Topic: Is Ripple a scam? Shocking Forbes article about XRP !!! (POLL ADDED) (Read 543 times)

There's a big difference between actual Forbes and a Forbes contributor, something anyone sign up and do.

Exactly that is why I wanted to ask the community for a second opinion.

Every day I see news about new companies are taking advantage of the Rippelnet network and other Ripple products.

This just can't be fake. Yesterday I read that SWIFT will use RippleNet. Is just overwhelming news.

I just though of something, after reading the article more carefully.

This guy and a lot of XRP haters are basing their statements on an issue that is common in every currency except metals, the fact that XRP was issued from thin air.


Oh yeah? And how are US Dollars being valued? How are Venezuelan bolívar being valued? What are their worth? What is Bitcoin's worth? It's electricity?
As long as Ripple is offering services based on the XRP coin and people "demand" it but the "supply" is limited, it's not a "worthless token" as they call it.

One of the 1st things one must do before taking an article seriously is to research its writer. I checked the history of the guy who is signing it and he seems to be at least sceptic over cryptocurrencies, not against it though.
He seems to be supporting JPMcoin and after the announcement of JPMcoin he's attacking Ripple... coincidence?
I'll make a wild guess (yes, a guess without any ground): "He's an investor of JPM and he's trying to shift people's opinions against Ripple and in favour of JPM."
Well... we can't for sure.


Wouldn't you say that XRP is more suited for microtransactions in POI though? Sure the little higher transaction fee BTC has in comparison to XRP isn't such a big of a deal right now, but the speed is very important when you're in a local shop. Can you imagine paying with your card and having to wait 5 to 20 minutes for the transaction to finalise?

I know, there's the lighting network, but until I see it I can't comment on it.

Though I don't like ripple and I don't I would ever like their project.
I don't think ripple is a scam, this should not be a new news in the crypto space about calling a project scam even if it's obvious that it is never and can never be a scam project.

Bitcoin has been called scam so many times that we are even beginning to loss count, but up until now we haven't seen bitcoin turning out to be a scam, rather all those that called it a scam are not the top investors in the technology.

coins like XRP are on a downtrend and it is not avoidable because they are useless and also have a huge supply of them around that the company has been magically producing and dumping on the market for millions of dollars.
them pulling additional scams is just the cherry on top that helps them make more money otherwise everyone knows these types of coins have an expiration date.

Even this is fact I doubt ripple lab would let xrp price goes down further they would make a strong support to .3$ level and create more positive news and make the price pump to gain interest from investors. As a 3rd biggest crypto currency base on market cap this could not easily stumble down by FUD.

I don't think Ripple or XRP is a scam, but I am not really interested in the cryptocurrency either. Given the large number of partnerships Ripple has gained, it appears financial leaders see value in the project. It seems XRP is more tailored to banks and financial institutions, whereas I see bitcoin and other cryptocurrencies for ordinary consumers and microtransactions.

If you have read my post you have seen that the author of the article I have based on was full of doubts an accuses Ripple that he pays banks to be his customers.

Today I read that another big payments provider is using Ripplenet and is very happy because reduced costs for almost 80% in an established crypto news service.

Both magazines are good known and with a reliable reputation and both spreading different news. One says Rippel is a pump and dump and the other premises success of the Rippelnet network and new says that new clients emerging.

I keep reading both kinds of news about Ripple lately and we can see clearly from this thread that the community is divided too. I think a pool would be a good solution here. I will try to add a poll with a simple yes-no answer to have a clear few.

I can't say ripple is a scam, because it is already getting used by some banks around of the globe.

But it is shady as hell. There are lots of red flags about it, so i always choose to avoid from it.

XRP no longer looks like a scam. Today you can see a very large number of scam projects that are already on the market. They today have a pronounced character. Today, they are very, very much. I think that they will constantly have a real chance of becoming more and more dangerous.

People have been saying the same thing for years yet all the new people or even some old people are shocked and some of them even deny this when told. Ripple is a company who made their capital from selling a fake ass coin that doesn't provide ANYTHING at all and preminted so they could have ALL the coins for themselves and sell whenever they need to and buy whenever the price goes a bit low.

