Ripple: A Distributed Exchange for Bitcoin

johnwoodworth598

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Quote from: wtfvanity on April 23, 2013, 08:55:38 AM

Who started the largest centralized exchange for bitcoin? And where it is still unclear if he is directly responsible for the database leak?

Well MtGox needed to be created at the time. I don't know about the database leak, however. I wouldn't assume anyone intentionally compromised the integrity of MtGox. Usually, there is more reward from success than failure, at least that has been my experience.

hitchcoin

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Quote from: markm on November 01, 2013, 01:39:00 AM

Still it could be a nice feature of some types of client or clients for some types of people to have the client watch such things and point them out to you.

-MarkM-

Simple answer for that question. It seems that Ripple can do something, but reality is oposite to it. As we can see, it does nothing for now

Sukrim

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Quote from: mmeijeri on June 16, 2014, 05:38:00 PM

Quote from: PodBayDoors on June 16, 2014, 03:57:05 PM

It's sold as a way to transfer USD or JPY or BTC or any store of value. It's not.

It is a way to trade IOU's, that rely on your trust in the entity that issued them.

The same is true for wire transfers.

And every single Bitcoin exchange listed here: http://bitcoincharts.com/markets/

mmeijeri

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Martijn Meijering

Quote from: PodBayDoors on June 16, 2014, 03:57:05 PM

It's sold as a way to transfer USD or JPY or BTC or any store of value. It's not.

It is a way to trade IOU's, that rely on your trust in the entity that issued them.

The same is true for wire transfers.

PodBayDoors

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I think people are missing a central point with Ripple.

It's sold as a way to transfer USD or JPY or BTC or any store of value. It's not.

It is a way to trade IOU's, that rely on your trust in the entity that issued them. Those IOUs could be called RippleUSD or RippleJPY...but they are not real USDs or JPYs. Those real-world currencies are fungible: "freely exchangeable in whole or in part for another of like nature". One gateway's USD IOU will be better quality than another's; they are not interchangeable. They are not fungible.

Could be useful for internal purposes for banks, corps etc, where of course both ends of the transaction already trust each other.

removebeforeflight

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Is any company actually using ripple?
Thought that I read that a German bank
was using it for internal transfers?
Is this actually a transmission protocol
(like tcpip) versus a crypto currency?

Sukrim

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I usually just tag people (mostly mentally, this forum here does not support this kinda stuff unfortunately) instead of blocking them unless they are 100% spamming accounts anyways. Removing critics from your world view will not make them go away and there are some concerns that are worth addressing, even if they are re-iterated for the 1000th time (e.g. Ripple != XRP...).

mmeijeri

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Martijn Meijering

This thread remains a reliable source of people to block.

Sukrim

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What's complex about "You hand stuff to an escrower (aka. 'gateway') of your choice and can then trade for other stuff from the same or a different escrower (aka. 'gateway') of your choice"?

Everything else is just additional sugar on top and you can go deeper in understanding if you wish to, just like you can try to view Bitcoin as "digital gold that can be transacted fast between people who agree to use the same network" or start to discuss that the last round of SHA256 calculations is generally not even done by miners, since it does not change the beginning of the hash which is all they care about...

slothbag

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Quote from: smoothie on June 04, 2014, 10:14:58 PM

Ripple was destined to fail.

The premise of how it was begun was flawed with premining all of the XRP and distributing them in an unfair way.

You guys are still bitching about the XRP premine.. get over it already! It was a strategy, it had pro's and cons.. Personally I liked the idea of having a well funded company putting quality resources into furthering the crypto-currency space.

I probably agree with you that Ripple faces some big challenges though, its complexity being the biggest IMO.

smoothie

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LEALANA Bitcoin Grim Reaper

Ripple was destined to fail.

The premise of how it was begun was flawed with premining all of the XRP and distributing them in an unfair way.

themusicgod1

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Quote from: ShadowOfHarbringer on June 02, 2014, 05:38:24 PM

Quote from: themusicgod1 on May 27, 2014, 11:33:06 PM

Quote from: ShadowOfHarbringer on May 25, 2014, 02:54:27 AM

Ripple is finally dead. How wonderful.

Still works for me.

You and the only other guy using it. Have fun.

According to RippleCharts over 1M$ of transactions happened within the last 24 hours. In the last 24 hours I mostly did math by myself, slept and looked at some dirty pictures. It's impossible for it to have been me & humandalas trading; obviously there's a larger network of activity going on. ie you're wrong.

