Bitcoin Forum
May 02, 2024, 01:45:38 PM
Welcome,
Guest
. Please
login
or
register
.
News
: Latest Bitcoin Core release:
27.0
[
Torrent
]
Home
Help
Search
Login
Register
More
Bitcoin Forum
>
Alternate cryptocurrencies
>
Altcoin Discussion
>
Capital One implementing Ripple?
Pages: [
1
]
« previous topic
next topic »
Print
Author
Topic: Capital One implementing Ripple? (Read 1198 times)
NWO
(OP)
Sr. Member
Offline
Activity: 392
Merit: 250
Capital One implementing Ripple?
May 13, 2014, 08:09:02 AM
Last edit: May 13, 2014, 10:04:52 AM by NWO
#1
https://twitter.com/seansposito/status/465968259893043200
This would be huge following the Fidor bank news! Some digging on this twitter user brings up some possible links to Capital One - therefore the rumor might have some credibility. Transaction volume has increased by over 3 million USD* on the network.
Something is stirring
Discuss.
*The transaction volume is still increasing like crazy. Raised it from an increase of 1 million USD to 3 million USD.
1714657538
Hero Member
Offline
Posts: 1714657538
Ignore
1714657538
1714657538
#2
1714657538
Report to moderator
VPN's and Cloud Backups made simple. crowncloud.net
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714657538
Hero Member
Offline
Posts: 1714657538
Ignore
1714657538
1714657538
#2
1714657538
Report to moderator
Peter R
Legendary
Offline
Activity: 1162
Merit: 1007
Re: Capital One implementing Ripple?
May 13, 2014, 08:27:52 AM
#2
I don't understand why someone would be interested in the long-term prospects of foo-coins like Ripple for exchanging IOUs when you can accomplish the same thing with bitcoin AND eliminate counterparty risk on BTC assets. If you are interested in decentralized exchanges, coins pegged to the USD, gold, or other assets, then check our colored coins (the video here is a pretty good summary):
http://coloredcoins.org
The major advantage of colored coins is that they exist purely in bitcoin-space--there's no need to buy some foo-coin to create them.
Colored coins are essentially small amounts of bitcoins that encode IOUs for various assets. For example, Bitstamp could create BitstampUSD colored coins. The value of a colored coin is thus the value of the underlying bitcoins + the market value of the IOU. I could buy BitstampUSD from anyone, send them to Bitstamp, and then have Bitstamp honour the IOU by wiring money to my bank account.
Colored coins open up exciting opportunities for the bitcoin network. However, colored coins are not a threat to bitcoins themselves. The reason they are not a threat is that all colored coins are IOUs; they are only worth something as long as the counterparty can honour them. In other words, colored coins are not completely trustless. There is only one asset in bitcoin-space that is not also someone else's liability: bitcoins themselves.
Run Bitcoin Unlimited (
www.bitcoinunlimited.info
)
NWO
(OP)
Sr. Member
Offline
Activity: 392
Merit: 250
Re: Capital One implementing Ripple?
May 13, 2014, 08:32:16 AM
#3
Quote from: Peter R on May 13, 2014, 08:27:52 AM
I don't understand why someone would be interested in the long-term prospects of foo-coins like Ripple for exchanging IOUs when you can accomplish the same thing with bitcoin AND eliminate counterparty risk on BTC assets. If you are interested in decentralized exchanges, coins pegged to the USD, gold, or other assets, then check our colored coins (the video here is a pretty good summary):
http://coloredcoins.org
The major advantage of colored coins is that they exist purely in bitcoin-space--there's no need to buy some foo-coin to create them.
Colored coins are essentially small amounts of bitcoins that encode IOUs for various assets. For example, Bitstamp could create BitstampUSD colored coins. The value of a colored coin is thus the value of the underlying bitcoins + the market value of the IOU. I could buy BitstampUSD from anyone, send them to Bitstamp, and then have Bitstamp honour the IOU by wiring money to my bank account.
Colored coins open up exciting opportunities for the bitcoin network. However, colored coins are not a threat to bitcoins themselves. The reason they are not a threat is that all colored coins are IOUs; they are only worth something as long as the counterparty can honour them. In other words, colored coins are not completely trustless. There is only one asset in bitcoin-space that is not also someone else's liability: bitcoins themselves.
Probably because banks want to do business with a legitimate company?
