The True Explanation of Ripple for Bitcoiners

[discobean]

My biggest worry is that its not open source, and they just lie saying it is.  Just blatant lies.

I can understand they do this not because of bugs, beta, etc, but because they want marketshare, and once they have it, it might be released as open source.

Fact is they don't care about open source, its just all excuses to get marketshare, and be noticed by a bank or investors.  And its working.

As for the Mt.Gox comment about everybody wanting a distributed exchange, yes, people want an open source distributed exchange, not a closed source one owned by one company.

[runam0k]

It's quite simple, really.  Bitcoin does not need Ripple, Ripple does not need Bitcoin.

Now let's move this (and the other Ripple threads) to a different sub-forum.

[phelix]

[...]
Ripple reminds me of Google wave.  It was neat, it had lots of potential, it was geeky, the few people who got it were really excited, and it ended up being totally worthless.

XRP's market cap is currently 1.875.000.000USD - more than 37% higher than BTC

Why is this not in alt-coins forum?

The reason behind this, is that this is Bitcointalk.org

Guess who said that and in what context.

[oakpacific]

[...]
Ripple reminds me of Google wave.  It was neat, it had lots of potential, it was geeky, the few people who got it were really excited, and it ended up being totally worthless.

XRP's market cap is currently 1.875.000.000USD - more than 37% higher than BTC

And I still see nearly nothing real being bought with it(I checked nearly all Ripple forums before I say that), does that mean it's the greatest scam ever?

[Rampion]

Frozenlock: you got a point there

I guess that I'm oscillating between two approaches:

A) Ripple is the reproduction of a flawed, debt based system, willing to parasitize Bitcoin to ultimately compete with it through a pre-mined crypto controlled by a handful of individuals

B) Ripple is really everything stated in a),  but their crypto has no real potential to compete with Bitcoin

I have to also admit that this heavy promotion among bitcoiners kinda irritates me.  I'm testing Ripple intensively, and as you all know you do not hold BTC in Ripple, you hold BTC IOUs. This kinda defeat the whole purpose of using BTC's. What would Satoshi think about people trading BTC IOUs? Heck, you can also create more BTC IOUs inside Ripple than the total amount of Real BTC existing.

[🏰 TradeFortress 🏰]

I'll just quote yourself:

These OpenCoin guys are geniuses. They create a system that reproduces the old banking system in a distributed way - you do not hold any real asset, only debt, with all the negative incentives that this produces (and which Bitcoin was designed to address).

Then, they launch their own cryptocurrency, which is the only real asset you can hold inside the Ripple system - so the logical step for users is to value Ripples more, as it is "real" money and not "paper money" or debt.

Anyhow, I see many flaws in Ripple. Its complicated, and gateways will for sure abuse the trust they were given. People will think this is Facebook, they will start to trust each other, and as soon as they realize they can create money out of thin air... Well, you can imagine what will happen. And we all know that debt based systems collapse.

Again: Ripple is everything Bitcoin is against. Bitcoin was designed to make you free and independent. With Ripple your money is still in the hands of your "trusted gateways" and their fractional reserverve.

So why some are "overreacting" to Ripple?
Perhaps because this is a Bitcoin forum and yet it seems to be the main Ripple publicity platform?

Edit: In fact "Bitcoin" seems to be their biggest publicity platform. Weren't they at the Bitcoin conference?

Exactly. Which is why I feel it's important to start up a negative publicity campaign against Ripple and OpenCoin Inc.

Advertising on bitcointalk.org is just the start.

[Zarathustra]

Why is it that Blitz can act like a civil human, but smoothie and cypherdoc act like asshats? Is this what happens when teenagers take to the forums?

Being civilized is nothing to be proud of. It means to be dehumanized, brainwashed, collectivized, governed, ruled, slaved.

[TwinTurbo]

I hope OpenCon's Cripple system never catches on.   

[Bitcoin Oz]

They need to stop lying about the open source claim because it makes the whole project look intellectually dishonest.

[virtualmaster]

I am surely not a Ripple fun and I don't ever had any Ripple but I must state that misterbiggs and joekatzls posts are very civilized and very rational at the first view. Probably they are the best payed Ripple bloggers. On the other side they are a lot of trolls payed with a couple of Ripples which are spreading a lot of erroneous rumors and are spamming and irritating everywhere. They are doing the dirty work for the top Ripplers and their boss in the background and they can remain with clean hands.
I must recognize that is a very clever organized system oiled with 50 millions of $ + some from Google.

[smoothie]

I am surely not a Ripple fun and I don't ever had any Ripple but I must state that misterbiggs and joekatzls posts are very civilized and very rational at the first view. Probably they are the best payed Ripple bloggers. On the other side they are a lot of trolls payed with a couple of Ripples which are spreading a lot of erroneous rumors and are spamming and irritating everywhere. They are doing the dirty work for the top Ripplers and their boss in the background and they can remain with clean hands.
I must recognize that is a very clever organized system oiled with 50 millions of $ + some from Google.

