Post
Topic
Board Service Discussion
Re: Why Ripple™ is against everything Bitcoin
by
Zangelbert Bingledack
on 11/05/2013, 07:08:00 UTC
XRP is premined for a reason. Bitcoin is fatalally flawed in that mining and verifying the block chain wastes resources.

Roll Eyes
 
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If mining ever became unprofitable it would taper off, leaving an opening for a third party to attempt a 51% takeover, double-spending into exchanges, buying BTC back, repeating the process, and gaining control of BTC at an exponential rate.

Roll Eyes Roll Eyes Roll Eyes

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Even if mining stayed profitable, the resources diverted to it would far exceed the value created by the protocol.

You seem rather ignorant of both Bitcoin and economics.


This is the best arguments Ripple got for their lame-ass premine?