Topic: Can someone please explain to me what ripple is and why I should care about it? (Read 1456 times)

I don't remember Opencoin saying they are making a currency or competing directly with bitcoin? Do you have a link to that proof?

Do you have proof of this? But a company that accepts Google Venture money means that they are not doing anything unethic, you never know but it seems highly unlikely.

But this is a different apporach to exchanges, so to say you have to buy a certain thing, which is given out for free a lot of the time, so not a valid point. That is like saying well Fords have cup holders and Ferrari's don't, which is true, but you rather be driving the Ferrari. You can be done since your just yelling and looking dumb instead of defending your view. Which is based on what other people say and not research. Your also asking me to argue for what people are going to do, I can't do that. It is impossible so yes I stick to the facts.

I actually don't use ripple that much but ok i will enjoy my ripple adventure.

But bitcoin is a currency and ripple is mainly an exchange system. This is like when reporters call mt gox hacks, bitcoin hacks.

On Ripple dense fair-mindet people meets scammers. The scammers are operating gateways and will behave like gentlemen for some time, the stupid participants will loose their values, they will pay them back to their trusted friends. Because this all is not regulated the participants will not see one cent of their money. If JoelKatz says you could go to a court, this is not true, because it shall be decentralised in the end. It's obvious to me, this can not work. I see some people here discussing pro Ripple, that also discussed pro Pirateat40 a year ago. Good luck.

For the undecided of you think of being a very rich person, like Warren Buffet, or Dagobert Duck. Would they decide to put their assets into the Ripple system? They own real assets, like shares, gold, Bitcoins, but never derivatives in the long run.

The thing I love about ripple is the more you know about it, the more repulsive it becomes. More people understanding it for what it is and all the flaws in its system, the faster its demise.

You can run a free not for profit node if you want to. Just ask for the source and do it. The network isn't centralized, hence why it has nodes... Transactions can't be reverse, the ledger is public and verifiable.


Ripple has been around since mid 2010. They are bitcoiners, Jed created MtGox and Ripple. They hold Bitcoin themselves. They wouldn't be capable of DDoSing or manipulating the price of BitCoin, and it would be adverse to them even if they could.

I've never seen heard or met one paid infiltrator, name one.

The key issues are Ripple is an IOU debt system, not just an exchange system,  the nodes are privately owned for profit, and the Ripple network is centralized with a transaction reversal capability. All these things fly in the face of the primary Bitcoin design decisions. Anyone who doubts this should read Satoshi Nakamiri's white paper on Bitcoin which can be found here http://bitcoin.org/bitcoin.pdf the opening paragraphs says it all.



Lets talk about OpenCoin's ethics. It's a deliberate ploy, on a naive public, to use a name like OpenCoin for a closed proprietary debt network, and try to talk about it in the same sentence as Bitcoin.  Using underhand tactics such as paid infiltrators from OpenCoin to forums, conferences and other social media, makes me think they might also be behind some of the recent DDoS attacks on Bitcoin nodes and exchanges, plus some of the bot driven trade manipulations to try and keep down the price of BTC.

You can get it for free from the giveaway, just go to ripple.com or post in the thread on bitcointalk. It's more than a lifetimes supply of XRP. Hell I'll even give you some too, as I do anybody else who wants to test ripple.


It's needed in the same way bitcoin transfer fees are needed, it supports the network. It also supports the development of rippled in the initial stages, although they are getting VC funding, and yes some of them may get rich, who cares, should satoshi, tim berners-lee, or anybody else who's created something on a global scale not get rich too?

anybody who has the source realises that by giving it out you may be risking people's money if it has a vulnerability or a critical bug left as yet unfound, I personally don't want to take that risk, and I'm pleased nobody else (thus far) does either. I'm a major opensource advocate, and unlicense + royalty free everything I do, but in this case, I understand why it is not yet available on mass.


With ill informed discussions and a sponsored smear campaign, I'm unsurprised.

That's a fair, but quite strong, opinion.

Worth remembering that Jed who created ripple also created MtGox, that most people involved are bitcoiners, and that XRP the currency doesn't really matter, Ripple 1 (ripplepay.com) and Ripple 2 (ripple.com) can both be used without needing to pay, for the ripple 2, you can acquire a lifetimes supply of XRP for free easily, and use the ripple system to faciliate the fluidity of your currencies,  and form your own trust networks.

Regarding control, the second RippleD is released to the masses, it's already available on request and I know several people with server daemons running, all those arguments are invalid. Regarding centralization, it's decentralized and you can use any currency, even make up your own. You should do some reasearch and checkout ripplepay.com, and the ripple wiki, check the history and motives behind it's creation, before naively believing everything you read.

You need to Google the meaning of decentralized and then provide us the source code for ripple..

This is what ripple is in my opinion. It is a company (Open Coin), backed by venture capitalists and rich silicon valley types. They looked at bitcoin and asked,"What's the best way for us to profit from it?"

Their solution was to make an alternate system which they would control. They also decided to create 100 billion xrp, of which their company would hold 50 billion or half.

Ripple is nothing more than some rich people trying to hijack the crypto-currency movement for their own profit. It is completely antithetical to the whole idea behind cryptocurrencies, which is wrenching control of OUR money from central banks and banksters. Ripple just replaces central banks with Open Coin. The whole thing stinks and their system sucks. You wanna place yourself back under a centralized system under somebody else's control then use (c)ripple.

Just like a bitcoin fee does. Opencoin can do that, but XRP are not currencies it just has the properties of a crypto-currency. So mt gox is closed sourced and not decentralized but people still use it. I think your still confused about Ripples and I wish you would stay and learn and maybe change your view.

