Bitcoin vs centralized Coins like Ripple

[Dogedegen]

You are right, Ripple fans can be very harsh, when called out for worshipping a dangerous centralized shitcoin. It's like a lot of denial is accumulated for Ripple fans because wo wants to support a centralized dangerous shitcoin like Ripple, which is also pushed by fake marketing strategies to take market capitalization away from BTC and ETH.

I would not consider someone who bought Ripple to care at all about the ideas behind Bitcoin or proper cryptocurrencies. Ripple is a dangerous centralized construct, that should never have been allowed to create. The blame is shared by many participants of this industry though. If you see, Coingecko and CMC have had it listed on the same ranking as Bitcoin since it was added. It is an insult to everything that Bitcoin stands for, and any business that participates in this fraud can never say that they support satoshi's vision or ideas behind decentralized blockchains. Money is not everything, you need to have some morals too.

Seems we've found another coin with a strong foundation after Bitcoin. I hope they maintain it for long and not give in to the government attacks on it.

Meanwhile Ripple isn't to be compared with Bitcoin, not ever.

Monero has been under government assault for years now, but there is no centralized entity to give in to the attacks. At best they can just scare some developers away and make buying Monero harder, but that won't stop it. I'm happy that you understand that Ripple can't be compared to Bitcoin, many users don't.

[bangjoe]

Ripple is a highly centralized project and we can't warn enough to avoid Ripple at any cost. We have so much better and more decentralized coins at hand, why invest in such a shady fraud project like Ripple is. Ripple can be easily manipulated and it is highly relying on Ripple's core developers which are by Brad Garlinghouse involved in marketing fraud and similar shady staretgies to push Ripple.

No matter how hard we warn them when the brains of these Ripple worshipers have been washed, we can't do anything, meaning that the point of view is born from the performance of the brain/personality, therefore it is difficult for us to change when they have faith in something in their lives. They won't hear that greedy developers are manipulating to trap gullible people in their games.

You are right, Ripple fans can be very harsh, when called out for worshipping a dangerous centralized shitcoin. It's like a lot of denial is accumulated for Ripple fans because wo wants to support a centralized dangerous shitcoin like Ripple, which is also pushed by fake marketing strategies to take market capitalization away from BTC and ETH.

If we see money entering the BTC from ETF, of course this is a wet field that they want to eat too, I think this is not only on the ripple but also other Altcoin projects that want to enter such as Solana and others, liquidity from ETF Bitcoin is very tempting, wherever project developers will want to enter. Enough eth in my opinion because it has been approved.

But if seen from ETH, it is not so significant that the money coming in there indicates that institutional investors are also smart because they prefer Bitcoin from ETH.

Monero is for privacy, BTC - for stability and security.
 

Hmmmppp I don't think that it will come in, or you can say we don't need it.

[1miau]

You are right, Ripple fans can be very harsh, when called out for worshipping a dangerous centralized shitcoin. It's like a lot of denial is accumulated for Ripple fans because wo wants to support a centralized dangerous shitcoin like Ripple, which is also pushed by fake marketing strategies to take market capitalization away from BTC and ETH.

I would not consider someone who bought Ripple to care at all about the ideas behind Bitcoin or proper cryptocurrencies.

People are really gullible, yes. But it is our duty to share education of how Ripple is a dangerous, centralized shitcoin and should be avoided from an morale and investment perspective. Some people will share our views and change their opinion about Ripple, maybe won't touch it anytime soon again after we have shared our education of how dangerous Ripple really is.

[X-ray]

You are right, Ripple fans can be very harsh, when called out for worshipping a dangerous centralized shitcoin. It's like a lot of denial is accumulated for Ripple fans because wo wants to support a centralized dangerous shitcoin like Ripple, which is also pushed by fake marketing strategies to take market capitalization away from BTC and ETH.

