Ripple issues its token in a centralized fashion, unlike other coins which are mined and incentivized by people dedicating computing power to accumulate them.
Many in the community, including creators of other coins, have slammed Ripple's definition as a cryptocurrency.
"For the most part, I'm not frustrated or angry with Ripple, I'm frustrated with the community's general lack of knowledge these days (i.e., Ripple is a symptom, but not the problem itself)," Reddit user thieflar, a moderator of the Bitcoin subreddit, tells Inverse.
"The fact that Ripple is labeled as a "cryptocurrency" and included on sites like CoinMarketCap has been, for the most part, seen as misleading and inaccurate for many years now," thieflar adds.
"It seems like the multiple-year-long cryptocurrency bull-market eventually reached a point where newcomers have been buying indiscriminately, not understanding anything about what they are buying other than 'it's a crypto coin so you can make money with it,' and Ripple managed to get caught up in the madness," thieflar continues.
Interesting point about Ripple not being a real cryptocurrency. I think the bubble will pop very soon on a lot of these coins.
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Yeah. Apparently Dogecoin is aslo in a bubble. Can you please explain how it's possible for cryptos to encounter themselves in a bubble? My mind has not yet grasped this concept @austinhopper..
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A buying frenzy drives up the price higher than it's worth. Then people start selling and it makes other people start to sell. Then you have a selling frenzy and people can't sell fast enough. This tanks the price.
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But when this happens shouldn't one just buy what they're selling since we can get it cheaper for long term growth?
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Shitcoins will not have long term growth. They will go to zero.
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I see. Is Pac Coin an example of this @austinhoper? Thanks for the education thus far..
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Ripple is more deadly than mosquitos!!!
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hahaha lol....:P
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I was so close to buying a large amount of Ripple in December when some of the most respected crypto wizards predicted that it would rise to $10 in 2018. Thank God for the ability of procrastination..
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I personally don't trust ripple.
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oh why?
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The reason behind is because the founder of ripple has 1/3 of total ripple and he/she has the power to manupulate the ripple price thus making it centralised and dangerous.
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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://cointelegraph.com/news/ripple-hate-is-ripple-a-wolf-in-sheeps-clothing
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