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Comment by ringaroundthetx | Hacker News Reader

All ripple accounts require 20 xrp which cannot be moved so this is an impossibility to begin with

Xrp holders have some function in the network, I forgot

And you could name the price for anyone else that wanted xrp or to use the network

Although I would say Ripple’s XRP is not the settlement solution Id be looking for, I wouldnt say owning 99.999% of them makes it worthless

Owning all of a commodity doesnt make it worthless, even when that commodity is a unique collection of cryptographic signatures

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if i have 20 ripple but can't spend them - how is that different from having 0 ripple?

You gave someone else $40 for free.

right, i gave them to "open my account", now i have 20XRP that i can't spend - how is it different from having 0XRP that i can't spend?

Thats not the point, the xrp being cannot be bought by one entity because there are already millions of addresses and this has a helpful effect on the network and was designed for this exact scenario

Read up on it yourself, I think its some form of staking or validating

Im not the evangelist of Ripple just because Im not succumbing to widespread ignorance and flawed analogies

last XRP can't be bought because they can't be spent. how is 20XRP that you can't spend different from 0XRP that you can't spend?

Right its not, what does that have to do with my grandparent post

My point was that the ripple network wouldnt be useless for the entity that bought 99.99% because of the network structure, I’m not sure what your point is

Another user of the network would need to buy xrp from the majority holder, there’s nothing controversial about that. Diamonds function the same way for DeBeers except they have a much lower standard of utility until the owning entity created a new use for them.

> what does that have to do with my grandparent post

your gp was response to my question, so i thought you thought you somehow addressed it

> ripple network wouldnt be useless for the entity that bought 99.99% because of the network structure

what is "network structure"? it can't be the residual 20XRP on everybody's accounts because those are equal to 0XRP as you've just agreed to.

the point that somebody can still buy XRP from the majority holder^W^W the effective sole owner of all usable XRP is sort of irrelevant, because you can make the same point about any other commodity/currency.

I think we're agreeing

I dont know the answer to the network structure, I think it is some kind of staking/validating thing, thats the basis of my thesis and I had tangentially read it somewhere before deciding to pass on XRP for other reasons. feel free to tell me if you do some independent research on that assumption

Yes it is the same standard of any commodity and currency, which is why its not irrelevant. Same info, different conclusions, odd.

i don't have any useful answers for you. i passed on XRP solely because it has nothing to do with cryptocurrencies and it bothers me that they try to pretend to be one and it seems like people are buying it (pun intended).

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