I'm not sure what he's getting at, but do not trade any Ripple or any other of your cryptos for it. Part of Ripple's infrastructure allows you to create a trade medium of anything that you choose, as long as others are willing to accept it. If I wanted to create and issue myself a trillion SuperFantasticAwesomeCoin, I could. To understand how this works, check out this forum:
https://bitcointalksearch.org/topic/start-using-ripple-learn-with-no-risk-the-funcoin-gateway-411459
Ripple's concept behind doing so is that it supplies the platform to create any currency of your choosing, as long as there are others willing to accept it as currency.
https://bitcointalksearch.org/topic/start-using-ripple-learn-with-no-risk-the-funcoin-gateway-411459
Ripple's concept behind doing so is that it supplies the platform to create any currency of your choosing, as long as there are others willing to accept it as currency.
Yeah I've now read some stuff on ripple forum. It's funny but actually it's as legitimate as any other currency I realize and also the wallet (not the company) is decentralized and internally tradeable. It kind of is already doing what NXT (which I'm a big believer in) is working so hard to do but already does it easily. But it almost seems too easy for the coin to develop and have real value which is interesting at least, that we need blood sweat and tears over complicated POS distributions or agonisingly difficult mining to get what Ripple can do in a few clicks it seems.
Disclaimer: I was a big believer in Ripple last year but got sick to death of the IOU system that regularly brought me to tears so I'm first to hate on it and eventually walked away from it. But you got to admit it is interesting at the ease of this coins production.
Any issuer in Ripple can create more IOUs. There is no code ensuring only 21 million big coins. An IOU is only as good as its issuer.
I actually like Ripple's social credit system.
so any coin is kind of pointless then right? I mean if an unlimited supply can be made.
