Shibaji, I have to differ: this thread is very much needed as it exposes blatantly a huge flaw in debt-based systems, including Ripple.
Or Ripple system changes radically, or this is what we are going to get over and over as soon as Ripple opens to the "great public".
Just check this thread:
https://bitcointalk.org/index.php?topic=145896.0"Hero" members of these forums granting trust to each other, like there's no tomorrow. There is a too big incentive in creating money out of thin air, as bankers actually do.
As it is, Ripple is scammer paradise, and in some way "democratizes" the very characteristics of the financial system that Bitcoin was designed to address.
I am with you on that, and as I have said - point well taken (that someone may get scammed when dipping toe without full knowledge) - but, I absolutely do not agree that in this process newbies lose their worth. I have been a newbie not too long ago, and I know how hard it is to get a footing into btc world so late in the game - when you exchange 100's of usd into it - very different from when early adopters got btc for cents or few dollars.
Move this thread out of newbie subforum, and I will delete all my posts related to this, including the other thread I have created.
Also, I have no horse in your race, so I do not care if you/TF and whoever is against Ripple system understand how debt works or not, but my agenda is independent of any such things - do not make newbies scapegoat for your test - it is destructive to the community as a whole.
