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Old 31-01-2014, 10:22 PM
moyyewhon moyyewhon is offline
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Default Ripples

https://www.ripplesingapore.com/

http://www.coindesk.com/bullion-exch...hysical-world/

http://en.wikipedia.org/wiki/Ripple_...nt_protocol%29

Bullion Exchange Brings Ripple into the Physical World.

Silverbullion sg going into cryptocurrencies lol.

About Us

We are very pleased to not only bring you the first ripple gateway in Singapore but also the first ripple Gold & Silver gateway.

Ripple Gateway Pte Ltd, established in November 2013 in the Republic of Singapore, operates a ripple gateway to enable customers to deposit and withdraw both Gold, Silver and currencies into and out of the revolutionary ripple payment network. This simple functionality empowers ripple users to do things that could not be done before. For example, it is now possible to hold gold and silver balances in your ripple wallet and spend them to pay a bill in dollars as and when needed - within seconds. All this from any device of your choice anytime, anywhere. This is only the beginning. We are very excited about building further innovative services in this space and would love to hear your feedback on things you want to see built!

Ripple Gateway Pte Ltd was founded by 4 entrepreneurs with a common passion; the math based currency movement.

Erwin van der Waal
Herco van der Waal
James Cox
Marco Faasse

Our contact details

Email: support@ripplesingapore.com
Email: info@ripplesingapore.com
Our vault partner

We have chosen Silver Bullion Pte Ltd as our trusted bullion supplier and vaulting partner. Silver Bullion, led by German born Gregor Gregersen, is a well established bullion player with an impeccable track record and a strong desire to offer value through innovation and productivity enhancement. By integrating our back ends we can now offer this innovative service to anyone, anytime, anywhere on the ripple network.

All our reserve Gold and Platinum bars are held at the Certis CISCO Center II and all reserve Silver bars are held at Ferrari Logistics. We exclusively hold and purchase investment grade bullion listed under the Singapore IPM rules. This means that all the bullion purchased from our bullion counter is tax free. This keeps pricing simple and eliminates the need for an export permit program.

All bullion that is not procured from an approved mint is extensively tested (Weight, X-ray analyser, ultrasound and if still not satisfied ECM) before submission to our reserves. All customer bullion collections are facilitated at the following address:

Silver Bullion Pte Ltd
20 Jalan Afifi
#03-02A Certis CISCO Center II
Singapore 409179

disclosure: i do have some ripples stashed somewhere.. but it's not my mainstay cryptocurrency
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bitcoins are disruptive in nature, but banks are going to use it. So, my prediction is, the next industry to be UBER'ed will be gold...

Last edited by moyyewhon; 31-01-2014 at 10:44 PM.
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  #2  
Old 01-02-2014, 05:39 AM
Altima Altima is offline
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I read somewhere that ripples was a scam
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  #3  
Old 01-02-2014, 06:33 AM
moyyewhon moyyewhon is offline
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http://bitcoin.stackexchange.com/que...-ripple-a-scam

Is Ripple a scam, as claimed by a website and forum thread?



The single one fact that makes people claim Ripple is a scam is that their inventors keep 20% of the total currency for themselves. This is rather controversial when compared to Bitcoin where all currency is created by miners, starting from 0. – Steven Roose May 24 '13 at 17:12


Closing this question as it is not a good fit for StackExchange. It (as is now obvious from the answers) leads to a lot of personal opinions rather than facts. People have different ideas of what the word "scam" means and so on. – D.H.♦ May 27 '13 at 15:50
1

The source code for the Ripple server has meanwhile been made publicly available, dismantling most of the arguments brought forth by ripplescam.org. – Murch Nov 4 '13 at 9:17

There are two main accusations against Ripple:

it claims to be open and decentralised, but currently it isn't, since the server is closed source and controlled exclusively by Ripple owners (OpenCoin)

it came with a lot of preminted coins, some of which are supposed to be distributed freely, while others are to be kept by Ripple developers and owners (as a payment for the effort)

You may like or not point 2, but that is definitely not a scammy fact, since it's not a secret: as long as they actually do distribute those coins, that is fine.

