Ripple: The Best Way To Legitimize Bitcoin

[PirateButtercup]

Ripple is simply amazing!!

If you don’t know, Ripple is actually 3 different things…

1. It is an internet protocol (like FTP, HTTP, etc.) designed for the sole purpose to federate existing financial systems the same way SMTP brought all the different email companies under one umbrella.

2. It is a market place that allows for the exchange and sale of fiat and crypto currencies. 

3. It is a currency created, not to hold value, but to lubricate the system. By charging .00001 XRP per transaction …. on a scale that proportionally increases to the volume of transactions the sender creates…..it prevents spam and defends against denial of service attacks.


Comparing fiat and crypto currencies to one another is similar to comparing different kinds of cars with different features. Dollars, Bitcoin, euros, litecoin, sterling….they all have something that make them stand out.

Ripple is VERY different. Ripple is the market place to buy and sell those cars and… more importantly .. the road on which they can faster than ever before!!!

I LOVE Bitcoin...that's why I'm using Ripple....I want to see Bitcoin succeed!!!!


(If you MUST have a conceptual comparison, try this: email meets bitcoin meets western union meets the forex)

[acheos12345]

I setup a ripple account a few weeks ago, since it seems reasonable.  I work next to a wells fargo, so it was pretty easy to get usd into their system.

[monbux]

I like bitcoins better.
If only I had went to their conference where they gave 50k FREE ripples...  That time it was only $500 USD lol...

[Abdi Shakur]

Totally agree ripple is awesome, The concept does take a bit of getting used to especially if you're new to CC.

I definitely believe it has a lot of potential, There is a lot of misunderstanding of Ripple atm and a lot of detractors who do believe the currency XRP is too centralised for their liking. I personally find the open sourced Ripple protocol and the decentralised echange a lot more interesting and if operated correctly is a game changer for Bitcoin and International finance.

I do believe it's a bit scattered at the moment with a lot users utilising it differently, somewhere users could communicate and form partnerships on or off Ripple would be great.

[nahtnam]

I like bitcoins better.
If only I had went to their conference where they gave 50k FREE ripples...  That time it was only $500 USD lol...

Isnt ripple centralized which just ruins the main point of bitcoin?

[PirateButtercup]

Actually, Ripple is not centralized. Far from it. It is a distributed data base on servers around the world that instantly registers transactions via consensus.

Check out the introductory videos on the YouTube links that I've posted. If you want more detailed information, do a quick search for the Ripple Wiki page.

http://www.youtube.com/watch?v=M16ZatXbmLg

http://www.youtube.com/watch?v=9zxA3Gt7y3c

Good stuff!!! :-D

[Mitchell]

Ripple is dead and has never lived. Just look at what TF could do with it. It's unreliable and not trustworthy.

[PirateButtercup]

Totally agree ripple is awesome, The concept does take a bit of getting used to especially if you're new to CC.

I definitely believe it has a lot of potential, There is a lot of misunderstanding of Ripple atm and a lot of detractors who do believe the currency XRP is too centralised for their liking. I personally find the open sourced Ripple protocol and the decentralised echange a lot more interesting and if operated correctly is a game changer for Bitcoin and International finance.

I do believe it's a bit scattered at the moment with a lot users utilising it differently, somewhere users could communicate and form partnerships on or off Ripple would be great.

I found a website called the Ripple Federation. I think it might be what your looking for.

http://ripplefederation.org

Lots of good stuff there :-)

[PirateButtercup]

Ripple is dead and has never lived. Just look at what TF could do with it. It's unreliable and not trustworthy.

Jeeze, dude...Ripple just went Open Source a little over a month ago....and has since gotten millions in venture capital backing from Google Venture, Andreessen Horowitz, et al. Ripple is adding hundreds of new accounts a day, have more than doubled the number of gateways, and volume has been steadily rising in every currency.

Perhaps you prefer being slave to bank fees and slow transaction times....I don't.

[Mitchell]

Ripple is dead and has never lived. Just look at what TF could do with it. It's unreliable and not trustworthy.

Jeeze, dude...Ripple just went Open Source a little over a month ago....and has since gotten millions in venture capital backing from Google Venture, Andreessen Horowitz, et al. Ripple is adding hundreds of new accounts a day, have more than doubled the number of gateways, and volume has been steadily rising in every currency.

Perhaps you prefer being slave to bank fees and slow transaction times....I don't.

I prefer security and if slow transactions (10 minutes ain't slow) and fee's (which is only 13 euro cents at the current market price) are required for that, I will take it with both hands. TradeFortress scammed a shitload of people with fake Ripple shit. Have fun with your insecure network.

[PirateButtercup]

Ripple is dead and has never lived. Just look at what TF could do with it. It's unreliable and not trustworthy.

Jeeze, dude...Ripple just went Open Source a little over a month ago....and has since gotten millions in venture capital backing from Google Venture, Andreessen Horowitz, et al. Ripple is adding hundreds of new accounts a day, have more than doubled the number of gateways, and volume has been steadily rising in every currency.

Perhaps you prefer being slave to bank fees and slow transaction times....I don't.

I prefer security and if slow transactions (10 minutes ain't slow) and fee's (which is only 13 euro cents at the current market price) are required for that, I will take it with both hands. TradeFortress scammed a shitload of people with fake Ripple shit. Have fun with your insecure network.

In POS ... point of sale... transactions ten minutes is a LIFETIME. Trying to do a 10 minute transaction at McDonalds or the supermarket is insane....the sliding credit card copier would be faster!! Bitcoin can only be mainstreamed if it has an expeditious delivery system like Ripple.