Read closer of Mr. Bigg's posts.

The guy condones manipulation, he hopes Ripple can establish gateways for people to open up "checking accounts" to use ripple, he claims a lot when most of what is claimed is not even reality.

He calls people asshats because we disagree with him and he censors posts in his moderated Ripple shill thread.

Also the guy is so immature as to PM me to tell me that based on my posted age on my account on this forum (which is not true) that he is shocked how I act. This shows me that he likes to classify people by their ages which I for one am against.

This is the same guy that claimed Litecoin was a scam when it was at 6 cents and look how wrong he was. Litecoin isnt even controlled by a central authority yet he claimed Litecoin was a bullshit copy.

He hopes Ripple/OpenCoin turn a profit then he will be profitable with his XRP investment.

I certainly hope those thinking about using Ripple actually wait until what OpenCoin says they are going to do...they actually do. So many broken promises  and mislabeling of what Ripple is and isn't by the creators.

Lastly, I listened to Chris Larsen talk in the alt-chain panel at the conference this past weekend and each time a question was posed his answers didn't really sell Ripple as viable alternative to Bitcoin nor a compliment. For being one of the main ripple talking heads not to be able to CORRECTLY and CLEARLY describe what the Ripple system is and how it works, is quite a big failure.

[🏰 TradeFortress 🏰]

I am surely not a Ripple fun and I don't ever had any Ripple but I must state that misterbiggs and joekatzls posts are very civilized and very rational at the first view. Probably they are the best payed Ripple bloggers. On the other side they are a lot of trolls payed with a couple of Ripples which are spreading a lot of erroneous rumors and are spamming and irritating everywhere. They are doing the dirty work for the top Ripplers and their boss in the background and they can remain with clean hands.
I must recognize that is a very clever organized system oiled with 50 millions of $ + some from Google.

Read closer of Mr. Bigg's posts.

The guy condones manipulation, he hopes Ripple can establish gateways for people to open up "checking accounts" to use ripple, he claims a lot when most of what is claimed is not even reality.

He calls people asshats because we disagree with him and he censors posts in his moderated Ripple shill thread.

Also the guy is so immature as to PM me to tell me that based on my posted age on my account on this forum (which is not true) that he is shocked how I act. This shows me that he likes to classify people by their ages which I for one am against.

This is the same guy that claimed Litecoin was a scam when it was at 6 cents and look how wrong he was. Litecoin isnt even controlled by a central authority yet he claimed Litecoin was a bullshit copy.

He hopes Ripple/OpenCoin turn a profit then he will be profitable with his XRP investment.

I certainly hope those thinking about using Ripple actually wait until what OpenCoin says they are going to do...they actually do. So many broken promises  and mislabeling of what Ripple is and isn't by the creators.

Lastly, I listened to Chris Larsen talk in the alt-chain panel at the conference this past weekend and each time a question was posed his answers didn't really sell Ripple as viable alternative to Bitcoin nor a compliment. For being one of the main ripple talking heads not to be able to CORRECTLY and CLEARLY describe what the Ripple system is and how it works, is quite a big failure.

LOL Smoothie, he must be very pissed

[virtualmaster]

He calls people asshats because we disagree with him and he censors posts in his moderated Ripple shill thread.

Also the guy is so immature as to PM me to tell me that based on my posted age on my account on this forum (which is not true) that he is shocked how I act. This shows me that he likes to classify people by their ages which I for one am against.

Sorry I didn't read this post of misterbigg. That means that he gave himself lower as he was before or the former rational posts he just copy pasted from a Ripple archive or different persons are acting 24/7 under this name and some of them are not so good educated.

[cypherdoc]

I am surely not a Ripple fun and I don't ever had any Ripple but I must state that misterbiggs and joekatzls posts are very civilized and very rational at the first view. Probably they are the best payed Ripple bloggers. On the other side they are a lot of trolls payed with a couple of Ripples which are spreading a lot of erroneous rumors and are spamming and irritating everywhere. They are doing the dirty work for the top Ripplers and their boss in the background and they can remain with clean hands.
I must recognize that is a very clever organized system oiled with 50 millions of $ + some from Google.

Read closer of Mr. Bigg's posts.

The guy condones manipulation, he hopes Ripple can establish gateways for people to open up "checking accounts" to use ripple, he claims a lot when most of what is claimed is not even reality.

He calls people asshats because we disagree with him and he censors posts in his moderated Ripple shill thread.

Also the guy is so immature as to PM me to tell me that based on my posted age on my account on this forum (which is not true) that he is shocked how I act. This shows me that he likes to classify people by their ages which I for one am against.

This is the same guy that claimed Litecoin was a scam when it was at 6 cents and look how wrong he was. Litecoin isnt even controlled by a central authority yet he claimed Litecoin was a bullshit copy.

