XRP - The 2nd Biggest Scam in Digital Currency History

[tk808]

The day of reckoning has finally arrived and this is should be liberation for all legitimate cryptocurrency teams out there. Ripple set out to create a remittance platform under the pretense of being a "cryptocurrency" when in fact, XRP has never and will never be a cryptocurrency. It's a centralized ponzi scheme that has been reportedly going on for 7 years, since 2013. I and many others have been calling out this scam for years now. Anyone halfway serious and understands crypto, knew this day was eventually coming and should be rejoicing.

To those who've been seeing XRP shills fill this board for years, in the comments and making threads, on social media and etc, just know that the vast majority of these accounts are manipulated bots and guerilla marketing teams that have been pumping their scam for years.

Altcoin markets took a very short shock, but since have all but recovered and will quickly resume their pace with Bitcoin. XRP in fact, had an insignificant impact on the crypto markets and any markets impacted will soon recover. This is a day you shouldn't fear, but should rejoice at the cleansing of scam coins from the broader market.


The biggest scam, which will cause a shock to crypto markets (for better or worse, capital flight will fly to other stablecoins and or back to Bitcoin) is Tether, USDT. This is the next monstrosity that will be targeted in the near future and will have a direct impact on all crypto, but it's long overdue. Tether prints billions of dollars and is the single most obscure and least transparent of any stablecoin, even moreso in the last 2 years when it overthrew XRP for the top spot.
 

As you can see on display in this thread, the botnet and puppet network of XRP's marketing is in full-force mitigating the damage. 0 Rep, Spammy, New Accounts.  

Nice list by Tash: https://bitcointalk.org/index.php?action=profile;u=477706

Lets look at some of the facts of this piece of crypto junk
    • Ripple Inc sued by xrp investors and process ongoing
    • Ripple Inc in trouble with SEC
    • XRP validator operating nodes transmitting money without a license (will have legal issues at some stage)
    • Marketcap is wrong, the real Marketcap is the sold XRP for which tax has been paid for
    • xrp genesis ledger is Number 32570 and not 0 like any proper coin
    • Ripple Inc has contingency plan to become a software company if xrp fails
    • Contract agreements only affect Ripple and have nothing to do with xrp.
    • From  technical perspective a single xrp works as well as 100 000 000 000
    • It is 100% centralized as one company and only one company sells and controls all supply
    • Banks have and will make the own tokens (Banks dont pay fees...they collect)
    • Only a handful of people hold third of all XRP
    • Ripple gifts XRP's or bribes “partners”, crackpots sent money to get some
    • Circulating supply has decreased from time to time, what a joke
    • Out of thousands of coins only 2 have ever been hacked (XRP, XLM)
    • Dev was gifted 1 Billion XRP for loosing part of the database
    • Ripple Inc have previously been fined
    • Ripple manages are a massive financial burden (overhead)
    • Ripple INC investors and XRP gamblers are at opposite ends, one provides/finaces the money for the other
    • Hostile takeover, yes possible with Ripple Inc
    • 50% of circulating supply got released on a single day August 2014
    • How much does it cost to make a XRP (the real price of a product)

Satoshi more than a century ago https://bitcointalk.org/index.php?topic=57.msg415#msg415

"the price of any commodity tends to gravitate toward the production cost" and "in later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around".

Selling an ordinary apple for $100 is a scam

Source: https://bitcointalk.org/index.php?topic=5302931.msg55993973#msg55993973

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[kindbtc]

I would not call xrp a scam but I do agree with the criticism that they have been facing for years and unfortunately they have not taken any sort of action what so ever to solve the issues that were pointed out as a result of the criticism. I think even now if they somehow get clearance from SEC they should work on the resolution of the critical aspects.

[Zeehaxan]

The day of reckoning has finally arrived and this is should be liberation for all legitimate cryptocurrency teams out there. Ripple set out to create a remittance platform under the pretense of being a "cryptocurrency" when in fact, XRP has never and will never be a cryptocurrency. It's a centralized ponzi scheme that has been reportedly going on for 7 years, since 2013. I and many other's have been calling out this scam for years now. Anyone halfway serious and understands crypto, knew this day was eventually coming and should be rejoicing.

To those who've been seeing XRP shills fill this board for years, in the comments and making threads, on social media and etc, just know that the vast majority of these accounts are manipulated bots and guerilla marketing teams that have been pumping their scam for years.

Altcoin markets took a very short shock, but since have all but recovered and will quickly resume their pace with Bitcoin. XRP in fact, had an insignificant impact on the crypto markets and any markets impacted will soon recover. This is a day you shouldn't fear, but should rejoice at the cleansing of scam coins from the broader market.

Next on the list, which will cause a shock to crypto markets (for better or worse) is Tether, USDT. This is the next monstrosity that will be targeted in the near future and will have a direct impact on all crypto, but it's long overdue. Tether prints billions of dollars and is the single most obsecure and least transparent of any stablecoin.  

The thing that i disliked about xrp was that team was holding billions in supply which was never a good thing for investors and holders because they can dump whenever they want and infact they had accepted ocassionally that they sold big chunks in the market. Now the situation ahs got worse for xrp and only time will tell if they will be able to survive from here or no.

[mersal]

Centralized means should not be trusted with our money, even though XRP is still standing I don't think there are people who are interested in holding that coin which can be realized with the current price even when the crypto market is in a bullish state for a very long time with its ATH.

[pealr12]

Investors of this coin will not be happy with this current bitter situation with ripple, see how price of xrp has dump so hard, I really felt for those who bought high just because of the airdrop,
Many people always sees xrp as scam project and many don't believe (including myself) because it is hard to believe, being in top 3 on cmc is not a joke.

