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27703698 No.27703698 [Reply] [Original] [archived.moe]

>XRP is a centralised shi-

>> No.27703740

-tcoin

>> No.27703863

>>27703698
>holding >45% Supply

>> No.27703923

>>27703863
And Satoshi owns at least 1 million BTC, what the fuck is your point?

>> No.27703927

people are npcs
theyre programmed to dislike xrp and are unable to hold it even if they had free will

>> No.27703938

>>27703863
Never thought about why there is an instant decline after every single pump schizo? They dump their shit on you instantly. Go buy some crypto!

>> No.27704612
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27704612

>>27703938
>Go buy some-

>> No.27705499
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27705499

>>27704612
>-XRP, now, before it's too late

>> No.27706622
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27706622

>permissioned node network
Shitcoin!

>> No.27708359

The flak only gets heavy when you're over the target.

>> No.27708383
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27708383

>>27703863
>he doesn’t understand escrow
>he doesn’t know over 150 validators vote for escrow actions

>> No.27708472

>>27703698
>you have to apply to become a validator
Its a centralised shitcoin op. Face facts.

>> No.27708723

>>27703923
>satoshi's 5% is the same as ripple's 45%
fuck off nigger

>> No.27709319

>>27708723
>it's ok when Craig does it

>> No.27710160
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27710160

>>27708723
>>27709319
>it’s ok when SirGay does it
>>27708472
>Enterprise use
>wholesale CBDCs

>> No.27710298

>>27708472
not only that, the validator is closed source code., its basically a slightly more advanced MYSQL database that runs in a cluster of XRPeepee nodes.

only idiots buy and hold this.

>> No.27710343

>>27703923
satoshi fucking died of cancer you disgraceful fuck

>> No.27711363

>>27708472
>>27710298
wtf are you talking about?
literally anyone can run a `rippled` ripple daemon validator node on any linux box
literally anyone can set their trustlines to other nodes as they wish

>> No.27711814

>>27708472
>I can't think at step N+2
You see those 93% validator that ripple doesn't control ?
ripple has 0 control over their UNL.
so, to add more nuance to your midwit level brain:
xrp is permissioned AND decentralized (yes you dumb faggot) , more decentralized than btc and eth

>> No.27712027

>>27711363
That's not a permission-less consensus algorithm. Ripple doesn't even deserve to be called a cryptocurrency. This scam has being going on for way too long, oddly enough.

>> No.27712061

>>27703698
if your coin has a ceo, premine, is erc20, or "team" that is not the actual community, it is centralised trash

>> No.27712147

>>27711814

A network of explicit trust more closely mirrors how humans already behave.

You don't trust every random person equally.
Every person decides who they will trust and why.

The coins that rely on proof-of-shit will forever be vulnerable to untrustworthy actors with resources, and you can't easily ignore them or vote them out of the network.

>> No.27712254

>>27712027
See >>27712147

Why would you want to run major parts of global financial infrastructure on a system that does not rely on explicitly defined permissions?

>> No.27712270

>>27703698
you do know a mining pool can consist of 10000 individual miners who are free to move between pools right?

>> No.27712401

>>27712270
you do know that this was even a problem years back when ghash/cex.io had at one point 50% of the network with their cloud mining service that users rented from

>> No.27712501

>>27712147
>A network of explicit trust more closely mirrors how humans already behave.
>You don't trust every random person equally.
>Every person decides who they will trust and why.
exactly and this is why I love fba

>The coins that rely on proof-of-shit will forever be vulnerable to untrustworthy actors with resources
best incentive is no incentive

>>27712270
>you do know a mining pool can consist of 10000 individual miners who are free to move between pools right?
except that these actors are economically rational, the incentive structure of these 2 coins is what lead to the situation of centralization ...

>> No.27712517

>>27711814
>36 validators
>decentralized

>> No.27712564

>>27712401
It's a fundamental problem with the model, so those cases don't surprise me.

>> No.27712664

>>27712501
"best incentive is no incentive"
what?

