Topic: Ripple is excellent, but short-sighted. - page 2. (Read 10509 times)

It's impossible to have a rational discussion so early. Some of you have hitched your wagons prematurely to the "I simply don't care about Ripple" ideology imho. I guess you don't see the new utilities it's attempting to bring to the payment space as being as much of a big deal as some of us do.

I've said this before, but it's important to keep in mind, the payment space is MASSIVE! Bitcoin is a little speck. Bitcoin, Ripple, and wtvr else we're talking about in these forums that actually possesses forward momentum is the new stuff, and it all supports itself.

Ripplers whining:" You totally misunderstood us! It's not what Ripple is all about!" Blahblahblah....

What Satoshi did--throwing in the code and the whitepaper:" Show me where it would't work the way I told you, I dare you."

OpenCoin holds a fuckton of XRP.

Their justification is: "WEll we need to hire the best programmers blah blah blah"

But what they really are saying is "we need to make sure our VCs get their pay off as well as us". So please use XRP so it goes up in value so we can get rich quick for little effort.

Bullshit. May as well use the Federal Reserve system already.

It is essentially broken because you have to trust the the party to pay the IOU actually does so.

Trust-based system.

The trick is to get merchant to accept ripple into their system and also to get gateways (i.e. banks and other financial instutitions) to accept them as well ...which are subject to regulation and being shut down essentially taking your XRP/IOUs with it.

This is somewhat true with bitcoin , but you have the ability to hold your own bitcoins. Ripple is centralized.


OpenCoin is very misleading with their name and what they have said about ripple. It is not open sourced nor is it decentralized.

Instead of trusting FEDs, there are people who somehow figure it's a better idea to trust a private corporation which is ten times more shady and arbitrary than FED with the currency they created ....wow.


Had Bitcoin been like XRP, I would have sticked with whatever fiats I use.

Where do they do that?

You have no argument other than: Ponzi has something to do with stamps, and some people say Ripple is like stamps. Gimme a break, what is this, grade 10?

They are giving the XRP away in order to grow the infrastructure of a distributed currency exchange.

 

You're new here are you?


How is it anything else.

XRP is designed to be an intermediary facilitating the flow in and out of other currencies. Calling it a currency or a stamp is over-simplifying.

Q: How is Ripple a Ponzi if: A - XRP are given away, and B - There's a finite supply?
A: It has absolutely nothing in common with a Ponzi.

It's harder and more pointless for vultures to hoard XRP. That's what a lot of the fuss is about imo.
Not enough of us on bitcointalk discuss the impacts of technologies in the real world. What Ripple offers is huge.

Like I said. XRP is a currency!

Not sure if serious..

Ok, I just discovered this interview with Chris Larsen (Co-founder and CEO of Opencoin), and he explicitly talks about XRPs as a fixed-amount currency competing with Bitcoins.

https://www.youtube.com/watch?feature=player_detailpage&v=3SBzhXpxBhA#t=362s

I think that should be reason enough to stop saying that XRP are not intended by Opencoin to be used as a currency?!

XRP is a currency:

These "stamps" are, in essence, a deflationary cryptocurrency. They are being used as currency, and I see no reason why they will not be continued to be used as currency in the future. I refuse to believe that Opencoin did not see right away that their XRP actually can and will be used as currency. What about the various reports from multiple users (on Reddit and here) who claimed to have spoken with Opencoin employees (e.g. at the conference), who basically admitted that it is their business model to expect XRP to become more popular as a currency, and to eventually take away a significant marketcap from Bitcoin? Maybe these are all TradeFortress sockpuppets in disguise, but IMO this is basically the only logical outcome if Opencoin's Ripple becomes popular - why transfer monetary value with Bitcoin IOUs when XRP serve the same purpose? Again, I refuse to believe that Opencoin did not consider that as a possible scenario, that could potentially bring them (as a for-profit company and as the holders of a majority of all XRP) massive profits.

The funny part here is, of course,

the same way the postal service can say that stamps are not a currency yet that is their method  of getting paid, by people buying stamps. then look at the profit and loss sheets of the postal services of your native country. and you will start coming to the arguments MPOE-PR is coming up with

the point is instead of using ripple as its intended use, a peer to peer exchange for bitcoins to fiat between people and exchanges like bitstamp...much like sending a cheque through a postal service, everyone is using it just to buy and sell the stamps between each other(xrp). as if the stamp/xrp is more important then the service ripple/postal service offer.

yea a postal stamp is worth a few pennys when you go buy them at a postal service. but that is not the whole point of a postal service. a postal service does not exist purely to sell postal stamps,  its just its method of getting paid for the actual service it offers

ripple does not exist purely to sell ripple, its just its method of getting paid for the actual service it offers

ripple is not selling you a product, its a service (peer to peer exchange)... xrp are only important for the transmission of the requests for bitcoin-fiat. the sooner people see that XRP is not an altcoin the better.

Pretty much.

Even if it's debatable if the Better Ripple end is above or below epsilon, it's still undebatable that Ripple - Ripplescamcoin = Better Ripple.

Noticing the elaborate sidestepping employed by people obviously attached to the Ripplescamcoin part and paid for it (such as) I'd guess there's absolutely no chance of this happening: never will Ripplescamcoin give up (until the venture capital runs out at least); nobody will reimplement Ripple w/o the scam because Better Ripple actually is below epsilon and thus not worth it.

Life in a free world: scamming and lying no longer reserved exclusively for the government; open to the public instead. Learn to love it I guess.


It's not at all that they don't realize. They do realize, as they took the deliberate step to waste some Bitcoin (bought for PayPal's venture dollars) in order to artificially increase the XRP exchange rate to a point where they can claim "looky, Ripple mkt cap > Bitcoin mkt cap". They figured this would somehow bring in more love, not more scrutiny.

To get a sample of that shitfest:




(from obscure blogs nobody cares about nominally)

So then: whatever business strategists Ripple hired gave them the uniquely bad advice of trying to push up the price, oblivious to the fact that such an attempt will indisputably cement XRP's position among the known pump scams like Novacoin, rather than among the humble Bitcoin just-in-case substitutes like LTC. Bad move.

(An aside for Venture Idiots: submit already! Pay the fees of the actually competent. This thing where you're hiring the retarded but accessible is only going to continue the trend where you're being publicly humiliated. You're not "saving money", and you sure as hell can't even begin to "shape the field".)

I see this repeated by the supporters of Opencoin's Ripple again and again, but I do not see how this is true. From the wiki:


How can they claim XRP are worthless stamps on the one hand, but then on the other hand they are somehow valuable enough to fund their business? The Opencoin guys MUST be realizing that their XRP do have value (something like 2 cent per XRP at the moment) and that they are traded and used like a currency right now. How can they just ignore that and claim XRP are basically worthless and not a currency? On Reddit it was even mentioned that a VPN service is already accepting XRP as payment. I don't know about the US, but in my country stamps are used like a currency. If you buy things from the post office, they give you your change in stamps. You also get change back in stamps when sending cash to certain mailorder services (less weight than metal coins).

The drastic increase in XRP value during the last weeks is in my opinion a direct result of Opencoin's position as the equivalent of a "XRP central bank". They have nearly complete control over the supply. With demand being as high as it is at the moment, their restriction of the supply makes the price of XRP shoot up. The price of XRP is basically completely in Opencoin's hands and completely dependent on Opencoin's goodwill, they can make it go in whatever direction pleases them. Why should a for-profit company not abuse such a position? I am extremely distrustful of their intentions, and would urge anyone who intends to use their system (which makes using XRP mandatory) to be very cautious.