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Author Topic: Why Ripple is Superior to Bitcoin...  (Read 5372 times)
lexico
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May 10, 2013, 07:50:00 PM
 #41

That Bitcoin debit cards are not yet available is not a fault of the currency, it just means that nobody has set up a Bitcoin debit card service yet.

It's completely doable.

You are sidestepping the issue.  Having a Bitcoin debit card would still involve people moving USD (or other currencies) into Bitcoin in order to put the Bitcoin on the card.   Why bother?  Just buy the pizza with USD.  Done.

Until this issue addressed, the only people who will be paying with Bitcoin are miners, early adopters, and idealists who already have them.   And yes, you will find vendors that will accept them using services that turn them immediately into their local currency because who would want to turn away business?  And of course, some vendors might want to hold on to some of the BTC for speculative reasons.   However, none of that makes it a mainstream currency or anything close to it.

Mainstream usage will start with a payment system that doesn't interfere with the existing one (or makes things a lot easier).   From there, adoption of alternate currencies will flourish.  That's my view on this.  I'm happy to consider other views though, I just haven't heard any yet.

no one said that ripple isn't solving some practical issues. The problem is just that it introduces a shitload of new problems that you are trying to ignore.
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May 10, 2013, 07:52:25 PM
 #42

in ripple space xpr is centralized and risk diverted to users. The only point to having centralized gov from a user perspective is to be able to hold gov responsible. In ripple you carry the risk - twofold. Many people dont understand this - therefor I will keep the free x' I got n sell them for an upside reward with zero risk. I like the idea of trust, dislike the idea of putting trust.
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May 10, 2013, 07:57:14 PM
 #43


However, as an everyday way of making payments to other people, not very useful (unless you already have tons of them and your friends and vendors have tons of them).   In order to buy a pizza with Bitcoin, I need to find a merchant that accepts Bitcion, and then I need to find a way to get my money to an exchange (at a fee), then buy Bitcoin on that exchange (at a fee).    That's a lot of work and expense to buy a pizza.   Now I might be ideologically inclined to go through that work, but most people won't be.  Most people are going to whip out their debit card and make a payment to the pizza guy with their fiat currency.   That simple.


That Bitcoin debit cards are not yet available is not a fault of the currency, it just means that nobody has set up a Bitcoin debit card service yet.

It's completely doable.

there probably wouldn't be a market.
It is just incredibly stupid to lend something in a deflationary currency.  if I had borrowed 1000btc to buy a bicycle 2 years ago then I would now have to work for the next 10 years to pay it back. I sincerely hope no one is that stupid.
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May 10, 2013, 08:02:49 PM
 #44

Ripple is a closed source scam startup. Anyone who buys into that crap needs their head checked out.
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May 10, 2013, 08:07:56 PM
 #45

Why don't you answer these fair questions?  
does it hurt too much to think about things like 'If their page gets down all the ripple system is dead. simple as that.' ?

and besides it does matter that it is closed source, since there is absolutely no proof of security if no-one can review it. that alone sets of the alarm bells over here (*scam* *scam*)

What page are you referring to?

It only matters that it's closed-source if they don't open the source to the public after it's out of Beta like they promised.

But, because you guys can't seem to get your brains off the little details (or even the big details) that are irrelevant to the big picture...

Imagine for a moment that Opencoin keeps their server software closed for YEARS.  That's right YEARS.   And during those years they manage to get all kinds of financial providers to use their system.  They help them create custom front-ends so that it works seamlessly with the current banking system, people have apps on their computers, etc. etc.

Then once a critical mass of adoption as a payment system has been reached, they release the code to the public... and the code reviewers find that XRP is just as secure as Bitcoin.    At that point, does it matter?  I think not.   I think xrp would rapidly become the most valuable virtual currency simply because the payment system ecosystem would make it the most trust-free asset to have within that system.

It doesn't matter if Ripple is the system that makes this happen or some other system.  The important thing is (IMHO), is that PAYMENT SYSTEM adoption must come first and must be inclusive of existing legal tender, and that payment system adoption will lead to better widespread adoption of the virtual currency vs. doing it the way Bitcoin (backwards).  The thing is - all Bitcoiners think that every currency must come up the same way.   That is not the case.

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May 10, 2013, 08:42:07 PM
 #46

+2

I wish you guys would stop with the circle-jerk and help me understand how Bitcoin plans to become a mainstream currency.

