Is Ripple a Scam? - page 3. | Bitcointalksearch.org

mmeijeri

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Martijn Meijering

Quote from: AliceWonder on June 27, 2013, 04:36:39 PM

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. If it isn't open sourced it will either fail to be adopted by the market, or it will be shut down by the USG. They don't have the luxury of keeping it closed indefinitely, the clock is ticking. But at the same time, they don't have the luxury of open sourcing it now either.

mmeijeri

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Martijn Meijering

Quote from: AliceWonder on June 27, 2013, 04:34:33 PM

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.

mmeijeri

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Martijn Meijering

Quote from: prodigits7 on June 27, 2013, 04:29:36 PM

Ripple doesn’t compete with Bitcoin as much as it does with existing centralized-currencies and transaction systems.

It does both, it has its own cryptocurrency too, XRP, which competes with Bitcoin, which is the real reason people here don't like it.

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However, I think Ripple is making the wrong moves to be taken seriously. And OpenTransactions project is doing a better job at solving the issue.

OT is a good idea that is complementary to both Bitcoin and Ripple. It is less decentralised than both though.

AliceWonder

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closed source also gives software patent concerns.

Are they violating software patents? If they are, a court order could shut the whole thing down.

Open source it and we can both look for patent violations and workarounds if/when they are found.

AliceWonder

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Quote from: mmeijeri on June 27, 2013, 03:36:37 PM

Quote from: AliceWonder on June 27, 2013, 03:28:31 PM

Why don't the developers want to open source it? What's their motive?

If they release it now, then people will fork it, OpenCoin's holdings of XRP will become worthless

Forks generally only work if they are better, have something legitimate to offer.
There are numerous success stories in open source software history, from GNU C library to Linux to Apache to PHP to PostgreSQL.

But it is undoubtedly self interest that is keeping it closed. Hence why I have no interest in their offering.

prodigits7

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Ripple doesn’t compete with Bitcoin as much as it does with existing centralized-currencies and transaction systems. You will be able to do Bitcoin Legal Tender transactions with Ripple. If Ripple becomes bigger, there will be true competition between all those legal-tender currencies vs Bitcoin without banks being shut down.

However, I think Ripple is making the wrong moves to be taken seriously. And OpenTransactions project is doing a better job at solving the issue.

https://github.com/FellowTraveler/Open-Transactions

Oliwill

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this may help http://ripplescam.org

mmeijeri

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Martijn Meijering

Quote from: AliceWonder on June 27, 2013, 03:28:31 PM

Why don't the developers want to open source it? What's their motive?

If they release it now, then people will fork it, OpenCoin's holdings of XRP will become worthless and their business model will collapse. It will also make it more difficult to get a consensus on necessary changes to the protocol. On the other hand, if they wait too long, then adoption may be hindered by a lack of trust and they run the risk of being shut down by the USG before the system (including the initial ledger with OpenCoin holding all of the XRP) can stand on its own. It's a difficult trade-off.

wikiaki

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DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

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As long as it's source code is closed to the public I don't want anything to do with it.

+1

AliceWonder

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Quote from: prodigits7 on June 27, 2013, 02:55:15 PM

Ripple can accommodate any currency, including dollars, yen, euros, and even bitcoins, making it one of the first distributed currency exchanges.

By creating a multi-currency, security-focused exchange, it can facilitate the evolution of Bitcoin as well. It's a win-win situation for Ripple & Bitcoin

Is it really security focused?
Then show us the source, because that's the only way to really know.

Hint - most closed source applications have huge gaping security issues.

AliceWonder

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Quote from: mmeijeri on June 27, 2013, 12:06:03 PM

I find it telling that so many people are so eager to profess their distrust. It would seem more logical to express both interest in the concept and hope it will be open-sourced, perhaps with a willingness to contribute to something similar if it isn't.

I'm by nature skeptical of anything closed source.
I've been on the FLOSS bandwagon since 1998.

When software is proprietary, it limits the user and quite often results in financial lock-in for code that is not as good as open source alternatives.

Why don't the developers want to open source it? What's their motive?
Clearly their motive isn't what is best for the users or they would open source it.

prodigits7

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Ripple can accommodate any currency, including dollars, yen, euros, and even bitcoins, making it one of the first distributed currency exchanges.

By creating a multi-currency, security-focused exchange, it can facilitate the evolution of Bitcoin as well. It's a win-win situation for Ripple & Bitcoin

bitcoinbilly

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Thank you! Finally, someone who makes sense! It amazes me that so many who defend btc daily on these forums are so closed minded when it comes to XRP. At the very least, if you haven't, educate yourself.

mmeijeri

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Martijn Meijering

I find it telling that so many people are so eager to profess their distrust. It would seem more logical to express both interest in the concept and hope it will be open-sourced, perhaps with a willingness to contribute to something similar if it isn't. The fact that that's not happening suggests that people are deliberately bad-mouthing Ripple without wanting to admit it.

AliceWonder

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I don't know if it is a scam but I do know I don't trust it.

If they would open source it and truly use a decentralized network then maybe I would change my mind.

mmeijeri

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Martijn Meijering

Quote from: Peter Lambert on June 26, 2013, 06:29:47 PM

Supposedly they have designed it in such a way that a number of servers can be run, making it somewhat decentralized, thus avoiding the fate of the old centralized failures.

It is currently somewhat decentralised, and if they release the source code, it will be just as decentralised as Bitcoin. In addition it will offer much improved fiat <-> crypto interface for all cryptocurrencies, including Bitcoin.

cryto4rig

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I don't know about this coin. Will check it now.

Peter Lambert

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It's all fun and games until somebody loses an eye

Quote from: zantafio on June 26, 2013, 05:20:10 PM

Not a scam, but they missed the point of Bitcoin : it's peer to peer. no central server, can't be shut down.

Ripple is the new Flooz / Beenz . Same fate to be expected.

Supposedly they have designed it in such a way that a number of servers can be run, making it somewhat decentralized, thus avoiding the fate of the old centralized failures. If they actually come through with their promises is still yet to be seen.

zantafio

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Not a scam, but they missed the point of Bitcoin : it's peer to peer. no central server, can't be shut down.

Ripple is the new Flooz / Beenz . Same fate to be expected.

rig007

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No it is not a scam. But you can't mine this coin.

Topic: Is Ripple a Scam? - page 3. (Read 3523 times)