RippleScam.org- If people truly knows what Ripple is, nobody would use it.

[🏰 TradeFortress 🏰]

Check out the new, re-written RippleScam.org

http://ripplescam.org/

[Sukrim]

Cute, though it reads like being written by someone who does not understand when one holds assets and when IOUs. Especially the example with mtgox getting in trouble and then acting as if btc were unaffected or safe there is completely wrong. Your balance on there is pure debt which bitcoinica customers can easily tell you more about.

Also there is no real need to keep huge IOU balances in ripple, one could send btc there on demand.

Also the validator list is not hardcoded into the client (you can check its open source code for that) especially since ripple clients don't care about validators at all.
Once the server code is publicly released, it will be trivial for anyone to create alternate ledger chains - as with bitcoin vs altcoins however, don't expect then to gain much traction.

[digitalindustry]

Check out the new, re-written RippleScam.org

http://ripplescam.org/

Well put together site.

[🏰 TradeFortress 🏰]

Cute, though it reads like being written by someone who does not understand when one holds assets and when IOUs. Especially the example with mtgox getting in trouble and then acting as if btc were unaffected or safe there is completely wrong. Your balance on there is pure debt which bitcoinica customers can easily tell you more about.

If you want to hold BTC in Ripple you must hold IOU tokens. It's not possible to hold BTC backed by a OP_SIG in ripple.

Also the validator list is not hardcoded into the client (you can check its open source code for that) especially since ripple clients don't care about validators at all.
Once the server code is publicly released, it will be trivial for anyone to create alternate ledger chains - as with bitcoin vs altcoins however, don't expect then to gain much traction.

Yes it is, just like how Bitcoin hard codes some DNSSeed IPs. The difference is the dnsseeds tell you about pretty much every node.

The point is that Ripple is not decentralized, not about alt coins. But remember Tenebrix? It was the first Scrypt alt coin iirc, it was premined, so Litecoin was formed that's 1:1 to Tenebrix except without the premine.

[NWO]

But nobody does use it? See the trade volume and forum activity   

[guugll]

its simple nobody likes debts and creating a debt coin because i need to get money from people using this coin is sick - but its the reality in real life.
most of the crypto coins are here to prevent that there will be people adding more and more fees and other hidden payments into the monetary system in order to steal from the poor - that is sick to but also reality.
well anyway the banksters will not give up so easilly... so we need to count with more and more banksters involvment into crypto stuff - they will soon get the fact that from technical point of view its the future...

sorry for my bad english :-(

[🏰 TradeFortress 🏰]

But nobody does use it? See the trade volume and forum activity  

Lol.

"In total there are 5 users online :: 2 registered, 0 hidden and 3 guests (based on users active over the past 5 minutes)"

[QuantPlus]

But nobody does use it? See the trade volume and forum activity   

The Ripple Forum is a Ghost Town.

[DumbFruit]

I didn't know about charging interest and sending it to Gateways. That's pretty silly.

One should take pause at the idea that Gateway's aren't forced into the risk of being a Liquidity Provider, but the lowly Peons in the system don't get any such protection.

Of course JoelKatz will dive and say, "A Gateway could choose to be a Liquidity Provider as well.", but that doesn't answer the question, "Why aren't Gateway's Liquidity Providers by default, like users are?"

The answer is because the problems that plague Liquidity Providers are grossly obvious when the Liquidity Provider is a Gateway, but the problems still exist less obviously among the user-base.

[Hazard]

The point is that Ripple is not decentralized, not about alt coins. But remember Tenebrix? It was the first Scrypt alt coin iirc, it was premined, so Litecoin was formed that's 1:1 to Tenebrix except without the premine.

Fairbrix was the first version of Tenebrix without the premine.

Litecoin was just another pathetic copy that happened to have a good name, and took off because of it.

[hasle2]

Great work, I cringe every time I see someone talking about trading ripple as if it makes sense.

[QuantPlus]

I didn't know about charging interest and sending it to Gateways. That's pretty silly.

One should take pause at the idea that Gateway's aren't forced into the risk of being a Liquidity Provider, but the lowly Peons in the system don't get any such protection.

Of course JoelKatz will dive and say, "A Gateway could choose to be a Liquidity Provider as well.", but that doesn't answer the question, "Why aren't Gateway's Liquidity Providers by default, like users are?"

The answer is because the problems that plague Liquidity Providers are grossly obvious when the Liquidity Provider is a Gateway, but the problems still exist less obviously among the user-base.

To understand a scaled-up Ripple...
You have to understand that XRP is a Liquidity Provider currency...
And in a billion $$$ network all the lucrative transactions would go thru XRP...

Like if you wanna buy a AK47 with British Pounds:

British Pounds >> XRP >> Russian Rubles >> AK47 = Happy Customer

So all Liquidity Providers will have to own LOTS (millions) of XRP...
In order to capture those FAT spreads and transit fees...
And guess who has all the XRP = Jed.

OpenCoin wants freelance Market Makers to come in and ramp up the Network...
And freelance Gateways to take ALL of the Regualtory risk...
TO  TAKE  ALL  THE  FREAKING  RISK...
Then once it's ramped up with lots of transactions...
OpenCoin will change the rules and push out the original Gateways and Market Makers...
And just take over the whole fucking network.

I have ZERO trust in OpenCoin... or what they say... or their idiot Zombie Apologists...
The whole operation is ruthless Mook Skinner.

[Atruk]

Check out the new, re-written RippleScam.org

http://ripplescam.org/

Really liking the update, it looks like a much quicker read than the original while emphasizing the substance of Ripple.

[bitcoinBull]

Your argument reads like this:

Bitcoin is centralized because everyone must be on the same blockchain. Bitcoins are artificially printed tokens that claim to be money. Bitcoin claims to be distributed but it is not. It is claimed that you can run your own node and verify transactions. But truth is that you cannot: only powerful miners and the big three mining pools control the network, because they are the only nodes which have enough hashing power to actually add new blocks. Secondly, the proof-of-work system ensures that there is only one blockchain - the most common one. In practice, it is not possible to mine your own bitcoins and dethrone Satoshi and the big mining pools, because you have to be on their blockchain!

Also, you have to pay fees to buy bitcoins. If you buy through bitInstant, you pay a 3% fee! If you want to buy or sell on mtgox, its a 0.6% fee!

And so on...

[DumbFruit]

OpenCoin will change the rules and push out the original Gateways and Market Makers...
And just take over the whole fucking network.

What are the "original Gateways and Market Makers"?

[Sakuro]

Check out the new, re-written RippleScam.org

http://ripplescam.org/

I agree on most points.
Good work!

[NWO]

But nobody does use it? See the trade volume and forum activity   

The Ripple Forum is a Ghost Town.

My point exactly. It has had nearly a year to build momentum and it has really fallen flat. I'm predicting a wave of Ripple clones when the OS is released without the premine and everything else that made Ripple crap.

Although don't hold your breathe, I still believe everyone jumped the gun on this. 

[Pumpkin]

Check out the new, re-written RippleScam.org

http://ripplescam.org/

Congratulations on a great site and great work educating people! I bow to you!

[NWO]

But nobody does use it? See the trade volume and forum activity  

Lol.

"In total there are 5 users online :: 2 registered, 0 hidden and 3 guests (based on users active over the past 5 minutes)"

And that is on a good day when it gets hyped on this forum!

[NWO]

Saving some poor sucker from a bad financial decision.