Ripple co-founder FUDs Ripple

[beachbummer]

Jed McCaleb, co-founder of Ripple, seems to want to set lower expectations for Ripple as he comes out to say that decentralisation is important in the success of a cryptocurrency. That would seem like a strange statement from him because Ripple is not decentralised. Perhaps he knows something that has yet to be announced yet? After all, he even says that Ripple will be competing against SWIFT and PayPal, both of whom are well established.

He then tries to play up the chances of Stellar, but unfortunately most of the attention will be on his comments towards Ripple.

https://www.cryptoinfomag.com/2018/03/25/ripple-co-founder-says-ripple-is-missing-a-critical-success-factor/

[Crypdon]

He is right, ripple is centralised and has already been pumped and dumped. Any decent bank who is interested in blockchain technology will simply create their own tokens to trade with. Why use a currency that someone else controls and has proven to be unstable during turbulent periods?

[chesatochi]

I read recently one of the major drawbacks of Ripple is that banks can drop the tokens and create one on their own. Also, a vast supply is controlled by a central entity!

[Adunni6758]

I think the issue of decentralization has long been announced since May of 2017 where Ripple announced its preliminary strategy to increase decentralization and ensure that no single entity has operational control of the XRP Ledger. It is likely the first phase has been actualized, which involves migration to the use of validator manifests, improvement on validator security, and the publishing of a recommended Unique Node List (UNL) using the new Dynamic UNL infrastructure. The second phase might still be in the process. In no time the decentralization might be actualized.

[anti-scam]

Bank Indonesia secretly cooperates with this ripple contrary to the prohibition of Bitcoin use in the country.
There are indications Rupah will use blockchain technology in the future.
one good plan, but I'm not sure ripple will have a great community there.

[ðºÞæ]

He is right, ripple is centralised and has already been pumped and dumped. Any decent bank who is interested in blockchain technology will simply create their own tokens to trade with. Why use a currency that someone else controls and has proven to be unstable during turbulent periods?

Banks do create there own token. There is project ubin and another one i forgot the name.
If a price is all over the place its unworkable, Banks need stable price to work with.

https://www2.deloitte.com/content/dam/Deloitte/sg/Documents/financial-services/sg-fsi-project-ubin-report.pdf
R3 used to be in Ripples camp and now they are part of project ubin

[fetokun]

The thing that makes the blockchain technology a success is the decentalized nature of it. And Ripple doesnt has that single most important feature. Without decentralization why not just use a database? And with Stellar in the equation, it threatens the Ripple market.

[Igromania]

The thing that makes the blockchain technology a success is the decentalized nature of it. And Ripple doesnt has that single most important feature. Without decentralization why not just use a database? And with Stellar in the equation, it threatens the Ripple market.

I am 100% sure that nobody will need ripple soon. I do not understand those people who believe in ripple and invest money in it.

[sunX3]

He is right, ripple is centralised and has already been pumped and dumped. Any decent bank who is interested in blockchain technology will simply create their own tokens to trade with. Why use a currency that someone else controls and has proven to be unstable during turbulent periods?

I assume they'd want to use it for the convenience factor. Not a lot of banks have much crypto knowledge, so simply adopting a coin instead of making their own sounds faster and easier.

[bitcoinman93]

Jed McCaleb, co-founder of Ripple, seems to want to set lower expectations for Ripple as he comes out to say that decentralisation is important in the success of a cryptocurrency. That would seem like a strange statement from him because Ripple is not decentralised. Perhaps he knows something that has yet to be announced yet? After all, he even says that Ripple will be competing against SWIFT and PayPal, both of whom are well established.

He then tries to play up the chances of Stellar, but unfortunately most of the attention will be on his comments towards Ripple.

https://www.cryptoinfomag.com/2018/03/25/ripple-co-founder-says-ripple-is-missing-a-critical-success-factor/

we have known for long that ripple is centralized currency, it's not a surprise. Coming it from month of McCaleb is surprising though, I guess he simply has some other projects to focus on

[Tankdestroyer]

I assume they'd want to use it for the convenience factor. Not a lot of banks have much crypto knowledge, so simply adopting a coin instead of making their own sounds faster and easier.

I assume no banks would ever want to use something that is not CENTRALIZED AND CONTROLLED BY THEM meaning that they will not use something that is controlled by another entity(most of them). They would prefer security over convenience thus they will create a coin of their own(centralized and fully controlled by them) for more security. Even if tehy don't have that much knowledge in crypto, they can just hire an expert.

