issue is still ignored: 'If their page gets down all the ripple system is dead. simple as that.' .
No. Why? Ripple ledger is distributed just like bitcoin blockchain, isn't it?
Topic: Why Ripple is Superior to Bitcoin... - page 5. (Read 5712 times)
issue is still ignored: 'If their page gets down all the ripple system is dead. simple as that.' .
No. Why? Ripple ledger is distributed just like bitcoin blockchain, isn't it?
issue is still ignored: 'If their page gets down all the ripple system is dead. simple as that.' .
How is asking you "What page are you referring to?" ignoring you? I wish we could have a small IQ test before the system allowed people to respond to prevent this kind of idiocy.
Ripple is a closed source scam startup. Anyone who buys into that crap needs their head checked out.
The distribution of the XRP is the main problem. There are no clear rules set, Opencoin Inc. has billions over billions
of them and chooses how to give them away. At least with bitcoin the rules are set in the software.
The first giveaways were receiving up to 50000 XRP, now you get a few thousand if you are lucky.
This is very bad imho and makes the XRP exchange rates artificial high. Why not give out more XRP
to keep that somewhat stable. This also causes other problems, for example people buy XRP now
at super inflated rates thinking it will be Bitcoin 2.0, what if Opencoin starts to give away a few billions
on Facebook or so. XRP would probably drop pretty good in value and burn some people.
Also I don't like how it is advertised as open, while it is not (yes I know it is in beta blabla, bitcoin is too, so what, I can still look at the code)
Maybe the system should be reset with a fair XRP distribution system and the server opensource from the start, then I would like it :/
Why don't you answer these fair questions?
does it hurt too much to think about things like 'If their page gets down all the ripple system is dead. simple as that.' ?
and besides it does matter that it is closed source, since there is absolutely no proof of security if no-one can review it. that alone sets of the alarm bells over here (*scam* *scam*)
does it hurt too much to think about things like 'If their page gets down all the ripple system is dead. simple as that.' ?
and besides it does matter that it is closed source, since there is absolutely no proof of security if no-one can review it. that alone sets of the alarm bells over here (*scam* *scam*)
What page are you referring to?
It only matters that it's closed-source if they don't open the source to the public after it's out of Beta like they promised.
But, because you guys can't seem to get your brains off the little details (or even the big details) that are irrelevant to the big picture...
Imagine for a moment that Opencoin keeps their server software closed for YEARS. That's right YEARS. And during those years they manage to get all kinds of financial providers to use their system. They help them create custom front-ends so that it works seamlessly with the current banking system, people have apps on their computers, etc. etc.
Then once a critical mass of adoption as a payment system has been reached, they release the code to the public... and the code reviewers find that XRP is just as secure as Bitcoin. At that point, does it matter? I think not. I think xrp would rapidly become the most valuable virtual currency simply because the payment system ecosystem would make it the most trust-fee asset to have within that system.
It doesn't matter if Ripple is the system that makes this happen or some other system. The important thing is (IMHO), is that PAYMENT SYSTEM adoption must come first and must be inclusive of existing legal tender, and that payment system adoption will lead to better widespread adoption of the virtual currency vs. doing it the way Bitcoin (backwards). The thing is - all Bitcoiners think that every currency must come up the same way. That is not the case.
issue is still ignored: 'If their page gets down all the ripple system is dead. simple as that.' .
therefore no trust, no one has the ability to improve, so no one will adopt.
(ps, you sound like a car-salesman)
+2
I wish you guys would stop with the circle-jerk and help me understand how Bitcoin plans to become a mainstream currency.
Right now we are all sitting in a calm before the next wave of interest comes. The interest will come in the form of user friendly software that teams of developers around the world are losing countless sleep hours to create. They are trying to make easier ways for business's to accept BTC, safer ways to carry them/ be as accessible as fiat in pocket, as well as simplifying it for the mass market. As i type this million of dollars are being poured into the development of BTC in hopes to be the first in their specific niche. When the the software/hardware/consumer based products go live, that's when you will see rapid adoption. The next wave of interest will be bigger then the last, which was bigger then the last, and so on. The interest will continue to grow at exponential rates, that is unless some unforeseen flaw in BTC is discovered.
Why don't you answer these fair questions?
does it hurt too much to think about things like 'If their page gets down all the ripple system is dead. simple as that.' ?
and besides it does matter that it is closed source, since there is absolutely no proof of security if no-one can review it. that alone sets of the alarm bells over here (*scam* *scam*)
does it hurt too much to think about things like 'If their page gets down all the ripple system is dead. simple as that.' ?
and besides it does matter that it is closed source, since there is absolutely no proof of security if no-one can review it. that alone sets of the alarm bells over here (*scam* *scam*)
What page are you referring to?
