Ripple is not a scam

[BazkieBumpercar]

what is the point of having centralised currency, I thought the plan was to move away from this

Exactly my thoughts; Ripple currency is bitcoin without everything that makes bitcoin great. Whether you'd call it a scam or not, it's pretty much not the way I want currency to go.

[mmeijeri]

People are interested in it because they believe OpenCoin will release the source as they have said they would. I doubt they will get people to pay very much for XRP before the code is released.

[erk]

Ripple is so open compared to Bitcoin.

Don't you have somewhere else to be other than this forum? Surely you must.


https://bitcointalk.org/index.php?topic=211325.0

My suggestion is that anyone why starts a Ripple thread here should be added to your ignore list, just like I have added TheSwede75

[nameface]

My suggestion is that anyone why starts a Ripple thread here should be added to your ignore list, just like I have added TheSwede75

Are you ignoring him because he's anti-Ripple, or just because he's an idiot?

[webr3]

what is the point of having centralised currency, I thought the plan was to move away from this

Exactly my thoughts; Ripple currency is bitcoin without everything that makes bitcoin great. Whether you'd call it a scam or not, it's pretty much not the way I want currency to go.

1) Ripple is a decentralized clearance system which facilitates the transfer of money from one entity to another. It compliments bitcoin and other currencies.

2) XRP, is a utility of the ripple network. 1 XRP is the fee for roughly 10-100k ledger entries. Each fee is destroyed, reducing the overall amount of XRP in existence.

Thus, if (1) succeeds and gains significant adoption (it's certainly growing) then you can calculate the long term value of 1 XRP as being the USD value you'd associate with 10-100k transactions / ripple ledger entries.

I personally hold multiple currencies, BTC and XRP are just two of them.

You can use ripple without needing to pay for XRP, just get some from the giveaway or ask somebody for a couple of hundred and you'll have enough for a lifetimes normal use of ripple without worrying about XRP the currency.

[nameface]

XRP, is a utility of the ripple network. 1 XRP is the fee for roughly 10-100k ledger entries.

...

You can use ripple without needing to pay for XRP, just get some from the giveaway or ask somebody for a couple of hundred and you'll have enough for a lifetimes normal use of ripple without worrying about XRP the currency.

What would you estimate the value of XRP to be if every transaction in the world was happening in the Ripple ledger?

Is part of the reason there are so many XRP (100B) to fill the need of billions of people each needing free lifetime XRP balance for transactions? Since we don't know exactly what the fee will be, I suppose it's also generally important to have a vast supply of XRP.

Do we need a new word to describe XRP? It's not a hard money, like BTC or Gold, and it's not a fiat currency. It's a new sort of currency that was born out of a necessity in a system. Necessary network currency, NNC?

[smoothie]

Without the source all of their claims of how ripple works, total premine XRP, and its supposed decentralized nature are all but unproven claims. Otherwise bullshit.

source code?

[mah87]

I love these guys who just repeat over and over again how Ripple is a scam, yet don't have the balls or the intellect to back up their parroting with an argument. It is my understanding there were a lot of those in the early days of Bitcoin.

It's quite simple, Ripple takes the brilliant idea of bitcoin and removes the brilliant part while calling it something new.

Instead of keeping it decentralized, to avoid one group taking control and dictating to everyone else, it centralizes the whole process for the advantage of the few(Ripple's devs and it's financial backers).   This is 100% against what Bitcoin is about, and one of the many reasons why so many dislike Ripple.

What makes it a "scam", is that it claims to want to coexist with Bitcoin while at the same time working towards replacing it.  You said it yourself in a reply earlier

I see Bitcoin as the ultimate store of value so long as the network continues to grow. In terms of global ubiquity as a payment standard, there is some serious heavy lifting needed, heavy-lifting that is in a sense already being done/has been done by Ripple devs.

You're not "replacing bitcoin", you're only replacing a large portion of what makes Bitcoin valuable(its ability to be used as a medium of exchange).  If you can't see how that IS effectively trying to replace Bitcoin then I don't know how Im going to convince you.

I thought that bitcoin was just about double spending prevention cost erasing.... Ripple do that too isn't ? I'm not sure that the "bictoin idea" is about being decentralized....I think it's about improving payment system resolving smartly and costless  the double spending problem...