/biz/ - Business & Finance

[Anonymous No.17404614]

Ripple's CTO doesn't believe incentives are good for crypto. Is he right?
https://youtu.be/lP63dTY_7j0

[Anonymous No.17404635]

>>17404614
miners try to get the highest transaction fees possible, and normal people want to get the lowest fees. It doesn't work.

[Anonymous No.17404662]

>>17404635
>bakers want to get the highest possible price for their bread, consumers want to get the lowest possible price. it doesn't work

[Anonymous No.17404693]

>>17404662
except in this case, a bread can fluctuate between 50$ based on how long the line is and there are only 7 ovens.

[Anonymous No.17404724]

Supply and demand at work. Don't like it? STIFF

[Anonymous No.17404742]

>>17404693
we'll definitely need more ovens if we are going to purge ripple

[Anonymous No.17404745]

>>17404724
you can stiff and seeth or you can go across the street which can bake a bread in less than 3 seconds and has multiple flavors.

[Anonymous No.17404749]

if there's no incentives it requires trust and trust is expensive and non efficiently scalable

[Anonymous No.17404760]

>>17404742
maximum BTC can do is 27 ovens, XRP is 1500 minimum and can go to 50,000+
with the Cobalt update this TSP goes up to trillions of transactions or basically as fast as your router.

[Anonymous No.17404761]

>>17404693
I'll always remember where I was when anon eternally btfo'ed microeconomics

[Anonymous No.17404762]

>>17404742
Based

[Anonymous No.17404764]

>>17404614
i wonder why the CTO of a tokenized tech project (read: not a cryptocurrency) thinks that incentives are bad.

[Anonymous No.17404767]

>>17404614
The kike has spoken, literally wants to destroys POW

[Anonymous No.17404794]

>>17404767
he literally contributed code to BTC.

[Anonymous No.17404825]

>>17404794
I don't understand why btc people don't jump ship to xrp. XRP is littelry btc 2.0, it fixes all the flaws in bitcoin and is faster.
btc was great as a proof of concept and will always be remembered as the 1st, but newer and better technology is out there.

[Anonymous No.17404854]

Why doesn't this fag just fuck off. Look at him, do you honestly think big banks of the world are going to make him rich by using his token? Every single coin with a CEO will trend to zero over the long term

[Anonymous No.17404886]

>>17404825
Crypto isn't about tech. It's probably the least important thing about it. And in any case it doesn't matter because Bitcoin already has the best tech in terms of what actually matters, censorship resistance and lack of central authority or figureheads. Tps and free transfers are a meme, that's not why we're here.

[Anonymous No.17404892]

>>17404854
you're right anon. you should just forget all about it.

[Anonymous No.17404893]

>>17404825
xrp requires validators that are selected and select newcomers, it's not really automating and can't allow an open economy, you're not fooling anyone

[Anonymous No.17404914]

>>17404886
>censorship resistance and lack of central authority

Bitcoin started out decentralized and over time has become centralized as bigger and bigger miners take over the mining pools

XRP started out centralized and becomes more and more decentralized, like a big bang it started in a single point.

XRP is censorship resistant
https://www.coindesk.com/latest-xrp-ledger-release-boosts-censorship-resistance-and-more

[Anonymous No.17404933]

>>17404893
Anyone can operate a validator node, its open source.

https://xrpl.org/run-a-rippled-validator.html

[Anonymous No.17404969]

>>17404933
>While validator diversity is important, not every validator is likely to be widely trusted and validator list publishers may require validators to meet stringent criteria before they list them on validator lists.

[Anonymous No.17404983]

>>17404969
they don't want some retard with 56k modem and doesn't have a 24/7 server being a validator.

