On: Tomorrow's Apps Will Come From the Bitcoin Protoco...

[Negitivefrags]

It's a shame, then, that ripple is a complete scam created by people who created a currency and then gave themselves all the coins in it.

[philrapo → Negitivefrags]

Ripple allows you to move USD, BTC, or any currency using distributed ledger system. You dont need to use "the coins" created by Ripple.

As a separate point -- by your logic, bitcoin is a complete scam created by Satoshi Nakamoto who created a currency then gave himself $400mm worth of it. [1]

And Google is a complete scam created by Larry and Sergei, who created equity and gave themselves all of it.

[1] http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto....

[pseut → Negitivefrags]

I don't know anything about ripple, but that's true of everything ever made. He'll, I've made my own currency and have all the coins. Trading them for real stuff is kind of hard, though.

[sroerick → Negitivefrags]

They also put billions of dollars of venture capital into it. Ripple wouldn't be worth what it is today without that.

[svenkatesh → sroerick]

Wow, I had no idea that billions of dollars were fed into ripple.

Do you have any links that delve into more details (such as who was behind the funding rounds)?

[sroerick → svenkatesh]

I was in error, I repeated this without confirming and looking at "market cap" pages led me to believe it was true.

[mulligan → svenkatesh]

He meant to say billions of ripple coins, surely.

[svenkatesh → mulligan]

That makes even less sense; they invested billions of ripple in venture capital into making... ripple?

This investment of billions of ripple gave value to... ripple?

[mulligan → svenkatesh]

sarcasm on my part ;)