afbitcoins (OP)
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Merit: 1061
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May 30, 2013, 11:55:45 PM |
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I say Ripples will try and eat bitcoins liver but what do you think
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BitcoinAshley
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May 31, 2013, 12:47:26 AM |
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No threat whatsoever. Bitcoin is decentralized. Ripple is not. Bitcoin is open-source. Ripple is not. Bitcoin network can't realistically be shut down by an authority. Ripple can, easily, just like e-Gold and Liberty Reserve. Apples and oranges, bro. Bitcoin and Ripple aren't even in the same ballpark. I'm not against centralized closed-source mutual credit systems or anything, I'm just practically assessing the threat. And there is none.  Check out OpenTransactions + BitMessage (link in my sig) if anyone's interested in helping test/develop a system that provides much of the functionality of Ripple without actually being Ripple. |
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ElectricMucus
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Marketing manager - GO MP
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May 31, 2013, 01:18:54 AM |
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Ripple is the new scape goat of self-appointed bitcoin zealots. They are so afraid that something might threaten their golden goose (their investment) that they hack at every bit of innovation this community has to bring. It was the same thing with Bitcoin forks like litecoin. And now they got a new target ripples potential became obvious. They are the true "weak hands".
They are the best anti-indicator I know of. Point #1 all the way!
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notme
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May 31, 2013, 01:54:35 AM |
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Ripple is the new scape goat of self-appointed bitcoin zealots. They are so afraid that something might threaten their golden goose (their investment) that they hack at every bit of innovation this community has to bring. It was the same thing with Bitcoin forks like litecoin. And now they got a new target ripples potential became obvious. They are the true "weak hands".
They are the best anti-indicator I know of. Point #1 all the way!
Ripple is quite interesting, but BitcoinAshley raises some valid points. I won't be using it until I can read the code and at least have the option of running my own server. |
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bitwhizz
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May 31, 2013, 07:15:12 AM |
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afbitcoins (OP)
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Activity: 2100
Merit: 1061
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May 31, 2013, 07:29:01 AM |
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Ripples can be shut down but what if the authorities actually embrace it and rather than shut it down promote in the media take control of it, and use it as the basis for a centrally controlled bank controlled debt based monetary system?
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alxs
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May 31, 2013, 07:31:16 AM |
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There are 2 things very interesting IMO with ripple:
1) Jed McCaleb is a developer.
2) Big VC money, Google, has invested in ripple.
These 2 facts tell me ripple is not going to die anytime soon.
Some gamblers on this forum are betting that ripple will overtake btc.
Recent posts about BMOT (bitmessageopentransactions) = the death of ripple are premature.
People forget the power of marketing, and google is master of marketing.
Currency wars are well underway. We all know crypto-currency will ultimately win,
but when and how is a mystery to us all.
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crazy_rabbit
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RUM AND CARROTS: A PIRATE LIFE FOR ME
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May 31, 2013, 07:32:44 AM |
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Yes, it is a threat. It's designed to monetize the idea of Bitcoin and make the founder ludicrously rich. We shall see how it works out.
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more or less retired.
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mufa23
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I'd fight Gandhi.
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May 31, 2013, 07:36:44 AM |
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Ripple is dumb. Not going to bother ranting on and on. Just saying now before there is problems: I warned you.
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Positive rep with: pekv2, AzN1337c0d3r, Vince Torres, underworld07, Chimsley, omegaaf, Bogart, Gleason, SuperTramp, John K. and guitarplinker
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gizmoh
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Activity: 1428
Merit: 1000
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May 31, 2013, 07:39:47 AM |
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Does Ripple has a Money Transmitting license in the USA since they are located there?
It is a clear case for shutdown if not, issuing money 'like' in USA..
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How Ripple Rips you: "The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners. Ripple Labs also had a giveaway of under 200 million XRP (0.002% of all XRP) via World Community Grid that was later discontinued.[29] Ripple Labs will retain the remaining 25 billion"
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Missionary
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May 31, 2013, 08:03:36 AM |
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Ripple NEEDS to fail! It's a cancer on the Bitcoin ecosystem.
It's centralized and closed source. It's nothing like bitcoin and any further association is bad for the Bitcoin.
