Comments on: The promise of Ripple http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: traduceri daneza romana http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-53540 Mon, 29 Sep 2014 13:58:01 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-53540 Great website you have here but I was curious if you knew of any message boards that cover the same topics discussed in this article? I’d really love to be a part of online community where I can get feedback from other knowledgeable individuals that share the same interest. If you have any suggestions, please let me know. Thanks a lot!

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By: Dicewin http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-48635 Mon, 18 Nov 2013 22:47:52 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-48635 I am new to all this ripple stuff. Could anyone please send me some ripple ?

rHXLScTtvJ8ZH6bouX79s61QYpi6rcyLjU

Thanks

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By: p0pe http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-47221 Wed, 05 Jun 2013 10:51:42 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-47221 The problem with Ripple is that it is not decentralized, which Bitcoin is.
As you mentioned the problem with Bitcoin is that the transactions are way too slow and the price fluctuates too much. There are however alt coins on the market that fix some issues with Bitcoin. A good example is the Worldcoin crypto currency, which has instant transactions.

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By: ReverendJohnny http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-46739 Tue, 23 Apr 2013 05:54:11 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-46739 Hey Felix Trout or Salmon or Herring or whatever your name is. Have you ever heard of Bitpay? Do you know what that is? I’ll just explain it to you in simpleton terms so your pea brain can understand it.

Let’s say I have a coffee shop and I accept Bitcoins.
On Monday Bitcoins are worth $100 each. You come in on Monday and buy 10 pounds of coffee at $10 per pound. You pay me 1 Bitcoin and you leave a happy customer.

Then . . . 15 minutes later, Bitcoins “crash” and their price goes DOWN to $10 per Bitcoin?

As the owner of the coffee shop am I sad?
Do I cry?
Did I take a loss?
No I did not.
Why not?
Because I use Bitpay.
Bitpay is the largest Bitcoin processor in existence and guess what? They pay me the $100 and everything is fine.
So let me give you a BIT of advice before you go wasting your time at the keyboard again:

1) You might want to consider getting a new job because you are failing at the one you have.

2) If you do keep your current job (God forbid), PLEASE, PLEASE, PLEASE do a little research before spouting off at the mouth. Diarrhea is bad enough coming out the back side, but when it’s coming out of a person’s mouth, it is nothing short of disgusting.

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By: Peter12 http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-46667 Tue, 16 Apr 2013 14:13:34 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-46667 Ripple is a trojan-horse posing as a better Bitcoin, but it doesn’t have anything new to offer – just a centralized Bitcoin-clone as a get-rich-quick scheme for the VCs. Ripple does nothing to sidestep wild price speculation, nor KYC/AML regulations so it is no different to current bitcoin exchanges. Their debt-based system is a smokescreen for the ultimate prize: their majority-owned XRP currency which they hope becomes the defacto currency used on the network.

Ripple replaces a decentralized system with a centralized one, which makes it completely antithetic to Bitcoin. OpenCoin will be subject to US laws and seizures so there will be no incentive to use it, except to enrich the OpenCoin stockholders. There are many other VC-funded Bitcoin startups such as Bitpay and Coinbase which help the bitcoin ecosystem rather than coopt it.

“Ripple hasn’t succeeded yet. But at least — unlike bitcoin — it has a genuine hope of doing so” Why it that? Because it’s centralized where one party owns 25% of the total currency and is accepted nowhere?

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By: dsquared http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-46650 Mon, 15 Apr 2013 05:55:39 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-46650 from the department of “err, no” …

[Users are anonymous (or, technically, pseudonymous)]

The bit in parentheses basically means “or, technically, no they’re not”. The ripple wiki is pretty upfront about this to be fair – it’s not intending to be an anonymous system and it maintains a full audit trail.

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By: jdat747 http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-46649 Sun, 14 Apr 2013 15:06:28 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-46649 We don’t need a big company to play GOD of the crypto’s and manage prices. We don’t need a new FED of the crypto world to ruin the fairness like the FED and IMF have done for our fiat currencies.

The point of Bitcoin is that people know exactly what they are getting and the value of the system is fair and decentralised. Ripple places too much power in the hands of its creator, and how long before power corrupts?

The only crypto-currency I will ever get behind is one that is free, decentralised, and anonymous. There is no limit to the number of crypto’s that can be created. Prices will stabilize in the crypto world as their float increases relative to fiat currencies. Soon crypto value relative to fiat will be as flat and boring as the current trading between fiats on forex, and it will largely be dominated by automatic trading programs.

the only reason there is volatility is because it is all so new. litecoins, terracoins, and many other basic copies of bitcoin are already coming out. soon new ones will come out at pace that matches demand, and prices relative to fiat will stabilize.

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By: julienalex http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-46648 Sun, 14 Apr 2013 13:14:49 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-46648 The BIG issue is that Open Coin, a for-profit company, could theorically, as you mention, become the new central bank. What’s there legitimicy?

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By: AdrianBrenes http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-46647 Sat, 13 Apr 2013 20:49:29 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-46647 1. Bitcoins seem so dangerous. Thanks God that the other currencies don’t have currency risk.

2. Market regulation on bitcoins is barely growing, not the least thanks to current volatility. With time, price should stabilize. This has happened with gold and and all of the current currencies (you can say not with the euro, for instance, but only because it’s a mark spin-off).

3. Maybe this shock can kill bitcoins but if it doesn’t, it will strength them.

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By: ZephyrCA http://blogs.reuters.com/felix-salmon/2013/04/11/the-promise-of-ripple/comment-page-1/#comment-46644 Sat, 13 Apr 2013 01:53:38 +0000 http://blogs.reuters.com/felix-salmon/?p=21238#comment-46644 Felix, I hope you do some more postings on Ripple as it certainly looks interesting. I’m not an economist. I’m someone who’s tried to educate himself on basic economic principles so please excuse me if my terminology or understanding is incorrect. If my understanding of monetary theory is correct, than any unit in a monetary system is basically an IOU. And Ripple seems to understand this in that it’s a system for creating and transferring IOUs. IOU exchanges in the trusted network model might be akin to extending a bar tab to a known customer or close associate of that customer. While IOU exchanges between people not part of a trust network with each other might be more akin to buying and using traveler’s checks. Are these analogies valid?

What I don’t understand is how liquidity is maintained across the Ripple network. If the vast majority of people using gateway A are exchanging their dollars for IOUs and the vast majority of people using gateway B want to exchange the IOUs created at gateway A for dollars, how is this handled? The Ripple site didn’t explain this in its overview and I’m hoping you can shed some light on the matter.

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