XRP is a utility of the network, it prevents network spam, and applies a small cost to each entry in the ledger. 10 drops. Roughly 1 XRP has the value of, and is the fee for, 10k-100k entries in the ripple ledger (10k-100k transactions). All fees are destroyed, reducing the overall number of XRP over time, increasing it's value.

If you think ripple will gain significant adoption as a clearing system, then you can figure out the value of 10-100k ledger entries yourself and place that as your value of 1 XRP long term.


You just ask them for the source, show you actually want to develop ripple things / contribute not undermine, and you'll get it.

You can also develop using the APIs, which is the approach I've personally taken.

I changed my post. I read it as xrp is decentralized which it most diffidently is not. Sorry for that. My question is why xrp at all?!?!?!?!

I would be behind ripple without xrp...maybe.

Its like microsoft points. If you want to use their service you must transfer all of your money into our money for which we control every aspect of. Why would anyone ever do that?!?!?!

Wrong their website says never says that been looking for 5 minutes. This is what they have to say

"Ripple is an open platform that lets you build payments and commerce solutions for all currencies and virtual currencies, including Bitcoin. Our goal is to integrate virtual currencies into all payment platforms and make money transfers easy and free for the world – join the movement."

Under the developers page..... What do they want people to develop?!?!?!?!?!?

Indeed it is, spread you lies elsewhere, you can demonstrate this in the client in about 2 seconds by changing the server from s1 to s2, and noticing that all the gateways run there own rippled's.

Regarding being paid, I have certainly never been paid anything in any currency from anybody with regards to ripple, indeed I've never even received an XRP giveaway!

Conversely, TradeFortress is paying people to ruin ripple, he runs adverts on the forums, pays people to spread fud, and has openly stated many times he will destroy ripple even if it costs him millions of USD. I don't know if this is a personal attack due to disagreements with the founder of OpenCoin and creator of Ripple, or because fee-less social lending would be slightly detrimental to his coinlending business. But it's sad for sure, as it could facilitate his business easily.

Ripple is a new promising technology and approach to things, as is OpenTransactions, whether you want the OpenCoin implementations, or whether you want to create your own version of it. It sets the bar high.

There will be a whole host of uninformed or sponsored and ill mannered reactions to this reply, as with all others, so I'll only reply to the OP directly if you have any more questions.

FWIW, I'm totally unaffiliated, hold multiple different currencies, and have had a keen interest in payment systems for many years now. I think ripple coule be better, but I'm glad to see what's there being used effectively. PaySwarm (Standardized) and OpenTransactions are two others to check out.

i have read and seen all the ripple post popping up this is why its pissing me off. If ripple was liget they would not have to pay people to promote and lie about it.

If you read the link I posted earlier, OpenCoin employees are on Bitcoin forums, chat, conferences, trying to suck people in to being ripple customers.
 

Ripple is effectively a decentralized clearing system which works with any currency. Ripple has been a project for many years. Ripple 2 as you may call it, is fairly new, and the currency XRP is distinct from Ripple.

RippleD is the server, it manages the distributed public ledger, there are currently a handful of RippleD servers running. It is not generally available, but it is available on request. From people I've spoken to who have RippleD server source currently, they are confident that it does what it says on the tin, but the code could be a little better, and it would be wise to run it for a little longer to ensure it has no bugs which could cost people any $. Certainly in the past few months whilst I've used it, no such bugs or security vuln have been found, two ledger corruption bugs in last month or so have been found/.

OpenCoin who make ripple, have a list of repos, and all client code and interfacing libraries are already open sourced and generally available.

It's perhaps fair to think of the Ripple ledger as fulfilling the same role as the blockchain of bitcoin.

Ripple compliments Bitcoin and other currencies, enable fluid transfer of them between users and gateways, or networks of, who trust each other. It is used in this capacity already, indeed that's all ripple 1 was, and it works very nicely.

Ripple comes under attack quite a lot because it enables social lending without fees, because the server is not fully open sourced, and because it is operated by a company OpenCoin, who critically, also distribute the currency XRP.

XRP is a currency which is a utility of the ripple network. Each transaction on the network, each entry in the ledger, cost 0.00001 XRP, this is a rate which is variable when servers agree to change it together. So the value of one XRP can be seen roughly as the cost of 10k-100k entries on the ripple ledger. All 0.00001 fees are destroyed, thus reducing the number of XRP available over time, and increasing it's value.

As XRP is a currency, it's open to speculation. Speculation in the natural style, and based on calculating whether you think Ripple will be successful long term as a clearance system, and then thinking what the cost of 10-100k transaction may be in $ terms.

Seriously no lies? Their website claims they are open source. They are not. Lieing about your code being open sourced it a terrible thing to do. I would never trust anything thatclaims to be open source when it in fact is closed source and copyrighted.

If ripple had nothing to hide they would make page about how it works. They do not becasue they want you to think its open source and not complete bullshit. I have never had a problem with ripple until tonight when I sign in to see people trying to promote it everywhere.

Again if opencoin didnt have anything to hide they would come out with an easy to understand video/ paper to explain how it works and make it open source. Not lie about it being open source and leave it to the bagholders to explain to others what it is. Ripple will never be open source. They are a for profit company who are making money off all of its users

Maybe your not a troll but you have no idea what you are talking about. You do not own that btc. You own debt If you buy xrp with btc you have paid off someone else's debt. After sifting through all the lies about it being open sourced that is what I finally realized they were trying to prevent you from knowing.