Author

Topic: I just don't understand Ripple (Read 613 times)

hero member
Activity: 868
Merit: 1000
February 22, 2013, 04:10:37 AM
#5
I'm under the impression that it's basically just Hawala.  But I'm not too familiar with either, really.

Sort of.  It's got some elements of hawala and some elements of LETS.  It allows existing trust networks like LETS and hawala to link together and create and access a much larger network.
legendary
Activity: 1330
Merit: 1000
February 22, 2013, 04:03:44 AM
#4
I'm under the impression that it's basically just Hawala.  But I'm not too familiar with either, really.
legendary
Activity: 2100
Merit: 1040
A Great Time to Start Something!
February 22, 2013, 02:22:21 AM
#3
If you already have money in the system, then the transfer is fast and easy.
If not, you need to use a "gateway" to deposit money.

How does he 'cash out' of Ripple?

Through a Gateway, of course.   Cheesy
Please send "an arm and a leg" worth of BTC to the address in my sig and I will teach you more, thanks.
legendary
Activity: 1330
Merit: 1000
Bitcoin
February 22, 2013, 01:50:49 AM
#2
How does Ripple 'deliver' my $100 from Arkansas to my brother-in-law in Korea?  How does he 'cash out' of Ripple?

If I tell you I'll have to kill you.
legendary
Activity: 1291
Merit: 1000
February 21, 2013, 07:19:32 PM
#1
How does Ripple 'deliver' my $100 from Arkansas to my brother-in-law in Korea?  How does he 'cash out' of Ripple?
Jump to: