Topic: Don't trust ripple! It's a get rich quick scheme for the creators. - page 3. (Read 6390 times)
April 18, 2013, 06:46:43 PM
How can you be sure?
April 18, 2013, 06:06:55 PM
Quote
You're right, it's clearly impossible to do. Nobody has ever written an open source p2p protocol that has changed. Or they could just inform people that the network is still in it's infancy and as changes are made nodes that do not upgrade will be dropped. Kind of like the mandatory 0.8.1 bitcoin client upgrade.
That update allowed some people to engage in double spending. It not an example of a seamingless transition. 
April 18, 2013, 02:02:54 PM
Yes Ive known Ripple was doomed from inception.
Of course it was made to make money, it was one of the first ALTs that was created by a company. What do companies try to do? Make profit!
I never even signed up for free XRPs because I thought the whole thing was stupid.
Of course it was made to make money, it was one of the first ALTs that was created by a company. What do companies try to do? Make profit!
I never even signed up for free XRPs because I thought the whole thing was stupid.
April 18, 2013, 01:55:10 PM
So the consensus is that investing in xrp is a bad idea - then don't.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
How? xrp are clearly worthless, so how will they become millionaires?
XRP are worthless, yet the stated purpose of them is as an anti-spam measure. For them to work as an anti-spam measure, by definition, they must have value. So which is it? Are they worthless or are they an anti-spam measure?
Give me your ripple address and I'll send 300 for free - enough for a lifetime of use. It's a waste of my time but worth it to make a point.
I understand that at this point in time 300 XRP is essentially worthless, just like 10,000 BTC was worth 2 pizzas in 2010. But for XRP to fulfill it's intended purpose, it must have value. The founders know this, and that is why they kept 20 billion XRP.
Tell me, why would they keep the 20 billion XRP if it was worthless? It's worthless, just give it all away! They can just keep 300 XRP for themselves, because that's all they need to start an account. Oh yeah, but then they can't cash in on it and make millions of dollars.
They kept it so that you would complain. They kept it to make it worthless - you've already decided clearly it's a bad investment, and you are right. Why make them rich? It's worthless.
It can't be worthless and used for anti-spam at the same time. Make up your mind, which is it?
So if it's worth something why not invest in it?
Because it's a scam by the founders to get rich quickly and I don't want to support that? From what everyone is saying, the whole thing could work without XRP even being involved. Why not just use a captcha as an anti-spam measure instead of creating a whole new currency? Every other website in the world just uses captchas. Oh yeah, because you can't get 200 million dollars by implementing a captcha.
April 18, 2013, 01:42:56 PM
So the consensus is that investing in xrp is a bad idea - then don't.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
How? xrp are clearly worthless, so how will they become millionaires?
XRP are worthless, yet the stated purpose of them is as an anti-spam measure. For them to work as an anti-spam measure, by definition, they must have value. So which is it? Are they worthless or are they an anti-spam measure?
Give me your ripple address and I'll send 300 for free - enough for a lifetime of use. It's a waste of my time but worth it to make a point.
I understand that at this point in time 300 XRP is essentially worthless, just like 10,000 BTC was worth 2 pizzas in 2010. But for XRP to fulfill it's intended purpose, it must have value. The founders know this, and that is why they kept 20 billion XRP.
Tell me, why would they keep the 20 billion XRP if it was worthless? It's worthless, just give it all away! They can just keep 300 XRP for themselves, because that's all they need to start an account. Oh yeah, but then they can't cash in on it and make millions of dollars.
They kept it so that you would complain. They kept it to make it worthless - you've already decided clearly it's a bad investment, and you are right. Why make them rich? It's worthless.
It can't be worthless and used for anti-spam at the same time. Make up your mind, which is it?
So if it's worth something why not invest in it?
April 18, 2013, 01:41:33 PM
Please don't get sucked into this scam people. So many warnings that some people decide to ignore.
April 18, 2013, 01:34:48 PM
So the consensus is that investing in xrp is a bad idea - then don't.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
How? xrp are clearly worthless, so how will they become millionaires?
XRP are worthless, yet the stated purpose of them is as an anti-spam measure. For them to work as an anti-spam measure, by definition, they must have value. So which is it? Are they worthless or are they an anti-spam measure?
Give me your ripple address and I'll send 300 for free - enough for a lifetime of use. It's a waste of my time but worth it to make a point.
I understand that at this point in time 300 XRP is essentially worthless, just like 10,000 BTC was worth 2 pizzas in 2010. But for XRP to fulfill it's intended purpose, it must have value. The founders know this, and that is why they kept 20 billion XRP.
Tell me, why would they keep the 20 billion XRP if it was worthless? It's worthless, just give it all away! They can just keep 300 XRP for themselves, because that's all they need to start an account. Oh yeah, but then they can't cash in on it and make millions of dollars.
They kept it so that you would complain. They kept it to make it worthless - you've already decided clearly it's a bad investment, and you are right. Why make them rich? It's worthless.
It can't be worthless and used for anti-spam at the same time. Make up your mind, which is it?
