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I saw this and just had to share it with you guys. I don't know if this guy ate lead paint chips as a child, but this is the funniest criticism of btc I've seen yet.
http://youtu.be/6qSj24_E_lU
http://youtu.be/6qSj24_E_lU
I've seen a few sites that offer mining contracts. Generally you pay so much for 1gh for one year with payments made weekly to your specified wallet. I like the idea but are there any reliable mining farms out there to do business with?
This is what I get after starting up Macminer:
5s: 1.04 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s:949.7 avg:818.0 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:894.5 avg:818.0 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:968.7 avg:818.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:879.6 avg:818.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:852.0 avg:818.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:814.7 avg:818.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:818.4 avg:818.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:813.5 avg:818.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:818.1 avg:818.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:790.1 avg:818.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:01:34] Stratum from pool 0 requested work update
[2013-11-15 20:01:34] Stratum from pool 0 requested work update
5s:722.4 avg:817.5 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:709.5 avg:817.1 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:662.0 avg:816.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:632.6 avg:815.7 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:613.7 avg:814.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:605.2 avg:814.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:602.6 avg:813.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:599.9 avg:812.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:586.8 avg:812.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:02:21] Stratum from pool 0 requested work update
[2013-11-15 20:02:21] Stratum from pool 0 requested work update
5s: 1.29 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s: 1.02 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s:876.8 avg:815.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:762.6 avg:815.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:706.1 avg:814.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:669.8 avg:814.1 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:641.7 avg:813.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:635.3 avg:812.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:620.3 avg:812.3 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:623.8 avg:811.7 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:632.6 avg:811.3 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:03:20] Stratum from pool 0 requested work update
[2013-11-15 20:03:20] Stratum from pool 0 requested work update
5s: 1.43 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s: 1.30 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s: 1.10 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:03:37] Stratum from pool 0 requested work update
[2013-11-15 20:03:37] Stratum from pool 0 requested work update
5s:962.2 avg:817.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:830.9 avg:817.1 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:918.9 avg:817.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:879.1 avg:817.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:873.0 avg:817.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:834.2 avg:817.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:846.2 avg:817.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:04:13] Stratum from pool 0 requested work update
[2013-11-15 20:04:13] Stratum from pool 0 requested work update
5s:784.8 avg:817.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:716.8 avg:817.0 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:670.4 avg:816.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:642.8 avg:815.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:631.9 avg:815.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:592.5 avg:814.5 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:608.2 avg:813.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:04:48] Stratum from pool 0 requested work update
5s: 1.06 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:04:55] Stratum from pool 0 requested work update
5s: 1.04 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s:949.7 avg:818.0 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:894.5 avg:818.0 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:968.7 avg:818.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:879.6 avg:818.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:852.0 avg:818.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:814.7 avg:818.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:818.4 avg:818.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:813.5 avg:818.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:818.1 avg:818.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:790.1 avg:818.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:01:34] Stratum from pool 0 requested work update
[2013-11-15 20:01:34] Stratum from pool 0 requested work update
5s:722.4 avg:817.5 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:709.5 avg:817.1 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:662.0 avg:816.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:632.6 avg:815.7 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:613.7 avg:814.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:605.2 avg:814.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:602.6 avg:813.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:599.9 avg:812.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:586.8 avg:812.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:02:21] Stratum from pool 0 requested work update
[2013-11-15 20:02:21] Stratum from pool 0 requested work update
5s: 1.29 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s: 1.02 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s:876.8 avg:815.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:762.6 avg:815.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:706.1 avg:814.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:669.8 avg:814.1 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:641.7 avg:813.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:635.3 avg:812.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:620.3 avg:812.3 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:623.8 avg:811.7 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:632.6 avg:811.3 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:03:20] Stratum from pool 0 requested work update
[2013-11-15 20:03:20] Stratum from pool 0 requested work update
5s: 1.43 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s: 1.30 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
5s: 1.10 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:03:37] Stratum from pool 0 requested work update
[2013-11-15 20:03:37] Stratum from pool 0 requested work update
5s:962.2 avg:817.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:830.9 avg:817.1 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:918.9 avg:817.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:879.1 avg:817.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:873.0 avg:817.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:834.2 avg:817.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:846.2 avg:817.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:04:13] Stratum from pool 0 requested work update
[2013-11-15 20:04:13] Stratum from pool 0 requested work update
5s:784.8 avg:817.6 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:716.8 avg:817.0 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:670.4 avg:816.4 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:642.8 avg:815.8 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:631.9 avg:815.2 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:592.5 avg:814.5 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
5s:608.2 avg:813.9 u: 0.0 kh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:04:48] Stratum from pool 0 requested work update
5s: 1.06 avg: 0.82 u: 0.00 Mh/s | A:0 R:0+0(none) HW:0/none
[2013-11-15 20:04:55] Stratum from pool 0 requested work update
I have been trying for days to set up any kind of bitcoin miner on my mac. I tried rpc miner, followed all the instructions, entered bitcoin.mining.cz for url. 8332 for port account.worker for user and my workers password and only get an error mssg.
