[2018-07-27]Charlie Lee: Bitcoin to Gold, Litecoin to Silver and XRP to Diamonds

[vy99]

I can't bring myself to touch XRP. I just cannot wrap my head around it. It's incomprehensible to me.

The diamond comparison is on the money. I see more appealing rocks every time I go to the beach yet De Beers have managed to fool people into handing over lord knows how much for them for years on end.

XRP speculation is so silly — one only needs a tiny amount to fund a lifetimes worth of transactions. And that’s all it’s good for: burning for fees. It really goes to show you how little investors understand Ripple. It’s basically a debt-underwriting system where you extend certain amounts of trust (credit risk) to other people, where XRP is a spam deterrent.

XRP on the whole is problematic. Just on the basis that it's centralized and run by financial institutions makes it go against everything that Bitcoin was originally created for.

I can accept other altcoins when they stick to the concept of decentralization but XRP is the fakest "cryptocurrency" out there.

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[1Referee]

I can accept other altcoins when they stick to the concept of decentralization but XRP is the fakest "cryptocurrency" out there.

It's funny how decentralization is such a selling point of this space, yet barely any coin actually offers that. XRP is just as centralized as any other altcoin or token in crypto land.

The problem with crypto in general is that every coin or token has a face, which is a massive point of failure, but noobs don't seem to care as long as they see their investment start paying off. These ignorant assholes are the sole reason utter crap coins have value, and the sole reason legitimate projects don't stand a chance to bloom.

In other words, it's just as bad as the legacy economy where governments use regulations to effectively eliminate potential competitors for their lovely monopoly elitist businesses.

[vy99]

I can accept other altcoins when they stick to the concept of decentralization but XRP is the fakest "cryptocurrency" out there.

It's funny how decentralization is such a selling point of this space, yet barely any coin actually offers that. XRP is just as centralized as any other altcoin or token in crypto land.

Oh I absolutely agree with that and I roll my eyes whenever someone supports a centralized altcoin, it's just that XRP is the most prominent one and the one with the most fervent fans...but to me the whole idea of a centralized cryptocurrency goes against everything that Bitcoin was originally intended for.

The problem with crypto in general is that every coin or token has a face, which is a massive point of failure, but noobs don't seem to care as long as they see their investment start paying off. These ignorant assholes are the sole reason utter crap coins have value, and the sole reason legitimate projects don't stand a chance to bloom.

Also agree with this, I've said it before on here but the world of cryptocurrency has evolved from its original concept of being a digital decentralized currency to a get-rich-quick investment for people to apparently buy Lamborghini's. The whole crypto world is topsy turvy right now.

[gentlemand]

Also agree with this, I've said it before on here but the world of cryptocurrency has evolved from its original concept of being a digital decentralized currency to a get-rich-quick investment for people to apparently buy Lamborghini's. The whole crypto world is topsy turvy right now.

The joys of permissionless tech. The only way for it to develop beyond an absolute shitshow is to let the shit run free until it dries up. Eventually people will figure out what's worthwhile and important. There'll be a lot of dead bodies in its wake but it's the fastest way to achieve it.