Ripple competition

[mmeijeri]

Ripple itself is a distributed P2P exchange. It doesn't have a lot of liquidity yet, but it is a bona fide distributed exchange. That addresses one of the greatest weaknesses of the bitcoin ecosystem. But it *helps* Bitcoin in that respect, because it allows you to trade between bitcoin and any other currency.

Actually, when I checked it the other day, it did appear to have plenty of liquidity. The reason it doesn't look that way is because most of the liquidity is against XRP. If I understand things correctly, Ripple will synthesise a virtual order book from order books in various currency pairs. If the order books in A/B and B/C allow a conversion A -> B -> C at a better price than the order book in A/C, Ripple will choose that route. The standard web client appears not to show such virtual entries though, making it look as if there is hardly any liquidity when in fact there's plenty. Usually B=XRP, since it is the only currency that doesn't require IOUs and therefore doesn't have counterparty risk (and / or identification issues).

[1714674709]

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[Come-from-Beyond]

Nxt will be launched soon. With its decentralized exchange it allows to create gateways like Ripple.

[mmeijeri]

The more the merrier!

[bitcoinBull]

Nxt will be launched soon. With its decentralized exchange it allows to create gateways like Ripple.

So there's Nxt, MasterCoin, BitShares (or is it ProtoShares?), eMunie, Open Transactions, all of which are supposedly going to be launched/released soon (any others?). It is very easy to market vaporware - just claim that your product has feature X, and it does. Since its just vaporware it can have all the best features before it even exists.

Ripple, on the other hand, actually exists and already has one major gateway (kraken next in line) and two chinese gateways (with rising CNY capitalization btw, up from 250k CNY in october to 539k CNY on Nov 12th to 787k CNY today).

The competition hasn't even left the starting line.

[N12]

Which chinese gateways?

[Come-from-Beyond]

Nxt will be launched soon. With its decentralized exchange it allows to create gateways like Ripple.

So there's Nxt, MasterCoin, BitShares (or is it ProtoShares?), eMunie, Open Transactions, all of which are supposedly going to be launched/released soon (any others?). It is very easy to market vaporware - just claim that your product has feature X, and it does. Since its just vaporware it can have all the best features before it even exists.

Ripple, on the other hand, actually exists and already has one major gateway (kraken next in line) and two chinese gateways (with rising CNY capitalization btw, up from 250k CNY in october to 539k CNY on Nov 12th to 787k CNY today).

The competition hasn't even left the starting line.

Nxt does exist.

[bitcoinBull]

Nxt will be launched soon. With its decentralized exchange it allows to create gateways like Ripple.

So there's Nxt, MasterCoin, BitShares (or is it ProtoShares?), eMunie, Open Transactions, all of which are supposedly going to be launched/released soon (any others?). It is very easy to market vaporware - just claim that your product has feature X, and it does. Since its just vaporware it can have all the best features before it even exists.

Ripple, on the other hand, actually exists and already has one major gateway (kraken next in line) and two chinese gateways (with rising CNY capitalization btw, up from 250k CNY in october to 539k CNY on Nov 12th to 787k CNY today).

The competition hasn't even left the starting line.

Nxt does exist.

I mean exist as an actual product that people can use. That's more like a concept mock-up. Colored Coins did that two years ago. Where is colored coins now? Well, the original client developer, Stefan Thomas, moved on to become Ripple CTO.

[bitcoinBull]

Which chinese gateways?

www.rippleChina.net and www.rippleCN.com

CAP CNY=758,839.436021163: ripplechina=312,254.8584452073 ripplecn=446,584.5775759557

[rfugger]

So there's Nxt, MasterCoin, BitShares (or is it ProtoShares?), eMunie, Open Transactions, all of which are supposedly going to be launched/released soon (any others?). It is very easy to market vaporware - just claim that your product has feature X, and it does. Since its just vaporware it can have all the best features before it even exists.

Ripple, on the other hand, actually exists and already has one major gateway (kraken next in line) and two chinese gateways (with rising CNY capitalization btw, up from 250k CNY in october to 539k CNY on Nov 12th to 787k CNY today).

The competition hasn't even left the starting line.

If anyone wants to implement my original 2-phase-commit/non-blockchain Ripple protocol design, it's here:

http://archive.ripple-project.org/Protocol/Protocol

It's only based on IOUs and routing through a mutual credit network -- no trustless cryptocurrency involved.  And you'd need to give it a different name, of course

[Come-from-Beyond]

Nxt will be launched soon. With its decentralized exchange it allows to create gateways like Ripple.

