Ripple starts to conquer the world from China - page 8.

mymenace

legendary

Activity: 1596

Merit: 1061

Smile

Quote from: KonstantinosM on September 03, 2013, 04:55:24 PM

I decided to make a wallet for ripple, then I found out that it's closed source and controlled by a for profit corporation.

I don't think we can trust a single entity to give away every single coin in a system.

Ripple is shit. I'm mining New Bitcoin now, What we really need is an alt like New Bitcoin only about 64 times faster. Something like bitcoin only 256 times the blocks (still halving every 4 years) Transactions would confirm in 14-15 seconds and ripple would have no market.

Maybe ripple should be considered a scam. The whole system is dangerous and may collapse. I'm not willing to take such risks.

Sounds like Fastcoin, not sure if it meets all of what you stated but it is fast.

KonstantinosM

hero member

Activity: 1493

Merit: 763

Life is a taxable event

I decided to make a wallet for ripple, then I found out that it's closed source and controlled by a for profit corporation.

I don't think we can trust a single entity to give away every single coin in a system.

Ripple is shit. I'm mining New Bitcoin now, What we really need is an alt like New Bitcoin only about 64 times faster. Something like bitcoin only 256 times the blocks (still halving every 4 years) Transactions would confirm in 14-15 seconds and ripple would have no market.

Maybe ripple should be considered a scam. The whole system is dangerous and may collapse. I'm not willing to take such risks.

AmazonStuff

hero member

Activity: 628

Merit: 500

Quote from: QuantPlus on September 03, 2013, 04:17:39 PM

Quote from: AmazonStuff on September 03, 2013, 03:25:18 PM

Quote from: Hazard on September 03, 2013, 03:06:21 PM

Centralized, premined, and closed source. Shifts around debt rather than actual value. It would be completely dead if it wasn't leeching off bitcoin, like some sort of parasite.

Shame on you for supporting such shit.

I don't have nothing to be shamed about. It's my decision and my investment, it's my business where I will invest or not to invest. As much as you have the right to have your own opinion, I have the right to have my own opinion. It's best for everyone that both sentiments are heard.

You are being lied to by dozens of Ripple Stooges.

Now you have become a Ripple Dupe. Congratulations.

XRP trading volume is about 10% of what it was 2-3 months ago...
The network is a Ghost Town.

http://bitcoincharts.com/charts/rippleXRP#rg60zigDailyztgSzm1g10zm2g25zv

There is a problem with bitcoincharts reporting ripple price and volume, sometimes chart is stucked, so take that graphs with a grain of salt.
http://xrp.webr3.org/btc-xrp graphs are real-time, but sometimes they get stucked too...

JonHolmquist

full member

Activity: 169

Merit: 101

Jon Holmquist

Quote from: DeathAndTaxes on September 03, 2013, 12:54:37 PM

They aren't "working hard" at open sourcing it. The code exists, you release it with open source license .... TADA it is open source.

Ripple is simply bait and switch. Ripple has no good mechanism to handle fradulent servers so they won't open source it. Of course saying that means it is a DOA so they will let it linger on with the bait of open source. It has been years and it is no closer to being open source then when initially promised. In a couple more years once it has enough marketshare it will morph to "an open network" which is marketing for closed source but anyone can obtain a license to run a server. OpenCoin will issue and revoke licenses of peers to ensure that only compliant ones exist.

I guess the term is a little misleading.

The goal here it open source it. The path to getting it open sourced requires the addition of several not coded features.

Things like anti-ddos features, peer discovery improvements, and limiting validation broadcasts.

These features are core requirements before the server code is open sourced. If we don't take the time to polish these features, the network could open itself up to attacks.

QuantPlus

sr. member

Activity: 280

Merit: 250

Quote from: AmazonStuff on September 03, 2013, 03:25:18 PM

Quote from: Hazard on September 03, 2013, 03:06:21 PM

Centralized, premined, and closed source. Shifts around debt rather than actual value. It would be completely dead if it wasn't leeching off bitcoin, like some sort of parasite.

Shame on you for supporting such shit.

I don't have nothing to be shamed about. It's my decision and my investment, it's my business where I will invest or not to invest. As much as you have the right to have your own opinion, I have the right to have my own opinion. It's best for everyone that both sentiments are heard.

You are being lied to by dozens of Ripple Stooges.

Now you have become a Ripple Dupe. Congratulations.

