Topic: The True Explanation of Ripple for Bitcoiners - page 4. (Read 17535 times)

I walked by the Ripple booth probably a dozen times this past weekend.

Did anyone see any executives like Larson answering questions?  The only ones I saw were devs.

Sorry I didn't read this post of misterbigg. That means that he gave himself lower as he was before or the former rational posts he just copy pasted from a Ripple archive or different persons are acting 24/7 under this name and some of them are not so good educated.

LOL Smoothie, he must be very pissed

Read closer of Mr. Bigg's posts.

The guy condones manipulation, he hopes Ripple can establish gateways for people to open up "checking accounts" to use ripple, he claims a lot when most of what is claimed is not even reality.

He calls people asshats because we disagree with him and he censors posts in his moderated Ripple shill thread.

Also the guy is so immature as to PM me to tell me that based on my posted age on my account on this forum (which is not true) that he is shocked how I act. This shows me that he likes to classify people by their ages which I for one am against.

This is the same guy that claimed Litecoin was a scam when it was at 6 cents and look how wrong he was. Litecoin isnt even controlled by a central authority yet he claimed Litecoin was a bullshit copy.

He hopes Ripple/OpenCoin turn a profit then he will be profitable with his XRP investment.

I certainly hope those thinking about using Ripple actually wait until what OpenCoin says they are going to do...they actually do. So many broken promises  and mislabeling of what Ripple is and isn't by the creators.

Lastly, I listened to Chris Larsen talk in the alt-chain panel at the conference this past weekend and each time a question was posed his answers didn't really sell Ripple as viable alternative to Bitcoin nor a compliment. For being one of the main ripple talking heads not to be able to CORRECTLY and CLEARLY describe what the Ripple system is and how it works, is quite a big failure.

I am surely not a Ripple fun and I don't ever had any Ripple but I must state that misterbiggs and joekatzls posts are very civilized and very rational at the first view. Probably they are the best payed Ripple bloggers. On the other side they are a lot of trolls payed with a couple of Ripples which are spreading a lot of erroneous rumors and are spamming and irritating everywhere. They are doing the dirty work for the top Ripplers and their boss in the background and they can remain with clean hands.
I must recognize that is a very clever organized system oiled with 50 millions of $ + some from Google.

They need to stop lying about the open source claim because it makes the whole project look intellectually dishonest.

I hope OpenCon's Cripple system never catches on.   

Being civilized is nothing to be proud of. It means to be dehumanized, brainwashed, collectivized, governed, ruled, slaved.

Exactly. Which is why I feel it's important to start up a negative publicity campaign against Ripple and OpenCoin Inc.

Advertising on bitcointalk.org is just the start.

Frozenlock: you got a point there

I guess that I'm oscillating between two approaches:

A) Ripple is the reproduction of a flawed, debt based system, willing to parasitize Bitcoin to ultimately compete with it through a pre-mined crypto controlled by a handful of individuals

B) Ripple is really everything stated in a),  but their crypto has no real potential to compete with Bitcoin

I have to also admit that this heavy promotion among bitcoiners kinda irritates me.  I'm testing Ripple intensively, and as you all know you do not hold BTC in Ripple, you hold BTC IOUs. This kinda defeat the whole purpose of using BTC's. What would Satoshi think about people trading BTC IOUs? Heck, you can also create more BTC IOUs inside Ripple than the total amount of Real BTC existing.

And I still see nearly nothing real being bought with it(I checked nearly all Ripple forums before I say that), does that mean it's the greatest scam ever?

XRP's market cap is currently 1.875.000.000USD - more than 37% higher than BTC

Guess who said that and in what context.

It's quite simple, really.  Bitcoin does not need Ripple, Ripple does not need Bitcoin.

Now let's move this (and the other Ripple threads) to a different sub-forum.

My biggest worry is that its not open source, and they just lie saying it is.  Just blatant lies.

I can understand they do this not because of bugs, beta, etc, but because they want marketshare, and once they have it, it might be released as open source.

Fact is they don't care about open source, its just all excuses to get marketshare, and be noticed by a bank or investors.  And its working.

As for the Mt.Gox comment about everybody wanting a distributed exchange, yes, people want an open source distributed exchange, not a closed source one owned by one company.

I'll just quote yourself:


So why some are "overreacting" to Ripple?
Perhaps because this is a Bitcoin forum and yet it seems to be the main Ripple publicity platform?

Edit: In fact "Bitcoin" seems to be their biggest publicity platform. Weren't they at the Bitcoin conference?

I believe we are overreacting to Ripple.

I will ask you a question: when you first heard about Bitcoin, why did you fall in love with it?

Maybe because is decentralized. Or because the inflation is built into the system to pay miners, who secure the network. Or because you do not need to trust any third party.

We all know Ripple has nothing in common with Bitcoin, except that it uses cryptography too. Ripple is a debt based system, you hold and trade IOU's, and in fact Ripple takes to a distributed level all the flaws of the banking and financial system that we bitcoiners dislike.

I would say this is not a Ripple fault - it deals with fiat currencies, and the flaws of a trust and debt based system are inherent to fiat currencies.

Then, Ripple has his own crypto, but it's 100% premined and controlled by a private company. I think everybody interested in cryptos will agree that this fact is a huge drawback, and quite the opposite of the cryptocurrency philosophy founded by Bitcoin. I myself would be very worried about transferring significant value to a currency with XRP's characteristics, as a single player has too much power from the very beginning. We could say that is the "get rich tool" of a handful of individuals who control the immense majority of it, this is its purpose, and everybody can see it.

Last but not least, I have security concerns with Ripple. I still do not get what is the incentive of validators to run the nodes. Mining in bitcoin has a very clear purpose and a very clear reward everybody understands almost immediately - and everybody would have the motivation to mine under the correct circumstances. But what about validation nodes in Ripple? Their security model is still unclear to me - maybe mrbigggg can shed some light?

Making a long story short: I can understand the accusation of Ripple wanting to "profit" from Bitcoins appeal, but I do not think they will be able to harm it. At least I hope XRP's won't be able to harm Bitcoin, because as a crypto currency Bitcoin is superior in so many ways and everybody can see it.

No, it wouldn't. It would be a better idea to grasp what ripple is: a flawed debt marketplace and a premined currency.

+1 I wanna know too. We have like 3-5 threads about ripple here.

Why is this not in alt-coins forum?

Hey, there's so many recent threads debating ripple I don't know where to put this.  Also I don't want to make another thread.


Did anyone see the speech on the NetSuite system for business etc?  https://www.youtube.com/watch?v=Vx7-R11_DDw   (from digitalmagus7 series 2013 conference)

Having had a small business myself in the early net days.  I used software for sales inventory etc.  Had a credit card system to swipe cards to accept those.  You know typical small business.

Wouldn't this software accomplish everything ripple is saying by just having the software (and of course compliance to regs)?

A company like new egg could use this software and deal in worldwide currencies instantly right?  Isn't a system like this, then, a good option for mass-utilization of BTC without centralization or Ripple?

Am I missing something?
Thanks, sorry if in wrong drop of ripple threads xD