I am unsure actually where to discuss Ripple. Every time I try to start a discussion here, it gets flooded by "gtfo shill" posters, if you try to discuss Ripple, not XRP you still get moved to Altcoin-hell and I seriously dislike XRPTalk...

On the other hand this makes Ripple even more "obscure", people think they know more about Ethereum or Open Transactions than a decentralized exchange that runs for nearly 2 years now. Maybe stackexchange might work?

Ya man, let's have a "discussion" about Ripple with an employee of Ripple Labs.

Ripple is obviously positioning itself to be bought out by a BANK...
And that will finally close the circle of deceit and betrayal:

(1) Under false pretenses bootstrap a corporation on top of the Bitcoin community.

(2) Lie about everything for 2 years.

(3) Sell out to a bank... the mortal enemies of the Bitcoin community.


"See the little faggot with the earring and the makeup...
That little faggot got his own jet airplane...
That little faggot he's a millionaire.

That ain't workin' that's the way you do it...
Money for nothin' and chicks for free."

Thanks - I'll check it out. Anything to say on 50%/25% 'premine'?

I saw a claim on one thread that Ripple is now open source. I also saw a claim on the same thread that OpenWhateverTheirNameIs has reduced their XRP holdings from 50% to 25%.

I don't know whether to believe either claim.

Anyone? Where's JoelKatz when you need him? (I'd trust your reply, JoelKatz)

Heh, this statement shows I shouldn't waste my time on u.

Ah, I got where ur logic failed.

U think that distributed == decentralized. Think again.

Fiat centralized. Paypal centralized. Ripple centralized. Do I get the word "centralized" correctly enough?

The answer contains just 3 words:

Ripple. Is. Centralized.

As I've tried very hard to explain, it was mandated by technical reasons. We honestly didn't know any other way to do it. And, to this day, nobody has suggested any. I've explained why Bitcoins don't work, why proof of work doesn't work, why CAPTCHAs don't work, why some mechanism is needed, and why using XRP does work. Please, tell us what the alternative is. It must not require any central authorities once initial distribution is completed. And ideally, it would also be a way that makes it possible for us to make the system free to as many people as possible for as long as possible.

Geez, now I feel like I have to come up with a clever reply, but I'm too tired. Can you just imagine I said something really clever here?

Yeah, but it's in Alpha.

Hi,

I believe I have made my 5 posts by now..  I'm only just over 2 hours logged in and don't have time to continuously browse the forums a lot. I want to post a question regarding bitcoin taxes. I live in the US, and am wondering if I use BTC in my business, should I re-evaluate the value of the BTC in my inventory at the end of the tax period, or do I wait until I convert it to cash. (If I am using accrual basis). I think it would be more appropriate to ask in the legal forum than in here.

Thanks.

what is the 4 hours then??? i thought that was it... sigh

Or you have to trust the system itself, so you can't use any system. Even if it's just the hardware and software involved, you can't inspect every CPU gate and line of source code. And you trust the infrastructure to be there for you.

I prefer to use a risk-based approach to trust: Only trust something as much as you have to, and if the disparity between risk and required trust becomes too great, use various strategies to mitigate or reduce the risk. (For example, escrow, audits, security guards, two separate keys, etc.)
Well now you know how the thread starter feels. He sees the current incarnation of BTC as centralized on the hands of a few people, and with no compulsion to reward them for being "reticuled by family, fired from their jobs and alienated by friends for constantly talking about Bitcoins and posting Youtube videos." as Luno put it.

Unfortunately, we're not willing to release details before the fact because of the risk that people will game the system. Here is what I can tell you:

The plan is to give away 50 billion of the 100 billion ripples. The rate at which they're given away will be determined by how quickly we can actually give them away and how quickly we believe we can scale the network and maintain its reliability.

Now, speaking officially for OpenCoin: We are committed to being transparent after the fact. We are committed to giving away 50 billion XRP. For each give away, such as the current Bitcoin Forum giveaway, we will publicly disclose at least how many people participated in the giveaway and how many XRP were given away.

Because the restaurant will be heavily punished by the government otherwise.
See the war on gold/silver coins: http://abcnews.go.com/Business/gold-coin-dealers-decry-tax-law/story?id=11211611