If I want move $1M from MtGox to my bank account can Ripple do this. NO ! Will anytime Ripple be able do this ? NEVER! Bitcoin is future not Ripple. :-)
EDIT: but maybe you will able to buy coffe with Ripple. :-)
Topic: You guys gonna become paranoid about Ripple - page 10. (Read 18663 times)
its still very much alpha, not even beta yet (though thats what they are calling it and i am in it). But from what I can see so far, if it does take off, this will be the catalyst which takes both ripple and bitcoin over the moon leaving fiat behind. They both complement each other using this system.
So it's a credit system. How will it manage interest rates? Or are you just assumed to lend money without compensation?
Whatever lender and borrower agree to I guess.
So it's a credit system. How will it manage interest rates? Or are you just assumed to lend money without compensation?
I can only imagine how I would implement a ripple system myself, and am very excited at the possibilities. I plan on using the system from day 1 of launch. Waiting for the initial discussion thread.
Prosper was an enormous failure (for the "investor"). Ripple will follow with those two idiots at the helm.
Ripple is not a direct competitor to Bitcoin, it's something that can actually make Bitcoin more useful. Ripple is not a currency specifically, it's a transaction & credit system that can be used with a number of currencies, including Bitcoin.
exactly, but I do you expect the sheeple to get it?
I must say you have a point: I didn't sell from $30 down to $2.5 last year because I knew bitcoin wasn't affected fundamentally by the gox hack and bad press. However the "idiots" drove the price down anyway
.I'm pretty sure ripple wont have such a strong effect, though.
I have never heard of Bernie Madoff
FTFY hehehehe
Confidence scamming doesn't work the same way in Ripple as it does in traditional web of trust networks. Ripple is based on relationships to people you really know (like your closest friends in real life) and the network builds up from there. There is no direct link to totally unknown people, everything goes through known friends. There is little possibility in Ripple to scam unknown people since scamming will actually hurt the people closest to you.
It's the closest friends of a scammer that lose the most in case of a scam, which means that in a Ripple economy you need to choose your friends wisely. You can trust less known people directly of course, but the amount of money that could potentially be scammed through that link can be limited to small amounts very easily.
Personally I think it's a promising system but the actual implementation is still in alpha stage.
It's the closest friends of a scammer that lose the most in case of a scam, which means that in a Ripple economy you need to choose your friends wisely. You can trust less known people directly of course, but the amount of money that could potentially be scammed through that link can be limited to small amounts very easily.
Personally I think it's a promising system but the actual implementation is still in alpha stage.
This Ripple thing seems like paradise for confidence scammers.
This this this this this
I really can't wrap my head around how anyone thinks this is a good idea. At all.
what nobody is talking about:
ripple apparently has its own virtual currency. this is the 'potential trojan horse'.
ripple apparently has its own virtual currency. this is the 'potential trojan horse'.
100 billion(?) units pre-mined? No, thanks. I'll pass. lol
what nobody is talking about:
ripple apparently has its own virtual currency. this is the 'potential trojan horse'.
ripple apparently has its own virtual currency. this is the 'potential trojan horse'.
This Ripple thing seems like paradise for confidence scammers.
For now Ripple is closed I guess. If I go to the site and click any menu item it asks me for a login. I cannot read anything. Pretty weird way to market something ...
Ripple honestly sounds like the worst idea I've heard in a long time. I see no impact on BTC.
Ripple certainly looks interesting...but its no bitcoin. It looks like a fairly difficult thing to get off the ground anyway. Which is I guess why they're trying to use this community and bitcoin in general as a launching pad.
Pardon my french, but what the fuck is Ripple? And why should I give a flying fuck?
My best understanding is that is a bitcoin-otc style web-of-trust plus dated IOUs. When you have an IOUs to pay, it can be satisfied by a bitcoin transaction or by the other party issuing their own IOU before yours is due.
Pardon my french, but what the fuck is Ripple? And why should I give a flying fuck?
I think it will start from the small things.
It often happens that someone hasn't enough money on their wallet/debit card/bitcoin wallet/paypal account or else to pay the dinner/videogame/service/pizza/... (I'm talking about people that we know and trust for these small things)
Ripple will be used on our smartphones as a simple "note" for all these cases.
After a while there will become available the first connections between people that we don't know directly, and here we will start to see the "magic" of the system
It often happens that someone hasn't enough money on their wallet/debit card/bitcoin wallet/paypal account or else to pay the dinner/videogame/service/pizza/... (I'm talking about people that we know and trust for these small things)
Ripple will be used on our smartphones as a simple "note" for all these cases.
After a while there will become available the first connections between people that we don't know directly, and here we will start to see the "magic" of the system
Not to mention businesses with many transactions in both directions. Ripple keeps score and bitcoin is used to settle up at the end of the day.
The more people are willing to accept other than national currency, the better for bitcoin. It's not important who's gonna do the marketing.
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