Right now we are all sitting in a calm before the next wave of interest comes. The interest will come in the form of user friendly software that teams of developers around the world are losing countless sleep hours to create. They are trying to make easier ways for business's to accept BTC, safer ways to carry them/ be as accessible as fiat in pocket, as well as simplifying it for the mass market. As i type this million of dollars are being poured into the development of BTC in hopes to be the first in their specific niche. When the the software/hardware/consumer based products go live, that's when you will see rapid adoption. The next wave of interest will be bigger then the last, which was bigger then the last, and so on. The interest will continue to grow at exponential rates, that is unless some unforeseen flaw in BTC is discovered.
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May 10, 2013, 08:44:38 PM
 #47

Why don't you answer these fair questions? 
does it hurt too much to think about things like 'If their page gets down all the ripple system is dead. simple as that.' ?

and besides it does matter that it is closed source, since there is absolutely no proof of security if no-one can review it. that alone sets of the alarm bells over here (*scam* *scam*)

What page are you referring to?

It only matters that it's closed-source if they don't open the source to the public after it's out of Beta like they promised.

But, because you guys can't seem to get your brains off the little details (or even the big details) that are irrelevant to the big picture...

Imagine for a moment that Opencoin keeps their server software closed for YEARS.  That's right YEARS.   And during those years they manage to get all kinds of financial providers to use their system.  They help them create custom front-ends so that it works seamlessly with the current banking system, people have apps on their computers, etc. etc.

Then once a critical mass of adoption as a payment system has been reached, they release the code to the public... and the code reviewers find that XRP is just as secure as Bitcoin.    At that point, does it matter?  I think not.   I think xrp would rapidly become the most valuable virtual currency simply because the payment system ecosystem would make it the most trust-fee asset to have within that system.

It doesn't matter if Ripple is the system that makes this happen or some other system.  The important thing is (IMHO), is that PAYMENT SYSTEM adoption must come first and must be inclusive of existing legal tender, and that payment system adoption will lead to better widespread adoption of the virtual currency vs. doing it the way Bitcoin (backwards).  The thing is - all Bitcoiners think that every currency must come up the same way.   That is not the case.

issue is still ignored: 'If their page gets down all the ripple system is dead. simple as that.' .

therefore no trust, no one has the ability to improve, so no one will adopt.

(ps, you sound like a car-salesman)


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May 10, 2013, 08:47:43 PM
 #48

Ripple is a closed source scam startup. Anyone who buys into that crap needs their head checked out.

The distribution of the XRP is the main problem. There are no clear rules set, Opencoin Inc. has billions over billions
of them and chooses how to give them away. At least with bitcoin the rules are set in the software.

The first giveaways were receiving up to 50000 XRP, now you get a few thousand if you are lucky.
This is very bad imho and makes the XRP exchange rates artificial high. Why not give out more XRP
to keep that somewhat stable. This also causes other problems, for example people buy XRP now
at super inflated rates thinking it will be Bitcoin 2.0, what if Opencoin starts to give away a few billions
 on Facebook or so. XRP would probably drop pretty good in value and burn some people.

Also I don't like how it is advertised as open, while it is not (yes I know it is in beta blabla, bitcoin is too, so what, I can still look at the code)

Maybe the system should be reset with a fair XRP distribution system and the server opensource from the start, then I would like it :/

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May 10, 2013, 08:48:55 PM
 #49


issue is still ignored: 'If their page gets down all the ripple system is dead. simple as that.' .


How is asking you "What page are you referring to?" ignoring you?   I wish we could have a small IQ test before the system allowed people to respond to prevent this kind of idiocy.

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May 10, 2013, 08:49:36 PM
 #50


issue is still ignored: 'If their page gets down all the ripple system is dead. simple as that.' .


No. Why? Ripple ledger is distributed just like bitcoin blockchain, isn't it?


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LaggedOnUser
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May 10, 2013, 08:52:13 PM
 #51

Ripple is a closed source scam startup. Anyone who buys into that crap needs their head checked out.

The distribution of the XRP is the main problem. There are no clear rules set, Opencoin Inc. has billions over billions
of them and chooses how to give them away. At least with bitcoin the rules are set in the software.

The first giveaways were receiving up to 50000 XRP, now you get a few thousand if you are lucky.
This is very bad imho and makes the XRP exchange rates artificial high. Why not give out more XRP
to keep that somewhat stable. This also causes other problems, for example people buy XRP now
at super inflated rates thinking it will be Bitcoin 2.0, what if Opencoin starts to give away a few billions
 on Facebook or so. XRP would probably drop pretty good in value and burn some people.

Also I don't like how it is advertised as open, while it is not (yes I know it is in beta blabla, bitcoin is too, so what, I can still look at the code)

Maybe the system should be reset with a fair XRP distribution system and the server opensource from the start, then I would like it :/

XRP has a consensus model, not a proof-of-work mining model like Bitcoin that uses mining to distribute the coins.  It would be an interesting problem to somehow combine the two.  If a consensus model distributed coins to miners, that would seem to imply that only those who are part of the consensus would received the mined coins, which would also seem to not be fair.  As a future exercise, it might be interesting to create a coin that allows a consensus to build among any interested parties that still uses the virtue of distributing the coin through mining.
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May 10, 2013, 08:59:04 PM
 #52

XRP has a consensus model, not a proof-of-work mining model like Bitcoin that uses mining to distribute the coins.  It would be an interesting problem to somehow combine the two.

