This is exactly what Ripple is attempting to solve, acting as a open, global payment network where transactions are nearly free and you can use any currency (including bitcoin) you want. More at https://ripple.com/about-ripple/.
Ripple is a petty scam. Please don't advertise that horse dung to HN, we are smarter than that. Ripple generated 10 billion coins, they call them XRP. Of course this amount and even XRP aren't mentioned on that page you linked, an obvious bait. Ripple started giving away millions to generate buzz and use, they've yet to even give away 10% though, and the idea is to create enough value that they can eventually dump all their "genesis" currency and reap the rewards. They recently started giving away a few thousand a day with their ComputingForGood campaign, a pittance to create buzz for their scamware.
Mastercoin's done the same thing with no real benefits over Bitcoin itself. Seriously getting tired of these fiat fiascos. I guess creating derivative cryptocurrencies is the new version of the classic pyramid scheme.
Some people call Bitcoin a pyramid scheme because of the speculative bubble, fair enough. But these currencies, Ripple and Mastercoin, are true pyramid schemes. Founders plan to get mega-rich based on the illicit adoption of their scamware.
* there's no mining in Ripple, so Ripple isn't pre-minded and there's no "genesis" currency
* they created 100 billion XRP, not 10 billion as you wrote
* they're committed to give away 55 billion XRP to non-profits, users and business partners for the foreseeable future: https://ripple.com/ripple_primer.pdf
* Apparently you don't actually know what a pyramid scheme is or how one works, otherwise you would know that Ripple isn't one: http://en.wikipedia.org/wiki/Pyramid_scheme.
What Ripple is: a company, an approach and a currency you don't like and you clearly have an agenda to spread misinformation about it for reasons that are not clear.
I have no affiliation with Ripple Labs, other than being impressed with their approach of addressing our archaic, fragmented payment system that works almost exactly the same as it did 20 years ago. I also have received XRP in a couple of giveaways.
Don't get me wrong—I think Bitcoin is an incredible technology that changed the way we think about money, in ways we're just starting to grok.
What Ripple enables—being able to pay anyone anywhere anytime with whatever currency you wish to use for essentially for free--is the killer app right now.
* they're committed to give away 55 billion XRP to non-profits, users and business partners for the foreseeable future: https://ripple.com/ripple_primer.pdf
'Committed' Heh.
I guess Ripple is a religion, because you've got to have ulterior motives or faith in demons..
Enough said. It's a friggin' scam. Enjoy that free XRP that OpenCoin started you off with, like a baby nursing on a milk bag.
I guess Ripple is a religion, because you've got to have ulterior motives or faith in demons..
I don't have any ulterior motive or interest in demons.
Enough said. It's a friggin' scam. Enjoy that free XRP that OpenCoin started you off with, like a baby nursing on a milk bag.
It's kind of cool to get XRP a while ago and have the value of then increase quadruple in value in a short time.
If Ripple Labs is performing fraudulent activities, I would love to hear all about it; what would be even better: if you had some facts to back up your claims.
Fact: XRP is a fiat currency created by Ripple so they can profit off of when it increases in value. They control a majority share of it and can pretty much destroy/affect the value of XRP by market manipulation. It is a scam, through and through. You have stated no counter-facts to their motives and their iron-grip on XRP.
Fact: XRP is a fiat currency created by Ripple so they can profit off of when it increases in value. They control a majority share of it and can pretty much destroy/affect the value of XRP by market manipulation.
I'm sorry, I thought you wanted to discuss facts. XRP is not a fiat currency—only a government can create a fiat currency—you know, fiat currency exists because of government decree.
Yes, Ripple Labs hopes to benefit from the increase in value of XRP over time; they've been quite public about that. Unlike you, I have no problem if these guys get rich for disrupting and fixing our broken and fragmented payment system.
The flip side is that all of us with XRP stand to do pretty well too, which is also okay.
The fact that Ripple Labs holding the majority of XRP now is no different than when a company goes public and holds on to shares. Sergey Brin has over 27 million shares in Google, but nobody believes Google is a scam.
You thinking that Ripple Labs would destroy the value of XRP is conjecture and speculation. Unless you have any proof otherwise—which you don't—there's not really much more to say.
They have started publicly that they are going to give away 55 billion XRP; only a tiny fraction so far have been distributed. Again, unless you have proof otherwise, why should we listen to or believe you? You're just making shit up.
Meanwhile, the rest of us will continue to benefit from using the Ripple payment network and the increasing value of XRP.
A fiat currency is
any money declared by a government to be legal tender.[1]
state-issued money which is neither convertible by law to
any other thing, nor fixed in value in terms of any objective standard.[2]
money without intrinsic value.[3][4]
Fiat is latin for "it shall be." Ripple XRP was basically conjured up, it has no value, it has no origin except for the Ripple corp. Now keep sucking on that Ripple currency milk bag. Maybe the ponzi scheme will peel out for you and you'll be able to fund that storybook startup of yours.
main ones that come to mind: clinkle, dwolla, venmo. but the particular company doesn't matter so much as the clear market trend: fees are in a race-to-the-bottom mode right now, and within 10 years i fully expect them to be effectively 0, if not actually 0.