It only matters that it's closed-source if they don't open the source to the public after it's out of Beta like they promised.
But, because you guys can't seem to get your brains off the little details (or even the big details) that are irrelevant to the big picture...
Imagine for a moment that Opencoin keeps their server software closed for YEARS. That's right YEARS. And during those years they manage to get all kinds of financial providers to use their system. They help them create custom front-ends so that it works seamlessly with the current banking system, people have apps on their computers, etc. etc.
Then once a critical mass of adoption as a payment system has been reached, they release the code to the public... and the code reviewers find that XRP is just as secure as Bitcoin. At that point, does it matter? I think not. I think xrp would rapidly become the most valuable virtual currency simply because the payment system ecosystem would make it the most trust-free asset to have within that system.
It doesn't matter if Ripple is the system that makes this happen or some other system. The important thing is (IMHO), is that PAYMENT SYSTEM adoption must come first and must be inclusive of existing legal tender, and that payment system adoption will lead to better widespread adoption of the virtual currency vs. doing it the way Bitcoin (backwards). The thing is - all Bitcoiners think that every currency must come up the same way. That is not the case.
Ripple is a closed source scam startup. Anyone who buys into that crap needs their head checked out.
However, as an everyday way of making payments to other people, not very useful (unless you already have tons of them and your friends and vendors have tons of them). In order to buy a pizza with Bitcoin, I need to find a merchant that accepts Bitcion, and then I need to find a way to get my money to an exchange (at a fee), then buy Bitcoin on that exchange (at a fee). That's a lot of work and expense to buy a pizza. Now I might be ideologically inclined to go through that work, but most people won't be. Most people are going to whip out their debit card and make a payment to the pizza guy with their fiat currency. That simple.
That Bitcoin debit cards are not yet available is not a fault of the currency, it just means that nobody has set up a Bitcoin debit card service yet.
It's completely doable.
there probably wouldn't be a market.
It is just incredibly stupid to lend something in a deflationary currency. if I had borrowed 1000btc to buy a bicycle 2 years ago then I would now have to work for the next 10 years to pay it back. I sincerely hope no one is that stupid.
in ripple space xpr is centralized and risk diverted to users. The only point to having centralized gov from a user perspective is to be able to hold gov responsible. In ripple you carry the risk - twofold. Many people dont understand this - therefor I will keep the free x' I got n sell them for an upside reward with zero risk. I like the idea of trust, dislike the idea of putting trust.
That Bitcoin debit cards are not yet available is not a fault of the currency, it just means that nobody has set up a Bitcoin debit card service yet.
It's completely doable.
It's completely doable.
You are sidestepping the issue. Having a Bitcoin debit card would still involve people moving USD (or other currencies) into Bitcoin in order to put the Bitcoin on the card. Why bother? Just buy the pizza with USD. Done.
Until this issue addressed, the only people who will be paying with Bitcoin are miners, early adopters, and idealists who already have them. And yes, you will find vendors that will accept them using services that turn them immediately into their local currency because who would want to turn away business? And of course, some vendors might want to hold on to some of the BTC for speculative reasons. However, none of that makes it a mainstream currency or anything close to it.
Mainstream usage will start with a payment system that doesn't interfere with the existing one (or makes things a lot easier). From there, adoption of alternate currencies will flourish. That's my view on this. I'm happy to consider other views though, I just haven't heard any yet.
no one said that ripple isn't solving some practical issues. The problem is just that it introduces a shitload of new problems that you are trying to ignore.
Colored bitcoins would add some Ripple features, but recent update makes it much more difficult to implement.
If their page gets down all the ripple system is dead. simple as that. Also since its limited to 100 billions, the number of accounts is limited too because they need a "reserve", and it will not get mass adoption.
And nobody knows if they can make another ton of 100 billion xrps if they want since its closed-source...
And nobody knows if they can make another ton of 100 billion xrps if they want since its closed-source...
Not one of you has addressed how Bitcoin is going to become a payment system. Ripple DOES address this FIRST. xrp will only take off in value once the payment system takes off.
You CAN'T USE BITCOIN until you exchange your regular money to get it. Why would someone do that to buy a pizza?
Answer this question and let me know how Bitcoin plans on addressing these problems.
Ripple on the other hand DOES address these issues.
If Bitcoin has something that will address these issues in the near future, I'd be happy to reverse my opinion. I don't see any answers other than people don't like that Ripple is closed source, they don't like that a company pre-mined 100,000,000,000 of that system's currency, or that they are worried their might not be enough currency to create an account for everyone in the world.
