Creating a fair alternative to Ripple

[ooeygooeygold]

Ugh, a viral marketing campaign and a mobile website full of technobabble, RippIn makes me feel nauseous and that was before the "Facebook money" references that seem to be everywhere on the net. If you're going to hijack a decent discussion thread with this obviously corporation-backed new enterprise then at least tell us a good amount about how it offers a "fair alternative to Ripple". There is some incentive to referring new users to the program, so your approach, unless elaborated on, seems rather ingenuous.

I honestly don't think there is a "fair alternative to Ripple"  just going by the facts I have read on ripple and trying to put 2 and 2 together it would make scene to have a social network open source peer-to-peer payment system. There is no incentive for me offering rippln to anyone only that one day it could be as big as tweeter or facebook and people are trading XPRs for a lot more then what I have been paying for them over the last few days

[anti-scam]

Ugh, a viral marketing campaign and a mobile website full of technobabble, RippIn makes me feel nauseous and that was before the "Facebook money" references that seem to be everywhere on the net. If you're going to hijack a decent discussion thread with this obviously corporation-backed new enterprise then at least tell us a good amount about how it offers a "fair alternative to Ripple". There is some incentive to referring new users to the program, so your approach, unless elaborated on, seems rather ingenuous.

I honestly don't think there is a "fair alternative to Ripple"  just going by the facts I have read on ripple and trying to put 2 and 2 together it would make scene to have a social network open source peer-to-peer payment system. There is no incentive for me offering rippln to anyone only that one day it could be as big as tweeter or facebook and people are trading XPRs for a lot more then what I have been paying for them over the last few days

Creating that alternative, sans XRP, is the point of this thread.

[ooeygooeygold]

Creating that alternative, sans XRP, is the point of this thread.

Why? The goal is to build an open source payment network that anyone in the world can use, that allows people to send money around the internet for practically nothing, and that allows people to store value in a non-inflating currency. Once we have done that do you really care about alternatives?

[Bro]

people are crazy to buy ripple coins or whatever they are, a community fork will be launched as soon as they release the source code, and if they don't release the source it will just never take off

anyway I believe more in the future of LTC than Ripple (RIP)

[cdog]

Ripple will fail for a simple reason.

$100 in debt is not worth $100. Its worth less.

Aside from the knee slapping joke that is XRP.

[Bitcoin Oz]

rippln.com

Can you explain some more about this?

sign that, explain it please.

I don't know much but I'm watching it grow fast on facebook I will send you invite if you like pm with your name and email
https://www.facebook.com/Rippln?fref=ts

I tried looking at their site but it seemed like a whole lot of marketing mumbo jumbo and not a real explanation of what it is. I don't think it's what we're looking for.

yea what do you think their marketing for bud? maybe its a social network open source peer-to-peer payment system...sound familiar? Not like I know though...do your reading

Its a scam

http://mlmblog.net/site/2010/08/izigg-scam-will-the-ftc-step-in-and-file-a-lawsuit-to-shut-this-down.html

[ooeygooeygold]

Its a scam

http://mlmblog.net/site/2010/08/izigg-scam-will-the-ftc-step-in-and-file-a-lawsuit-to-shut-this-down.html

Just cause he started 2 companies doesn't make it a scam izigg was a great marketing company and anyone in it should be happy to have learned what they did...That said ripple has a strong economic incentive to distribute the coins as fair as they can. They want to get as many people to have coins as possible. This is what will make the network viable. It doesn't help them to hoard all the coins if no one is using the network. If you don't believe they have their own economic interests in mind then just ignore rippln and just use the XRPs to send around to other currencies. If you just do that you really shouldn't care what happens XRPs.

[TimeBandit]

Ripple is in BETA, it is subject to change, let's not get the pitchforks just yet!

[Red]

I'm pretty sure most people don't grasp what Ripple is. It's not money in the sense that BTC is money. It is not a store of wealth at all. Their is really no point in speculating in XRPs. That's not what it's for.

If there is a scam it is that OpenCoin used the "Coin" suffix to confuse BitCoiners. It's a self-promotion scam.

[anti-scam]

Ripple is in BETA, it is subject to change, let's not get the pitchforks just yet!

They have already stated their intention not to change this particular aspect of Ripple so criticizing it is appropriate.

I'm pretty sure most people don't grasp what Ripple is. It's not money in the sense that BTC is money. It is not a store of wealth at all. Their is really no point in speculating in XRPs. That's not what it's for.

If there's no point in speculating in XRPs then why is that OpenCoin's business model?

[Come-from-Beyond]

I'm sure that by now most of you know about Ripple, an idea created by Ryan Fugger for an open, decentralized payment network...

When a new decentralized currency/payment network is developed the very 1st question should be asked (and answered):

How to reach a consensus?

So, how r u going to reach a consensus when different nodes contradict each other?

[Red]

If there's no point in speculating in XRPs then why is that OpenCoin's business model?

It is not speculating in the sense that BTC is speculating.
XRP's already have a pre-planned *FIXED* value. We just don't know what it is. That is why I was asking for somebody to send me XRP. Then we would see how much is MISSING.

