Depends on what you want to do with the coins. I see potential in them, but haven’t really looked into them that much since bitcoin is taking such a huge chunk of my mining power. But there’s talk about XRP for banks and stuff like that – how feasible would it be to create exchanges where they can be traded?
Quote from: Iamtommie on April 17, 2014, 02:31:47 PM Quote from: adaseb on April 17, 2014, 01:58:44 PM So what is the point of all this BS ripple crap?
I ask because if you’re talking about the 10 billion coin group buy then just exchange your btc -> ltc or something simple like that and away you go. There’s no expenditure required by consumers at all.
If I was trying to explain it…
What we need right now is basically a distributed network whereby we exchange value through proof-of-work using existing trusted hardware (asics) and existing trusted software (blockchain). If we centrally managed the blockchain consensus system it wouldn’t work very well and would result in centralization of trust into massive corporations akin to Paypal or Verisign etc.. etc.. You could try this for banking transactions too but these large systems don’t scale very well. Ripple seems able to solve both problems simultaneously let me add although to me it doesn’t matter which technology you’ve used – anyone who understands crypto economics