Qubic already combined both.
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May 10, 2013, 08:59:29 PM
 #53


Maybe the system should be reset with a fair XRP distribution system and the server opensource from the start, then I would like it :/


I don't understand why they don't distribute certain amount of xrp per day automatically to all existing accounts  equally. Sort of reverse demurrage. This would be fair imo.


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wingding
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May 10, 2013, 08:59:42 PM
 #54

Ripple is kind of a scam, because OpenCoin owns all the XRP - even if they give away 50% they will be incredible rich if Ripple achieve large-scale adaptation. Bitcoin has for all practical matter the same problem: A very small group owns a large part of the total supply. This is the property for a commodity, not a currency. It is a pity that the great technology behind Bitcoin and Ripple has not yet found its way into an application that is not some kind of a Ponzi scheme.

                                   
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bitaccumulation
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May 10, 2013, 09:00:57 PM
 #55

Ripple is a closed source scam startup. Anyone who buys into that crap needs their head checked out.

The distribution of the XRP is the main problem. There are no clear rules set, Opencoin Inc. has billions over billions
of them and chooses how to give them away. At least with bitcoin the rules are set in the software.

The first giveaways were receiving up to 50000 XRP, now you get a few thousand if you are lucky.
This is very bad imho and makes the XRP exchange rates artificial high. Why not give out more XRP
to keep that somewhat stable. This also causes other problems, for example people buy XRP now
at super inflated rates thinking it will be Bitcoin 2.0, what if Opencoin starts to give away a few billions
 on Facebook or so. XRP would probably drop pretty good in value and burn some people.

Also I don't like how it is advertised as open, while it is not (yes I know it is in beta blabla, bitcoin is too, so what, I can still look at the code)

Maybe the system should be reset with a fair XRP distribution system and the server opensource from the start, then I would like it :/




I understand that we are on a cryptocurrency subforum and so cryptocurrency is the main thing on people's brains, but is it really that hard for you folks to wrap your head around the fact that Ripple is a PAYMENT SYSTEM FIRST?

If it succeeds as a payment system then it its currency will take off and its founders will make a lot of money.   So what?

Its strength is that it that its a distributed payment processing system for existing currencies.  People that want to get into the money moving business can do so without investing millions of dollars in software development and overhead.   This is its strength - moving existing currencies through a distributed payment system that doesn't cost much to implement.

As to not using mining and distribution...

While the scheme of creating "virtual mining" to mimic the difficulty of real mining was not only useful but brilliant, it is not the only way to "skin this cat" as they say, and it really depends on what you want to accomplish.  In this case, as I've mentioned in my original post, they are using xrp as a sort of stock IPO (IMO).   If the payment system takes off, they and all the early people involved in the "IPO" will be rich.  If not, they won't.  

This is not a "currency" launch, it's a payment system launch that has a currency attached to it.  (maybe repeating myself will get this point through)  Getting people to adopt this payment system will involve lots of work that involves a lot more than programming.  

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May 10, 2013, 09:02:52 PM
 #56

Gtfo with ripple, its so stupid and then claiming it is superior while 80% IS FOR THE GODDAMN DEVS = THEM GETTING FREE MONEY = SCAM.

Nuff said.
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May 10, 2013, 09:09:19 PM
 #57


issue is still ignored: 'If their page gets down all the ripple system is dead. simple as that.' .

No. Why? Ripple ledger is distributed just like bitcoin blockchain, isn't it?
can it still be transfered?

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May 10, 2013, 09:12:27 PM
 #58

Gtfo with ripple, its so stupid and then claiming it is superior while 80% IS FOR THE GODDAMN DEVS = THEM GETTING FREE MONEY = SCAM.

Nuff said.

I love when muppets parrot the same thing they've seen in 20 other places, without giving any thought to what's been written in the thread they are responding to.

Cue parrot voice:  "Ripple is a scam for devs."  "Ripple is a scam for devs."  "Ripple is a scam for devs."

Go back to reading a LTC thread dumbass, we don't want you to step out of your comfort zone.

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May 10, 2013, 09:17:08 PM
 #59

...

With these insults u derail ur own thread.
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May 10, 2013, 09:19:38 PM
 #60

Ok, so if I want to do a payment or move some money - why should I use Ripple, when I already have Visa and PayPal, and perhaps also bitcoin?

                                   
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