Worried about Mt Gox? What does this price fall mean for BTC and its clones?

[bomb7]

I have tried ripple and found it a huge pain in the ass.

What's needed is a decentralized exchange. Someone mentioned NXT's exchange. Also, Countrparty (XCP) already has one functioning, they just need a user-friendly client. I guess Mastercoin will also have one but who knows when.

I have XRP but I'm not trying to pump it because I actually don't like using it.

[TheWhale]

Nxt is making a true decentralised p2p exchange.

Ripple is centralised through few ledgers. Ledger owners can make a cartel and scam people.

Like Sukrim said. You have no idea what you are talking about. Therefore you do not warrant a proper reply.

PS. I love that cartel action on those Nxt price rises 

[TheWhale]

the price fall means its a free market.  Not a centralized market that is controller by a few insiders.  I do not want a central bank crypto.  I want to make my own choices.  Ripple is a scam because it makes me put my faith in a few people who control it.  Even if they are honest they can be replaced by more corrupt people with their own agenda.  So screw ripple's system.  It is inherently flawed.

This is another argument I laugh at and should include into my OP.


You do realize that those accounts at the top manipulate the Bitcoin prices? You do realize that the Winki Twins alone have around 1% of ALL BTC's? You do realize that the US GOVERNMENT has the SECOND biggest Bitcoin wallet after Satoshi? What do you think they could do any moment?

Bitcoin is run by Whales looking to get richer. Freedom is just an illusion and your ignorance has demonstrated that perfectly in front of everyone. At least I know who is behind Ripple and that they have an incentive to make it a success. We don't have some government entity that holds a majority of XRP, looking to destroy the network.  

Citation needed.  I have proof of ripple's centralized control as it is part of the architecture.  It was designed that way.  All you have is speculation and conjecture.  Keep spreading FUD because that is all you have.

This is a much sadder situation than first thought. Not only are you oblivious to basic facts about Bitcoin, you dismiss any criticism. Did you even learn what you were investing into? From THREE basic Google searches, I found articles that back up EVERY point. Because they are all well-known facts and I am well educated in Bitcoin politics.

Winkle Twins 1% http://www.businessinsider.com.au/the-winklevoss-twins-bitcoins-2013-4

The US Government's HUGE stake in Bitcoin http://www.wired.com/wiredenterprise/2013/12/fbi_wallet/

Bitcoin price manipulation http://blog.p2pfoundation.net/how-the-bitcoin-1-manipulate-the-currency-deceive-its-user-community-and-make-its-future-uncertain/2013/06/30


Now where are your citations? Because from my knowledge, you can run your own Rippled. So actually YOU are the one looking to spread FUD.

[caratheodory]

Nope. Just something a majority of people are missing out on. I'm personally sick of waiting sometimes over an hour for a Bitcoin transaction every time I go outside of the Ripple protocol. Everything is so much quicker and easier in there. Instant transactions and it is FREE. My wallet holds XRP, BTC, LTC, USD, shares etc. Wow! Not just the one currency. I only experience the reality when I transfer my Bitcoin using Bitcoin bridge (where you replace a Ripple address with a Bitcoin address) and it sends the Bitcoin outside of the network.

I feel sorry for those of you who do not open their eyes and continue to live in the stone age with your long confirmation times, fees, centralized exchanges etc - so little freedom. I can instantly turn my BTC into ANY currency/ commodity (being crypto, fiat, precious metals etc instantly if it is crashing). I don't need to wait hours while sinking with the boat, everything is interchangeable within Ripple INSTANTLY.

Nothing is changeable in ripple instantly. It only looks so because you're not actually trading anything but IOU, i.e. meaningless 'bank notes' that say that you own 1 BTC. However, you owning 1BTC is completely dependent on your trust network, and when shit will hit the fan, you'll lose everything you own, just like with our current banking system. Not only that, but you expose yourself to unnecessary risk just by using the ripple network.

If you want to withdraw BTC from the ripple network to your computer wallet in which you OWN ACTUAL BTC, it will still take you 1 hour because you'll have to take someone's BTC and send them to your wallet through the BTC network (and thus wait 60 minutes for ~6 comfirmations). Not only that but the 60 minutes you wait is a proof of security. Faster transaction times are only marginally more secure, because the network is backed by the amount of computer time that passed in order to grow the blockchain to the size it has.

[anderl]

Citation needed.  I have proof of ripple's centralized control as it is part of the architecture.  It was designed that way.  All you have is speculation and conjecture.  Keep spreading FUD because that is all you have.

This is a much sadder situation than first thought. Not only are you oblivious to basic facts about Bitcoin, you dismiss any criticism. Did you even learn what you were investing into? From THREE basic Google searches, I found articles that back up EVERY point. Because they are all well-known facts and I am well educated in Bitcoin politics.

