Is Ripple a Scam?

[The Goat Master]

There are so many posts saying Ripple is a scam.  Also, some of the adverts say it is a scam.  What's up with Ripple?
If you think it's a scam and have some, why not send me some? --mod note: edited address--

[1714867443]

1714867443

[HD7970]

Ripple is not Scam !!!

[The Goat Master]

Ripple is not Scam !!!

Why? Reasoning, please.

[juca]

i was asking the same to myself today...

[Birdy]

The answer is: We don't know

But there are quite some people that oppose ripple and think it's a scam or dislike their approach.

[abety876]

way too confusing :S

[ironcross360]

Ripple is a scam. But is a good investment. It is a scam because it has not open sourced, And allows IOU's and that allows you to easily get scammed.

[The Goat Master]

Ripple is a scam. But is a good investment. It is a scam because it has not open sourced, And allows IOU's and that allows you to easily get scammed.

IOU's? how?

[SoftballSuperstar]

I agree with the confusing part.  the worst part is I see someone on here took advantage of the confusing aspect, and looks like he scammed someone for money, but has had zero repurcusions.  This was a long time member with tons of posts.  

I don't know the whole situation, but it just doesn't seem right.  But hey, I guess there are people in the world who just don't care, and love to look to prey on people.

[lava]

YES, Stay away!

[mmeijeri]

Not open sourced doesn't mean it's a scam, that's another outrageous accusation. This is really getting pathetic.

It's OK for you not to like the fact that XRP is competing with BTC. It's OK for you to try to support a Ripple alternative that doesn't have its own built-in currency to threaten Bitcoin. Open Transactions could be such an alternative and it would add very interesting capabilities to both Bitcoin and Ripple. Or you could try to build a Ripple alternative that uses Bitcoin as its built-in currency. It's OK to try to rally miners to this cause.

It's not OK to spread lies, to pay people to spread lies and to play tricks on people who are just learning about Ripple in order to give them a negative impression of Ripple. It is enormously immature, unprofessional and unethical and it is hurting the cause of cybercurrencies in general. You haters should be ashamed of yourselves.

Instead of falsely maligning Ripple, why don't you look at Bitcoin's strengths and help promote them? You could contribute to a Bitcoin evangelisation campaign in many ways, through activism, programming, or simply by donating some money to various projects.

Instead of paying people to slander a worthy competitor, why don't you contribute to fund that can pay fellowtraveler and others to work on an interface between Open Transactions and Bitcoin?

If you think Ripple gateways are unreliable, why don't you work on a website that will allow people to monitor Ripple and BTC wallets of the various gateways to make sure that gateways aren't issuing more IOUs?

Try being constructive for a change instead of spewing hate and lies.

[bitcoinscanada]

Might be best to just stick with Bitcoin

[ironcross360]

With IOU's you are not the owner of the money someone else is, So that person can steal your money (This is why Ripple is greedy)

[Illimensky]

I was not sure, like many people on this thread, if Ripple was a scam.

Then, I realized:

• Even though the creators of Ripple say that it is open source, it actually isn't.
• You don't have any wealth in Ripple's system - you just have debt.
• Ripple has already been 51% attacked by its creators.

I would stay away.  As far away as possible.

[bitcoinbear]

Ripple is a scam. But is a good investment. It is a scam because it has not open sourced, And allows IOU's and that allows you to easily get scammed.

In the ripple system you can only be given IOUs which are from people you trust. The only reason you should trust an IOU issuer is if you know they will be able to pay you when you ask to redeem their IOUs. For example, I trust Bitstamp BTC IOUs because I know they have BTC reserve equalling the amount of IOUs they have issued, so anytime I send BTC thorugh ripple to them I will have BTC credited to my account on Bitstamp. If you are careful with who you grant lines of trust to, then you should have no problem with Ripple.

Then there is the whole other issue of ripples, XRP, the currency within the ripple system. I would not call it a scam, they have been very open about their plans. If you think that the ripple system is useful, then it makes sense for the people who built it to get some money. I personally would not pay anywhere near the going rate to acquire XRP, I think they are currently overpriced.

[bitcoinenthusiast]

You don't have any wealth in Ripple's system - you just have debt.

exactly!

[djmagicmetz]

You don't have any wealth in Ripple's system - you just have debt.

exactly!

Ripple is just a pooled exchange.

[BTC-UK]

Ripple is just here to ry and destroy btc. Not gona happen!

[nor9865]

I believe ripple is not a scam. There's a lot of people just afraid of it or they think  it can ruined there business.

[bitcoinbear]

Ripple is just here to ry and destroy btc. Not gona happen!

Ripple is not trying to destroy Bitcoin. In fact, they are working hard to interface with Bitcoins. This is like claiming MtGox is trying to destroy bitcoins, it is just silly.

Ripple and Bitcoin are trying to solve different problems, and they are useful when used together.