RIPPLE NOT A CRYPTOCURRENCY!!?steemCreated with Sketch.

in ripple •  7 years ago 

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The article, found from the Daily Express has this to say about Ripple:

RIPPLE is not seen as a cryptocurrency by financial professionals and experts are arguing it should not be listed next to bitcoin and ethereum.

"...XRP is centralised and was not intended for retail use, it already has an extremely high valuation so I would advise prospective buyers to steer clear for now.”

https://www.express.co.uk/finance/city/910032/ripple-bitcoin-ethereum-cryptocurrency-bitcoin-cash-centralised

Interesting angle, any truth in it!!?

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Yeah its centralized, ripple does not use miners and by design is built on a centralized blockchain for more reliability and more speed they say.

It can also be printed on demand, and when used its destroyed.

It can also be printed on demand, and when used its destroyed.

Am glad you brought that point up! I posted this up from Ripple the other day, FAQs. Note question 9: Can Ripple create more XRP?:

https://steemit.com/cryptocurrency/@agere/frequetly-asked-questions-about-ripple-xrp-discussion

What you think?? BS?

It may or may not be true, but can still be a store of value somewhat. Though I think there are many better choices. Just seems Ripple is going for the integrating with banks route instead of a more adaptable, open and flexible coin.

I would say this is correct atm.

Ripple understands each coin needs an actual use case.

Theirs is banks

That does not make them a shit coin

It actually makes them one of the few coins with an actual current real-world use case it is fighting to solve.

That's a really fair point. Makes me think that this is where Stellar Lumens can capitalise

This is b.s, there will never be more xrp created. It's fud that is spread far and wide. I would challenge anyone to show us where and how this could happen.

Where and how what can happen? More XRP being generated?

Yes, i hear this all the time. I am yet to find one shred of evidence that this is the case.

I would say its a shitcoin, I hope people will wisen up, take their profits and go elsewhere :)

Many would agree! Do you think it will be unrecognised as a crypto or just die slowly in a ditch somewhere?

If you think it is going to die in a ditch somewhere you are going to have a rude awakening.

Bitcoin purist often are blinded by what they believe.

We are many years away from banks and financial institutions being replaced.

It may never happen.


A 85-year-old man with no computer and that has never touched a smartphone in his life will never own bitcoin or any other crypto.

To completely replace banks the market must move to a position in which the people are ready and able to use that currency.

I work with a man who is 45.

He is a stubborn guy.

He has never used a computer in his life.

He does have a phone but it is a flip phone.

Needless to say, he is not going to be using any of these things anytime soon.

If you look at the spread on the two people just mentioned you will soon realize there is an enormous disconnect between what a lot of crypto fanatics want to believe and the reality of actually replacing such entities.


Not everyone in this society or the world is going to progress this direction.

They sure as hell are not going to do it in the next few years like some would like to suggest.


If you dive deeper into this train of thought you will start to discover businesses that are in this same situation.

Or businesses that will not move their money because it is not insured.


There is far more to consider than the dream a lot of people grasp to as if it is their last breath.
  ·  7 years ago (edited)

That is a good point worth making as a reminder mate. I'm no 'Bitcoin Purist' as you coined, but considering how young the crypto market and it's various iterations are, it's interesting at the least to see how something like XRP will move forward and evolve. Will this model of centralisation that Ripple has created for XRP prove to be a stabilising feature and a good example of utilising blockchain tech...or would it prove to be more of a hindrance to it?

Personally, I believe not enough people truly understand Ripple or Xrp.


This is often seen just in their reference to it.

If you use the term "Ripple labs" you are not up to date (2015) on ripple or xrp.

If you refer to the currency as ripple you fall into the same boat.

I often find most people spreading things about ripple use one of these two misnomers which signifies they are either using old info or not well researched.

If they do not even know the difference between the company and the currency how can you trust anything else they say?

Personally, I do not see Xrp as centralized.

Can you explain to me why you believe it is so?


I believe Xrp and stellar both based on the same protocol basically are in a pretty good position to stabilize the industry.

Interestingly, If Xrp was adopted as a liquidity asset which the exchanges ran on a lot of these issues bitcoin is experiencing would go away.

It could settle these transactions in second and put the money in your wallet/bank/ another asset seconds later eliminating tether which is kinda questionable imo.

Even more interesting is you could trade it back mins later to send it back to your bank, btc, eth, dollars moments after that.

The liquidity, trade options, arbitrage opportunities this would create would be amazing.

Unfortunately, i do not believe it is given the credit it deserves.


I hate banks as much as anyone, but honestly, we just are not there yet.

I have no problem using any tech which may help facilitate our transition into the space we wish to be at the earliest possible point.

Personally, i think xrp is one of these technologies as it will bring more mass adoption to crypto due to liquidity.

The first question I am asked by noobs is can I even cash that out?

If I could show them me cashing out in 4 seconds and re-entering the market seconds later it would be a game changer.

I think the sense that Ripple is centralised is due to the XRP owned by Ripple. The company owning millions of XRP will undoubtedly lead some to think that XRP can be 'manipulated' in favour of what Ripple thinks is best for their platform.

That's why the article presents an interesting premise...Unlike other coins where they are all there for the taking, company and commoner alike, XRP was created to compliment their platform...

XRP isn't centralised, but it is in all but name

I can understand that point to an extent although I'm not sure I agree with it in full. So what happens in 2 years or 24 escrow cycles?

What if then they suddenly they own 40%..

Is it still centralized then?

or 4 years?

and they own 20%?

or 6 and they own 1%.

Where does the nonsense end?

When is it suddenly not centralized based on their holdings?

That's a fair point actually, and one I can't answer, thank you for presenting that view point.

I would say this, hypothetically speaking...

XRP is a different creature to other cryptos for the fact that, right off the bat, a very large stake is owned by a company (effectively).
Your illustrative development of them owning various quantities is an an interesting one.
Perhaps the word 'centralised' is not correct...although the premise of it is, namely, that the direction of XRP can be influenced towards a certain direction if said holders wanted to because of their vast ownership of coins. By definition, this is not an organic development but a manufactured one, one primarily based on the commercial viability of the platform calculated and defined by a small group of individuals and therefore, 'centralised'.

However, this is my issue with crypto in the long run, it's ability to remain 'ethical'. Because although XRP has the dynamic of a lot of coins being owned by a relative few, the same can be true of other cryptos and their so called 'whales'. These creatures can also influence a coin one way or another, and have done so before, normally for no other reason than to create more money for themselves during a volatility created by them.

This is what I personally find interesting with this, my mind changing a little due to the very active discussion this post generated. Crypto is like the wild west at the moment! Will it be able to operate the way many envision it to, 'decentralised', either in name or action...or, would it become nothing more than a tool for the same institutions we have currently, albeit run with blockchain tech and clever math instead of a body?

I would love to read a post made by yourself putting your thoughts in these comments together, it's a good case

Read this post that I wrote about ripple and think about it https://steemit.com/ripple/@steemitaddict/for-all-ripple-lovers

lol.. The problem is your post is not based on fact. So let me get this straight. "who is holding the most ripple?" Ripple is, they are a company not a currency. thus far ripple is owned by ripple and early partners like google who entered the company as venture capitalist own a share too.

FACT- ripple has not gone through a ICO.

Fact- Xrp is ripples Currency.

Fact- ripple holds 60% in a escrow account (not banks)

Fact- you have no clue what you are talking about.

If you did you would not be using (ripple) to describe it's currency (xrp)

The rest of your post is pure speculation on your part without any underlying facts.

It's a shame that you have chosen to write about something you have not taken the time to even research.

Is the XRP bubble about to burst??