In other words, what is their transaction FEE in XRP.
They already told us their transaction fee in USD ($0.0001).
If I could see the the transaction fee in XRP, the FIXED rate is simple division.

If anyone is interested. My ripple address is:

rHUipvsbBKagmU5qxFYCVfRoHKkBaYztm2

I'll send the coins right back. That is indeed the point of the exercise.

[Red]

So, how r u going to reach a consensus when different nodes contradict each other?

What do you mean? On price? Or on transaction history?

[Come-from-Beyond]

So, how r u going to reach a consensus when different nodes contradict each other?

What do you mean? On price? Or on transaction history?

Transaction history. Balances. Ownership. Whatever.

[Red]

Way back in 2010 I proposed that BitCoin's intention was to be a Global kind of LETS system.

There has been much discussion on this site about how best to describe bitcoin to the uninitiated. Some people, favor currency metaphors, others alude to commodity metaphors. Others caution either of these as dangerous taunts to authority.

I posted the following in another thread and there was a suggestion that I write an extended article about my simile. It seems likely that my suggestion is as polarizing as any other. So to avoid any unnecessary aggravation, I'm soliciting comments in advance.

Any thoughts are appreciated.

------
I'd like to submit that I think the most apt description of bitcoin is that it is most like a Global Exchange Trading System (GETS) which is a variation on the LETS concept that isn't for hippies.

Descriptively it differs because it's community is loosely knit and global rather than an intertwined small-town. As such, there can be no commonly trusted party to operate and monitor the system, so that function is trusted to redundancy and mathematics. (block list)

LETS communities can rely on "local knowledge" of peoples historical behavior and intentions. As such it is perfectly reasonable for them to advance credit to people (negative balances) in certain situations. In a GETS community advanced knowledge of all parties and intentions is not practical or even preferred. As such, GETS operates on a zero credit policy. (no negative balances)

Also, since GETS trade globally, there is no "national currency" that can be used for equivalence. As such, GETS defines it's own unit for accounting purposes. Since this currency must necessarily vary against some national currencies, the LETS strict "no interest" principle cannot be preserved.

----
I think if people understood LETS they would intuitively understand GETS. The rest of the bitcoin details are just one possible GETS monetary policy.

Now, Ripple is proposing itself to be THE global exchange trading system. I think that has significant consequences for BitCoin.

[Red]

Transaction history. Balances. Ownership. Whatever.

Oh, it turns out that problem is pretty easy. They've already solved it. You will never notice a single consensus problem with Ripple. That's what the XRP are for.

[ooeygooeygold]

When a new decentralized currency/payment network is developed the very 1st question should be asked (and answered):

How to reach a consensus?

So, how r u going to reach a consensus when different nodes contradict each other?

Watch the facebook page.... https://www.facebook.com/Rippln  click the likes and look when it started getting promoted 2 weeks ago already 12k likes and 11k people talking about it...having no idea what rippln is they just know its going to be the "next big thing" and invite all your friends look at them now....rippln has hit 200k people just waiting for an app they have no idea about and what it is capable of...

[Red]

What is Rippin? Is that a project of yours?

Weren't they paying people in XRP for likes?
Where's that link?

Edit: http://slickdeals.net/f/5963306-300-Ripples-XRP-free-with-Like-on-Facebook-page-Ripple-is-virtual-currency-similar-to-Bitcoins?

Damn, I don't have a facebook account either.

[ooeygooeygold]

What is Rippin? Is that a project of yours?

Weren't they paying people in XRP for likes?
Where's that link?

Edit: http://slickdeals.net/f/5963306-300-Ripples-XRP-free-with-Like-on-Facebook-page-Ripple-is-virtual-currency-similar-to-Bitcoins?

Damn, I don't have a facebook account either.

Thanks for sharing that link hopefully they send me my 300 XPRs for my like I will post if they do

and lol no i wish rippln was my project I just stumbled upon it from some of my friends promoting it who really have no clue on what is it they don't even know what a XPR is yet they will find out soon enough though

[anti-scam]

I'm sure that by now most of you know about Ripple, an idea created by Ryan Fugger for an open, decentralized payment network...

When a new decentralized currency/payment network is developed the very 1st question should be asked (and answered):

How to reach a consensus?

So, how r u going to reach a consensus when different nodes contradict each other?

Ripple's basic protocol seems fairly sound in this manner.

Oh, it turns out that problem is pretty easy. They've already solved it. You will never notice a single consensus problem with Ripple. That's what the XRP are for.

XRP has to do with preventing the network from being overloaded by transactions. It has nothing to do with reaching consensus.

Watch the facebook page.... https://www.facebook.com/Rippln  click the likes and look when it started getting promoted 2 weeks ago already 12k likes and 11k people talking about it...having no idea what rippln is they just know its going to be the "next big thing" and invite all your friends look at them now....rippln has hit 200k people just waiting for an app they have no idea about and what it is capable of...

Your response has nothing to do with his question. Please quit using this thread to spam your bullshit.