[Anonymous No.17404993]

>>17404914
Miners don't control Bitcoin, that was already demonstrated by the failure of segwit2x. Bitcoin users actually run full nodes, which enforce the rules, giving power to the users of the currency. Do you think any significant set of users actually run a ripple node?
Threaten that bearded pedophile and the rest of the ripple corp with jail time on money laundering charges or whatever else bullshit the government can conjure up and watch how quick the ripple network folds.
Corporate coins are not decentralized

[Anonymous No.17405002]

>>17404614
This was the most important political speech of the century thus far and he got hurried off the stage because it was too much of a black pill for them lol

[Anonymous No.17405009]

>>17404933
I said validators are selected. now STFU you got BTFO and are exposed, go away now shill

[Anonymous No.17405029]

>>17404983
oh no, that is so mean

[Anonymous No.17405044]

>>17404993
https://www.youtube.com/watch?v=cl7IRlAhlD8

Anyone can operate a validator, there is no incentive to do so unless you are large business that uses ripple services. it's not like bitcoin where if you operate a mining rig you get paid.

This is a list of Validators.
https://xrpcharts.ripple.com/#/validators

[Anonymous No.17405080]

>>17404749
All cryptocurrencies require some measure of trust. It's not really about trusted vs trust-less. It's about trust minimization.

>>17404983
Not to mention, the only important thing the validators are doing is ordering transactions. Miners do this in bitcoin, but they have even more control since they can arbitrarily decide which transactions to include or exclude. Validators in XRP don't have this ability and will be ignored by the rest of the network if they attempt to censor.

>>17404993
All nodes (not just "validators") on the XRP Ledger enforce all consensus rules and check the validity of each transaction. Just like in Bitcoin. There are nearly 1000 nodes being run right now.

[Anonymous No.17405116]

>>17404614
Dude looks like Shrek lmaooo

[Anonymous No.17405135]

>flips to page 6 Section F of XRP paid shill book
>>17404825

[Anonymous No.17405164]

>>17405135
Projection + he does it for free like a jani

[Anonymous No.17405184]

do you think he made his money back or capitulated? he bought at around .30

[Anonymous No.17405216]

>>17404614
Ripple doesnt own XRP and yet doesnt believe in burning it because it doesnt benefit them personally. Ripple is not interested in running the crypto well, its interested in dumping bags on retards.

[Anonymous No.17405225]

>>17405164
Litecoin and Bitcoin and such arent paying shills, Ripple definitely is.

[Anonymous No.17405235]

>>17404760
pajeesh...

[Anonymous No.17405256]

>>17404760

[Anonymous No.17405258]

>>17405080
yes and trust minimization is precious since trust is expensive, xrp is less trust minimized than a pow coin like btc so it's not trying to achieve the same thing, it can never replace bitcoin for what bitcoin tries to do

[Anonymous No.17405304]

>>17404742
based and hitlerpilled

[Anonymous No.17405358]

>>17404614
>Listen goys incentives aren’t good and Ripple is Bitcoin 4.0 buy as MUCH as you can you’ll be rich. I’m a good guy too and I’ll sell you mine! Can I put you down for a billion XRP a month? I’m de-risking out of ripple entirely so you can be rich!

[Anonymous No.17405382]

>>17405258
All you have trust in XRP is that the validators you select to listen to will order transactions per the protocol. If enough of them fail to do this, the worst thing that can happen is a temporary pause in the network. And to fix, just stop listening to the malicious validators and operation will resume. Nothing bad like a double spend or stolen funds can occur.

I see no way Bitcoin (or any POW coin) can limit trust to this extent. A failure means not just a temporary pause, but double spends with no clear way to salvage the situation.

So even though you don't have to explicitly select tx ordering nodes in POW coins, there is a massive amount of implied trust in the assumption that 51% of the hashrate will always be controlled by honest miners.

The whole "trust is expensive" meme is nothing but justification for a terrible security model that requires honest users to continually outspend their attackers to the tune of billions of dollars a year. Bitcoin miners probably sell 5-10x more BTC than Ripple sells XRP every year.

[Anonymous No.17405400]

>>17404614
Could this guy maybe shave and get a haircut before going on stage? Yeesh...

[Anonymous No.17405406]

[Anonymous No.17405416]

>>17405382
Huh. Well said. This is the first ripple media I've seen where it was both thought provoking and applicable.

