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Author Topic: Why Ripple is Superior to Bitcoin...  (Read 5373 times)
bitaccumulation
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May 10, 2013, 10:47:14 PM
 #81

Sure.  How much do you have and what do want for it?

50,000 XRP on hand ..since it's a revolutionary system and clearly superior to Bitcoin, I'd be willing part with it for a mere BTC500. Should be a steal once XRP takes off.

Naturally I'm willing to negotiate.

I'll give you BTC4 for the 50,000 XRP.

I curse you. You are destroying the market Smiley
 

You clearly don't understand that those XRP can be converted into BTC or USD in about 3 minutes in Ripple.

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May 10, 2013, 10:52:40 PM
 #82

Sure.  How much do you have and what do want for it?

50,000 XRP on hand ..since it's a revolutionary system and clearly superior to Bitcoin, I'd be willing part with it for a mere BTC500. Should be a steal once XRP takes off.

Naturally I'm willing to negotiate.

I'll give you BTC4 for the 50,000 XRP.

I curse you. You are destroying the market Smiley
 

You clearly don't understand that those XRP can be converted into BTC or USD in about 3 minutes in Ripple.

Take it easy bro. I understand conversion part. Do you understand humor? Why did you offer 4 of your precious BTC for 50,000 crappy XRP if a guy can give them away for free? Smiley


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May 10, 2013, 10:54:32 PM
 #83

I think the hardest part for people when they approach Ripple, is that they are approaching it like a currency start-up (like Bitcoin).   A new Bitcoin-like currency could be released open-source and no specific amount of users would be required to have it be used as a currency (in fact this happens every day on this sub-forum).   However, when you are looking at something as a payment system that includes all currencies then adoption of the payment system is a priority and a requirement for it to be a success.   And until that happens the currency inside that system is essentially worthless (it's only worth right now is speculative and for transaction fees for the small number of Beta testers).

The successful approach to each of these two scenarios is not the same.
that is probably because it has been presented as a currency start-up.

I've been doing some reading up and to me it seems like a payment-system (a la paypall) with some internal currency attached to it, which, compared to current banks/payment-methods,  serves no one except the creators.

But anyway, I think there is a much larger problem: in Europe there already are payment systems that are fast, free and secure. However, it turns out to be very difficult to get one system going throughout Europe: every country has their own system (supported by banks that operate in that country). This is simply because it benefits the nations economy; if other countries accept the German system, then German webshops would benefit from that. So.. Spain/Italy have recently launched their own system (mybank). A few years ago IDEAL and Giropay (dutch / german) started to operate for EU, but other countries (banks) simply refused to accept it. It is too political.

So.... even if it works technically, politically it will fail.
Ripple will be born cripple (at least in Europe).
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May 10, 2013, 11:00:32 PM
 #84

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.

Well of course you have to already have Bitcoin to be able to pay with Bitcoin.  Just like you need to already have XRP to be able to pay with Ripple.

Maybe AFTER you set everything up, XRP is a little more transparent to the user, but setting it up is hardly any less complicated than buying some bitcoin.

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May 10, 2013, 11:01:25 PM
 #85

So how does it work? If I want to transfer 1 BTC to my friend John Doe - do I need to buy some XRP or pay a fee of the transaction?

One bad thing about ripple is that you need at least a PhD degree to understand how it works. I have one, and I had a hard time figuring this out.

Shortly speaking, if you want to send 1 BTC to your friend, you open your btc client, press "send" button, type your friend's bitcoin address, 3 confirmations, done. Ripple comes into play if you have 1 BTC, and your friend wants Brazilian reals from you.

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May 10, 2013, 11:07:55 PM
 #86



How many XRP do you need to get to the next level?   Smiley

Smiley

Quote
Seriously, I was hoping for a retort to my post asking why people would give up free airline tickets and 1% cash back from debit cards. Cards they already have in their wallets.

