Pages:
Author

Topic: Ripple: Does it scare you? - page 2. (Read 4329 times)

legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
January 02, 2014, 07:36:04 PM
#47
XRP isn't tied to the WOT system in any way. Trust inside ripple isn't different to trust in exchanges.

What is to stop someone who has already built up xrps from running a Ponzi scheme ala madoff style?

Like pirateat40?


One critique of ripple hasn't yet came up and it is almost never mentioned: It's complicated, perhaps to complicated to use for a regular user, but the same was true for Bitcoin before payment processors.
full member
Activity: 140
Merit: 100
January 02, 2014, 07:13:58 PM
#46
You cannot deposit BTC to a "network" in Ripple either, everything besides XRP is tied to an issuer that needs to explicitly be either trusted or at least traded for (you can set up and fill a buy order for BTC.Bitstamp even if you don't have a trust line towards Bitstamp).


And therein lies the problem. Btcs work because trust is not required. It is digital cash.

Ripple requires trust but fundamentally some people should never be trusted. How many times have we seen "trustworthy" characters end up ripping people off already? Too countless to mention.

I don't understand how ripple can overcome this issue. What is to stop someone who has already built up xrps from running a Ponzi scheme ala madoff style?

Plus the fact that the initial developers holding 20% of all xrps, makes me think it is ripe for an abuse of trust.
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
January 02, 2014, 08:32:46 AM
#45
This thread I posted over a year ago.

Now everything seems to be in order, psychologically we are right on track...
FYI:
RippleLabs has 25+ employees already and more people actively developing it than there are core Bitcoin developers.
Their recent WCG giveaway lets people "mine" XRP and the crunching power is growing exponentially. The Ripple WCG team is already the fastest one on the Grid and they will be all time leader during the 3rd quarter this year by current crunching speed alone.
Bitstamps ripple adoption coincided with them becoming a major exchange and it takes just one other exchange for it to be the tipping point for a permanent Ripple/Bitcoin synergy. Once this happens ripple haters will have no other choice than to shut up, just like it happened with Litecoin.
legendary
Activity: 2618
Merit: 1007
January 02, 2014, 07:13:25 AM
#44
Send what? Your one liners don't help.
legendary
Activity: 2912
Merit: 1060
January 02, 2014, 06:42:28 AM
#43
You cannot deposit BTC to a "network" in Ripple either, everything besides XRP is tied to an issuer that needs to explicitly be either trusted or at least traded for (you can set up and fill a buy order for BTC.Bitstamp even if you don't have a trust line towards Bitstamp).

Where is the source code for bitlucky.io by the way?

So why not just send it directly? I'm trying to understand the ripple role
legendary
Activity: 2618
Merit: 1007
January 02, 2014, 06:39:58 AM
#42
You cannot deposit BTC to a "network" in Ripple either, everything besides XRP is tied to an issuer that needs to explicitly be either trusted or at least traded for (you can set up and fill a buy order for BTC.Bitstamp even if you don't have a trust line towards Bitstamp).

Where is the source code for bitlucky.io by the way?
legendary
Activity: 2912
Merit: 1060
January 02, 2014, 06:31:41 AM
#41
When I put btc into ripple where the hell does it go
It stays with the person/service you deposited to until you withdraw.

When you put BTC into MtGox, where do they go?

Fuck that
When you put BTC into http://bitlucky.io, where the hell do they go? Roll Eyes

Someone I trust, not some random network
legendary
Activity: 2618
Merit: 1007
January 02, 2014, 06:29:07 AM
#40
When I put btc into ripple where the hell does it go
It stays with the person/service you deposited to until you withdraw.

When you put BTC into MtGox, where do they go?

Fuck that
When you put BTC into http://bitlucky.io, where the hell do they go? Roll Eyes
legendary
Activity: 2912
Merit: 1060
January 02, 2014, 06:27:51 AM
#39
When I put btc into ripple where the hell does it go
It stays with the person/service you deposited to until you withdraw.

When you put BTC into MtGox, where do they go?

Fuck that
legendary
Activity: 2618
Merit: 1007
January 02, 2014, 06:26:31 AM
#38
When I put btc into ripple where the hell does it go
It stays with the person/service you deposited to until you withdraw.

