Bitcoin Forum
December 11, 2017, 07:15:03 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2] 3 4 5 6 7 8 9 »  All
  Print  
Author Topic: Ripple starts to conquer the world from China  (Read 9807 times)
Stephen Gornick
Legendary
*
Offline Offline

Activity: 2338


✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪


View Profile
September 03, 2013, 07:39:28 PM
 #21

Ripple will never be open source.   It is just the bait to build the network.  Once it is large enough there is little reason to open source it.

Would the arrival of the day men with guns show up to confiscate hardware and shut it down increase the likelihood they release as open source?

Today Ripple is being used as the successor [Edit: a successor] to the "redeemable code" -- a debt-based voucher.  Releasing as open source is the only way for that network to continue [Edit: and existing XRPs held by anyone to continue to have value] after such an event.

"You Asked For Change, We Gave You Coins" -- casascius
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513019703
Hero Member
*
Offline Offline

Posts: 1513019703

View Profile Personal Message (Offline)

Ignore
1513019703
Reply with quote  #2

1513019703
Report to moderator
1513019703
Hero Member
*
Offline Offline

Posts: 1513019703

View Profile Personal Message (Offline)

Ignore
1513019703
Reply with quote  #2

1513019703
Report to moderator
AmazonStuff
Hero Member
*****
Offline Offline

Activity: 610



View Profile
September 03, 2013, 07:47:43 PM
 #22

Ripple will never be open source.   It is just the bait to build the network.  Once it is large enough there is little reason to open source it.

Would the arrival of the day men with guns show up to confiscate hardware and shut it down increase the likelihood they release as open source?

Today Ripple is being used as the successor to the "redeemable code" -- a debt-based voucher.  Releasing as open source is the only way for that network to continue after such an event.

With all due respect Mr.Gornick, but that is just one of the Ripple features. For me Ripple is not a Bitcoin competitor, so:
Ripple != Bitcoin

it's more like:
Ripple = Bitcoin + MtGox (or Bitstamp, BTC-e....etc.)

Is MtGox centralized? Is MtGox open-source?

Who many of Bitcoin traders are using a Bitcoin in de-centralized fashion, for example without exchange websites? I think maybe up to 5%...
aggster
Full Member
***
Offline Offline

Activity: 217



View Profile
September 03, 2013, 08:01:38 PM
 #23

i logged into my ripple account the other only to find that all bu6t 50 of my ripples had been transferred to another address, and there doesn't seem to be anything I can do about it, not good.
never had this problem with bitcoins, i wont be using ripple again
AmazonStuff
Hero Member
*****
Offline Offline

Activity: 610



View Profile
September 03, 2013, 08:06:31 PM
 #24

i logged into my ripple account the other only to find that all bu6t 50 of my ripples had been transferred to another address, and there doesn't seem to be anything I can do about it, not good.
never had this problem with bitcoins, i wont be using ripple again

Sorry to hear that, next time use long, unique and complicated password with numbers, symbols etc...  Sad
QuantPlus
Sr. Member
****
Offline Offline

Activity: 280



View Profile
September 03, 2013, 08:17:39 PM
 #25

Centralized, premined, and closed source. Shifts around debt rather than actual value. It would be completely dead if it wasn't leeching off bitcoin, like some sort of parasite.

Shame on you for supporting such shit.

I don't have nothing to be shamed about. It's my decision and my investment, it's my business where I will invest or not to invest. As much as you have the right to have your own opinion, I have the right to have my own opinion. It's best for everyone that both sentiments are heard.

You are being lied to by dozens of Ripple Stooges.

Now you have become a Ripple Dupe. Congratulations.

XRP trading volume is about 10% of what it was 2-3 months ago...
The network is a Ghost Town.

http://bitcoincharts.com/charts/rippleXRP#rg60zigDailyztgSzm1g10zm2g25zv
JonHolmquist
Full Member
***
Offline Offline

Activity: 154


Jon Holmquist


View Profile WWW
September 03, 2013, 08:23:20 PM
 #26

They aren't "working hard" at open sourcing it.   The code exists, you release it with open source license .... TADA it is open source.

Ripple is simply bait and switch.  Ripple has no good mechanism to handle fradulent servers so they won't open source it.  Of course saying that means it is a DOA so they will let it linger on with the bait of open source.   It has been years and it is no closer to being open source then when initially promised.  In a couple more years once it has enough marketshare it will morph to "an open network" which is marketing for closed source but anyone can obtain a license to run a server.   OpenCoin will issue and revoke licenses of peers to ensure that only compliant ones exist.

I guess the term is a little misleading.

The goal here it open source it. The path to getting it open sourced requires the addition of several not coded features.

Things like anti-ddos features, peer discovery improvements, and limiting validation broadcasts.

These features are core requirements before the server code is open sourced. If we don't take the time to polish these features, the network could open itself up to attacks.


AmazonStuff
Hero Member
*****
Offline Offline

Activity: 610



View Profile
September 03, 2013, 08:29:01 PM
 #27

Centralized, premined, and closed source. Shifts around debt rather than actual value. It would be completely dead if it wasn't leeching off bitcoin, like some sort of parasite.

