If Satoshi was like Ripple Labs | Bitcointalksearch.org

solid12345

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Quote from: BitmoreCoin on December 02, 2014, 07:54:48 AM

Satoshi did not premine or instamine the coins.

He "easy mined" them however. This IMO is the biggest bane of Bitcoin, that early adopters got mega payouts, not saying early adopters shouldn't get rewarded but the emission curve for BTC was silly and allowed a handful of people to take the lion's share of the coins, with alot less electricity and hardware investment I might add. If Bitcoin was meant to truly change the world then why is it in only 5 years since its existence do you need a mammoth mining farm to find blocks? There wasn't enough time for the real world to catch up to the technology and for the average "little guy" to get in and start mining and get a decent return. The difficulty rose too high too fast and too many percentage of coins were released out in the wild.

erre

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Quote from: BitmoreCoin on December 02, 2014, 07:54:48 AM

Quote from: gustav on November 28, 2014, 11:46:20 AM

neither bitcoin nor ripple are fit to be wide adopted currency because of the bad distribution. Something else, FAIR and with better distribution will come along. In the end not the most innovative crypto will be the biggest store of wealth but the one with the best distribution, the fairest. Bitcoin fails because of satoshis greed. It's harsh but that's reality.
People will ultimately not adopt a thing where one single person or group has such big control/influence as serious currency.

Just not going to happen. Collective wisdom and such.

Sorry to pop your pink bubble of dreams.

Satoshi did not premine or instamine the coins.

He did not. But the results are the same.
I won't worry about satoshi, but there's an oligarchy of " early adopters" who control most of the coins.
In my vision, this can'take be good and is currently the major problem of btc.

BitmoreCoin

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Quote from: gustav on November 28, 2014, 11:46:20 AM

neither bitcoin nor ripple are fit to be wide adopted currency because of the bad distribution. Something else, FAIR and with better distribution will come along. In the end not the most innovative crypto will be the biggest store of wealth but the one with the best distribution, the fairest. Bitcoin fails because of satoshis greed. It's harsh but that's reality.
People will ultimately not adopt a thing where one single person or group has such big control/influence as serious currency.

Just not going to happen. Collective wisdom and such.

Sorry to pop your pink bubble of dreams.

Satoshi did not premine or instamine the coins.

God27

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The 4th industrial revolution!

Quote from: gustav on November 28, 2014, 11:46:20 AM

neither bitcoin nor ripple are fit to be wide adopted currency because of the bad distribution. Something else, FAIR and with better distribution will come along. In the end not the most innovative crypto will be the biggest store of wealth but the one with the best distribution, the fairest. Bitcoin fails because of satoshis greed. It's harsh but that's reality.
People will ultimately not adopt a thing where one single person or group has such big control/influence as serious currency.

Just not going to happen. Collective wisdom and such.

Sorry to pop your pink bubble of dreams.

Well even if you don't believe we will distribute them fairly, whatever that means, why does that matter? Our goal is to build an open source payment network that anyone in the world can use, that allows people to send money around the internet practically nothing, and that allows people to store value in a non-inflating currency. Once we have done that do you really care if some people out there are rich? The fact that bill gates has way more USD than I do doesn't make USD any less useful to me.

That said we have a strong economic incentive to distribute the coins as fair as we can. We want to get as many people to have coins as possible. This is what will make the network viable. It doesn't help us to hoard all the coins if no one is using the network.

But if you don't believe we have our own economic interests in mind then just ignore xrp and just use ripple to send around other currencies. If you just do that you really shouldn't care what happens to our stash of xrp.

hypostatization

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Quote from: gustav on November 28, 2014, 11:46:20 AM

neither bitcoin nor ripple are fit to be wide adopted currency because of the bad distribution. Something else, FAIR and with better distribution will come along. In the end not the most innovative crypto will be the biggest store of wealth but the one with the best distribution, the fairest. Bitcoin fails because of satoshis greed. It's harsh but that's reality.
People will ultimately not adopt a thing where one single person or group has such big control/influence as serious currency.

Just not going to happen.