Point 1 is more crucial: it is widely considered bad to promote something as open when it isn't. Same goes with promoting something as decentralised when it isn't either. Claiming "it will be" quite obviously isn't enough. Once they will eventually release the server sources, their credibility will likely be restored and those accusations should likely stop.



Here's the short answer: no, Ripple is not a scam.

However, there are lots of Bitcoin enthusiasts that believe that Ripple is a competitor to Bitcoin.

Many of the claims in forums and on websites are false.

For example, ripplescam.org says:

Ripple is not open source. No server source code has being released, with the paid developers behind Ripple admitting that it is to prevent others from using building something better than Ripple in true open source fashion.

The source code for the client has already been released; the server code is expected soon.

Every single Ripple nodes is controlled by a private for profit company. It is centralized, like a bank or PayPal. Not a decentralized currency.

Also not true. Anyone can run a Ripple gateway.

I could go on, but you get the picture.

Here's the deal: some Bitcoin people see Ripple as a competitor. Actually, Ripple is complimentary to Bitcoin. Since Ripple is an open payment network, you can use any currency you want, including Bitcoin. In fact, I expect that, if Ripple takes off, Ripple will be the easiest way to exchange Bitcoin for dollars, euros, etc.



No Ripple is not a scam. It's a product, [BASED UPON] open sourced project and an attempt to resolve some cryptocurrency to fiat concerns we have in the existing exchange model. I like to think of Ripple as a meta-currency designed to enhance existing currencies.

There appears to be a campaign on bitcointalk to discredit ripple including some forum members claiming they offered money to claim ripple is a scam. Also ripple has a close relationship with Google, which makes some people uncomfortable. However, nothing about the service or the people working on the service indicate a scam.

https://bitcointalk.org/index.php?topic=212730.0 I was offered $550 to say that "Ripple is a Scam." (at least some people are offered 500 bucks, some just say it for free)
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bitcoins are disruptive in nature, but banks are going to use it. So, my prediction is, the next industry to be UBER'ed will be gold...

Last edited by moyyewhon; 01-02-2014 at 06:39 AM.
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  #4  
Old 27-02-2014, 11:05 PM
RippleSingapore RippleSingapore is offline
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Default Ripple is a protocol to send value including gold and silver online

Ripple is simply an OPEN SOURCE protocol used to send value across the internet. Some people are not happy with the fact that XRP, the internal ripple crypto currency is pre-mined but the fact is that you hardly need any XRP to build great business models on top of ripple.

At RippleSingapore.com have chosen to enable internet users to hold and spend gold, silver and platinum on ripple. We hold >100% reserves and pay ALL storage costs. By doing this we have given gold, silver and platinum bitcoin like properties. All you need is a ripple wallet and setup an account with ripplesingapore.com. We will give you some XRP to activate your wallet so you can get started.

Here is a video on how to setup a ripple wallet: http://www.youtube.com/watch?v=BSed1jbLoGY

Here is a video on how to trade gold and silver on ripple:
http://www.youtube.com/watch?v=Q4biEbQXBnI
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  #5  
Old 12-09-2014, 08:49 PM
Roborovskii Roborovskii is offline
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Aside from the XRP, the protocol and system of exchange is quite revolutionary. I guess with more trustworthy issuers/exchanges, you could trade anything from bottles of water to MMORPG(Online game) currencies. Have been fiddling around with rippleSingapore but at the moment the exchange is rather empty. Anyone want to sell me 2 oz of silver?

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  #6  
Old 12-09-2014, 09:59 PM
moyyewhon moyyewhon is offline
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wah brother.. i haven't had time to understand ripples...
I understand NXT and bitsharex... but for ripples.. I still don't get it..

care to explain in laymen's terms..