Shame on you for supporting such shit.

I don't have nothing to be shamed about. It's my decision and my investment, it's my business where I will invest or not to invest. As much as you have the right to have your own opinion, I have the right to have my own opinion. It's best for everyone that both sentiments are heard.

You are being lied to by dozens of Ripple Stooges.

Now you have become a Ripple Dupe. Congratulations.

XRP trading volume is about 10% of what it was 2-3 months ago...
The network is a Ghost Town.

http://bitcoincharts.com/charts/rippleXRP#rg60zigDailyztgSzm1g10zm2g25zv

There is a problem with bitcoincharts reporting ripple price and volume, sometimes chart is stucked, so take that graphs with a grain of salt.
http://xrp.webr3.org/btc-xrp graphs are real-time, but sometimes they get stucked too...
KonstantinosM
Hero Member
*****
Offline Offline

Activity: 686


Personal Text?


View Profile
September 03, 2013, 08:55:24 PM
 #28

I decided to make a wallet for ripple, then I found out that it's closed source and controlled by a for profit corporation.

I don't think we can trust a single entity to give away every single coin in a system.

Ripple is shit. I'm mining New Bitcoin now, What we really need is an alt like New Bitcoin only about 64 times faster. Something like bitcoin only 256 times the blocks (still halving every 4 years) Transactions would confirm in 14-15 seconds and ripple would have no market.


Maybe ripple should be considered a scam. The whole system is dangerous and may collapse. I'm not willing to take such risks.
mymenace
Legendary
*
Offline Offline

Activity: 1344


Smile


View Profile
September 03, 2013, 09:18:09 PM
 #29

I decided to make a wallet for ripple, then I found out that it's closed source and controlled by a for profit corporation.

I don't think we can trust a single entity to give away every single coin in a system.

Ripple is shit. I'm mining New Bitcoin now, What we really need is an alt like New Bitcoin only about 64 times faster. Something like bitcoin only 256 times the blocks (still halving every 4 years) Transactions would confirm in 14-15 seconds and ripple would have no market.


Maybe ripple should be considered a scam. The whole system is dangerous and may collapse. I'm not willing to take such risks.


Sounds like Fastcoin, not sure if it meets all of what you stated but it is fast.

Grin
KonstantinosM
Hero Member
*****
Offline Offline

Activity: 686


Personal Text?


View Profile
September 03, 2013, 09:24:06 PM
 #30

I decided to make a wallet for ripple, then I found out that it's closed source and controlled by a for profit corporation.

I don't think we can trust a single entity to give away every single coin in a system.

Ripple is shit. I'm mining New Bitcoin now, What we really need is an alt like New Bitcoin only about 64 times faster. Something like bitcoin only 256 times the blocks (still halving every 4 years) Transactions would confirm in 14-15 seconds and ripple would have no market.


Maybe ripple should be considered a scam. The whole system is dangerous and may collapse. I'm not willing to take such risks.


Sounds like Fastcoin, not sure if it meets all of what you stated but it is fast.

Thanks, I'll look it up.
Lauda
Legendary
*
Offline Offline

Activity: 1694


GUNBOT Licenses -20% with ref. code 'GrumpyKitty'


View Profile WWW
September 03, 2013, 09:26:52 PM
 #31

Fastcoin is bad and dying. Well theoretically this could be done if block times were reduced and block reward adjusted to have the same effects, but due to the amount of people using bitcoin, I don't know how it would affect it on a global scale. Even though it might be beneficial, but this is why it's not being done.
I would never trust something closed source.


          ▄▄█████▌▐█████▄▄
       ▄█████████▌    ▀▀▀███▄
     ▄███████████▌  ▄▄▄▄   ▀██▄
   ▄█████████████▌  ▀▄▄▀     ▀██▄
  ▐██████████████▌  ▄▄▄▄       ▀█▌
 ▐███████████████▌             ▀█▌
 ████████████████▌  ▀▀▀█         ██
▐████████████████▌  ▄▄▄▄         ██▌
▐████████████████▌  ▀  ▀         ██▌
 ████████████████▌  █▀▀█         ██
 ▐███████████████▌  ▀▀▀▀        ▄█▌
  ▐██████████████▌  ▀▀▀▀       ▄█▌
   ▀█████████████▌  ▀▀█▀     ▄██▀
     ▀███████████▌  ▀▀▀▀   ▄██▀
       ▀█████████▌    ▄▄▄███▀
          ▀▀█████▌▐█████▀▀
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
▬◉▬
      ▄▄▄
 ▄▄█████████▄▄
  ▀▀▀▀▀▀▀▀▀▀▀
   █▌▐█ █▌▐█
   █▌▐█ █▌▐█
 ▄███████████▄
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄






▄█████████████▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
███████████████
██▀▀█▀▀████████
▀█████████████▀
AmazonStuff
Hero Member
*****
Offline Offline

Activity: 610



View Profile
September 03, 2013, 09:41:17 PM
 #32

I decided to make a wallet for ripple, then I found out that it's closed source and controlled by a for profit corporation.

