The Downfall of Crypto Begins with XRP

xiaohang07

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Quote from: bathrobehero on December 29, 2017, 02:14:10 PM

...then it becomes clear how useless of a metric supply x current price (aka, market cap) is.

Even now, a centralized coin standing on the 3rd place turns coinmarketcap.com into a complete joke imo and maybe it's time it gets replaced with a site that ignores shitcoins that ignore basic crypto fundamentals, like being decentralized and trustless.
I mean they even list utter garbage like Bitconnect, as they only require an exchange API to list coins, completely ignoring that Bitconnect is reportedly, almost completely traded on its own centralized exchange that can - and probably is - sending completely made up numbers manipulating the coin completely.

Ripple's distribution model is just too unfair. Ripple is the best example of pump and dump, if you look at the chart of ripple. Pretty funny, though.

September11Myth

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Quote from: xEisen on December 29, 2017, 03:25:48 PM

Quote from: September11Myth on December 29, 2017, 02:53:58 PM

Soon we will have also crytocurrencies created by states, fully centralized I guess, I wonder if they will be listed on coinmarketcap.

This was bound to happen eventually even without Ripple. I think there are big corporations experimenting with the blockchain software. When it does happen they will denounce all other cryptocurrency as unsafe and unlawful. The masses will then flee to the centralized cryptocurrencies...

Yes, they will likely orchastrate either some false flag cyber-terroristic event or some other engineered catastrophe in cryptos and then tell people : if you 'll use OUR cryptocurrencies you will be safe. And the sheep will obey.

xaviervilla

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Well, i am actually not shocked. Honestly, frm the very first time i have seen the ideologies of ripple, i already knew that sooner or later a thing like this would really happen. Just think about it, any rational mind can really be able to predict something like this.

Now, this isn't something we can stop because even if we are not included in the group of people who make ripple soar, we cannot stop people who are greedy and are wanting easy money. Which is why qll we can do is wait and hope that this prediction never happens. Because i would clearly be stepping out of the crypto world if decentralization disappears.

Agozyen

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Until the end

Quote from: lakimens on December 29, 2017, 03:09:59 PM

Ripple was not made by banks, but it will be the bank's answer to cryptocurrencies. Ripple will kill the cryptocurrencies, they can use it against us.

How exactly can they use it against us? All people have to do is dump and Ripple gets knocked down a few.

Chokolo

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Quote from: Snarks on December 29, 2017, 08:07:37 PM

Some people say Ripple is more decentralized than Bitcoin. Don't forget the influence of the Bitcoin miners, whales and companies.

Correct. Do not trust anyone that tell you Ripple is centralized. They dont know what they are talking about,
Read about it here
https://ripple.com/insights/how-we-are-further-decentralizing-the-ripple-consensus-ledger-rcl-to-bolster-robustness-for-enterprise-use/

«A key benchmark that we aim to achieve is to become more decentralized than Bitcoin, which at the time of writing is 51% controlled by just five mining pools. This means the largest five pools working together could achieve a 51% attack and reverse transactions (double spend) at will. For Ethereum, this number is even lower: only three pools are needed for a takeover. To match Bitcoin, XRP Ledger would need just 16 trusted validators. Add more, and the number of tolerable faults increases accordingly. In other words, XRP Ledger will not just meet, but exceed the decentralization level of other public blockchains.»

KingScorpio

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Quote from: Snarks on December 29, 2017, 08:07:37 PM

Some people say Ripple is more decentralized than Bitcoin. Don't forget the influence of the Bitcoin miners, whales and companies.

but these are new people not the old people,

this is a new business you can join, with ripple you have many established old elites and billionares over you

with ripple you have to live with the established not understanable overregulatedm burocratic system

GeePeeU

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ASK

Quote from: Snarks on December 29, 2017, 08:07:37 PM

Some people say Ripple is more decentralized than Bitcoin. Don't forget the influence of the Bitcoin miners, whales and companies.

Those people would be idiots.

Unless you can prove the nodes are'nt hosted by ripple themselves, in server environments with VPNs or such, You are foolish to believe that.

I don't know, nor have i read about, anybody hosting a ripple server. Have you? And you can't vote with hashpower on Ripple, because its not based on blockchain cryptography. So yea, its not even a cryptocurrency.

Also, Ripple are the only ones working on their code. They never have to show you all of their code. So at any point they can sneak in something malicious. Or say, increase max supply to x5 over night.

Snarks

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Some people say Ripple is more decentralized than Bitcoin. Don't forget the influence of the Bitcoin miners, whales and companies.

Tactical Genius

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Anyway, the most important thing to realize now is that, the technology is called the blockchain technology and there alot people getting aboard this technology thanks to its benefits, so if centralized systems such as ripple is making waves it shouldn't point to cryptopocalyse but rather point to greater prospects. Never forget price is always dictated by demand and supply and so if ripple's price just pumped it doesn't really mean anything.

