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Offline mf-tzo

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The end of Ripple from cryptocurrency believers?
« on: April 21, 2015, 08:24:38 AM »

http://bitcoinist.net/not-decentralized-ripple-freezes-1m-user-funds/

It appears that Ripple will support just fine the existing system. Bitcoin whales should just move to Bitshares..

Offline Ben Mason

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Re: The end of Ripple from cryptocurrency believers?
« Reply #1 on: April 21, 2015, 09:19:46 AM »
http://bitcoinist.net/not-decentralized-ripple-freezes-1m-user-funds/

It appears that Ripple will support just fine the existing system. Bitcoin whales should just move to Bitshares..

I've said it before, as have others......Ripple and any system like it that retains authority over transactions are the manifestation of central banking 2.0

If the power is available, eventually it will be used to further special interests and the corruption sets in.

Offline bitsapphire

Re: The end of Ripple from cryptocurrency believers?
« Reply #2 on: April 21, 2015, 09:35:10 AM »
Bitshares gateways operate in the same manner. Gateway IOUs are credit, they are not supposed to be fungible. In Bitshares' case you have bts and bitusd for that.
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Offline cass

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Re: The end of Ripple from cryptocurrency believers?
« Reply #3 on: April 21, 2015, 09:39:37 AM »
if my balance is freezable ... what has changed since banking 1.0 then ^^
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Offline Ben Mason

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Re: The end of Ripple from cryptocurrency believers?
« Reply #4 on: April 21, 2015, 09:50:48 AM »
Bitshares gateways operate in the same manner. Gateway IOUs are credit, they are not supposed to be fungible. In Bitshares' case you have bts and bitusd for that.

Yes, but Ripple retains power that Bitshares decentralizes and therefore does not.  Ripple apparently pressured Bitstamp into freezing a transaction and they complied.  Would Bitshares be able to do that to a Bitshares gateway?  I don't think so because there is no central authority within Bitshares that could punish a gateway.  A gateway is responsible for it's own conduct and reputation, but in this case, their decision may have been affected by the power Ripple holds over the network.

Offline fuzzy

Re: The end of Ripple from cryptocurrency believers?
« Reply #5 on: April 21, 2015, 10:00:46 AM »
if my balance is freezable ... what has changed since banking 1.0 then ^^

Agreed.  This is why I believe we should move to granular whitelists and blacklists (webs of trust). 
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Offline xeroc

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Re: The end of Ripple from cryptocurrency believers?
« Reply #6 on: April 21, 2015, 12:29:42 PM »
Yes, but Ripple retains power that Bitshares decentralizes and therefore does not.  Ripple apparently pressured Bitstamp into freezing a transaction and they complied.  Would Bitshares be able to do that to a Bitshares gateway?  I don't think so because there is no central authority within Bitshares that could punish a gateway.  A gateway is responsible for it's own conduct and reputation, but in this case, their decision may have been affected by the power Ripple holds over the network.
Yup ... people need to realize that they can do with the blockchain whatever they want .. no need to ask for permission!

Though it's a different thing for gateways, they figuratively interconnect the two worlds and need to comply with regulations .. that's why even in bitshares they will be allowed to free costumers IOUs .. though they only harm their own users base (i.e. bitstampUSD) and not the blockchain. The blockchain doesn't care. and there is still a unfreezable bitUSD (the one BIG difference to ripple -- they only have IOUs)
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Offline mf-tzo

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Re: The end of Ripple from cryptocurrency believers?
« Reply #7 on: April 21, 2015, 12:48:24 PM »
Ripple is awesome as current banking 2. You can move around millions without the need to have exposure in XRP. Therefore XRP as an investment to me has no value... Ripple as a centralized network has/will have great great value.

Bitshares will become awesome as decentralizing the financial sector. You can not create bitassets without having BTS therefore BTS the token will have great value (or at least I hope so).. We only need the platform to work properly, the rules to be finalized and a couple of fiat gateways...

I was showing to some friends yesterday how fast bitshares transactions and how user friendly with the name registration are and light bulbs were signing on top of their heads...

Offline kenCode

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Re: The end of Ripple from cryptocurrency believers?
« Reply #8 on: April 29, 2015, 10:07:29 AM »
I was showing to some friends yesterday how fast bitshares transactions and how user friendly with the name registration are and light bulbs were signing on top of their heads...