XRP trading volume is about 10% of what it was 2-3 months ago...
The network is a Ghost Town.

http://bitcoincharts.com/charts/rippleXRP#rg60zigDailyztgSzm1g10zm2g25zv

AmazonStuff

hero member

Activity: 628

Merit: 500

Quote from: aggster on September 03, 2013, 04:01:38 PM

i logged into my ripple account the other only to find that all bu6t 50 of my ripples had been transferred to another address, and there doesn't seem to be anything I can do about it, not good.
never had this problem with bitcoins, i wont be using ripple again

Sorry to hear that, next time use long, unique and complicated password with numbers, symbols etc... Sad

aggster

full member

Activity: 214

Merit: 100

i logged into my ripple account the other only to find that all bu6t 50 of my ripples had been transferred to another address, and there doesn't seem to be anything I can do about it, not good.
never had this problem with bitcoins, i wont be using ripple again

AmazonStuff

hero member

Activity: 628

Merit: 500

Quote from: Stephen Gornick on September 03, 2013, 03:39:28 PM

Quote from: DeathAndTaxes on September 03, 2013, 01:36:17 PM

Ripple will never be open source. It is just the bait to build the network. Once it is large enough there is little reason to open source it.

Would the arrival of the day men with guns show up to confiscate hardware and shut it down increase the likelihood they release as open source?

Today Ripple is being used as the successor to the "redeemable code" -- a debt-based voucher. Releasing as open source is the only way for that network to continue after such an event.

With all due respect Mr.Gornick, but that is just one of the Ripple features. For me Ripple is not a Bitcoin competitor, so:
Ripple != Bitcoin

it's more like:
Ripple = Bitcoin + MtGox (or Bitstamp, BTC-e....etc.)

Is MtGox centralized? Is MtGox open-source?

Who many of Bitcoin traders are using a Bitcoin in de-centralized fashion, for example without exchange websites? I think maybe up to 5%...

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: DeathAndTaxes on September 03, 2013, 01:36:17 PM

Ripple will never be open source. It is just the bait to build the network. Once it is large enough there is little reason to open source it.

Would the arrival of the day men with guns show up to confiscate hardware and shut it down increase the likelihood they release as open source?

Today Ripple is being used as ~~the successor~~ [Edit: a successor] to the "redeemable code" -- a debt-based voucher. Releasing as open source is the only way for that network to continue [Edit: and existing XRPs held by anyone to continue to have value] after such an event.

AmazonStuff

hero member

Activity: 628

Merit: 500

Quote from: Hazard on September 03, 2013, 03:06:21 PM

Centralized, premined, and closed source. Shifts around debt rather than actual value. It would be completely dead if it wasn't leeching off bitcoin, like some sort of parasite.

Shame on you for supporting such shit.

I don't have nothing to be shamed about. It's my decision and my investment, it's my business where I will invest or not to invest. As much as you have the right to have your own opinion, I have the right to have my own opinion. It's best for everyone that both sentiments are heard.

Hazard

legendary

Activity: 980

Merit: 1000

Centralized, premined, and closed source. Shifts around debt rather than actual value. It would be completely dead if it wasn't leeching off bitcoin, like some sort of parasite.

Shame on you for supporting such shit.

AmazonStuff

hero member

Activity: 628

Merit: 500

Quote from: Lauda on September 03, 2013, 02:08:20 PM

Quote from: DeathAndTaxes on September 03, 2013, 01:36:17 PM

Once again the CODE ALREADY EXISTS. They don't need to "work hard" to release it as open source. They just do it. They could do it in all of 5 minutes if they wanted to. Over a year later and they haven't .... that means they don't WANT to release the source code.

Ripple will never be open source. It is just the bait to build the network. Once it is large enough there is little reason to open source it. Does a lack of open source hurt PayPal?

This.
OP you're an obvious Ripple supporter. Most likely Ripple will never be open source. It takes a few minutes to make your code open source, not a few years.

Yes, I'm a Ripple supporter, why not?
I have invested a lot in btc, I also invested in Ripple. I spend a lot of time doing research about Ripple and when I was sure that it's safe, I invested in it.

First, I shared a wide spread opinion that it's a fraud, but after I did some more research, I found that it's a safe and a good investment. My money is in Ripple for about 5 months and they didn't scammed me. I don't want to promote Ripple, it's OpenCoin's business, but I think that Bitcoin community is unfair about Ripple.

There is a reason why Ripple code is not open-sourced yet, they want to make code more secure, before they go with it in public. Part of the code is publicly available, part is not. For me as a Ripple investor, it would be a disaster if they release the code to the public, before it's a double-checked and with security holes, so I don't have a problem with Ripple not being open-source at this moment, I have patience, it's still beta.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: DeathAndTaxes on September 03, 2013, 01:36:17 PM

Once again the CODE ALREADY EXISTS. They don't need to "work hard" to release it as open source. They just do it. They could do it in all of 5 minutes if they wanted to. Over a year later and they haven't .... that means they don't WANT to release the source code.