I don't think we can trust a single entity to give away every single coin in a system.

Ripple is shit. I'm mining New Bitcoin now, What we really need is an alt like New Bitcoin only about 64 times faster. Something like bitcoin only 256 times the blocks (still halving every 4 years) Transactions would confirm in 14-15 seconds and ripple would have no market.


Maybe ripple should be considered a scam. The whole system is dangerous and may collapse. I'm not willing to take such risks.

Ripple is not a scam, find one single person who got scammed by OpenCoin. It's already explained in this thread about Ripple not being open-source and pre-mined, so it would be nice to hear some arguments from both sides in order to make this discussion more constructive and not to repeat ourselves.
coinage
Member
**
Offline Offline

Activity: 60


View Profile
September 03, 2013, 10:01:06 PM
 #33

i logged into my ripple account the other only to find that all [but] 50 of my ripples had been transferred to another address, and there doesn't seem to be anything I can do about it, not good.
never had this problem with bitcoins, i wont be using ripple again

Of course, many have had losses just like that with all manner of e-wallets, including those for Bitcoin, when they used compromised computers/websites or inadequate security procedures.

So was your password short or nonrandom, as AmazonStuff mentioned, and what operating system/web browser setup were you using?  (Was it dedicated to financial tasks or also used for possibly risky web access?)

Your details might help others.  Maybe there's a flaw in the Ripple system, if you have any evidence of that.  More likely this was a browser/password issue which might threaten your Bitcoin holdings too.

The fact you can't do anything about the loss shows Ripple transactions are (so far) pretty irreversible -- one of the things many of us love about Bitcoin.

However, Ripple is at risk of losing that or any other feature unless and until OpenCoin lets multiple international entities co-manage the ledger.  They say that at that point, they would lose control of changes to the network (making improvements more difficult), and would have to vote on any changes with all ledger managers.


[Followup ~2 weeks later:  In another thread aggster said a "secure" password was used, but perhaps the computer is compromised with a keylogger.  For instance, from the posting history, it seems aggster has run literally dozens of altcoins.  Perhaps adequate precautions weren't taken when installing them.]
NWO
Sr. Member
****
Offline Offline

Activity: 392



View Profile
September 03, 2013, 11:03:06 PM
 #34

It will be hard for Ripple to gain traction in the BTC community as most of the people who were drawn here are Libertarians. 

Its just not the target audience. OC should see this and give up, look to China, look to the world.
mintedstone
Member
**
Offline Offline

Activity: 61



View Profile
September 03, 2013, 11:38:59 PM
 #35

Centralized, premined, and closed source. Shifts around debt rather than actual value. It would be completely dead if it wasn't leeching off bitcoin, like some sort of parasite.

Shame on you for supporting such shit.
I agree with you Hazard
QuantPlus
Sr. Member
****
Offline Offline

Activity: 280



View Profile
September 04, 2013, 01:45:38 AM
 #36

i logged into my ripple account the other only to find that all bu6t 50 of my ripples had been transferred to another address, and there doesn't seem to be anything I can do about it, not good.
never had this problem with bitcoins, i wont be using ripple again

There have been many "thefts" from Ripple accounts.

You will be told to open a Github "trouble ticket"...
Then, in the end, you will always be told you had a "weak password"...
And you will have absolutely no recourse.

Larger amounts of money are not safe on the Ripple network.
just_me
Sr. Member
****
Offline Offline

Activity: 420


Jesus Christ Saves Sinners


View Profile
September 04, 2013, 02:52:41 AM
 #37

Actually whoever invests in ripple now is making a huge mistake.


Who thought of the name 'ripple'?? I don't think this is a good name at all.

The cost of buying ripples is too high, considering how many are going to be in circulation. I see no reason to buy at such high prices.


Today is the day that the Lord has made, lets be glad and rejoice in it
AmazonStuff
Hero Member
*****
Offline Offline

Activity: 610



View Profile
September 04, 2013, 09:01:54 AM
 #38

Actually whoever invests in ripple now is making a huge mistake.
Who thought of the name 'ripple'?? I don't think this is a good name at all.
The cost of buying ripples is too high, considering how many are going to be in circulation. I see no reason to buy at such high prices.

100 billion XRP were created, it's estimated that 1.5 billion XRP are currently in circulation.
viboracecata
Legendary
*
Offline Offline

Activity: 1288



View Profile
September 04, 2013, 09:29:14 AM
 #39

Ripple need to open its source and prove it's fair.

AmazonStuff
Hero Member
*****
Offline Offline

Activity: 610



View Profile
September 04, 2013, 10:43:15 AM
 #40

Ripple need to open its source and prove it's fair.

My logic is that Ripple will be open-source when it's done, it's still in beta, but when it's done and open-source, it will gain some popularity, small investments will move the price rapidly, so I would be late for the status of early-adopter. I made my decision based on that, for me it's better to be a early adopter then to be late adopter. If you think it's better to wait it to become a open-source, then stick to your decision, we are all grown-up individuals and we are responsible for our decisions, future will prove who made better one's.
Pages: « 1 [2] 3 4 5 6 7 8 9 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!