ripple rally

[monsterer]

It really isn't "decentralized" if ISP's are controlled by corrupt institutions that let some huge players get away with the most egregious acts

Here is a good definition of what decentralised actually means to me, in terms of crypto-currencies: you own the true value unit of the currency, not an IOU saying you're owed some amount. No one can take it away from you, barring a 51% attack, or equivalent systematic failure.

There is a different kind of 'decentralised' that people will sometimes confuse with the above one, which is the HSBC model: HSBC has many branches, throughout the world, therefore it is decentralised.

These two definitions of the word are very different.

[monsterer]

How much swift payment system is currently worth?

Find out what the daily amount of fiat transferred by swift is, compare to the daily XRP transaction volume, then scale the market cap of XRP according to that ratio.

[fuzzy]

Disagree. 
Ripple really concerns me.

I think ripple labs is going to find it incredibly hard to decentralise. Say for arguments sake that XRP became a decent store of value with which you could peg fiat derivatives to like in bitshares. How on earth would they be able to convince all the banking establishment that they've spent so long trying to win over to accept a feature which makes them redundant?

It's just not going to happen, IMO.

Power is never willingly divested.  The only question is this......once crypto replaces the current financial system, will the masses become knowledgeable and outraged enough to spurn what, in Ripple's case, is shaping up to be an extension of the existing monopoly?

Bingo...this is exactly my point. 

Even the argument of being decentralized like the internet...It really isn't "decentralized" if ISP's are controlled by corrupt institutions that let some huge players get away with the most egregious acts of criminality and unconstitutionality while using their "legitimacy" to heave the weight of the "law" on the little players who act in the best interests of the little guy.  These Gateways all represent a centralization of control over a decentralized framework (decentralized in terms of redundancy and resilience to attack). 

It doesn't matter what I think though.  Banking cartels have stolen so much money from the people they could artificially pump Ripple to be Trillions of Dollars in marketcap, and greed is a powerful incentive even if it only profits people in the short term with potentially catastrophic long term repercussions with respect to freedom and liberty.

[mf-tzo]

What I really would like to know if in the future every single bank in the world adopts ripple protocol and replace the existing swift payment system how much ripple would be worth under that scenario? $1bil $10 bil, $40 bil, $100 bil, $500 bil?

In other world what is the maximum market cap that ripple can be worth if is used as a payment protocol by all banks? I am not talking about as a reserve currency but only as payment protocol? How much swift payment system is currently worth?

[Ben Mason]

Disagree. 
Ripple really concerns me.

I think ripple labs is going to find it incredibly hard to decentralise. Say for arguments sake that XRP became a decent store of value with which you could peg fiat derivatives to like in bitshares. How on earth would they be able to convince all the banking establishment that they've spent so long trying to win over to accept a feature which makes them redundant?

It's just not going to happen, IMO.

Power is never willingly divested.  The only question is this......once crypto replaces the current financial system, will the masses become knowledgeable and outraged enough to spurn what, in Ripple's case, is shaping up to be an extension of the existing monopoly? 

[monsterer]

Disagree. 
Ripple really concerns me.

I think ripple labs is going to find it incredibly hard to decentralise. Say for arguments sake that XRP became a decent store of value with which you could peg fiat derivatives to like in bitshares. How on earth would they be able to convince all the banking establishment that they've spent so long trying to win over to accept a feature which makes them redundant?

It's just not going to happen, IMO.

[fuzzy]

In any case i predict a rise to 880-920m and then a crash to 300m in a two months timeline

I'm curious about other people's predictions...

Agreed.

Disagree. 
Ripple really concerns me. 

[vlight]

In any case i predict a rise to 880-920m and then a crash to 300m in a two months timeline

I'm curious about other people's predictions...

Agreed.

[CryptoPrometheus]

Ripple network in the future will likely converge into the same "cartel" as current Internet Autonomous Systems Cartel
(i.e. backbones that route traffic to each other "for free" while charging "downstream" ISPs and corporations for "internet connections")

If you consider Internet itself decentralized then that's your answer to whether or not Ripple will be decentralized in the long run.

Thanks for the info, alexkravets.

Do you think that it will ever be possible to have a market pegged asset exchange on Ripple, using XRP as collateral (like BTS)? Or do you think this is something that would clash with the banking services they are trying to provide?

