Ripple = Centralized??? think again 😊

[SuiMikira]

There is nothing to think again here. Ripple is centralized. What did you think to open this thread

[makuhpal]

i dont care if this coin is centralized or decentralized i am trading XRP right now from 5btc to 10btcs do you think i care?

[RainbowCurrency]

I'm no "crypto" expert. But the simple fact that Ripple is being used by/for banks says it all, doesn't it?

Centralization = banks

Decentralization = no banks

Centralization all the way, so it seems.

My feeling is that Ripple enables banks to jump on the crypto bandwagon, so they can try to restore their reputation. This is too late though, in my opinion.

Here's a few questions:

Why do you primarily use the blockchain for?

What makes it so attractive to you?

What I love about blockchain technology the most is that it enables people to "be their own bank". I also like the idea that we are part of something big. A HUGE financial revolution in the making.

Together we can build a better financial system. One that is more independent, accessible and fair.

Banks, as we know them today, are DEAD. Ripple is probably one last attempt for them to survive.

While I was initially tempted to invest in Ripple, the more I read about it the more I realize it doesn't make sense (to me).

Buying Ripple would be against my values. And also, I believe, against the whole purpose of blockchain technology just outlined above.

Besides, if we want to create something new, the old needs to go away.

So why still fuel the old system when it's about to collapse?

Cheers!  

[owolabiayodele]

Yes it is and it will never change in being Centralized, I doubt about it at the very first time that I knew it was centralized because the essence of most of the crypto currency is to be decentralized and not being controlled by any, most of all regulations from authorities but here comes the Ripple.

Theymos already made a thread about his idea with different cryptos besides Bitcoin here: https://bitcointalk.org/index.php?topic=2095328.0 and he qouted Ripple to be '100% centralized'

this thread is interesting and educative....

[Maren]

As soon as you have a single entity with control over the supply, you're centralized. Validators all over the world only make that centralization stronger.

[nmax21]

Sooner or later Ripple will fall to the bottom, because it is not a crypto currency. Now it is growing, because it is poured into large funds of the bank. RPL is more like a fiat.

[kenlomosad]

Is it okay to invest in xrp since it is mooning?

[NorrisK]

I will tell you my opinion why is XRP much better than BTC.

When you make transaction of BTC you must wait about 1h. Let’s say that you must use BTC for company business trading, someone buy me a machine which cost 3 BTC and he send me, after 1h I receive that BTC, but since this coin is unstable in 1h can lose also 200€, so that mean that I get from my client 600€ less, aaaa???

Are you seriously think that BTC is a thing to use in a company for trading goods? This coin is not useful for normal life. I better use SWIFT which take 3 days and they charge 30€. We have in Euro community also SEPA which take about 1 day, many times can transfer same day if is made in morning and they charge from 0,3 to 0,5 € (depend of bank) which is nothing.

Now let’s look XRP, this need to make transaction in 4-6 second, which is so fast that currency will not change or very little.

Now tell me which coin, token or whatever you want to call is more useful for a company trading and normal people?
I am not a big holder of XRP in fact I hold more BTC and some altcoin, but in my opinion of all 850 crypto currencies which you can find only Ripple have a useful idea, sorry guys that my opinion.

Before that was the risk the paymet processors were taking. If you use certain services, they would directly transfer you your fiawt instead of bitcoin.

Besides, Ripple open blockchain won't even be used directly, it's just the tech that has been around for many years.

[yunuzov]

Honestly as a trader i don’t care much about it. Of course i agree that being centralized is against to nature of crypto but since I’m not holding millions in ripple i am fine with it.

[Herbert2020]

just because "ripple.com" says ripple is not centralized doesn't mean it is true!
of course they are going to deny the shit out of it. what else did you expect? did you want the owners to say our product is shit? no, instead they will call it the best thing ever existed and try to hide all the flaws in it including how centralized it is.

it is only one company who controls all the supply and releases it and the worst part is just like Paypal,... they can freeze your funds and take it away from you if they wish to. not call it decentralized!

[ralags]

yes it is one company which controls all the supply and holds major share of coins and releases it on their wish. its centralized!!

[g___]

Sooner or later Ripple will fall to the bottom, because it is not a crypto currency. Now it is growing, because it is poured into large funds of the bank. RPL is more like a fiat.

😂 😂 😂

if anything, ripple will succeed because it's working within a system (legally) to improve a process. what's btc doing?

[r95222]

Sooner or later Ripple will fall to the bottom, because it is not a crypto currency. Now it is growing, because it is poured into large funds of the bank. RPL is more like a fiat.

Growth possible with own blockchain only? It's impossible that XRP fails because it's like fiat. Today technology interested for banks and financial whales not crypto/ non crypto

[Gandalphlegrand]

Yes it is and it will never change in being Centralized, I doubt about it at the very first time that I knew it was centralized because the essence of most of the crypto currency is to be decentralized and not being controlled by any, most of all regulations from authorities but here comes the Ripple.

Theymos already made a thread about his idea with different cryptos besides Bitcoin here: https://bitcointalk.org/index.php?topic=2095328.0 and he qouted Ripple to be '100% centralized'

Exactly, Ripple is nothing but a cheap trick by the banksters and the feds to try to overthrow Bitcoin and other decentralized crypto. F**k Ripple.

[markovi4mark]

If you understand the concepts, then it is not considered centralized. By the consensus of network participants, but this doesn't make it centralized. In principle, the work is based on distributed networks. From this it follows that is there are no centralized. But I myself am outraged that a big share is in the hands of the owners!

[jan.nicolas]

I also think that Ripple is completely centralized, because many factors point to this, and, moreover, it is probably possible not to call Ripple a crypto currency, it is in fact not it. Many people have already talked about this, so it's worth simply admitting

[Natetan1004]

No doubt Ripple is centralized cryptocurrencies which is control by the bank. But come on if this one gives you the highest gain in your portfolio will you give it up.

[angelcoins20]

Yeah Ripple is centralized and You can't deny the fact that Ripple is still being owned by banks right? Also the majority of funds belongs to the owner.