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Author Topic: Why Ripple™ is against everything Bitcoin  (Read 43363 times)
cypherdoc
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May 20, 2013, 03:38:02 PM
 #661

From the Ripple FAQ:

Quote
When Ripple started there were 100 billion ripples in existence. This number is slowly decreasing because, as a security measure, each transaction destroys a tiny fraction of a ripple. Don’t worry — even with the whole world using Ripple, it will take thousands of years to destroy all the ripples. You can see the exact number of ripples at the Live Network Graph.

It's clear that cypherdoc doesn't have an open mind and is merely critically evaluating Ripple. He / she is deliberately campaigning against it.

you're an idiot.

i keep making hard factual critical arguments about the Ripple system and all you can do is come up with ad hominems.

there is a clear problem here that you should address.
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May 20, 2013, 03:39:26 PM
 #662

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.



Refreshingly honest.   Grin

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May 20, 2013, 03:40:22 PM
 #663

Larson can't have it both ways.  if he allows XRP's to eventually all be destroyed, the system will fail.  if he changes the rules and allows more XRP's to be printed then effectively he is no better than the Fed.
they are caught in a contradiction.

Not really as with a minut amount destroyed it'd take thousands of years to fail. for making pure profit they'd need to create no more, doing so would never create a greater market cap...so it'd be pointless.


however holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.



you're not understanding the contradiction.

VC firms look to make fast profits of 10x-100x.  THAT is their business model.

their investors demand that they get that return and the only way they can make that happen is to have XRP value go up quickly.
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May 20, 2013, 03:42:04 PM
 #664

there is a clear problem here that you should address.

I just did. And calling out misbehaviour isn't ad hominem.

ROI is not a verb, the term you're looking for is 'to break even'.
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May 20, 2013, 03:42:33 PM
 #665

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.



Interests you both share is profiting off of suckers willing to buy into broken system.

That's pretty scummy to say that you are glad that if open coin does well you do well. What if their business model is immoral? You still support it?

You were the same guy spouting litecoin is a scam yet not single entity controls litecoin. This was when litecoins were 6 cents.  Cheesy

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
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SamS
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May 20, 2013, 03:44:49 PM
 #666

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.



Interests you both share is profiting off of suckers willing to buy into broken system.

That's pretty scummy to say that you are glad that if open coin does well you do well. What if their business model is immoral? You still support it?

You were the same guy spouting litecoin is a scam yet not single entity controls litecoin. This was when litecoins were 6 cents.  Cheesy

Indeed, but now there is that wonderful quote to post regarding intentions.

Bitcoin: 16i8sQWjZo3QPhhSfWupJff5PtwTxxpRJJ
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SGExodus
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May 20, 2013, 03:46:46 PM
 #667

however holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Perhaps, but the same is true of Satoshi's stash of BTC. Besides, how do you know Satoshi isn't behind Ripple too?

The different is that Satoshi mined the coin like the rest after he publicly announced the project.    He didn't magically get more coins than others.  Well, not 100 billion more.

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May 20, 2013, 03:47:21 PM
 #668

there is a clear problem here that you should address.

I just did. And calling out misbehaviour isn't ad hominem.

clearly you missed the Bitcoin runup.  probably b/c you never understood the fundamentals behind Bitcoin.  this would explain why you can't seem to understand my arguments.

for anyone interested in mmeijeri's first post here on the forum, just look at this to understand why he is a Ripple Evangelist:

https://bitcointalk.org/index.php?topic=145506.msg1784651#msg1784651
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May 20, 2013, 03:48:17 PM
 #669

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.



Excuse me, but this is pure madness.

Right now XRP's are being traded at roughly 54 XRP per $1. That's crazy. I mean, 50K XRP where handed out to anybody asking, and many users bought forums accounts to obtain hundred of thousands of XRP's, if not millions.

