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Nice try Phil. Please get your Ripple propaganda off of HN. Ripple currency, XRP, is magicked up by Ripple Corp which owns nearly all of it and is the purest fo

Nice try Phil. Please get your Ripple propaganda off of HN. Ripple currency, XRP, is magicked up by Ripple Corp which owns nearly all of it and is the purest form of a pyramid scheme.

knowaveragejoe 13y ago
Just to play devil's advocate here, is there any proof to that claim?
- jplewicke 13y ago
  I don't have a dog in this fight, but Ripple Labs did set things up so they would start off with all the network currency, and still own the majority of it: http://en.wikipedia.org/wiki/Ripple_(payment_protocol)#XRP http://en.wikipedia.org/wiki/Ripple_(payment_protocol)#XRP .
  - philrapo 13y ago
    That's correct. From Ripplelabs.com: "Because Ripple’s new architecture does not require mining [to reach consensus], the creators of Ripple faced a choice: exclusively distribute XRP via mining or diversify distribution methods to include useful mining, business development, funding third-party developers, and hiring talent at Ripple Labs, the company responsible for improving upon and promoting the Ripple protocol." XRP is currently distributed via the "Computing for Good" program: "We’re giving away XRP in exchange for donating computing power to scientific research via World Community Grid. Anyone with an Internet-connected computer or Android device can participate." link: https://www.computingforgood.org/ https://www.computingforgood.org/
philrapo 13y ago
My post is not advocating that anyone invest money in XRP. My comment is about the Bitcoin protocol vs. the Ripple protocol's methods of reaching consensus. The primary purpose of mining is to allow Bitcoin nodes to reach consensus about the blockchain. It is intentionally resource intensive. It takes 8-10 minutes. And it is subject to a 51% attack. I believe that the Ripple protocol's method for reaching consensus is superior to Bitcoin's. It is orders of magnitude faster (2-5 seconds vs. 8-10 minutes). It is not subject to the 51% attack. It is not computationally expensive or resource intensive. It seems like a better design to me. Ripple protocol =! XRP. If you don't like XRP, then don't buy it. Easy solution. Ripple is still valuable as a protocol, since it's currency agnostic. @Goldenkey - While we're making demands of each other, please take your logic-free and malinformed vitriol off HN.

Nice try Phil. Please get your Ripple propaganda off of HN. Ripple currency, XRP, is magicked up by Ripple Corp which owns nearly all of it and is the purest form of a pyramid scheme.

knowaveragejoe 13y ago

Just to play devil's advocate here, is there any proof to that claim?

jplewicke 13y ago
I don't have a dog in this fight, but Ripple Labs did set things up so they would start off with all the network currency, and still own the majority of it: http://en.wikipedia.org/wiki/Ripple_(payment_protocol)#XRP http://en.wikipedia.org/wiki/Ripple_(payment_protocol)#XRP .
- philrapo 13y ago
  That's correct. From Ripplelabs.com: "Because Ripple’s new architecture does not require mining [to reach consensus], the creators of Ripple faced a choice: exclusively distribute XRP via mining or diversify distribution methods to include useful mining, business development, funding third-party developers, and hiring talent at Ripple Labs, the company responsible for improving upon and promoting the Ripple protocol." XRP is currently distributed via the "Computing for Good" program: "We’re giving away XRP in exchange for donating computing power to scientific research via World Community Grid. Anyone with an Internet-connected computer or Android device can participate." link: https://www.computingforgood.org/ https://www.computingforgood.org/

philrapo 13y ago

My post is not advocating that anyone invest money in XRP. My comment is about the Bitcoin protocol vs. the Ripple protocol's methods of reaching consensus. The primary purpose of mining is to allow Bitcoin nodes to reach consensus about the blockchain. It is intentionally resource intensive. It takes 8-10 minutes. And it is subject to a 51% attack. I believe that the Ripple protocol's method for reaching consensus is superior to Bitcoin's. It is orders of magnitude faster (2-5 seconds vs. 8-10 minutes). It is not subject to the 51% attack. It is not computationally expensive or resource intensive. It seems like a better design to me. Ripple protocol =! XRP. If you don't like XRP, then don't buy it. Easy solution. Ripple is still valuable as a protocol, since it's currency agnostic. @Goldenkey - While we're making demands of each other, please take your logic-free and malinformed vitriol off HN.