[Anonymous No.17405438]

>>17405382
Nigger, you just went full retard

[Anonymous No.17405471]

>>17405406
based and redpilled

[Anonymous No.17405474]

>>17405225

[Anonymous No.17405480]

>>17405416

[Anonymous No.17405584]

>>17404825
lmfao Ripple is glorified DPoS

[Anonymous No.17405599]

>>17405382
thanks to financial incentives, I trust more bitcoin NOT getting 51% attacked continuously or compromised than random xrp validators. "just stop listening to malicious validators" yeah sure. an automated algorithm don't have the time to check if a validator is malicious and change it, which would be the best part of it.

[Anonymous No.17405693]

>>17405474
Paying people to attack a coin isnt paying people to shill a coin. Nice try Chatzkel. Litecoin and Bitcoin etc are decentralized, no one exists to pay them. If they are paid, its a grassroots campaign. Thats different from a corporation. Also, likely just more paid Ripple shills giving themselves fake black propaganda. Your coin is shit, and it is a scam. This is objective fact. 6 gorillion XRP was unlocked and added to your account.

[Anonymous No.17405870]

>>17405693
>paying people to attack a coin isn't the same a shilling a coin
ok pajeet you can fuck off now.

[Anonymous No.17405932]

>>17405599
Financial incentives can't guarantee safety, nor can they account for every possible attack. There are scenarios where incentives actually favor the attacker. See: https://eprint.iacr.org/2019/775.pdf

With XRP you are specifically selecting validators to be as unlikely as possible to collude. That means making sure they are run by unique entities, are in different jurisdictions, etc.

You could certainly automate removal of a malicious validator (easy to do if you see them refuse to include a known transaction for multiple consensus rounds), but then a honest validator could get ddos'd and inadvertently removed. So the process is still manual for now. That's not really an issue though as a handful of validators going rogue would have no immediate impact.

[Anonymous No.17405976]

>>17404825
cause it’s premined and fully owned by a private company, fucking faggot, Bitcoin doesn’t need any monetary policy fix

[Anonymous No.17405991]

>>17404614
jesus, look at that ugly fucking kike

[Anonymous No.17406009]

>>17404635
Works on bsv nigger

[Anonymous No.17406156]

>>17405932
manual or not I don't want to have to select validators and hope that they don't collude, stop some transactions or something. that's pretty bad trust minimization. but keep working on this project and write things, I'm still looking for the xrp price to moon to be honest

[Anonymous No.17406374]

>>17405870
Of course you responded, and of course you suggest only pajeets would be against kike banks. Obviously youre not white and projecting, Jew.

[Anonymous No.17406597]

>>17404614
he sure likes to
>extract value from the system

[Anonymous No.17406664]

David Schwartz is so far ahead of his time, it's unreal. Truly a genius.

[Anonymous No.17406880]

https://youtu.be/lP63dTY_7j0?t=1680
>w-we are all in this together!

[Anonymous No.17407062]

His arguments are sound only against bsv so-called government pow, and eth+bch pow token platforms.

[Anonymous No.17407282]

>>17404914
You don't need to control the miners to control Bitcoin. You just need enough money to buy up a significant portion of the supply in public circulation. A central bank could do it easily if they weren't thinking like boomers about crypto.

[Anonymous No.17407425]

>>17404614
>Is he right?
he is rich from derisking a fat dump on top of ripple bag holders

[Anonymous No.17407441]

>>17404794
what's his github

[Anonymous No.17407471]

>>17404794
>>17407441
https://github.com/JoelKatz
no contribs to any BIP it seems

[Anonymous No.17407492]

>>17404614
He's right about mining and staking. Look at all the fuckers on here who just see staking as free money. Mechanisms like that will get laughed out of the room by big money.

[Anonymous No.17407559]

>>17404742
Based

[Anonymous No.17407584]

>>17407492
>what are bonds
>what are dividends
Yea big money would surely laugh at your position generating revenue, what an absurd concept

[Anonymous No.17407609]

>>17407584
Bonds and dividends don't have the potential to be exploited to completely compromise the integrity of the product being sold by the company issuing them.

