It is closed-source, centralized, has a currency called XRP that is 100% premined and in the hands of the creators, and the whole thing is owned by a for-profit company.
Is this not a problem for you Coinseeker? If not then wtf are you doing on bitcointalk? This is the most important thing about bitcoin, besides it can't be printed from ass, and you think it's just irrelevant?
1. OpenCoin has stated repeatedly they will open source upon coming out of Beta.
2. There is no "pre-mined" because there is no mining mechanism. Either case, Ripple is not a currency anyway, so who cares? It's a payment network. Like Paypal for crypto and fiat but pretty much free. Learn the difference.
3. Since when did being a for profit company become a negative? Free markets are only good, sometimes?
So to answer your question, yes, this is all irrelevant to me. If you have anymore questions, PM me.
about 2: XRP might not be mined, but it's issued by them and they control it. roughly 13,000 XRP are worth 1 BTC currently. They say it's just for spam prevention... but why is the value so high?
Speculators, same as Bitcoin. You can't stop people from putting a value on something, even if it's in their own mind. Everyone is looking to "get rich quick" so they drive the value up. Either case, this has nothing to do with the Ripple payment network. It dosent matter what the value of XRP is, the network functions the same whether they are worth $1 or $1 million.
