Why Ripple™ is against everything Bitcoin

[mmeijeri]

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.

Just as I predicted: you have only empty arguments and you aren't willing to disclose your own financial interest. Very telling.

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[cypherdoc]

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.

i'm pretty sure you don't understand Bitcoin OR Ripple any better than i do.

[Sukrim]

There's an open source client out there, the Ripple ledger works quite similar to the Bitcoin one and I'm willing to take (escrowed) bets that XRP will NOT be inflated until they go OpenSource.

[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.

There is not even proof that it's 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.

This is indeed a good point.

How do we know they did not create a ton of newbie accounts and send XRPs to themselves?

[mmeijeri]

i'm pretty sure you don't understand Bitcoin OR Ripple any better than i do.

Unless you have a strong background in both mathematics and computer science I doubt that very strongly. And if you do, it certainly doesn't show.

[cypherdoc]

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.

Just as I predicted: you have only empty arguments and you aren't willing to disclose your own financial interest. Very telling.

your argument is that i'm supposed to lay out my entire financial history and holdings just so that you will take my arguments seriously?

come on.

[smoothie]

i'm pretty sure you don't understand Bitcoin OR Ripple any better than i do.

Unless you have a strong background in both mathematics and computer science I doubt that very strongly. And if you do, it certainly doesn't show.

Bitcoin involves economics and business sense when talking about ripple as well.

Stop using tunnel vision man lol

[mmeijeri]

your argument is that i'm supposed to lay out my entire financial history and holdings just so that you will take my arguments seriously?

I did take your argument seriously, and responded to it. You claimed destruction of XRP would be a major problem, and I simply had to point you to the FAQ that says that the amounts are so miniscule they would last for thousands of years.

You've cast aspersions on my motives, but I have shown that I actually have a bigger financial stake in Bitcoin than in Ripple. You on the other hand refuse to disclose your stake. I have no great stake either way, but a bigger one in Bitcoin than in Ripple. I can simply judge the two systems on their merits and I see them as hugely synergetic. In particular, I believe Bitcoin may well be screwed without Ripple or something very much like it. Such an alternative could clearly also be based on Bitcoin, and as I said, I'd welcome that.

[cypherdoc]

i'm pretty sure you don't understand Bitcoin OR Ripple any better than i do.

Unless you have a strong background in both mathematics and computer science I doubt that very strongly. And if you do, it certainly doesn't show.

its hard to argue with someone who doesn't understand what they don't understand.

mmeijeri lays bare the argument i've made for so long.  he thinks the only one's who can understand Bitcoin are those with math or computers science degrees.  the fallacy behind this argument has been laid to rest long ago.

it takes a broad understanding of a variety of disciplines to get your head around Bitcoin; math, cryptography, economics, money, game theory.

[smoothie]

your argument is that i'm supposed to lay out my entire financial history and holdings just so that you will take my arguments seriously?

I did take your argument seriously, and responded to it. You claimed destruction of XRP would be a major problem, and I simply had to point you to the FAQ that says that the amounts are so miniscule they would last for thousands of years.

You've cast aspersions on my motives, but I have shown that I actually have a bigger financial stake in Bitcoin than in Ripple. You on the other hand refuse to disclose your stake. I have no great stake either way, but a bigger one in Bitcoin than in Ripple. I can simply judge the two systems on their merits and I see them as hugely synergetic. In particular, I believe Bitcoin may well be screwed without Ripple or something very much like it. Such an alternative could clearly also be based on Bitcoin, and as I said, I'd welcome that.

A FAQ doesn't prove anything. Wow ripple fans are grasping at straws now. "Look the FAQ says it so it must be true."

Lol

[QuestionAuthority]

Ripple = PointCast Network, here today gone tomorrow.

PointCast was the first company to successfully use push technologies on the Internet. In 1999 EntryPoint acquired PointCast, and in late 2000 EntryPoint merged with Internet Financial Network Inc. to form InfoGate.

[mmeijeri]

it takes a broad understanding of a variety of disciplines to get your head around Bitcoin; math, cryptography, economics, money, game theory.

And I know a thing or two about all of these. And for your information: all of these either have a strong mathematical component or are a branch of mathematics.

[mmeijeri]

its hard to argue with someone who doesn't understand what they don't understand.

Tell me about it. How about you start presenting some actual arguments then?

[cypherdoc]

its hard to argue with someone who doesn't understand what they don't understand.

Tell me about it. How about you start presenting some actual arguments then?

its also hard to argue with someone who doesn't listen.

[mmeijeri]

Let's hear those arguments!

[smoothie]

it takes a broad understanding of a variety of disciplines to get your head around Bitcoin; math, cryptography, economics, money, game theory.

And I know a thing or two about all of these. And for your information: all of these either have a strong mathematical component or are a branch of mathematics.

So back on topic lol. Stop measuring ur dick in terms of math and computer science.

On topic: your claims about XRP destruction can not be proven 100% without the original source code for what is being used for ripple.

[hashman]

Like everything else decentralized, you only need one person to 'interface' with existing banking, somewhere on the network.  Everything else is convenience.

And by the way, if any of you need to interact with the legacy banking system, hit me up a message and we'll try to work something out if you've got credit to me.

Sure, we need something like 10 million cash USD liquidity daily please.  I'll go ahead and email you where to send the next batch every half second or so.  Thanks

Can do -- rM1oqKtfh1zgjdAgbFmaRm3btfGBX25xVo if you can make a 10M$ payment to that that would be fantastic.  Send me a message if you would like to actually do this, I'll talk to some people we'll see what we can do[but like I said -- convenience is the key -- it probably isn't useful to have to have a bottleneck of what I can smuggle to your location but, you know for that kind of coin I could probably get a heliocopter involved/etc].

lol, well thanks ..   I guess my point is that one person with a bank account interface is not enough to provide cash liquidity for a large exchange market.  If you do have the ability to move that kind of money in and out every day, through lots of wires presumably (leave Ben to his chopper), then you should be considering opening an exchange.  I would help only as a small investor though, sorry  

[nelisky]

it takes a broad understanding of a variety of disciplines to get your head around Bitcoin; math, cryptography, economics, money, game theory.

And I know a thing or two about all of these. And for your information: all of these either have a strong mathematical component or are a branch of mathematics.

So back on topic lol. Stop measuring ur dick in terms of math and computer science.

On topic: your claims about XRP destruction can not be proven 100% without the original source code for what is being used for ripple.

Have you requested access to the source?

[cypherdoc]

Let's hear those arguments!

arguing with you is like arguing with a wall.

[mmeijeri]

Time and time again, you refuse to come up with actual rational arguments. You can call me a wall as often as you like, but the fact remains that you're not presenting factual arguments. You are arguing against Ripple, the onus is on you to come up with arguments to back up your assertions. That is something you can do unilaterally, so don't blame me if you can't or won't.