[ANN] Ripple is officially open-source! w/link

[tokeweed]

Powercoin fork incoming  

EDIT: For sale - ripplelabs.net and ripplelabs.org (contact me to express interest).

just quoting NWO.  i am not in anyway trying to help him sell those domains. i quoted it for everyone to see.

[NWO]

Powercoin fork incoming  

EDIT: For sale - ripplelabs.net and ripplelabs.org (contact me to express interest).

just quoting NWO.  i am not in anyway trying to help him sell those domains. i quoted it for everyone to see.

A quote within a quote. I guess thank you for the second page promotion?

[tokeweed]

Powercoin fork incoming  

EDIT: For sale - ripplelabs.net and ripplelabs.org (contact me to express interest).

just quoting NWO.  i am not in anyway trying to help him sell those domains. i quoted it for everyone to see.

A quote within a quote. I guess thank you for the second page promotion?

no problem.

[lophie]

nice. Now lets see a fork with a better idea than 100% pre mined. I would be interested in that.

[NWO]

nice. Now lets see a fork with a better idea than 100% pre mined. I would be interested in that.

It's coming 

[Ares]

nice. Now lets see a fork with a better idea than 100% pre mined. I would be interested in that.

this

[digitalindustry]

Good to see , yeah will be intersted in seeing a simplfied community based version of ripple in the future .

If thats not possible , probably scrap the idea , im sure some people will always hang on but.

Keep he faith .

: D

[bob131313]

That's awesome news. 3000 xrp/btc in 15 days my prediction.

Very possible in this irrational crypto world. This is a world where MCXFees are trading on par with BTC.  I would assume that XRP will gain value even though it is worthless.

[tokeweed]

nice. Now lets see a fork with a better idea than 100% pre mined. I would be interested in that.

It's coming 

yup. let's see what people can cook up with with the technology.  either way, everyone wins.

[mah87]

nice. Now lets see a fork with a better idea than 100% pre mined. I would be interested in that.

There is no mining or premining in ripple network. I don't understand why people still don't get it.

For sure some ideas will emerged from the work OpenCoin have done but going as far as OpenCoin is with seems difficult...

[nameface]

[Post] Ripple's Big Day: Code Is Open Sourced, OpenCoin Change Their Name - http://ripplefederation.org/news/ripple-s-big-day-code-is-open-sourced-opencoin-change-their-name

[tokeweed]

nice. Now lets see a fork with a better idea than 100% pre mined. I would be interested in that.

There is no mining or premining in ripple network. I don't understand why people still don't get it.

For sure some ideas will emerged from the work OpenCoin have done but going as far as OpenCoin is with seems difficult...

nono. anyone can try.  that's the reason the code is open source.

[mah87]

nice. Now lets see a fork with a better idea than 100% pre mined. I would be interested in that.

There is no mining or premining in ripple network. I don't understand why people still don't get it.

For sure some ideas will emerged from the work OpenCoin have done but going as far as OpenCoin is with seems difficult...

nono. anyone can try.  that's the reason the code is open source.

Of course. But i'm curious to see those people claiming things better than ripple will appear in no time ...

[tokeweed]

nice. Now lets see a fork with a better idea than 100% pre mined. I would be interested in that.

There is no mining or premining in ripple network. I don't understand why people still don't get it.

For sure some ideas will emerged from the work OpenCoin have done but going as far as OpenCoin is with seems difficult...

nono. anyone can try.  that's the reason the code is open source.

Of course. But i'm curious to see those people claiming things better than ripple will appear in no time ...

that's the idea.  they can try.  if you saw bibbit's post you can understand where i'm getting at.  ripple ain't bitcoin. sure, ripple needs the community, but there's more it needs.  way more. and i don't think a group of coders can deliver what ripplelabs is planning to deliver.

[superduh]

nice. Now lets see a fork with a better idea than 100% pre mined. I would be interested in that.

There is no mining or premining in ripple network. I don't understand why people still don't get it.

For sure some ideas will emerged from the work OpenCoin have done but going as far as OpenCoin is with seems difficult...

the XRP that power the protocol are premined. that's just a fact. i don't know enough about the protocol or ripples to have a more educated statement then that.