So there's Nxt, MasterCoin, BitShares (or is it ProtoShares?), eMunie, Open Transactions, all of which are supposedly going to be launched/released soon (any others?). It is very easy to market vaporware - just claim that your product has feature X, and it does. Since its just vaporware it can have all the best features before it even exists.

Ripple, on the other hand, actually exists and already has one major gateway (kraken next in line) and two chinese gateways (with rising CNY capitalization btw, up from 250k CNY in october to 539k CNY on Nov 12th to 787k CNY today).

The competition hasn't even left the starting line.

Nxt does exist.

I mean exist as an actual product that people can use. That's more like a concept mock-up. Colored Coins did that two years ago. Where is colored coins now? Well, the original client developer, Stefan Thomas, moved on to become Ripple CTO.

Nxt is launched in a couple of days. I'll come here later to post when people will be using it.

[GigaCoin]

This. Ripple like fiat is a scam. People might fail to comprehend this though (they do with fiat) ...

Why people should care if XRP is "premined" ? Why everything should follow Bitcoin step by step ?

Mining is the way Bitcoin distribute coins, Ripple chose a different distribution scheme. It's not a scam, it's only a difference. Everything that is different than Bitcoin's blueprint is not a scam.


People only care what is the most useful. If Ripple is most useful than Bitcoin people will use it and won't give a fuck about those bullshit premined concerns.

Actually a company having the power to exclusively pre-mine a currency and then "lend it" to people is a indeed a big problem, it solves NOTHING and only creates another debt-based economy and only benefits the very few who own ripple.

Ripple just fuels to cycle of crony capitalism (which is why banks are loving it). Bitcoin on the other hand creates real free markets where you actually own your money/savings and every individual has a chance to prosper, depending on how much risk and work each individual decides to take.

[voyagr]

This. Ripple like fiat is a scam. People might fail to comprehend this though (they do with fiat) ...

Why people should care if XRP is "premined" ? Why everything should follow Bitcoin step by step ?

Mining is the way Bitcoin distribute coins, Ripple chose a different distribution scheme. It's not a scam, it's only a difference. Everything that is different than Bitcoin's blueprint is not a scam.


People only care what is the most useful. If Ripple is most useful than Bitcoin people will use it and won't give a fuck about those bullshit premined concerns.

Actually a company having the power to exclusively pre-mine a currency and then "lend it" to people is a indeed a big problem, it solves NOTHING and only creates another debt-based economy and only benefits the very few who own ripple.

Ripple just fuels to cycle of crony capitalism (which is why banks are loving it). Bitcoin on the other hand creates real free markets where you actually own your money/savings and every individual has a chance to prosper, depending on how much risk and work each individual decides to take.

I do not understand why people are so much focused on the pre-mined xrp's, especially when a proportion of BTC itself was pre-mined too. Actually Ripple IS solving the problem of double spending trough consensus which is way faster and convenient then BTC's PoW.

If you strongly believe it benefits the very few who owns them, why don't you buy these cheap coins. BTC's were not for free either, people do forget this, with mining you spend your time, expensive hardware, electricity...

Let's say you are a hardcore miner, then I'd suggest you to have a look at https://www.ripplelabs-wcgxrp.com/ . In stead of wasting computer power, this way you contribute to science and get xrp's.

If for any reason, you do not want the gateway specific currency (xrp), you still can use the gateway which is not in any case a competitor to BTC. Its main goal is to accelerate the money transactions and for free, including BTC.  

Most people do not know what Ripple and xrp is. If you are interested, check these documents:

https://ripple.com/ripple_primer.pdf
https://ripple.com/ripple-gateways.pdf
  
    

[Coinseeker]

Actually a company having the power to exclusively pre-mine a currency and then "lend it" to people is a indeed a big problem, it solves NOTHING and only creates another debt-based economy and only benefits the very few who own ripple.

Ripple just fuels to cycle of crony capitalism (which is why banks are loving it). Bitcoin on the other hand creates real free markets where you actually own your money/savings and every individual has a chance to prosper, depending on how much risk and work each individual decides to take.

Ripple and XRP for that matter, is actually NOTHING like our current "debt based" system.  In order to have a "debt based" system, the currency would have to be created using...wait for it...debt.  USD for instance, enters the monetary system as debt.  No such debt exists in Ripple, as it relates to XRP, thus XRP is an asset on the balance sheet of anyone who holds it.  Which in turn means the rest of your rant is poo poo.    