Ripple will never be open source. It is just the bait to build the network. Once it is large enough there is little reason to open source it. Does a lack of open source hurt PayPal?

This.
OP you're an obvious Ripple supporter. Most likely Ripple will never be open source. It takes a few minutes to make your code open source, not a few years.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Once again the CODE ALREADY EXISTS. They don't need to "work hard" to release it as open source. They just do it. They could do it in all of 5 minutes if they wanted to. Over a year later and they haven't .... that means they don't WANT to release the source code.

Ripple will never be open source. It is just the bait to build the network. Once it is large enough there is little reason to open source it. Does a lack of open source hurt PayPal? OpenCoin's entire business model has been to own all the coins, give away some, and sell of the rest in the future. If Ripple is open source it can be cloned and the cloned version can have the "premine" removed.

AmazonStuff

hero member

Activity: 628

Merit: 500

Quote from: DeathAndTaxes on September 03, 2013, 12:54:37 PM

They aren't "working hard" at open sourcing it. The code exists, you release it with open source license .... TADA it is open source.

Ripple is simply bait and switch. Ripple has no good mechanism to handle fradulent servers so they won't open source it. Of course saying that means it is a DOA so they will let it linger on with the bait of open source. It has been years and it is no closer to being open source then when initially promised. In a couple more years once it has enough marketshare it will morph to "an open network" which is marketing for closed source but anyone can obtain a license to run a server. OpenCoin will issue and revoke licenses of peers to ensure that only compliant ones exist.

Well, who can determine are they working hard or not?

What I know for sure is that OpenCoin recently hired Nikolaos D. Bougalis (Senior Software Engineer), his full-time job is open-sourcing Ripple, read about it here:
https://ripple.com/forum/viewtopic.php?f=1&t=3557

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

They aren't "working hard" at open sourcing it. The code exists, you release it with open source license .... TADA it is open source.

Ripple is simply bait and switch. Ripple has no good mechanism to handle fradulent servers so they won't open source it. Of course saying that means it is a DOA so they will let it linger on with the bait of open source. It has been years and it is no closer to being open source then when initially promised. In a couple more years once it has enough marketshare it will morph to "an open network" which is marketing for closed source but anyone can obtain a license to run a server. OpenCoin will issue and revoke licenses of peers to ensure that only compliant ones exist.

AmazonStuff

hero member

Activity: 628

Merit: 500

Quote from: Lauda on September 03, 2013, 12:35:56 PM

Quote from: miffman on September 03, 2013, 12:17:53 PM

I don't like ripple just because it's closed source and 'premined' in a sense.

Those 2 are the main problems with it.

I don't have a problem with it, they are serious and transparent company, it's clear who they are:
https://opencoin.com/

OpenCoin is backed by investors like Google Ventures, they are working hard on open-sourcing Ripple and their team is constantly growing and communicating on their forum:
https://ripple.com/forum/

Also, I haven't seen in the past any kind of pre-mined coins misuse by OpenCoin, they release XRP via giveaways and donations.

For me, Ripple is a future internet financial eco-system, if it succeed it will probably overgrow bitcoin, but I don't see them as a competitors, I see them more like complementary tools.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: miffman on September 03, 2013, 12:17:53 PM

I don't like ripple just because it's closed source and 'premined' in a sense.

Those 2 are the main problems with it.

AmazonStuff

hero member

Activity: 628

Merit: 500

Quote from: Fablio2 on September 03, 2013, 12:31:46 PM

Quote from: AmazonStuff on September 03, 2013, 11:40:39 AM

Quote from: Lauda on September 03, 2013, 11:34:42 AM

Actually whoever invests in ripple now is making a huge mistake.

Ripple is not just a alt-coin, it's a payment system that makes easier for people in countries with rigid bank regulations to move their money, so I really think that OpenCoin made a good move, it's like they asked me for advice Cheesy

Ripple isn't an alt-coin. Ripple is only a payment system (like paypal and others), but based on peer-to-peer system.

Ripple IS alt-coin (XRP) + payment system (Ripple network)

AmazonStuff

hero member

Activity: 628

Merit: 500

Quote from: Lauda on September 03, 2013, 12:15:49 PM

meh, my country is never gonna allow something like ripple, I've made this sure with my dad. Cool

GL in other ones tho Cheesy

Actually, there are already two official Chinese gateways:
1. RippleCN
2. RippleChina

http://www.xrpga.org/gateways.html

Topic: Ripple starts to conquer the world from China - page 8. (Read 10036 times)