I would not consider someone who bought Ripple to care at all about the ideas behind Bitcoin or proper cryptocurrencies. Ripple is a dangerous centralized construct, that should never have been allowed to create. The blame is shared by many participants of this industry though. If you see, Coingecko and CMC have had it listed on the same ranking as Bitcoin since it was added. It is an insult to everything that Bitcoin stands for, and any business that participates in this fraud can never say that they support satoshi's vision or ideas behind decentralized blockchains. Money is not everything, you need to have some morals too.

Most of the people who bought XRP don't even understand the idea behind bitcoin, what they seek is just profit and they think Ripple is like the 2nd bitcoin while it's definitely not true.

Alas, the trading volume that ripple has is still high despite the fact that the coin isn't that great in the first place.

Wonder why newbie are so fixated on XRP when they first trying to invest in crypto as well, ridiculous.

[Guccho]

Actually, Altcoins have burned a lot of people including me. True most of them are overly centralized, and the teams behind them are typically not open. Just too common are the hazards including scams, cyberattacks or insider dumping. Bitcoin distinguishes out because it’s decentralized and time tested. I used to trust in various altcoins but now I'm much more cautious after seeing what happened with Luna and some other initiatives

[Oohio]

The real conversation should be between sovereignty and servitude. Centralized coins aren’t just bad investments. They are financial weapons used by people that enjoy controlling you. Look at the trends, look at the mechanisms, look at the intentions behind these projects.

They argue, "altcoins can bring gains." You can win a lot of money gambling, too, until the house decides otherwise. The pattern is usually the same: hyped debut, early insider sell-off, community delusions, finally collapse. When will it happen? Not if, but when. Because a centralized system is not designed for you. It is designed to make use of you. The moment a single entity can manipulate supply, halt transactions, or “comply with regulations,” you’re not in crypto, you’re in corporate finance 2.0.

PoS vs. PoW is the illusion of choice. From Day 1 PoS hands the keys to the richest. PoW requires actual work, actual energy, actual expenses, not digital permission slips generated from nowhere. Stakers rule PoS and you’re expecting fairness? Each PoS network becomes a shadow monarchy. Though not flawless, Bitcoin at least does not demand you to bow.

You have already lost the game if you want a regulator like SEC to save you from a decentralized financial system. Why do individuals continue to be victims of centralized lies? Security, convenience, speed, empty promises, repeated in cycles, and yet, here we are once more. The issue isn’t just that these projects exist but rather it’s that people still believe in them.

i am surprised with the topic and more informed by your post.
but does it mean that BTC is the only reliable crypto due to its decentralised system/setting?
This is disturbing for me because i invested in multiple crypto and looking forward to the bull season.
Perhaps i might need to sell off my altcoin and buy just BTC? or what do you think?

[Hedis]

 I think many individuals in this area have felt some form of what you're saying. Altcoins obviously come with substantial risks and a lot of projects have failed due to centralization, poor management or blatant scams, The Terra Luna collapse was a tremendous wake up call. The fact that many of these coins are run like startups rather than decentralized networks makes them open to a lot of manipulation.

That said while Bitcoin is strong and proven some users still opt to investigate altcoins for innovation and alternative use cases, It basically comes down to your risk tolerance and completing comprehensive study before putting money into any project and avoiding excitement and focusing on fundamentals is definitely the safest route forward. For most people sticking largely with Bitcoin while being cautious with altcoins isn’t a bad plan at all.

[Abiky]

I am not invested in XRP but I don't think it will die and neither will many other altcoins. They are centralized but backed, used and supported by governments and centralized organizations.

To date, leading financial institutions such as Santander, American Express, Bank of America, Guggenheim Treasury Services (USA)...and many companies around the world are using XRP and RippleNet. Not to mention, there are reports that 10 governments are partnering with XRP to create CBDCs…or Blackrock has filed for XRP ETF.