[alexkravets]

Ripple network in the future will likely converge into the same "cartel" as current Internet Autonomous Systems Cartel
(i.e. backbones that route traffic to each other "for free" while charging "downstream" ISPs and corporations for "internet connections")

If you consider Internet itself decentralized then that's your answer to whether or not Ripple will be decentralized in the long run.

[mf-tzo]

@ alexcravets

Thank you for your insight and updates. I hope in a future cooperation between ripple and BTS

[ticklebiscuit]

I personally NEVER hold any value in any IOUs inside ripple, but rather use them for what they are meant to be used:

Cash-in & Cash-out.

Then what is the point of even attempting decentralization?  Why not just make ripple a centralized service completely?  It seems like it would be much easier.

Sir,

You confuse Ripple labs majority position in XRP the asset with control of the network or protocol.

Ripple is nether a PoW NOR a PoS ledger, it uses Ripple Consensus which is entirely different.

You or I are absolutely no less privileged from the point of Ripple consensus than Ripple labs.

At this time the DEFAULT UNL list contains RL nodes when you download the server but you can change it to whatever list of nodes you want. You are also free to lobby other nodes to add your servers.

De-facto the UNL nodes on most of the hundreds of rippled nodes out there still do contain RL nodes thereby keeping the network centralized at this time, in the long run banks will start listing each other thereby creating a de facto cartel but without a central operator and the network will become as decentralized as Internet routing is today


Sent from my iPhone using Tapatalk

The way I understand it, banks are already  "a de facto cartel but without a central operator", so unlike most other crypto projects, I guess I am having trouble understanding how Ripple will help purge the earth of these scumbags.

In any case, with the rapidly increasing display of spectacular incompetence from our financial overlords, I suspect it won't be long before people start searching for a solution that cuts all existing banking powers out of the loop completely. As this shift is all but inevitable, I won't be losing too much sleep over Ripple's growing market cap.

It wont. That is its beauty!

[CryptoPrometheus]

I personally NEVER hold any value in any IOUs inside ripple, but rather use them for what they are meant to be used:

Cash-in & Cash-out.

Then what is the point of even attempting decentralization?  Why not just make ripple a centralized service completely?  It seems like it would be much easier.

Sir,

You confuse Ripple labs majority position in XRP the asset with control of the network or protocol.

Ripple is nether a PoW NOR a PoS ledger, it uses Ripple Consensus which is entirely different.

You or I are absolutely no less privileged from the point of Ripple consensus than Ripple labs.

At this time the DEFAULT UNL list contains RL nodes when you download the server but you can change it to whatever list of nodes you want. You are also free to lobby other nodes to add your servers.

De-facto the UNL nodes on most of the hundreds of rippled nodes out there still do contain RL nodes thereby keeping the network centralized at this time, in the long run banks will start listing each other thereby creating a de facto cartel but without a central operator and the network will become as decentralized as Internet routing is today


Sent from my iPhone using Tapatalk

The way I understand it, banks are already  "a de facto cartel but without a central operator", so unlike most other crypto projects, I guess I am having trouble understanding how Ripple will help purge the earth of these scumbags.

In any case, with the rapidly increasing display of spectacular incompetence from our financial overlords, I suspect it won't be long before the great unwashed masses start searching for a solution that cuts the existing banking powers out of the loop completely. As this shift in sentiment appears to be rapidly approaching, I won't be losing too much sleep over Ripple's growing market cap.

[chryspano]

In any case i predict a rise to 880-920m and then a crash to 300m in a two months timeline

I'm curious about other people's predictions...

[ticklebiscuit]

I personally NEVER hold any value in any IOUs inside ripple, but rather use them for what they are meant to be used:

Cash-in & Cash-out.

Then what is the point of even attempting decentralization?  Why not just make ripple a centralized service completely?  It seems like it would be much easier.

Sir,

You confuse Ripple labs majority position in XRP the asset with control of the network or protocol.

Ripple is nether a PoW NOR a PoS ledger, it uses Ripple Consensus which is entirely different.

You or I are absolutely no less privileged from the point of Ripple consensus than Ripple labs.

At this time the DEFAULT UNL list contains RL nodes when you download the server but you can change it to whatever list of nodes you want. You are also free to lobby other nodes to add your servers.

De-facto the UNL nodes on most of the hundreds of rippled nodes out there still do contain RL nodes thereby keeping the network centralized at this time, in the long run banks will start listing each other thereby creating a de facto cartel but without a central operator and the network will become as decentralized as Internet routing is today

Cartel 2.0.
Shite.

Sent from my iPhone using Tapatalk