They managed to convince rich people and big banks to use their platforms because they managed to sell millions of their coins to people who didn't know any better and used that money for marketing and sucking up on these people.

Ripple will be caught one day, I am betting 100% that one day IRS or FBI or whoever will arrest people at Ripple for fraud because pumping and dumping a coin constantly to make yourself richer could not be just considered a legal thing. They are as scammy and shady as it gets.

Any company that gives its former owner millions to dump each month is a scam. Don't know why people invest in this coin

Everybody is blindly repeating after Ripple executives that Baks are using RippleNet protocol and their additional products like xVia, Xcurrent.

Like the author said this is not confirmed and there is a suggestion in the article that Ripple pays them to do it.

I don't know what is the truth right now and that is why asked community for an opinion and discussion.

As far I know, Ripple coin used for banking transaction and i dont think its a scam because Ripple Network used by many banks in the world. Ripple is good coin and have big community with huge daily transaction volume, and i think its about our perspective on Ripple

I can understand what are they tolding us that article which you are mentioned.
But I don't think it is SCAM. It is manupilative, not decentralized and not good for me too but they are not SCAM! They are working well and they are trying to create a new method based on blockchain.

to be fair that has nothing to do with this topic and Ripple being scam or not. XRP is simply a pump and dump shitcoin which is why some people who are not familiar with pump and dumps or don't want to accept it, lose money because they end up getting on board with the pump too late or end up bag holding. if you improve your timing then you start making better profit too.

Ripple does look valuable, especially in capitalization in the third position, and not far from Eth. I just think that Ripple is still worthy of being a digital asset in a certain period of time or as desired. Can be used as a trading day that might indeed have a slight advantage.

haha, so much fiction happening in this thread.  Here's another Forbes article to consider...

https://www.forbes.com/sites/thomassilkjaer/2019/03/07/14-common-misunderstandings-about-ripple-and-xrp/#ad4292371d0b

Don't believe everything you read and do your own research.  Lots of other misunderstandings cleared up here:

https://fudbingo.com

Ripple is not a scam and htey have a good price in the market.
Though i believe that the movement and the supply is being manipulated by its own team.
Have no proof but this is what i am thinking which made me decide to stay away from this one.

I am one of ripple haters, The reason I hate ripple because cryptocurrensy should be decentralized because with decentralized system crypto can defeat banke. But we knew so many romus that ripple help bank, with centralized system. Im not trust ripple and i stop invest in this coin. I think i agree with that article

The answer is in the first 3 letters of its name.

What do you call something that rips people off ?

The transactions are fast and cheap, that's good, but Stellar, the original XRP, is a nice foundation doing good in the world.

And XLM is 4 times cheaper than overpriced XRP.

Hence : RIPple

As totally centralized token it is not a cryptocurency.  It is as much a cryptocurency as a secondlife lindens or World of Warcraft gold.

in crypto value is related to the placement in the global "cryptocurrency" index

Since this shitcoin is created its already considered to be a scam.All things backed by banksters have the tendency of manipulation and seeing that infographic about into their business model,its
clear as water and dont know if someone wont recognized this big scam.

well jes xrp is just an "itcoin" and its no less decentral than bitcoin with its big miner cartel

I always thought that xrp is too overvalued and manipulated coin that has no future. We should not expect anything other than promises and manipulations from them, and I would say that this asset is well suited for traders who understand how the market works, but this project is too risky for ordinary investors

I don't always  believe everything I read In the news and so should you. It could all be an information passed around the media, created by the whales to shill Xrp. Do your own research and don't turn to a weak hands out of ignorance

I can't remember the last time I bought a ripple. the thing I remember is XRP made my money burn. too much manipulation for the XRP market, so I think this is a high-volume shitcoin. a lot of people lost because they held the ripple last year, you know when their prices rose slowly only in a sudden time the market was dumped

When some read the article and ask the question,and who benefits from it in the first place??? because unfortunately we live in a time when all news are under control,and are only paid,it is recommended to publish,then publish on the public,really really important news is likely not where you do not see!So I'm sure the article about Ripple is not the fact that there is the truth, and in General the project RIPL is very cool and promising,and he has a lot of just partnerships

I don't think Ripple is a scam. As a result, Ripple is now the third coin with the most market cap. The fact that Ripple is a centralized platform makes me a little confused. But that doesn't give me the idea that Ripple is a scam.

ripple isn't scam, but too much manipulation is done by dev. dev ripple just wants to take advantage of the volatile crypto market. when viewed from the development of the ripple project far behind.

