Ripple SCAM: You *do not* own BTC or USD, you own debt that will collapse

[nameface]

Question -- so am I correct in thinking that Ripple allows you to send XRP alone through the system, while it does NOT mediate sending BTC through the system, but only BTC IOUs that have to be sent separately (off-network) through the transacting gateways?

BTC would be converted to XRP and Ripple will select a path for your transaction based on trust lines.

If you want to send BTC from a Bitcoin wallet to another Bitcoin wallet then there's really no need for Ripple. If you want to do anything else with money, you might soon get some good use out of Ripple.

[mmeijeri]

You don't need to convert to XRP to make use of the rippling system, separate trust lines exist for different currencies. I'm not sure you can even grant trust in XRP. It is inferior to straight XRP for payments,  but it could be useful for community credit, something I'm skeptical about.

[hl5460]

XRP just has fancy UI and no value. Dump it and stop discussing it. Let it die.

[digitalindustry]

Ha ha you can have your Debt.

you can eat your Debt .

You can suck a monkey off with your Debt .

Most people spend their lives trying to get out of debt , then these idiots want to push this shit on us here?

what is this?  the AOL net?

please FUCK OFF WITH RIPPLE . we/I don't care. (just speaking strictly for myself here ; ) )


**note I’m happy to have a long conversation with anyone about why there is a distinct possibility that many people will DIE, in a terrible deflationary spiral, all caused by a Debt money system.

i don't know that much about Ripple , except to know that it is NOTrelevant, to this system of open design.

Thank you.

[cdog]

Ripple will fail because $1 in debt is not worth $1, its worth less.

I've heard you repeat that false analogy before. You clearly have no clue about Ripple. The original classic.ripplepay.com has been functioning successfully for years. If you don't like it then don't use. The rest of us will move forward.

How much personal lending have you done? There is a big difference between a bank, paypal, and Joes brother who lives down the street.

Ive made several personal loans ranging from a few hundred to several thousands. All I can say about the loaning business, is its best left to banks.

If you want to make a habit of giving out tons of credit in interest free personal loans, go right ahead. Enjoy.

The rest of us will move forward.

[tutkarz]

In fact, bitcoin is pretty close to everything I want out of money. Why do I want to use ripple, again?

To exchange between BTC and fiat currencies. It's the killer app for Bitcoin enthusiasts.

Can you explain more? So ripple is like Mtgox? I can wire cash to a bank somewhere and get BTCs in return?

Ripple is made up of two parts really:

1) the XRP (ripple units) part
It fails because it is 100% premined and is under a 51% attack from the founders, but there is the advantage of faster transaction times. All it needs is PoW and no premining, however the Ripple developers do not wish to release the source code for others to contribute and make forks of it.

2) the exchange part
Where you can exchange debt in exchange for other debt or XRPs. It works as long as no gateway collapses.

ad.1 you forgot to add XRP has no value so you cant transfer any value using it. Calculation is simple 0 * value = 0
And since they are handing xrp for free there is no way for it to have value on its own.

[virtualfaqs]

In fact, bitcoin is pretty close to everything I want out of money. Why do I want to use ripple, again?

To exchange between BTC and fiat currencies. It's the killer app for Bitcoin enthusiasts.

Can you explain more? So ripple is like Mtgox? I can wire cash to a bank somewhere and get BTCs in return?

Ripple is made up of two parts really:

1) the XRP (ripple units) part
It fails because it is 100% premined and is under a 51% attack from the founders, but there is the advantage of faster transaction times. All it needs is PoW and no premining, however the Ripple developers do not wish to release the source code for others to contribute and make forks of it.

2) the exchange part
Where you can exchange debt in exchange for other debt or XRPs. It works as long as no gateway collapses.

ad.1 you forgot to add XRP has no value so you cant transfer any value using it. Calculation is simple 0 * value = 0
And since they are handing xrp for free there is no way for it to have value on its own.

If XRP has no value, I'll gladly take it off you. XRP is worth 52 XRP/$1 at the current exchange rate.

[timeofmind]

If XRP has no value, I'll gladly take it off you. XRP is worth 52 XRP/$1 at the current exchange rate.

Considering that there are already 100 billion in existence, I find that to be highly overpriced. When the market gets flooded with these, they are liable to decrease in value.

100 billion divided by 11 million bitcoins = 9090 times the amount of XRP as bitcions in existence. Take this into account, and even if they were equivalently valued in terms of utility, they should still be worth 9090 less per unit. Bitcions are valued at $130/ coin now, so 130/9090 = $0.0143 per XRP, which means you should be able to buy 70 XRP for a dollar, even if XRP are now considered to be equivalent in utility as bitcoins! Already XRP are being valued higher than bitcoin...