Winkle Twins 1% http://www.businessinsider.com.au/the-winklevoss-twins-bitcoins-2013-4

The US Government's HUGE stake in Bitcoin http://www.wired.com/wiredenterprise/2013/12/fbi_wallet/

Bitcoin price manipulation http://blog.p2pfoundation.net/how-the-bitcoin-1-manipulate-the-currency-deceive-its-user-community-and-make-its-future-uncertain/2013/06/30


Now where are your citations? Because from my knowledge, you can run your own Rippled. So actually YOU are the one looking to spread FUD.

Winlkevoss twins owning 1% of bitcoins.  Yes it is a choice they made to buy those coins.  I am fully aware they own that many.  If they want to buy 100% of the coins that is fine too, I expect that will be very costly.  Its a matter of free market demand.  They don't control the bitcoin network any more than the other 99% of owners control the network. If the 99% sell of bitcoin to 0 then the Winklevosses lose.  They took a risk.  But having 1% of anything is not control.  Tell me where you can own 1% of something communal and have control over the 100%.  Lol

The FBI owns 144,000 coins.  This is even sadder than your winklevoss argument because their bitcoin stake amounts to 1.2% of total bitcoins and their "ownership" is only as an asset in a criminal investigation that will be auctioned off to the public when the investigation is complete.  So they did not purposefully take the coins to "control" the network.  What the buyer does with the coins is up to them.  Free markets dictates that.

Bitcoin price manipulation.  That entire article is conjecture.  There is not fact behind it.  The bitcoin market is controlled by market dynamics.  Bitcoin ownership by account.



Compare that to the United States wealth distribution


Now compare how much control the creatores fo ripple have over XRP.  Oh yeah...


"Ripple is a scam! Ripple is a get rich quick scheme for it's creators, a private for-profit company. It is NOT open source. It is CENTRALIZED, akin to PayPal rather than Bitcoin. For more info, visit RippleScam.org."

 

[anderl]

Nope. Just something a majority of people are missing out on. I'm personally sick of waiting sometimes over an hour for a Bitcoin transaction every time I go outside of the Ripple protocol. Everything is so much quicker and easier in there. Instant transactions and it is FREE. My wallet holds XRP, BTC, LTC, USD, shares etc. Wow! Not just the one currency. I only experience the reality when I transfer my Bitcoin using Bitcoin bridge (where you replace a Ripple address with a Bitcoin address) and it sends the Bitcoin outside of the network.

I feel sorry for those of you who do not open their eyes and continue to live in the stone age with your long confirmation times, fees, centralized exchanges etc - so little freedom. I can instantly turn my BTC into ANY currency/ commodity (being crypto, fiat, precious metals etc instantly if it is crashing). I don't need to wait hours while sinking with the boat, everything is interchangeable within Ripple INSTANTLY.

Nothing is changeable in ripple instantly. It only looks so because you're not actually trading anything but IOU, i.e. meaningless 'bank notes' that say that you own 1 BTC. However, you owning 1BTC is completely dependent on your trust network, and when shit will hit the fan, you'll lose everything you own, just like with our current banking system. Not only that, but you expose yourself to unnecessary risk just by using the ripple network.

If you want to withdraw BTC from the ripple network to your computer wallet in which you OWN ACTUAL BTC, it will still take you 1 hour because you'll have to take someone's BTC and send them to your wallet through the BTC network (and thus wait 60 minutes for ~6 comfirmations). Not only that but the 60 minutes you wait is a proof of security. Faster transaction times are only marginally more secure, because the network is backed by the amount of computer time that passed in order to grow the blockchain to the size it has.

Yes exactly.  Ripple is a derivative of cryptocurrencies.  It is the fiat of crypto and the creators have the power to manipulate it when ever they want.  It is like going back to they day when goldsmiths used to store customers gold in their vault and instead of giving their customers the gold for use in buying and selling good they gave out IOUs.  But corrupt goldsmiths used to give out more IOUs than the vault held.  Thus was born the bank run.  I"m sure that XRP could be trusted but because humans control it and humans can be corrupt they can change the game and destroy XRP wealth overnight.

[broken_pixel]

Just Say No to Ripple (XRP)

[anderl]

Here is some great information about what the gold smiths used to do with storing gold and using derivatives like IOUs back in the day.

From Commodity to Bank-Debt Money
http://ingrimayne.com/econ/Banking/Commodity.html

and the second part

Creating Money << this is what ripple is trying to do with bitcoin.
http://ingrimayne.com/econ/Banking/Commodity2.html

"Ripple is a scam! Ripple is a get rich quick scheme for it's creators, a private for-profit company. It is NOT open source. It is CENTRALIZED, akin to PayPal rather than Bitcoin. For more info, visit RippleScam.org."

[TheWhale]

Here is some great information about what the gold smiths used to do with storing gold and using derivatives like IOUs back in the day.