XRP being a shitcoin is an undeniable fact so there is no surprise there and whenever someone talks about it being scam they do have a point specially when you see them point out the premine, the way they own all the coins and the way they have been pump and dumping it. not to mention that they control the whole network tightly while advertising it as a decentralized coin where it clearly is not! that last one is the biggest scam of all.

Yes, Ripple is not a cryptocurrency but a company, so it is not listed in coinmarketcap.com. What was listed there is XRP, a token and/or cryptocurrency. Ripple and XRP are related but different and one can google the difference between the two.

Then tell me what is it? From where you take these informations?

Like I told I was trying to find any detailed information about their product or even tried to test if possible and only thing I found was more questions and doubts.

I wonder by myself how is it possible that 3rd biggest crypto is called a scam by major news magazines?

Many people and myself feel that Ripple should not be considered as a crypto currency since it is centralised. Whether it is a scam or not, I can’t tell for sure. But I did see the pump and dump took place a few times during the past years.

There is much more to it, otherwise this alleged scam would not have been successful whatsover.

XRP is centralised, so looking for additional features like in decentralized blockchains in ripple blockchain is not understandable by my side.

I'm not a fan of ripple but what is your basis on this? I knew there is a rumor about them being centralized but they are still claiming to be decentralized, I don't know if this is fud or real. Ripple is not just an excel spreadsheet they have their own blockchain with 1500+ TPS this quiet fast compared to others but the use cases is the most important. They have big names partners I don't know if those company didn't do an investigation on ripple.

I am wondering if this is a FUD or something that like them say like that and anyway, is that right he wrote Rippel instead of Ripple? But I think it is since they use the abbreviation of XRP for Ripple then I guess it's a typo. Anyway, the post of OP does make some sense but I still doubt it since we did not hear anything yet from the Ripple team.

I think that the price increase will be in the near future. At the beginning of April. But I also think that in a few years the banks will use another blockchain. Ripple is well suited for speculations.

First of all, I would like to be very honest I like how XRP is so quick when it comes to transfer/transaction and that is all I like about it. Not hodling XRP for sure! I exchange my coins to XRP only when I need to make a transfer and that is it. Not only the supply is too up there but the rumors about it if not fact that major hodler are just from the team itself makes me don't want to get involved with it. Personal thought 

Sorry bad this has literally no sense what you saying. If Ripple will be not used by banks why there should be a rise in the price of XRP in the future?

A single article is not enough to call top coin as a scam project. XRP is used widely but the mentioned arguments have sense. Let's wait for settled dust and everyone will get the point about this centralized coin.

Its a clear scam and yet people still continue to buy it.  The thing is ripple is not even a cryptocurrency.  It shouldn't  even be listed on coinmarketcap.  It is just a centralized excel spreadsheet with a huge amount given to the founders.  I don't think it will ever reach $1 again and it will descend out of the top10.

I think that many people understand what XRP is. I think that in the long run, Ripple will not be used by American banks, but I think that there will be a good rise in the price of the token in the future.

Ripple is a well-known scam since the beginning.

The article is written well enough and tells the truth.

The only thing they were counting on was their xrapid technology and SWIFT just denied that no bank will ever adopt any technology from Ripple.
https://dailyhodl.com/2018/11/06/swift-denies-ripple-rumors-says-platform-will-not-integrate-with-ripplenet-xrapid-or-xrp/

If banks are not going to use ripple, what good is it? You guessed right. Nothing.

