Topic: Ripple is a Trojan Horse (Read 277 times)
Do you mean Ripple might be a thing or a factor on how cryptocurrency will be destroyed?, i think that might be possible because if you are thinking that ripple might do that because it is bank by a centralize sector which are banks well if that's the case i think this might be wrong because many of the banks are starting to adapt the system or else they might be wiped out. I guess they are coming from a point of collaboration to avoid the gradual disruption of the technology itself.
Ripple excellent and promising project and all who do not believe in it will lose a lot. The time will come when it will show its strength and my opinion that it will be the first cryptocurrency that will be accepted by our society as digital money.
Ripple has always been a scam and it shouldn't even be listed on coin tracking websites. It is not even a crypto currency!!! It is just a centralized spreadsheet but newbies continue to buy it.
We are at the beginning of the blockchain revolution and we do not know exactly how crypto will look like in 10 years.
Which solution will prevail and be the winner.
Maybe a coin, which is even not existing today, who knows....
The only thing we can be sure: crypto will stay.
Which solution will prevail and be the winner.
Maybe a coin, which is even not existing today, who knows....
The only thing we can be sure: crypto will stay.
Yes, I am fully aware that ripple is centralized this is the main reason I am not and can never be a fan of that cryptocurrency until something is done about making the coin a decentralized coin, I know that the price of ripple is going to soar in the future because they have the money to create a hype and not because we have a lot of people who love the idea, it is totally against satoshi plan on how a decentralized platform should be.
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?
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?
A brilliant perspective from you. Although some people might see it as antagonistic but then Ripple has less business in crypto because it doesn't amount to all or the core characteristics of cryptocurrency and blockchain technology
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
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.
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.
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.
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.
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.
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.
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.
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 ?
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.
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.
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.
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.
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).
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).
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.
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. 
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.
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.
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