Was Ripple ahead of its time?

[cryptonaut]

Only 6-12 months ago there was constant Ripple trolling. Now you look at all the new crypto 2.0 coins and they are trying to do what Ripple has already accomplished.

Nubits, BitsharesX, Nxt etc are all trying to peg fiat to their own ecosystems. Yet from the beginning, you have been able to trade USD, CNY, JPY, GBP etc interchangeably with XRP or ANYTHING on a decentralized exchange (another thing that the competition is only just achieving). Now Ripple has banking partners and smart contracts in development, further leaving the competition in the dust.


And don't even talk about Ripple being centralized to me. Just look at the BitsharesX PoS system or Darkcoin's 'darksend' feature, morons. 

[identtitentti]

Only 6-12 months ago there was constant Ripple trolling. Now you look at all the new crypto 2.0 coins and they are trying to do what Ripple has already accomplished.

Nubits, BitsharesX, Nxt etc are all trying to peg fiat to their own ecosystems. Yet from the beginning, you have been able to trade USD, CNY, JPY, GBP etc interchangeably with XRP or ANYTHING on a decentralized exchange (another thing that the competition is only just achieving). Now Ripple has banking partners and smart contracts in development, further leaving the competition in the dust.


And don't even talk about Ripple being centralized to me. Just look at the BitsharesX PoS system or Darkcoin's 'darksend' feature, morons. 

I don't see e.g. NXT and Ripple competing against each other, they are very different systems for different purposes. NXT is oriented towards creation and exchange of all kinds of assets, Ripple protocol (Hawala) is well suited for exchanges between different block chain ecosystems. The relation is more cooperation and synergy than competition. The only real competition is healthy rivalry of which ecosystems destroy and replace fiats most fast and efficient way.

[RedZeppelin]

Only 6-12 months ago there was constant Ripple trolling. 

"only".. and why after 6 months do the Ripple trolls crawl out from under their rocks again?
Why dont ripple have it`s own forum for ripple trolls to spam?

[SomethingElse]

I think it was a great idea.  I think it still is, I just think it was a bad execution.  I think a lot of people are looking to Stellar now to have a "stellar" execution. 

[newuser01]

Ripple is not a cryptocurrency

this

Ripple is what bitcoin was made to replace. Its hardly better than what we currently have.

[rugrats]

Only 6-12 months ago there was constant Ripple trolling. Now you look at all the new crypto 2.0 coins and they are trying to do what Ripple has already accomplished.

Nubits, BitsharesX, Nxt etc are all trying to peg fiat to their own ecosystems. Yet from the beginning, you have been able to trade USD, CNY, JPY, GBP etc interchangeably with XRP or ANYTHING on a decentralized exchange (another thing that the competition is only just achieving). Now Ripple has banking partners and smart contracts in development, further leaving the competition in the dust.


And don't even talk about Ripple being centralized to me. Just look at the BitsharesX PoS system or Darkcoin's 'darksend' feature, morons. 

Well it is centralized, isn't it?

I think it was a great idea.  I think it still is, I just think it was a bad execution.  I think a lot of people are looking to Stellar now to have a "stellar" execution. 

Same founder, same principles, same forum operator - the only difference is Stellar has early external financial backing and some corporate experience on its management team.
However, it is still being dominated by two authoritarian figures.
Plus, neither Stellar nor Ripple is competing for a pie from the crypto landscape - they are actually competing against fiat and conventional monetary instruments and payment solutions.

[profitofthegods]

The other fiat pegged assets are not the same as Ripple's as they aren't IOUs so they are a bit closer to being trustless.

I like Ripple, but I like it as an alternative to banking functions which cryptocurrency isn't yet ready to replace, rather than as an alternative to crypto.

Ripple is not fully decentralized, but its not fully centralized either. Its kind of a halfway house between traditional finance and crypto, and I personally think it will help move the world in the right direction even if it doesn't represent an ideal end point for me.

[Nullu]

Ripple is not a cryptocurrency

This. It's numbers in a database. It has value because ripple says it does. If Ripple goes under, so does its currency. Pass.

[ahbritto]

It's numbers in a database...

Bitcoin is also numbers in a database, too. The point is for the database to be distributed and for modifications to be made with cryptographically signed transactions. Both Bitcoin and Ripple are distributed databases.

The Ripple Protocol Consensus Algorithm:

• https://ripple.com/files/ripple_consensus_whitepaper.pdf

[Bitsky]

Ripple is not a cryptocurrency

This. It's numbers in a database. It has value because ripple says it does. If Ripple goes under, so does its currency. Pass.

That applies to practically everything. If the US goes down, nobody wants your USD anymore. If Steam goes down, so do your games. If Facebook goes down, you lost contact to your "friends" there.
Bitcoin only has value because some people think so. There is nothing backing it physically. Heck, even gold is worthless in catastrophic times. Just look at post-war black markets: you could get lots of gold for some food.

[newuser01]

Ripple is not a cryptocurrency

This. It's numbers in a database. It has value because ripple says it does. If Ripple goes under, so does its currency. Pass.

That applies to practically everything. If the US goes down, nobody wants your USD anymore. If Steam goes down, so do your games. If Facebook goes down, you lost contact to your "friends" there.
Bitcoin only has value because some people think so. There is nothing backing it physically. Heck, even gold is worthless in catastrophic times. Just look at post-war black markets: you could get lots of gold for some food.