April 18, 2013, 01:32:49 PM
So the consensus is that investing in xrp is a bad idea - then don't.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
How? xrp are clearly worthless, so how will they become millionaires?
XRP are worthless, yet the stated purpose of them is as an anti-spam measure. For them to work as an anti-spam measure, by definition, they must have value. So which is it? Are they worthless or are they an anti-spam measure?
Give me your ripple address and I'll send 300 for free - enough for a lifetime of use. It's a waste of my time but worth it to make a point.
I understand that at this point in time 300 XRP is essentially worthless, just like 10,000 BTC was worth 2 pizzas in 2010. But for XRP to fulfill it's intended purpose, it must have value. The founders know this, and that is why they kept 20 billion XRP.
Tell me, why would they keep the 20 billion XRP if it was worthless? It's worthless, just give it all away! They can just keep 300 XRP for themselves, because that's all they need to start an account. Oh yeah, but then they can't cash in on it and make millions of dollars.
They kept it so that you would complain. They kept it to make it worthless - you've already decided clearly it's a bad investment, and you are right. Why make them rich? It's worthless.
April 18, 2013, 01:31:40 PM
Tell me, why would they keep the 20 billion XRP if it was worthless? It's worthless, just give it all away! They can just keep 300 XRP for themselves, because that's all they need to start an account. Oh yeah, but then they can't cash in on it and make millions of dollars.
Did you read my post regarding enrichment of the founders? Clearly not.
You're a troll.
April 18, 2013, 01:27:25 PM
So the consensus is that investing in xrp is a bad idea - then don't.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
How? xrp are clearly worthless, so how will they become millionaires?
XRP are worthless, yet the stated purpose of them is as an anti-spam measure. For them to work as an anti-spam measure, by definition, they must have value. So which is it? Are they worthless or are they an anti-spam measure?
Give me your ripple address and I'll send 300 for free - enough for a lifetime of use. It's a waste of my time but worth it to make a point.
I understand that at this point in time 300 XRP is essentially worthless, just like 10,000 BTC was worth 2 pizzas in 2010. But for XRP to fulfill it's intended purpose, it must have value. The founders know this, and that is why they kept 20 billion XRP.
Tell me, why would they keep the 20 billion XRP if it was worthless? It's worthless, just give it all away! They can just keep 300 XRP for themselves, because that's all they need to start an account. Oh yeah, but then they can't cash in on it and make millions of dollars.
April 18, 2013, 01:23:51 PM
So the consensus is that investing in xrp is a bad idea - then don't.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
How? xrp are clearly worthless, so how will they become millionaires?
XRP are worthless, yet the stated purpose of them is as an anti-spam measure. For them to work as an anti-spam measure, by definition, they must have value. So which is it? Are they worthless or are they an anti-spam measure?
Give me your ripple address and I'll send 300 for free - enough for a lifetime of use. It's a waste of my time but worth it to make a point.
April 18, 2013, 01:17:14 PM
Please explain to me how it's more difficult for an open source project to provide patches and updates than a closed source one. Linux, for example, is much more frequently updated than Mac OS X or Windows, yet Linux is open source and Mac OS X and Windows are closed source.
If you are running an older version of Linux, it doesn't affect my version.
But with peer to peer software, since all nodes communicate with each other if there's a change in the wire protocol or a change in the behavior of a message, everyone needs to upgrade. In Ripple, people who don't upgrade would have to be manually removed from the trusted nodes list, and their connections dropped. This would disrupt the network overlay and could make it difficult for the web based client to find nodes.
You're right, it's clearly impossible to do. Nobody has ever written an open source p2p protocol that has changed. Or they could just inform people that the network is still in it's infancy and as changes are made nodes that do not upgrade will be dropped. Kind of like the mandatory 0.8.1 bitcoin client upgrade.
Quote
There is no real reason to keep it closed source at this point except for worries of forks. Well guess what? FORKS ARE GOOD FOR THE PROTOCOL! They're good for the community, they're good for everyone EXCEPT OpenCoin, Inc. Competition is healthy, and the fact that OpenCoin, Inc wants to hinder it until they're guaranteed to make a ton of money just shows how little they care about the protocol and how much they care about money.
Looking over the wiki (at https://ripple.com/wiki/Main_Page), you would have a difficult time convincing me that OpenCoin cares little about the protocol. In fact, Ripple is more well documentation has a more well defined specification than Bitcoin! Are you aware that the OpenCoin developers write the specs in the wiki first before committing to adding the code? Here's an example: https://ripple.com/wiki/Services_API#Federation_protocol
The fact that they won't let anyone else work on their protocol shows how much they care about it. Do they really think that the combined wisdom of the entire internet can not improve their protocol at all? Do you really think that?
April 18, 2013, 01:14:10 PM
Then why have XRP at all? Oh yeah, to prevent spam. But to prevent spam it must have value. So then if XRP has value, XRP is like a currency, plain and simple.
No one is disputing that but at this point you're restating things that have already been said. By me, in fact.
Here's the link to my original post:
Ripple: Disproportionate enrichment of the founders of the system?
