Ripple: New Bitcoin Competitor

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From what I understand crypto-currencies don't have one great source of "coins". If I understood that article correctly ripple is like the fed and essentially has control over all the money that goes into it's economy. unlike the fed it won't be able to take money out of the economy. Kind of seems like a big plan to make a ton of money by having people buy all the ripple coins with USD or whatever hoping that it will be the next big thing. I think this alone will deter people because the whole point of crypto-currencies is to have a currency not controlled by one source.

What does this even mean?
Ripple, he points out, doesn't require such centralized servers; it is completely decentralized.
Click to expand...
Are they trying to claim that they can't be DDOS'ed?
 
hackpenguin said:
From what I understand crypto-currencies don't have one great source of "coins". If I understood that article correctly ripple is like the fed and essentially has control over all the money that goes into it's economy. unlike the fed it won't be able to take money out of the economy. Kind of seems like a big plan to make a ton of money by having people buy all the ripple coins with USD or whatever hoping that it will be the next big thing. I think this alone will deter people because the whole point of crypto-currencies is to have a currency not controlled by one source.

What does this even mean?

Are they trying to claim that they can't be DDOS'ed?
Click to expand...

That makes two people who didn't read the article.....
 
I'm not into Bitcoins/other currencies. I saw the article on a feed and posted it here because there's a lot of discussions about virtual currencies. I saw "Bitcoin Copycat" and comparisons between the currencies and figured it might be reasonable to say it's a competitor. Maybe I should've added a question mark at the end of the title. Not quite sure what is annoying you guys though. Please let me know of any misunderstandings (apparently the article is misleading - article comment).
 
Alinea said:
I'm not into Bitcoins/other currencies. I saw the article on a feed and posted it here because there's a lot of discussions about virtual currencies. I saw "Bitcoin Copycat" and comparisons between the currencies and figured it might be reasonable to say it's a competitor. Maybe I should've added a question mark at the end of the title. Not quite sure what is annoying you guys though. Please let me know of any misunderstandings (apparently the article is misleading - article comment).
Click to expand...

A search of the forum archives would have given you a lot of good information on BitCoin. You didn't even read the article.

Next maybe you will theorize that BitCoin is "just like a Ponzi scheme"? Or maybe it's "just like a pyramid scheme"?

Maybe you should read the wikipedia articles on all three of those topics before posting again. Otherwise some deserved flaming could result.
 
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Ripple just seems odd to me it sits at the 3rd highest market cap because of its volume but i can barely put together a reason for the whole system
 
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