Re: Ripple a scam?

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
expectation.

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
visibility


>
> -- 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/
>
>