Re: Why is Ripple price going mad right now?

I think it poses a big question --- whether Bitcoin will remain due to it's advantage of being the first or will it be dethroned by others. Fact is that decentralization is the future. Everything that can be decentralized will be decentralized. Ripple is perhaps the last pathetic breath of the centralized money transmitting system that is based on debt (IOUs).

I think the advantage is the key point and bet on the advantage.

But even Bitcoin used for real transactions is of course based on IOU. Any money is and always will be. Otherwise it is not money.

Bitcoins have nothing to do with IOU's because there is no debt system inside Bitcoin plain and simple.

Also, how will the ripple network overcome foul nodes? Essentially the bigger the ripple network grows the higher is a chance that some node will be compromised or will go rogue and run away with money. the nodes could even practise some sick reserve banking. At least with bitcoin it is cool that all the nodes either follow the same protocol or become incompatible. ripple is a much more loose concept.

it's a good thing you pointed this out, i hope someone from ripple labs is lurking these forums and give us an answer.