I've tried setting up other clients, but I'm not good at dealing with terminal stuff and cant get anything to work. This is more for my education and future mining. Im not concerned with speed or hash rate, I just want to get a client running. Can someone give me a macmining for dummies walk through on how to get a client running. I'm looking for a cpu miner for now. I know it's slow and not very profitable, but that's what I want to do.
On top of everything else, I downloaded Bt-q wallet. It took over a day to catch up, then I got a database error, it took another day to fix it and then got another database error. And on top of everything else I had bitcoins on input.io and lost some of that. TF sent me 1.3 of the 2 btc balance I had. Anyway my bitcoin experience has not been a happy one and I'd appreciate any help. Thanks
I've tried setting up other clients, but I'm not good at dealing with terminal stuff and cant get anything to work. This is more for my education and future mining. Im not concerned with speed or hash rate, I just want to get a client running. Can someone give me a macmining for dummies walk through on how to get a client running. I'm looking for a cpu miner for now. I know it's slow and not very profitable, but that's what I want to do.
On top of everything else, I downloaded Bt-q wallet. It took over a day to catch up, then I got a database error, it took another day to fix it and then got another database error. And on top of everything else I had bitcoins on input.io and lost some of that. TF sent me 1.3 of the 2 btc balance I had. Anyway my bitcoin experience has not been a happy one and I'd appreciate any help. Thanks
Maybe these have already been addressed, but here they are.
1) Early adopters may have stashes of millions of bitcoin. If widely adopted a few super rich could have a huge influence over the whole bitcoin economy. Imagine owning 5% of all USD in circulation(with no fed to inflate).
2) The supply is fixed at 21 million, but bitcoins themselves are not permanent. People die all the time without wills. People die with btc on a computer/flashdrive that no one knows about, they're gone. People don't make backups, their computer crashes, they're gone. You might think this is great, because now your btc are more valuable. But for a currency, it's not such a good thing, to have the supply eroding over time. Theoreticly, the amount of btc could eventually go to zero.
3) Speed of transactions. If btc becomes very widely adopted, can it handle billions of transactions a day without speed becoming an issue?
Don't get me wrong. I love bitcoin and the whole concept behind it. These are just questions of someone looking to learn more.
1) Early adopters may have stashes of millions of bitcoin. If widely adopted a few super rich could have a huge influence over the whole bitcoin economy. Imagine owning 5% of all USD in circulation(with no fed to inflate).
2) The supply is fixed at 21 million, but bitcoins themselves are not permanent. People die all the time without wills. People die with btc on a computer/flashdrive that no one knows about, they're gone. People don't make backups, their computer crashes, they're gone. You might think this is great, because now your btc are more valuable. But for a currency, it's not such a good thing, to have the supply eroding over time. Theoreticly, the amount of btc could eventually go to zero.
3) Speed of transactions. If btc becomes very widely adopted, can it handle billions of transactions a day without speed becoming an issue?
