Why I would never buy XRP

[Baimovic]

yes, I agree with your statement, but I do not see good progress on XRP. because I am afraid it will only give a little profit.

[bitminton]

and it is not decentralized . that is the 1 thing I dont like on xrp

[bbc.reporter]

Ripple is a payment network. Maybe a good one, I cannot tell.

SWIFT is a payment network.

Paypal is one.

SEPA is one.

XRP is not needed by the network, it does not constitute ownership in Ripple. It acts as a "lubricant" but can be replaced by another lubricant if needed. XRP owners have no vote.

Correct me if I am wrong but XRP is the only innate currency in the system in the middle of all those IOUs issued by the gateways that does not require counterparty trust, is it not? The Ripple users also pay all their fees in XRP correct? Also, they can only activate their wallets if they have the required base balance of XRP in them, right?

Then how can XRP be replaced without destroying all of the Ripple system?

[kang_kung]

1. XRP is not a cryptocurrency, it is a token issued by a private company on a private blockchain. No POS, no POW, just a private blockchain.

2. This means it was created from thin air, then sold to noobs around the world. 100% premined, mining difficulty = 0

3. even USDT is better: it is covered by real fiat, and mining is indirect (Omni blockchain) but it is also centralized. And because of that, Tether has already frozen USDT assets. Exactly like Ripple, Tether is the only fiat gateway to USDT.

4. Ripple has frozen assets twice and they will do it again.

Freeze 1: The original Ripple Trade web wallet was pushed to gatehub. They now hold funds hostage by asking for KYC. Using terrorist bullshit excuses.

https://gatehub.net/legal/terms

Similar scenario can happen anytime!!! Imagine North Korea or ISIS using Ripple to transfer money!! They will (be forced by US Govt.) freeze funds ASAP and require KYC from everyone or worse. This would result in an epic dump. Not because most people are criminals but because it will be EVIDENCE that they contol the funds.

Freeze 2: http://insidebitcoins.com/news/not-so-decentralized-ripple-freezes-1m-in-user-funds/31862

In order to “avoid and mitigate irreparable harm and damages” to the value of XRP, a Ripple Labs agent went on the Bitstamp gateway and placed an order paying $1,038,172 for McCaleb’s stash of XRP, according to a report by CoinDesk.

They even admit they can freeze assets anytime:

https://ripple.com/build/freeze/

The XRP Ledger gives addresses the ability to freeze non-XRP balances, which can be useful to meet regulatory requirements, or while investigating suspicious activity.

---------->>>>> don't you think XRP would drop like a rock, if a major "non-XRP" freeze is ever published?! How delusional can shills be?

5. Ripple network works fine without XRP. Ripple fanboys, so delusional, cannot understand this? OK. Imagine for a moment, XRP was needed. But XRP is expensive. And XRP is private blockchain. Why should Ripple be super stupid to use expensive XRP? They can create another private blockchain with another 100 000 000 000 tokens (I will call it Shittle STL) and just use STL for operations.

No public blockchain can do that, but Ripple can do it, from one day to the next.

Then you own useless XRP - but they are not a share. No voting rights, no ownership in Ripple Labs, nothing. STL will be private, used by banks, and Ripple, and you can do fuck all about it.


Good luck, you have been warned.

So many bag holder in XRP craze right now, somehow, I tend to avoid the craze because the price usually pumps up.

[Makkara]

1. XRP is not a cryptocurrency, it is a token issued by a private company on a private blockchain. No POS, no POW, just a private blockchain.

2. This means it was created from thin air, then sold to noobs around the world. 100% premined, mining difficulty = 0

3. even USDT is better: it is covered by real fiat, and mining is indirect (Omni blockchain) but it is also centralized. And because of that, Tether has already frozen USDT assets. Exactly like Ripple, Tether is the only fiat gateway to USDT.

You were just making a fool out of yourself till this point, but then i just stopped reading your non-sense...

[bigcash2011]

Nice points, thanks for sharing, i also do not like xrp for its centralized nature but traders and speculators have made good money from it as it has grown from a couple cents to a dollar in an year.