>> No.27712924
File: 1.10 MB, 706x757, asic_fren.png [View same] [iqdb] [saucenao] [google] [report]
27712924

>>27712564
it'll always be a problem, but i truly believe home mining will slowly make a comeback as the cost for entry becomes more affordable and tech establishes itself more; i mined from 2012 to now, but i dropped asics at the spondoolies sp20s because of the insane noise, but fortunately there's people starting to create more efficient and affordable asics for home use:
https://shop.futurebit.io/products/pre-order-apollo-btc-a-bitcoin-asic-miner-and-desktop-class-computer-running-a-full-node-and-much-more-batch-1-ships-in-late-april-to-may?variant=33404666347619

i really do think it's a matter of time until bigger companies take into consideration the current mining problem and aim for home hardware again

>> No.27712986

>>27712147
There is no such thing as trustworthy actors, crypto proofs are based on game theory ideas that entities will give more value to their own survival over the common interest if they are allowed to do so (considering even if they don't do it, someone else will do it for you).
A permissioned network that is able censor transactions, is no different than current central bank consensus. The so-called "trusted" actors will use their power to prevent the system evolution to benefit their own survival (basically, what's happening with GME illegal broker restrictions, can happen on XRP).

>> No.27712989

>>27712517
>4 mining pool
>58% (now more) AND GROWING
>decentralized

>3 mining pool
>57% (now more) AND GROWING
>decentralized

>>27712664
https://www.youtube.com/watch?v=lP63dTY_7j0
I agree that I would add a word to it "best incentive is no [artificial] incentives"
it basically describe what you said here >>27712147
the participating nodes already have a natural incentive to maintain a functioning network, you don't need additional economic incentive like pow/pos

>> No.27713051

>>27703698
XRP was a 100% pre-mine.
Concensus is a lottery system that picks a group to validate.

>> No.27713128

>>27712924
I think it's a matter of time before countries start regulating wasteful mining out of existence.

It will never fly with the climate change crowd or the elites who push it. And regardless of what you think about that, it's a real waste of energy.

>> No.27713220

>>27703698
This will be fixed for ETH soon as it goes POS.
Nothing will ever fix Bitcoin other than more miners

>> No.27713307

>>27712986
This is why on XRPL the explicit trustlines only establish the layout of the network, so the BFT algorithm can mitigate what you talk about regarding game theory.

>> No.27713355

>>27712924
>https://shop.futurebit.io/products/pre-order-apollo-btc-a-bitcoin-asic-miner-and-desktop-class-computer-running-a-full-node-and-much-more-batch-1-ships-in-late-april-to-may?variant=33404666347619

Any idea how to calculate how effective this device is against whatever coin you choose to mine? How do we know this isn't weak or bad ROI?

>> No.27713404

>>27712989
Ah ok, that makes sense when you put it like that.
It's not really "no incentive" but an implicit one.

>> No.27713591

>>27713220
>This will be fixed for ETH soon as it goes POS
POS is centralization. In ETH it is EXTREME centralization.

>> No.27713704
File: 8 KB, 283x178, Satoshi.jpg [View same] [iqdb] [saucenao] [google] [report]
27713704

>>27710343
No he didn't

>> No.27713798

>>27712986
> The so-called "trusted" actors will use their power to prevent the system evolution to benefit their own survival (basically, what's happening with GME illegal broker restrictions, can happen on XRP).
you need a super-majority for that, and you can't do what you want with it
https://xrpl.org/consensus-protections.html

>>27713591
this, they act like PoS is the end game, wait until they discover the flare network

>> No.27713837
File: 186 KB, 1600x900, $_57.jpg [View same] [iqdb] [saucenao] [google] [report]
27713837

>>27713128
if anything the massive energy consumption of proof of work algorithms just states a larger problem in the current state of energy production, and that's already being seen quite evidently in the stock market where biotech and bio energy are starting to really boom while the traditional structure has started to decline
>>27713355
pic related was an asic i had and mentioned in that post, i had a few of them a few years back but each one was 1.7th/s, the ones from that store are 3th/s at 200w, which is really good in terms of reducing size and noise for home mining and a good example of how home mining can make a comeback and increase the fair distribution of the network among actual users

that asic is specifically for sha256, so bitcoin and the few dead sha256 coins, you'd probably want to throw it onto a multipool like nicehash or prohashing which would generate better returns if you can choose to be paid in altcoins while mining sha256, but on bitcoin it's more a long-term attempt at generating coins, where you'd just be better off spending the money on bitcoin itself and holding

>> No.27713839

>>27713307
XRP flare is just a copy-pasta of avax's consensus. Nobody cares about your monkey scam.

>> No.27713974

miners can leave pools and reorganize into different pools

>> No.27713991

>>27713839
Very intelligent comment. I'm convinced.

