Re: The difference between Ripple and Bitcoin

Quote from: Sukrim on March 12, 2014, 12:40:51 AM

To back this up with some facts:
https://blockchain.info/charts/estimated-transaction-volume?daysAverageString=30 <-- 30 day transaction volume on the block chain.
http://bitcoincharts.com/markets/ <-- there are 4(!) different active closed source centralized purely trust based exchanges that have several times that volume alone, not counting others and not counting the volume that comes from sending money to and from these exchanges. Also not counting brokers like Coinbase or BitPay.

Exactly, maybe up to 20% of bitcoins (probably far less - I hope) are on a "trusted" exchange\online wallet. We trust them only up to what we are willing to lose. Otherwise, these coins are on USB drives, printed wallets, whatever. I only use a trusted exchange when I have to - conversions, purchases, etc. Else, cold storage is the way to go.