I mentioned Ripple (ripple.com) during a past TL;DR post. I swear
sometime in early 2014 I will give at talk at Skullspace explaining why
Ripple could be a very useful tool for Skullspace and Skullspace members.
Reminder in short, what Bitcoin is doing for digital/crypto cash, Ripple
could do for electronic networks of credit relationships denominated in
whatever currencies/commodities the users wish to have with each other.
(tracked on a distributed ledger)
Though the emphasis is on credit networks, the Ripple system includes a
built-in cash like crypto currency, XRP.
If you have a GitHub account, don't wait for my presentation to learn
more. Right now, and ending possibly soon, RippleLabs is giving away
2020 XRP to anyone with a GitHub account created prior to May 1st, 2013
that has had public code up since then. I think many of you qualify for that
https://giveaway.ripple.com/
https://giveaway.ripple.com/rules
2020 XRP is worth around ~$11 USD and ~0.05 bitcoin right now. Hard to
argue with free money on that scale.
Thanks to the outbound bitcoin bridge feature being supported by
Bitstamp and the depth of markets there, you can easily trade almost all
of your 2020 XRP for bitcoin and never think about Ripple again if you
so want:
https://ripple.com/blog/bitcoin-bridge-lets-ripple-users-make-payments-to-bitcoin-accounts/
If you want to use that and want to just away give your free 2020 XRP by
way of bitcoin to someone else, here are four good causes that could use
your free ~$10:
#1 Skullspace mining profits
14eS3vDCn66Dy7N1PJXA7KTULPirfCJJeW
https://blockchain.info/address/14eS3vDCn66Dy7N1PJXA7KTULPirfCJJeW
(next sell off at BSides in November)
#2 Journalistic Source Protection Defence Fund for Edward Snowden
1snowqQP5VmZgU47i5AWwz9fsgHQg94Fa
(vanity address!)
https://wikileaks.org/freesnowden
#3 https://my.fsf.org/donate/other/
1PC9aZC4hNX2rmmrt7uHTfYAS3hRbph4UN
#4 https://supporters.eff.org/donate
If you want to keep bitcoin or XRP for yourself and trade for CAD some
time, you could wait until I'm around at BSides and buying.
But if market volatility in the price for crypto coins makes you nervous
as hell, you can hedge the value of this give away right away and lock
in your $10 in CAD or USD so it doesn't crash in value on you.
In the ripple system you can say you trust an exchange like Bitstamp and
trade your XRP for USD owing to you by Bitstamp. You wouldn't want to
use a wire transfer out of Bitstamp to withdraw (fees would eat it all)
-- instead you would wait until you're face to face with someone like me
or a friend who wants bitcoin and in one quick *swoop* you can trade
your Bitstamp USD for bitcoin (at the market price of that moment)
directly to the bitcoin address of whoever is paying you CAD cash (at
market rate of that moment) for it.
Or, email me for my ripple address and you can open a ~$10 CAD trust
line to me in the Ripple system. I'll post a XRP for CAD trade at
current rate and you can utilize that and have less XRP and ~$10 CAD
owing by me to you. Then, when you run into me at BSides or wherever,
you can redeem the ~$10 that I'll owe you.
Mark
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