[manlyxman]

I assume they'd want to use it for the convenience factor. Not a lot of banks have much crypto knowledge, so simply adopting a coin instead of making their own sounds faster and easier.

I assume no banks would ever want to use something that is not CENTRALIZED AND CONTROLLED BY THEM meaning that they will not use something that is controlled by another entity(most of them). They would prefer security over convenience thus they will create a coin of their own(centralized and fully controlled by them) for more security. Even if tehy don't have that much knowledge in crypto, they can just hire an expert.

You're probably right and correct me if I'm wrong but, haven't some banks alread adopted ripple? In China or elsewhere. I'm not sure but I think I remember reading something about that.

[chocolaty]

Well at least he is being honest. Practically, banks will not settle on XRP if they are capable of creating their own token. Creating their own will make it remarkable. It's up to them if they will patronize a coin that isn't theirs - the only advantage is that it will be quick and easier. Nevertheless, good for them because the co-founder was not biased at all.

[ultrloa]

I assume they'd want to use it for the convenience factor. Not a lot of banks have much crypto knowledge, so simply adopting a coin instead of making their own sounds faster and easier.

I assume no banks would ever want to use something that is not CENTRALIZED AND CONTROLLED BY THEM meaning that they will not use something that is controlled by another entity(most of them). They would prefer security over convenience thus they will create a coin of their own(centralized and fully controlled by them) for more security. Even if tehy don't have that much knowledge in crypto, they can just hire an expert.

You're probably right and correct me if I'm wrong but, haven't some banks alread adopted ripple? In China or elsewhere. I'm not sure but I think I remember reading something about that.

Never heard any of that but if you care to share that information then maybe we may have a basis to believe that the founder starting to fud this up and if this one is true then provably we can earn with it if ripple get back for 1$ and above again. But lets pressume that scenario will really came since xrp is no shit coin.

[leavolnhals]

Jed McCaleb, co-founder of Ripple, seems to want to set lower expectations for Ripple as he comes out to say that decentralisation is important in the success of a cryptocurrency. That would seem like a strange statement from him because Ripple is not decentralised. Perhaps he knows something that has yet to be announced yet? After all, he even says that Ripple will be competing against SWIFT and PayPal, both of whom are well established.

He then tries to play up the chances of Stellar, but unfortunately most of the attention will be on his comments towards Ripple.

https://www.cryptoinfomag.com/2018/03/25/ripple-co-founder-says-ripple-is-missing-a-critical-success-factor/

wow, that's the sign of the downfall of the ripple. But why did Jed McCaleb announce bad news about the ripple while he was working on the ripple? This is a strange thing, no one wants his business to die by himself. I think this is just a fake and just an excuse for the price of the ripple to go down.

[rijaljun]

dont shout "banking without bank!" if you still use ripple, because is just another product of banker. and we all know how bank will treat us.

[JuniAiko]

Jed McCaleb, co-founder of Ripple, seems to want to set lower expectations for Ripple as he comes out to say that decentralisation is important in the success of a cryptocurrency. That would seem like a strange statement from him because Ripple is not decentralised. Perhaps he knows something that has yet to be announced yet? After all, he even says that Ripple will be competing against SWIFT and PayPal, both of whom are well established.

He then tries to play up the chances of Stellar, but unfortunately most of the attention will be on his comments towards Ripple.

https://www.cryptoinfomag.com/2018/03/25/ripple-co-founder-says-ripple-is-missing-a-critical-success-factor/

wow, that's the sign of the downfall of the ripple. But why did Jed McCaleb announce bad news about the ripple while he was working on the ripple? This is a strange thing, no one wants his business to die by himself. I think this is just a fake and just an excuse for the price of the ripple to go down.

Because Jed McCaleb (the genius/brains behind the Ripple network) had already left the Ripple company after falling out with the other top-executives due to differences in vision that he has.
He then moved on to create the Stellar network from scratch, an improved version of his idea/design for Ripple, based on what he had learnt when he built the Ripple network that have now been taken over by the corporate minded executives.

Ripple is a for-profit company servicing the "too-big-to-fail" banks; while Stellar is a non-profit organization aiming to bank the unbanked (starting their adoption push in developing countries) -- functioning as a decentralized bank for the people rather than servicing centralized for-profit banks with money-sucking executives and CEO.

Stellar is also tightly partnering with IBM, and which is now part of the NEO mega-ecosystem too (together with Ontology, Elastos, OnChain, and so on..).

Stellar also now has its own DEX and can support ICOs too.

[i40u]

And how it can be decentralized if he originally created structures that wanted to enter the market and start to control it. Bankers don't need it.