He hopes Ripple/OpenCoin turn a profit then he will be profitable with his XRP investment.

I certainly hope those thinking about using Ripple actually wait until what OpenCoin says they are going to do...they actually do. So many broken promises  and mislabeling of what Ripple is and isn't by the creators.

Lastly, I listened to Chris Larsen talk in the alt-chain panel at the conference this past weekend and each time a question was posed his answers didn't really sell Ripple as viable alternative to Bitcoin nor a compliment. For being one of the main ripple talking heads not to be able to CORRECTLY and CLEARLY describe what the Ripple system is and how it works, is quite a big failure.

I walked by the Ripple booth probably a dozen times this past weekend.

Did anyone see any executives like Larson answering questions?  The only ones I saw were devs.

[smoothie]

He calls people asshats because we disagree with him and he censors posts in his moderated Ripple shill thread.

Also the guy is so immature as to PM me to tell me that based on my posted age on my account on this forum (which is not true) that he is shocked how I act. This shows me that he likes to classify people by their ages which I for one am against.

Sorry I didn't read this post of misterbigg. That means that he gave himself lower as he was before or the former rational posts he just copy pasted from a Ripple archive or different persons are acting 24/7 under this name and some of them are not so good educated.

I am not indicating he can/can't act rational.

My point was don't be so easily deceived by what HE or the Ripple fan boy club are saying, but what they are DOING.

Actions speak...well you know the rest...

[🏰 TradeFortress 🏰]

Pssst, executives don't deserve to have to talk to mere mortals!

[smoothie]

I am surely not a Ripple fun and I don't ever had any Ripple but I must state that misterbiggs and joekatzls posts are very civilized and very rational at the first view. Probably they are the best payed Ripple bloggers. On the other side they are a lot of trolls payed with a couple of Ripples which are spreading a lot of erroneous rumors and are spamming and irritating everywhere. They are doing the dirty work for the top Ripplers and their boss in the background and they can remain with clean hands.
I must recognize that is a very clever organized system oiled with 50 millions of $ + some from Google.

Read closer of Mr. Bigg's posts.

The guy condones manipulation, he hopes Ripple can establish gateways for people to open up "checking accounts" to use ripple, he claims a lot when most of what is claimed is not even reality.

He calls people asshats because we disagree with him and he censors posts in his moderated Ripple shill thread.

Also the guy is so immature as to PM me to tell me that based on my posted age on my account on this forum (which is not true) that he is shocked how I act. This shows me that he likes to classify people by their ages which I for one am against.

This is the same guy that claimed Litecoin was a scam when it was at 6 cents and look how wrong he was. Litecoin isnt even controlled by a central authority yet he claimed Litecoin was a bullshit copy.

He hopes Ripple/OpenCoin turn a profit then he will be profitable with his XRP investment.

I certainly hope those thinking about using Ripple actually wait until what OpenCoin says they are going to do...they actually do. So many broken promises  and mislabeling of what Ripple is and isn't by the creators.

Lastly, I listened to Chris Larsen talk in the alt-chain panel at the conference this past weekend and each time a question was posed his answers didn't really sell Ripple as viable alternative to Bitcoin nor a compliment. For being one of the main ripple talking heads not to be able to CORRECTLY and CLEARLY describe what the Ripple system is and how it works, is quite a big failure.

I walked by the Ripple booth probably a dozen times this past weekend.

Did anyone see any executives like Larson answering questions?  The only ones I saw were devs.

Each time I passed I either seen Joel or Stephan (? is that his name). So no I did not see anyone else there and I too passed the booth several times.

[smoothie]

Of the 4 alt-chain panelists that were there speaking on the mic, the only one I drew into real question was Chris Larsen. All the others appeared to know exactly how their systems worked and could answer very clearly what it did and how it worked without any super long explanations that really said nothing.

Just ask Cypher, he was sitting right next to me...lolz

As Maged said, the part that irks me is that Ripple is being advertised as something that it isn't. I hate that. It is scummy as fuck.

[oakpacific]

Even if Opencoin releases their source code as they promised, it takes very little to create a clone network that makes a bit of improvement here and there, bundled with another currency hot off the "printing press", which its creators will do everything(yeah, including being a better network operator than Opencoin) to push the price to very high level.

In fact I believe most of the things that Ripplers boast about Ripple can be easily implemented by slightly modify Bitcoin's source code, just that no one will try to implement such  a flawed system.

[ShadowOfHarbringer]

he's busy deleting posts of mine as well.  he's [misterbigg) a scumbag Ripple shill.

Right in the spot.

Also, ripple is:
- NOT Open Source (lies on site & wiki)
- NOT Decentralized (lies on site & wiki)
- NOT Based on "the same underlying cryptography as BTC" (lies on site & wiki)
- Printable/Inflatable in any amount, at any time by its creators

For more, check my signature.