Ripple's (XRP) creators give feedback on Bitcoin in May 2009 \ stacker news ~bitcoin

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Ripple's (XRP) creators give feedback on Bitcoin in May 2009 groups.google.com/g/rippleusers/c/1GsQzGv9Y14

276 sats \ 8 comments \ @OneHungLow 16 Oct 2022 bitcoin

283 sats \ 0 replies \ @0260378aef 16 Oct 2022

Interesting find!

Important to note: Ripple was invented (iirc) by Ryan Fugger around 2004(?), it was a technological idea about trading over a p2p network using IOUs, essentially. Somewhat cool idea that, unsurprisingly, didn't take off.

Around 2012(?) "Ripple Labs" was created, in the midst of the growing enthusiasm around Bitcoin. It was essentially a scammy attempt to get rich off the back of Bitcoin's success. Printed trillions of tokens (great way to exploit unit bias; even back then when Bitcoin was $10ish, and around $50 when they started their big marketing push in 2013, having something cost sub-1c appealed to people's monkey brains, just as it does now), and started by Jed McCaleb (see his earlier project, MtGox). I couldn't care less what the legal truth is, but they just literally printed a currency and sold it to people, for bitcoin and other currencies. They pretended it was decentralized but that was 95% theatre (at one point they lost the entire history of their 'blockchain', lol). Ripple as defined by Ripple labs is a joke, and the butt of the joke is all the mass of fools out there who don't understand the above.

All of this 'important to note' is because the discussion on this google groups thing is back in 2009, long before Ripple Labs scammers showed up. Just a tech group with an interesting but ultimately unsuccessful idea.

110 sats \ 0 replies \ @nymkey 16 Oct 2022

They all failed to see the value of the 10 minute per block
adjustment of difficculty that makes/made impossible 
for any ¨power¨ to steal all the value as they implied.

Most fail to see that Bitcoin is tied to time in a very powerful 
yet subtle way and thus they think/thought of it as another
´bitgold´ proposal.

Now it is more understood but still the rethoric is leading 
to accumulate instead of using it daily and that is why full
adoption is taking longer.

It will happen, eventually, most of us, today, will need to 
give up for it to flourish.  Next generations will laugh at us
for having been so naive about it.

153 sats \ 1 reply \ @0347c62ddd 16 Oct 2022 freebie

Around that time Charles (OP of that thread on Google Groups) had written to Satoshi, asking him if he knew of Ripple. Satoshi replied stating how Ripple required trust, whereas bitcoin was designed such that no trust was needed.

0 sats \ 0 replies \ @cointastical 7 Sep 2023

Just learned that OP of that the OP of that thread is now on SN.

10 sats \ 1 reply \ @k00b 16 Oct 2022

TIL Ripple existed before Bitcoin. They seemed to kind of get it which is nice.

158 sats \ 0 replies \ @03ba499d03 16 Oct 2022 freebie

Correction. A project totally unrelated to the current Ripple/XRP was called Ripple before bitcoin.

In August 2012, Jed McCaleb hired Chris Larsen and they approached Ryan Fugger with their digital currency idea. After discussions with McCaleb and long-standing members of the Ripple community, Fugger handed over the reins.

https://en.wikipedia.org/wiki/Ripple_Labs

0 sats \ 1 reply \ @bitcointerest 16 Oct 2022

Digging deep into the archives. I prefer to focus on the future instead of digging up the past. After all, Bitcoin is the future not the past.

0 sats \ 0 replies \ @jgbtc 16 Oct 2022

Those who cannot remember the past are condemned to repeat it.