Don't get me wrong. I love bitcoin and the whole concept behind it. These are just questions of someone looking to learn more.
Re: CoinLenders :: Get bitcoin loans, and earn interest on your deposits!
This has being fixed 
Works fine for me now. Thx TF. You are always quick to fix things/and or improve the site.
MNW's promise was that he will give 100% ROI if pirate defaults. When pirate officially defaulted, he has broken his promise.
Compare to a bunch of tokens / IOUs which has zero terms. No contract unlike MNW, end of story. If I said that I would redeem those for actual BTC, and did not specify a time, then it would have to be a reasonable amount of time.
Compare to a bunch of tokens / IOUs which has zero terms. No contract unlike MNW, end of story. If I said that I would redeem those for actual BTC, and did not specify a time, then it would have to be a reasonable amount of time.
Exactly why I asked Theymos "If I had made the bet with Ripple IOUs instead, would I still have gotten the scammer tag?". It's a legitimate question that he needs to answer. Apparently scamming expected value, cheating, tricking, promising without delivering, whatever you want to call it-- is fine so long as it utilizes the Ripple system.
I assume if you'd promised to settle in ripple IOUs (without specifying any settlement date for those IOUs) then you could have just issued ripple IOUs and then forgotten about them.
An IOU without settlement terms is worthless.
What you did was make a bet - where established practice is immediate settlemenet in cash as soon as the outcome is determined. There's no equivalent default settlement terms for IOUs.
Bets need to be settled in cash on demand (unless agreed otherwise). IOUs don't.
That's the difference - and why you got tagged but TF didn't/shouldn't. If anyone should get tagged for this it's the ripple developers for promoting a system which automatically treats even explicitly worthless debt as having the same value as payable-on-demand debt. Sounds like they intend to fix this - but it's hardly a new issue or one which they were unaware of.
And people handing out ripple trust for no reason is hardly new either - as soon as ripple was launched there were threads where bunches of idiots handed out trust at random to one another.
This is exactly what's wrong with their system. And new users that don't know any better are liable to trust people without having any idea of possible consequences. I would never use ripple to trade.
Re: CoinLenders :: Get bitcoin loans, and earn interest on your deposits!
When dealing with investments, Warren Buffet loves to see a company with cheap furniture and other inexpensive infrastructure. If you go into a CEO's office and he has what looks like a million dollar office, you know the company is not good at keeping costs down, or at least that the top brass dont mind wasting money on themselves.
Quick question for TF. Are CDs also compounded daily or is it 1 lumpsum with no compounding at the end of the term.
Quick question for TF. Are CDs also compounded daily or is it 1 lumpsum with no compounding at the end of the term.
Re: CoinLenders :: Get bitcoin loans, and earn interest on your deposits!
No, interest is not paid from new deposits. When you withdraw the coins may have came from someone who deposited - coins are coins, but we don't operate a ponzi scheme.
Like I already said, we do quite a few very short term (week or two) loans where it's 62% APR (assuming full usage).
I do invest in ASICMINER, but that's not everything. The current situation is that even if I lose an amount of BTC or assets equal to our current liability, I can still pay everyone back. The question comes down to trust, and you need to make your own judgment on that
Like I already said, we do quite a few very short term (week or two) loans where it's 62% APR (assuming full usage).
I do invest in ASICMINER, but that's not everything. The current situation is that even if I lose an amount of BTC or assets equal to our current liability, I can still pay everyone back. The question comes down to trust, and you need to make your own judgment on that
It seems to me that everything is relative. If the going rate of btc loans are very high, then deposit interest can also be high. Also if 25% is unsustainable in the future interst on deposits can also drop. But as stated above, the bottom line is trust. And even if TF is totally honest, that doesn't make the service risk free. I'm a new user and so far just enjoying watching my tiny stash grow. If I lost it all, I'd not be happy, but it wouldn't dramaticly affect me either. Deposit at your comfort level.
Re: Can someone please explain to me what ripple is and why I should care about it?
The thing I love about ripple is the more you know about it, the more repulsive it becomes. More people understanding it for what it is and all the flaws in its system, the faster its demise.