Well, today the 50K XRP's given away to anybody who asked are worth roughly $1,000. Heck, just to try it out, yesterday I bought 10BTC of XRP myself, and that's more or less the quantity of XRP's I got for my REAL btc. That's crazy, pure speculative mania. This would mean that Opencoin has TODAY a potential gain of +$1B (yes, billion), when their software is still in Beta phase, and didn't prove ANYTHING. Of course they could never "cash out" that amount of XRP's at this stage, there's still no market for it. But still, you can see how insane is this.

I always said it from the very first moment: Ripple is a genius idea for their creators, is the ultimate get-rich-quick scheme (for them and only for them). But I foresee something in the future: as soon as they want to "cash out", they have such an insame amount of Ripples that they will crash the market with a super small dump. And, in fact, they are the ultimate manipulator in the XRP market: nobody will ever hold as many coins as they do. But they are also creating a monster: all those accumulating hundred of thousands/millions of XRP's will dump them and crash the market sooner or later...

I bet that we will see a steady increase in XRP's prices, there will be a bubble, and shortly after Ripple is finally out of Beta and open to the "grand public" there will be massive XRP dumps everywhere, and the last ones in will be left holding the bag.

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May 20, 2013, 03:50:30 PM
 #670

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.



what sorting out their very buggy platform? lol
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May 20, 2013, 03:51:33 PM
 #671

I find it really funny that someone registered on this forum will argue for a currency whose total amount in circulation is not even known.

My biggest concern with XRP is not even the "premining", but it's worse than Chinese government transparency, you have no data whatsoever about it, let alone provable data.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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May 20, 2013, 03:51:54 PM
 #672

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.



Excuse me, but this is pure madness.

Right now XRP's are being traded at roughly 54 XRP per $1. That's crazy. I mean, 50K XRP where handed out to anybody asking, and many users bought forums accounts to obtain hundred of thousands of XRP's, if not millions.

Well, today the 50K XRP's given away to anybody who asked are worth roughly $1,000. Heck, just to try it out, yesterday I bought 10BTC of XRP myself, and that's more or less the quantity of XRP's I got for my REAL btc. That's crazy, pure speculative mania. This would mean that Opencoin has TODAY a potential gain of +$1B (yes, billion), when their software is still in Beta phase, and didn't prove ANYTHING. Of course they could never "cash out" that amount of XRP's at this stage, there's still no market for it. But still, you can see how insane is this.

I always said it from the very first moment: Ripple is a genius idea for their creators, is the ultimate get-rich-quick scheme (for them and only for them). But I foresee something in the future: as soon as they want to "cash out", they have such an insame amount of Ripples that they will crash the market with a super small dump. And, in fact, they are the ultimate manipulator in the XRP market: nobody will ever hold as many coins as they do. But they are also creating a monster: all those accumulating hundred of thousands/millions of XRP's will dump them and crash the market sooner or later...

I bet that we will see a steady increase in XRP's prices, there will be a bubble, and shortly after Ripple is finally out of Beta and open to the "grand public" there will be massive XRP dumps everywhere, and the last ones in will be left holding the bag.

+1 over price, broken, closed source, centralized, premined.

███████████████████████████████████████

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        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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mmeijeri
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May 20, 2013, 03:53:14 PM
 #673

clearly you missed the Bitcoin runup.  probably b/c you never understood the fundamentals behind Bitcoin.  this would explain why you can't seem to understand my arguments.

I understand your arguments just fine thank you very much, it's just that they are without value. I'm pretty sure I understand Bitcoin a lot better than you do.

Quote
for anyone interested in mmeijeri's first post here on the forum, just look at this to understand why he is a Ripple Evangelist:

https://bitcointalk.org/index.php?topic=145506.msg1784651#msg1784651

Not actually my first post, but my first post outside the newbie forum. And for your information, I hold ~2 BTC right now. I've just given away 1 BTC to the EFF for their awesome decision to accept BTC and I'm waiting for a money transfer from my bank to reach Bitstamp so I can buy back another 1 BTC through Ripple. By contrast, I hold only ~1400 XRP.

Now that we're disclosing private finances, will you tell us how much BTC you hold and what your monthly mining income is? I suspect you won't.

