Topic: Ripple is excellent, but short-sighted. - page 3. (Read 10510 times)
This is a troll thread. OP doesn't know what he's talking about.
yet again more useless threads showing a lack of understandin of what ripple is all about.
best analogy i have found to describe it
ripple is like the postal service sending transactions (cheques/checks) in the mail to each other where everyone knows a cheque is not the actual money, but just a IOU/request for bank(exchange) to authorise payment you person named on the cheque on behalf of person B and XRP is simply the postage stamped envelope used to send the transaction.
yet everyone just see's XRP as an alt coin. avoiding the actual purpose of ripple
EG
convert bitcoin for FIAT where it costs a smal decimal of a single XRP. meaning that if you have 500xrp you can do many many transactions before needing to buy more XRP(stamps).
only the mega exchanges need hoards of XRP to do many dolar to euro, euro to yen, dollar to bitcoin, transactions.. the whole btc to xrp transactions should only be needed as often as someone goes to a post office to buy 500 stamps.. so please please realise the true purpose of ripple and stop complaining about XRP as if was always intended to be an alt.
once people start using ripple for its intended purpose XRP will be worth pennies. but i fear ripple as s payment utility will be ignored and XRP will continue to be traded as purely a altcoin against other coins directly..
which leaves me to face palm alot of community members that still don't even read the descriptions of programs and use them for their desired functions.
best analogy i have found to describe it
ripple is like the postal service sending transactions (cheques/checks) in the mail to each other where everyone knows a cheque is not the actual money, but just a IOU/request for bank(exchange) to authorise payment you person named on the cheque on behalf of person B and XRP is simply the postage stamped envelope used to send the transaction.
yet everyone just see's XRP as an alt coin. avoiding the actual purpose of ripple
EG
convert bitcoin for FIAT where it costs a smal decimal of a single XRP. meaning that if you have 500xrp you can do many many transactions before needing to buy more XRP(stamps).
only the mega exchanges need hoards of XRP to do many dolar to euro, euro to yen, dollar to bitcoin, transactions.. the whole btc to xrp transactions should only be needed as often as someone goes to a post office to buy 500 stamps.. so please please realise the true purpose of ripple and stop complaining about XRP as if was always intended to be an alt.
once people start using ripple for its intended purpose XRP will be worth pennies. but i fear ripple as s payment utility will be ignored and XRP will continue to be traded as purely a altcoin against other coins directly..
which leaves me to face palm alot of community members that still don't even read the descriptions of programs and use them for their desired functions.
Ripple - Ripplescamcoin = Better Ripple
Just release the source code already, I don't want to use XRP.
Just release the source code already, I don't want to use XRP.
This problem exists because the only way for OpenCoin to make profit is to sell the xrp when its value is rising. They thus have to keep a certain proportion of xrp in reserve, also aiming to manipulate the price of xrp...
Because Bitcoin was made by someone who was in it for the profit, right?
Because Linux was made by someone who was in it for the profit, right?
Ripple is a dirty cash grab.
This problem exists because the only way for OpenCoin to make profit is to sell the xrp when its value is rising. They thus have to keep a certain proportion of xrp in reserve, also aiming to manipulate the price of xrp...
Ripple seems providing feasible solutions that bitcoin probably has, and sounds pretty promising.
However, when it comes to reserve half of XRP for themselves, Ripple show its myopia. So little a size of economy they are looking forward to, that they're trying to grap HALF of it!
Sigh, a tiny mind can never have a tremendous achievement.
If I started OpenCoin, I'd reserve nothing, and if I were determined to raise its value, the simplest choice would be buying XRP myself from the very beginning.
However, when it comes to reserve half of XRP for themselves, Ripple show its myopia. So little a size of economy they are looking forward to, that they're trying to grap HALF of it!
Sigh, a tiny mind can never have a tremendous achievement.
If I started OpenCoin, I'd reserve nothing, and if I were determined to raise its value, the simplest choice would be buying XRP myself from the very beginning.
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