[number37]

Interesting move, will see how it goes after it becomes open source

[aa]

I don't see how this makes any difference to Ripple itself. I can easily see someone using the source and actually making a non-scam success out of it.

[HostFat]

Which exchanger will be the next big gateway?

- BTC-e
- mcxNOW
- Mtgox ...

[🏰 TradeFortress 🏰]

Which exchanger will be the next big gateway?

- BTC-e
- mcxNOW
- Mtgox ...

None because they know it's a bad idea to support Ripple.

Myth: Ripple is decentralized, or open sourcing Ripple will make it decentralized

Ripple was designed around centralization. The network consensus is built upon trust because they're Ripple Labs and they said so, instead of trust because of proof of work or expense of computational power like Bitcoin. The currency is built upon because gateways said so, instead of cryptographic proof or the decentralized mining process. Don't forget all XRPs (Ripples) were premined - all 100 billion of them. Ripple calculates their market capitalization with all 100 billion XRPs, despite the fact that the vast majority are not in circulation.

How would you kill a decentralized internet currency? By making a centralized one, complete with infinite money printing via gateways, where you don't have control of your money (gateways can arbitrarily levy fees on your transfers of IOUs) and much much more.

Before you buy into the 'promises' of Ripple, learn about what Ripple actually is. It's distributed, like having load balancers. It's not decentralized by any stretch of the word, and open sourcing code that forces centralization does not mean anything.

Yeah, the main problem I see with Ripple is that it's probably a lot more centralized than it appears, even ignoring the issues with XRP distribution and source availability.

AFAICT, Ripple requires that your UNL:
- Contain entities that won't cooperate to defraud you.
- Contain entities that themselves have good UNLs, and the entities in their UNLs must have good UNLs, etc.
- Form a "good network". A UNL containing just your friends wouldn't form a good network because you wouldn't be linked well-enough to the rest of Ripple. Your section of the network might get into a situation where its idea of history will never converge with the rest of the network's idea of history.

As a result, I believe that Ripple can really only be used reliably and securely if everyone has pretty much the same UNL. It's probably OK to remove or add a handful of nodes to your UNL, but at least a big portion of it probably needs to remain the same between users. So this ends up being a distributed system, but not a decentralized one. Whoever decides who's on the canonical UNL has a lot of power over the network. Also, people generally can't be "full nodes" in Ripple and participate in the consensus process because full nodes need to be online all the time and in someone's UNL.

Despite this, I wouldn't be surprised to see Ripple grow over the next few years. A lot of people think that it's decentralized and safe, and if they use the default centralized Ripple configuration it probably will be safe and stable in the short-term, and it'll be a lot cheaper to transact using Ripple than with Bitcoin. But it won't actually be as decentralized or as robust as Bitcoin, and legal issues may bring the whole thing down eventually.

[HostFat]

None because they know it's a bad idea to support Ripple.

Your words, not their

Ripple was designed around centralization. The network consensus is built upon trust because they're Ripple Labs and they said so

It's built on the majority of gateways, as it is about majority of nodes/miners on Bitcoin.

instead of trust because of proof of work or expense of computational power like Bitcoin.
The currency is built upon because gateways said so, instead of cryptographic proof or the decentralized mining process

Here you trust the majority of miners, instead of the majority of gateways.

Don't forget all XRPs (Ripples) were premined - all 100 billion of them. Ripple calculates their market capitalization with all 100 billion XRPs, despite the fact that the vast majority are not in circulation.

Everyone is free to use Ripple as a payment/exchange service instead of a currency. Ripple isn't advertised as a currency.

How would you kill a decentralized internet currency? By making a centralized one

LOL
It's not centralized as much is Bitcoin for the trust needed for all his parts.
Is Bitcoin so fragile that can be killed from the free market? Who here is against the free market?

complete with infinite money printing via gateways, where you don't have control of your money (gateways can arbitrarily levy fees on your transfers of IOUs) and much much more.

It's the same trust that you give to exchanger now. BTC-e/Bitstamp/other can just steal all your money in few seconds.


I own Bitcoin.