Yes, it has the advantage of making new connections in the financial system but it also allows for ebbs and flows and massive crashes due to the extra linking. Movements like this are natural for any network. When you take out a loan you allow the lender more than interest - but also an extra facet of control that is not at all obvious.
Unlike Bitcoin, Ripple is based on this same broken system.
I don't write off advise from a source because that source is unfashionable. All the major religions have something to say about debt. If you want to write off religion as a source for what people thought in the past then there isn't much left in history.
Science is like a disrespectful brat right now to it's parents which are religion and philosophy. The attitude is slowly maturing.
In reading this thread we've seen a few people who don't know what Ripple is, nor how it is different.
With Ripple you are trusting other people to pay you back. That is "Promise to pay the bearer" as printed on GBP notes and specifically advised against as a bad idea in the bible. It's an IOU but unlike a Hawala notebook it's digital. Howeverm here's the interesting bit: you can infer trust to someone you don't know via someone else. Thus, if there's someone on the forum yoiu don't know you might be able to get trust via that someone else.
This is good when people are paying their debts but if it goes wrong the debt default Ripple goes through the entire system.
The other good thing is that Ripple facilitates setting up an exchange through the gateways. However, it's not as easy for the average user IMHO.
Finally, the whole thing is glued together with XRP and that is dodgy.
Scam or not, you must at least be aware of all this stuff!
With Ripple you are trusting other people to pay you back. That is "Promise to pay the bearer" as printed on GBP notes and specifically advised against as a bad idea in the bible. It's an IOU but unlike a Hawala notebook it's digital. Howeverm here's the interesting bit: you can infer trust to someone you don't know via someone else. Thus, if there's someone on the forum yoiu don't know you might be able to get trust via that someone else.
This is good when people are paying their debts but if it goes wrong the debt default Ripple goes through the entire system.
The other good thing is that Ripple facilitates setting up an exchange through the gateways. However, it's not as easy for the average user IMHO.
Finally, the whole thing is glued together with XRP and that is dodgy.
Scam or not, you must at least be aware of all this stuff!
wait you are referencing a book written a few thousand years before modern financial systems were developed for giving financial advice?
come on....