How will XRP fail?
https://www.thecoinrepublic.com/2024/10/16/200-institutions-including-bank-of-america-to-use-xrp-confirmed-in-judge-report/

If BoA officially adopted XRP for payments, then XRP's lifespan would be extended. We're yet to see how long banks are going to "play" with XRP. It won't be long before they get tired of it. Launching CBDCs on top of the XRP Ledger is questionable, especially when governments want full control over their currencies. Why use an existing public blockchain network when they can make their own from scratch (private)? Ripple, Inc. recently launched the RLUSD stablecoin with the hopes of keeping XRP afloat. But the competition is fierce, as established players (USDC, USDT) have better recognition in the mainstream world.

Either way, nothing beats the longevity of decentralized cryptocurrencies. I'm certain BTC will outlast many centralized coins in the long run (XRP included). To each their own. Just avoid putting all of your eggs in one basket, and there should be nothing to worry about.

[fikrett]

i am surprised with the topic and more informed by your post.
but does it mean that BTC is the only reliable crypto due to its decentralised system/setting?
This is disturbing for me because i invested in multiple crypto and looking forward to the bull season.
Perhaps i might need to sell off my altcoin and buy just BTC? or what do you think?

You do you, but BTC appreciates time the most and is the most stable coin on the market.

You need to plan what you are going to do in the future with your alts and whether you will sell them in small minus or plus - here, nobody would be able to get you to decide besides you and your analysis.

Be wise, analyze more, and you will be happy with the results.

[coyhasmon]

I think many individuals in this area have felt some form of what you're saying. Altcoins obviously come with substantial risks and a lot of projects have failed due to centralization, poor management or blatant scams, The Terra Luna collapse was a tremendous wake up call. The fact that many of these coins are run like startups rather than decentralized networks makes them open to a lot of manipulation.

It is not many, it is basically all of the top coins excluding Litecoin and XMR. They are all run like companies. Some try to fake decentralization and create a foundation to run it, but it is the same thing. As with most of their features, even their organization structure is about faking things.

i am surprised with the topic and more informed by your post.
but does it mean that BTC is the only reliable crypto due to its decentralised system/setting?
This is disturbing for me because i invested in multiple crypto and looking forward to the bull season.
Perhaps i might need to sell off my altcoin and buy just BTC? or what do you think?

When you are investing in most altcoins you are buying centralized coins that pretend to be like Bitcoin. That does not mean that you won't make money there. You can, but at the same time you are supporting fraud and scams. Then again, most people who are invested in altcoins are like that so you can do whatever you want.

[madnessteat]

~snip~

I even believe that 90-95% of crypto investors today don't care about decentralization or privacy as much as they claim. All they care about is profit, cheap transaction fees, nothing more, and they are just trying to deny that.


If people really care about decentralization, privacy, they won't use centralized exchanges and invest in altcoins. But look, the trading volume on CEX is many times larger than DEX, which shows that decentralization has never been our top priority.

I bet even if bitcoin loses its decentralization but it still increases in price and makes huge profits, people will still be happy with that. They will only really leave if bitcoin is no longer profitable.

Over time, more and more people will use decentralized exchanges instead of centralized ones. But one question arises. Are decentralized exchanges truly decentralized if they comply with all regulatory requirements and do not allow users from countries on sanctions lists to access their services? It seems to me that these are far from decentralized exchanges.

If Bitcoin loses its decentralization, it will be no different from Ripple or BNB. I believe that investors and institutions will then lose interest in Bitcoin.

[coyhasmon]

Over time, more and more people will use decentralized exchanges instead of centralized ones. But one question arises. Are decentralized exchanges truly decentralized if they comply with all regulatory requirements and do not allow users from countries on sanctions lists to access their services? It seems to me that these are far from decentralized exchanges.

In this case you don't properly understand how a decentralized exchange works. The smart contracts are decentralized, the website is not and it is a centralized user interface to the smart contracts. If you know how to interact with the smart contracts yourself you don't need to use the website. Obviously it is much harder to use it this way but this proves that they can't prevent you from accessing their services. Anyhow, in practical terms this is a pointless argument. Just change the VPN server that you are using to a compatible jurisdiction and this "regulatory block" is bypassed even more easily.