No retort.  I imagine these things would end up in Ripple too.  Either directly through the card companies or through 3rd parties.   You'd get your airline points or credit card points or whatever (which are essentially another currency), and these could be paid by the company directly into your Ripple account which you could then trade for BTC or do whatever you wanted with them.  I could pay for my pizza in airline points. Smiley  Seriously.  The merchant would get US dollars (if that's what they sold pizza in) and I could pay with my AA frequent flyer miles.  Can your bank do that?

FF miles would be worth how much. Not $1 each for sure. Would there be a market for trading FF miles. I don't think any airline wants people to dump the miles for cheap. What if a few people bought cheap and had a lifetime of free miles when they normally would have paid 10x more for those flights in USD. See the problems here already?

There is way too much programing and networking and logistics between the companys involved. These players already have sweet deals with each other so why let a new player in the game. It just don't make no sense.

I think the issue of fairness is a huge deal breaker for most people as well. I doubt I would ever buy a ripple because of the distribution system alone. Bitcoin was not 100% fair but I think its a close as we will get and like some one on here just said its the money people have invested in bitcoin mining and the security that it provides that give it staying power.

The demand for ripple may come to a trickle...
bitaccumulation
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May 10, 2013, 11:09:30 PM
 #87

So how does it work? If I want to transfer 1 BTC to my friend John Doe - do I need to buy some XRP or pay a fee of the transaction?

Well if you had a BTC account and they did too, you would just send it the normal way.  That's safe and doesn't involve any trusted intermediaries.

Right now there are only a few ways to get into Ripple (gateways).  Bitstamp is one.

So if you wanted to transfer 1 BTC to your friend John Doe who doesn't want to figure out how to get a Bitcoin address...  you could set him up a Ripple account.   You would send some BTC to your Bitstamp account and then withdraw it into Ripple.   Now you can use those BTC for all kinds of transactions.  You could exchange them for XRP, LTC, there is even a guy who issues silver dimes.  And of course you could send 1 BTC to your friend John Doe.  Because there are so few gateways the only downside is that your friend would need to open an account in Bitstamp in order to redeem the Bitcoin in Ripple for a real Bitcoin.   Of course he could use that Bitcoin in Ripple to get some XRP or exchange it for USD or EUR, etc.  

Because there are so few exchanges, this seems like a hassle, and it is for a transaction like this.  This is why I keep saying that in a payment system startup like this, the important things are users and those users will be brought on by existing financial services primarily (in my opinion).   In order to realize the full power of the system a certain critical mass of users and gateways will be necessary.

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May 10, 2013, 11:10:31 PM
 #88

Sure.  How much do you have and what do want for it?

50,000 XRP on hand ..since it's a revolutionary system and clearly superior to Bitcoin, I'd be willing part with it for a mere BTC500. Should be a steal once XRP takes off.

Naturally I'm willing to negotiate.

I'll give you BTC4 for the 50,000 XRP.

I curse you. You are destroying the market Smiley
 

You clearly don't understand that those XRP can be converted into BTC or USD in about 3 minutes in Ripple.

Take it easy bro. I understand conversion part. Do you understand humor? Why did you offer 4 of your precious BTC for 50,000 crappy XRP if a guy can give them away for free? Smiley



My bad.  It's been a tough crowd.  Shocked

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May 10, 2013, 11:16:07 PM
 #89

Ripple will slow down to a trickle
Soon it will meet the man with the sickle
I call foul like a doubble-dribble
Swiming in the wake of bitcoin like a cripple

I feel bad for the kids who think will tripple
Sucking on the free money tit like a nipple

 Grin

Call me the Forum Freestyler
bitaccumulation
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May 10, 2013, 11:17:29 PM
 #90



How many XRP do you need to get to the next level?   Smiley

Smiley

Quote
Seriously, I was hoping for a retort to my post asking why people would give up free airline tickets and 1% cash back from debit cards. Cards they already have in their wallets.

No retort.  I imagine these things would end up in Ripple too.  Either directly through the card companies or through 3rd parties.   You'd get your airline points or credit card points or whatever (which are essentially another currency), and these could be paid by the company directly into your Ripple account which you could then trade for BTC or do whatever you wanted with them.  I could pay for my pizza in airline points. Smiley  Seriously.  The merchant would get US dollars (if that's what they sold pizza in) and I could pay with my AA frequent flyer miles.  Can your bank do that?