Ripple team
Ripple investors
IMO Bitcoin is being tarnished in the public eye.
nextgencoin
Legendary
Offline
Activity: 1106
Merit: 1000
Re: Capital One implementing Ripple?
May 13, 2014, 09:17:42 AM
#4
I don't like the fact Ripple is gaining acceptance where it was always aiming for ie The mainstream. But I can't deny it either.
I do wonder how exactly these banks will implement it though. I can't ever see people using the complex trust methods of Ripple. I guess Capital one will just buy a certain amount if ripple and use it as currency that they will control and insure....I guess like colored coins.
bodymail
Newbie
Offline
Activity: 28
Merit: 0
Re: Capital One implementing Ripple?
May 13, 2014, 09:19:35 AM
#5
Development of ripple can also have a better future, the application will be its breaking point.
Spoetnik
Legendary
Offline
Activity: 1540
Merit: 1011
FUD Philanthropist™
Re: Capital One implementing Ripple?
May 13, 2014, 09:26:33 AM
#6
if they did their idiots
FUD first & ask questions later™
NWO
(OP)
Sr. Member
Offline
Activity: 392
Merit: 250
Re: Capital One implementing Ripple?
May 13, 2014, 09:59:35 AM
#7
Quote from: Spoetnik on May 13, 2014, 09:26:33 AM
if they did their idiots
they're*
NWO
(OP)
Sr. Member
Offline
Activity: 392
Merit: 250
Re: Capital One implementing Ripple?
May 13, 2014, 10:01:48 AM
Last edit: May 13, 2014, 10:27:56 AM by NWO
#8
Quote from: nextgencoin on May 13, 2014, 09:17:42 AM
I don't like the fact Ripple is gaining acceptance where it was always aiming for ie The mainstream. But I can't deny it either.
I do wonder how exactly these banks will implement it though. I can't ever see people using the complex trust methods of Ripple. I guess Capital one will just buy a certain amount if ripple and use it as currency that they will control and insure....I guess like colored coins.
Banks are using the technology. People won't even know they are using Ripple. They'll just be like "OMG! My international bank transfer just took 3 seconds!"
NWO
(OP)
Sr. Member
Offline
Activity: 392
Merit: 250
Re: Capital One implementing Ripple?
May 14, 2014, 02:10:39 AM
#9
Price still increasing. Over $8 million USD in transaction volume so far...
http://www.ripplecharts.com/#/
princesultan1
Full Member
Offline
Activity: 132
Merit: 100
Re: Capital One implementing Ripple?
May 14, 2014, 02:28:47 AM
#10
Quote from: NWO on May 14, 2014, 02:10:39 AM
Price still increasing. Over $8 million USD in transaction volume so far...
http://www.ripplecharts.com/#/
Why do we care about transaction volume? Shouldn't we only care about trading volume to indicate that something big could be happening? Trading volume is moderately higher,nothing crazy.
Spoetnik
Legendary
Offline
Activity: 1540
Merit: 1011
FUD Philanthropist™
Re: Capital One implementing Ripple?
May 14, 2014, 02:58:07 AM
#11
Quote from: NWO on May 13, 2014, 09:59:35 AM
Quote from: Spoetnik on May 13, 2014, 09:26:33 AM
if they did their idiots
they're*
your a fucking loser
FUD first & ask questions later™
Latinman
Newbie
Offline
Activity: 13
Merit: 0
Re: Capital One implementing Ripple?
May 14, 2014, 03:22:49 AM
#12
Ripple is neat and easy to use.
dspair
Sr. Member
Offline
Activity: 266
Merit: 250
Re: Capital One implementing Ripple?
May 14, 2014, 03:28:37 AM
#13
Why do we still allow ripple threads on this forum if it's not even a cryptocurrency?
freequant
Hero Member
Offline
Activity: 770
Merit: 500
Re: Capital One implementing Ripple?
May 15, 2014, 06:49:50 AM
#14
Quote from: Spoetnik on May 14, 2014, 02:58:07 AM
Quote from: NWO on May 13, 2014, 09:59:35 AM
Quote from: Spoetnik on May 13, 2014, 09:26:33 AM
if they did their idiots
they're*
your a fucking loser
you're*
hypostatization
Sr. Member
Offline
Activity: 350
Merit: 250
Re: Capital One implementing Ripple?
