Topic: Why Ripple is Superior to Bitcoin... - page 3. (Read 5733 times)

There would be a market for FF miles.  There most likely will be whether airlines participate or not.  If there is a market in FF miles and I have them, then Ripple will find the best path for me to pay someone in the currency they would like to accept (I can accept or decline to take that path).

As to the programming, I'm pretty sure it's simply a matter of interfacing with Ripple using the API, although that certainly isn't my expertise, so I don't want to say I know for sure how difficult it would be.

I think the "fairness" thing has to do with people thinking there is only one way for a currency to be distributed and the fallacy that "mining" somehow made that fair.   In both cases the original programmers got a big chunk of the original coins.  

Ripple will slow down to a trickle
Soon it will meet the man with the sickle
I call foul like a doubble-dribble
Swiming in the wake of bitcoin like a cripple

I feel bad for the kids who think will tripple
Sucking on the free money tit like a nipple

 

Call me the Forum Freestyler

My bad.  It's been a tough crowd. 

Well if you had a BTC account and they did too, you would just send it the normal way.  That's safe and doesn't involve any trusted intermediaries.

Right now there are only a few ways to get into Ripple (gateways).  Bitstamp is one.

So if you wanted to transfer 1 BTC to your friend John Doe who doesn't want to figure out how to get a Bitcoin address...  you could set him up a Ripple account.   You would send some BTC to your Bitstamp account and then withdraw it into Ripple.   Now you can use those BTC for all kinds of transactions.  You could exchange them for XRP, LTC, there is even a guy who issues silver dimes.  And of course you could send 1 BTC to your friend John Doe.  Because there are so few gateways the only downside is that your friend would need to open an account in Bitstamp in order to redeem the Bitcoin in Ripple for a real Bitcoin.   Of course he could use that Bitcoin in Ripple to get some XRP or exchange it for USD or EUR, etc.  

Because there are so few exchanges, this seems like a hassle, and it is for a transaction like this.  This is why I keep saying that in a payment system startup like this, the important things are users and those users will be brought on by existing financial services primarily (in my opinion).   In order to realize the full power of the system a certain critical mass of users and gateways will be necessary.

FF miles would be worth how much. Not $1 each for sure. Would there be a market for trading FF miles. I don't think any airline wants people to dump the miles for cheap. What if a few people bought cheap and had a lifetime of free miles when they normally would have paid 10x more for those flights in USD. See the problems here already?

There is way too much programing and networking and logistics between the companys involved. These players already have sweet deals with each other so why let a new player in the game. It just don't make no sense.

I think the issue of fairness is a huge deal breaker for most people as well. I doubt I would ever buy a ripple because of the distribution system alone. Bitcoin was not 100% fair but I think its a close as we will get and like some one on here just said its the money people have invested in bitcoin mining and the security that it provides that give it staying power.

The demand for ripple may come to a trickle...

One bad thing about ripple is that you need at least a PhD degree to understand how it works. I have one, and I had a hard time figuring this out.

Shortly speaking, if you want to send 1 BTC to your friend, you open your btc client, press "send" button, type your friend's bitcoin address, 3 confirmations, done. Ripple comes into play if you have 1 BTC, and your friend wants Brazilian reals from you.

Well of course you have to already have Bitcoin to be able to pay with Bitcoin.  Just like you need to already have XRP to be able to pay with Ripple.

Maybe AFTER you set everything up, XRP is a little more transparent to the user, but setting it up is hardly any less complicated than buying some bitcoin.

that is probably because it has been presented as a currency start-up.

I've been doing some reading up and to me it seems like a payment-system (a la paypall) with some internal currency attached to it, which, compared to current banks/payment-methods,  serves no one except the creators.

But anyway, I think there is a much larger problem: in Europe there already are payment systems that are fast, free and secure. However, it turns out to be very difficult to get one system going throughout Europe: every country has their own system (supported by banks that operate in that country). This is simply because it benefits the nations economy; if other countries accept the German system, then German webshops would benefit from that. So.. Spain/Italy have recently launched their own system (mybank). A few years ago IDEAL and Giropay (dutch / german) started to operate for EU, but other countries (banks) simply refused to accept it. It is too political.

So.... even if it works technically, politically it will fail.
Ripple will be born cripple (at least in Europe).

Take it easy bro. I understand conversion part. Do you understand humor? Why did you offer 4 of your precious BTC for 50,000 crappy XRP if a guy can give them away for free?

You clearly don't understand that those XRP can be converted into BTC or USD in about 3 minutes in Ripple.

So how does it work? If I want to transfer 1 BTC to my friend John Doe - do I need to buy some XRP or pay a fee of the transaction?

I curse you. You are destroying the market
 

Get off. Ripple is a piece of crap. Why don't you send me your 50,000 XRP and I send you 0.1 of my precious BTC?

There is no way Ripple is better than Bitcoin, I doubt if it will even make a ripple in the crypto-coin market.

It's nothing but a scam from the developers to get noobs to buy into a coin that the devs have a massive stash of which took little effort to mine.

It's the massive mining effort from countless people, that gives Bitcoin it's value.

 

I think the hardest part for people when they approach Ripple, is that they are approaching it like a currency start-up (like Bitcoin).   A new Bitcoin-like currency could be released open-source and no specific amount of users would be required to have it be used as a currency (in fact this happens every day on this sub-forum).   However, when you are looking at something as a payment system that includes all currencies then adoption of the payment system is a priority and a requirement for it to be a success.   And until that happens the currency inside that system is essentially worthless (it's only worth right now is speculative and for transaction fees for the small number of Beta testers).

The successful approach to each of these two scenarios is not the same.

Ha, way to low ball it. A quick look at the Currency Exchange subforum and I've found 4 threads with better offers.

Seems somebody doesn't have as much faith in Ripple as they claim

I think, for exchange of your bitcoins into other currencies. Distributed exchange is built in into ripple.

No retort.  I imagine these things would end up in Ripple too.  Either directly through the card companies or through 3rd parties.   You'd get your airline points or credit card points or whatever (which are essentially another currency), and these could be paid by the company directly into your Ripple account which you could then trade for BTC or do whatever you wanted with them.  I could pay for my pizza in airline points.  Seriously.  The merchant would get US dollars (if that's what they sold pizza in) and I could pay with my AA frequent flyer miles.  Can your bank do that?

How many XRP do you need to get to the next level?   

Seriously, I was hoping for a retort to my post asking why people would give up free airline tickets and 1% cash back from debit cards. Cards they already have in their wallets.

I'll give you BTC4 for the 50,000 XRP.