>> No.27714022

>>27713798
>this, they act like PoS is the end game, wait until they discover the flare network
It's a very easy concept that people don't get. In a POS system, the wallet with the most weight, stakes the most. So that means whoever has the most coins gets the most new coins.
In ETH there was a 71% pre-mine.

If a POS coin starts with zero coins pre-mined, then it is a much better system, but POW is still much better.

>> No.27714086

>>27703740
FPBP /thread

>> No.27714113

>>27712924
Unironically should I get this? I don't care about giant gains, just a positive net profit. Looking for something more or less plug and play. Does it only mine bitcoin?

>> No.27714361

>>27713991
here's a comment for you
your shit has done nothing but make lower highs and lower lows for the last three years
you could have bought ANYTHING and done better than xrp because it's fucking garbage and all but the lowest IQ retail monkeys implicitly understand this. you are in cult that fills in the gaps in your knowledge with supersittious beliefs and continually get absolutely dumped on by the guys you go to bat for

you are the ultimate cucks and worst speculators in the market. fuck xrp and fuck you

>> No.27714501
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27714501

>>27712989
>Good day sir, I'd like to submit my application to become a bitcoin validator!!! Wow, much crypto. Many currency.

>> No.27714559

>>27713974
>miners can leave pools and reorganize into different pools
and why they don't do it ?
because no economic incentive to do so ....
it's about the incentive structure (you look at all pow systems they all end up being centralized)
>>27714022
yep on the long term pos, like pow, doesn't work
>>27714361
>muh price action
look faggot look, doge and mcdonaldcoin is pump go buy quick !
some of us play the long game here.
also, you don't need to hold 1 coin you know

>> No.27714561

>premined
check
>centralized validators
check
>useless fee/funding token
check
>illegal security
check
>freezable and censorable as ripple controls enough centralized validators
check
>late adopter shitcoin
check

>> No.27714710
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27714710

>>27713974
no shit, the problem is that miners don't want to start using pools that have a significantly lower hash rate and thus much slower block finding period, which makes complete sense when they're trying to ensure they pay off their asics and generate income from it

realistically why would you move to a pool that takes 4 days to find a block compared to one that finds them every 10 mins?
>>27714113
like i said it's sha256 so it only mines coins with that algo, which includes bitcoin, i wouldn't recommend it for ONLY mining bitcoin directly, i'd suggest looking into nicehash and prohashing where you can mine sha256 and be paid in altcoins, which would speed up your chance at ROI given the increased volatility and diversification of the earnings you generate

i've mined since 2012, and i'll never stop it because i just find it fun and it helps keep things decentralised, i've personally been contemplating getting a few of those myself just for fun, but if i were you i'd consider:
>do you enjoy contributing to the network of coins?
>do you want to learn more about proof of work and how blockchains work?
>do you mind that it could take many months for ROI depending on market conditions and what you mine?
>do you want to contribute to the decentralisation and remove the chinkjew?

and here's a picture of me mining probably litecoin with my gpu back in 2014 for fun

>> No.27714753
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27714753

>>27710298
XRPL is open sourced you fucking nigger how do you think bitcoin moves on the XRPL? Ignorant retard keep your stupidity to yourself
>>27712147
You just described XRP
>>27712517
Cringe

Bunch of fucking retards stating opinions on matters they don’t understand because they looked into it 6 years ago or are just spewing retard brainlet shit they heard some jewtuber say. 99% of /biz/ doesn’t understand XRP and the XRPL and why Flare will change everything. Even 60% of XSG doesn’t understand.

>> No.27714911

>>27714501
>sorry sir, you're not the IMF nor the BIS, not any other relevant entity, you are a just a fucking pajeet, goodbye sir
>what you can try to do however sir is to buy a shitty gpu and be cashflow negative on your btc mining because your electricity is 10 times more and expensive and over-taxed because you are a goyim than in china, have a good day sir

>> No.27715000

>>27714559
>long game
>you don't need to hold 1 coin
Would you give me a quick example starter portfolio spread? I've only lurked in crypto. Have yet to (( invest ))

>> No.27715112

>>27714911
so you're admitting its a centralized shitcoin. Thanks for proving my point.

>> No.27715113

>>27703698
Shhhhh delete this OP i haven't done acumulating!!

