Ripple

Discussion in 'Digital Currencies' started by Phiber, Dec 8, 2017.

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  1. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I’m placing my faith in xrp on corporate reputation and profit motive. A failure by Ripple Labs to keep faith with their investors may see capital flight or give competitors an advantage.
     
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  2. leo25

    leo25 Well-Known Member Silver Stacker

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    Though profit motive could come in two ways;
    1. keep the system and make money in fees or value of the tokens.
    2. Sell the system for a massive amount, and then the system can be taken over and be incorporated like SWIFT. This might also mean XPR become obsolete.

    Also interesting to note that SWIFT said it will also be looking to implement blockchain tech. Maybe SWIFT will buy Ripple. :)

    Here is a quote from CEO of Ripple Brad Garlinghouse back in April 2017. He is referring to SWIFT.
     
    Last edited: Jan 12, 2018
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  3. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I thought I said more than that. My main reasons were exposure to mainstream financial transactions in the crypto world ie it was a hedge if you like against other cryptocurrencies which were seeking to extricate themselves from the influence of centralised financial transactions and the traditional banking system. The ripple system was designed to work in the current financial system, it didn't have to compete against, it didn't have to replace it, or operate in the black or grey market and could still function if the State imposed restrictions on transacting with cryptocurrencies.

    The dominant mindset of the crypto world is to provide an alternative to the current fkd up banking system enabling users to opt out. Ripple's purpose is to enhance the current fkd banking system.

    I try to diversify my long term crypto holdings eg proof of stake/proof of work, distributed/centralised/decentralised, ethereum based/non-ethereum based etc. Ripple fills one of those niches for me, in the same way say ADA does as it's a new platform not based on Ethereum or Bitcoin or my old dogs DGC which is much like bitcoin (and I hold because there's no point selling them, and I'm actually quite attached to the worthless things). Truthfully I'm hoping that they skyrocket, but I've been waiting for that since 2013!! Still, there's some movement graveside lately. Lol.

    I learnt the errors of not diversifying years ago.
     
  4. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    True. But I'm banking on the negative repercussions that would have if the team from Ripple labs ever sought public funding again.
     
  5. dozerz

    dozerz Well-Known Member Silver Stacker

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    https://cointelegraph.com/news/ripple-hate-is-ripple-a-wolf-in-sheeps-clothing

     
  6. jerrygold

    jerrygold Active Member Silver Stacker

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    They will *NEVER* create more XRP. It would be suicide to do so after all the hoopla around how ripple was created.

    The smarter thing to do would be to create another currency inchain that is exactly like XRP just not XRP, that can be inflated by them when deemed necessary like central banks do. This would devalue XRP while breaking no promises they have already made.

    willrocks is right, with their centralized form they can and seem to already have blacklisted certain addresses. This is a pile of shit for anyone who cares about freedom.
     
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  7. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Last time I looked my bank account hadn’t returned me tenfold in 2 months.
     
  8. jerrygold

    jerrygold Active Member Silver Stacker

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    Your position is respectable. You realize what ripple is and make profit of it, as have others. You can be against shit like ripple yet still make profit off it.
     
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  9. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I know what you’re saying but I don’t think ripple is shit. It’s just a different product to what’s out there in crypto land.

    It just annoys all the purist geeks that ripple has come along to the party and pulled the best looking chicks, leaving them to watch the footy in the kitchen. :p

    Edit to add: value is subjective after all.
     
  10. jerrygold

    jerrygold Active Member Silver Stacker

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    Ripple is shit, ethereum tears it to bits and is open (for now).

    Any cryptocurrency that requires ID and authorization is just an extension of the fiat network and by definition shit. Has nothing to do with nerds, its just a stupid regulation that will block progress.

    I don't have anything against anyone making money with anything but if Ripple is fully locked down any profits you make with it would bring you under attention of government way before you ever cash out in fiat.
     
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  11. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    That’s exactly why I bought it and I know I'm not alone.

    That’s actually a poor argument. I’m not sure how any one would go about cashing out anyway without attracting any attention, unless maybe you’re willing to pay the high premiums of something like the LROS, over 10%!

    I hold the majority of my crypto balance in my SMSF, there is no way I can avoid the attention of the government when I cash out. Likewise, I’ll be cashing out of cryptos to invest in something else with my personal stash. There’s a thing called “unexplained wealth” you have to remember.

    The only reason crypto geeks bag ripple is because it offends their sensitivities about what they think a crypto-currency should be. Very thin skinned crypto geeks. Well hello! Welcome to the free-market, where anyone can produce a good for a set purpose according to their own guidelines and offer it for sale without having to first check with the self-appointed guardians of the crypto currency market. I can taste the irony in my Russian Caravan tea. :p:p:D
     
  12. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Good grief.

