Why Ripple™ is against everything Bitcoin

[cypherdoc]

From the Ripple FAQ:

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.

[SamS]

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.  

[cypherdoc]

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.

[mmeijeri]

there is a clear problem here that you should address.

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

[smoothie]

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.  

[SamS]

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.  

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

[SGExodus]

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.

[cypherdoc]

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

[Rampion]

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.

[kelsey]

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

[oakpacific]

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.

[smoothie]

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.

[mmeijeri]

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.

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.

[kelsey]

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

[SamS]

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.

[oakpacific]

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.

[smoothie]

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  

[cypherdoc]

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.

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.

[mmeijeri]

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.

[nelisky]

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.