>> No.27715239

>>27715112
see >>27711814

>> No.27715282

>>27713991
So, what's the argument then? Why should I use XRPL instead of avax? Better marketing potential for pumping tokens? Avax has a dedicated team and community, and devs who create actual products will use it. When xrp doesn't serve any purpose than pumping the idiot's money, forever dedicated to useless financial scams and pile of lies. Then naturally, this shitcoin is shilled after it's already too late to acquire significant early shares on the ponzi scheme while the "creators" dump their bags on you.

>> No.27715293

>>27714561
fudbingo.com educate yourself nigger

>> No.27715314

XRP is a dead shitcoin. Anyone who thinks otherwise deserves to lose their money. You'd be better off buying into doge.

>> No.27715399

>>27703698
who believes this lol

>> No.27715456

>>27715314
no you have to buy mcdocoin and chainstink the token not needed because of flare ftso

>> No.27715466

>>27714710
Yes to all. I want to mine, but I have boomerbrain. I've watched a handful of videos and done some reading buy without understanding the majority of it I have no idea who to trust as guides vary wildly. I'll learn along the way but have no idea where to start.

>> No.27715490

>>27715282
XRP is literally on the WEF and in IMF and .gov documents you fucking retard. It’s made for whole sale CBDCs. It’s created for enterprise use.

>> No.27715663

>>27714753
thats not my opinion, its a fact.

>> No.27715807

Open your fucking eyes biz.

>> No.27715965

>>27714361
I invested years ago because I saw the potential for what they were doing and thought it would fully roll out in the mid 2020s, if they're successful.

Also, XRP is not the only coin I hold, so the basis of your rant is inaccurate.

Try to remove the emotion from trading, and you'll do better anon.

>> No.27715972

>>27715663
Over 150 validators, all banks and financial institutions. You’re cringe and that’s literally a statement in an encyclopedia

>> No.27716022

>>27715466
well asics now are very easy to set up and have plug and play setups so you'll be fine in regards to getting it working, since you seem interested enough and aware of the basics, then fuck it fren, it's only $400~ (i'd recommend getting the psu option so you don't have to buy one and jump it yourself) and you end up learning a lot about this space and making a little money from it

i'm sure you'll end up finding it quite fun and it is a neat way to safely enter a bunch of different altcoins and get some alt savings going (since you use mining income rather than buying btc and then the altcoin) if you choose the prohashing or nicehash route of mining

i was only 18 when i got into crypto (now 25) so i entered when everything was mostly command line and writing mining configs, even that doesn't take too long to get an understanding of

>> No.27716121

XRP is the land of the chosen people. We will spit on you goyims

>> No.27716169

>>27715965
> a literal xrp cuck is telling me how to do better

pretty sure you're down 80% over 2017 highs and I'm up well over 100x. How about you tell us what other coins you like?

>> No.27716266

>>27715282
> Avax has a dedicated team and community, and devs who create actual products will use it.

Ripple is a multibillion dollar company with connections to high-level players in global financial centers and governments. They have been working with some of the largest banks, and have positioned themselves at the epicenter of the worldwide CBDC rollouts.

>> No.27716351

https://drive.google.com/file/d/15rLzU8yufnVBnXLVdc8c_tIcgyomCoJe/view

>> No.27716366

>>27716169
Like I said, I bought years ago, long before the highs in 2017. 100x is nice, but I'm well beyond that.

>> No.27716427

>>27715282
the reality here is both are centralised, just imagine the community trying to vote for a new leader, do you think they'll just say okay and leave the project? no, and that's the same for any other crypto with a ceo or team

>> No.27716511

>>27715972
Bearish imo.

>> No.27716689

>>27715972
How pissed do you think all those banks and financial institutions are going to be when they figure out your scam? Lol.

>> No.27716789

>>27716266
Ewww
Bitcoin was built on the premise of allowing individuals to conduct monetary transactions privately, without having to run them through a central bank or third party.

Great that XMR can run the banks and corporations. I'll settle for the original vision of Bitcoin as digital cash. WE don't even have that now because of Corporations.

>> No.27716831

>>27716689
fren, they're in on it, why would you WANT banks and institutions in your "decentralised" money for the people? the entire point of crypto was to escape them

>> No.27716857

>>27716789
"Apes together strong."