From Commodity to Bank-Debt Money
http://ingrimayne.com/econ/Banking/Commodity.html

and the second part

Creating Money << this is what ripple is trying to do with bitcoin.
http://ingrimayne.com/econ/Banking/Commodity2.html

Great, so now you don't understand the psychology behind trading. The little fish follow the trends, who do you think is setting those 'perceived' trends?

So from your colorful graphs, it doesn't matter that nearly 30% of all BTC are held by less than 50 people. And you assume that these 47 entities have little to no influence on the price? So if Satoshi or the US Government expressed that they would be dumping their BTC holdings, this would have no adverse effect on BTC? Wow. Just wow. No wonder why you don't get Ripple nor can provide any citations for your own FUD campaign which I explicitly asked for in my last post.

You are so naive. Therefore, I have concluded that you are a troll. Is there a TrollCoin yet? I'll tip you.

[anderl]

Here is some great information about what the gold smiths used to do with storing gold and using derivatives like IOUs back in the day.

From Commodity to Bank-Debt Money
http://ingrimayne.com/econ/Banking/Commodity.html

and the second part

Creating Money << this is what ripple is trying to do with bitcoin.
http://ingrimayne.com/econ/Banking/Commodity2.html

Great, so now you don't understand the psychology behind trading. The little fish follow the trends, who do you think is setting those 'perceived' trends?

So from your colorful graphs, it doesn't matter that nearly 30% of all BTC are held by less than 50 people. And you assume that these 47 entities have little to no influence on the price? So if Satoshi or the US Government expressed that they would be dumping their BTC holdings, this would have no adverse effect on BTC? Wow. Just wow. No wonder why you don't get Ripple nor can provide any citations for your own FUD campaign which I explicitly asked for in my last post.

You are so naive. Therefore, I have concluded that you are a troll. Is there a TrollCoin yet? I'll tip you.

Thanks for the new Ripplecoin thread.  I needed a place to advertise it as a scam.

[rix5]

"ripple sucks"

confirmed

[TheWhale]

Here is some great information about what the gold smiths used to do with storing gold and using derivatives like IOUs back in the day.

From Commodity to Bank-Debt Money
http://ingrimayne.com/econ/Banking/Commodity.html

and the second part

Creating Money << this is what ripple is trying to do with bitcoin.
http://ingrimayne.com/econ/Banking/Commodity2.html

Great, so now you don't understand the psychology behind trading. The little fish follow the trends, who do you think is setting those 'perceived' trends?

So from your colorful graphs, it doesn't matter that nearly 30% of all BTC are held by less than 50 people. And you assume that these 47 entities have little to no influence on the price? So if Satoshi or the US Government expressed that they would be dumping their BTC holdings, this would have no adverse effect on BTC? Wow. Just wow. No wonder why you don't get Ripple nor can provide any citations for your own FUD campaign which I explicitly asked for in my last post.

You are so naive. Therefore, I have concluded that you are a troll. Is there a TrollCoin yet? I'll tip you.

Thanks for the new Ripplecoin thread.  I needed a place to advertise it as a scam.

I called you out for being an idiot long ago. It only took me to push you into a corner to show your true intentions.

[TheWhale]

anderl Trust: He can't structure a proper argument without lying. What does this say about his integrity as a person? If he blatantly lies on the forums, I fear he will lie and defraud innocent people.

One example being that he is trying to convince people that Ripple is NOT open source (which it is). Therefore he is defaming a company (which is illegal) and saying that an Admin of bitcointalk is part of a scam. As JustMoon is CTO of RippleLabs.

All evidence has been screen printed for prosecution - if desired.




Anyone else involved with defamation or accusing the administration of bitcointalk of being actively involved in a scam?

[phzi]

I think you will have a very hard time finding precident for a defamafion or slander lawsuit for what someone wrote on a forum.... not to mention screenshots are about as far as it gets from admisible legal evidence.

Ripple is certainly more interesting since they opened up the source code for running a full node... but it should be forked and the units of trade made reasonably distributed.

[anderl]

anderl Trust: He can't structure a proper argument without lying. What does this say about his integrity as a person? If he blatantly lies on the forums, I fear he will lie and defraud innocent people.

One example being that he is trying to convince people that Ripple is NOT open source (which it is). Therefore he is defaming a company (which is illegal) and saying that an Admin of bitcointalk is part of a scam. As JustMoon is CTO of RippleLabs.

All evidence has been screen printed for prosecution - if desired.




Anyone else involved with defamation or accusing the administration of bitcointalk of being actively involved in a scam?

You are  really grasping at straws. You a little butt hurt. Why don't you tell us more about how terrible ripple is? How you are trying to spread propaganda about it here so people buy into it thinking it is as tangible as btc when in reality it is a first system just as pathetic as the US dollar. Bernanke is that you?