Exercising due diligence before depositing your money anywhere is common sense. You know, checking who they bank with, what licenses they have, etc. You don't just send money to the first business that contacts you from Nigeria with promises of wealth....that'd be retarded.

Federating all the existing financial systems under 1 umbrella is where we have to go next. Thus far, Ripple is the first, best and only solution.

[Aahzman]

I had 40K ripple. I tried to move it to my WeExchange account. It "got lost", and was never seen again, despite transaction confirmations and info.

[Mitchell]

You can always accept 0 confirmation transaction. Anyway, Bitcoin hasn't been created for small transaction, but that doesn't mean that it can't be used for it. You just have to wait a bit. Also, the dev's could make changes to the protocol to improve it.

You can't exploit the Bitcoin protocol like you can with Ripple. Normal people don't want to check stuff, it's way to complicated for them. They trust big networks (like TradeFortress had) and lose their money, because the stuff they got was worthless. (Thanks Aahzman, for proving my point).

A normal person can barely grasp Bitcoin and Ripple is even harder then that.

[deepceleron]

The only people talking about Ripple are people from ripplecorp public relations and legal obfuscation offshore holding incorporated, and those who's support was bought with a few million of the 100% premined ponzi coins. Yes, I said it, this really is a cryptocurrency Ponzi. They are not above slandering Bitcoin in front of congress worse than FinCEN themselves did for their own benefit.

[PirateButtercup]

I had 40K ripple. I tried to move it to my WeExchange account. It "got lost", and was never seen again, despite transaction confirmations and info.

Obviously, I'm a noob on this forum. I'm not trying an ad hominem attack, but....why do they have SCAMMER written under your username?

[PirateButtercup]

You can always accept 0 confirmation transaction. Anyway, Bitcoin hasn't been created for small transaction, but that doesn't mean that it can't be used for it. You just have to wait a bit. Also, the dev's could make changes to the protocol to improve it.

You can't exploit the Bitcoin protocol like you can with Ripple. Normal people don't want to check stuff, it's way to complicated for them. They trust big networks (like TradeFortress had) and lose their money, because the stuff they got was worthless. (Thanks Aahzman, for proving my point).

A normal person can barely grasp Bitcoin and Ripple is even harder then that.

I'm with ya'!! Normal people don't wanna check stuff. With brick and mortar banks and physical stock certificates, it was much easier. Unfortunately, in a blossoming new sector like this, you can't accept just anyone as being a Ripple gateway.

I've heard many comparisons of Bitcoin to gold....and that's exactly how I view it. I LIKE the fact that it takes 10 minutes. It gives Bitcoin gravitas.

I hope Ripple Labs uses the moola that they just got in a vetted competition for venture capital to narrow the learning curve of Ripple for people....because, you're right, it is a bit daunting. Hell, it took me a over a week and a group of 4 friends to conceptualize it.

The easiest way to understand the Ripple system is to think of it as a checking account. You deposit money in a bank (Gateway)...they give you a bunch of IOUs (checks). You can have a check made out in advance for a friend at $10 (create a 'trustline' of $10)....and he can pass it along to whoever he wants (Fill in the Pay To The Order Of). When it gets back to the bank (Gateway) it is redeemed for currency. ....

Unlike banks though, it can be done instantly, to anyone, anywhere, at anytime, in any currency without those DAMN fees that the bank keeps charging me!! XRP is merely the container/envelope/postage stamp for that service. It's function is to prevent morons from overwhelming the system with b.s. transactions. XRP is not an investment. It's a tool.

THAT is cool! :-)

[riddick]

As for me, ripple is the most interesting CC at the moment. They pay XRP for good things like BOINC contribution at worldcommunitygrid.org (not just for wasting electric energy), so I will support them as long as I can.

[velosipedist]

As for me, ripple is the most interesting CC at the moment. They pay XRP for good things like BOINC contribution at worldcommunitygrid.org (not just for wasting electric energy), so I will support them as long as I can.

Currency shouldn't have any purpose except to be currency. Bitcoin is the best because it spend more electricity purposelessly
   

[Abdi Shakur]

I'm with ya'!! Normal people don't wanna check stuff. With brick and mortar banks and physical stock certificates, it was much easier. Unfortunately, in a blossoming new sector like this, you can't accept just anyone as being a Ripple gateway.

I've heard many comparisons of Bitcoin to gold....and that's exactly how I view it. I LIKE the fact that it takes 10 minutes. It gives Bitcoin gravitas.

I hope Ripple Labs uses the moola that they just got in a vetted competition for venture capital to narrow the learning curve of Ripple for people....because, you're right, it is a bit daunting. Hell, it took me a over a week and a group of 4 friends to conceptualize it.

The easiest way to understand the Ripple system is to think of it as a checking account. You deposit money in a bank (Gateway)...they give you a bunch of IOUs (checks). You can have a check made out in advance for a friend at $10 (create a 'trustline' of $10)....and he can pass it along to whoever he wants (Fill in the Pay To The Order Of). When it gets back to the bank (Gateway) it is redeemed for currency. ....

Unlike banks though, it can be done instantly, to anyone, anywhere, at anytime, in any currency without those DAMN fees that the bank keeps charging me!! XRP is merely the container/envelope/postage stamp for that service. It's function is to prevent morons from overwhelming the system with b.s. transactions. XRP is not an investment. It's a tool.

THAT is cool! :-)

Very good explanation It definitely does take time for people to fully conceptualise it, I think ripple labs are on the right track
with their  Ripple Primer white paper but a variety of resources is required as people
have differing learning techniques.

[led_lcd]

I like the idea in ripple but how do you use it exactly with bitcoin? Do you have some real life examples where you have used it and it was easier to use than via 'normal' banks?