Topic: HELP: have some difficulties to fully understand Ripple... (Read 1685 times)
Speed of Ripple's transactions are mindblowing. And if Paypal indeed wants to enable trading in Ripples, its price is going to boost into strathosphere.
Makes sense. I think the Ripple concept has lot of potential and I'm hesitant to make too many criticisms because I do understand they are still in Beta. That said, your point is well taken. Thanks for shedding some light on all of this. I'm waiting on a starter pack so I can actually give it a go. Should know more after that and the fact that I have to do that, is my biggest gripe.
There is sort of a bubble currently growing and thanks to OpenCoin's dysfunctionality they did nothing yet.
When they finally wake up or decide to issue the next round of giveaway the price will probably fall.
But it's hard to predict. It can continue to rise. Just too many uncertainties...
When they finally wake up or decide to issue the next round of giveaway the price will probably fall.
But it's hard to predict. It can continue to rise. Just too many uncertainties...
That sounds more like it. I'd like to get a definitive answer on that so I can be absolutely sure but my thanks to you. I saw you over at the Ripple forums, so I know you've been engaged in Ripple. (Meaning not just some driveby poster._ 
I can't give you an authoritative answer on that, sorry, but this confusion persists for quite some time and it confused me at first too.
Somebody just got their numbers backwards
I know right?
I think you nailed it. I was just reading a thread over there and someone referred to the pricing in the same manner as you. It wasen't a direct converstation on what I asked but the mention was something like, "...65 XRP to $1 USD"...in the context of their converstation. Not to mention, the math mostly works especially when looking at what Bitstamp is charging for XRP. And actually at current prices, they're coming a little short at 50XRP/$1. That sounds more like it. I'd like to get a definitive answer on that so I can be absolutely sure but my thanks to you. I saw you over at the Ripple forums, so I know you've been engaged in Ripple. (Meaning not just some driveby poster._
I can't give you an authoritative answer on that, sorry, but this confusion persists for quite some time and it confused me at first too.
Somebody just got their numbers backwards
I think it's 70 xrps per usd and 8990 per btc
That sounds more like it. I'd like to get a definitive answer on that so I can be absolutely sure but my thanks to you. I saw you over at the Ripple forums, so I know you've been engaged in Ripple. (Meaning not just some driveby poster._
I think it's 70 xrps per usd and 8990 per btc
I'm having trouble understanding the charts at Ripplecharts.com. Watching Bitcoin at other places is pretty straight forward. I have no idea what I'm looking at here. For instance:
BTC:Bitstamp 8990
USD Bitstamp 70
8990 what? 70 what?
Can't be $70 per XRP and certainly not $8990. Can anyone explain how to properly look at this? Thanks~
BTC:Bitstamp 8990
USD Bitstamp 70
8990 what? 70 what?
Can't be $70 per XRP and certainly not $8990. Can anyone explain how to properly look at this? Thanks~
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HELP: have some difficulties to fully understand Ripple...
I think that's by design.
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HELP: have some difficulties to fully understand Ripple...
I think that's by design.
Right... Except he was doing it alone in his basement with difficulty 1. I fail to see the difference between such mining and pre-mining.
He was doing it with his fellow early adopters with an appropriate difficulty for the time.
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Pre-mined currencies have always failed. XRP will be no different. Ripple as a concept will succeed, but XRP will not. Don't invest any more than you can afford to lose.
That's more of a world view than an argument, so I guess there is no need to respond to that. We will see.
That's more of a world view than an argument, so I guess there is no need to respond to that. We will see.
It's backed up by history.
I made my statement based on my careful study of Ripple's so-called wiki which looks like a graffiti by teenagers, now your turn to answer my question in the first sentence.
Somehow I think no amount of rational argument will change your hate-based position. If you had really studied the "graffiti-by-teenagers" wiki, I wouldn't have to tell you the advantages over both banks and bitcoin.
So I don't see any further point of talking to you.
Yeah, the " if you don't know go read a book" argument always wins, no surprise here.
Even let's suppose I were full of hatred towards Ripple, the supposed "rational argument" you post can at least educate some readers without hate-based opinion, as my question is still valid, you can answer it without convincing me.
I made my statement based on my careful study of Ripple's so-called wiki which looks like a graffiti by teenagers, now your turn to answer my question in the first sentence.
Somehow I think no amount of rational argument will change your hate-based position. If you had really studied the "graffiti-by-teenagers" wiki, I wouldn't have to tell you the advantages over both banks and bitcoin.
So I don't see any further point of talking to you.
You're nit-picking my words out of context, read what I wrote again.
