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Author Topic: Ripplepay - Should we start using it massively ?  (Read 2285 times)
gusti
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October 24, 2011, 01:13:34 PM
 #1

Facing last news about exchanges banks accounts being shutdown in Europe, we need to encourage descentralized P2P exchanges much more.

Do you think ripplepay, which already have bitcoin support, is the answer or not ?

If you don't own the private keys, you don't own the coins.
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Steve
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October 24, 2011, 01:30:18 PM
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I think RipplePay.com is a centralized service currently.  I do think the ripple pay approach of finding a path through a trust network to transfer debt is needed for bitcoin exchange...however, it needs to be done in a truly p2p fashion with the same privacy and irreversibility that bitcoin offers.

(gasteve on IRC) Does your website accept cash? https://bitpay.com
Andrew Vorobyov
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October 24, 2011, 01:56:30 PM
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Unfortunately ripple does not count any more after Bitcoin was invented

LokeRundt
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October 25, 2011, 11:19:10 AM
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Unfortunately ripple does not count any more after Bitcoin was invented

How do you figure?  I'm not trolling, I'm not *that* familiar with ripple

Hippy Anarchy
*shrug*
Andrew Vorobyov
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October 25, 2011, 06:24:19 PM
 #5

Ripple is "debt" transfer as a matter of fact. and useful when asset transfer is very troublesome... like moving stash of cash from one country to another... Since using Bitcoin for moving "stash of cash" is already very easy it makes Ripple not so much needed.. IMHO

mila
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October 25, 2011, 10:57:28 PM
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you can self sign and issue any currency IOU with ripple.
nothing prevents you from creating even a bitcoin denominated ripple record as a pledge or escrow alternative.
it would have no link to blockchain whatsoever but it's a nice tool (ripplepay) and worth a look

your ad here:
netrin
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October 26, 2011, 02:17:37 AM
 #7

Ripple is less liquid but more stable. I think ripple and bitcoin complement each other well.

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payb.tc
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October 26, 2011, 02:44:35 AM
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agreed, and there are probably a lot of cases where a record in the blockchain is unnecessary/unwanted.
Phinnaeus Gage
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October 26, 2011, 04:11:04 AM
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S.N. disappears Dec., 2010, and Ripple starts accepting BTC on Jan. 9, 2011. I wonder if there's a connection.
netrin
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October 26, 2011, 11:36:25 AM
 #10

I know we're talking crypto here, but throw us a bone. What's S.N.?

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payb.tc
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October 26, 2011, 12:01:57 PM
 #11

I know we're talking crypto here, but throw us a bone. What's S.N.?

some supposedly japanese guy who invented up some awesome currency.

i'll try to find you a link.
luv2drnkbr
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October 26, 2011, 12:29:12 PM
 #12

Unfortunately ripple does not count any more after Bitcoin was invented

No, Ripple is not good for BITCOINS, but there are many other commodities and currencies, and realistically, if we want to integrate bitcoins into the world, we have to work within the framework.  And getting people to us their USD and other money via a ripple-trust network is one good step along the path towards seeing how an entirely P2P network can function well.

ribuck
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October 26, 2011, 01:02:11 PM
 #13

Ripplepay sounds like a great concept, but how does it deal with the situation where an intermediary dies or becomes bankrupt, and their debt must be written off? It seems to lack the certainty of Bitcoin.
gusti
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October 26, 2011, 01:07:29 PM
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Ripplepay sounds like a great concept, but how does it deal with the situation where an intermediary dies or becomes bankrupt, and their debt must be written off? It seems to lack the certainty of Bitcoin.

Sure, the risk cannot be eliminated, but limited in a case by case basis.
Anyway, I was thinking Ripplepay more on helping to build the p2p exchange network, than on the credit side of it.

If you don't own the private keys, you don't own the coins.
Steve
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October 26, 2011, 01:09:29 PM
 #15

Ripplepay sounds like a great concept, but how does it deal with the situation where an intermediary dies or becomes bankrupt, and their debt must be written off? It seems to lack the certainty of Bitcoin.
Whoever holds that debt could request that it be repaid by family members...however, in combination with bitcoin, ripple would facilitate the exchange of bitcoins for other things...you would not hold debt for extended periods of time, but rather you would settle up periodically.

(gasteve on IRC) Does your website accept cash? https://bitpay.com
Are-you-a-wizard?
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October 26, 2011, 01:10:29 PM
 #16

Once bitcoin clients are out that shove extra info into the blockchain, a similar apprach will be achievement via the bitcoin protocol alone.
gusti
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October 26, 2011, 01:12:35 PM
 #17

Once bitcoin clients are out that shove extra info into the blockchain, a similar apprach will be achievement via the bitcoin protocol alone.

Is there any work in progress with that approach ?

If you don't own the private keys, you don't own the coins.
netrin
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October 26, 2011, 07:31:20 PM
 #18

Whether it's ripple, ripple-like, in bitcoin, outside, bitcoin-like, something new, something old, something blue, who cares. There is no such thing as a unique original idea created from intellectual isolation.

Oh, and arigatou for the S.N. bone.

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becoin
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October 26, 2011, 09:49:50 PM
 #19

Ripple is "debt" transfer as a matter of fact. and useful when asset transfer is very troublesome... like moving stash of cash from one country to another... Since using Bitcoin for moving "stash of cash" is already very easy it makes Ripple not so much needed.. IMHO
Ripple and ripple like concept is the only way for a sustainable bitcoin economy! Operating an economy on the bases of a "trust no one" payment system is very expensive. Transfer of "debt"/IOWs is transfer of TRUST. Trust is a fundamental category in every economy and the payment system that serves it. This is trust (not money) that makes the world go round! Money come into play if only the limit of trust is reached and balances have to be settled.

You need 6 block solved (1 hour) before your transaction is confirmed. Nobody will use such method of payment at the point-of-sale terminals! We need a system like p2p Ripple to verify the purchase in just couple of seconds. If trust limit is surpassed only then outstanding balances should be cleared through a bitcoin transaction!

18sNtvUmtW6nrQXfYt1wvviGockSWxhPBX
Phinnaeus Gage
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October 27, 2011, 12:37:14 AM
 #20

I know we're talking crypto here, but throw us a bone. What's S.N.?

some supposedly japanese guy who invented up some awesome currency.

i'll try to find you a link.


S.O.B., all the links have been removed from the internet. Anybody happen to have a screenshot of anything related to S.N.?
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