Comments on: IEEE: Ripple Credit System Could Help or Harm Bitcoin http://www.dgcmagazine.com/ieee-ripple-credit-system-could-help-or-harm-bitcoin/ — Covering digital currencies, precious metals and online payments Sat, 25 May 2013 18:24:37 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Julia Dixon http://www.dgcmagazine.com/ieee-ripple-credit-system-could-help-or-harm-bitcoin/#comment-155 Julia Dixon Mon, 04 Feb 2013 21:09:53 +0000 http://www.dgcmagazine.com/?p=1088#comment-155 Joel, I am also not a fan of debt money created by commercial banks…I’m not a fan of debt money in general.

However, having now had the chance to properly review the new Ripple system, I understand what you’re saying…It’s not unlimited.

I will be posting my review of the new Ripple system to the site very soon! Please check it out!

]]> By: JoelKatz http://www.dgcmagazine.com/ieee-ripple-credit-system-could-help-or-harm-bitcoin/#comment-154 JoelKatz Mon, 04 Feb 2013 10:17:16 +0000 http://www.dgcmagazine.com/?p=1088#comment-154 “I can’t imagine unlimited debt money as a serious competitor to Bitcoin.”

It’s not unlimited debt money. It’s limited by the policy of the issuers of debt.

Most commonly, “money” is a bank account balance. That’s debt money (the bank owes you the money) that’s limited only by the bank’s policy (enforced by law, of course) not to give people billion dollar balances for no reason.

The entire conventional financial system is based on debt money limited only by the administrative policies of the issuers of those debts.

(I’m one of the people working on the new Ripple system, but I’m speaking only for myself.)

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