Why Ripple Is Hated By Crypto Community?

[Olatunjex]

After 2 Years In Crypto Space  I Realize That Most Hated Coin Is Ripple (Other Than BSV).

My Question Is Why? I Didn't See Anything Wrong With Them, They're Kinda Centralized And Was Created For The Bank And They Mention It Clearly.

Is It Because They Cooperating With bank(It Kinda Destroy The Purpose of Crypto)?

Is It because They're Centralized?

Is It Because Their Consensus Protocol Still Rely on trust?

What Is Your Opinion?

There are criticism against ripple that rippled is a centralised coin and also the cooperation with banks has destroyed thr purpose of crypto, crypto suppose to be a decentralized coin.

[fulled]

because its centralized, people is tired with the idea of centralized monatary or banking system, they want to have the freedom for their assets/money thats why ripple and the latest libra hated by crypto community

[InwardContour]

I personal disagree with those who counter ripple. I think cross boarder payments is a good thing, let's leave sentiment and focus more on the common goal to mainstream adoption. Corporaring with banks doesn't make ripple irrevelant, but the reverse is true. Now many are clamouring for Facebook coin, don't you think it's even more centralized than ripple in all ramifications, yet still helps in attaining adoption. Ripple isn't my best altcoin project but I'm really impressed with their products, so I have nothing against it.

[Farul]

Well The Most Of Opinion here, Say That Crypto Community Hated Ripple Because They Work With The Banks, Which Kinda Destroy The Purpose Of cryptocurrency.

IMO, In The Early day Of Crypto, Working With The Bank May Sound Like A Good Idea, Since It Will Make It Easier For New Person To Get On Crypto.

The One Thing That I Hated Mostly About Ripple, Is How The XRP Is Shared Between The Founder Team(They Control About ~20% Of Total Supply). And That The Ripple Labs Held All Of Unreleased Ripple(To Be Sold, Not Giving It Away like Stellar Does).

[Tipstar]

My version is such that a lot of people don't like XRP because this coin is used by banks all over the world, maybe I'm wrong

Yes you are wrong. NO banks around the world uses XRP. They did have some deal with a few banks to try Ripple as mode of interbank transfer but that never went forward rather than some pilot period. No large banks are even interested in Ripple and they are purely just an speculative tokens.

[motienvolam]

There are a few main reasons that made Ripple is one of the most favorite and hating coins in Crypto:

• Ripple is a centralized crypto currency
• Ripple has so many pumps and dumps in its history, so far. Consequently, there are so many investors whom still stucked at extremely high prices at which they bought Ripple (due to FOMO). Some of them already took losses, some of them still hold their Ripple wiht hope to see it will come back to its all time high range
• Some of them have their balance liquidated when using margin tradings with Ripple (due to pumps and dumps)

[basicnecromancycr]

I'm not sure whether it's really hated or not since the position of Ripple on the market cap doesn't demonstrate a majority hate towards it.