Ninjastic
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Post
Topic
Board Altcoin Discussion
Re: Why Ripple is a bad idea.
by
JoelKatz
on 08/03/2013, 16:40:44 UTC
Quote from: ultimateteam4 on March 08, 2013, 03:12:24 AM
Quote from: JoelKatz on March 08, 2013, 03:04:13 AM
Quote from: dancupid on February 24, 2013, 05:57:04 PM
The focus of many replies here is based on comparing Ripple to Bitcoin - but shouldn't we really be comparing it to Visa or Paypal?
Short term: Yes, exactly. Ripple is perfect for this.

Long term: People may use Ripple to do things completely different from what they currently do with Bitcoins and with payment systems.

what else could they use it for?
Community credit (borrowing money from strangers). Social credit (borrowing money from friends). Self-executing contracts. Holding preferred currencies as stores of value and switching to preferred currencies for exchange as needed. Providing liquidity for a profit. And who knows what else.