I do it the same way.
It's tough to explain it to some people but if you just show them how the web wallet works (voip screenshares are a great way too!) then it all clicks a lot faster.
 
The older people want to secure their savings and retirement and the younger people ask me more about investing for their future, paying off their student loans and stuff.
 
When they learn about how we're decentralized and how crazy-fast BitShares' transactions are too, it's a no-brainer.
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Offline fuzzy

Re: The end of Ripple from cryptocurrency believers?
« Reply #9 on: April 29, 2015, 10:39:43 AM »
Ripple is awesome as current banking 2. You can move around millions without the need to have exposure in XRP. Therefore XRP as an investment to me has no value... Ripple as a centralized network has/will have great great value.

Bitshares will become awesome as decentralizing the financial sector. You can not create bitassets without having BTS therefore BTS the token will have great value (or at least I hope so).. We only need the platform to work properly, the rules to be finalized and a couple of fiat gateways...

I was showing to some friends yesterday how fast bitshares transactions and how user friendly with the name registration are and light bulbs were signing on top of their heads...

Have you ever thought about holding meetups?
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Offline mf-tzo

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Re: The end of Ripple from cryptocurrency believers?
« Reply #10 on: April 29, 2015, 07:58:50 PM »
Once we stabilize the rules of the game and the client, I will definitely make a lot of meetups and hopefully will bring new people (some very wealthy I hope) in the system...
But as the situation stands right now I I don't know the final rules and I don't like misleading people.. I believe in the future of Bitshares no matter what because I believe that the Devs and BM are honest with good intentions and many people in this community want to make BTS the next best thing without carrying only for their profits. I do not want to convince people jumping in the system because of my beliefs but rather inform them properly based on proven results.

We will eventually get there..


Offline bitsapphire

Re: The end of Ripple from cryptocurrency believers?
« Reply #11 on: April 29, 2015, 10:40:49 PM »
Once we stabilize the rules of the game and the client, I will definitely make a lot of meetups and hopefully will bring new people (some very wealthy I hope) in the system...
But as the situation stands right now I I don't know the final rules and I don't like misleading people.. I believe in the future of Bitshares no matter what because I believe that the Devs and BM are honest with good intentions and many people in this community want to make BTS the next best thing without carrying only for their profits. I do not want to convince people jumping in the system because of my beliefs but rather inform them properly based on proven results.

We will eventually get there..

Quote of the day. Thank you for the encouragement! I think we all need that from time to time here :)
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Offline bobmaloney

Re: The end of Ripple from cryptocurrency believers?
« Reply #12 on: April 30, 2015, 12:41:46 AM »
"The crows seemed to be calling his name, thought Caw."
- Jack Handey (SNL)

Offline kenCode

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Re: The end of Ripple from cryptocurrency believers?
« Reply #13 on: April 30, 2015, 08:05:33 AM »
I haven't seen this posted here yet:
http://www.coindesk.com/western-union-pilot-program-ripple-labs/

jeez, nice find Bob. ya know, every story I read about ripple ticks me off. they hire conflict-of-interest types, put them on their "Board", are not truly decentralized (see my post on ripple getting ripped), and now they want to shake hands with the fucking DEVIL too? Western Union is is the one company (besides Paypal) that, I'd say, 99% of us want to see GO UNDER. so, wtf? OMG (i sound like a valley girl right now, sorry)
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Offline Ben Mason

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Re: The end of Ripple from cryptocurrency believers?
« Reply #14 on: April 30, 2015, 12:15:27 PM »
I haven't seen this posted here yet:
http://www.coindesk.com/western-union-pilot-program-ripple-labs/

jeez, nice find Bob. ya know, every story I read about ripple ticks me off. they hire conflict-of-interest types, put them on their "Board", are not truly decentralized (see my post on ripple getting ripped), and now they want to shake hands with the fucking DEVIL too? Western Union is is the one company (besides Paypal) that, I'd say, 99% of us want to see GO UNDER. so, wtf? OMG (i sound like a valley girl right now, sorry)

this! It's like so many of the handful of people on this planet who comprehend blockchain tech are only interested in power & profit or simply don't have the vision of what could be.  By the way, your efforts have been brilliant of late.

 

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