonal.

This is a very unfortunate truth. And yet if your friend called you up and asked you to help him move some things, you'd probably happily give him $50 worth of your labor. But if he was short $50 to buy groceries, there's really no way to help him, and he'll wind up putting it on a credit card or, worse, using a payday loan.

There are a lot of barriers to lending money to friends. Ripple can knock down a lot of them. For example, you don't have to actually ask your friends to borrow money. You don't have to meet with them in person to pay them back. You can keep track of who borrowed how much and people are cut off automatically when they hit a limit. I honestly don't know if that's enough to make it work. It may or may not be. Social changes will also be needed.

But if that happens, I think it will drastically change the way people think about money for the better. But I don't see it happening any time soon.