[anderl]

The  difference between bitcoin and ripple.



Ripple is the PRISM of Cryptos. Ripple can easily be easily subjugated by the NSA since it is a corporation and has to abide by National laws,  homeland security.

Keep Cryptos free from government control. Do not use  Ripple.

[TheWhale]

anderl Trust: He can't structure a proper argument without lying. What does this say about his integrity as a person? If he blatantly lies on the forums, I fear he will lie and defraud innocent people.

One example being that he is trying to convince people that Ripple is NOT open source (which it is). Therefore he is defaming a company (which is illegal) and saying that an Admin of bitcointalk is part of a scam. As JustMoon is CTO of RippleLabs.

All evidence has been screen printed for prosecution - if desired.




Anyone else involved with defamation or accusing the administration of bitcointalk of being actively involved in a scam?

You are  really grasping at straws. You a little butt hurt. Why don't you tell us more about how terrible ripple is? How you are trying to spread propaganda about it here so people buy into it thinking it is as tangible as btc when in reality it is a first system just as pathetic as the US dollar. Bernanke is that you?

I'm grasping at nothing. You have been proven wrong and now you are having a tantrum in the corner.

Pathetic.

[hypostatization]

The  difference between bitcoin and ripple.



Ripple is the PRISM of Cryptos. Ripple can easily be easily subjugated by the NSA since it is a corporation and has to abide by National laws,  homeland security.

Keep Cryptos free from government control. Do not use  Ripple.

You may have fallen prey to the ripplescam.org misinformation campaign led by reputed scammer TradeFortress in support of his vested interests. He created the frequently quoted inaccurated and outdated attack site. Ripple threatened the centralized business plans of several dubious Bitcoin community members, who allegedly paid forum members to spread the same text you are repeating.

Ripple source code

Ripple is a distributed cross-currency payment and exchange network and protocol, support by an internal math-based deflationary currency (XRP) with 0 counter-party risk. It is not a corporation.

Ripple Labs is a corporation. They are driving development of the open source software and promoting network adoption.

XRP is used for transactions/ledger fees, mitigating flood attacks, and acts as a bridge currency. Initial distribution of XRP is controlled by Ripple Labs; it is undoubtedly a profit source. As of this posting, they retain ~72,000,000,000 of the total 99,999,999,999 that will ever exist. They are using XRP to fund network development, at both software and business levels. It is a completely different approach than Bitcoin. Instead of subsidizing ASIC/GPU manufacturers or botnets or power companies, Ripple Labs is attempting to incent development partners to join the network and provide liquidity for external currencies against XRP. At this point in time, they are providing XRP forgivable loans to attract new partners to the network.

In addition, they also distribute XRP as a reward for contributing to the humanitarian World Computing or Grid, via computingforgood.org, and through charitable donations.

Ripple Labs is transparent about all of the above information. It is a bit hard to understand the scam accusations... nothing is hidden. All of the distortion comes from the most vocal attackers.

Chris Larsen (CEO) gives a great overview in this recent Ripple Money & Tech interview.

Ripple is not centralized. It is based around the concept of facilitating transactions between individuals, without directly needing trust each other and has been in development since 2004. It began with a centralized implementation. Ripple Labs succeeded in making it a distributed protocol.

Manu Sporny of the W3C, an ardent supporter of open payments protocols, had many favorable things to say about both Bitcoin and Ripple.

Ripple is an open alternative to centralized exchanges and payment networks---and you may have been unwittingly led to believe otherwise in order to help support centralized scam Bitcoin business models.

[anderl]

anderl Trust: He can't structure a proper argument without lying. What does this say about his integrity as a person? If he blatantly lies on the forums, I fear he will lie and defraud innocent people.

One example being that he is trying to convince people that Ripple is NOT open source (which it is). Therefore he is defaming a company (which is illegal) and saying that an Admin of bitcointalk is part of a scam. As JustMoon is CTO of RippleLabs.

All evidence has been screen printed for prosecution - if desired.




Anyone else involved with defamation or accusing the administration of bitcointalk of being actively involved in a scam?

You are  really grasping at straws. You a little butt hurt. Why don't you tell us more about how terrible ripple is? How you are trying to spread propaganda about it here so people buy into it thinking it is as tangible as btc when in reality it is a first system just as pathetic as the US dollar. Bernanke is that you?

I'm grasping at nothing. You have been proven wrong and now you are having a tantrum in the corner.

Pathetic.

Put your money where your mouth is then. You threatened slander.  Or are you just trolling.

[anderl]

 Initial distribution of XRP is controlled by Ripple Labs; it is undoubtedly a profit source. As of this posting, they retain ~72,000,000,000 of the total 99,999,999,999 that will ever exist.

What happen when they dump their ripples? What will your ripples be worth of insiders desire to cash out? 100 percent premine!  Lol