Re: Can someone please explain to me what ripple is and why I should care about it?
This is what ripple is in my opinion. It is a company (Open Coin), backed by venture capitalists and rich silicon valley types. They looked at bitcoin and asked,"What's the best way for us to profit from it?"
Their solution was to make an alternate system which they would control. They also decided to create 100 billion xrp, of which their company would hold 50 billion or half.
Ripple is nothing more than some rich people trying to hijack the crypto-currency movement for their own profit. It is completely antithetical to the whole idea behind cryptocurrencies, which is wrenching control of OUR money from central banks and banksters. Ripple just replaces central banks with Open Coin. The whole thing stinks and their system sucks. You wanna place yourself back under a centralized system under somebody else's control then use (c)ripple.
Their solution was to make an alternate system which they would control. They also decided to create 100 billion xrp, of which their company would hold 50 billion or half.
Ripple is nothing more than some rich people trying to hijack the crypto-currency movement for their own profit. It is completely antithetical to the whole idea behind cryptocurrencies, which is wrenching control of OUR money from central banks and banksters. Ripple just replaces central banks with Open Coin. The whole thing stinks and their system sucks. You wanna place yourself back under a centralized system under somebody else's control then use (c)ripple.
Oh this thread is great in showing that side of ripple which most people don't understand and are not even aware of. The way the system works basically looks like a three-click scam creator for script kiddies.
I am waiting for the first ripple gateway-gate. There will be someone who'll create a gateway and bunch of fake ripple users trading on this gateway like crazy, providing lower spreads and much greater liquidity than Bitstamp's gateway users. Plus some marketing efforts to gain the traction. Most of actively trading ripple users will trust that gateway to be able to trade on it with its users, then one day they'll suck all available BTC.Bitstamp and USD.Bistamp and *.OtherLegitimateGateways replacing them with equally trusted BTC.Theirs and USD.Theirs, then withdraw to Bitstamp/other gateways real systems, exchange any USD into BTC and send the real BTC away, then close the shop and laugh.
This is what I learnt about ripple because of this thread so thank you both webr3 and TradeFortress for your contribution in the overall awareness of how ripple works.
Totally on the side: ripple web interface is rubbish. I played with ripple for the first time yesterday, and the interface is totally unreliable. You create a trade order, two seconds later see a confirmation that it has been created and even see it in the order book. You cancel the order to create a different one. You see all confirmations, you see order book showing your orders as you'd expect. You do that creating/canceling couple of times. Then you close the client and open it again and you see that your client was totally out of sync with what really happens on the backend. There were some orders that you cancelled and saw cancelled which actually are still open. There were some orders that you created and saw in the order book which actually aren't there (and weren't executed). I've been using a semi-reliable cellular connection yesterday so maybe it doesn't affect most users in their everyday usage, but the fact that it happens on unreliable connections shows that the software is very broken and if it's rubbish in the web client, you should expect it to be rubbish elsewhere as well.
Considering that ripple idea has some serious no-nos (just screaming to use it as three-click scam creator; founders holding tons of XRP; lot of things happening behind closed doors with no transparency) and their software is rubbish, I think it settles my opinion on ripple.
Regarding scam accusations, I'm too new here to throw rocks so I have nothing to say here. Forgive me off-topic post but I found this thread great in providing warnings on how ripple works and how it can be used to replace real currency with worthless IOUs in clueless users wallets. The whole situation deserves to be described objectively and sticked in the altcoins board to warn people on what might happen when they use systems they don't understand.
I am waiting for the first ripple gateway-gate. There will be someone who'll create a gateway and bunch of fake ripple users trading on this gateway like crazy, providing lower spreads and much greater liquidity than Bitstamp's gateway users. Plus some marketing efforts to gain the traction. Most of actively trading ripple users will trust that gateway to be able to trade on it with its users, then one day they'll suck all available BTC.Bitstamp and USD.Bistamp and *.OtherLegitimateGateways replacing them with equally trusted BTC.Theirs and USD.Theirs, then withdraw to Bitstamp/other gateways real systems, exchange any USD into BTC and send the real BTC away, then close the shop and laugh.