When you put BTC into MtGox, where do they go?
legendary
Activity: 2912
Merit: 1060
January 02, 2014, 06:25:06 AM
#37
When I put btc into ripple where the hell does it go
legendary
Activity: 1442
Merit: 2282
Degenerate bull hatter & Bitcoin monotheist
January 02, 2014, 05:24:37 AM
#36
I'm fond of saying that Ripple is like Bitcoin for people who don't want to topple the government. If I'm still using dollars and euros in 10 years, I'd prefer to do it in Ripple. The feds should feel free to guarantee my Citibank IOUs, as they already do.
IOUs have to be paid. I'd rather trade with what I have so I know exactly where I stand. A person/institution can do a lot of trading through Ripple with NO financial investment, just trust. I don't agree with this principle. I still believe that if a large financial institution defaults then a lot of ordinary users will have their balances raided, just like what's going on now with QE. Institutions fail, people pay.
So how do you trade BTC for USD?

When you trade it's a one off it's not a come back and take my money any time you like Mt Gox. 
legendary
Activity: 2618
Merit: 1007
January 01, 2014, 03:15:43 PM
#35
I'm fond of saying that Ripple is like Bitcoin for people who don't want to topple the government. If I'm still using dollars and euros in 10 years, I'd prefer to do it in Ripple. The feds should feel free to guarantee my Citibank IOUs, as they already do.
IOUs have to be paid. I'd rather trade with what I have so I know exactly where I stand. A person/institution can do a lot of trading through Ripple with NO financial investment, just trust. I don't agree with this principle. I still believe that if a large financial institution defaults then a lot of ordinary users will have their balances raided, just like what's going on now with QE. Institutions fail, people pay.
So how do you trade BTC for USD?
legendary
Activity: 1019
Merit: 1003
Kobocoin - Mobile Money for Africa
January 01, 2014, 02:36:01 PM
#34
I'm fond of saying that Ripple is like Bitcoin for people who don't want to topple the government. If I'm still using dollars and euros in 10 years, I'd prefer to do it in Ripple. The feds should feel free to guarantee my Citibank IOUs, as they already do.
IOUs have to be paid. I'd rather trade with what I have so I know exactly where I stand. A person/institution can do a lot of trading through Ripple with NO financial investment, just trust. I don't agree with this principle. I still believe that if a large financial institution defaults then a lot of ordinary users will have their balances raided, just like what's going on now with QE. Institutions fail, people pay.
newbie
Activity: 6
Merit: 0
January 01, 2014, 12:09:34 PM
#33
I'm fond of saying that Ripple is like Bitcoin for people who don't want to topple the government. If I'm still using dollars and euros in 10 years, I'd prefer to do it in Ripple. The feds should feel free to guarantee my Citibank IOUs, as they already do.
full member
Activity: 238
Merit: 100
Stand on the shoulders of giants
December 31, 2013, 11:55:32 PM
#32
Google Ventures put in "less than 200k" in an early round.  So far as I am aware they have not put in any further funding.  I expect they would be a minor equity holder unless they have already exited completely. 

fuck goog ...

I know all their history as a company ... so FUCK GOOG again


Fuck goog anally

google ex guy ... AKA littecoin .. will push mem work as JAVA ... no .. man no way ... 

we can start here http://barroso.org/publications/piranha_asilomar.pdf
full member
Activity: 238
Merit: 100
Stand on the shoulders of giants
December 31, 2013, 11:46:42 PM
#31
Google Ventures put in "less than 200k" in an early round.  So far as I am aware they have not put in any further funding.  I expect they would be a minor equity holder unless they have already exited completely. 

fuck goog ...

I know all their history as a company ... so FUCK GOOG again


Fuck goog anally

google ex guy ... AKA littecoin .. will push mem work as JAVA ... no .. man no way ... 
legendary
Activity: 2912
Merit: 1060
December 31, 2013, 11:42:33 PM
#30
Google Ventures put in "less than 200k" in an early round.  So far as I am aware they have not put in any further funding.  I expect they would be a minor equity holder unless they have already exited completely. 

fuck goog ...

I know all their history as a company ... so FUCK GOOG again


Fuck goog anally
full member
Activity: 238
Merit: 100
Stand on the shoulders of giants
December 31, 2013, 11:37:42 PM
#29
Google Ventures put in "less than 200k" in an early round.  So far as I am aware they have not put in any further funding.  I expect they would be a minor equity holder unless they have already exited completely. 

fuck goog ...

I know all their history as a company ... so FUCK GOOG again
full member
Activity: 238
Merit: 100
Stand on the shoulders of giants
December 31, 2013, 11:36:11 PM
#28
Google Ventures put in "less than 200k" in an early round.  So far as I am aware they have not put in any further funding.  I expect they would be a minor equity holder unless they have already exited completely. 

fuck goog ...
Pages:
Jump to: