Topic: Is Ripple a Scam? - page 2. (Read 3523 times)
Ripple is not a Scam but it's a great mockery in my opinion, controlled by Chinese bankers who have fun manipulating the market with small statements. After they announced few days ago that they have frozen a small part of the tokens, the price has multiplied by 10. Ridiculous, Frozen, not even burned. Crypto market has no sense
Ripple is not crypto money - scam from bankers and government.
Ripple - is not open source;
Ripple - Each Ripple node is controlled by a private commercial company. It is centralized as a bank or PayPal. Not a decentralized currency.
Ripple - totally 100% with the pre-release issued by Ripple Labs, 65% were left to themselves and 35% sold;
Ripple - not anonymous;
Ripple - emission is possible in unlimited quantities;
Ripple - created by the richest states and banks of the world on the money of monopoly oligarchs, with one purpose to destroy and devalue in the public eye the world of crypto-currencies.
It is very difficult to destroy bitokoyn, because it is decentralized. Everyone who manages the bitcoins client is peer and conducts transactions around, and everyone who picks up votes with their hashing. Bitcomoin group of kernel developers could be arrested, but new developers will just get the better.
Take a look at all Bitcoin services that were hacked. MtGox. Bitcoinica. MyBitcoin. InstaWallet. You might lose bitkoyny, which you deposited there - debt - but if you kept the real bitkoy in their purse, they were safe. When a Ripple gateway or currency issuer is hacked, because you can only hold BTC and, for example, debt, you lose them.
But with Ripple, all that's required is a raid-like what happened to Liberty Dollar-to kill the entire network because of its centralization. The update can be ejected to destroy all XRP and transactions - and this will work, because one object has 51% of the attack on the network. This simply can not be done with Bitcoin, if only with an international attack on mine pool operators, and when this happens, people will simply switch to solo development.
Ripple supporters (for example, OpenCoin Inc employees who speak their own views) point to small default values that have not been disconnected from the network. Of course, this will not happen. But a sufficiently large default from the lock will lead to a crash - there is a critical mass
States are afraid of crypto-currencies and criticize them. Ripple is not criticized by the authorities, states, politicians and bankers! You will not hear anything bad about Ripple from them.
For several years Ripple will eat all the main crypto-currencies - this is the black hole of the crypto-currency market, launched by states and banks. The total capitalization of the crypto-currency market will remain insignificant, and the Ripple capitalization will grow due to the exhaustion of money from other crypto-currencies. When banks artificially depreciate the world's major crypto-currencies, with the help of Ripple, there will then be an unrestricted release of the Ripple (because of its centralization) and the owners' funds will also be depreciated with the help of huge inflation, and subsequently unlimited emissions Ripple will be completely destroyed by banks and their governments.
This will allow states to declare crypto money outlawed and never allow to return to private money and crypt.
I’m an early adopter of Ripple – having used it before it was publicly announced – but I need to point out what the inherit flaws are, and why Ripple is arguably a scam.
I could have taken my free XRPs and posted propaganda in support of Ripple, but that’s not the kind of person I am. I want to expose the world to the fraud of Ripple and OpenCoin Inc – what you will never see on the homepage.
https://bitcointalksearch.org/topic/m.2358207
Why do people like a coin that can just randomly put 333 million coins into circulation, raising the market cap substantially?
Crazy
https://bitcointalksearch.org/topic/ripple-releases-333-million-more-tokens-1735977
Ripple - is not open source;
Ripple - Each Ripple node is controlled by a private commercial company. It is centralized as a bank or PayPal. Not a decentralized currency.
Ripple - totally 100% with the pre-release issued by Ripple Labs, 65% were left to themselves and 35% sold;
Ripple - not anonymous;
Ripple - emission is possible in unlimited quantities;
Ripple - created by the richest states and banks of the world on the money of monopoly oligarchs, with one purpose to destroy and devalue in the public eye the world of crypto-currencies.
It is very difficult to destroy bitokoyn, because it is decentralized. Everyone who manages the bitcoins client is peer and conducts transactions around, and everyone who picks up votes with their hashing. Bitcomoin group of kernel developers could be arrested, but new developers will just get the better.
Take a look at all Bitcoin services that were hacked. MtGox. Bitcoinica. MyBitcoin. InstaWallet. You might lose bitkoyny, which you deposited there - debt - but if you kept the real bitkoy in their purse, they were safe. When a Ripple gateway or currency issuer is hacked, because you can only hold BTC and, for example, debt, you lose them.
But with Ripple, all that's required is a raid-like what happened to Liberty Dollar-to kill the entire network because of its centralization. The update can be ejected to destroy all XRP and transactions - and this will work, because one object has 51% of the attack on the network. This simply can not be done with Bitcoin, if only with an international attack on mine pool operators, and when this happens, people will simply switch to solo development.
Ripple supporters (for example, OpenCoin Inc employees who speak their own views) point to small default values that have not been disconnected from the network. Of course, this will not happen. But a sufficiently large default from the lock will lead to a crash - there is a critical mass
States are afraid of crypto-currencies and criticize them. Ripple is not criticized by the authorities, states, politicians and bankers! You will not hear anything bad about Ripple from them.
For several years Ripple will eat all the main crypto-currencies - this is the black hole of the crypto-currency market, launched by states and banks. The total capitalization of the crypto-currency market will remain insignificant, and the Ripple capitalization will grow due to the exhaustion of money from other crypto-currencies. When banks artificially depreciate the world's major crypto-currencies, with the help of Ripple, there will then be an unrestricted release of the Ripple (because of its centralization) and the owners' funds will also be depreciated with the help of huge inflation, and subsequently unlimited emissions Ripple will be completely destroyed by banks and their governments.
