Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[KeyserSoze]

I shouldn't even try to react here (because it's useless anyway) but it just ticks me off that you're trying to get people to burn their money.

...says the guy advertising gambling in his signature...

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[eiskalt]

I never said XRP value would or should increase. I'm saying all in all Ripple system is = bitcoin+coloredcoin +ethereum in more efficient.

R.I.P. Ripple?

[mah87]

I never said XRP value would or should increase. I'm saying all in all Ripple system is = bitcoin+coloredcoin +ethereum in more efficient.

You are practically screaming "I am invested in Ripple please make it go up".

Ripple has an interesting idea but fundamentally solving decentralized IOUs with a level of trust like bitcoin has yet to be invented.
A Gateway can go under and it is incentivized to cover up as long as possible. This trust issue can't be trivially removed

nop, I just know at some point everybody here will change their mind... but obviously nobody is ready to accept that bitcoin may be replaced by something better.

[wachtwoord]

Ripple is the worst currency I've ever seen.

You don't get it. Ripple is the most flexible payment network that has ever existed. The ONLY advantage of Bitcoin above Ripple is that Bitcoin is more spread actually, but it may change really really soon...

The Ripple payment network was a great idea and I was enthusiastic about whether it would work in practice.

Then the founders turned it into a get rich quick scheme by creating a currency (XRP, by many referred to as Ripple). This cured me of any form of belief in the people behind Ripple. The addition of a currency was and is completely unnecessary and even if the payment system take hold the value of the currency should approach zero.

I hope someone retries to make Ripple as it was supposed to be and I'll be curious about the practical feasibility of a distributed trust/IOU network.

I never said XRP value would or should increase. I'm saying all in all Ripple system is = bitcoin+coloredcoin +ethereum in more efficient.

Come on, shut up, you're telling everyone to buy XRP.

[Richy_T]

Ripple sounded like a great idea. Until I looked into it.

[KeyserSoze]

Ripple sounded like a great idea. Until I looked into it.

+1

[mah87]

Ripple sounded like a great idea. Until I looked into it.

you didn't look hard enough, do you even realize what kind of flexibility it allows ?

first generation of bitcoiner just don't get that mining is not an advantage. Payment industry will soon jump on board with ripple on use this awesome technology. Mark my words.

You think coloredcoins is great ? Yes it's great but ripple just do the work better "Cryptocurrencies are not so flexible, though a cryptocurrency can be designed to represent other assets (Ripple is such a cryptocurrency)." this quote is from coloredcoin official website, because they do understand what ripple is about.. stupid people in denial...

[TERA]

Ripple is the worst currency I've ever seen.

You don't get it. Ripple is the most flexible payment network that has ever existed. The ONLY advantage of Bitcoin above Ripple is that Bitcoin is more spread actually, but it may change really really soon...

The Ripple payment network was a great idea and I was enthusiastic about whether it would work in practice.

Then the founders turned it into a get rich quick scheme by creating a currency (XRP, by many referred to as Ripple). This cured me of any form of belief in the people behind Ripple. The addition of a currency was and is completely unnecessary and even if the payment system take hold the value of the currency should approach zero.

I hope someone retries to make Ripple as it was supposed to be and I'll be curious about the practical feasibility of a distributed trust/IOU network.

Same. When I first read about ripple, it was presented as some type of network which kept track of how much debt each person was to each person, or to a group, or something like that. This was very intriguing to me. There was nothing about a currency unit. When I read about "XRP" it confused me. According to the previous model of "ripple" I had learned of, there would have been no 'coin' to pump and dump and take on a volatile value. I thought the whole point of ripple was that that the value of your debt was fixed in fiat (or whatever was paid) "I owe Sally 100 dollars" and there was no risk of volatility etc. So when I later learned about "XRP" and it's "trading value" it started sounding like bogus to me and I quickly lost interest. If I want a coin-based system I already have Bitcoin which is far superior as a coin-based system because it is decentralized, and the inconsistency of XRP with the previous model of Ripple which was presented made it seem like a pump and dump scam.

[hdbuck]

Ok so I hear you all, thx for the concern. I basically understood the pros and cons.
Nontheless i'm going to go for it.
Imho, the only way Ripple could make it would be if it somehow undertaken by Banks (not that i am a fan of Banks, but hey, i guess they'll figure something).
And since I believe Banks like JPM, Citi etc are actively investigating cryptocurrencies, I figure they are likely to go with the simplest/cheapest/whatever dumbest way to attract/keep masses in their nets..
ergo ripple it is

edit: @mah87 care to donate some XRPs to a new ripplefellow??

[Chalkbot]

Ripple is the worst currency I've ever seen. Attacking Bitcoin in any way won't change that. The correct value of XRP is zero and I'm neither exaggerating nor kidding.

I shouldn't even try to react here (because it's useless anyway) but it just ticks me off that you're trying to get people to burn their money.

