Re: Opentabs: Money without banks (50 min. video)

On 01-Dec-13 2:40, Jeffrey Cliff wrote:
> Watching this video felt like I had fallen into a bizarro universe
> where Ripple was not invented.  Right down to the 'selfish betting
> cycles' question at the end.  There seems to be a lot of reinventing
> the wheel happening.
>

hi! sorry for the late reply, the reason for not mentioning Ripple 
during that forum was not because any of us is unaware of Ripple. :)

Having said that, the Ripple i knew and researched while designing 
Opentabs was the decentralized one, I hadn't yet tried out the current 
commercial one. I did try to sign up for it just now, but unfortunately 
the only gateway where I could pay with a European bank account was 
justcoin.com, and they have a 25 euro minimum plus a 2,50 euro fee, 
which i found a bit too much for just a test account.

Every system has its good and bad points, and although i guess Ripple 
has gotten some criticism for declaring themselves as the initial owner 
of all XRP, i think they're still a valid product.

i think the main exciting point is that we now live in a world where 
everybody has in their home, or even in their pocket, a powerful 
computer with a secure network connection like the ones only big 
institutions like traditional banks could operate 40 years ago. that, 
for me, is enough to think that some great things will change in the 
next decade or so, in how we use money.

there's enough room in the payment and banking space for decentralized 
systems like Bitcoin, Opentabs, OpenTransactions, PaySwarm, old Ripple, 
etcetera, as well as more commercial systems like current Ripple, 
m-pesa, paypal, creditcards, ATMs, etcetera.

hope that makes sense; anyway, thanks for watching the video!


cheers,
Michiel

Received on Saturday, 14 December 2013 18:07:04 UTC