[2018-07-04] Ripple Keen on Meeting SEC’s Decentralization Requirements

[bbc.reporter]

I will not be close to shocked if this news article was paid for by a Ripple supporter or someone from the Ripple PR division. Ripple will never be decentralized. They choose who to include to become validators to their unique node list, centralized. They control the distribution of XRP, centralized. I reckon the development also is controlled by only Ripple itself and some of the code is closed source, centralized.

Centralized. XRP is a security.



Not only is Ripple providing solutions to banks but they are walking the talk implementing their decentralization strategy.

On the development front, Ripple is implementing their decentralization strategy and a few days ago, they added four third party Validators to their Unique Node List (UNL). This means, in line with their May 2017 declaration and “independence” drive, Ripple needs to add 13 more Validators to their network to achieve total decentralization cancelling out Ripple Lab hold of the XRP validation network. Of course, this is good news and with it talks or even rumors of decentralization would fade.

Read in full https://www.newsbtc.com/2018/07/04/ripple-xrp-technical-analysis-2/

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[bbc.reporter]

Ripple should also hurry up if they do not want their exectutives to go to prison for issuing illegal securities hehehe. There are now 3 lawsuits accusing them of securities fraud made by private XRP investors.

In any case, I reckon there will be no guarantees if their efforts to make Ripple appear decentralized will work.



For the third time in less than two months, a fresh lawsuit has been filed against the founders of Ripple Labs, the company behind the cryptocurrency Ripple (XRP). The plaintiff alleges that the defendants have made money by breaking state and federal securities laws and misleading the public through the sale of unregistered ripple tokens (XRP).

Plaintiffs are asking for a refund as well as damages, and allege organizers sold unregistered securities under California’s Corporate code.

The plaintiff detailed in his filing all signs point to XRP being a security, which requires the company to disclose certain information to investors, including potential risks. Citing that 20 billion tokens were given to Ripple Labs’ founders and 80 billion to the company itself, he alleges that the defendants earned massive profits by quietly selling off this XRP to the general public.

Read in full https://www.financemagnates.com/cryptocurrency/news/ripple-founder-hit-with-yet-another-us-lawsuit-sued-for-securities-fraud/

[Kakmakr]

Ripple has been a Bank Bitch from the start. They will bend over for any government, just to get their foot in the door and to survive. I refuse to buy any Ripple, because they are "Banks" in sheep clothing.

Yes, some regulation is necessary to protect consumers, but Ripple is taking it to a much higher level. To me they are the Judas of the Crypto currency scene. 

[1Referee]

It doesn't matter what Ripple does, they don't have the support of the community and won't ever have. If you see how many deals they managed to settle, which is actually quite impressive, but failed to have it translate into XRP to increase in value, it should be a clear enough signal that this token and the company behind it won't be able to convince the market to jump on it.

Litecoin time on time again beats XRP in volume, and that while this coin doesn't really have much of a purpose or active team behind it pushing for adoption. In other words, people don't give a shit about XRP.

[cryptofonia]

It seems that Ripple idea "XRP is not security" is overdriven. When institutional investors come to market then these investors accustomed to deal with securities will be more inclined to purchase crypto securities instead of "simple crypto".