Quote from: JoelKatz on September 26, 2013, 05:42:46 PM

Quote from: smoothie on September 26, 2013, 09:35:52 AM

In my view the whole concept of supporting debt/transactions through trust is majorly flawed.

Why create a system that is based on IOUs and trust?....."faith"?....."credit"? <--- The last two words are use by the U.S. govt when making promises they can't keep based on IOUs.

We already have that type of broken system...it's called the Federal Reserve System.

That's pretty much the only way to provide an electronic payment system for fiat currencies. Ripple is "less broken" than existing payment systems for fiat currencies because users can exchange balances with each other without needing the permission of any central authority.

Keep flogging that Silly Straw Man, baby.

In decades of banking and trading in Canada and USA well into 7 figures...
I have not lost a single penny... or lost any sleep over the security of my assets.

Meanwhile, people whose money disappears on Ripple are writing Github tickets...
And being told they had "bad passwords". What fun.

https://ripplecharts.com/markets

Looking at the stats there has been no progress since May...
It's Bitstamp and nothing else...
Your big US Gateway is doing $2,300 is business/day.

Open sourcing without achieving anything close to "critical mass"...
Seems like a desperate move to save the Network to Nowhere.