May 15, 2014, 03:01:51 PM
#15
Quote from: Peter R on May 13, 2014, 08:27:52 AM
The major advantage of colored coins is that they exist purely in bitcoin-space--there's no need to buy some foo-coin to create them.
Bitcoin severely lags Ripple in transaction speed. Ripple transactions take 5 - 10 seconds to clear, versus waiting on Bitcoin confirmations. Ripple transactions are also incredibly cheap. Do colored coins support cross-currency payments? (honestly asking, could not find that info quickly)
I think your comment could be more accurately stated as:
the major advantage of colored coins
for Bitcoin
is that they exist purely in the bitcoin-space--you just need to buy Bitcoin to create them
.
I am a major Bitcoin fan, but when it comes to next-gen systems, Bitcoin is another foo-coin.
xrptalk.org
::
setup a wallet + trade all currencies
::
gateway reviews @ coinist.co
::
deposit to buy xrp @ snapswap
[
now supporting PayPal withdrawls + instant ACH transfer deposits
]
CrossCoin Ventures
startup accelerator - offering XRP funding up to $50,000 USD equivalent
BitOnyx
Member
Offline
Activity: 112
Merit: 10
Cryptocurrencies Exchange
Re: Capital One implementing Ripple?
May 15, 2014, 04:18:59 PM
#16
so many wierdo ripple news last days
B-I-T-O-N-Y-X - CRYPTO CURRENCIES EXCHANGE!
NWO
(OP)
Sr. Member
Offline
Activity: 392
Merit: 250
Re: Capital One implementing Ripple?
May 18, 2014, 06:36:43 AM
#17
Quote from: freequant on May 15, 2014, 06:49:50 AM
Quote from: Spoetnik on May 14, 2014, 02:58:07 AM
Quote from: NWO on May 13, 2014, 09:59:35 AM
Quote from: Spoetnik on May 13, 2014, 09:26:33 AM
if they did their idiots
they're*
your a fucking loser
you're*
You beat me to it!
Obviously Ripple is too difficult to understand for Spoetnik, he can't even spell.
jabo38
Legendary
Offline
Activity: 1232
Merit: 1001
mining is so 2012-2013
Re: Capital One implementing Ripple?
May 18, 2014, 09:30:39 AM
#18
I can easily see how a dozen major banks from different countries set up Ripple accounts and then only trust each other. They would drastically speed up transaction times, processing efforts, and make the customers a lot happier. It is a huge win for them and they don't have anything to lose if they only trust the other major banks they only want to do business with. They don't even have to set the trust levels that high as they could just be sending money in and out of a single Ripple account many times a minute. They could even break up larger transfers over a few minutes. A hundred thousand dollar account is play money to a big bank, even the CEO can make that a morning. Yet, that one Ripple account could cycle that one hundred thousand USD every 10 seconds, making the total volume a day on that Ripple account hundreds of millions of dollars a day. All with that hundreds of millions clearing instantly for basically no fees. Those big banks that form an alliance would stand a lot to gain as long as they just trusted a limited amount of partner banks they do a lot of business with.
This of course isn't the decentralized and all inclusive system of bitcoin. In that way bitcoin is much stronger. But Ripple is an extremely fast and efficient way of sending money across the world if you have trust with your partners. Yes.... it is all "IOU's" but with enough trusted partners and enough daily volume. What does it matter if it is IOU's when you send out one hundred thousand dollars worth of your own minted IOU to one bank in Asia, just to get it back 10 seconds later from a third bank in Germany. Done effectively, it is an extremely quick and fast way of settling debts within a group of major financial institutions that are constantly sending and receiving money across the world.
As you can see from my post, I think Ripple will be finding its place someday in the financial world. Then maybe you would think that I have gone in and bought a ton of XRP then. But I haven't. XRP isn't really a coin like Bitcoin, it is just meant to be a small little something that is burnt as a transaction fee. Yes, it is not meant to be kept and stored and hoarded. It is meant to be destroyed and burnt. In some situation it can be meant to trade an IOU for XRP and then use that XRP to buy another IOU, but that is not the promise of Ripple. That is just a small little side trick and that trick could drive the price up a little in the same way bitcoin is up, but again, that is not the point of XRP. The point of Ripple is the have these major financial institutions trading huge volumes and burning minuscule amounts of XRP as anti-spam. For me, I think it is a fools game to speculate in XRP when it is just meant to be destroyed anyway. People are constantly crying the Ripple is a scam because it was premined, and it was premined, but scam screamers are missing the point that really XRP wasn't meant to be a coin so it doesn't matter.