I think the point he is making is that if Ripple (the company) goes under then XRP dies

Bitcoin has no central owning company so it will not go under because the authorities cannot shut it down as simple..

Personally I believe Ripple is AFTER its time.. Ripple would have been a good phase inbetween Fiat and cryptocurrencies but now I don't see any benefits using XRP over BTC for example.

[Sukrim]

I think the point he is making is that if Ripple (the company) goes under then XRP dies

Which is simply wrong.

Also Ripple is more about the exchange and transfer function, less about the native currency.

[newuser01]

I think the point he is making is that if Ripple (the company) goes under then XRP dies

Which is simply wrong.

Also Ripple is more about the exchange and transfer function, less about the native currency.

Is it really wrong?

afaik Ripple still owns 71,010,747,718 XRP and that's about 70% of the supply

You don't think XRP would go under if the authorities seized 70% of the total supply?

I think so

[BIT-Sharon]

Ripple is a kind of medium transaction between all kinds of digital currencies and charge for handling fee and avoid the procedure of transfering one kind of currency into other foreign currencies. It is a connection and not a crytocurrency itelf.

[Sukrim]

I think the point he is making is that if Ripple (the company) goes under then XRP dies

Which is simply wrong.

Also Ripple is more about the exchange and transfer function, less about the native currency.

Is it really wrong?

afaik Ripple still owns 71,010,747,718 XRP and that's about 70% of the supply

You don't think XRP would go under if the authorities seized 70% of the total supply?

I think so

The company is called Ripple Labs and a currency doesn't "die" if it looses value compared to other currencies (otherwise BTC for example would have died already several times and have been "reborn").

I guess it definitely would loose value, that however doesn't mean that XRP would be "dead". Also people actually using Ripple often don't hold (serious amounts of) XRP, unless they are speculating on it. They are quite irrelevant to the functioning of the network itself, so while speculators would be pissed, it wouldn't impact Ripple's ability to work as a decentralized exchange and value network.

[atoni]

Only 6-12 months ago there was constant Ripple trolling. Now you look at all the new crypto 2.0 coins and they are trying to do what Ripple has already accomplished.

Nubits, BitsharesX, Nxt etc are all trying to peg fiat to their own ecosystems. Yet from the beginning, you have been able to trade USD, CNY, JPY, GBP etc interchangeably with XRP or ANYTHING on a decentralized exchange (another thing that the competition is only just achieving). Now Ripple has banking partners and smart contracts in development, further leaving the competition in the dust.


And don't even talk about Ripple being centralized to me. Just look at the BitsharesX PoS system or Darkcoin's 'darksend' feature, morons. 

Yes, it was a lot ahead of its time. And yes, all other cryptos that call them selves 2.0 are trying to copy Ripple.

But Ripple doesnt leave competition in the dust, it empowers all competition not just in crypto but in fiat as well. If Ripple succeeds then all cryptos succeed as they will all finally get usage.

[TaunSew]

Actually the staff owns another 20 billion more for themselves.  If they can take Charlie Shrem's BTC - they can easily throw Jed into a jail cell with gangbangers and seize his computers and auction it off.


Really Ripple is such a joke if you think about it - it's a Napster waiting to happen, same with Ethereum.  Development teams should remain anonymous unless they live in a country like Japan or Denmark which is pro-BTC.

[profitofthegods]

Really Ripple is such a joke if you think about it - it's a Napster waiting to happen, same with Ethereum.  Development teams should remain anonymous unless they live in a country like Japan or Denmark which is pro-BTC.

The legal compliance departments of 3 banks and counting disagree with this.

[TaunSew]

Really Ripple is such a joke if you think about it - it's a Napster waiting to happen, same with Ethereum.  Development teams should remain anonymous unless they live in a country like Japan or Denmark which is pro-BTC.

The legal compliance departments of 3 banks and counting disagree with this.

You do realize that Napster back in the day had huge investments from private funds and banks, correct?  It doesn't matter what banks or funds are backing what, it's what the FBI thinks.

If Ripple gets too big and gets too much attention it is inevitably going to be raided by the FBI on accusation of money laundering, tax evasion, drug facilitation or enabling crimes, it's almost guaranteed.

[identtitentti]

Personally I believe Ripple is AFTER its time.. Ripple would have been a good phase inbetween Fiat and cryptocurrencies but now I don't see any benefits using XRP over BTC for example.

On more general level, Ripple/Stellar can this day and age of global transition serve a useful role as a link between traditional banking and cryptocurrencies. There is also demand for good mediums between various block chain ecosystems. Ripple/Stellar has many advantages over single third party exchange markets, but of course they are not the final word in that role - gateway idea is not limited to either of them and can and will be developed around AE of any platform.

Ripple is a private startup company selling a product mainly to financial industry and intrabank transactions, in that sense XRP can be a good investment for profit making. As ordinary user, I don't like it and the little experience I have from Ripple gateways left me mostly disgusted.

I like Stellar much better, at least the non-profit ideology, active education efforts and the global community being born from Facebook spreading. Community is the all important distinction between "same product" (ie digital Hawala), Ripple is financial tool for OECD financial industry,  Stellar still has at least a chance to become community driven global network. if they succeed making their gateway building very easy and simple so that ordinary people everywhere can participate. One question I have not seen rised, what additional value does digital Hawala offer compared to traditional Hawala? After 9/11 Bush admin went after Hawala, but AFAIK didn't manage to do any damage to it. Digital Hawala seems to me actually much more vulnerable than the traditional Hawala.