Ripple or Bitcoin - page 40. | Bitcointalksearch.org

mmeijeri

hero member

Activity: 714

Merit: 500

Martijn Meijering

Quote from: Atruk on May 30, 2013, 01:35:21 PM

Pretty much this, especially since Ripple seems to be promoted for facilitating real money transactions. The debt/finance aspect probably opens up new legal vulnerabilities even Liberty Reserve didn't get into.

Once the code is released, OpenCoin no longer controls the Ripple network. You have an account with the network, not with OpenCoin, just as in Bitcoin. Shutting down OpenCoin will achieve nothing.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Quote from: MPOE-PR on May 30, 2013, 01:03:33 PM

Quote from: ElectricMucus on May 29, 2013, 03:09:15 PM

-It is open source, just not published, you can get rippled if you ask opencoin for access

And you're not retarded, you're just saving your good ideas for after your marriage. Right?

Quote from: ElectricMucus on May 29, 2013, 03:09:15 PM

-does that really matter?

Yes, it does.

Quote from: ElectricMucus on May 29, 2013, 04:23:22 PM

Ok what is it then? Closed source/proprietary is when there is a binary but no source code right?

You must think you're pretty clever or something (because stupid is when there's a binary but no source, right? And there's a source of you somewhere, not like the binary was just picked off static). Well done, Commander Fuckwit, you've proven InterLogic.

I'm still trying to find some substance between your insults, so excuse me if I miss your point.
It's not open source according to your definition, since it is not publicly available. I get that.

But since the source is available in principle that wouldn't be that of an issue for anybody genuinely interested in the software or it's development.

For lack of a term lets call it: "conditionally shared source" ok?

Mitzplik

member

Activity: 102

Merit: 10

Im out of this thread, what a pain in the ass!

Mitzplik

member

Activity: 102

Merit: 10

Wow man, MP is a pain in the ass. I have been watching this thread, she is a bitter love- lacking poor girl.
People bring arguments, she complains and cries like a pampered little girl.
I think this is to be really retard. People may be misinformed, but she is the boring retard one.

Atruk

hero member

Activity: 700

Merit: 500

Quote from: bitcoinbear on May 30, 2013, 08:37:24 AM

Quote from: Este Nuno on May 30, 2013, 04:04:58 AM

Quote from: high110 on May 29, 2013, 02:18:53 PM

All i have to say is Liberty Reserve...same fate for Ripple.

Completely different situation.

Opencoin operates in the US under US law.

Opencoin is in the US and under US law, thus it will be even easier for the US to shut them down than it was for LR. Look at how easy it is to open an anonymous ripple account: they don't even ask you for a name and email address.

Pretty much this, especially since Ripple seems to be promoted for facilitating real money transactions. The debt/finance aspect probably opens up new legal vulnerabilities even Liberty Reserve didn't get into.

On the otherhand bitcoin is simply an online game where the developer neglected to build anything other than the currency.

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: ElectricMucus on May 29, 2013, 03:09:15 PM

-It is open source, just not published, you can get rippled if you ask opencoin for access

And you're not retarded, you're just saving your good ideas for after your marriage. Right?

Quote from: ElectricMucus on May 29, 2013, 03:09:15 PM

-does that really matter?

Yes, it does.

Quote from: ElectricMucus on May 29, 2013, 04:23:22 PM

Ok what is it then? Closed source/proprietary is when there is a binary but no source code right?

You must think you're pretty clever or something (because stupid is when there's a binary but no source, right? And there's a source of you somewhere, not like the binary was just picked off static). Well done, Commander Fuckwit, you've proven InterLogic.

Quote from: misterbigg on May 29, 2013, 03:26:26 PM

There are already a lot of individuals and corporations which not only have access and are running the Ripple server, but also have money issued in the form of IOUs or are holding XRP.

Bullshit. There is precisely nobody. Some people (people, not "corporations") are leeching the Bitcoin OpenScam is dumping on trying to buy popularity. That is all. A bunch of scammers, a bunch of shills, a bunch of bad ideas all covered in an abundant frosting of putrid

Quote from: ShadowOfHarbringer on May 29, 2013, 02:56:44 PM

Lies, lies lies, lies. Goddamn lies everywhere.

mmeijeri

hero member

Activity: 714

Merit: 500

Martijn Meijering

Quote from: misterbigg on May 30, 2013, 08:47:07 AM

I would be interested in seeing a new thread started specifically related to the topic of the hash function in Bitcoin, including what was said here regarding SHA256 versus more CPU friendly algos (scrypt).