[defc0de]

Buy and ride the wave, then dump when you're happy with the profits haha

[Makkara]

You should also read https://ripple.com/dev-blog/decentralization-strategy-update/

[Archimedes]

Who the frack cares what or who Ripple is or if it doesn't act like a mainstream crypto. I bought a shed load of it at .20 and now its taking off. I'm buying all I can.

Sure, cut off your nose to spite your face. Good plan...

bingo

[jubalix]

1. XRP is not a cryptocurrency, it is a token issued by a private company on a private blockchain. No POS, no POW, just a private blockchain.

2. This means it was created from thin air, then sold to noobs around the world. 100% premined, mining difficulty = 0

3. even USDT is better: it is covered by real fiat, and mining is indirect (Omni blockchain) but it is also centralized. And because of that, Tether has already frozen USDT assets. Exactly like Ripple, Tether is the only fiat gateway to USDT.

4. Ripple has frozen assets twice and they will do it again.

Freeze 1: The original Ripple Trade web wallet was pushed to gatehub. They now hold funds hostage by asking for KYC. Using terrorist bullshit excuses.

https://gatehub.net/legal/terms

Similar scenario can happen anytime!!! Imagine North Korea or ISIS using Ripple to transfer money!! They will (be forced by US Govt.) freeze funds ASAP and require KYC from everyone or worse. This would result in an epic dump. Not because most people are criminals but because it will be EVIDENCE that they contol the funds.

Freeze 2: http://insidebitcoins.com/news/not-so-decentralized-ripple-freezes-1m-in-user-funds/31862

In order to “avoid and mitigate irreparable harm and damages” to the value of XRP, a Ripple Labs agent went on the Bitstamp gateway and placed an order paying $1,038,172 for McCaleb’s stash of XRP, according to a report by CoinDesk.

They even admit they can freeze assets anytime:

https://ripple.com/build/freeze/

The XRP Ledger gives addresses the ability to freeze non-XRP balances, which can be useful to meet regulatory requirements, or while investigating suspicious activity.

---------->>>>> don't you think XRP would drop like a rock, if a major "non-XRP" freeze is ever published?! How delusional can shills be?

5. Ripple network works fine without XRP. Ripple fanboys, so delusional, cannot understand this? OK. Imagine for a moment, XRP was needed. But XRP is expensive. And XRP is private blockchain. Why should Ripple be super stupid to use expensive XRP? They can create another private blockchain with another 100 000 000 000 tokens (I will call it Shittle STL) and just use STL for operations.

No public blockchain can do that, but Ripple can do it, from one day to the next.

Then you own useless XRP - but they are not a share. No voting rights, no ownership in Ripple Labs, nothing. STL will be private, used by banks, and Ripple, and you can do fuck all about it.


Good luck, you have been warned.

ALSO THE UNL, they can choose if you can be a processor, UNLIKE a POW or POS where anyone can join in.

This means processors are complete subject to not only government action, court writs but also corporate policy.

Its not a crypto currency.

[jubalix]

You should also read https://ripple.com/dev-blog/decentralization-strategy-update/

do you understand this is about the UNL issue, and the only way to decentralize is to make joining the UNL up to anyone, and permission less. they have given no way of doing this yet.

Thats one of the break through of hashing and pos minting. Anyone can join (though I accept hashing has become specialisef the point is it has is switched of other can choose to join, with the UNL you have to be added).


further look at what ripple say

https://ripple.com/insights/how-we-are-further-decentralizing-the-ripple-consensus-ledger-rcl-to-bolster-robustness-for-enterprise-use/

"This means the largest five pools working together could achieve a 51% attack and reverse transactions (double spend) at will. For Ethereum, this number is even lower: only three pools are needed for a takeover. To match Bitcoin, XRP Ledger would need just 16 trusted validators. Add more, and the number of tolerable faults increases accordingly. In other words, XRP Ledger will not just meet, but exceed the decentralization level of other public blockchains."

