I don't understand why you keep referring to BTC? There are clearly better technologies out there. You are using one of them now.
Because BTC is the furthest along and it's a good way to show unintended consequences of misaligned incentives.
As I said in my post, all the ideas and employees of Ripple may be honest but Ripple is far more open to corruption than other projects, it's that simple.
I don't understand how you can defend this claim or what the basis for it is. Do you agree that all mined coins are more susceptible to corruption since the people with the lowest cost of power tend to all be in the same jurisdiction? Do you agree that all ICO coins are more susceptible to corruption because the developers tend to be rich before they deliver and have misaligned incentives because they are spending a pile of unencumbered money?
It seems we're being compared to mythical perfection.
You acknowledge it's an issue, it's always going to be an issue. The distribution of ripple...how it's all happened so far ensure that in my opinion.
Again, the way we did it is demonstrably superior to both the ICO model or the PoW model. We used the best method known at the time and I still don't know of anything better. It aligns incentives well -- the public can participate, but the token doesn't get diluted day one to fund development. It doesn't coerce the stakeholders to be whoever has cheap power, and it doesn't create a stakeholder (miners) who want high transaction fees -- averse to those who want to transact.
It's main client base seems to be bankers....who are responsible for the majority of the world's ills.
Nonsense. That's just the business model Ripple, the company, is going after. Businesses are promoting other coins that way too. And we're getting the banks to use a system they do not control.
Why stop at ripple with all its flaws when you can keep looking or keep innovating?
Well, I don't agree about the flaws you see. But I do agree that Ripple is not perfect and we have no intention of stopping the innovations. We've been innovating with things like ILP and standardizing payment protocols and so on, and we aren't going to stop.
BTC is not the furthest along. Ripple is centralised from the ground up. If you can't see that, you don't care to. That does not make you a bad person in my opinion, just blinded. I wish you the best of luck, I can't say the same for ripple. Thank you for the good natured debate. Take care bud.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit