I am investigating "ripple"

[btc237ftw]

What do you think about it? Good/Bad for Bitcoin?

[usscfounder]

very bad. not open source. not decentralized. governemnt can shut it down anytime it wants to.

[btc237ftw]

I meant - is it good or bad FOR btc(?) The owner said it will compliment Bitcoin and from what I see, it really should do that (as long as ripple survives as you pointed out) - the question I'm asking is - did I miss something? can it hurt Bitcoin somehow?

[morphers]

I think it completely defeats the purpose of crypto

[Mike Christ]

Ripple is nothing like Bitcoin.  It's similar, but completely different.

Honestly, the only relation Ripple has to Bitcoin, is that it can work with it, but Ripple is moreso designed for fiat, as it is debt-based to begin with.

[btc237ftw]

Honestly, the only relation Ripple has to Bitcoin, is that it can work with it, but Ripple is moreso designed for fiat, as it is debt-based to begin with.

yea, it is like a debt-community cycle, or closed cycle I should say for trading. Therefore it can benefit all trading meassures, and since it allows Bitcoin to be added, it can help it as it grows. At least, that's how it should be in theory and at least at the begining. The questions I have in my mind are - is this true for the long term and also am I missing something about a potential hurt even in the short term. I did not research Ripple yet, I just started so I decided to ask the community for wisdom.

So far, Mike seems to know what he is talking about

[Mike Christ]

Honestly, the only relation Ripple has to Bitcoin, is that it can work with it, but Ripple is moreso designed for fiat, as it is debt-based to begin with.

yea, it is like a debt-community cycle, or closed cycle I should say for trading. Therefore it can benefit all trading meassures, and since it allows Bitcoin to be added, it can help it as it grows. At least, that's how it should be in theory and at least at the begining. The questions I have in my mind are - is this true for the long term and also am I missing something about a potential hurt even in the short term. I did not research Ripple yet, I just started so I decided to ask the community for wisdom.

So far, Mike seems to know what he is talking about

I personally have yet to see Ripple being used as much as Bitcoin for any purpose, other than people trying to get XRP to open up accounts.  Right now it's still in beta, but it's having a rocky start.  I'm rather biased, so I'll let you have a look at two opposing websites:

The Official Ripple Website

"Exposing the Ripple Scam"

[btc237ftw]

Thanks Mike!

This article "http://ripplescam.org/" is really strong... makes me want to invesitgate this matter farther, as Google Ventures are envolved with it,
http://www.coindesk.com/google-ventures-invests-in-bitcoin-competitor-opencoin/
http://www.coindesk.com/10-things-you-need-to-know-about-ripple/

[Dasneko]

Id say Ripple poses no threat to Bitcoin as a whole. People have found their answer to whatever problem they had with normal currency in Bitcoin and they are unlikely to let go of it in favor of ripple.