While it's true punters will buy this bc it's a dollar instead of $10,000, what's also true is serious Ripple owners will recognized Ripple's market cap exceeding Ethereum's is VERY frothy, and will sell at that point. Since there's $50 billion of Ripple out there, and punters go at $200 a time, we suspect the Ripple craze will end around $2.00, right about when Ripple makes headlines for exceeding the value of Ether.
$4, in our humble opinion, is preposterous, and we'd HIGHLY recommend finding another coin to punt WELL before then.
We think StellarLumens already makes a better speculation than Ripple at this point. We fully understand the catalyst for Ripple, and the same holds true for Stellar, which by the way is only $0.27 so even FURTHER attractive to newbs.
A few Reasons Ripple ISN't Bitcoin. Open to your counter arguments,
Ripple Network Effect - Small & Weak , No one has Ripple wallets.
Decentralisation - None. Large ownership of coins are with the founders.
Censorship Resistance- Low to None . Government or Banks (as Proxy for Government are able to censor, stop, amend supply or do anything they wish to Ripple. It cannot be an independent store of value.
Replication: How is ripple not simply replicated/ duplicated by the banks or government agency working with the banks?
More to come on this, just curious on your responses to points 1-4
All 4 of your points are spot-on. We were simply commenting on how the dolty buyers of crypto would view Ripple and Stellar.
Longer term, Ripple and Stellar shouldn't go up at all, BECAUSE of the centralization involved. Crypto is ALL about anonymity in the end, the "dark side of the force" coins will win the day, long after most of this stuff has been outlawed.
I own some lumens and I'm thinking of re-entering btc at this stage... xrp is too risky now for my taste. However, the people who buy xrp have no idea what lumens even are, they're just buying ripple because of the hype...
Nobody cares if something is centralized or corporate, either - the market is not filled with social romantics. My feeling is that about a quarter in lumens, a quarter in bts, a quarter in btc and a quarter in eth might carry me well into April next year.