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

[chessnut]

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

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[mah87]

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?

XRP's value is like a postage stamp, a transaction fee. It could be a good stepping stone to integrate with banking but its already getting left behind in that and many of its features can be handled with Bitcoin contracts.

except that bitcoin contracts don't exists and ripple is actually implementing contracts and features that ethereum are still trying to define ...

[mah87]

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

everything is on the official website and wiki... The point is that ripple is not aiming the dumb bitcoin community anymore... People like pump and dump and that's it.

If you want to understand ripple you need to make some efforts, otherwise you just wait few months that it goes mainstream then some bloomberg guy will explain it to you the same way you learned about bitcoin...

[hdbuck]

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?

XRP's value is like a postage stamp, a transaction fee. It could be a good stepping stone to integrate with banking but its already getting left behind in that and many of its features can be handled with Bitcoin contracts.

except that bitcoin contracts don't exists and ripple is actually implementing contracts and features that ethereum are still trying to define ...

thats exactly what im betting on

edit: thx for the tip mah87

[TERA]

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

then some bloomberg guy will explain it to you the same way you learned about bitcoin...

I don't think that's how most people here learned about Bitcoin. 

[bitjoint]

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

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[mah87]

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

then some bloomberg guy will explain it to you the same way you learned about bitcoin...

I don't think that's how most people here learned about Bitcoin. 

yeah you learned through silkroad... so "underground" dude...

[mah87]

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

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5 people waiting for mainstream media to tell them they are wrong. This is crazy how people are reluctant to see innovation... You are reacting the same that people rejecting and mocking bitcoin in 2011-2012

[TERA]

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

then some bloomberg guy will explain it to you the same way you learned about bitcoin...

I don't think that's how most people here learned about Bitcoin.  

yeah you learned through silkroad... so "underground" dude...

What? I didn't say any of that.  Point is they learned about Bitcoin by actually using it for a real product/service, doing real business, and fulfilling a real technological need where the technology was actually used - not a fantasy. Also, it started as a grassroots movement, with a community of technical people that were passionate about the technology, and didn't need to be promoted in the media.

[Grafzep]

Bitcoin elegantly engineers the need for trust out of transactions; ripple does quite the opposite.

[MANofthePEOPLE]

What's a good entry point to buy LTC? Put buy orders at 17,5 but it's been dropping quite a bit

[mah87]

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?

XRP's value is like a postage stamp, a transaction fee. It could be a good stepping stone to integrate with banking but its already getting left behind in that and many of its features can be handled with Bitcoin contracts.

except that bitcoin contracts don't exists and ripple is actually implementing contracts and features that ethereum are still trying to define ...

thats exactly what im betting on

edit: thx for the tip mah87

Wake me up when they do something about the trust issue. Contracts as part of the message passing protocols is just an agreed format, as it stands contracts can be as simple as an agreement between parties in the message field and stored in the blockchain.

what about trust issue ?

contracts are not about writing something in the blockchain, it's about executing transaction through the blockchain...

Here is the beginning of what it is gonna be implemented in the next few months
https://ripple.com/wiki/Multisign

[mah87]

Bitcoin elegantly engineers the need for trust out of transactions; ripple does quite the opposite.

that's why bitcoin and ripple can coexist. However having a trustless system run that way will lead bitcoin to slowly decline IMO.

[hdbuck]

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?

XRP's value is like a postage stamp, a transaction fee. It could be a good stepping stone to integrate with banking but its already getting left behind in that and many of its features can be handled with Bitcoin contracts.

except that bitcoin contracts don't exists and ripple is actually implementing contracts and features that ethereum are still trying to define ...

thats exactly what im betting on

edit: thx for the tip mah87

Wake me up when they do something about the trust issue. Contracts as part of the message passing protocols is just an agreed format, as it stands contracts can be as simple as an agreement between parties in the message field and stored in the blockchain.

well i said i didnt know what i was doing anyway, just diversifying my investment. plus, i dont think banks pretty much care about trust issues ^^

[Grafzep]

Banks make a lot of money supplying the 'trust' between transacting parties. They care about it a lot. Bitcoin does away with the need for them and their fees.

[mah87]

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well i said i didnt know what i was doing anyway, just diversifying my investment. plus, i dont think banks pretty much care about trust issues ^^

Nothing wrong with that and it might turn out to be useful but I doubt it can be a game changer, closed development simply can't either keep up with or try to fight open development and Bitcoin's put in the foundations for a whole new field of software/communications.

you are really not informed at all about ripple ... It's open source since 6months dude !

[seleme]

What's a good entry point to buy LTC? Put buy orders at 17,5 but it's been dropping quite a bit

I wouldn't really buy it yet.. the Huobi hype is over, it will move now with Bitcoin again, and since Bitcoin is most probably going south, LTC will follow it, probably even more aggressive.

[arepo]

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

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5 people waiting for mainstream media to tell them they are wrong. This is crazy how people are reluctant to see innovation... You are reacting the same that people rejecting and mocking bitcoin in 2011-2012

it's called brand loyalty, and it's human nature. give up on trying to sell the idea here, it is exactly like trying to explain bitcoin to the somethingawful crowd back in 2012. not saying ripple is or isn't viable, but if XRP is not a pump&dump then there's little incentive for you to try to get more people involved, anyway. if it's destined for success don't waste your energy in the meantime just wait for it to become mainstream.

[hdbuck]

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well i said i didnt know what i was doing anyway, just diversifying my investment. plus, i dont think banks pretty much care about trust issues ^^

Nothing wrong with that and it might turn out to be useful but I doubt it can be a game changer, closed development simply can't either keep up with or try to fight open development and Bitcoin's put in the foundations for a whole new field of software/communications.

true true, im also a pro open development, however, it appears to me that closed devlpt actually attracts the masses, hence the money (dunow if thats a relevant example but im thinking of Apple & Microsoft vs Linux). So i dont think banks are likely to promote open dvlpt, even more if its directly related to their "future" transaction system whatsoever.
Time will tell

edit: arf just saw mah87 comment about ripple being opened for 6months already.. haha. anyway, i shall buy and forget about it at least for this year.

[adamstgBit]

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

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