[Anonymous No.17407650]

>>17407609
Public corporate structure is literally proof of stake you idiot

[Anonymous No.17407758]

>>17407441
>>17407471
https://github.com/bitcoin/bitcoin/commits?author=JoelKatz

[Anonymous No.17407784]

>PRAISED FOR HIS INTELLIGENCE
>SOLD ALL HIS XRP
>BUT...BUT..

KYS cripplefags

[Anonymous No.17407786]

>>17407650
But it doesn't allow for 51% attacks that instantly drain billions of dollars.

[Anonymous No.17407799]

>>17407786
>But it doesn't allow for 51% attacks that instantly drain billions of dollars.

What is a hostile corporate takeover and firesale of assets

[Anonymous No.17407825]

>>17407786
Yea, theoretically it does actually. The SEC has since added a ton of legislation that makes it illegal, but if there were no legislation, like crypto the majority share holder could vote to burn the companies money and there would be nothing the minority stake could do but sell their stock. You haven’t thought this through at all and you come in here pretending to know your shit.

[Anonymous No.17407946]

>>17404760
Cobalt is a meme that isnt real bud. Don't delude yourself.

[Anonymous No.17408016]

>>17404933
>>17404983
Simply running a validator doesnt mean you are part of consensus. If you arent added to the ripple selected default list you are simply a validator that agrees with a central groups consensus rather than creating consensus. >>17405080
>All nodes (not just "validators") on the XRP Ledger enforce all consensus rules and check the validity of each transaction
Wrong. The default list does. You simply echo their consensus.

[Anonymous No.17408040]

>>17408016
Stock nodes enforce the rules you brainlet

[Anonymous No.17408213]

>incentives are bad
>noone mentions nano
>still fudding nano with "No InCeNTivES To rUN NoDEs"

NGMI

[Anonymous No.17408417]

#Tachyon and V SYSTEMS teams have been collaborating and sharing R&D in order to find viable technical solutions for aging TCP/IP stack

[Anonymous No.17408440]

>>17407825
>It could happen if these things in place weren't in place
Okay. I deal in reality, not fantasyland.
>>17407799
>Instantly

[Anonymous No.17408576]

>>17404614

[Anonymous No.17408812]

>>17407758
strange that it doesn't show up in his profile page

[Anonymous No.17408903]

>>17404693
>a bread
kek

[Anonymous No.17408960]

>>17404693
Why are you denying the holocaust?

[Anonymous No.17409021]

>>17407758
he didn't contribute much. strange if he bragged about it.

[Anonymous No.17409073]

>>17404614
Who cares what this mangly troll ass mongoloid has to say. The real money will be in sub cent Asian coins like ARPA in the next bull anyway. Screencap this.

[Anonymous No.17409398]

>>17404825
You can't make trustless transfer in XRP

[Anonymous No.17409838]

>>17404614
don't trust this level 20 JEW

[Anonymous No.17410756]

>>17404693
If there are 6000000 ripple tokens and 12 nodes that can process roughly 75 transactions an hour, can all 6 million tokens be spent in two years?

[Anonymous No.17411068]

>>17408016
No, that statement was correct. Consensus in XRP simply refers to transaction ordering which only validators participate in. Once an ordered set of transactions has been agreed to, it is broadcast to every node in the network who will then independently validate each tx and construct the next ledger on their own.

[Anonymous No.17412007]

bump

[Anonymous No.17412012]

>>17412007
dump

[Anonymous No.17412151]

>>17412012
rump

[Anonymous No.17412493]

>>17409021
don't think he did
but any contrib is better than no contrib

[Anonymous No.17412535]

>>17410756
why of course goy. and if you even question the technology you will you to jail. oy vey

[Anonymous No.17412670]

>>17404614

Why do you need a blockchain then? This guy is a fat retarded mongrel scammer.

[Anonymous No.17412860]

>>17412670
kek