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7 years ago in #crypto by bitcoinflood (79)
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Ripple is shady as shit. Let's not even get into the many lawsuits between Ripple management and Jed McCaleb, who is also creator of Stellar.
Right that has always been my feeling towards Ripple its a real shame it is the 3rd coin on the market cap :/
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Investing in a coin that is controlled by some company (61% shares) in an unregulated, wild-wild-west typo of market is not the wisest decision you could make.
I can not say I am worried with Ripple being in the hot water either.
Down with centralized coins. However, there are more centralized coins like that one, however, people dont realized that.
I'm only aware of ripple and tether, can you tell more centralized coins, please?
Bitcoin is centralized but in a different way than others think. Bitmain (manufacturer of ASIC that mines BTC) can basically do what they want with they price. They own the market.
Stellar is also too much centralized.
Even projects like WAN, VEN, ICX are centralized in a way (they are government backed and the contruction of their modes makes it very easy to manipulate the system...).
On a more philosophical note: I dont think that mankind is ready for decentralization. Unfortunately, people cannot take responsibility for their lives, so they need someone to tell them what to do, what to think, and how to deal with money... That's a sad fact in this dumbed-down society of 21st century.
Actually I like to counter that-everyone looks at bitcoin the wrong way. The miner are not the dencentrzled part. It the nodes-remember UASF? Nodes are what matter in bitcoin and fake nodes are very easily seen. Also since bitcoin has no lead dev the development of bitcoin is the most decentralized.
And for the miner part with the introduction of halong mining Bitmain dominance in bitcoin mining has dropped. A much need computer has arrive to asic and samsung is helping halong mining in the quest for an alt mining company. With the bad press Bitmain has-less people buy for them. Anyway that is my counter :)
I have no prior knowledge and I have never paid attention to Ripple.
As I have read, it is seemingly like a security. The way it commenced; The coin is already available and mined and is just been given out as rewards for bringing new users. This closely looks like MLM marketing that works on the referral system.
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Its not that I'm a hardcore purist, by all means I try not to fall into unpractical behaviors, but the concept of ripple is/was something I can't get behind.
I call Ripple the Judas crypto... We are participating of this ecosystem because we are upset, tired, annoyed and frustrated with how the powers to be control every aspect of our life. And we are considering a crypto that can potentially keep these same powers, these banks relevant in the new ecosystem...
I can't do it... I just can't... I don't mind missing out on the 10X if it ever does that to begin with.
Same principles I have on this coin as well
Maybe, but there is no way the SEC is going after one of their own
The ripples are just a function of absorbed momentum. I hope it will later gain momentum like the rest of the crypto-currencies. Thanks for the insights into the coin @bitcoinflood.
I really respect this breakdown of cryptocurrencies, I have done a similar breakdown but from a slightly more humour based point of view, please feel free to read it, and laugh :-)
https://steemit.com/funny/@georgemason/the-number-1-reason-you-aren-t-getting-rich-from-bitcoin
Upvoted :-)
Oh no! my ripple...😟
I wished I have entered ripple much earlier because I feel like I missed the train of opportunity. Well, there's always a second time. In sense of security, we know people that there's no perfect system. Let's just some faith in it.
Thanks for sharing update proving crypto currency news. I like it this crypto. I appreciate your valuable Post....
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I wonder if the Ripple is not just trying out something else, a way to stay out of the hands of governments... might be in the end it turns out to be the only one left over
Ripple was never part of my tops, there are some alts that will take me so much to venture into, the regulations surrounding a coin is first thing, not especially when there is a lawsuit trailing it
Funny how you 'used' one of the worst coins in crypto in your title post. One coin. Bitconnect was a puppy for this one
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time will tell!
I too think ripple is a security- all ripple fans tell me with more partnerships Ripple price increase that one of the key def of a security!
We want the same success for Crops and HTRC.
I agree - I don't really like ripple because of its centralisation, but keep in mind that ripple has made many deals with big banks and players in the financial industry. So i will keep a little amount of ripple ... just in case it will be the #1 payment system of the banks.
Ripple is a future believing coin and it's more power
had Ripple for a while. Do not like the market cap at 80 cents. Does not make sense. I like DGB for a Hold. Any thoughts on that?