Ripple is a Trojan Horse

[anticonformist]

Ripple is centralized and not a crypto currency. Not going to type out an essay explaining the technical reasons why ripple is centralized, and most people on this forum probably know anyway and there’s tones of info and articles all over the net for those who want to know, here’s one https://blog.bitmex.com/the-ripple-story/

Question: So what will happen to the cryptocurrency market if Ripple becomes the biggest, most dominant and widely distributed and used network/cryptocurrency?
Answer: We will lose control of the market and our one chance at a decentralized currency.

Question: Money is controlled by people, so do you think those people are going to give up that control?
Answer: No.

Question: So, if a new form of money outside of their control is invented which is a threat to them what are those people going to do?
Answer: Try to control it.

Question: How?
Answer: I think they must invent another “cryptocurrency” to control the market.

Question: What types of characteristics should this cryptocurrency exhibit?
Answer: Centralized. Controlled. Heavily funded. Backed with the support of big banks etc.

Question: What will happen if the attitude of people are like “I don’t give a fuck man, as long as it keeps going up, lambo time”
Answer: You will have contributed directly to all future generations including your own children of not having freedom.

Question: So if you don’t believe Ripple is the Trojan Horse then you have to believe either:

A: The people who control money don’t want to control it anymore.
B: Another cryptocurrency is a Trojan Horse.

Question: There MUST be a cryptocurrency being used for control, so what cryptocurrency do you then suspect of being a Trojan Horse?

[BitcoinHodler]

this market exists only because people were interested in decentralized currency (that is bitcoin) which is why bitcoin is dominating the market and has full control of all of it despite the market capitalization of shitcoins growing bitcoins still dominates more than 95% of the market.
you can't  compete with that with a centralized shitcoin with 100 billion supply all of which was premined.

so far if you look at the market and how people have been reacting to centralized coins such as Ripple and a lot of other top coins like ETH, BCH, DASH... you can clearly see that they are purely interested in them from a profit making perspective and that "interest" lasts only during their pumps. and as soon as they start their dumping process, all of those people abandon it just as fast as they got on board.

[GhostWithin]

That's right.

The transfer of bank assets to the world of cryptocurrency is the ultimate goal of Ripple. And, of course, it's not advertised.

Banks will not give control over money to anyone under any circumstances, neither governments nor crypto-enthusiasts.
The true owners of the money are preparing to end up above the process and half the work has already been done.

And do you know what is the saddest thing in this story? That this is understandable to many, but no one will do anything

[anticonformist]

BitcoinHodler: Quote "bitcoins still dominates more than 95% of the market"

But that's not true, bitcoin is currently at 50.5%. So only half of the market is currently dominated by BTC.

Bitcoin went from about 84% dominance on March 10th 2017 - 32% dominance January 15th 2018. At this same time Ripple Trojan coin also hit 17% dominance.

The point is if Ripple surpasses Bitcoin dominance.... its all over

https://coinmarketcap.com/charts/#dominance-percentage

[bttmember]

I know vast majority of crypto community somehow against ripple as a project and they have their argument that ripple is not fully decentralized and it is being run like a centralized corporate company evej if we accept this argument still i see ripple really developing and growing and it seems a very proactive project with active deals and partnerships with other businesses and institutions i think ripple will go a long way in coming years but i do not think it will be able to take number one spot ever.

[||bit]

I think the same. Ripple is everything against what crypto stand for.

Also, it has not a big use. Just a very limited use and a very shady company behind it. I always choose to avoid it.

[rolik2001]

There are not any fully decentralized coin, bitcoin is also partly centralized. If we speak about top 10 cryptocurrencies, there are eos,bch,bnb which can stay a new trojan horse.

[palle11]

Ripple can only be called a Trojan horse because it gains support being a centralized coin, it is controlled and manipulated. That is the reason it looks like it always follows as price moves.

[indoagung88]

That is one reason for me not to save Ripple in the portfolio. If many people have interpreted that ripple is a centralized (controlled) coin, then is that including cryptoccurrency? Maybe the answer is NO. I don't want to comment and just know.

[ZloiRediska]

I do not understand why so much negativity towards this project? It seems to me that ripple is a very interesting and promising project. Yes, I agree maybe there is no need for a level of decentralization. but I believe that ripple has the best chance of becoming the new world reserve currency.

[anticonformist]

Just the fact that....