[pungopete468]

I'm not really into technical sides of the cryptocurrency but I was curious about the XRP to be called a scam I want to know how it became a centralize and the likes, I'm pretty aware though of the USDT honestly I didn't hold USDT longer than 24 hours since I'm a little paranoid about that coin.

[smyslov]

7 years is such a long year for a project to get exposed, if XRP is going to go down, there will be cleaning up that is going to happen after XRP but definitely XRP is a big fish and this will send warning signs to new projects that are coming out, this will have a negative and positive effect on the community and this is a news worth following and let's see how it's going to impact the market.

[tk808]

7 years is such a long year for a project to get exposed, if XRP is going to go down, there will be cleaning up that is going to happen after XRP but definitely XRP is a big fish and this will send warning signs to new projects that are coming out, this will have a negative and positive effect on the community and this is a news worth following and let's see how it's going to impact the market.

That's incorrect. SEC has been cleaning up the scams and corruption for ICO's that launched in 2017-2019, since 2018-ish. Did that stifle innovation and startups? No, it helped legitimize the industry further. A lot of those scams disappeared entirely. The new breed of ICO is DeFi tokens, in which will equally get hit has hard as ICO's, but is significantly more tricky due to being highly decentralized.

XRP is a major exception. They have as much authority to go after Ethereum if they chose to, but this is virtually an impossibility. XRP is not a crypto, not a blockchain, it's one big manipulated scheme to fool user's and individuals into buying and investing into their centralized scamcoin, in which they hold billions of XRP. No accountability, no transparency no nothing.



Again, XRP being sued is nothing but positive news. Unfortunately, there are many who are tricked, fooled and misled into thinking otherwise.

[Shussainshah]

xrp situation is very bad but we need to wait because xrp is the 3rd highest currency in crypto market we don't be panic in the situation and don't be blame too fast I personally believe xrp will recover herself very fast in the alts bull run in the next year

[tk808]

xrp situation is very bad but we need to wait because xrp is the 3rd highest currency in crypto market we don't be panic in the situation and don't be blame too fast I personally believe xrp will recover herself very fast in the alts bull run in the next year

These are the classic XRP shills/botnet that have been spamming these forums and all outlets for years by the way. The single most intricate and aggressive marketing agencies & individuals of any crypto.

[Bergluft]

Again, XRP being sued is nothing but positive news.  

In the longer run it will probably turn out to be positive news for ripple as well. they will probably settle the dispute with the SEC, pay a hefty fine and move on...without a big cloud of uncertainty above them.

[Bergluft]

Again, XRP being sued is nothing but positive news.  

In the longer run it will probably turn out to be positive news for ripple as well. they will probably settle the dispute with the SEC, pay a hefty fine and move on...without a big cloud of uncertainty above them.

[Kemarit]

Yeah, I do agree, and with a case right now, it's just a matter of time before it would collapse due to the pressures. I'm a old school myself, never invest on this centralised bankers coins even during the height of it at 2017 as I know that it will soon be in the government's radar and sure it did.

I do not know how XRP can escape this one though, it's either they pay the fine in billions and then never recovered from that.

[Pennyblocks]

Lost 40% today already. It's insane.

Usecase for pump and dump only. Not a real crypto IMO

[PiousFox]

I am so glad that this is finally happening. It could not come fast enough it will cause correction but it is something the space has to go thru. Hopefully we see more of this where people start actually looking at the technology and not just the marketing.

[fishbonez11]

There is no easy money, I've seen how someone earned bug because of XRP but also seen how he has lost everything he gained. XRP is more like a HYIP in the past few weeks, people got so overwhelmed by the sudden pump in price that it showed. I actually tried to buy but luckily sell it at peak, I tried it because its one of the supported coin in my local wallet that allows me to transact free. But I have this feeling that it will be a big scam, many have lost funds and still hoping they can recover.

[BayAngelo]

From what i heard and learnt about XRP. It is been described as a centralized project controlled by banks and institution as a security token to outsmart bitcoin. the developers where said to be bankers and financial investors trying get a hold on cryptocurrency and never allow bitcoin to dominate. unfortunately, they failed to clear every papers outlined for them by SEC. so sorry they are passing tru shit.

[Inagame]

I think XRP or Ripple or whatever you want to call it will be dead soon, and we can one day talk with our grandkids about coins like bitconnect, ripple and others 

[asriloni]

Lost 40% today already. It's insane.

Usecase for pump and dump only. Not a real crypto IMO

FYI this is not crypto but this is a quick rich scheme for Jed and his family.
This coin has no use case and so all of XRP executives are lying. This is an illegal security coin that must be taken down by SEC.

If SEC will be winning and XRP will be a illegal security coin and it might get 100% decrease and the price of ripple connect will be worth zero value.
Jed will be dumping his 200millions USD worth of ripple to the market soon. That's a scam. People should realize if ripple will be the next bitconnect.

[pealr12]

Lost 40% today already. It's insane.

Usecase for pump and dump only. Not a real crypto IMO

FYI this is not crypto but this is a quick rich scheme for Jed and his family.
This coin has no use case and so all of XRP executives are lying. This is an illegal security coin that must be taken down by SEC.

If SEC will be winning and XRP will be a illegal security coin and it might get 100% decrease and the price of ripple connect will be worth zero value.
Jed will be dumping his 200millions USD worth of ripple to the market soon. That's a scam. People should realize if ripple will be the next bitconnect.

I think xrp has pass the point of referring to it as quick rich project, this project was launched years ago and has always maintain a good rank on the cmc list, I thought the sec is investigating another project conducted from the ripple lab and not xrp, xrp as a project id not the problem here but ripple as a company is.