RIPPLE IS EVIL

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I have two reasons why I call Ripple evil- They destroy coins after an transaction- They don't want other cryptocurrencies to succeed
They destroy coinsIn my opinion money is money and it's something that's life savingfor some people, so I don't understand Ripple's idea to vaporizecoin to seal an transaction. I know that it's a mechanisme to stopspammers, but why not give the coin to a person? In the far futureXRP's might even become really expensive, yeah I know that you canjust change the code and BOOM, you got a load of new coins, but....
Don't want other cryptocurrencies to succeedSure they got Bitcoins on Ripple, because it's the most populair andthe first. LTC is only on Ripple to show people that they really don't care about other crypto's. LTC has been on there for months, but nobodycan actually send LTC. Let's say that Ripple added all 200 cryptocurrenciesto it's system, if they did that we would have a landscape where allcryptocurrencies could talk to eachother. What I'm actually trying to say is that I hope that somebody forks Ripple and add all 200 cryptocurrencies.Imagine having Litecoins and sending someone Dogecoins, with the pressof a button.

Posted on May 21, 2014 at 7:55 PM
Last Edited: May 21, 2014 at 7:59 PM

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sile16

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Posts: 21

I think the new asset exchange platform will help allow coin-coin transactions. Although you still have to have some kind of 1-1 promise of exchange by some party. I'm not exactly sure how ripple "puts" ltc on the network by i'm assuming they just hold some LTC, create an asset on the ripple network and promise to always exchange 1-1. So, this still requires us to trust that ripple will hold that promise.

I think the problem with ripple is that its a company that is holding a large amount xrp with no clear plan how they are going to use it. They probably have access to so much XRP , they don't mind burning some.

Posted on June 25, 2014 at 6:47 AM
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albertmat27

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Posts: 10
Location: USA

@sile16 I think the new asset exchange platform will help allow coin-coin transactions. Although you still have to have some kind of 1-1 promise of exchange by some party. I'm not exactly sure how ripple "puts" ltc on the network by i'm assuming they just hold some LTC, create an asset on the ripple network and promise to always exchange 1-1. So, this still requires us to trust that ripple will hold that promise.

I think the problem with ripple is that its a company that is holding a large amount xrp with no clear plan how they are going to use it. They probably have access to so much XRP , they don't mind burning some.

It's my understanding that the way LTC gets into Ripple (or any other currency for that matter) is through gateways. Gateways would not be owned by Ripple Labs, but by other companies, and those companies would have to be trusted to get your currency of choice into the network (much like banks). I've not seen any altcoin gateways up yet, but I recently heard one is under development.

Posted on June 26, 2014 at 7:07 AM
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