getting my head around ripple - please correct me.

[HerrAndreas]

After a few weeks I am starting out again on the quest to understand what ripple is about.

As far as I can see all you can really do is trade ripples xrp for other currencies (on a rather small number of exchanges).

The "trust lines" seem to be something like the relationship between customer and bank/exchange.

But what can you do with it?

As most exchanges are not ripple gateways you can not transfer anything but XRP between them (and pay their fees for that).
If you could transfer USD or EUR between decent exchanges that would be a real gamechanger.

But at the moment I dont see any point in using it, if you anyway already have a btc hot wallet.

Am I missing something?

[dailyarsenal]

Ripples is crap.

[squiggie]

Without saying anything either for or against ripple, you can 'mine' it, but not in the traditional way. You can participate in the world community grid project folding and get ripple based on the amount of work you do within the team.

[DemetriusAstroBlack]

I personally hate ripple and it's association with opensource crypto coins.  Choose your side...

http://ripplescam.org/

VS

http://crypt.la/2014/01/22/unexposing-the-ripple-scam-rebutting-ripplescam-org/

[NotoriousBIT]

I think anyone who wants to support cryptocurrencies in general needs to stay away from Ripple.  I have a feeling it will get popular eventually but I don't really care to support that direction.  I don't know as much as most, but it seems like it is what cryptocurrency is NOT about.

[gentlemand]

I don't understand any of it and lord knows I've tried. I do find it strange that an entity with plenty of big time backers attracts almost zero press interest.

[HerrAndreas]

I personally hate ripple and it's association with opensource crypto coins.  Choose your side...

http://ripplescam.org/

VS

http://crypt.la/2014/01/22/unexposing-the-ripple-scam-rebutting-ripplescam-org/

thanks. that got me a bit further.
still I see no benefit of using it to send non-XRP currencies especially fiat over the ripple network, as it is not only like using my bank account but exactly the same (with the minor difference, that I would have to trust some gateway instead of a bank with state guarantee for my funds...).

[Snail2]

On https://xrptalk.org/ you can find lots of people who can give you all info you need about Ripple. They are quite helpful bunch of guys.

[jakedeez]

After a few weeks I am starting out again on the quest to understand what ripple is about.

As far as I can see all you can really do is trade ripples xrp for other currencies (on a rather small number of exchanges).

The "trust lines" seem to be something like the relationship between customer and bank/exchange.

But what can you do with it?

As most exchanges are not ripple gateways you can not transfer anything but XRP between them (and pay their fees for that).
If you could transfer USD or EUR between decent exchanges that would be a real gamechanger.

But at the moment I dont see any point in using it, if you anyway already have a btc hot wallet.

Am I missing something?

I think teh point is that if the exchanges, and perhaps major financial institutions become ripple gateways it could be really great.  Ripple isn't an open system the way bitcoin is, but it is a bit easier a sell to financial institutions.  I think personally ripple could be really great and helpful to the space... but hardly anyone here will agree with me on that.  (I am talking about ripple the protocol btw, not XRP)

[broken_pixel]

Run away and fast. One of the main purpose for crypto currencies aka. peer-to-peer payment systems is to be decentralized and open source. XRP is not decentralized, it is not actually open source and is controlled by CEOs. You can compare the code to OS X as it is open source with closed source components.

[alani123]

I personally hate ripple and it's association with opensource crypto coins.  Choose your side...

http://ripplescam.org/

VS

http://crypt.la/2014/01/22/unexposing-the-ripple-scam-rebutting-ripplescam-org/

Do you have any idea who is who is the creator of this page?

[Sukrim]

Run away and fast. One of the main purpose for crypto currencies aka. peer-to-peer payment systems is to be decentralized and open source. XRP is not decentralized, it is not actually open source and is controlled by CEOs. You can compare the code to OS X as it is open source with closed source components.

This is simply wrong, all code needed to operate any component of Ripple is available at https://github.com/ripple

Most Bitcoin services are far more centralized than Ripple by the way, and far more closed.

[shinep]

It took a while for me to get around the workings of ripple.
But once you understand it, and use it, you could see it for yourself, the ease it brings for trading.

I think it has got a bright future, if ripple team can manage gateways in all countries.

[HerrAndreas]

concerning "ease at trading", do you trade on the ripple network (then presumably with personally established contacts) or have you found a way to transfer between relevant and working exchanges?

Or is there a way to use the ripple system I have overlooked?

[Sukrim]

Ripple can be used with personal contacts and/or larger entities (e.g. Bitstamp is a Ripple gateway).

[omahapoker]

I never did understand ripple and i've always stayed away from it

[emelac]

You can add a trustline for a gateway, but there are very few gateways available as it is still in beta. Bitstamp is the main one and you will have to get their ripple address to add a trust for them.

Afterwards you can use your ripple wallet to buy various fiat currencies or bitcoins. You can send the bitcoins to any address you like. If you make a bitstamp account you can probably deposit fiat from your ripple wallet into it.

[praxiscat]

It's a scam that shouldn't even be listed on coin market cap.

[emelac]

There are plenty of shitcoins on coinmarketcap that people regard as scams. If they are allowed a place there then why should ripple be excluded? Who gets to decide which coin to exclude?

[softron]

I think its still in development