[2018-01-01] Ripple Becomes Largest Altcoin As Bitcoiners Issue Warnings

[cybersofts]

Ripple Becomes Largest Altcoin As Bitcoiners Issue Warnings



Ripple (XRP) has overtaken Ethereum as the largest altcoin by market cap in a surge which has divided the cryptocurrency community.

After the payment network’s token reached as much as $2.65 on some exchanges this week, investors are celebrating returns which have topped 1,000 percent in just three weeks. At the start of December, XRP traded at just $0.24.

Multiple altcoins have seen astronomical gains towards the end of this year as Bitcoin’s own surge fueled copycat behavior which saw new all-time highs for assets including Monero, Ethereum and Ethereum Classic.

With a market cap of $91 bln at press time Saturday, however, it is XRP that has stolen the show from Ethereum, which currently has a market cap of $68 bln. Meanwhile, Bitcoin’s overall market share has sunk to new all-time lows below 38 percent.

Reasons for Ripple’s rise revolve around new partnerships with traditional finance, institutions keen to leverage its technology to cut costs and save time.

Despite its newfound successes, however, Bitcoin figures appear wearier than ever, highlighting the project’s centralized structure and comparative lack of use cases for XRP versus the platform itself.

“There is a clear mispricing here between the (past) and the (future),” BitFury CEO George Kikvadze commented on Twitter Friday.

    Ripple - Centralised Solution; Trust in One Company - Worth $100Bln?

    Bitcoin - Decentralised Solution; Trust in Mathematics and Cryptography - Worth $235Bln?

    There is a clear mispricing here between the PAST and the FUTURE
    — George Kikvadze (@BitfuryGeorge) December 30, 2017

Popular personality WhalePanda meanwhile went further, comparing Ripple’s ethos in terms of bonafide Blockchain qualities to notorious MMM scheme OneCoin.

    If you really believe Ripple, which isnt even a blockchain project, is the future of cryptocurrencies... then I have some Bitconnect and Onecoin to sell to you.
    — WhalePanda (@WhalePanda) December 30, 2017

Placeholder VC’s Chris Burniske and Blockchain technologist Preston Byrne also voiced concerns about the rate of XRP’s growth.

Source: https://cointelegraph.com/news/ripple-becomes-largest-altcoin-as-bitcoiners-issue-warnings

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[Snaic]

It seems to me that many can exchange short-term profits for the basic principles of decentralized crypto currency and we can slowly slide down to a digital currency that will not differ much from the usual currency, except by digital media. It's quite dangerous to have a Trojan horse in the camp of the crypto currency, launched by banks to destroy the crypto currency from the inside.

[Kakmakr]

Ripple = Anonimity Killer

Banks favor Ripple, because it is the closest solution to their "Police state" support to governments. They want total transparency for all transactions and centralized control and Ripple will bend over to all their needs.

The Bank whore of Crypto currencies. 

[wilhb81]

Ripple = Anonimity Killer

Banks favor Ripple, because it is the closest solution to their "Police state" support to governments. They want total transparency for all transactions and centralized control and Ripple will bend over to all their needs.

The Bank whore of Crypto currencies. 

Even though I'm not a huge supporter of Ripple, but I think your opinion was right with Ripple. Since Ripple is centralized and easy to be controlled by governments - that's why this alt coin rapidly gain its credibility and popularity.

[aso118]

The true blue cryptocommunity ignores Ripple. Those who are rushing to buy Ripple are those who have entered the crypto market chasing quick gains. This is a pump and dump scheme orchestrated by large players and will sooner or later crash. A lot of newbies are going to get hurt.

[veleten]

ripple is backed by banks,has nothing in spirit with decentralised cryptocurrency bitcoin is
it has been pumped and has beaten all the records recently in terms of the market capitalisation and price
but do you really want to support something that epitomises  what the cryptocurrencies
were built to escape? centralisation,grip on your financial jugular by the banks and total control
a step towards the electronic concentration camp

[Harlot]

Ripple = Anonimity Killer

Banks favor Ripple, because it is the closest solution to their "Police state" support to governments. They want total transparency for all transactions and centralized control and Ripple will bend over to all their needs.

The Bank whore of Crypto currencies. 

Even though I'm not a huge supporter of Ripple, but I think your opinion was right with Ripple. Since Ripple is centralized and easy to be controlled by governments - that's why this alt coin rapidly gain its credibility and popularity.

Well are you still thinking that we really need Anonymity for a global currency until now? Look at how governments of a country are in green lights to support Bitcoin but only in return is sacrificing its anonymity when it comes to their regulations. Anonymity is something we don't need if we want a virtual currency to succeed in becoming a global payment method, after all what will be the purpose of being an anonymous currency for a regular buyer? I don't imagine any purpose of it really.