Talk:Introduction to Ripple for Bitcoiners
In the list of things that are different with Ripple compared to Bitcoin, Ripple is said to have no currency risk. Isn't this a bit misleading? The currency risk for a particular currency in Ripple should ideally be the same as for that same given currency outside Ripple, right? However, the statement that there is no currency risk inside Ripple seems to suggest magically removing risk from conventional currencies.
If you normally transact in USD, holding BTC has currency risk. With Ripple, you can hold USD and not have the currency risk associated with holding a different currency. Please feel free to propose better wording.
Distributing 100 billion XRP
Putting a cryptocurrency such as XRP into circulation is a major issue in itself. Devcoin has a positive attitude in that respect. Ripple giveaways on the other hand are... intriguing. But consider this: the major world killer is plain hunger, while food surpluses that were donated to the World Food Program are now converted into ethanol for cars.
So why not put Ripples into circulation through the WFP? Buyers could also select their preferred beneficiary among approved humanitarian organisations.
Benefits for Ripple:
- Huge media buzz on all networks
- Better image for crypto$ (not just for drugs or laundering)
- Easy acceptance of "pre-mined" ripples
- 100 billion good vibes…
The profit mechanism for Ripple/OpenCoin could be based on commissions or fees, but it should be made clear from the outset, or the community will frown at the whole project.
From what little I understand, world hunger is a political issue not a resource issue.
In the last few years, traders have been switching massively from bonds to food stocks such as rice, wheat or corn. Food being inelastic and seasonal by nature, they cause huge price hikes. Gains are optimal when customers start to starve out. On the other hand, the food WFP takes to war or drought hit zones is from donations or bought at sharp prices and stored. That's all lost money for big business. Everything we do is political in a way or another I guess.