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Re: Ripple a scam?

From: Melvin Carvalho <melvincarvalho@gmail.com>
Date: Sat, 27 Apr 2013 02:02:12 +0200
Message-ID: <CAKaEYh+Ut5NLmnmQKaPehCqekr-SjGZRSA4RGNsBXHgGhEe4ug@mail.gmail.com>
To: Manu Sporny <msporny@digitalbazaar.com>
Cc: Web Payments CG <public-webpayments@w3.org>
On 26 April 2013 18:30, Manu Sporny <msporny@digitalbazaar.com> wrote:

> Interesting commentary on Ripple being a scam:
> http://ripplescam.org/
> #bitcoin #ripple #payswarm #w3c #futureofmoney
> Some of the arguments are fairly weak, I think the underlying assumption
> that the author is making is that Ripple is attempting to be Bitcoin (it
> isn't, it's a for-profit currency run by a corporation). So, if you
> trust Ripple, most of the arguments go away.
> The open source argument is pretty solid, so is the one about hoarding
> of XRPs. The OpenCoin developer arguing in the comment thread certainly
> didn't help defend Ripple.
> I think the real argument is whether or not Bitcoin is better than
> Ripple, and in this case, it completely depends on what you want out of
> the currency. Fast transactions? Use Ripple. Decentralized and open
> source? Use Bitcoin.
> Any commentary from payment folks on this list?

Obviously this is a hit piece.  The poster certainly is not ignorant in
technical details, but there is a bias that I am unsure is warranted.

I've spent quite a bit of time evaluating ripple, and it has exceeded my

The idea of "preminng" is a controversial issue but essentially equates to
doing an open source IPO.

Opencoin have raised enough capital through a virtual currency to fund 14
developers working on an open source project.  Respect!

They need to open source the server too at which point we will have more

> -- manu
> --
> Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny)
> Founder/CEO - Digital Bazaar, Inc.
> blog: Meritora - Web payments commercial launch
> http://blog.meritora.com/launch/
Received on Saturday, 27 April 2013 00:02:41 UTC

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