Ripple is not a scam

[nameface]

I spoke quite a bit with the Ripple team at the San Jose conference. The core guys are bigtime Bitcoin guys and geniuses. In my opinion nothing about Ripple is intended to work against Bitcoin. Ripple's features are complimentary to Bitcoin and have the potential to significantly boost functionality and adoption. Since they're giving away XRP for free, I have no clue how anyone can argue it's a scam.

I learned that ~1.2% of all XRP have already been given away. I think this shows that OpenCoin is making good on the promise to distribute XRP fairly over time. It's VERY early. A big goal of the distribution of XRP is to ensure the price of XRP keeps moving up throughout the process. It's an ingenious strategy which I'm assuming will require a nimble implementation.

I got a demo of the Federation Protocol in action in a way I hadn't seen, and was offered a copy of the Ripple source code. Also, Jed Mccaleb (CTO/Ripple creator) told me that if he had it his way he would release the source immediately.

You don't need to hold more than ~$1 worth of XRP in order to use Ripple (to cover network fees). You can then pop in and out of the system in any currency you prefer.

Chris Larsen (CEO) spoke on the Alt-Chain panel and nobody attacked him or asked him tough questions about Ripple being a scam. It became clear during that panel that there's a need for more decentralized payment processing layers in the eco-system than Bitcoin alone, and that Ripple will be playing a valuable role.

[pheaonix]

source code please?

[digitalindustry]

source code please?

ha ha , see now, this is why i love freedom. and the internet.

[cdog]

Chris Larsen (CEO) spoke on the Alt-Chain panel and nobody attacked him or asked him tough questions about Ripple being a scam.

Well, thats because I wasnt there and you know what, shame on me for not being that guy. I would have loved to been escorted out by security.

Listen, Ripple is a Hustle. Everyone has a hustle. For you, it might be working at McDonalds. For these guys, its separating a sucker and his money.

Yes, they are brilliant at what they do. But lets not to forget to call a spade a spade.

[flashlm]

up

[tutkarz]

I spoke quite a bit with the Ripple team at the San Jose conference. The core guys are bigtime Bitcoin guys and geniuses. In my opinion nothing about Ripple is intended to work against Bitcoin. Ripple's features are complimentary to Bitcoin and have the potential to significantly boost functionality and adoption. Since they're giving away XRP for free, I have no clue how anyone can argue it's a scam.

I learned that ~1.2% of all XRP have already been given away. I think this shows that OpenCoin is making good on the promise to distribute XRP fairly over time. It's VERY early. A big goal of the distribution of XRP is to ensure the price of XRP keeps moving up throughout the process. It's an ingenious strategy which I'm assuming will require a nimble implementation.

I got a demo of the Federation Protocol in action in a way I hadn't seen, and was offered a copy of the Ripple source code. Also, Jed Mccaleb (CTO/Ripple creator) told me that if he had it his way he would release the source immediately.

You don't need to hold more than ~$1 worth of XRP in order to use Ripple (to cover network fees). You can then pop in and out of the system in any currency you prefer.

Chris Larsen (CEO) spoke on the Alt-Chain panel and nobody attacked him or asked him tough questions about Ripple being a scam. It became clear during that panel that there's a need for more decentralized payment processing layers in the eco-system than Bitcoin alone, and that Ripple will be playing a valuable role.

I came to ripple open minded and thought its good idea until i started reading about ripples (XRP). Its nonsense. They premined it and said they will be handing it for free. So i was looking where i can get some. And guess what. I cant get it. Others advised me to buy it. Why i have to buy it when i was supposed to get it for free?
But its not all. You say that its enough to have $1 worth of XRP to cover transaction fees. But how many XRP should it be if its value is 0? They have the same problem as bitcoin. In order to transfer value you have to use item that already have some value. But if XRP is handed for free then it has no value at all. Then its impossible to transfer anything valuable because you will always end with 0 if you multiply anything by 0.

And here we come injustice. How are you going to give people XRP for free so everybody will get equal value to be fair for all? You cant do this. Then its not surprising that people are calling it a scam. Maybe its not a scam but something is really wrong with ripples and i am not going to use it in shape it is now. And i am not going to pay even $0.01 to buy ripples ever.

[nameface]

I didn't grab the source because I'm not a developer, nor am I some hater who would probably leak it for nefarious purposes lol. I think it'll be released very soon, the network will grow, and we'll see how much of scam it really is. I'm telling you, the plan with OpenCoin is to remove themselves gradually over time, and that ALL of the XRP be returned into the eco-system in a short period of time. But we can't know the future, so yeah, it might all fall apart, but it's not a scam.

[mr_random]

One of the top guys at Ripple gave media interview recently and he said XRP could well be competitor to Bitcoin. Do they think we are stupid? Tell us one thing on the forum - oh it's just a complement to Bitcoin it will never replace it; yet tell their investors and the media another?

Ripple have also said on record their business model is based on making the value of XRP increase. That makes them profit because they plan to keep a big chunk of XRP for themselves.

It's a profit driven enterprise, they will go wherever the profit takes them. It's centralised, the owners have most of the money, it's closed source... it goes against everything most people in the Bitcoin community believe in.

[Nik1ab]

http://ripplescam.org/

[bitbitcoincoin]

Ripple is the most dangerous scamcoin out there right now for many reasons.

For one, they actually have people fooled into thinking their end game is co-existing with Bitcoin.   This couldn't be farther from the truth if you actually delve into Ripple, it's end game is to be the defacto online cryptocurrency solution.

What's even scarier about Ripple is due to it's centralized structure, it's by far the most appealing way for the banking industry to get it's beak wet in the crypto currency game and continue it's strangle hold on currency in general.  This flies in the face of one of the main philosophical points of crypto currency, shifting the balance of power away from the few and to the many.

Im hopeful more and more will come to realize how big and dangerous a scam Ripple is, but with the way they buy support by handing out gobs of free rips and the obvious PR firm backing them we may be in trouble.

[digitalindustry]

One of the top guys at Ripple gave media interview recently and he said XRP could well be competitor to Bitcoin. Do they think we are stupid? Tell us one thing on the forum - oh it's just a complement to Bitcoin it will never replace it; yet tell their investors and the media another?

Ripple have also said on record their business model is based on making the value of XRP increase. That makes them profit because they plan to keep a big chunk of XRP for themselves.

It's a profit driven enterprise, they will go wherever the profit takes them. It's centralised, the owners have most of the money, it's closed source... it goes against everything most people in the Bitcoin community believe in.

who cares if its profit driven, thats great!!  , its the fact that its a complete scam , is my main issue.

btw nameface i like the logo _ you design ?

[nameface]

One of the top guys at Ripple gave media interview recently and he said XRP could well be competitor to Bitcoin.

Ripple is a payment protocol meant to facilitate transactions in any currency around the world. Bitcoin is an amazing currency. They are complimentary.

If you think Bitcoin will very shortly replace every other currency and dominate all the world's transactions (I think this would be friggin' amazing FTR), then theoretically Ripple isn't necessary. I'm skeptical about this being possible in the short term, and I'm skeptical of the scalability of the number of transactions allowable in the network. Major changes will need to occur in Bitcoin around this, like off-chain transactions.

The incentive for developers to keep working on the sorts of amazing things that Bitcoin needs from now until global domination just isn't there, imho. If you build amazing Bitcoin stuff and make it grow, and make the price rise, you're mostly just enriching someone other than yourself (unless you're an early adopter, and most smart capable people on the planet obviously aren't). But let's wait and see where the VC money goes and see if we can find opportunity there..? Oh wait, it's starting to go to OpenCoin... hm.... Maybe Google Ventures and Lightspeed are idiots? Maybe the price of BTC will cruise by 24x every year from now on? Keep dreaming.

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.

Remember that the global transactional currency market is MASSIVE (est. 60 trillion dollars). If you think that Bitcoin's problem is Ripple, you're delusional about what the scalability of this stuff is and how early cryptographic money solutions are.

[CanadianGuy]

I don't see how giving away free XRP proves that it's not a scam.  If BFL started giving away useless mining rigs that don't work with with a samsung taped to the front, would you believe it's not a scam as well?
hehe

[nameface]

I don't see how giving away free XRP proves that it's not a scam.  If BFL started giving away useless mining rigs that don't work with with a samsung taped to the front, would you believe it's not a scam as well?
hehe

LOL
Don't get me started on BFL. They were at the conference showing off their new offline wallets and everyone was like, yeah, wtvr, but what about the mining hardware you promised us?

XRP > anything useless

[TheSwede75]

I spoke quite a bit with the Ripple team at the San Jose conference. The core guys are bigtime Bitcoin guys and geniuses. In my opinion nothing about Ripple is intended to work against Bitcoin. Ripple's features are complimentary to Bitcoin and have the potential to significantly boost functionality and adoption. Since they're giving away XRP for free, I have no clue how anyone can argue it's a scam.

I learned that ~1.2% of all XRP have already been given away. I think this shows that OpenCoin is making good on the promise to distribute XRP fairly over time. It's VERY early. A big goal of the distribution of XRP is to ensure the price of XRP keeps moving up throughout the process. It's an ingenious strategy which I'm assuming will require a nimble implementation.

I got a demo of the Federation Protocol in action in a way I hadn't seen, and was offered a copy of the Ripple source code. Also, Jed Mccaleb (CTO/Ripple creator) told me that if he had it his way he would release the source immediately.

You don't need to hold more than ~$1 worth of XRP in order to use Ripple (to cover network fees). You can then pop in and out of the system in any currency you prefer.

Chris Larsen (CEO) spoke on the Alt-Chain panel and nobody attacked him or asked him tough questions about Ripple being a scam. It became clear during that panel that there's a need for more decentralized payment processing layers in the eco-system than Bitcoin alone, and that Ripple will be playing a valuable role.

100% total and utter scam. If you can't see that you are so wildly self deluded (OR more likely, you own a ton of worthless ripple that you are trying to peddle)

[wachtwoord]

The Ripple system is nice and has potential (although I would like it to be open source).

The Ripple currency (XRP) is as much a scam as fiat currency.

[nameface]

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.

[mr_random]

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.

We must be living in different parallel universes because I've double checked and you ignored most of the points in my message.

[bitbitcoincoin]

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.

[ManBearCoin]

I wouldn't say it is a scam that term gets thrown around too much.
It fulfills a purpose for those who choose to use this service.

It is a semi-centralized service.