If Bitcoin loses its decentralization, it will be no different from Ripple or BNB. I believe that investors and institutions will then lose interest in Bitcoin.

That is why this is never going to happen.

[BenCodie]

Over time, more and more people will use decentralized exchanges instead of centralized ones. But one question arises. Are decentralized exchanges truly decentralized if they comply with all regulatory requirements and do not allow users from countries on sanctions lists to access their services? It seems to me that these are far from decentralized exchanges.

In this case you don't properly understand how a decentralized exchange works. The smart contracts are decentralized, the website is not and it is a centralized user interface to the smart contracts.

If the front-end is open source, anyone can fork the front-end and run it using the same smart contracts. Yes that means that the front-end/interface is not necessarily centralized though the applications as a whole (interface + smart contracts) is decentralized because it can be accessed even if the main host is taken down.

Over time, more and more people will use decentralized exchanges instead of centralized ones. But one question arises. Are decentralized exchanges truly decentralized if they comply with all regulatory requirements and do not allow users from countries on sanctions lists to access their services? It seems to me that these are far from decentralized exchanges.

If you know how to interact with the smart contracts yourself you don't need to use the website. Obviously it is much harder to use it this way but this proves that they can't prevent you from accessing their services. Anyhow, in practical terms this is a pointless argument. Just change the VPN server that you are using to a compatible jurisdiction and this "regulatory block" is bypassed even more easily.

This is correct, though some decentralized exchanges that are complying with regulations are warning about using VPNs. I haven't heard of anyone being blocked for using a VPN though I'd expect in the future that there will be mechanisms in place to detect and potentially block the usage of VPNs, based on some of the warnings I'm seeing on popular decentralized exchanges so far.

If Bitcoin loses its decentralization, it will be no different from Ripple or BNB. I believe that investors and institutions will then lose interest in Bitcoin.

That is why this is never going to happen.

It is always a possibility for power and politics to corrupt something that is decentralized, or to reduce its decentralization.

[Abiky]

It is not many, it is basically all of the top coins excluding Litecoin and XMR. They are all run like companies. Some try to fake decentralization and create a foundation to run it, but it is the same thing. As with most of their features, even their organization structure is about faking things.

That's the reason why many people believe there's a CEO behind each crypto project. Most coins aren't as decentralized as they claim to be. The term "decentralization" is buzz word these days aimed to fool people in the mainstream world. Especially noobs.

Now you see why no other coin can beat the "King" (aka Bitcoin). XRP may be fast and cheap, but it can be easily frozen and manipulated at will. It's the "banker's coin". But considering that most people are greedy, they will continue to buy centralized "shitcoins" regardless of the risks involved when doing so. At least we know BTC will outlast many altcoins. Let's just hope "Wall Street" doesn't buy all of the BTC. Else, it would be nothing but doomed.

[1miau]

Now you see why no other coin can beat the "King" (aka Bitcoin). XRP may be fast and cheap, but it can be easily frozen and manipulated at will. It's the "banker's coin". But considering that most people are greedy, they will continue to buy centralized "shitcoins" regardless of the risks involved when doing so. At least we know BTC will outlast many altcoins. Let's just hope "Wall Street" doesn't buy all of the BTC. Else, it would be nothing but doomed.

Most people I know only buy Ripple because of greed. Because it might be a good investement. But don't be fooled, a strong Ripple is bad for our crypto market because it makes a massive manipulated and centralized shitcoin stronger as is should be. We need strong decentralized coins such like Bitcoin, to be strong. 

[Antotena]

i am surprised with the topic and more informed by your post.
but does it mean that BTC is the only reliable crypto due to its decentralised system/setting?
This is disturbing for me because i invested in multiple crypto and looking forward to the bull season.
Perhaps i might need to sell off my altcoin and buy just BTC? or what do you think?