Banks love it because it's a payment network that is leaps and bounds ahead of Bitcoin and certainly their own.  Ripple is also not just a single currency like Bitcoin, which by itself does little to solve our monetary problems, other than allowing people to bypass government fiat.  It still leaves the current system intact.  Regulators like Ripple because it's designed to be transparent, so tracking transactions is significantly easier.  

Typically, the only people intimidated by Ripple, are those who don't understand Ripple and often only care about the value of their Bitcoin being negatively affected, not the bigger picture of solving our global monetary challenges.  I personally think Ripple is going to have a positive effect on BTC values by allowing off blockchain transactions in mass, but when it comes down to it, who really cares what you think?  

[voyagr]

Actually a company having the power to exclusively pre-mine a currency and then "lend it" to people is a indeed a big problem, it solves NOTHING and only creates another debt-based economy and only benefits the very few who own ripple.

Ripple just fuels to cycle of crony capitalism (which is why banks are loving it). Bitcoin on the other hand creates real free markets where you actually own your money/savings and every individual has a chance to prosper, depending on how much risk and work each individual decides to take.

Ripple and XRP for that matter, is actually NOTHING like our current "debt based" system.  In order to have a "debt based" system, the currency would have to be created using...wait for it...debt.  USD for instance, enters the monetary system as debt.  No such debt exists in Ripple, as it relates to XRP, thus XRP is an asset on the balance sheet of anyone who holds it.  Which in turn means the rest of your rant is poo poo.    

Banks love it because it's a payment network that is leaps and bounds ahead of Bitcoin and certainly their own.  Ripple is also not just a single currency like Bitcoin, which by itself does little to solve our monetary problems, other than allowing people to bypass government fiat.  It still leaves the current system intact.  Regulators like Ripple because it's designed to be transparent, so tracking transactions is significantly easier.

Typically, the only people intimidated by Ripple, are those who don't understand Ripple and often only care about the value of their Bitcoin being negatively affected, not the bigger picture of solving our global monetary challenges.  I personally think Ripple is going to have a positive effect on BTC values by allowing off blockchain transactions in mass, but when it comes down to it, who really cares what you think?  

A myth about BTC is that it is untraceable and being anonymous. It might have been but as BTC is coming closer and closer to the mass, it is getting more and more traceable. Nowadays every exchange system demands accounts to be verified. See also: http://bitcoin.org/en/faq#is-bitcoin-anonymous or to summarize

The use of Bitcoin leaves extensive public records.

[BldSwtTrs]

Something I don't understand with Ripple:

When I log in my Ripple wallet I have 44,000 XRP. But when I try to make a deposit with Ripple at Bitstamp or Justcoin my balance show only 1,000 XRP and I can only deposit this 1,000 XRP. Why ?

[voyagr]

Something I don't understand with Ripple:

When I log in my Ripple wallet I have 44,000 XRP. But when I try to make a deposit with Ripple at Bitstamp or Justcoin my balance show only 1,000 XRP and I can only deposit this 1,000 XRP. Why ?

I'm not sure I understood your question but could it be the trust line?

[BldSwtTrs]

Something I don't understand with Ripple:

When I log in my Ripple wallet I have 44,000 XRP. But when I try to make a deposit with Ripple at Bitstamp or Justcoin my balance show only 1,000 XRP and I can only deposit this 1,000 XRP. Why ?

I'm not sure I understood your question but could it be the trust line?

It could very well be that because I have no idea what is the trust line. What it is ?

And what should I do to be able to deposit my 44,000 XRP at Bitstamp ?

[Coinseeker]

Something I don't understand with Ripple:

When I log in my Ripple wallet I have 44,000 XRP. But when I try to make a deposit with Ripple at Bitstamp or Justcoin my balance show only 1,000 XRP and I can only deposit this 1,000 XRP. Why ?

I'm not sure I understood your question but could it be the trust line?

It could very well be that because I have no idea what is the trust line. What it is ?

And what should I do to be able to deposit my 44,000 XRP at Bitstamp ?

XRP doesn't require any trust lines.  That's one of the things that makes it special within the network.  Bitstamp doesn't allow XRP deposits and honestly why would you?  Storing your XRP in your Ripple wallet is how you store it, without counter-party risk.  If you want to sell or buy XRP, you simply need go to the trade section of the client and change your issuer to Bitstamp or whomever you choose, for the specific currency pairs you're interested in.  That will give you access to their orderbook.

[Okurkabinladin]

Nxt will be launched soon. With its decentralized exchange it allows to create gateways like Ripple.

Why do you keep spamming thread of completely unrelated product? I´d wish for you to find less annoying ways of propagating your work.

[Come-from-Beyond]

Why do you keep spamming thread of completely unrelated product?

To show better alternative.