Quote from: Alex Zee on May 06, 2013, 11:23:44 AM

Quote from: oakpacific on May 06, 2013, 11:18:50 AM

The problem is will there ever be one day the system works well

Well, unless somebody has a crystal ball, nobody knows. We can speculate, but what will actually happen can only be know once it actually happens

Quote from: oakpacific on May 06, 2013, 11:18:50 AM

Exactly what I meant, banks/clearing houses suck, that's why Bitcoin was created. And you want to reinvent the wheel by replicating what the banking system has done, good luck with that.

You are like a teenage girl at the Occupy Wall Street - shaking here iPhone in anger and shouting how corporations suck.

Do you have any idea how much your life is better because of banks? And to just dismiss them as "banks suck"? What kind of naive "argument" is that?

You're nit-picking my words out of context, read what I wrote again. The essence is the banking system at least sucks in some aspects, otherwise Bitcoin would not have been attractive, it has to do certain things many times better to mitigate the sunk costs. Unlike Ripple, which basically tries to go to the bank's home court and play by their rules and hope to win, hmmm....

EDIT: Oh, I forgot, there is one difference between the Ripple and the banking network-your Ripple transaction "contract" is not legally enforceable.