With $16bn in cryptocurrency, Ripple attempts a reset

ft.com

21 points·pavanyara··7 comments

I cant read it but here is CEO of Ripple's response.

https://twitter.com/bgarlinghouse/status/1294047057787797504

Paywalled, anyone have text?

Search the title and click through to the article. Seems to work for me.

Can't read it either but this seems to be a copy: https://technocodex.com/with-16bn-in-cryptocurrency-ripple-a...

Ripple is junk, there's nothing to reset. That thing doesn't even have a proper blockchain. Anyone could run a service that works just like it out of a cloud hosted DB (or on Github, with transactions submitted in the form of commits).

I'm vouching this comment. I've run a lot of cryptocurrency stuff, and in my opinion XRP nodes aren't worth the trouble to run. Because the consensus is decided by a validator under the control of the Ripple company there's really no point. Instead you just connect to one of their nodes and use it like any centralized service.

In my view XRP is distributed but not really decentralized. It's sort of like DNS: Here's the list of nodes that you just blindly trust. Ripple the company can't seize your XRP holdings but they can freeze them and if they stop running their special nodes the whole system dies.

Ripple is hilarious. Should listen to the CEO talk bullshit about the project. It's basically PayPal with a gambling token. The extent they'll distort the truth will make your head spin. I think the CEO deserves a lot of credit for his ability to mislead with a straight face. It definitely has helped the project and the price of the token

Reply on news.ycombinator.com