Topic: ripple: let's test it! - page 5. (Read 43943 times)

if you guys want to try ripple out and need to get your wallets activated, go here:  https://xrptalk.org/topic/1415-the-got-jed-initiative-a-proactive-xrp-giveaway/  

that's our wallet activation program. just say hi and give a little introduction of yourself in that thread.

also, to honor Jed McCaleb, you can participate here:  the got jed? giveaway  https://xrptalk.org/topic/1243-got-jed-giveaway/

we all know something fishy went on behind the scenes when Jed left ripple labs as you can see here:  http://www.youtube.com/watch?v=uQ2DCKLHaQs

this is what he said in the youtube video/interview:


whether bitcoiner or a ripple supporter, we need to honor the man, the myth, the legend, Jed McCaleb.

Have read a lot around here from people totally pro and people totally against Ripple. The fight appears to be going on and well-rooted in the wider Bitcoin space (and has all the characteristics of your everyday internet-war as we know them since way back in the day when people were fighting via FidoNet, gopher or early Usenet groups)...

At the risk of repeating things already gotten at somewhere in this thread (I admit having read only relevant portions and certainly not the whole thing to the t), to me it appears that Ripple is both a chance for Bitcoin and an un-welcome thing at the same time, to be summed up roughly like this:

  - Ripple may help adoption of general Crypto coin technologies by the masses
  - it may open doors with conventional financial institutions as these "think" in terms of "trusted central authorities" (because they haven't got the first thing about DE-centralised P2P Cryptos)
  - may complement Bitcoin use cases, funding/withdrawals, moving in and out by adding more ways of "interfacing" between fiat and Crypto,
  - may spawn better user-friendliness (and hence incentives of adoption by dumb users whom are ultimately needed to make this a success -- like it or hate it, but this is similar to that wave of AOL idiots who jumped onto the Net back in 1992-4); as a commercial central point of control, Ripple Labs, Inc. will see to it that things become easier to handle and dummy-proof; that, in turn, may influence Bitcoin improvements just like Formula-1 racing is said to bring innovation to everyone's Honda Civics ;)
  - may help with appeasing yesterday's government bureaucrats (who are pushing us around today though) and help proving that Bitcoin is not just a thing for gangsters, pornography, terrorism, and gambling (just as the general internet has overcome the same kind of smearing)
  - may help taking business away from banking monopolies and evading artificial barriers of entry

  - Ripple will, at the same time, move a certain volume of business from one monopoly to another controlled environment; this will not help in the medium or long run
  - it may turn out to be an interregnum and have a limited lifespan once people realise that REAL open and P2P-distributed systems are superior
  - it may harbour Crypto-illiterate users for some time to come (just like Windoze or AOL continue to appeal to dumb users in droves today), but we don't actually need them to move forward anyway
  - Ripple will try to "rule the world" and maybe try to limit real Cryptos one way or the other (just as Apple are increasingly showing their real face by censoring-away Cryptos because of their vested interest in some ridiculous iTunes payment system); both won't do any good in the long run to the respective malfeasants but still have a potential to make life miserable for the rest of us (nothing new here)
  - because of its partly-centralised built, it will be subjected to regulatory requirements more than Bitcoin
  - Ripple will turn out to be just another kind of "currency" in a world of competing currencies (now a reality, just a dream a very short time ago). Everyone truly **understanding** competing currencies, free markets, and competition need not worry about this; also, bear in mind that, beyond just the 1.5bn or so of us, the rest of the world (roughly 6.5bn) will tend to vote with their feet for truly open and decentralised Crypto coins.

Testing Ripple, yes, why not -- but it should not be taken for a substitute for Bitcoin or other Crypto coins, only kind of complementing it in a few ways.

Unless there is a trust path between the individuals, as might be the case once the user base reaches critical mass.

I've finally managed to stumble across something that appears to be a real weakness of Ripple: privacy.

IIUIC, out of the box Ripple offers very little privacy. Each account has a single address, so once someone you've transacted with knows your address, they can see your entire financial history. Or at least, they can see the amounts, since they might now know the real world identities behind the addresses of the counterparties. In the case of governments the situation is even worse, since governments can be expected to be able to hoover up large numbers of identified addresses.

While Ripple does support account families with multiple addresses, which are similar to deterministic Bitcoin wallets, the standard client doesn't appear to offer any support for it. More worryingly, trust lines run between addresses, not account families, and it is hard to see how this could be different given that there is a public ledger. This wouldn't matter for XRP transactions, but fiat transactions rely on it.

Hosted wallets can provide privacy, but that does mean you have to rely on intermediaries to get privacy, which isn't very desirable.

So, am I missing something, or is this a major weakness?

The new version (v0.2.41) of the webclient is out

Ripple is not so good to settle 1 on 1 trades... You can do that elsewhere too. Ripple is a decentralized exchange, so you would create an offer and hope that it gets taken or take an offer that someone else published.

Ripple can trade any of these coins, but it needs someone to actually issue and redeem them (or enable deposits and withdrawals to the ripple market in other words).

There is no exchange for i0coin's or groupcoins. Thats why i thought ripple could trade this since anything can be traded there. But so it looks like its not possible for me now. I dont know anyone that wants to buy them and if i knew i wouldnt need ripple.

That would be a way. However, also a trustworthy individual could just issue IOUs and offer depost/withdraw to/from the real thing. People who extended trust of, for example, SebastianJu iOcoin IOUs, they can trade these amongst themselves and redeem/buy with SebastianJu

You have to ask to an exchanger of them to install Rippled

Not that I know of, though it should be possible to act as a gateway for them - then markets can form.

Is there a market for groupcoins, i0coins and so on at ripple?

Any kind soul out there want to help me get started with Ripple? >>> r3X2xmZBbabCs2AmCtomqsktb45q7PLhbx <<<

Ripple please lock your giveaway thread

I would like to give trust but feel ignored a bit? My problem cant be solved or how is it?

Trust is for Gateways according To The devs

Don't just trust random strangers on the internet, it means you are willing to make payments on their behalf (and on behalf of they people they trust and so on) and trust the person to pay you back. Trust is for small amounts only and for close associates only.

Trying to figure out the Ripple thing.

Have 20k xrp from the giveaway. Added trust in a few users who posted their addresses at the beginning of this thread.
- I wish there was an easy way to add multiple people.
- I wish I could see with what amount people trust me.
- I wish people were notified when someone trusts them. (There is potential for abuse here, so the notifications could be blocked.)

If anyone wants to trust me, I am rnMSaj25TY9h9XLaFViegeGAHatctMaSk2 .

I still get the same error when I try to send a payment to myself.

Any info on my account? I sent you the details already...

Good to hear this. Good luck in fixing this bug. I had difficulties to trade bitcoins because of it.