This is misleading because pool are composed of many many actors who can choose to withdraw hash, and new pools can arbitrarily form in a permissionless manner.

this side of the argument is completely glossed over.

what is Ripples plan to make to make the UNL permission less.

I think this is where dash will take out ripple, they can afford the hardware to brute force and be as fast as ripple, which is what ripple is kind of saying a UNL must be, high powered / speced hardware (and trusted).

a dash holder with 1000 Dash is incentivised to run good hardware and must be a good actor (once the  ping problem is solved if it has not already)

that said I don't know if Dash can scale.

A better example is probably NEM, where they appear to have 1000~4000 TPS already and masternodes. It maybe NEM overtakes ripple

[TehJoker]

Although I have not invested in XRP yet, I do not agree with point 5. The Ripple devs can't do that because of the trust. If not, they will lose the trust from the investors

[Bigzilla]

Maybe you are right, Im glad i didn't buy any XRP.

So you glad you didn't make any money?

[loreRex]

From investopedia:

Ripple is not finite, and can be “printed” on-demand, which makes it much more reliable for payment processing, money exchange, and other institutional activities. When it’s used, it’s simply destroyed.

The Ripple Foundation already created the 100 billion XRP currently in circulation, giving it a stable, non-volatile character perfect for its biggest clients. However, this also removes one of the biggest factors in any true cryptocurrency: the ability to accumulate and store value as only a deflationary asset can.

[...]

Much like the many questions surrounding bitcoin cash, even the founders of Ripple recommend not using their creation as a currency for speculation because it isn’t one. Ripple resembles a fintech platform more than anything else and has simply combined the best elements of fiat money and blockchain cryptocurrency.

[cryptocommoner]

Well I bought some Ripple today after watching it since beginning of December.  Feeling stupid that I didn't invest sooner, but I at least see it growing much more this upcoming year.  Considering that it will likely be on CoinBase soon, it will skyrocket rather quickly.

[wingfr]

Misinformed, Misunderstood, and Misguided.

That's all I can say.

#xrpthestandard

So true. And maybe jealous too.

Are you shorting on Ripple?

Should I start selling my ripple now because of you and this post ?? ... Thanks dude...

Don't give that much attention to Bitcointalk. Real cryptofans and investors know what to do.
If your decisions are based on a single forum thread, then you're burned

[admiralmutiny]

Totally agree, when I saw it was run by big banks I knew to stay away. When I saw there was no wallet, or that there was one at some point, but it was being hidden. Now I see it going up and it just pisses me off. I saw the CEO on CNBC and after that attention it goes up 50% in a day, they are just draining the market with noobs money.  It goes against the entire purpose of the digital revolution to buy that shit.

[IgniHash]

Hi man, thank for your warning. But unfortunately, today Ripple overtook Ethereum by market capitalization. Ripple is for banks. if Ripple wins, banks win. Hope ethereum can beat ripple again. When Ripple falls it's going to fall hard.

[admiralmutiny]

Well if you ar XRP mod why don't you answer this guys question about why it costs almost $40 to open an XRP wallet?

https://www.reddit.com/r/XRP/comments/7mugth/activate_ripple_desktop_wallet_which_i_downloaded/


"Unlike Bitcoin wallets which are free, Ripple wallets require you to have 20XRP to book your wallet address.

So if you add 1000 XRP to your Ripple wallet, 20XRP will be used to book the wallet address. This is one reason you don’t want to use multiple wallets for XRP (unless required).

Pick the right wallet from day one so that you don’t end up losing 20XRP on various wallet addresses."

[ajqjjj]

Hi man, thank for your warning. But unfortunately, today Ripple overtook Ethereum by market capitalization. Ripple is for banks. if Ripple wins, banks win. Hope ethereum can beat ripple again. When Ripple falls it's going to fall hard.

Now here people like you and him warning on investing ripple but this thread has been created few weeks ago. Many people might stop investing on this coin. I see my friend also who invested on ripple and bought the 1000 xrp with the fund he saved with him.
I see many banks only acquiring the ripple payment option in the world. I think as you said this coin is for bankers only not for the normal crypto users.