Post
Topic
Board Altcoin Discussion
Re: Ripple Scam: Centralized, Centrally Issued, Bribes exchanges, Closed Source
by
TradeFortress 🏕
on 01/03/2013, 01:58:01 UTC
By requiring ripple accounts to have at least 200 XRP for it to be functioning, OpenCoin Inc (who I feel is hardly open) is creating an artificial demand for the premined XRP (Ripples). This is akin to tax required in the nation's fiat currency to artificially create use cases for that currency.

Actual quote from Ripple employee:

Quote
we want to keep the servers under [..] more central control

Ripple is a trust based currency, and it will collapse. Your 5 "BTC" and 444 "USD" will vanish into thin air, and all you have left over will be the premined XRPs.