Are you seriously saying that when OpenCoin unilaterally changed account reserve requirements, which is akin to Federal Reserve tampering with interest rates?
{
"Account" : "rrrrrrrrrrrrrrrrrrrrrhoLvTp",
"Fee" : "0",
"Sequence" : 0,
"SigningPubKey" : "",
"TransactionType" : "SetFee",
"hash" : "C6A40F56127436DCD830B1B35FF939FD05B5747D30D6542572B7A835239817AF",
"ledger_index" : 562177,
}
Decentralized
- OpenCoin unilaterally changed account reserve requirements.
The change has to be accepted by the majority of validators. You already know that, unless you didn't read
the thread where you learned about that SetFee transaction.
Bitcoin will work if I have completely different nodes with someone else as long as we're on the same blockchain. It's not the same with Ripple.
No it won't, you will not be on the same blockchain if you are connected to completely different nodes. That's why the bitcoin client connects to a
bootstrap IRC channel, so that everyone can connect to the same set of ip addresses. The UNL basically serves the same purpose, except where bitcoin requires hash power as a defense against an ip address Sybil attack, ripple uses an explicit list of non-colluding nodes. The function of the UNL is analogous to a miner choosing to mine at three different pools because she trusts that all three will not collude against her.
Take the barrier of entry. The Bitcoin network has a very low barrier to entry, being that if you run Bitcoin-Qt, the recommended client of that time, you are now part of the network. The current recommended client on Bitcoin.org, MultiBit still makes you part of the network. With Ripple, the recommended client, ripple.com/client does not make you part of the network, and does not allow you to choose your own validators. Ripple inherently favors centralization.
Running the bitcoin client only means you can broadcast transactions, that's somewhat shallow participation in the network (you aren't mining blocks). The ripple client has a setting in Advanced -> options to set your validator node / rippled server, so its just not true that it doesn't allow you to choose your own validators (the setting is an explicit field right there in the UI).
I also believe that a trust free solution is inherently more decentralized than a solution that requires trust, even if granting trust is decentralized (which isn't with Ripple at it's current stage).
That's fine, but bitcoin alone is only a trust-free solution if you never do any trading on exchanges. You are the one comparing apples to oranges, because the ripple protocol decentralizes multi-currency exchange. The bitcoin protocol decentralizes bitcoin transactions.
Miners can't change the rules. Miner can't validate invalid tx. Miners can't simply decide to print 100 billion BTC on a whim.
Ripple did not print BTC, they printed XRP. Every alt-chain miner decides, on a whim, to print their own pet alt-coins (litecoins, feathercoins, ppcoins, etc). May the best alt-coin win.
Tell me how I can print 100 billion XRPs.
Start your own ripple ledger.