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Topic
Board Beginners & Help
Re: Selling Ripples at Bitmit!
by
bitchess
on 27/04/2013, 02:07:39 UTC

There was a time when the vast majority of mined Bitcoins were own by those who had been given early access.

Do you have any link or evidence that somebody was given early access to BTCs?  The way BTC works is you get a reward for each block that's mined.  This is built into the BTC protocol. 

Ripples were created by your Company saying, ok, we start with this number of Ripples.  There is nothing in your protocol that forces you to not change your number.  And also the number by which you destroy Ripples for each transaction.  You have no built in trust whatsoever.  Please correct me if I'm wrong because I would love to hear your counterargument.


Satoshi could have kept Bitcoin closed. He could have sold mining contracts. He could have kept the code secret. But he didn't. And because he didn't, his Bitcoins are worth more today than they ever would have been under a closed model. We may be selfish, but we're definitely not stupid.

Are you trying to undermine my trust in myself and my own computer?  Satoshi did not sell mining contracts because he wanted his idea for a virtual currency to succeed.  It is succeeding because it is just an idea & system that depends on its users including me and you.  it's not logical for me to not trust myself.

It is logical for me to not trust your company.