"Stop deceiving Bitcoiners.
I take umbrage to this - there's no deception going on. This is one reason I deleted your thread. There's no place for personal attacks in my moderated discussion.
In the Ripple system, Bitcoins can only be held as IOUs, they are subject to counterparty risk.
Yep, and this has been explained numerous times. Another reason why I deleted your post from my thread. There is no place for repeating the same things over and over again like TradeFortress, without engaging in any real discourse.
Only Ripples are devoid from counterparty risk, while they also are needed to maintain an account balance and conduct transactions (fee).
This is all true.
If the Ripple system becomes the main way to interact with Bitcoin, the market will inevitably begin valuing Ripples higher, as they share all the advantages of Bitcoin with none of the disadvantages. Bitcoin usage would shrink, since it has no purpose really.
I wouldn't be so sure. In theory, if all the stars line up and all the vendors get on board with Ripple instead of Bitcoin, and there are no gateway defaults, and the government doesn't come cracking down on gateways, etc... then maybe in some distant future Ripple could be a competitor to Bitcoin.
Does this mean that Ripple will "kill" Bitcoin? I hardly think so. Did Apple "kill" Microsoft? Did the Euro "kill" the dollar? Ripple uses a different model of achieving consensus than Bitcoin. I'm sure that the market will value Bitcoin and Ripple appropriately.
But lets pretend for a moment that Ripple is so amazing that it renders Bitcoin totally obsolete (far fetched, but not impossible). Why should we feel bad about this? Clearly it deserves to "win" since it offers superior functionality. Everyone benefits from this scenario.
Ripple is more of a parasite that feeds off Bitcoin until it can stand on its own.
And this is another reason why I deleted the thread, baseless accusations.
After Bitcoin fell 80% from $266 to $50 and MtGox was under DDoS, there were many cries in the forum for "decentralized exchanges" and getting rid of the "too big to fail exchange" MtGox. Ripple solves these problems and more, and now you're saying Ripple is a parasite? Far from being a parasite, Ripple will enhance the value of Bitcoin.
Ripple even enhances the value of what I consider to be the worthless alt-coins like Litecoin and what not.
You have said it yourself in the past. Within Ripple, XRP is superior to BTC.
Yeah, I did say that.
OpenCoin is trying to apply a spin of coexisting to bootstrap themselves
Another reason why I moderated your post. Another personal attack.
their business model is to hold XRP (30% is what they promise) until they appreciate in value. Ripples are not meant as mere tokens, but in the same way as Bitcoin a scarce asset, only without proof of work and its disadvantages.
This is all true.
Stop the intellectual dishonesty and say it like it is. XRP is a direct competitor to BTC.
And again a reason why I moderated your post. Yet another personal attack. And a baseless accusation, that XRP is a direct competitor.
Even if it is a competitor, shouldn't people be free to choose the currency they want? By your logic, all alt-coins are competitors and they are "intellectually dishonest" and they are a "parasite on Bitcoin." Do you really believe that? Ripple doesn't take part of Bitcoin's piece of the pie,
it makes the pie bigger.
Now I certainly don't mind all of your personal attacks here. Children will be children, after all. But this is where it belongs - and not in my moderated thread which I am managing to keep high in signal and low in noise.
