Any clarifications are appreciated. I love the ripple concept I just want to make sure some billionaire doesn't come along and buy up opencoin and all the xrp, or worse the government seizes the "xrp assets".
What difference would that make though? If they're scarce, the cost of transactions and the reserve should come down by consensus. If they're plentiful, what's the issue?
The consensus process isn't XRP proof of stake, it will be purely democratic. The consensus process sets the transaction fees and reserve.