I disagree. Ripple is a network of many currencies, and XRP plays a special role in that system. Utility of the Ripple network for external currencies drives a need for XRP. Ripple enables you to more easily spend and exchange your preferred currency.

A great example of the utility Ripple provides to external currencies is the SmartyCash VISA card. Ripple integration enables BTC, LTC, JPY, CNY users to fund their card using cross-currency payment from those currencies. XRP, in a sense, acts as a universal currency translator.

I am also a huge fan of Bitcoin and do not see it going anywhere. I do not see the future of currency as a zero sum game. I hope for a future of many competing currencies. Multi-currency platforms will have an important role to play in that future. I expect Bitcoin, for reason of its existing value and passionate adoption, will continue to play a significant role in that world as well.

gustav

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neither bitcoin nor ripple are fit to be wide adopted currency because of the bad distribution. Something else, FAIR and with better distribution will come along. In the end not the most innovative crypto will be the biggest store of wealth but the one with the best distribution, the fairest. Bitcoin fails because of satoshis greed. It's harsh but that's reality.
People will ultimately not adopt a thing where one single person or group has such big control/influence as serious currency.

Just not going to happen. Collective wisdom and such.

Sorry to pop your pink bubble of dreams.

TaunSew

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Quote from: solid12345 on November 28, 2014, 02:49:32 AM

Quote from: Spoetnik on November 27, 2014, 06:16:24 PM

At least Satoshi earned them by mining them.
Ripple guys can not say the same..

Ripple = centralized scammy garbage cash grab

Microsoft is a cash grab, IBM is a cash grab, Facebook, Google, Nike, Toyota, they are all cash grabs.

Welcome to modern society.

Lol @ comparing Ripple to Microsoft and IBM.

Microsoft and IBM has hundreds of millions of customers over the decades. Ripple is just a con game involving thousands.

By the way - those companies pay a dividend to their stockholders, so they are not "cash grabs" like Ripple. Ripple wants you to exchange your real dollars and Bitcoins for magic internet XRP.

solid12345

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Quote from: Spoetnik on November 27, 2014, 06:16:24 PM

At least Satoshi earned them by mining them.
Ripple guys can not say the same..

Ripple = centralized scammy garbage cash grab

Microsoft is a cash grab, IBM is a cash grab, Facebook, Google, Nike, Toyota, they are all cash grabs.

Welcome to modern society.

BayAreaCoins

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Owner at AltQuick.com

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bahaha

princesultan1

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Quote from: Spoetnik on November 27, 2014, 06:16:24 PM

At least Satoshi earned them by mining them.
Ripple guys can not say the same..

Ripple = centralized scammy garbage cash grab

Actually ripple did mine them...

Spoetnik

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FUD Philanthropist™

At least Satoshi earned them by mining them.
Ripple guys can not say the same..

Ripple = centralized scammy garbage cash grab

solid12345

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Merit: 1000

No one here gets that there is not 1 person in the world who even owns as much a percentage of a fiat currency as Satoshi does.

Satoshi owns almost 8% of the current Bitcoins mined, that is staggering. Not even the wealthiest people in the world hold even close to 1% of the US dollar supply. It is not a healthy ratio and I just pray the coins are never released in the wild or are given away en masse. Imagine if Bitcoin became the world's reserve currency, Satoshi would own almost a tenth of the world's supply of that wealth!

Anyway it's frivolous to even compare them, XRP is not designed as a currency to be used by millions of people for everyday use in buying goods and services, it's more of a platform. Are you going to bitch that buying shares in IBM was 100% premined?

redsn0w

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#Free market

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The best meme of 2014 , very nice work Grin

*awesome*.

ParabellumLite

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Quote from: TaunSew on November 27, 2014, 04:06:44 PM

If Satoshi was like Ripple Labs + Founders, he would own more than 11 million BTC. Shocked

Trust -11. Yeah, I'll go with what you say. Also founders = not the same as Ripple Labs. It is a common mistake I see going around here quite regularly.

TaunSew

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If Satoshi was like Ripple Labs + Founders, he would own more than 11 million BTC. Shocked

Topic: If Satoshi was like Ripple Labs (Read 1588 times)