SJoelKatz

4 ms·

1.
by SJoelKatz 9y ago
This was the entirely predictable result of regulations on financial institutions that have become more and more idiotic. Imagine if we had decided to fight drug dealers and terrorism by prohibiting any restaurant or grocery store from know
2.
by SJoelKatz 11y ago
I agree. It appears the Softpedia erroneously changed the term "Bitcoin developers" to "Bitcoin Core developers" and other news sites copied the error.
3.
by SJoelKatz 13y ago
Either the value of the currency will increase or it won't. If it won't increase, then Ripple Labs will have no reward. If it will increase, then early adopters who buy and hold XRP will be rewarded. Say Ripple Labs currently hold
4.
by SJoelKatz 13y ago
The concept of "premined" doesn't really apply to a scheme that has no mining. For currencies that use proof of work to solve the double spend problem, mining is a good way to reward miners for providing the useful service of
5.
by SJoelKatz 13y ago
Not so for two reasons. First, the number of IP addresses you have is irrelevant. Trust is weighted by the number of signatures made with keys that a server has chosen to trust. Second, you can't "change the consensus". Onc
6.
by SJoelKatz 13y ago
All the servers are agreeing with each other. You could just as well wait for any other reliable servers to come to a consensus amongst themselves and it would work just as well. It is true that today we control the majority of validators t
7.
by SJoelKatz 13y ago
You can have an order book between any two assets. The pathfinding engine will prefer whatever path is cheapest, assuming it's not too long for it to find. For example, the USD/Bitstamp <-> BTC/Bitstamp order book is qu
8.
by SJoelKatz 13y ago
They can't set balances to whatever they want. They have to justify each switch from ledger to ledger with signed transactions. (Just like miners in Bitcoin can choose the transactions to include in their blocks but can't just cre
9.
by SJoelKatz 13y ago
Don't confuse the Ripple payment network with ripples, its native currency. You can use the payment network to transact in currencies like dollars and Euros.
10.
by SJoelKatz 13y ago
The quote from ripplescam.org just says what we all know, we all have to agree on a blockchain (in the case of Bitcoin) or a ledger (in the case of Ripple) or the system breaks. Part of it is false though, you can connect to servers not run
11.
by SJoelKatz 13y ago
That description kind of fits both classic Ripple and the new Ripple, but it does fit classic Ripple better. The new Ripple does fully support social/community credit. But it's targeted more, at least for the near future, at actin
12.
by SJoelKatz 13y ago
Each Ripple server does validate all the data completely and cannot be tricked. Ripple uses consensus to establish transaction ordering. Ripple does have only a small number of server nodes today, but that should be growing over time. A nod