ShadowOfHarbringer

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Bringing Legendary Har® to you since 1952

Quote from: themusicgod1 on May 27, 2014, 11:33:06 PM

Quote from: ShadowOfHarbringer on May 25, 2014, 02:54:27 AM

Ripple is finally dead. How wonderful.

Still works for me.

You and the only other guy using it. Have fun.

themusicgod1

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Quote from: ShadowOfHarbringer on May 25, 2014, 02:54:27 AM

Ripple is finally dead. How wonderful.

Still works for me.

themusicgod1

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Activity: 252

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Quote from: Anduck on May 24, 2014, 10:07:36 AM

Quote from: cypherdoc on May 24, 2014, 07:54:05 AM

Quote from: Anduck on May 24, 2014, 07:06:22 AM

So you call Ripple a scam but you NEVER tell reason why. If there are some problems inside the Ripple Labs company, it doesn't make Ripple protocol a scam. If someone dumps 9% of all XRPs, it's still not a scam. Could someone explain me why Ripple is a scam?

Bitcoin taught us a few things:

1. don't do a premine or IPO
2. Open source the code from day 1
3. Anything based on debt is going to have a hard time at this point of evolution in the virtual currency space.
4. the importance of being first to market

1. You don't need much XRP. You only need a maximum of 50 XRP (costs 0,00034 BTC which is about 0.18 USD) to use the Ripple network for the rest of your life.
2. The source wasn't ready to be published. They were doing major developing back then so it'd be stupid to publish the source and let people set up nodes which need updating like daily due to hard forks.
3. Ripple doesn't compete with Bitcoin really. Ripple is another kind of system.
4. Ripple was first of its kind afaik.

If you don't like that Ripple took all the XRP to themselves at the start, fork it and make alt-Ripple. I wonder why nobody has done this yet, though there were a lot of people saying they will immediately fork Ripple (to remove the "premine") when possible.

Actually typically you need more xrp than that. My reserve is like ~600. Still, that's like 0.006 BTC...it's not going to break the bank.

ShadowOfHarbringer

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Quote from: Sukrim on May 25, 2014, 03:28:14 AM

Quote from: ShadowOfHarbringer on May 25, 2014, 02:54:27 AM

Ripple is finally dead. How wonderful.

Just like Bitcoin died after the 30 USD bubble... Roll Eyes

Ripple is NOT Bitcoin. And will never be.
It is not even similiar to Bitcoin.

Nuff said.

Sukrim

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Quote from: ShadowOfHarbringer on May 25, 2014, 02:54:27 AM

Ripple is finally dead. How wonderful.

Just like Bitcoin died after the 30 USD bubble... Roll Eyes

ShadowOfHarbringer

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Ripple is finally dead. How wonderful.

Anduck

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quack

Quote from: 🏰 TradeFortress 🏰 on May 24, 2014, 10:12:58 AM

Quote

1. You don't need much XRP. You only need a maximum of 50 XRP (costs 0,00034 BTC which is about 0.18 USD) to use the Ripple network for the rest of your life.
2. The source wasn't ready to be published. They were doing major developing back then so it'd be stupid to publish the source and let people set up nodes which need updating like daily due to hard forks.
3. Ripple doesn't compete with Bitcoin really. Ripple is another kind of system.
4. Ripple was first of its kind afaik.

1. Blah, read ripple docs so you know value of xrp is irrelevant.
2. Bad answer. No value, no information, no reason. A completely irrelevant answer by you.
3. Ripple is NOT like Bitcoin. When will you understand this?
4. You don't even know what you're talking about. Ripplepay wasn't like Ripple protocol these days.

I will now quit answering these same old stupid questions which answers are perfectly clear to everybody except you, TradeFortress.

🏰 TradeFortress 🏰

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👻

Quote

1. You don't need much XRP. You only need a maximum of 50 XRP (costs 0,00034 BTC which is about 0.18 USD) to use the Ripple network for the rest of your life.
2. The source wasn't ready to be published. They were doing major developing back then so it'd be stupid to publish the source and let people set up nodes which need updating like daily due to hard forks.
3. Ripple doesn't compete with Bitcoin really. Ripple is another kind of system.
4. Ripple was first of its kind afaik.

Topic: Ripple: A Distributed Exchange for Bitcoin (Read 66736 times)