When Ripple was founded, it created 100 billion XRP tokens of which 80 billion tokens were allocated to the company and 20 billion were given to the three founders, IMO makes it worse than the federal reserve

Here is an approximate breakdown of the distribution of those tokens:

The Ripple company received 80 billion XRP.
Chris Larsen received 9.5 billion.
In 2014, Larsen committed to put 7 billion XRP of this 9.0 billion into a charitable foundation.
Jed McCaleb received 9.5 billion. Upon leaving Ripple:
McCaleb retained 6.0 billion (subject to lock up agreement).
McCaleb’s children received 2.0 billion (subject to lock up agreement).
1.5 billion was given to charity and other family members of McCaleb (not subject to lock up agreement).
Arthur Britto received 1.0 billion (subject to lock up agreement).

[alexsandria]

Then I sense if ripple will going to be the best crypto in the market, knowing that it is centralized and controlled somehow by huge entities, then the real essence of cryptocurrency which is the anonymity and efficient transaction without the need of a third party will just vanish. Also, I think investors and the blockchain transaction list states about whales buying and accumulating huge volumes of ripple is in fact, a result of lowering the risk that they are taking in the market.

[Adriano2010]

I really don't like ripple, i read a lot of review and some people here who invest on crypto but not in ripple, say that the admin "devs" of ripple create extra supply of ripple to have for their monthly expenses, and this is not good as someone can create extra coins when they want, at least i not like how they works.

[coinplus]

Thankfully there is no chance ripple ever hitting that number one spot, hell even at the second or third spot they are not comfortably there, Ripple as a company spends way too much of their income to keep the XRP high by buying it low and than trying to sell at high basically manipulating the price as much as they can while losing as little as possible. Since they own a bunch of XRP themselves and rule the market single handedly it is riskier than an ICO that basically gives %90 control to the owners.

All they have is the idea that one day banks and financial institution will use XRP to move money which will make XRP prices go high but those companies are not idiots and working towards their own blockchain solutions so XRP will be gone sooner rather than later.

[ashmodeus]

I do not understand why so much negativity towards this project? It seems to me that ripple is a very interesting and promising project.

because XRP is no rather than money game for me , XRP created for alternative way of payment for the banking system.

Yes, I agree maybe there is no need for a level of decentralization. but I believe that ripple has the best chance of becoming the new world reserve currency.

now , you are drunk, basicaly crypto currency was created for mission alternative payment system between users without the need of a third party
and you say u dont need a decentralization. so what btc created for ?

[pinoycash]

I have been using Ripple(XRP) for 2 years now and i haven't experience any problem in using them to send and receive money from my friends.

It confirms fast, less than 1 minute my XRP is readily spendable. So i don't see why there's so much hate and negativity on XRP as a cryptocurrency. It generally serves it purpose as a mode of payment.

[tk808]

XRP is the king of scamcoins, it's not a crypto.

One day you'll wake up and see 100 billion more XRP added to the total supply, why? because it's not a crypto, it's a centralized scamcoin.

[elitemobb]

The main idea of cryptocurrency is decentralization and that is why it attracted so many users. If you remove this feature, then why is it needed? In fact, we already have areas of activity in which there is a control.

[anticonformist]

I am imagining what could happen if the near future if the entire monetary system collapsed (pretty good chance it will soon) and fiat was worthless and banks insolvent....I think the banks will say, ok we all need to move to a new world currency, its called ripple, we've trialed it for a few years, its all good, sign these bank papers accepting the conversion rate for your account savings or loose everything. In times of a massive world financial crisis the average person having no knowledge and understanding of decentralized systems would just accept it.

[BitcoinHodler]

BitcoinHodler: Quote "bitcoins still dominates more than 95% of the market"

But that's not true, bitcoin is currently at 50.5%. So only half of the market is currently dominated by BTC.

Bitcoin went from about 84% dominance on March 10th 2017 - 32% dominance January 15th 2018. At this same time Ripple Trojan coin also hit 17% dominance.

The point is if Ripple surpasses Bitcoin dominance.... its all over

https://coinmarketcap.com/charts/#dominance-percentage

that is NOT called "domination", just because a website is using that term doesn't make it right!
dominating the market means having the highest volume, being the only coin that everyone knows, being the only coin that people trust and have faith in its future, more importantly the only coin that is not a pump and dump and also the only coin that is actually being used for trading others (there is only two real pairs in the market altcoins versus fiat and altcoins versus bitcoin). and that means DOMINATING the market.

otherwise market capitalization is just a fake number that can easily be manipulated. for example take Ripple that has the second or third highest market cap. it is 100% premined and majority of its supply is controlled by its centralized creators but you still use all that fake supply in calculation of its market cap and as a result you get a huge number and call that market cap of Ripple and then rank it up thinking it is actually high rank and dominating!
if you remove fake supply of all the 2500+ altcoin you will see that bitcoin's market cap / 2500+ altcoin market cap is about 90% not 50% that is currently being reported.