Pretty much. I finally did my homework on it, just in case. Read the description of how everything worked on the official website, and as a bitcoin user, there were a lot of unanswered questions and red flags left in my mind that I couldn't get any further clarity on from the site. I ventured off the site to read some outside perspectives, and eventually stumbled upon http://ripplescam.org/ which explained the things I had questions about succinctly, and exactly how I feared they might work.

To be honest, I don't see any advantage to ripple, as a currency. It exists on an infrastructure that reduces currency exchange fees as a result of replacing middleman institutions with distributed consumer risk (all the while collecting fees for "gateways"). It's still a debt based system, and a centralized one, at that. "Distributed" does not mean "decentralized", people. Please be very aware of that fact. If the government decides to shut down the company, then it's shut down. XRP goes to 0. If the company decides to close it's own doors, you have the same problem. They are also verifying their own transactions. Transactions that are based on a trust system.

While there are many flaws to ripple as a store of value, it still manages to market itself from the angle of seamless trades between currencies. Be careful with that idea though, it's something that is not unique to ripple at all. There is literally nothing standing in the way of a web service doing the exact same thing with bitcoin instead of XRP. Just connecting people and "gateways" on a trust network of mutual currency trade. That's not an exclusive feature of XRP, as they might lead you to believe.

[mah87]

... or something like that ... it confused me ... it started sounding like bogus to me and I quickly lost interest.

So, ok this is too complicated for you. It doesn't mean the technology behind ripple is not better than bitcoin... Damn , anyone who read what ripple is about and understand how it works ?

[mah87]

Ripple is the worst currency I've ever seen. Attacking Bitcoin in any way won't change that. The correct value of XRP is zero and I'm neither exaggerating nor kidding.

I shouldn't even try to react here (because it's useless anyway) but it just ticks me off that you're trying to get people to burn their money.

Pretty much. I finally did my homework on it, just in case. Read the description of how everything worked on the official website, and as a bitcoin user, there were a lot of unanswered questions and red flags left in my mind that I couldn't get any further clarity on from the site. I ventured off the site to read some outside perspectives, and eventually stumbled upon http://ripplescam.org/ which explained the things I had questions about succinctly, and exactly how I feared they might work.

To be honest, I don't see any advantage to ripple, as a currency. It exists on an infrastructure that reduces currency exchange fees as a result of replacing middleman institutions with distributed consumer risk (all the while collecting fees for "gateways"). It's still a debt based system, and a centralized one, at that. "Distributed" does not mean "decentralized", people. Please be very aware of that fact. If the government decides to shut down the company, then it's shut down. XRP goes to 0. If the company decides to close it's own doors, you have the same problem. They are also verifying their own transactions. Transactions that are based on a trust system.

While there are many flaws to ripple as a store of value, it still manages to market itself from the angle of seamless trades between currencies. Be careful with that idea though, it's something that is not unique to ripple at all. There is literally nothing standing in the way of a web service doing the exact same thing with bitcoin instead of XRP. Just connecting people and "gateways" on a trust network of mutual currency trade. That's not an exclusive feature of XRP, as they might lead you to believe.

ripplescam.org doesn't explain how ripple works AT ALL. This is crazy how people eat bullshit.... Seriously, ripplescam.org is 100% wrong about ripple, this is JUST NOT WORKING THE WAY IT IS DESCRIBED... damn... anyone thinking instead of eating propaganda ?

[TERA]

... or something like that ... it confused me ... it started sounding like bogus to me and I quickly lost interest.

So, ok this is too complicated for you. It doesn't mean the technology behind ripple is not better than bitcoin... Damn , anyone who read what ripple is about and understand how it works ?

I understood how the original ripple worked. XRP is what confused me and sounded like bogus. I didn't bother reading into 'XRP' that much.

[mah87]

... or something like that ... it confused me ... it started sounding like bogus to me and I quickly lost interest.

So, ok this is too complicated for you. It doesn't mean the technology behind ripple is not better than bitcoin... Damn , anyone who read what ripple is about and understand how it works ?

I understood how the original ripple worked. XRP is what confused me and sounded like bogus. I didn't bother reading into 'XRP' that much.

you'll follow when it's mainstream.

[TERA]

What was wrong with the original model of ripple which was debt-based and didn't have a unit with a volatile value which could be pumped and dumped?

[hdbuck]

yeayyy here is my ripple adress :
rKpFzneC3hpuz4H6JfUqEnqDNgqZ2i5g7a

[Chalkbot]

if ripplescam.org is misrepresenting facts, and the official ripple site is omitting them, then where are users expected to get the info?

[600watt]

Ripple sounded like a great idea. Until I looked into it.

+1

+2

+3

[MNDan]

The only thing I want rippled are my potato chips.

[podyx]

spread ur ripple propganda shit somewhere else