Vinnie

What are your views on XRP?

336 posts in this topic

6 hours ago, Max Entropy said:

As I developer, I can imagine that the 'original OpenCoin/Ripple' source code and therefore intellectual property would be solely Jed's. But he needed worker bees to manage other business functions. So overtime when the worker bees, started to diverge from the developer's view of the world, Computing for Good, and focusing on the un-banked, I can imagine their interests were no longer aligned. 

It would make sense, for Jed to learn from this experience, and move on.

Nope. Jed had an idea and sought out @JoelKatz to investigate if a distributed agreement protocol could solve the double spend problem without a central authority. I always thought that @JoelKatz developed the Ripple Protocol Consensus Algorithm single-handedly until the lawsuit happened and it was revealed that Arthur owns the protocol. Legend has it that there is only one man who might be even more brilliant than JoelKatz. And that mysterious man's name is Arthur. There are no images of him online. He's just this guy... You know?

:P

 

 

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21 hours ago, Haydentiff said:

No, it's actually pretty insignificant and most people, even Bitcoiners, look at me like I have 2 heads when I tell them I can't open a bank account. I can see the wheels turning as people quickly start wondering what kind of weird things I must be into, haha. I had a difficult time when I ran for Congress because donations must be deposited into a bank account. When I tried to get help with that, I was told to register for some kind of number (I can't remember the name right this minute) and to use that number to open a bank account. Well, one the first steps in registering for that number ( a step that can't be skipped) is listing your current bank account information. There are many walls like this that others don't see that hold poor people and "undesirables" back. But there isn't very much interest in discussing it. IME, people are very apathetic to the struggle of others. Identity based access won't be an issue until "worthwhile" people start getting locked out too...

I haven't hit rock bottom just yet.

Ok, I only watched the first 5 minutes before I had to turn it off out of irritation. I disagreed with everything she said. I do not believe that the only reason Bitcoin has value is because people are betting on what it will become. I believe it has value because of what it already is. She thinks it's a misnomer to call it a currency because currency is defined (by her) as a medium of exchange. Well, that's exactly what I (and many, many others) use it for. AND Bitcoin has the 5 properties of currency: it's scarce, fungible, divisible, durable, and transferable.

I also don't believe that Bitcoin has "the aspiration of becoming paypal." Sure, there are probably some people hoping for that. There are definitely more than a few people obsessed over the amount of transactions per second. Personally, it's more important to me that everyone who needs/wants to access it can, rather than "the masses" using it for every day transactions without even realizing it. Which brings me to another complaint of hers that irked me. Having to show somebody a 12 minute video before they understand what Bitcoin is. Well, try and explain our current monetary system to somebody. It takes a hell of a lot longer than 12 minutes. Most people don't understand it and they have no desire to learn. To each their own, but ignorance can be dangerous. If people don't want to be bothered learning about Bitcoin, so be it. Creating apps that make payment transactions so easy that people don't even know they are using Bitcoin kind of defeats the purpose, IMO. Bitcoin is the opposite of blind faith.

I'm speaking for myself and probably hold an unpopular opinion, but I don't care if major retailers ever accept Bitcoin. I do care about how vulnerable people become when governments impose strict capital controls, or eliminate high banknotes causing the demand for a currency to drop lower than the supply, or depreciate a currency, or govern with economic incompetence that creates 500% inflation.

Hi Hayden,

You are fussing... I don't mean to be 'disrespectful', but it is because you hold different view points, and because you have a particular insight to 'circumstances' that I would consider your, say, weekly thoughts/YouTube videos, to be important.

It is precisely, because you have two (2) heads and it would take longer than twelve (12) minutes... that would add value to, say, YouTube channel. My sense, is that you have 'something to say' which is why you are at XRPChat. A more formal, regular and focused forum such as, a regular video series, would add value to you, and to those that would require 12+ seminar series.

--

 

I would not under-estimate Stellar and Jed's approach to technology adoption. He is working with the 'little guys' who, if then can handle the technology, and regulatory side, will push faster than any bank will ever. The money exchangers in say, Singapore or India are the ones who know how to move against the entrenched financial establishment. 

I remain, not impressed with Ripple's approach of doing 'back channel' business arrangements to secure their technology. For each channel, that Ripple establishes there will be 'side deals' amongst the participants, and I expect that this is where it will get messy.

