philrapo

9 ms·

61.
by philrapo 13y ago
Ripple's consensus algorithm is a much more energy efficient process that achieves the same result, i.e. getting the network to reach consensus about a distributed database. https://ripple.com/wiki/Consensus_Graphi
62.
Current Cryptoprotocol Infrastructure(i.imgur.com)
1 points by philrapo 13y ago|0 comments
63.
by philrapo 13y ago
I love his conflicting concerns: "I am most concerned that as Bitcoin is inevitably banned in other countries, Americans will be left holding the bag on a valueless currency" Then later in the letter: "[Deflation] makes Bit
64.
by philrapo 13y ago
Isn't "Silicon Alley" more known to be Flatiron/Chelsea/midtown south in Manhattan?
65.
MIT Technology Review: 50 Smartest Companies(www2.technologyreview.com)
5 points by philrapo 13y ago|1 comments
66.
by philrapo 13y ago
I've always thought the expected value on wall street seems way better. (probability * payout) since the equity in most startups ends up being worth zero.
67.
by philrapo 13y ago
Distributed exchange architecture is an interesting alternative: https://ripple.com/blog/ripples-distributed-exchange-and-the... When there's no central location towards which orders need to race to get time stamp
68.
by philrapo 13y ago
Here's a source for that stat from a Q3'12 AMEX earnings call transcript: "As you know, our current ultimate redemption rate is 93%, a very high assumption for any consumer loyalty program." [1] http://seeking
69.
by philrapo 13y ago
Nice, looking forward to reading your thoughts. I've been thinking about this myself recently. I'd suggest using a higher estimate for the value of rewards points. (You used a 1%.) You can explicitly get >1% cash back on ma
70.
by philrapo 13y ago
Shouldn't we be asking what the savings to the consumer are? I use my credit card all the time for 2 reasons: 1) fraud protection and 2) reward points. Interchange fees paid by the merchant are essentially being passed to the consum
71.
Distributed Exchange: An answer to the HFT arms race(ripple.com)
1 points by philrapo 13y ago|0 comments
72.
by philrapo 13y ago
The alternatives are either running your own service or switching to a dropbox competitor. Even at huge companies with resources dedicated towards IT infrastructure, systems still go down with regularity. Dropbox is probably still more rel
73.
by 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
74.
by 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 ab
75.
by philrapo 13y ago
In 2011, Jed McCaleb pointed out that bitcoin mining pools can collude. So in fact, Bitcoin is based on trust ... it is based on trust that mining pools are not colluding against you. His idea was to make this trust explicit. And that&
76.
by philrapo 13y ago
correct. OP is totally incorrect.
77.
Donate computing power to science, receive XRP(computingforgood.org)
4 points by philrapo 13y ago|4 comments
78.
by philrapo 13y ago
I just sent you some XRP to get started.
79.
Ripple Primer(ripple.com)
1 points by philrapo 13y ago|3 comments
80.
by philrapo 13y ago
XRP is essential as the native currency of the protocol. All other currencies exist on Ripple in the form of balances. (Similar to how I store my money at Citibank in the form of USD balances. This is how our traditional financial system
81.
by philrapo 13y ago
There is a fixed/finite amount of XRP, just like there is a fixed amount of BTC. The Ripple protocol destroys negligibly small amounts of XRP with each transaction as an "anti-transaction SPAM" measure. It's a negligibl