Post
Topic
Board Altcoin Discussion
Re: Ripple or Bitcoin
by
misterbigg
on 30/05/2013, 20:23:31 UTC
Q: "What's the point of Ripple?"
A: "To loan money to another person with no repayment terms, interest, or any other sort of traditional terms, including legal recourse, you would receive when extending credit.  If you accept this rather significant counter-party risk, you can move DEBT all over the world."

This is totally wrong. Ripple is not a system for keeping track of loans. Ripple debts are not the same as mortgage / loan debt. This is a common misconception!