If Stellar can connect, in a peer to peer method with the Bitcoin network, then I would go long on Stellar. I do not see, significant adoption of Stellar gateways, yet.

Edited by Max Entropy

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1 hour ago, Max Entropy said:

It is precisely, because you have two (2) heads and it would take longer than twelve (12) minutes... that would add value to, say, YouTube channel. My sense, is that you have 'something to say' which is why you are at XRPChat. A more formal, regular and focused forum such as, a regular video series, would add value to you, and to those that would require 12+ seminar series.

I don't like to listen to myself talk. I get on my own nerves. I'd rather come here and bug you guys. :D

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Well, that was a useful bit of information re: originators of Ripple. It is easy to wrong, for me, but it drags out additional information more informed sources.

Thanks!

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4 hours ago, Haydentiff said:

Nope. Jed had an idea and sought out @JoelKatz to investigate if a distributed agreement protocol could solve the double spend problem without a central authority. I always thought that @JoelKatz developed the Ripple Protocol Consensus Algorithm single-handedly until the lawsuit happened and it was revealed that Arthur owns the protocol. Legend has it that there is only one man who might be even more brilliant than JoelKatz. And that mysterious man's name is Arthur. There are no images of him online. He's just this guy... You know?

:P

 

 

+1

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5 hours ago, Max Entropy said:

Hi D-Fault123, I have been in that situation... it is difficult to let go of a company that one creates... So promoting XRP a year or even four (4) months prior to leaving, is for me understandable. At some point, control and direction of the company become the dominant factors, and moving on is the only path.

correction: prior to announcing to dump his billions of XRP on fairly illiquid markets and effectively destroy any confidence in the currency he promoted just one year before.

It was a malicious and unprofessional act. No one blames him for just "leaving".

Edited by D-fault123

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17 hours ago, Haydentiff said:

I don't like to listen to myself talk. I get on my own nerves. I'd rather come here and bug you guys. :D

It's a pity. I'd love to subscribe to the "HaydenCast" or the "TiffanyGram" or whatever the show would be called!

You have a lot of insight into diverse topics and your opinion & positions are well researched and, I think, make a lot of sense.

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I like how ripple is focussing on commercial space/b2b. That's what attracted me to XRP. 

 

one thing that confuses me/bugs me is that ripple allows banks to use their native country currencies instead of xrp. this makes me feel uncertain on xrp's future. but i dont know much at all. if xrp provides benefits over other currencies then im sure it will be used. if someone can clarify for me that would be great.

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27 minutes ago, elusive13 said:

I like how ripple is focussing on commercial space/b2b. That's what attracted me to XRP. 

 

one thing that confuses me/bugs me is that ripple allows banks to use their native country currencies instead of xrp. this makes me feel uncertain on xrp's future. but i dont know much at all. if xrp provides benefits over other currencies then im sure it will be used. if someone can clarify for me that would be great.

There is a significant cost savings when using XRP as well as faster processing times.  I imagine banks may use their own token or currency at first until they feel safe with the new tech. Then the greed will set in and using xrp will add millions to their pocketbooks

Edited by princesszerp

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5 minutes ago, elusive13 said:

I like how ripple is focussing on commercial space/b2b. That's what attracted me to XRP. 

1. Thank you for getting back on topic!

2. You're a newbie, so your feedback is especially interesting and appreciated. (Welcome!)

3. To Ripple team @Vinnie / @nikb / @JoelKatz / @mDuo13 / @warpaul et al: Has Ripple looked at BitMint or the concept of "tethered money"? I'm wondering since you're renown experts in the fintech space if some folks (probably those more in the biz/mgmt end) know of the concept, or have spoken to, Gideon Samid (I bet he and David Schwartz would have the most "epic" conversations on cryptography!). It's a slightly different take on smart/digital money, i.e. the contract is "inside of" the money itself, so to speak, not on the blockchain and not account based like Ripple/Bitcoin/Ethereum, and from what I understand is just a randomised cryptographic bit-string tethered to some contractual purpose at the point of issuance. He also proposes the idea of cascading, evolving "super money" systems, which is very interesting indeed. He thinks cryptocurrency will eventually be taken over by tethered-fiat or super-fiat (backed by commodities/assets). He also thinks that current cryptography is still potentially vulnerable; apparently BitMint is not susceptible at all in the way blockchains are, but much of the reasoning as to why is above my pretty little head (randomisation, bla bla, cyphers, bla bla math...).

:)

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