Ripple has been often among such news mostly revolving around centralization, negativity, founder control, fud and fear but i think ripple has still performed well over the years and has proven itself in the market with top volumes do not forget that it even achieved the number 1 volume based altcoin rank and retained for few months and that cannot happen with scam or fraud project.

I have to admit that I was trying to find all I can about Rippelnet and I wasn't able to find much valuable info.

There is only a brief description of the Rippelnet network and its components on the Rippel.com web page and a video.

I wasn't able to find evidence of a working product. There is a lot of questions and suspicions about the Rippelnet between community members but in fact, nobody knows nothing about and Rippelnet is a big mystery.

Despite everything, Rippelnet has nothing to do with XRP token and in fact, these two products should be seen as a separate product in my opinion.

I have found no connection between Rippelnet and XRP. Maybe XRP is used as a payment token for Rippelnet but this only my assumption and I haven't found confirmation for this.

This is an interesting report about rippel and my opinion about rippel does not get better with it. I found the whole rippel project strange from the first time i read about it. That only confirms my opinion.

I saw a lot of negative news about the XRP project, but in spite of all this news I can only say that this project is growing better than other projects today, apparently similar advertising works like that to another.

It already says it all? Just the name Rippel like you've said, is explicitly showing that it imitates the real ripple which is quite not sounds great. At this moment we should be aware on where to invest and avoid this one.

A few days ago, a shocking article by Jason Bloomberg appeared in the Forbes magazine entitled "Is Rippel to scam?", In which the author proves that Rippel (XRP) is simply a scam.

The author thoroughly analyzed Rippel's business model and came to the shocking conclusion that it is simply a typical "scam" and "pump and dump".

I was very interested in this article because Rippel (XRP) and its protocol have long been not liked in the crypto world. Criticized many times by the community for not meeting any standards of cryptocurrency.

In spite of everything, XRP has overtaken ETH in its time and is currently in third place (right behind it) when it comes to the market cap and its price increases in relation to BTC. As we know, Rippel is successful on the exchanges and the Rippel protocol itself, which is already used by several dozen leading banks in the world to make transactions, according to the management of XRP. Recently, even the mysterious Rippel protocol has been announced as better and cheaper than the Swift bank standard which has made him an amazing advertisement and it is not surprising that banks are the main customers.

Rippel calls this protocol the RippleNet Accelerator Program. At first glance, a great project with great achievements and so far in the top three on Coimnarketcap.

So what's up? What has the Forbes journaler found so that, without hesitation, in the pages of this respected magazine, he would call Rippel a scam and pump?

To explain exactly, it will be best to quote the author. He called this investigation: Peeling Layers of the Ripple business model.

To explain the Ripple business model, I have compiled the graph below.



The starting point in the graph above is the creation of billions of XRP tokens - basically printing money to Monopoly from the thin air, except that you can play Monopoly with Monopoly money.

Essentially, Rippel's business model is a "pump and dump" scheme because it undergoes many activities to increase the value of XRP cryptocurrency. However, unlike most crypto pump and dumps, Ripple takes many steps to hide this basic fact.

One of the strongest indicators that Ripple will operate, there are dozens of customers including very large banks that it advertises. Take a closer look though, and most of these companies are only "partners", not customers - and even worse, Ripple pays these companies to become their partners.

"Starting October 13, 2017, Ripple will offer a unique award to financial institutions that are the first in their markets to process and promote commercial payments on RippleNet," according to the post on the Ripple blog. "The prize will come in the form of rebates through the new RippleNet Accelerator program".

Where, then, does the money come from for these rewards? "The RippleNet Accelerator program is funded with USD 300 million from XRP from Ripple XRP resources," he continues.

In other words, Ripple is using its share of its free XRP tokens to build the illusion it has paying customers – when in fact Ripple is paying them, not the other way around.

---

I am curious about your opinions. What do you think about Ripple (XRP) now? Are these facts right?

A bit scary one of the biggest crypto Rippel XRP is a total scam, cash to Monopoly printed out of the thin air, says the author.

Here is the whole article: https://www.forbes.com/sites/jasonbloomberg/2019/03/01/is-ripple-a-scam/#1593fc4679a4