Personally, my answer is yes and if you want to hear the public opinion, it's going to be yes. Check the supply of ripple and then check the maximum supply of Bitcoin, you will know which coin is more inflated. Bitcoin was designed for decentralization and the community at hand but ripple was designed to make the founders rich and the team. Bitcoin doesn't have any form of centralization but has achieved what any company like Apple has done but ripple hasn't achieved anything in their life.

Why even the comparison, I will take Ethereum a bit serious if they are the one and not this altcoins that hasn't break their all time high may years now. I must give ripple one thing though, I have never see any community that has believed in the project like ripple community, they are still having this sense future of been the bank that bank the banks but for years, no bank has ever spoken about their network or how they have utilize them, it's lies everyday.

[Agbamoni]

but does it mean that BTC is the only reliable crypto due to its decentralised system/setting?
This is disturbing for me because i invested in multiple crypto and looking forward to the bull season.
Perhaps i might need to sell off my altcoin and buy just BTC? or what do you think?

Have this in mind. If you sell your altcoins to buy bitcoin you wont regret, rather with time you will be happy you made that decision. But imagine you sell your Bitcoins to buy altcoins then you are opening your investment portfolio to a higher risk of failing. This is not just about decentralization only, Bitcoin has gained trust from investors over a decades now. It is one asset that is certain to appreciate over time regardless of the fluctuation in the short term.

[Wiwo]

Now you see why no other coin can beat the "King" (aka Bitcoin). XRP may be fast and cheap, but it can be easily frozen and manipulated at will. It's the "banker's coin". But considering that most people are greedy, they will continue to buy centralized "shitcoins" regardless of the risks involved when doing so. At least we know BTC will outlast many altcoins. Let's just hope "Wall Street" doesn't buy all of the BTC. Else, it would be nothing but doomed.

Most people I know only buy Ripple because of greed. Because it might be a good investement. But don't be fooled, a strong Ripple is bad for our crypto market because it makes a massive manipulated and centralized shitcoin stronger as is should be. We need strong decentralized coins such like Bitcoin, to be strong. 

The whole theory of centralized privacy is full of shit as long as there is no freedom much like we have with Bitcoin because Ripple has the interconnection between centralized entities like banks to cryptocurrency which is far from what cryptocurrency is all about.

Coins like Bitcoin give their holders 100% freedom over their assets, which means the right to use their coins and control them without third-party involvement, XRP coin is the opposite of that its features did not fit into privacy and decentralization at all.

[Kagaru]

Altcoins carry quick returns and they are quite dangerous too and your brief list captures it all. Some of them are not even useful, are not managed well or are simply hyped. The problem of centralization is also a reality. When only a few people have the power to supply, or in which direction the project should be headed, it is very easy that things might turn out wrong, particularly when there is some cash involved.

With that said, I don not believe that all altcoins are trash. Some of them are legit and have good teams and use cases but you need to go deep and keep careful. The decentrality and security of Bitcoin is difficult to match and this is the reason why it lives on despite the entrant of others.

[Abiky]

Most people I know only buy Ripple because of greed. Because it might be a good investement. But don't be fooled, a strong Ripple is bad for our crypto market because it makes a massive manipulated and centralized shitcoin stronger as is should be. We need strong decentralized coins such like Bitcoin, to be strong. 

Bitcoin is already strong. Even more so than Ripple. While that's the case, we shouldn't underestimate the power of whales and "Wall Street". Most investors don't care about decentralization these days, so they will pour money on any coin as long as it's able to make them lots of money in the long run.

At the time of this writing, XRP has many fans. It might reach new ATHs if momentum continues to increase. There are now talks of adding smart contracts into the XRP Ledger (CTO David Schwarz said so), so you can see where this is heading to. Centralized "shitcoins" will continue to take the spotlight, while truly-decentralized coins are left behind in the dust (except Bitcoin). Many things can happen in the future. Better be prepared for the worse, just in case.