Topic: Ripple & XRP: a potential successor to BitCoin? (Read 1937 times)
Where can I go to buy XRP?
going research them and try them out.
XRP is a silly name and Ripple will fail partly because of that. Sounds like something a 12 year old came up with.
ISO 4217 requires that currency designators be three-letter codes and that designators not issued by a country start with the letter 'X'. http://en.wikipedia.org/wiki/ISO_4217Tha's really interesting. It seems, creators of bitcoin didn't bother about following the standards but those of Ripple do. Another example of more professional approach of Opencoin guys.
Ripple is all about traceable, centralized payment system which is opposite to BitCoin which enables decentralized, anonymous P2P payment.
There are many Ripple-like payment systems in the past (e.x eGold). I don't really know what is the point here.
There are many Ripple-like payment systems in the past (e.x eGold). I don't really know what is the point here.
Well, bitcoin seems to depend on cenralized exchange instead which is Mt. Gox... IMO, the real strenght of bitcoin is media coverage, something the older currencies and payment systems lacked in the past. Guys behing Ripple know it very well.
XRP is a silly name and Ripple will fail partly because of that. Sounds like something a 12 year old came up with.
ISO 4217 requires that currency designators be three-letter codes and that designators not issued by a country start with the letter 'X'. http://en.wikipedia.org/wiki/ISO_4217I am new to learning about Ripple. My question is that with 100 Billion potentially in circulation, how high could they potentially be valued assuming the company is successful?
It doesn't really matter if it's 21 million, 100 billion or 10 trillion as long as it can be subdivided. For instance, AFAIK each Bitcoin can be subdivided to 100 million smaller units to ensure the currency is useful for low value payments even if it value grows to, say 1000 dollar per BTC. With 100 billion XRP such subdivision is simply not necessary but appreciation of this currency is same possible.
Exactly!
I am new to learning about Ripple. My question is that with 100 Billion potentially in circulation, how high could they potentially be valued assuming the company is successful?
It doesn't really matter if it's 21 million, 100 billion or 10 trillion as long as it can be subdivided. For instance, AFAIK each Bitcoin can be subdivided to 100 million smaller units to ensure the currency is useful for low value payments even if it value grows to, say 1000 dollar per BTC. With 100 billion XRP such subdivision is simply not necessary but appreciation of this currency is same possible.
i THink ripple may be a successor as they offer instant money transfer as well compared to bitcoin.
XRP is a silly name and Ripple will fail partly because of that. Sounds like something a 12 year old came up with.
Ripple is all about traceable, centralized payment system which is opposite to BitCoin which enables decentralized, anonymous P2P payment.
There are many Ripple-like payment systems in the past (e.x eGold). I don't really know what is the point here.
There are many Ripple-like payment systems in the past (e.x eGold). I don't really know what is the point here.
I think the power in Ripple is not to succeed Bitcoin, it is to bypass SWIFT.
It is a SWIFT alternative.
It is a SWIFT alternative.
I am new to learning about Ripple. My question is that with 100 Billion potentially in circulation, how high could they potentially be valued assuming the company is successful? Bitcoin max is supposed to be 21 million I believe. Also, I am still confused about the role of Ripple. Can someone put it into the simplest of terms? Is it more of a facilator than a competitor to Bitcoin? Thanks.
I guess my question is: Does Ripple present the same opportunity to compete against central banks as Bitcoin does, or is it just trying to be the next PayPal? Also: Will XRP ever be traded the same way bitcoin is?
I think, all is true. XRP has potential for becoming currency alternative to Bitcoin, even better one, as intergated with its own payment system. Hence, it may become more popular among retailers than BTC.
Anyway, I think we can expect explosion of newly created cryptocurrencies in the next year time, some are going to be better than BTC, the others worse. The point is, the whole process may lead to marginalization of BTC and depreciation of its value.
Why would anyone use the system if they keep half the XRPs for themselves?
people that dont know this fact
or people who just don't care
I can see ripple being a big success. For people who aren't savvy with tech especially. I think the mystery of Bitcoin can a be a turnoff for some. Because Ripple is not created anonymously and has a company behind it I can see more average Joes trusting it—for better or worse.
Trusting Ripple? Or wait, I don't think so. Such a company can go bankruptcy tomorrow like millions of start-ups in the world
I can see ripple being a big success. For people who aren't savvy with tech especially. I think the mystery of Bitcoin can a be a turnoff for some. Because Ripple is not created anonymously and has a company behind it I can see more average Joes trusting it—for better or worse.
Additionnally, Ripple enforces the consensus policy by giving some preferred nodes a validation role ("validator"). If you want to add a real validator, you need to know who this validator is (you cannot add a random node, since random nodes can be poisoned, ie fake validators). Thus harming two core values of a true decentralized currency:
- anonymity (to be trusted, validators need to reveal information about them)
- decentralization (a set of limited validators owns the power on the network)
- anonymity (to be trusted, validators need to reveal information about them)
- decentralization (a set of limited validators owns the power on the network)
Ripple can't be a store of value like Bitcoin.
Ripple algorithm is also a joke. The consensus is based on a reputation system.
Given enough time, any reputation system can be abused. You create one billion fake nodes (which is inexpensive), and let them behave nice for a month. Then you attack.
Bitcoin consensus is based on computing power. Very few people/organization have the computing power to abuse its reputation system.
Ripple algorithm is also a joke. The consensus is based on a reputation system.
Given enough time, any reputation system can be abused. You create one billion fake nodes (which is inexpensive), and let them behave nice for a month. Then you attack.
Bitcoin consensus is based on computing power. Very few people/organization have the computing power to abuse its reputation system.
I'm curious about Ripple too.
maybe in the future it will be more than this
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