See this thread:

defending ahead the p2p nature of bitcoin - blending hashcash & scrypt

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: SamS on May 30, 2013, 10:11:15 AM

I'm skeptical that that is true -- mostly because I think they might absorb some legal liability from knowingly releasing something the US government has told them not to. However, I'm not an attorney and don't know this for certain. Having said that, I wouldn't wish that kind of problem on anyone...

Nor I...I'm simply speaking from what has been said. If I remember correctly, I believe it was stated that at least one of the developers has it in his contract to do so. Again, they are not my words and I'd hope no such thing would be necessary.

SamS

member

Activity: 70

Merit: 10

Quote from: Coinseeker on May 30, 2013, 09:57:58 AM

Quote from: bitcoinbear on May 30, 2013, 08:37:24 AM

Quote from: Este Nuno on May 30, 2013, 04:04:58 AM

Quote from: high110 on May 29, 2013, 02:18:53 PM

All i have to say is Liberty Reserve...same fate for Ripple.

Completely different situation.

Opencoin operates in the US under US law.

Opencoin is in the US and under US law, thus it will be even easier for the US to shut them down than it was for LR. Look at how easy it is to open an anonymous ripple account: they don't even ask you for a name and email address.

As OpenCoin has stated, even if that would happen today before the source code was released, they would just at that moment, release it. Wouldn't matter what happens to OpenCoin after that, as it relates to the Ripple network.

I'm skeptical that that is true -- mostly because I think they might absorb some legal liability from knowingly releasing something the US government has told them not to. However, I'm not an attorney and don't know this for certain. Having said that, I wouldn't wish that kind of problem on anyone...

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: bitcoinbear on May 30, 2013, 08:37:24 AM

Quote from: Este Nuno on May 30, 2013, 04:04:58 AM

Quote from: high110 on May 29, 2013, 02:18:53 PM

All i have to say is Liberty Reserve...same fate for Ripple.

Completely different situation.

Opencoin operates in the US under US law.

Opencoin is in the US and under US law, thus it will be even easier for the US to shut them down than it was for LR. Look at how easy it is to open an anonymous ripple account: they don't even ask you for a name and email address.

As OpenCoin has stated, even if that would happen today before the source code was released, they would just at that moment, release it. Wouldn't matter what happens to OpenCoin after that, as it relates to the Ripple network.

misterbigg

legendary

Activity: 1064

Merit: 1001

Quote from: mmeijeri on May 30, 2013, 02:05:57 AM

Quote from: JoelKatz on May 29, 2013, 06:40:12 PM

Bitcoin got this right and people who don't understand security are mindlessly trying to fix what is not broken.

Dan Kaminsky disagrees with you and so does Adam Back. The fear is that while an attack on Bitcoin might require ASICs, such an attack might actually succeed, especially if governments restrict access to mining ASICs, as they could. An attack requiring just a botnet or rented computing power might be easier to mount, but more difficult to bring to a successful conclusion. Then again, something based just on CPUs may be more vulnerable to what Erik Voorhees calls the original 51% attack: democracy. This could lead to some sort of taxation mechanism or taint detection being built into the protocol. Personally I believe we may need a mix of algorithms.

I would be interested in seeing a new thread started specifically related to the topic of the hash function in Bitcoin, including what was said here regarding SHA256 versus more CPU friendly algos (scrypt).

bitcoinbear

hero member

Activity: 518

Merit: 500

Quote from: Este Nuno on May 30, 2013, 04:04:58 AM

Quote from: high110 on May 29, 2013, 02:18:53 PM

All i have to say is Liberty Reserve...same fate for Ripple.

Completely different situation.

Opencoin operates in the US under US law.

Opencoin is in the US and under US law, thus it will be even easier for the US to shut them down than it was for LR. Look at how easy it is to open an anonymous ripple account: they don't even ask you for a name and email address.

SamS

member

Activity: 70

Merit: 10

Quote from: Este Nuno on May 30, 2013, 04:04:58 AM

Quote from: high110 on May 29, 2013, 02:18:53 PM

All i have to say is Liberty Reserve...same fate for Ripple.

Completely different situation.

Opencoin operates in the US under US law.

I disagree. The stated issue for Liberty was not following KYC and AML thereby allowing money laundering. My personal opinion is the ATM heist funds allegedly being routed through Liberty was a stake through the heart. That was a big deal for the banks and for government's ability to manage the system.