ROI is not a verb, the term you're looking for is 'to break even'.
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May 20, 2013, 03:53:20 PM
 #674

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.


when their software is still in Beta phase, and didn't prove ANYTHING.


yes live and people are trading on a very buggy beta platform.....i'd be willing to put a small wager on a reset ledger in the coming weeks....that'll end in tears Smiley
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May 20, 2013, 03:53:37 PM
 #675

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.



Excuse me, but this is pure madness.

Right now XRP's are being traded at roughly 54 XRP per $1. That's crazy. I mean, 50K XRP where handed out to anybody asking, and many users bought forums accounts to obtain hundred of thousands of XRP's, if not millions.

Well, today the 50K XRP's given away to anybody who asked are worth roughly $1,000. Heck, just to try it out, yesterday I bought 10BTC of XRP myself, and that's more or less the quantity of XRP's I got for my REAL btc. That's crazy, pure speculative mania. This would mean that Opencoin has TODAY a potential gain of +$1B (yes, billion), when their software is still in Beta phase, and didn't prove ANYTHING. Of course they could never "cash out" that amount of XRP's at this stage, there's still no market for it. But still, you can see how insane is this.

I always said it from the very first moment: Ripple is a genius idea for their creators, is the ultimate get-rich-quick scheme (for them and only for them). But I foresee something in the future: as soon as they want to "cash out", they have such an insame amount of Ripples that they will crash the market with a super small dump. And, in fact, they are the ultimate manipulator in the XRP market: nobody will ever hold as many coins as they do. But they are also creating a monster: all those accumulating hundred of thousands/millions of XRP's will dump them and crash the market sooner or later...

I bet that we will see a steady increase in XRP's prices, there will be a bubble, and shortly after Ripple is finally out of Beta and open to the "grand public" there will be massive XRP dumps everywhere, and the last ones in will be left holding the bag.

+1 over price, broken, closed source, centralized, premined.

Got to agree here based on the facts on the ground thus far.

Bitcoin: 16i8sQWjZo3QPhhSfWupJff5PtwTxxpRJJ
Ripple:  rL7mRCDYBXsVSM2obdvEjwft5fPUmxv3ra
oakpacific
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May 20, 2013, 03:53:52 PM
 #676

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.



Excuse me, but this is pure madness.

Right now XRP's are being traded at roughly 54 XRP per $1. That's crazy. I mean, 50K XRP where handed out to anybody asking, and many users bought forums accounts to obtain hundred of thousands of XRP's, if not millions.

Well, today the 50K XRP's given away to anybody who asked are worth roughly $1,000. Heck, just to try it out, yesterday I bought 10BTC of XRP myself, and that's more or less the quantity of XRP's I got for my REAL btc. That's crazy, pure speculative mania. This would mean that Opencoin has TODAY a potential gain of +$1B (yes, billion), when their software is still in Beta phase, and didn't prove ANYTHING. Of course they could never "cash out" that amount of XRP's at this stage, there's still no market for it. But still, you can see how insane is this.

I always said it from the very first moment: Ripple is a genius idea for their creators, is the ultimate get-rich-quick scheme (for them and only for them). But I foresee something in the future: as soon as they want to "cash out", they have such an insame amount of Ripples that they will crash the market with a super small dump. And, in fact, they are the ultimate manipulator in the XRP market: nobody will ever hold as many coins as they do. But they are also creating a monster: all those accumulating hundred of thousands/millions of XRP's will dump them and crash the market sooner or later...

I bet that we will see a steady increase in XRP's prices, there will be a bubble, and shortly after Ripple is finally out of Beta and open to the "grand public" there will be massive XRP dumps everywhere, and the last ones in will be left holding the bag.

There is not even proof that it's not a bunch of Opencoin's shills pumping up the price, think about it, you don't know who get the XRPs, how is it distributed, and they made it clear they would not release data about it.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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May 20, 2013, 03:54:18 PM
 #677

I find it really funny that someone registered on this forum will argue for a currency whose total amount in circulation is not even known.