KingScorpio

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Quote from: pure_happiness_inside on December 29, 2017, 07:55:56 PM

Ripple may be centralized, but it has real use cases. Banks are testing it to reduce operating costs, which for businesses may be more valuable than ideals of decentralized governance.

i think getting rid of the bankster rule is more important than a slightly better tech

old coins can be upgraded to better coins later, but the problem with bad governance and the rule of the rich established billionaires stays.

pure_happiness_inside

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Ripple may be centralized, but it has real use cases. Banks are testing it to reduce operating costs, which for businesses may be more valuable than ideals of decentralized governance.

shandiem14

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Its normal that the coin has good project if your willing to put your money then i suggest look at NEM,ADA,IOTA they are the beast of the future technology! XRP is a centralized coin and has a big partnership with major banks

allanr

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Its just regular pump and dump, its too centralised so why ?

Coins_Hiro

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Quote from: GeePeeU on December 29, 2017, 05:04:13 PM

Quote from: cynical on December 29, 2017, 04:59:38 PM

people in general dont care what effects the have on the crypto community as long as they can get X amount of profit.
if that profit comes from ripple they dont care.
unfortunately its price over the last year has been very inviting and is paying off now.
should we have a bitcointalk-marketcap page here on our own forum without any centralized coins?

That is a good idea. A new discussion platform, and coin listing page, void of centralized tokens, would revitalize the part of the community holding their integrity close.

I really like this idea. If only there's a thread here where everyone votes for their top 10 coins, it'll be a good help for newbies who are struggling and undecided what's a good coin to buy, avoiding shit coins that its only role is to be pumped and dumped later.

I was surprised seeing XRP beating ETH on CMC ranking last night. I am eyeing to invest on Ripple yesterday but for some reason wasn't able to. It is only now I realized that it seems God doesn't want me to invest on a coin that on its ATH now as it'll surely be dumped later like what happened to XVG and EMC2 of a friend who is currently crying for his loss Grin

krodmandoon

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Quote from: tk808 on December 29, 2017, 01:59:54 PM

XRP passed ETH on CMC, most of you are a bunch of a fucking fools

We are entering the new age when corporations will rule the top 10 on CMC, it's inevitable. With that, regulation and centralization will follow closely. We are drawn to centralization to rule over us sheep.

It was different before, when the markets were much smaller and away from the public eye, now that billions are being invested into the worst coin ever made, others will follow.

Your prediction scares me. Centralization and regulation will kill everything that I love in crypto currencies, but unfortunately sounds reasonable to me.

dre2ooo

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Quote from: Cryptoshops on December 29, 2017, 06:39:15 PM

Unfortunately the USD has been key to the rise in the price of Bitcoins.

For now.

Cryptoshops

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Quote from: KingScorpio on December 29, 2017, 06:23:01 PM

Quote from: turbospeedens on December 29, 2017, 06:18:16 PM

a takeover of the cryptomarket, bankers are really scared of losing control of the money, ripple is a currency backed by bankers, they could make a megamassive pump, then dump it all creating a huge dip that will scare everyone away

soon it will not be important anymore how many US-dollar a currency is worth

you guys currently calculate their portfolio value in us dollar, but what if tomorrow

us dollar is worth just 0.5 euro?

then your entire portfolio configuaration proves worthless and just that, also your trading strategy becomes worthless

regards

Unfortunately the USD has been key to the rise in the price of Bitcoins. IF the USD becomes worthless so will Bitcoins because nobody will trade it because it would have no value and I would be very suprised if the USD would ever fall to next to zero If you look at the world fiat currencys they are pretty stable and have been for a long time.
Bitcoins and other currencys need to become stable like fiat money is , and also go down in value so that people can use it as a means to pay bills or buy stuff. If it stays at its current high price and keeps on jumping all over the place it will never really be used as a cryptocurrency.

KingScorpio

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Quote from: turbospeedens on December 29, 2017, 06:18:16 PM

a takeover of the cryptomarket, bankers are really scared of losing control of the money, ripple is a currency backed by bankers, they could make a megamassive pump, then dump it all creating a huge dip that will scare everyone away

soon it will not be important anymore how many US-dollar a currency is worth

you guys currently calculate their portfolio value in us dollar, but what if tomorrow

us dollar is worth just 0.5 euro?

then your entire portfolio configuaration proves worthless and just that, also your trading strategy becomes worthless

regards

turbospeedens

newbie

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Merit: 0

a takeover of the cryptomarket, bankers are really scared of losing control of the money, ripple is a currency backed by bankers, they could make a megamassive pump, then dump it all creating a huge dip that will scare everyone away

Borin

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Both eth and ripple is no bet for me now. Soon every coin will be dumped hard... Every shitcoin are pumped or pump now, because whales making huge sell off their investments, max few weeks, maybe months, and all will end with collapse...

Topic: The Downfall of Crypto Begins with XRP (Read 761 times)