>> No.27716883

>>27716022
I really appreciate the insights. Cheers

>> No.27716926

>>27716789
So you can get assfucked by high fees and slow transaction time. Got it

>> No.27716987

>>27716831
>We wuz the chosen crypto!!!

Good luck with that fren.

>> No.27717027

>>27715490
Yes, it is created by the same illusory "reputable" entities who can't accept losing their grip on a new global financial system, and want a head-start instead of playing fair games. When you're more obsessed with survival than doing good for the common interests, your worldview is wrong, by definition.
>>27716266
You can't buy intelligence and more values. The world isn't a zero sum game. If ripple had a few working cells and didn't just hire codemonkeys, they would have joined avalabs. Except they didn't, because their only goal is to pump and dump all the happycoin™, now and forever.
>>27716427
Fair enough. Full on-chain governance isn't implemented in avax, aside for minor parameters. There is obviously no real argument against Flare, since preference on leadership is entirely subjective. You're just more interested in money/power than creating interesting lives, which is why ripple fits your worldview so well.

>> No.27717215

>>27716926
I don't use BTC for anything other than sitting in my wallet.
I use Genuine Bitcoin that cost 1 sat per transaction and is instant. I use it ALLL day long to buy everything.

>> No.27717454

>>27716987
>t. newfag
>>27717027
i have no interest in either of them, and i have no interest in centralised shitcoins in general, if it has a ceo or a premine, or a team that is not the community itself, it's centralised trash

years back altcoins had communities that worked together to create features and contribute to the projects, the "teams" were anyone that wanted to contribute, not a group of silicon valley fucks dumping a premine on its users

really, if a coin has a fucking ceo, nothing about it is decentralised, the network is entirely theirs, especially if there's no way in which the users can vote for change

>> No.27718426

>>27710343
No, but he WILL die of a heart attack if he doesn't stop stuffing his fat fuckin face full of cheeseburgers

>> No.27718532

>>27717454
Decentralized consensus leadership is not as binary as having a CEO or not. Nobody is forced to accept updates proposed by founding members. Avax is still new and unfinalized, and there is so many wrong ways to implement on-chain governance which must be took care of, such as tokenomics, multi-party survival pressures and uncensorable decentralized social communications, in order to be truly effective long-term.
Tezos already implements it (when 80% of voting powers accepts an update, new codebase is downloaded, compiled and executed) and it's planned on Cardano, but it doesn't mean other projects will be unable to evolve with the founding members going away.

>> No.27719422

>>27703927
It is the true IQ test of our generation

>> No.27719633

>>27718532
the best actual example of true decentralisation is the hive blockchain
>witness nodes voted into power by community, can be removed by simply unvoting for them
>any user can run for witness, no requirements at all
>witnesses talk with community, update nodes to new version with upgrades
>if witnesses/community disagrees, no change to node version
>specific number of witnesses need to vote yes for new upgrades to be accepted
>has a reward pool in which features and dapp development are voted for by the community, funded by it, and built by the community members willing to contribute
>anyone can build their own front-end to access the network

i'd argue some old proof of work coins are quite decentralised, but many now follow the structure of having a team or premine

>> No.27720004

>>27713220
But then, wouldn't the China accounts (that are the ones controlling the majority of the mining operations) also control the network due to their amount of ETH?

>> No.27720404

>>27715456
Flare is gonna BTFO chainlink, I'm awaiting the pink wojaks that ara about to come when it launches

>> No.27721984

>>27712254
This is what BTC and ETH blockheads dont understand. Ripple is going to become the infrastructure of the global financial system. In order for crypto to ultimately break the barrier into the existing financial system it will need to have explicitly defined permissions and a degree of centralization. In a way Ripple itself is like the Fed, with the Trusted Validators essentially replacing the transaction processing that now is taking place through clearing houses and wire rooms. The coins being pre-mined is important because as time goes on the massive electricity and resource cost of large scale mining operations will reach a point where that's no longer tolerated. If you truly understand how our financial system operates on a global level and what an orders-of-magnitude improvement the Ripplenet is versus what we have now, you will realize XRP is truly the inevitable endgame of global finance. It is just so, so much better than what we have now, it is basically a viable ready-to-go alternative to the global financial system that is ready to more or less take out of the box and go. You dont buy XRP like it is any random speculative commodity. Its value is purely based on being the native currency of a system that is going to change the way transacting happens. It's just recognizing that this system is such a substantial improvement that its adoption is inevitable

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