My biggest concern with XRP is not even the "premining", but it's worse than Chinese government transparency, you have no data whatsoever about it, let alone provable data.

I know yeah? Their FAQ just says "look at the graph.....see?" Lol  Cheesy

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
        ,p████████████████████N,       
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║██████       Ñ███████████`      ███████
███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
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           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
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     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
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May 20, 2013, 03:55:42 PM
 #678

clearly you missed the Bitcoin runup.  probably b/c you never understood the fundamentals behind Bitcoin.  this would explain why you can't seem to understand my arguments.

I understand your arguments just fine thank you very much, it's just that they are without value. I'm pretty sure I understand Bitcoin a lot better than you do.

Quote
for anyone interested in mmeijeri's first post here on the forum, just look at this to understand why he is a Ripple Evangelist:

https://bitcointalk.org/index.php?topic=145506.msg1784651#msg1784651

Not actually my first post, but my first post outside the newbie forum. And for your information, I hold ~2 BTC right now. I've just given away 1 BTC to the EFF for their awesome decision to accept BTC and I'm waiting for a money transfer from my bank to reach Bitstamp so I can buy back another 1 BTC through Ripple. By contrast, I hold only ~1400 XRP.

Now that we're disclosing private finances, will you tell us how much BTC you hold and what your monthly mining income is? I suspect you won't.

wow, i'm so impressed you took the great and convincing responsibility to reveal you had 2 BTC.  my you are so transparent.

such childish arguments that any reasonable person wouldn't respond to.
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May 20, 2013, 03:56:54 PM
 #679

for anyone interested in mmeijeri's first post here on the forum, just look at this to understand why he is a Ripple Evangelist:

I'll tell you why I'm in favour of Ripple the payment system: it is what will allow BTC to survive even in the face of draconian government repression. I've consistently argued that. I have no strong feelings about XRP the currency either way, but I do think competition is good. And that works both ways, I would welcome a Ripple-like distributed exchange based on BTC rather than XRP.

ROI is not a verb, the term you're looking for is 'to break even'.
nelisky
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May 20, 2013, 03:57:49 PM
 #680

holding however billion they are holding onto as a company or private individuals should be a big concern to anyone wishing to adopt.

Just the opposite. I'm glad OpenCoin is holding a bunch of XRP, because if they do well then I'll do well (I own XRP as well). This aligns their interests with mine.



Excuse me, but this is pure madness.

Right now XRP's are being traded at roughly 54 XRP per $1. That's crazy. I mean, 50K XRP where handed out to anybody asking, and many users bought forums accounts to obtain hundred of thousands of XRP's, if not millions.

Well, today the 50K XRP's given away to anybody who asked are worth roughly $1,000. Heck, just to try it out, yesterday I bought 10BTC of XRP myself, and that's more or less the quantity of XRP's I got for my REAL btc. That's crazy, pure speculative mania. This would mean that Opencoin has TODAY a potential gain of +$1B (yes, billion), when their software is still in Beta phase, and didn't prove ANYTHING. Of course they could never "cash out" that amount of XRP's at this stage, there's still no market for it. But still, you can see how insane is this.

I always said it from the very first moment: Ripple is a genius idea for their creators, is the ultimate get-rich-quick scheme (for them and only for them). But I foresee something in the future: as soon as they want to "cash out", they have such an insame amount of Ripples that they will crash the market with a super small dump. And, in fact, they are the ultimate manipulator in the XRP market: nobody will ever hold as many coins as they do. But they are also creating a monster: all those accumulating hundred of thousands/millions of XRP's will dump them and crash the market sooner or later...

I bet that we will see a steady increase in XRP's prices, there will be a bubble, and shortly after Ripple is finally out of Beta and open to the "grand public" there will be massive XRP dumps everywhere, and the last ones in will be left holding the bag.

So what would happen to price if OpenCoin decided to dump a mere million? It seems to me looking at going price without looking at volume and depth is just another way to run a smear campaign.
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