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My understanding is there are 100 billion pre-mined XRP coins all belonging to Open Coin who have a vague plan to distribute them at some point in time, fairly. Does anyone else see a problem with this or is there more to it than that? It seems to be far more centralized than any central bank we have at the moment.

marked as duplicate by Nick ODell, o0'., eMansipater, Stéphane Gimenez, cdecker Apr 18 '13 at 8:08

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  • 1
    Seems like you want a discussion not a real SE question. – dchapes Apr 15 '13 at 7:15
  • Hi Dave and Nick. What I was looking for was an answer such as 'Ripple does have pre-mined coins but this is irrelevant because the coins are used as an anti-spam mechanism and have no inherent value' .. or something like that. No need for a discussion and focused more around the strengths / weaknesses of the centralized distribution as pertaining to ripple than an explanation of how they are distributed - they have said themselves they won't reveal this. – q99ujacw Apr 16 '13 at 7:57

This was extensively discussed @bitcointalk.org, for one example see: https://bitcointalk.org/index.php?topic=146964.0

There is much more in other threads there.

  • Thanks - was hoping to get a more condensed version, it seems to me there is two schools of thought. 1 - they are used for anti-spam so have no inherent value, 2 - the are required for transactions so necessarily have value. These to opposing positions are made in the page you reference but it's hard to interpret which is correct. – q99ujacw Apr 16 '13 at 7:59

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