BitShares Forum
Other => Random Discussion => Topic started by: mf-tzo on April 21, 2015, 08:24:38 am
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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..
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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.
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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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if my balance is freezable ... what has changed since banking 1.0 then ^^
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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.
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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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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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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...
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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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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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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..
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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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I haven't seen this posted here yet:
http://www.coindesk.com/western-union-pilot-program-ripple-labs/
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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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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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Ripple is making a play for the mainstream. Think about it, in the last few months they've partnered with banks, submitted to the SEC, courted WU and proven that they're willing to exert freezing power over then network on behalf of the powerful entities that use it....therefor making it more appealing to people who play by the same set of rules. Ripple is not run by crypto idealists, it's run by straight up entrepreneurs.
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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.
Yes, and yes. Exactly. +5% +5% +5%
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Ripple is making a play for the mainstream. Think about it, in the last few months they've partnered with banks, submitted to the SEC, courted WU and proven that they're willing to exert freezing power over then network on behalf of the powerful entities that use it....therefor making it more appealing to people who play by the same set of rules. Ripple is not run by crypto idealists, it's run by straight up entrepreneurs.
Even though I don't like their centralized system, I have to agree with you. Apart from Bitcoin, Ripple is easily the "alt" that is going to have adoption.
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Once ripple connects with every single bank, transferring funds worldwide and fx trading will be very cheap. This will be an amazing improvement for the current banking system (and it is about time that something like that happens)..No doubt about that but that's all..
Once Bitshares has only a couple of fiat gateways and merchants worldwide accept bitassets as payments can you imagine how huge will be the implications of that in every single aspect of the financial sector?
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Once ripple connects with every single bank, transferring funds worldwide and fx trading will be very cheap. This will be an amazing improvement for the current banking system (and it is about time that something like that happens)..No doubt about that but that's all..
Once Bitshares has only a couple of fiat gateways and merchants worldwide accept bitassets as payments can you imagine how huge will be the implications of that in every single aspect of the financial sector?
The "that's all" part is honestly very good. I mean, people in Angola can't send money to other countries, you have to be stuck with Kwanza which is worthless. I'm pretty sure it happens in other countries. With that, everyone should be able to transfer money worldwide at least, with less restrictions. At the moment you can't even get bitcoin in Angola unless someone trades directly with you. It's crazy.
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everyone should be able to transfer money worldwide at least, with less restrictions. At the moment you can't even get bitcoin in Angola unless someone trades directly with you. It's crazy.
I'd like to see all of our wallets have the ability to send BitAssets via email, social posts, sms.. No pc's or smartphones needed.
The video subtitles I'm working on right now for example are in 10 languages, but I will expand that to 30 or 40 languages if our wallets will just support lower-tech transfers.
Blockchain.info does this already too: https://blockchain.info/wallet/send-via
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Once ripple connects with every single bank, transferring funds worldwide and fx trading will be very cheap. This will be an amazing improvement for the current banking system (and it is about time that something like that happens)..No doubt about that but that's all..
Once Bitshares has only a couple of fiat gateways and merchants worldwide accept bitassets as payments can you imagine how huge will be the implications of that in every single aspect of the financial sector?
The "that's all" part is honestly very good. I mean, people in Angola can't send money to other countries, you have to be stuck with Kwanza which is worthless. I'm pretty sure it happens in other countries. With that, everyone should be able to transfer money worldwide at least, with less restrictions. At the moment you can't even get bitcoin in Angola unless someone trades directly with you. It's crazy.
People in Greece would definitely like to have the option to transfer their euro from the Greek banks to US or UK or GE or FR banks now. Can they do that now? No.Because in order to open an international account they need at least 100,000 euro on their bank account.
Would they be able to do that with Ripple?No. Because they will still need 100,000 in their international account.
Will they be able to do that with Bitshares in the future? Hopefully yes, if everything goes as planned. Because they wouldn't need to have 100,000 on their bank account but they will be able to convert as few euros they want to biteur and make transactions in the net.
Don't you guys see the huge difference between a decentralized bank and a centralize bank and how this can change everything? Ripple, bitcoin, Goldman Sacks won't be able to even compete with Bitshares in a couple of years..
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The Ripple fine is a signal to the market that the government has Ripple in it's giant pocket. It's purposeful.
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The Ripple fine is a signal to the market that the government has Ripple in it's giant pocket. It's purposeful.
Well said. +5%
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Once ripple connects with every single bank, transferring funds worldwide and fx trading will be very cheap. This will be an amazing improvement for the current banking system (and it is about time that something like that happens)..No doubt about that but that's all..
Once Bitshares has only a couple of fiat gateways and merchants worldwide accept bitassets as payments can you imagine how huge will be the implications of that in every single aspect of the financial sector?
The "that's all" part is honestly very good. I mean, people in Angola can't send money to other countries, you have to be stuck with Kwanza which is worthless. I'm pretty sure it happens in other countries. With that, everyone should be able to transfer money worldwide at least, with less restrictions. At the moment you can't even get bitcoin in Angola unless someone trades directly with you. It's crazy.
People in Greece would definitely like to have the option to transfer their euro from the Greek banks to US or UK or GE or FR banks now. Can they do that now? No.Because in order to open an international account they need at least 100,000 euro on their bank account.
Would they be able to do that with Ripple?No. Because they will still need 100,000 in their international account.
Will they be able to do that with Bitshares in the future? Hopefully yes, if everything goes as planned. Because they wouldn't need to have 100,000 on their bank account but they will be able to convert as few euros they want to biteur and make transactions in the net.
Don't you guys see the huge difference between a decentralized bank and a centralize bank and how this can change everything? Ripple, bitcoin, Goldman Sacks won't be able to even compete with Bitshares in a couple of years..
They can't do it now the same way they can't do it now with BitShares or Bitcoin (in Angola at least). In the future, if BitShares can achieve that and hopefully will, Ripple will probably too, at least I think it makes sense to do so. The objective should be to facilitate transactions, including access to them so a 100,000 deposit in the future doesn't make sense. I'm not saying they will do that, but according to what they seem to defend, it makes sense if they do.
I know well the difference between centralized and decentralized, thanks. But you can't say BitShares will be the only one doing that. In fact, with partnerships with the banks and capital, Ripple is way closer of achieving that than BitShares or any other coin atm. The problem is they do it in a centralized way and that is not desirable of course, but still, they are closer than the rest of every other crypto. I dont own any ripple btw
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The Ripple fine is a signal to the market that the government has Ripple in it's giant pocket. It's purposeful.
Well said. +5%
Damn there are so many people worth their eyes wide open on this forum. Gives me hope for the future. ..