FF miles would be worth how much. Not $1 each for sure. Would there be a market for trading FF miles. I don't think any airline wants people to dump the miles for cheap. What if a few people bought cheap and had a lifetime of free miles when they normally would have paid 10x more for those flights in USD. See the problems here already?

There is way too much programing and networking and logistics between the companys involved. These players already have sweet deals with each other so why let a new player in the game. It just don't make no sense.

I think the issue of fairness is a huge deal breaker for most people as well. I doubt I would ever buy a ripple because of the distribution system alone. Bitcoin was not 100% fair but I think its a close as we will get and like some one on here just said its the money people have invested in bitcoin mining and the security that it provides that give it staying power.

The demand for ripple may come to a trickle...


There would be a market for FF miles.  There most likely will be whether airlines participate or not.  If there is a market in FF miles and I have them, then Ripple will find the best path for me to pay someone in the currency they would like to accept (I can accept or decline to take that path).

As to the programming, I'm pretty sure it's simply a matter of interfacing with Ripple using the API, although that certainly isn't my expertise, so I don't want to say I know for sure how difficult it would be.

I think the "fairness" thing has to do with people thinking there is only one way for a currency to be distributed and the fallacy that "mining" somehow made that fair.   In both cases the original programmers got a big chunk of the original coins.  

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May 10, 2013, 11:23:44 PM
 #91

If their page gets down all the ripple system is dead. simple as that. Also since its limited to 100 billions, the number of accounts is limited too because they need a "reserve", and it will not get mass adoption.
And nobody knows if they can make another ton of 100 billion xrps if they want since its closed-source...

Not one of you has addressed how Bitcoin is going to become a payment system.   Ripple DOES address this FIRST.  xrp will only take off in value once the payment system takes off.

You CAN'T USE BITCOIN until you exchange your regular money to get it.  Why would someone do that to buy a pizza?

Answer this question and let me know how Bitcoin plans on addressing these problems.

Ripple on the other hand DOES address these issues.  

If Bitcoin has something that will address these issues in the near future, I'd be happy to reverse my opinion.  I don't see any answers other than people don't like that Ripple is closed source, they don't like that a company pre-mined 100,000,000,000 of that system's currency, or that they are worried their might not be enough currency to create an account for everyone in the world.  

Are you guys for real?

I'm all about solutions.  Tell me how Bitcoin fixes (or plans to fix) the issues I illustrated in my OP.



Wondering how many ripples OP received in return for this promotion. Wink
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May 10, 2013, 11:26:12 PM
 #92

I thought OP raised some good points.

Replace Ripple with USD and Opencoin with FED.

For me Ripple is a step back to Bankocraty, we'll see the progress ONLY when the sources become public. That's what my 1st reply was about.

+1

This. Ripple may be a brilliant business idea inspired on Bitcoin. But is nowhere as ambitious and truly revolutionary as Bitcoin is.

Bitcoin is really about freedom, Ripple is just a payment system.

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May 10, 2013, 11:27:54 PM
 #93



Open-source, closed-source.  Who cares? 
Uh... Everybody.  It's one of the key advantages.
Sorry for not addressing your post but this is 100% a dealbreaker.  The only reason ppl are using ripple now is to make a quick buck.
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May 10, 2013, 11:31:12 PM
 #94



Open-source, closed-source.  Who cares? 
Uh... Everybody.  It's one of the key advantages.
Sorry for not addressing your post but this is 100% a dealbreaker.  The only reason ppl are using ripple now is to make a quick buck.

Have you read the entire thread, or did you just find something you didn't like and decided to jump on it?

This has been addressed at least 4 times in this thread.

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May 10, 2013, 11:44:20 PM
 #95

There is no way Ripple is better than Bitcoin, I doubt if it will even make a ripple in the crypto-coin market.