    Because there is no VisaCoin! There are a million decentralised anonymous coins (slight exaggeration) but only one coin that is designed to work in with our current fkd up banking system. That’s why I have exposure to it.
     
  13. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I’d even buy WelfareCoin! Centralised Proof of stake blockchain technology set to revolutionise the transfer of wealth from producers to looters.

    It’d be one way to recoup all my earnings stolen from me, and if it crashes and goes to zero then it’d be no different to what’s happening now, me left holding the bag.
     
    Last edited: Jan 12, 2018
  14. southerncross

    southerncross Well-Known Member Silver Stacker

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    Do you hold much other Crypto shiney ?
    As an apparent libertarian, I find it somewhat bemusing that you are supporting this particular crypto. It's not so much that I disavow your free market choice of course, just that I find it hard to believe that you of all people would pick this particular one out of all the others out there on offer.

    Bankster coin ? Check!
    Centralized ...? Check!
    Govt.com obligated.. Check!
    Totally misses the point of Crypto in the first place.... Check!
     
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  15. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I do hold others and as I can voluntarily choose to hold it or not it doesnt conflict with my libertarian views.
     
  16. southerncross

    southerncross Well-Known Member Silver Stacker

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    OH......Bullshit X's 100 shiney, I've read what seem's like a hundred years worth of you Railing against the "System" here (and liked most of it) and yet here you are taking a ride on a .Gov/Bankster/Systematic copycat that was built entirely for central control ?
    Well Paint me black and call Me a Banana.... :(
     
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  17. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Whatever you reckon.

    You obviously don’t use credit cards, have any debt or bank accounts either.

    You haven’t been paying very close attention to what I’ve posted. That’s evidenced by the number of times I’ve had to answer the same questions just in this thread alone.
     
    Last edited: Jan 12, 2018
  18. Gullintanni

    Gullintanni Well-Known Member

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    I do not see what the big deal is in the last 2 pages railing against shiney.
    Shiney seems pretty open about the fact it is not for any political or moral view they hold XRP and it is all about making a buck.
    If making a buck is the reason they hold this (as they have said) then XRP has done a bloody fine job and if they took Phiber's (prophets) advice at the beginning of this thread many many bucks will have probably been made.
    I am on the very opposite political spectrum as Shiney but i see one thing we may have in common is we both see crypto as a great money grab currently, NOT A NEW RELIGION:)
     
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  19. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Lol.
     
  20. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    SX's comments are typical of the misunderstanding non-libertarians (and opponents) have of what Libertarianism is and what it is not. They're doubly disappointing because I know he's more intelligent than his "BS x100" comment indicates.

    Libertarianism has no position on banking, it has no position on share markets, it even has no position on free-market capitalism. See that? It says nothing about free-markets because it is not an economic theory!!!

    It is a theory centred around what constitutes the appropriate use of power, namely, the non-aggression principle. Don't take my stuff, don't do bad things to other people. Don't coerce others in order to achieve your goals. That's it in a nutshell. Nothing more. Now most libertarians do have a position on what is the best way to go about achieving these outcomes in an economic system, but you have to look further than libertarianism to find these ideas. Furthermore, as an anarcho-capitalist, I'm a huge fan of privatisation - this includes the provision of private currencies. The more the merrier! There you go, something else for you to look into. :p

    Now if SX et al want to hate on XRP because it allows banks to use blockchain technology, and banks in their minds are the Evil One Reincarnate then that's fine. But then they'd also have to forgo the convenience of using ATM's, savings accounts, debit cards, BPay, Paypal, owning bank stocks, eftpos, bank transfers in and out of their favourite crypto exchange as all of these technologies operate within our banking industry. Or how about fiat? Yes cash!! :oops:. They would also have to refuse to engage in all of those banking/financial services as well in order to avoid being labelled as hypocrites. But they won't. These self-appointed guardians of the crypto world are behaving in exactly the same manner as our self-appointed guardians of the political and economic world.

    I've attempted to respond as best I can to these personal criticisms of me and requests for a rationale behind my thinking, but if they're not happy with that then so be it. In the meantime, I'll continue to engage with the banking industry as I exchange value in an attempt to enhance my wealth. Voluntarily.

    And to those XRP haters out there, in the meantime I suggest you avoid waving the "Flogging Libertarianism Card" and maybe critically examine a theory that actually does have something to say about fiat currency, banks and the centralisation of economic power - Austrian Economics. Voluntarily.

    Edit to add: who knows, after all that reading you may come across to the dark side. It's lonely over here without my only friend bordsilver lol.
     
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