I wrote what about SWIFT as an example of successful system based on cooperation and you wrote that banks sucks, so no, can't take this system as an example. How is that nit-picking or taking words out of context?
The essence is the banking system at least sucks in some aspects,
No arguing there. Everything sucks in some aspects...
otherwise Bitcoin would not have been attractive, it has to do certain things many times better to mitigate the sunk costs. Unlike Ripple, which basically tries to go to the bank's home court and play by their rules and hope to win, hmmm....
You are arguing out of your own ignorance. Ripple has even more advantages than Bitcoin, if only you take time to actually study how it works, instead of simply dismissing it based on hate that developers will get some money for their hard work...
You still failed to tell me what advantages does it have over the banking network to justify the transition? If I were to process my transactions centrally I would rather go to some certified professionals rather than some random validators over the internet who are potentially not subjected to any regulation. Don't even compare with Bitcoin in terms of advantages, if you think a centralized system and a decentralized system can be comparable that way you are talking out of your ignorance-Ripple can only be thus compared with a centralized system like the banks. I made my statement based on my careful study of Ripple's so-called wiki which looks like a graffiti by teenagers, now your turn to answer my question in the first sentence.
Satoshi mined his bitcoins like everybody else.
Right... Except he was doing it alone in his basement with difficulty 1. I fail to see the difference between such mining and pre-mining.
Pre-mined currencies have always failed. XRP will be no different. Ripple as a concept will succeed, but XRP will not. Don't invest any more than you can afford to lose.
That's more of a world view than an argument, so I guess there is no need to respond to that. We will see.
You're nit-picking my words out of context, read what I wrote again.
I wrote what about SWIFT as an example of successful system based on cooperation and you wrote that banks sucks, so no, can't take this system as an example. How is that nit-picking or taking words out of context?
The essence is the banking system at least sucks in some aspects,
No arguing there. Everything sucks in some aspects...
otherwise Bitcoin would not have been attractive, it has to do certain things many times better to mitigate the sunk costs. Unlike Ripple, which basically tries to go to the bank's home court and play by their rules and hope to win, hmmm....
You are arguing out of your own ignorance. Ripple has even more advantages than Bitcoin, if only you take time to actually study how it works, instead of simply dismissing it based on hate that developers will get some money for their hard work...
Ripple promoters are basically acting as slave labor on behalf of OpenCoin for a paltry sum of XRP. There are more kids looking to get rich quick than brains in the cryptocurrency community.
That is very presumptuous.
Satohi does hold a hell of lot of bitcoins, doesn't he? How OpenCoin's holdings are different?
They maybe waiting to open source to help them secure leadership, but so what? Do you want them instead to work hard and write a complex system and then give it to you for free before themselves? So you can then beat them as a competitor and they are left with nothing? What a nice present that would be.
They work hard, they get rich. Seems fair to me.
Satoshi mined his bitcoins like everybody else. Pre-mined currencies have always failed. XRP will be no different. Ripple as a concept will succeed, but XRP will not. Don't invest any more than you can afford to lose.
The problem is will there ever be one day the system works well
Well, unless somebody has a crystal ball, nobody knows. We can speculate, but what will actually happen can only be know once it actually happens
Exactly what I meant, banks/clearing houses suck, that's why Bitcoin was created. And you want to reinvent the wheel by replicating what the banking system has done, good luck with that.
You are like a teenage girl at the Occupy Wall Street - shaking here iPhone in anger and shouting how corporations suck.
Do you have any idea how much your life is better because of banks? And to just dismiss them as "banks suck"? What kind of naive "argument" is that?
You're nit-picking my words out of context, read what I wrote again. The essence is the banking system at least sucks in some aspects, otherwise Bitcoin would not have been attractive, it has to do certain things many times better to mitigate the sunk costs. Unlike Ripple, which basically tries to go to the bank's home court and play by their rules and hope to win, hmmm....
EDIT: Oh, I forgot, there is one difference between the Ripple and the banking network-your Ripple transaction "contract" is not legally enforceable.
No technical guarantee.
And you base it on what? Not reading their wiki?
The problem is will there ever be one day the system works well
Well, unless somebody has a crystal ball, nobody knows. We can speculate, but what will actually happen can only be known once it actually happens
Exactly what I meant, banks/clearing houses suck, that's why Bitcoin was created. And you want to reinvent the wheel by replicating what the banking system has done, good luck with that.
You are like a teenage girl at the Occupy Wall Street - shaking here iPhone in anger and shouting how corporations suck.
Do you have any idea how much your life is better because of banks? And to just dismiss them as "banks suck"? What kind of naive "argument" is that?
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