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I am an evangelical missionary heading to China. Donations are welcome here (dedicated wallet): 1H8iswayfTaRb6oe2WjMCRmchBJHYyfx9z You can find more information about my plans here: http://btcmission.com |
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afbitcoins (OP)
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Merit: 1061
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May 31, 2013, 08:10:05 AM |
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Ripple NEEDS to fail! It's a cancer on the Bitcoin ecosystem.
It's centralized and closed source. It's nothing like bitcoin and any further association is bad for the Bitcoin.
But it must be open, the company is called OpenCoin  |
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smoothie
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LEALANA Bitcoin Grim Reaper
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May 31, 2013, 08:18:24 AM |
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This is the basic fail of many scams on this forum and the bitcoin community:
1. Fail to prove anything you claim.
2. make crazy stupid claims that sucker people into giving you money.
3. Rinse and repeat.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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EuroTrash
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May 31, 2013, 09:13:47 AM |
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Can't help but noticing that current price of XRP is too high for the number of XRPs produced. And Opencoin is supposed to give away another billion XRP to mailing list subscribers before the end of this month. Which hasn't happened so far. And their lips are sealed about it.
I'm speculating that while the underlying idea is good, the illusion of power and control that comes with it could corrupt even Opencoin's best minds.
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<=== INSERT SMART SIGNATURE HERE ===>
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viboracecata
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Activity: 1316
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Varanida : Fair & Transparent Digital Ecosystem
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May 31, 2013, 09:28:07 AM |
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We need both good money and bad money in crypto coin community.
so I vote for first option.
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herzmeister
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May 31, 2013, 10:10:14 AM |
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1. I'm afraid XRP as a currency will take some market share from Bitcoin, if Ripple becomes successful. The Ripple system is much more traceable than Bitcoin, that's why Google is interested. Most folks out there are not privacy-aware and just don't care.
2. Also, Ripple will allow Bitcoin-IOUs and thus enable fractional reserve lending with Bitcoin. It will practically extend the 21 million money supply.
It's senseless to bash on Ripple. If ripple.com fails, someone else will pick up these ideas. It's only a question of time. The market space for digital currencies has been opened, and there will be many players over time.
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Endgame
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May 31, 2013, 01:52:50 PM |
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Ripple shows considerable promise as a method of exchange, and for funding other exchanges. When it comes to actually making transactions however, or storing value, I think bitcoin will always be the preferred option.
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afbitcoins (OP)
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May 31, 2013, 03:47:46 PM |
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1. I'm afraid XRP as a currency will take some market share from Bitcoin, if Ripple becomes successful. The Ripple system is much more traceable than Bitcoin, that's why Google is interested. Most folks out there are not privacy-aware and just don't care.
2. Also, Ripple will allow Bitcoin-IOUs and thus enable fractional reserve lending with Bitcoin. It will practically extend the 21 million money supply.
It's senseless to bash on Ripple. If ripple.com fails, someone else will pick up these ideas. It's only a question of time. The market space for digital currencies has been opened, and there will be many players over time.
Quite a sober anaylsis, you probably right that fractional reserve lending with bitcoin is inevitable, but the thought of it makes me want to paint my face blue and run around shouting 'Freeeedom!!!' |
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Missionary
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May 31, 2013, 04:17:38 PM |
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I am afraid that Ripple will be presented as an integral part of the Bitcoin network, thus when their true intentions finally show it's going to reflect bad on Bitcoin.
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I am an evangelical missionary heading to China. Donations are welcome here (dedicated wallet): 1H8iswayfTaRb6oe2WjMCRmchBJHYyfx9z You can find more information about my plans here: http://btcmission.com |
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ArticMine
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Monero Core Team
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May 31, 2013, 07:50:50 PM |
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The issuers of Ripple debt are going to be in the regulators cross-hairs in a big way if they are large enough in order for their debt to be considered trustworthy and consequently liquid. Considerer what would happen if Liberty Reserve had issued Liberty Reserve dollars over Ripple and then the US Government seizes the underlying assets. Those who were short the Ripple Liberty Reserve debt would see gains similar to those who have been long Bitcoin.
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