And I'll repeat the text since you can't be bothered to click the link:
_______________________________________________________________________________ _____
Note: The following analysis assumes that the Ripple system eventually becomes open sourced, gets decentralized, and that rigorous mathematical analysis proves that the system is robust and fulfills its technical promises.
From the Ripple wiki
So, can we get a straight answer?
...
Unfortunately, no. I am prohibited from discussing that....
This analysis brings us to one very disturbing conclusion:
The founders of Ripple will control over 99% of the purchasing power of XRPs for hundreds if not thousands of years.
Despite the lack of any significant goods and services enabled by the fledgling Ripple network recently opened to the public, there is already a robust trade in XRPs for other currencies like Bitcoin, US dollars, and foreign currencies:
To preserve XRPs function as an spam prevention, OpenCoin foundation must maintain the scarcity of XRPs by limiting their supply. This is also what creates the market for XRPs and gives them value. It is not possible to have XRPs be both worthless and also useful for preventing spam.
Combine all these facts with the odd statements and the carefully managed customer-facing facade of OpenCoin representatives and we have all the volatile ingredients necessary for the Next Big Cryptocurrency Drama.
April 18, 2013, 01:11:38 PM
Please explain to me how it's more difficult for an open source project to provide patches and updates than a closed source one. Linux, for example, is much more frequently updated than Mac OS X or Windows, yet Linux is open source and Mac OS X and Windows are closed source.
If you are running an older version of Linux, it doesn't affect my version.
But with peer to peer software, since all nodes communicate with each other if there's a change in the wire protocol or a change in the behavior of a message, everyone needs to upgrade. In Ripple, people who don't upgrade would have to be manually removed from the trusted nodes list, and their connections dropped. This would disrupt the network overlay and could make it difficult for the web based client to find nodes.
Quote
There is no real reason to keep it closed source at this point except for worries of forks. Well guess what? FORKS ARE GOOD FOR THE PROTOCOL! They're good for the community, they're good for everyone EXCEPT OpenCoin, Inc. Competition is healthy, and the fact that OpenCoin, Inc wants to hinder it until they're guaranteed to make a ton of money just shows how little they care about the protocol and how much they care about money.
Looking over the wiki (at https://ripple.com/wiki/Main_Page), you would have a difficult time convincing me that OpenCoin cares little about the protocol. In fact, Ripple is more well documented has a more well defined specification than Bitcoin! Are you aware that the OpenCoin developers write the specs in the wiki first before committing to adding the code? Here's an example: https://ripple.com/wiki/Services_API#Federation_protocol
April 18, 2013, 01:11:31 PM
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
You've ignored the fact that you can do useful, productive things without using the XRP currencyThen why have XRP at all? Oh yeah, to prevent spam. But to prevent spam it must have value. So then if XRP has value, XRP is like a currency, plain and simple. You're right misterbigg, XRP has no purpose. Except to make the founders rich.
April 18, 2013, 01:09:41 PM
So the consensus is that investing in xrp is a bad idea - then don't.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
How? xrp are clearly worthless, so how will they become millionaires?
XRP are worthless, yet the stated purpose of them is as an anti-spam measure. For them to work as an anti-spam measure, by definition, they must have value. So which is it? Are they worthless or are they an anti-spam measure?
April 18, 2013, 01:08:05 PM
It is perfectly rational to expect that OpenCoin is hesitant to release unfinished software which is still in beta, if doing so would make it difficult to provide patches and updates.
Please explain to me how it's more difficult for an open source project to provide patches and updates than a closed source one. Linux, for example, is much more frequently updated than Mac OS X or Windows, yet Linux is open source and Mac OS X and Windows are closed source.
If they label the software as "beta" and explain that it can and will change at any time, I people will not expect things like backwards compatibility.
There is no real reason to keep it closed source at this point except for worries of forks. Well guess what? FORKS ARE GOOD FOR THE PROTOCOL! They're good for the community, they're good for everyone EXCEPT OpenCoin, Inc. Competition is healthy, and the fact that OpenCoin, Inc wants to hinder it until they're guaranteed to make a ton of money just shows how little they care about the protocol and how much they care about money.
April 18, 2013, 01:06:37 PM
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
You've ignored the fact that you can do useful, productive things without using the XRP currency, and instead choose to just run around saying "its a scam, its a scam." Me and others have provided clear, factual reasons why Ripple is useful but you choose to ignore it.
At this point it's clear that you're not adding anything productive to the conversation and now only trolling.
April 18, 2013, 01:04:50 PM
So the consensus is that investing in xrp is a bad idea - then don't.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
How? xrp are clearly worthless, so how will they become millionaires?
April 18, 2013, 12:57:59 PM
So the consensus is that investing in xrp is a bad idea - then don't.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
It has nothing to do with using ripple - you just need 300xrp to make hundreds of thousands of transactions in whatever currency you choose, including bitcoin. You just need to trust the gateway you use.
xrp is a bad investment by design. you only need a trivial amount of xrp to use ripple.
You don't need to invest in xrp to use ripple.
This doesn't change the fact that Ripple is nothing more than a vehicle to make the founders millions of dollars.
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