OpenRuby.com

23 Dec '12, 9am

is ripple a trojan horse that will destroy bitcoin? #bitcoin

I definitely don't see it as a threat to Bitcoin, and I see it as a complement that, if it works, will reinforce Bitcoin. The biggest fundamental difference I see is that Bitcoin is a platform that issues "Bitcoins" and keeps track of them, and Ripple is a platform that lets the participants issue IOU's and keeps track of them. A ripple IOU is only as valuable as you deem it to be, and how the law deems it as well. Here's a problem the way I see it: Ripple will have chargebacks enforced by law, regardless of whether the technical design allows for them! Ripple will have interesting security and legal implications all its own that differ vastly from Bitcoin. With Bitcoin, if someone hacks your computer and steals your bitcoins, the consequences are limited to a) your coins are gone, b) the thief gets away with coins in numbers no greater than what you originally had, and c)...

Full article: https://bitcointalk.org/index.php?topic=133023

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