MtGox is not Bitcoin, but the topic here is about MtGox, not Bitcoin, right?
Ripple can be (and likely will be) made decentralized. If you currently have an issue with this, please check again in 1 year and then let's see who is more decentralized: MtGox or Ripple.
In Bitcoin you send something that has 0 value but can be sold if someone else wants to give you something for it.
Ripple lets you trade debt instead that might go bad etc. but that has some value. You might however have a hard time finding someone who accepts that debt, depending on who has issued it.
MtGox works rather like Ripple, once you transfer money to them, they issue "MtGox-USD" and "MtGox-BTC" debt to you that can be traded and redeemed for fees. If you buy BTC there, you actually did NOT trade BTC, you bought debt from MtGox towards you in BTC. You don't get anything of this value actually credited until you decide to settle the debt and force MtGox to send you the BTC to your wallet. Until then you only send/own/trade debt.
Ripple is not really a currency (XRPs are more like postage stamps than a "coin"), it is more of a decentralized exchange software and system. It makes more sense in comparing it to MtGox than Bitcoin.
Topic: Conflict of interest? Mtgox and Ripple (Read 1876 times)
Ripple is centralized.
MtGox is too. Ripple can more easily be made decentralized than MtGox and there are actual plans to do so, compared to MtGox.Ripple is not open source despite what they say.
The server currently isn't but will be, the principles behind are already better documented than anything on MtGox.The client is already OpenSource.
Ripple is 100% premined.
XRP are premined, Ripple itself is (just like Bitcoin) more than just a currency. Also, besides a few hundred XRP you can use Ripple without needing them ever again. Currently you get far more than you will ever need in your lifetime for free in this forum.But bitcoin isn't centralized. The exchange part is always going to be somewhat centralized - doesn't matter if you use otc (IRC operators, OTC orderbook etc), or an exchange. But the network itself is centralized.
The client is open source? The client is not a full client, it is a light node. The server / full node is closed source and is centralized.
Plus, in Ripple you cannot send money or bitcoins, you can only send debt.
Ripple is centralized.
MtGox is too. Ripple can more easily be made decentralized than MtGox and there are actual plans to do so, compared to MtGox.Ripple is centralized.
MtGox is too. Ripple can more easily be made decentralized than MtGox and there are actual plans to do so, compared to MtGox.Ripple is not open source despite what they say.
The server currently isn't but will be, the principles behind are already better documented than anything on MtGox.The client is already OpenSource.
Ripple is 100% premined.
XRP are premined, Ripple itself is (just like Bitcoin) more than just a currency. Also, besides a few hundred XRP you can use Ripple without needing them ever again. Currently you get far more than you will ever need in your lifetime for free in this forum.
Ripple is centralized.
Ripple is not open source despite what they say.
Ripple is 100% premined.
Ripple is not open source despite what they say.
Ripple is 100% premined.
spot on
Ripple is centralized.
Ripple is not open source despite what they say.
Ripple is 100% premined.
Ripple is not open source despite what they say.
Ripple is 100% premined.
ripple is not like bitcoin
If it allows near free transfer of fiat to anyone, anywhere, anytime, then doesn't that remove one of the primary advantages of bitcoin?
What gorunds would we have to sell merchants on bitcoin?
ripple is not like bitcoin
Founder != owner...
Bitcoin and Ripple are competing crypto currencies, are the not?
I see it as a huge mistake that the owner of Mtgox also owns Ripple. Think about it. He could easily destabilize bitcoin (or further destabalize) bitcoin to make Ripple look like the better option to the masses. He doesn't care, as long as there is exchange on Gox and users participating in Ripple.
https://www.youtube.com/watch?v=64G3n5sgZCY
I see it as a huge mistake that the owner of Mtgox also owns Ripple. Think about it. He could easily destabilize bitcoin (or further destabalize) bitcoin to make Ripple look like the better option to the masses. He doesn't care, as long as there is exchange on Gox and users participating in Ripple.
https://www.youtube.com/watch?v=64G3n5sgZCY
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