I went to silverbullion and ask them too.. their answer is vague...

pls explain to me WTF is a gateway !!!!#@$@#%#


http://www.coindesk.com/ripple-proto...-transactions/
Ripple Unveils Next-Generation System for Digital Transaction Consensus
Stan Higgins | Published on September 4, 2014 at 22:00 BST

Decentralized systems like digital currencies rely on consensus. This enables the network to agree that certain events – transactions, in the case of bitcoin – have taken place.

Miners are certainly needed to generate new bitcoins. Yet, their role is far more critical in confirming that bitcoins were actually sent from one place to another, thus maintaining an agreed-upon ‘truth’ in the network. This keeps the block chain reliable and, arguably, underpins its very existence.

However, maintaining consensus in a decentralized network isn’t simple. The risk of bad actors disrupting transactions or fabricating new ones is an old problem and the subject of much debate and study. Some, though, argue that the bitcoin network’s size and compensation mechanisms account for this possibility.

A recently released white paper from Ripple Labs examines how decentralized mechanisms can prevent bad actors in a block chain payments system from creating fake transactions. The Ripple Protocol consensus algorithm (RPCA) uses a node election system to establish the veracity of new transactions, adding them to a continuous chain of closed transactions that are considered absolute.
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bitcoins are disruptive in nature, but banks are going to use it. So, my prediction is, the next industry to be UBER'ed will be gold...

Last edited by moyyewhon; 12-09-2014 at 10:09 PM.
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  #7  
Old 12-09-2014, 10:41 PM
Roborovskii Roborovskii is offline
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Eh? You're the crypto guru here. Thought you would be most familiar. There are various videos and sites that explain it in different ways.

Basically the main point of ripple is NOT the crypto currency (XRP). It is a network of trust between ripple accounts. Ripple is just a ledger system and nothing more, the trust lies between users on it's network and products/goods/services/currencies/tokens held by its users; not ripple. XRP works a medium of exchange within the network, for the case where trust cannot be established. It also guards the network from denial of service attacks from spamming transactions.

Of course if/when the network grows, XRP itself would naturally increase its intrinsic value due to it being needed for accounts as well as transactions. I would hypothesize that the intrinsic value of XRP is in the number of accounts and transactions within the network. Right now it's at its infancy and therefore the intrinsic value is very low.
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  #8  
Old 12-09-2014, 10:46 PM
moyyewhon moyyewhon is offline
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Angry

still dun understand

ok lets say I wanna sell 2 oz of silver via ripples network and I am in UK..

and u plan to buy it and you are in singapore... how do I go about it?
Do i send u the 2 oz silver via post?
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bitcoins are disruptive in nature, but banks are going to use it. So, my prediction is, the next industry to be UBER'ed will be gold...
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  #9  
Old 12-09-2014, 11:03 PM
Roborovskii Roborovskii is offline
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For that scenario, we could do a simple account to account direct transaction.
The idea is that you continue to hold on to the physical 2oz, but create an IOU in the system.

E.g. Since you are selling me the 2oz for let's say $26SGD each.
I would have to set trust to your account for minimally $26x2=$52.
I could set it higher but not lower.
I would then wire $52 to your bank account.
You would then either 1.Send me in ripple network an IOU of $52, or 2.Send me an IOU for 2moyyewhon_oz.
On my account, I would either see $52 or 2moyyewhon_oz.
What I see on my account is an IOU, as the $52 or 2moyyewhon_oz is still physically with you.
I could then transfer or sell the $52 or 2moyyewhon_oz IOUs to another person, and they could then collect it from you (if they wanted).
However that person would also need to have set the same/sufficient amount of trust to your account.
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  #10  
Old 12-09-2014, 11:10 PM
moyyewhon moyyewhon is offline
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awesome explaination,

what if I run away with the 2oz and dissapear?

wats the remedy?
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bitcoins are disruptive in nature, but banks are going to use it. So, my prediction is, the next industry to be UBER'ed will be gold...
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