Topic: ripple: let's test it! - page 3. (Read 43943 times)

I can't wait until people start using the currency creation to make stocks and bonds. I'm tempted to start selling XRP futures on Ripple as a way to short them, but I doubt anybody would trust me...

Compared to that, Bitcoin is simple and straight-forward. Lets see who the first person is to explain ripple to their mom

Looks like you trusted me for 0.01BTC Timo Y. Just reciprocated...

One thing I don't understand:
When I added trust for molecular, it dropped my XRP balance by 1. When I added trust from Timo Y, my balance stayed the same

Now ripple is Becoming more and more popular. Ripple is interested in banks and different financial structures. This suggests that in the near future, this cryptocurrency will become one of the most popular and expensive.

I used to think about Ripple which is the norm of a coin. Now I'm disappointed in the Ripple coin when I found out that he was going against Bitcoin and that it was possible a conspiracy of bankers.

 I didn’t understand XRP at $1bn. I really don’t understand XRP at $100bn. It’s not required to use Ripple’s software, so unless banks are adopting the currency as a new global reserve, it doesn’t make sense. But the top employees are now billionaires, so that’s cool.

Hold actual BTC.

Interledger is more of a protocol to automatically trade/transfer on the spot between parties that have implemented that API.

hold BTC or hold some BTC IOUs?

Don't be normal.

What are you talking about? It's not the toys of whales. It is the one of the best investments for normal people.

Ripple is the first protocol of its kind and the first wave of many that will, in the years ahead, lower to nearly zero the cost and time required for institutional money transfers. There is nothing scammy about Ripple. And a formal part of its protocol is a 'Bitcoin Bridge' is that will, like Ethereum, expand Bitcoin's reach into daily life. So Ether and Ripple are not 'competitors' and 'rivals' of Bitcoin. They will all complement each other, as will the token-based protocols that come after Ripple (like IOTA). But being mere tokens, they will not be good HODL material -- they are not the ongoing product of genuine work, like bitcoins and ethers are. The whales and sharks you mention are just swimming in the sea they found themselves in. But they are easy to spot if you want to spot them. The trouble is, so many people don't want to spot them.

It amuses me how all the warnings people have sounded about bitcoin apply more to Ripple as something to HODL -- and even, for that matter, as a short-term speculation. You are going to get burnt. They are tokens. And lots more of them are waiting in the wings. That doesn't necessarily mean they won't serve a legitimate purpose. Ripple surely does serve a legitimate purpose. But as an investment strategy . . . no. I remember a life-insurance salesman coming around our house many years ago when I was a kid. He had a great investment strategy that he raved about: Second Trust Deeds. Fifteen years later he was still a life insurance salesman with the same phone number. I have this vision of a similar salesman coming around your house with a great new investment tool: Bank Transfer Settlement Tokens . . .

In my opinion, XRP is the way for whales and sharks playing the dump and pump games which is really dangerous for normal people like us want to earn some profit in our life.

They are moving away from that paradigm for 3-4 years now by the way, the new hot shit that Ripple Inc pushes is https://interledger.org as the upcoming W3C payment standard (Current slide deck: https://www.slideshare.net/Interledger/34c3-interledger-presentation-background-streaming-payments-and-implications). It would allow you to always hold BTC, but to pay someone who only accepts e.g. PayPal at current market prices. That's also the technology that they sell to banks, not the XRP ledger itself (banks don't like to have their payments public apparently).

I acknowledge the use case for ripple as an exchange platform.

Maybe we can view ripple as 2 separate things: an exchange platform / IOU-tracker on the one hand, and a cryptocurrency on the other hand?

Binance, poloniex and other exchanges have the same problem as ripple gateways, imo: they can (at least theoretically) create balances (IOUs) out of thin air. Just look at tether, for example. Or gox running "fractional reserve" for years on end. My fear is that people will get suckered in and just use ripple as a "wallet" for their EUR, USD, BTC...

Ripple is a decentralized exchange too, the "crypto-Euro" problem will still remain for a while until protocols like Interledger are more widely adopted outside of the blockchain ecosystem.

You prefer to hold native assets rather than IOUs. However you also see the need to trade them from time to time. I get that you are sceptical of the conecpt of Ripple as a monetary system (where people create money from debt or by depositing it at gateways), but I'm not sure why you would be against Ripple as a decentralized exchange that would make it easier for you to choose a single gateway as an on-ramp for the times where you do want to access a liquid market and still gain access to a much wider variety of markets than what the centralized exchanges offer (no need to wait for someone "allowing" you to trade X for Y because they now open an order book on their server).

If Ripple already is Central Banking on steroids, what are centralized exchanges like Binance, Poloniex etc.? In there by the way it is NOT possible to see how much they owe their customers, in Ripple it is transparent.

well, that's because of the fiat shortcomings. No way to do atomic swaps with EUR.

However, there are decentralized exchanges like bitshares for example.


Yeah, maybe a step in the right direction. I have nothing against IOUs in general. Just people should not get lulled in and neglegt the associated 3rd party risk. Even with ripple (it presumably being a public blockchain or not doesn't change this), you still have that risk. It's inherent to IOUs (by design).

It's just that I'd rather hold the larger part of my value in some commodity-based money (or other "tangible" assets (yes, I consider crypto tokens to be "tangible", but that's a philosophical detour)) like BCH or ETH or whatever. That way I "only" have to trust that there will be a liquid market allowing me to pull that value back out when I need it. I do not have to trust some 3rd party (however too big to fail, insured or whatnot it may be) to honor the IOUs I have with them and I do not have to trust that (or another 3rd party) to not inflate the money supply into their own coffers at will, maybe even in an opaque way.

There is no IOU-less interface between Crypto and Fiat currencies though... so instead of creating the IOUs on a server of MtGox, why are you against creating them on a public blockchain? Wouldn't that at least be a step forward in the right direction?

Don't you have a mining farm to build or something?

XRP to the moon lets go with the flow,make more btc on it!

I tend to agree with the latter part (it's a bankster power grab), but not with the former. We should be able to discuss ripple, even if it's not a coin (which is debatable).

ripple threads should be banned in this forum actually, ripple is not an altcoin, its the banksters breaking rules, and abusing their trust and power

regards