Are you guys for real?
I'm all about solutions. Tell me how Bitcoin fixes (or plans to fix) the issues I illustrated in my OP.
Why don't you answer these fair questions?
does it hurt too much to think about things like 'If their page gets down all the ripple system is dead. simple as that.' ?
and besides it does matter that it is closed source, since there is absolutely no proof of security if no-one can review it. that alone sets of the alarm bells over here (*scam* *scam*)
That Bitcoin debit cards are not yet available is not a fault of the currency, it just means that nobody has set up a Bitcoin debit card service yet.
It's completely doable.
It's completely doable.
You are sidestepping the issue. Having a Bitcoin debit card would still involve people moving USD (or other currencies) into Bitcoin in order to put the Bitcoin on the card. Why bother? Just buy the pizza with USD. Done.
Until this issue addressed, the only people who will be paying with Bitcoin are miners, early adopters, and idealists who already have them. And yes, you will find vendors that will accept them using services that turn them immediately into their local currency because who would want to turn away business? And of course, some vendors might want to hold on to some of the BTC for speculative reasons. However, none of that makes it a mainstream currency or anything close to it.
Mainstream usage will start with a payment system that doesn't interfere with the existing one (or makes things a lot easier). From there, adoption of alternate currencies will flourish. That's my view on this. I'm happy to consider other views though, I just haven't heard any yet.
However, as an everyday way of making payments to other people, not very useful (unless you already have tons of them and your friends and vendors have tons of them). In order to buy a pizza with Bitcoin, I need to find a merchant that accepts Bitcion, and then I need to find a way to get my money to an exchange (at a fee), then buy Bitcoin on that exchange (at a fee). That's a lot of work and expense to buy a pizza. Now I might be ideologically inclined to go through that work, but most people won't be. Most people are going to whip out their debit card and make a payment to the pizza guy with their fiat currency. That simple.
That Bitcoin debit cards are not yet available is not a fault of the currency, it just means that nobody has set up a Bitcoin debit card service yet.
It's completely doable.
Well said. Everyone focuses on closed source.
To quote an analogy I used before. Ripple is choosing to build the plane before they fly it.
To quote an analogy I used before. Ripple is choosing to build the plane before they fly it.
We can play with wording till the end of times. In essence: Ripple is closed-source and this outbalances all its advantages.
Opencoin says Ripple is open-source, but there are no sources in public. They should replace all "open" with "close", until that Ripple is scam.
The client is open source ... the server is in beta
Ripple and bitcoin solve different problems, ripple is clearing. Bitcoin is the reserve currency of the internet.
Both are needed.
The jury is out on opencoin's implementation.
But it's probably the best implementation to date.
Well said. Everyone focuses on closed source.
To quote an analogy I used before. Ripple is choosing to build the plane before they fly it.
That is one of the great things about Bitcoin. You can be your own bank. This is useful in the same way it would be useful to have a vault under your house to store gold and a Star Trek transporter to send that gold to whomever you wanted to instantly. Very useful.
Wrong way round. With bitcoin you can operate the warehousing function of a bank, but not the more important money creation function. With ripple you can be your own bank by creating IOUs that are backed by something. Whether anyone would want to use it is a different matter. You can *almost* do this in bitcoin, but it's very tricky. Bitcoin and ripple in theory should be complimentary ... in theory ...
OK. Bank Vault instead of Bank. Are you happy? Not sure what your argument is.
Ripple is a distributed payment system involving IOUs (which is exactly what we use now in our daily lives). If it takes off as a payment system then the only trust-free internal currency (xrp) will be very valuable. They are using payment system adoption as the route to trust-free currency adoption. Bitcoin is doing the reverse.
Open-source, closed-source. Who cares?
This automatically disqualifies anything you might have written about that.You fail to understand why it is vital for an distributed currency to be opensource, and you also fail to understand that if a company states something, he'd better not be lying.
You fail to understand that I'm talking about IDEAS and you are talking about particulars.
The entire IDEA of Ripple is a better execution of an alternative currency because it is inclusive of CURRENT currencies and can be used as a payment system for those currencies, and the adoption of the "trust free" currency is secondary.
What about this don't you understand?
and they can make another ton of 100 billion xrps..
They would need to start a new ledger for this. It is not improbable.
why couldnt there be a new reward on a ledger entry crediting opencoin with a second 100 bn, if they achieved consensus in the unique node list?
and they can make another ton of 100 billion xrps..
They would need to start a new ledger for this. It is not improbable.
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