Quote from: TradeFortress on April 19, 2013, 04:38:08 AM

Quote from: freedomno1 on April 19, 2013, 04:25:56 AM

Quote from: ipxtreme on April 19, 2013, 04:18:10 AM

.13

Same dev team that made edonkey and mtgox quite interesting fellows i'm subscribed for the livefeed

https://ripple.com/blog/

Try reading the link in my sig.

That said I will check upon one precedent on your scam url
Regarding the Liberty coins and dollars
Well that was a scam since it was based on the American dollar directly
http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency
However with ripples not sure if its really a precedent of own mintage regarding the Federal Reserve Definition of MSB's which states
http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html
A user who obtains convertible virtual currency and uses it to purchase real or virtual goods or services is not an MSB under FinCEN's regulations.8 Such activity, in and of itself, does not fit within the definition of "money transmission services" and therefore is not subject to FinCEN's registration, reporting, and recordkeeping regulations for MSBs.9
However the Ripple foundation would be a MSB
An administrator or exchanger that (1) accepts and transmits a convertible virtual currency or (2) buys or sells convertible virtual currency for any reason is a money transmitter under FinCEN's regulations, unless a limitation to or exemption from the definition applies to the person.10 FinCEN's regulations define the term "money transmitter" as a person that provides money transmission services, or any other person engaged in the transfer of funds. The term "money transmission services" means "the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means."11

That said the article has specific rules related to Centralized Virtual Currencies and Decentralized Virtual Currencies which require reading on to explain well

That said I agree an raid might break it need to look into the data more and your points are very valid
http://www.businessinsider.com/even-if-it-crashes-bitcoin-may-make-a-dent-in-the-financial-world-2013-4
Looks like a cash model so will hold judgement but take your words as a caution nonetheless and keep watching
That said according to business insider they keep 25% not 50% can you clarify your source
OpenCoin is expected to start handing out Ripples to the public in May. It has created 100 billion, a number it promises never to increase. To give the new currency momentum, OpenCoin plans eventually to give away 75% of the supply. Anyone opening an OpenCoin account will receive five Ripples; existing Bitcoin users will get more.
The 25% retained by OpenCoin will give it a huge incentive to make sure that the Ripple is strong: the higher its value, the bigger the reward for OpenCoins investors when the firm cashes out. On April 10th several blue-chip venture-capital firms, including the ultra-hip Andreessen Horowitz, announced that they had invested in OpenCoin.

Read more: http://www.businessinsider.com/even-if-it-crashes-bitcoin-may-make-a-dent-in-the-financial-world-2013-4#ixzz2QsrQLU4x

Thanks for the info though