Catapult is the most advanced open source blockchain with the most features! Crosschain txs in SDK. MongoDB and API server with every full node. Multilevel multisig supported by fully decentralized API. Send many coins between many people in only one tx in one block with aggregated transactions.
jabo38
Legendary
Offline
Activity: 1232
Merit: 1001
mining is so 2012-2013
Re: Capital One implementing Ripple?
May 18, 2014, 10:06:49 AM
#19
man, I just looked at the price and something czy is going on.
http://www.cryptocoincharts.info/v2/pair/xrp/btc/justcoin/today
Catapult is the most advanced open source blockchain with the most features! Crosschain txs in SDK. MongoDB and API server with every full node. Multilevel multisig supported by fully decentralized API. Send many coins between many people in only one tx in one block with aggregated transactions.
Pages: [
1
]
Print
Bitcoin Forum
>
Alternate cryptocurrencies
>
Altcoin Discussion
>
Capital One implementing Ripple?
« previous topic
next topic »
Jump to:
Please select a destination:
-----------------------------
Bitcoin
-----------------------------
=> Bitcoin Discussion
===> Legal
===> Press
===> Meetups
===> Important Announcements
=> Development & Technical Discussion
===> Wallet software
=====> Electrum
=====> Bitcoin Wallet for Android
=====> BitcoinJ
=====> Armory
=====> Mycelium
=====> Hardware wallets
=> Mining
===> Mining support
===> Pools
===> Mining software (miners)
===> Hardware
=====> Group buys
===> Mining speculation
=> Bitcoin Technical Support
=> Project Development
-----------------------------
Economy
-----------------------------
=> Economics
===> Speculation
=> Marketplace
===> Goods
=====> Computer hardware
=====> Digital goods
=======> Invites & Accounts
=====> Collectibles
===> Services
===> Currency exchange
===> Gambling
=====> Games and rounds
=====> Investor-based games
=====> Gambling discussion
===> Lending
=====> Long-term offers
===> Securities
===> Auctions
===> Service Announcements
=====> Micro Earnings
===> Service Discussion
=====> Web Wallets
=====> Exchanges
=> Trading Discussion
===> Scam Accusations
===> Reputation
-----------------------------
Other
-----------------------------
=> Meta
===> New forum software
===> Bitcoin Wiki
=> Politics & Society
=> Beginners & Help
=> Off-topic
=> Serious discussion
===> Ivory Tower
=> Archival
===> Корзина
===> CPU/GPU Bitcoin mining hardware
===> Chinese students
===> Obsolete (buying)
===> Obsolete (selling)
===> MultiBit
-----------------------------
Alternate cryptocurrencies
-----------------------------
=> Altcoin Discussion
=> Announcements (Altcoins)
===> Tokens (Altcoins)
=> Mining (Altcoins)
===> Pools (Altcoins)
=> Marketplace (Altcoins)
===> Service Announcements (Altcoins)
===> Service Discussion (Altcoins)
===> Bounties (Altcoins)
=> Speculation (Altcoins)
-----------------------------
Local
-----------------------------
=> العربية (Arabic)
===> العملات البديلة (Altcoins)
=====> النقاشات
===> إستفسارات و أسئلة المبتدئين
===> التعدين
===> النقاشات الأخرى
===> منصات التبادل
=> Bahasa Indonesia (Indonesian)
===> Marketplace (Bahasa Indonesia)
===> Mining (Bahasa Indonesia)
===> Altcoins (Bahasa Indonesia)
===> Trading dan Spekulasi
===> Ekonomi, Politik, dan Budaya
===> Topik Lainnya
=> Español (Spanish)
===> Mercado y Economía
=====> Servicios
=====> Trading y especulación
===> Hardware y Minería
===> Esquina Libre
===> Mercadillo
=====> Mexico
=====> Argentina
=====> España
=====> Centroamerica y Caribe