This could easily happen if Ripple gateways and exchanges fail to comply with these regulations and "hot" money moves through the system. Of course, the same could be said for bitcoin or any other crypto-currency's exchanges or gateways, so I don't think the issue is Ripple specific.

You can't be a regulator if you can't regulate and I don't see the US in particular but really any government in general not wanting to control their currency and keep out competitors. There was actually a decent length discussion of how this plays out at a recent meet-up I went to. I don't think it's at all obvious that any crypto-currency avoids regulation at the crypto/fiat interface. Others do...

yocko06

full member

Activity: 182

Merit: 100

1Kgyk4nQSzb3Pm9E9vWiGVyJ6jpPwripKf

Quote from: b!z on May 30, 2013, 06:44:31 AM

Quote from: HostFat on May 28, 2013, 03:16:02 PM

I think that here there are many haters with an hand, but they buying XRP with the other

That's exactly what is happening.

open coin must be killing it! they will be richer than satoshi

b!z

legendary

Activity: 1582

Merit: 1010

Quote from: HostFat on May 28, 2013, 03:16:02 PM

I think that here there are many haters with an hand, but they buying XRP with the other

That's exactly what is happening.

Sukrim

legendary

Activity: 2618

Merit: 1007

I doubt there is a "issue more XRP" button/switch in the server interface, so that is quite unlikely. I am willing to bet ("real" block chain issued) Bitcoins on this by the way!
Closing down would be far more of a risk, though volume is so low at the moment that I'd wonder under which warrant authorities would close down a start-up that might eventually be used in the distant future to launder money?

ShadowOfHarbringer

legendary

Activity: 1470

Merit: 1006

Bringing Legendary Har® to you since 1952

Quote from: Este Nuno on May 30, 2013, 04:04:58 AM

Quote from: high110 on May 29, 2013, 02:18:53 PM

All i have to say is Liberty Reserve...same fate for Ripple.

Completely different situation.

Opencoin operates in the US under US law.

However it is centralized - so it is possible for FED to close it down pretty easily or dilute the XRP supply like they do with dollar.

oakpacific

hero member

Activity: 784

Merit: 1000

Quote from: N12 on May 29, 2013, 01:14:26 PM

Quote from: colour on May 29, 2013, 01:08:02 PM

Quote from: N12 on May 29, 2013, 12:45:21 PM

How many XRP does OpenCoin still hold? 60%? 95%? 99%? Who knows!

OpenCoin is anything but open, they are completely intransparent about their "monetary policy". I don't know if willfully or out of incompetence, because I'm certain it will end up hurting Ripple.

I don't think it will ever be possible for Opencoin to prove how many coins they actually gave away. Even if they released a list of all the addresses to which they sent XRP, these addresses could just belong to Opencoin themselves. In order to prove a distribution that would be considered fair by the majority of users, they would have to reveal the identity behind those adresses, which is not going to happen in such a semi-anonymous system. The intransparency is unavoidable, I guess.

I actually didn't realize that. Great point.

What if FEDs start telling you"since I can never prove I am not giving preference in the distribution of dollars, I am not going to publish any data any more?"

And the fact that XRP has to remain such a secretive currency is more evidence that it is "defective by design".

Este Nuno

legendary

Activity: 826

Merit: 1002

amarha

Quote from: high110 on May 29, 2013, 02:18:53 PM

All i have to say is Liberty Reserve...same fate for Ripple.

Completely different situation.

Opencoin operates in the US under US law.

mmeijeri

hero member

Activity: 714

Merit: 500

Martijn Meijering

Quote from: JoelKatz on May 29, 2013, 06:40:12 PM

Bitcoin got this right and people who don't understand security are mindlessly trying to fix what is not broken.

Dan Kaminsky disagrees with you and so does Adam Back. The fear is that while an attack on Bitcoin might require ASICs, such an attack might actually succeed, especially if governments restrict access to mining ASICs, as they could. An attack requiring just a botnet or rented computing power might be easier to mount, but more difficult to bring to a successful conclusion. Then again, something based just on CPUs may be more vulnerable to what Erik Voorhees calls the original 51% attack: democracy. This could lead to some sort of taxation mechanism or taint detection being built into the protocol. Personally I believe we may need a mix of algorithms.

Topic: Ripple or Bitcoin - page 40. (Read 34134 times)