While you are all focused on crypto-coins, a distributed payment system that can include all crypto-currencies will become king.   It may not be Ripple, but as of now, Ripple has the best shot in my opinion.


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May 11, 2013, 12:02:04 AM
 #96

There is no way Ripple is better than Bitcoin, I doubt if it will even make a ripple in the crypto-coin market.


While you are all focused on crypto-coins, a payment system a distributed payment system that can include all crypto-currencies will become king.   It may not be Ripple, but as of now, Ripple has the best shot in my opinion.


You make valid points, but I think you have a hard time arguing with people because your thread title is provocative and incorrect.

Ripple is older than bitcoin, but it was not in focus until now. What changed? Bitcoins came to the world. Bitcoin technology gave ripple developers some ideas. Combination of both technologies lead to progress.

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May 11, 2013, 12:07:32 AM
 #97

There is no way Ripple is better than Bitcoin, I doubt if it will even make a ripple in the crypto-coin market.


While you are all focused on crypto-coins, a distributed payment system that can include all crypto-currencies will become king.   It may not be Ripple, but as of now, Ripple has the best shot in my opinion.



You don't seem to understand that debt equals to slavery. Sometimes it might be a necessary evil. But a system based on credit is rotten at its core.

Bitcoin helps to solve one problem. Ripple, is a problem.

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May 11, 2013, 12:12:05 AM
 #98

There is no way Ripple is better than Bitcoin, I doubt if it will even make a ripple in the crypto-coin market.
You make valid points, but I think you have a hard time arguing with people because your thread title is provocative and incorrect.

Ripple is older than bitcoin, but it was not in focus until now. What changed? Bitcoins came to the world. Bitcoin technology gave ripple developers some ideas. Combination of both technologies lead to progress.

The subject line was more for attention than anything else.   And I love Bitcoin, I've been following since early 2011.   But when I look at all these ALT currencies, I see people trying to solve problems that only concern hard-core users (like should we create a coin that works on older mining equipment), rather than thinking about the long term and what would enable more widespread use.   If Bitcoin is going to be used as an underground currency and a store of value with a built in vault, then fine, it already does that - no improvement necessary.   But the next step in the crypto-currency saga involves distributed payment systems that can be inclusive of current currency.   Ripple is the only candidate I see fitting that bill.

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May 11, 2013, 12:18:47 AM
 #99

You don't seem to understand that debt equals to slavery. Sometimes it might be a necessary evil. But a system based on credit is rotten at its core.

Bitcoin helps to solve one problem. Ripple, is a problem.

I understand debt just as well as anyone else.  I don't have any.

Bitcoin solves problems of trust, that's for sure, but it won't ever replace or get rid of existing debt based legal tender, if for no other reason than governments collect taxes with legal tender, so you'll have to have some whether you want to or not. You also must accept legal tender in the US for all debts public and private - you can't demand payment in Bitcoin.  This is how they screwed people with gold contracts in the US.  

So, knowing all that, as I'm sure you do, I'm not sure what you're getting at.   Ripple doesn't add anything that doesn't already exist.   What's the difference if you look at your USD balance at your bank website or in the Ripple interface?

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May 11, 2013, 12:25:05 AM
 #100

You don't seem to understand that debt equals to slavery. Sometimes it might be a necessary evil. But a system based on credit is rotten at its core.

Bitcoin helps to solve one problem. Ripple, is a problem.

I understand debt just as well as anyone else.  I don't have any.

Bitcoin solves problems of trust, that's for sure, but it won't ever replace or get rid of existing debt based legal tender, if for no other reason than governments collect taxes with legal tender, so you'll have to have some whether you want to or not. You also must accept legal tender in the US for all debts public and private - you can't demand payment in Bitcoin.  This is how they screwed people with gold contracts in the US.  

So, knowing all that, as I'm sure you do, I'm not sure what you're getting at.   Ripple doesn't add anything that doesn't already exist.   What's the difference if you look at your USD balance at your bank website or in the Ripple interface?


Fundamentally no difference - that's the point. Ripple is simply another scamming layer on an deeply rotten system.

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