This is what I learnt about ripple because of this thread so thank you both webr3 and TradeFortress for your contribution in the overall awareness of how ripple works.
Totally on the side: ripple web interface is rubbish. I played with ripple for the first time yesterday, and the interface is totally unreliable. You create a trade order, two seconds later see a confirmation that it has been created and even see it in the order book. You cancel the order to create a different one. You see all confirmations, you see order book showing your orders as you'd expect. You do that creating/canceling couple of times. Then you close the client and open it again and you see that your client was totally out of sync with what really happens on the backend. There were some orders that you cancelled and saw cancelled which actually are still open. There were some orders that you created and saw in the order book which actually aren't there (and weren't executed). I've been using a semi-reliable cellular connection yesterday so maybe it doesn't affect most users in their everyday usage, but the fact that it happens on unreliable connections shows that the software is very broken and if it's rubbish in the web client, you should expect it to be rubbish elsewhere as well.
Considering that ripple idea has some serious no-nos (just screaming to use it as three-click scam creator; founders holding tons of XRP; lot of things happening behind closed doors with no transparency) and their software is rubbish, I think it settles my opinion on ripple.
Regarding scam accusations, I'm too new here to throw rocks so I have nothing to say here. Forgive me off-topic post but I found this thread great in providing warnings on how ripple works and how it can be used to replace real currency with worthless IOUs in clueless users wallets. The whole situation deserves to be described objectively and sticked in the altcoins board to warn people on what might happen when they use systems they don't understand.
I didn't know much about ripple till all this started. I did just a bit of research. To me the whole stinking thing is an attempt to hijack the whole cryptocurrency gravy train and put it under the control of some venture capitalists and silicon valley types. They are going to issue 100 billion xrp of which OpenCoin will hold 50 billion. In other words, they have the money to really try and promote this and if it's successful, they will own half the supply. The whole thing is completely antithetical to the whole cryptocurrency movement, which is a decentralized currency under nobody's control. And then on top of it all, as TF demonstrated the system sucks. Don't drink the ripple koolaid, unless you wanna replace the Fed or other central banks with Open Coin.
Re: TradeFortress VERY untrustworthy, owes me 10.15 BTC, possibly others.
You Trust, You learn. It goes both ways. The trick is to trust others with as much as you're willing to pay to learn that they aren't trustworthy. When you get that right, you always win when dealing with others, whether they're trustworthy or not.
Exactly, I trusted TradeFortress, he proved himself very untrustworthy. He owes me 10.15 BTC.
That is the title of this thread, and the point here.
I am really sorry you lost your money. But didn't TF offer to send you the money to a btc address? And did he not warn you that if he just sent the btc stamps back, someone else might use his IOUs to trade them for your stamps? I dont mean to be harsh or cold. I'm very sad it happened, but TF showed you how it could happen but you refused the btc deposit to a secure wallet. Instead you wanted your stamps on ripple with all the risk that entailed.
It costs me money
Do you have a US Embassy close by?
I pay about the same if not more than I'd get in BTC
This is quite a shortsighted view, especially if you believe in bitcoin and its potential.
US law firm/"lawyer"
I have explained how Quentin works with the Fleites Law Firm. There is no need to go into this again.
If I get reimbursed for the costs that I have to bear to have YOU continue legally what you are doing and if I get better information where my personal information ends up, that might change.
I have spent close to $20k to make sure we ALL can continue.
I'm not involved in this, but really feel badly for all involved. I would just say to contract holders, what would you do if you were in giga's shoes? He had no way to anticipate the exchange would close and seems to be doing everything possible to make things right. The real jerks are the ones who closed the exchange suddenly, leaving issuers and holders of securities to try and sort things out.
Yes,i am. I dont have many btc, but what I have is on deposit there. If I'm wrong about TF it would be a drag, but wouldn't be life changing. He seems to be able to generate the funds to cover the interest payments.