===> Primeros pasos y ayuda
===> Altcoins (criptomonedas alternativas)
=====> Minería de altcoins
=====> Servicios
=====> Tokens (Español)
=> 中文 (Chinese)
===> 跳蚤市场
===> 山寨币
===> 媒体
===> 挖矿
===> 离题万里
=> Hrvatski (Croatian)
===> Trgovina
===> Altcoins (Hrvatski)
=====> Announcements (Hrvatski)
===> Off-topic (Hrvatski)
=> Deutsch (German)
===> Anfänger und Hilfe
===> Mining (Deutsch)
===> Trading und Spekulation
===> Projektentwicklung
===> Off-Topic (Deutsch)
===> Treffen
===> Presse
===> Altcoins (Deutsch)
=====> Announcements (Deutsch)
===> Marktplatz
=====> Auktionen
=====> Suche
=====> Biete
=> Ελληνικά (Greek)
===> Αγορά
===> Mining Discussion (Ελληνικά)
===> Altcoins (Ελληνικά)
=====> Altcoin Announcements (Ελληνικά)
=====> Altcoin Mining (Ελληνικά)
=> עברית (Hebrew)
=> Français
===> Actualité et News
===> Débutants
===> Discussions générales et utilisation du Bitcoin
===> Mining et Hardware
===> Économie et spéculation
===> Place de marché
=====> Échanges
=====> Produits et services
=====> Petites annonces
===> Le Bitcoin et la loi
===> Wiki, documentation et traduction
===> Développement et technique
===> Vos sites et projets
===> Hors-sujet
===> Altcoins (Français)
=====> Annonces
=> India
===> Mining (India)
===> Marketplace (India)
===> Regional Languages (India)
===> Press & News from India
===> Alt Coins (India)
===> Buyer/ Seller Reputations (India)
===> Off-Topic (India)
=> Italiano (Italian)
===> Guide (Italiano)
===> Progetti
===> Discussioni avanzate e sviluppo
===> Trading, analisi e speculazione
===> Mercato
=====> Mercato valute
=====> Beni
=====> Servizi
=====> Esercizi commerciali
=====> Hardware/Mining (Italiano)
=====> Gambling (Italiano)
===> Accuse scam/truffe
===> Mining (Italiano)
===> Alt-Currencies (Italiano)
=====> Annunci
===> Raduni/Meeting (Italiano)
===> Crittografia e decentralizzazione
===> Off-Topic (Italiano)
=> 日本語 (Japanese)
===> アルトコイン
=> Nederlands (Dutch)
===> Markt
===> Gokken/lotterijen
===> Mining (Nederlands)
===> Beurzen
===> Alt Coins (Nederlands)
===> Off-topic (Nederlands)
===> Meetings (Nederlands)
=> Nigeria (Naija)
=> 한국어 (Korean)
===> 대체코인 Alt Coins (한국어)
=> Pilipinas
===> Altcoins (Pilipinas)
=====> Altcoin Announcements (Pilipinas)
===> Pamilihan
===> Others (Pilipinas)
=> Polski
===> Tablica ogłoszeń
===> Alternatywne kryptowaluty
=====> Nowe kryptowaluty i tokeny
=====> Tablica ogłoszeń (altcoiny)
=> Português (Portuguese)
===> Primeiros Passos (Iniciantes)
===> Economia & Mercado
===> Mineração em Geral
===> Desenvolvimento & Discussões Técnicas
===> Criptomoedas Alternativas
===> Brasil
===> Portugal
=> Русский (Russian)
===> Новички
===> Бизнес
=====> Барахолка
=====> Обменники
===> Идеи
===> Кодеры
===> Майнеры
===> Политика
===> Трейдеры
===> Альтернативные криптовалюты
=====> Токены
=====> Бayнти и aиpдpoпы
===> Хайпы
===> Работа
===> Разное
===> Oбcyждeниe Bitcoin
=====> Новости
=====> Юристы
=> Română (Romanian)
===> Anunturi importante
===> Offtopic
===> Market
=====> Discutii Servicii
===> Minerit
===> Tutoriale
===> Bine ai venit!
===> Presa
===> Altcoins (Monede Alternative)
=====> Anunturi Monede Alternative
=> Skandinavisk
=> Türkçe (Turkish)
===> Bitcoin Haberleri
===> Pazar Alanı
===> Madencilik
===> Ekonomi
===> Servisler
=====> Fonlar
===> Proje Geliştirme
===> Alternatif Kripto-Paralar
=====> Madencilik (Alternatif Kripto-Paralar)
=====> Duyurular (Alternatif Kripto-Paralar)
===> Konu Dışı
===> Yeni Başlayanlar & Yardım
===> Buluşmalar
=> Other languages/locations
Loading...