This will allow states to declare crypto money outlawed and never allow to return to private money and crypt.
I’m an early adopter of Ripple – having used it before it was publicly announced – but I need to point out what the inherit flaws are, and why Ripple is arguably a scam.
I could have taken my free XRPs and posted propaganda in support of Ripple, but that’s not the kind of person I am. I want to expose the world to the fraud of Ripple and OpenCoin Inc – what you will never see on the homepage.
https://bitcointalksearch.org/topic/m.2358207
Why do people like a coin that can just randomly put 333 million coins into circulation, raising the market cap substantially?
Crazy
https://bitcointalksearch.org/topic/ripple-releases-333-million-more-tokens-1735977
Im a super Newbie in this subject and I dont know what is Ripple... The Wiki site of Bitcoin is down in the section of Ripple!...
https://en.bitcoin.it/wiki/Ripple
Any good links to follow??? Google is not helping me at the time of writing! Will keep looking!
All best!
l.
https://en.bitcoin.it/wiki/Ripple
Any good links to follow??? Google is not helping me at the time of writing! Will keep looking!
All best!
l.
When it is open, then I'll look at it. Until then, I'm too ignorant to trust it because it is closed.
Fine, I'm not saying you should use it. If you distrust it, don't use it. But there must be more to it because you are actively campaigning against it and spreading FUD.
I've been a part of the Beta for quite some time and I have to say that I really dig what Ripple is doing. Sure, I have a few concerns with some of the decisions that OpenCoin has made, but the service itself appears to be solid. Considering that I have less than $1 invested into Ripple, I could care less what the price of XRP ends up being.
What an ignorant statement. Ripple is (or will be) great for trading between fiat and crypto, which is precisely what we need right now. Other alternatives are being worked on (Open Transactions) and they are great too. Don't confuse XRP the currency with Ripple the distributed exchange or Ripple the fiat IOU payment system.
When it is open, then I'll look at it. Until then, I'm too ignorant to trust it because it is closed.
Sorry, that's my philosophy. Been burned too often by closed projects that have ulterior motives they don't disclose to the general public. Last thing I want to do is become involved with one that deals with my finances.
When they follow through on their committment to open the source up, then it may be something I am interested in. Until then, ignorant or not, I have no use for it.
Maybe it is ignorant but that's the problem - without it being open, everyone is ignorant.
What an ignorant statement. Ripple is (or will be) great for trading between fiat and crypto, which is precisely what we need right now. Other alternatives are being worked on (Open Transactions) and they are great too. Don't confuse XRP the currency with Ripple the distributed exchange or Ripple the fiat IOU payment system.
Dont get involved with ripple, Stick with BTC and LTC, right now though, BTC still has a long way to go. Too many people are trying to cash in on making something new based on BTC, while BTC can still rise a considerable amount yet.
A good scam doesn't reveal itself immediately.
That's why the source would be good to see...
if they release source, will you be happy?That's why the source would be good to see...
That all depends upon what is in the source.
I do know that any financial system that is neither open for inspection nor under federal regulation (like FDIC does for my fiat bank account) is a very scary thing to me.
We have to see it. Just now ripple is ok.
so how is me trusting bitstamp to hold my bitcoins any different than me trusting bitstamp to hold my bitcoins? you see what I mean? i don't feel that safe with coins on the exchange OR in ripple, I gues.
A good scam doesn't reveal itself immediately.
That's why the source would be good to see...
if they release source, will you be happy? That's why the source would be good to see...
A good scam doesn't reveal itself immediately.
That's why the source would be good to see...
That's why the source would be good to see...
mostly what i see regarding "scams" are actually just due to victim's stupidity
do a little research and stop trusting randoms!!!!
do a little research and stop trusting randoms!!!!
no, ripple is not a scam. it's quite a useful payment system and i hope that it takes off. ripplescam.org is not very persuasive imo.
this imo. Ripple is really useful and I have made alot of $ from it.
Sure they can. They just are not.
Not without destroying their business model.
They have a business model that is counter to the FOSS world.
Of course the FOSS world is going to reject it.
Sure they can. They just are not.
Not without destroying their business model.
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They can promise it will be open until they are blue in the face, until it actually is open, I have no reason to trust them and many reasons not to.
No, you have many reasons to badmouth them and to keep your real reasons to yourself.
Miners are in it for their own interests but the development team is about the code and the success of the project.
The Ripple developers have a clause in their contract that requires the code to be open-sourced if OpenCoin is shut down. You are drawing a false distinction between the Ripple and Bitcoin developers. It wouldn't surprise me if Satoshi were part of the Ripple team, or, if Satoshi is really a group of people, if some of them now worked for OpenCoin.
Open source it and we can both look for patent violations and workarounds if/when they are found.
That was the plan all along, but as I explained they can't do it too soon.
Sure they can. They just are not.
They can promise it will be open until they are blue in the face, until it actually is open, I have no reason to trust them and many reasons not to.
Forks generally only work if they are better, have something legitimate to offer.
A fork now could start a new ledger without most of the XRP going to OpenCoin, which would destroy their business model. Bad for OpenCoin, potentially good for the rest of the world.
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But it is undoubtedly self interest that is keeping it closed. Hence why I have no interest in their offering.
By that reasoning you should have no interest in Bitcoin either, since miners are in it for their own interests too.
Miners are in it for their own interests but the development team is about the code and the success of the project.
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