Topic: Why I would never buy XRP (Read 815 times)

Better way to say it: Ripple is helping solve a real problem, trying to make your life and my life better along the way

#xrpthestandard

Well good that I am already out of this coin. Its just looks like repeat of XVG on a better coin.

Yes for having fun and speculating a bit, it is great.

Trouble is, some people have bought it very low, and they are shilling it all over the place having dollar signs in their eyes. But sure enough they forget to mention that it is not a cryptocurrency but a token in a corporate payment network

Paypal or Visa could issue a token, too, but at least then people would understand.

I reckon, Ripple labeled as not a real cryptocoin is wrong. It might be better to label it as a different flavor of a cryptocoin. It also is backed by the maths.

But what I do not like about it are the missing transactions at the beginning of its ledger. That should be investigated.

Ripple was made for banks 

Apart from this single bump & dump Ripple has been one of the worst performing coins (or should I say tokens) I have had since the summer. As an investor I dont see any value in it. I can instantly think of 20 other coins that give better profit and are not fully controlled by single company.  

Ripple is way to centralized to be used for long term investment, it can be manipulated at any time. I will much rather invest in anything else than ripple. The only case for it is short term speculation. Nothing more.

Thanks for the details warning explained. I was wondering how this XRP was increasing so much in recent few weeks. With centralized by bank, this coins are could be manipulated and any chance to be freeze in later. By now, there only short-time investment if we need to gain profit from trading it, else way by long-term investing i will not advise it.

Looks like it's on its way to the moon! 

USDT coverd by FIAT?

Muhahahahaahahahahahahhaahahahaha

I got in on ripple about 5 or 6 months ago after a supoman video recommendation and just held still holding. I can’t shit on it as I have seen huge gains but I don’t use it or fully understand the concept. I know it’s a payment gateway for banks but is it successfully and who they are working with in the banking industry not too sure. I’m not sure when to cash out into btc either. Feels like a good time but this altcoins boom feels like it can go on further for ripple

XRP has recorded a staggering 163.5-fold increase in value. In crypto, think in market cap. Not price per coin. Market cap gives an estimate of the potential growth. Price per coin doesn’t mean anything as the supply for each altcoin differs.

No matter the negative comments towards XRP, I would still definitely invest in it as I have done my own research and will definitely observe proper risk management.

You made great explanations there friend and i totally agree with your. I don't wanna put my money into centralized projects. I don't trust them anymore. We should support decentralized coins because that's how crypto should work.

Isn't this the problem? A private company now controls 40% of the supply. They are free to manipulate the market just like big central banks.

Little offtopic: What is your opinion on cryptos which are somewhat tied with government i mean Waves (Russia) and Neo (China) ?

XRP they have pledged to keep their coins in escrow and keep them locked away. This is a big point for keeping the price stable

Are you saying every XRP wallet cost about the same as sending bitcoin ONCE from one wallet to another one?

What could be the reason for that? Why are XRP transactions almost free then, compared to BTC?

If BTC wallet are free, I'd expect BTC to promote that kind of freedom everywhere, even when sending

BTC from one (free) wallet to another (free) wallet

thats reason not happen to me.because i am trader that take advantages for each opportunity from each token / coins.no reason to refuse every single opportunity to gain profit

Now here people like you and him warning on investing ripple but this thread has been created few weeks ago. Many people might stop investing on this coin. I see my friend also who invested on ripple and bought the 1000 xrp with the fund he saved with him.
I see many banks only acquiring the ripple payment option in the world. I think as you said this coin is for bankers only not for the normal crypto users.

Well if you ar XRP mod why don't you answer this guys question about why it costs almost $40 to open an XRP wallet?

https://www.reddit.com/r/XRP/comments/7mugth/activate_ripple_desktop_wallet_which_i_downloaded/


"Unlike Bitcoin wallets which are free, Ripple wallets require you to have 20XRP to book your wallet address.

So if you add 1000 XRP to your Ripple wallet, 20XRP will be used to book the wallet address. This is one reason you don’t want to use multiple wallets for XRP (unless required).

Pick the right wallet from day one so that you don’t end up losing 20XRP on various wallet addresses."

Hi man, thank for your warning. But unfortunately, today Ripple overtook Ethereum by market capitalization. Ripple is for banks. if Ripple wins, banks win. Hope ethereum can beat ripple again. When Ripple falls it's going to fall hard.

Totally agree, when I saw it was run by big banks I knew to stay away. When I saw there was no wallet, or that there was one at some point, but it was being hidden. Now I see it going up and it just pisses me off. I saw the CEO on CNBC and after that attention it goes up 50% in a day, they are just draining the market with noobs money.  It goes against the entire purpose of the digital revolution to buy that shit.

So true. And maybe jealous too.


Don't give that much attention to Bitcointalk. Real cryptofans and investors know what to do.
If your decisions are based on a single forum thread, then you're burned

Well I bought some Ripple today after watching it since beginning of December.  Feeling stupid that I didn't invest sooner, but I at least see it growing much more this upcoming year.  Considering that it will likely be on CoinBase soon, it will skyrocket rather quickly.

From investopedia:

So you glad you didn't make any money?

Although I have not invested in XRP yet, I do not agree with point 5. The Ripple devs can't do that because of the trust. If not, they will lose the trust from the investors

do you understand this is about the UNL issue, and the only way to decentralize is to make joining the UNL up to anyone, and permission less. they have given no way of doing this yet.

Thats one of the break through of hashing and pos minting. Anyone can join (though I accept hashing has become specialisef the point is it has is switched of other can choose to join, with the UNL you have to be added).


further look at what ripple say

This is misleading because pool are composed of many many actors who can choose to withdraw hash, and new pools can arbitrarily form in a permissionless manner.

this side of the argument is completely glossed over.

what is Ripples plan to make to make the UNL permission less.

I think this is where dash will take out ripple, they can afford the hardware to brute force and be as fast as ripple, which is what ripple is kind of saying a UNL must be, high powered / speced hardware (and trusted).

a dash holder with 1000 Dash is incentivised to run good hardware and must be a good actor (once the  ping problem is solved if it has not already)

that said I don't know if Dash can scale.

A better example is probably NEM, where they appear to have 1000~4000 TPS already and masternodes. It maybe NEM overtakes ripple

ALSO THE UNL, they can choose if you can be a processor, UNLIKE a POW or POS where anyone can join in.

This means processors are complete subject to not only government action, court writs but also corporate policy.

Its not a crypto currency.

bingo

You should also read https://ripple.com/dev-blog/decentralization-strategy-update/

Buy and ride the wave, then dump when you're happy with the profits haha

Nice points, thanks for sharing, i also do not like xrp for its centralized nature but traders and speculators have made good money from it as it has grown from a couple cents to a dollar in an year.

You were just making a fool out of yourself till this point, but then i just stopped reading your non-sense...

So many bag holder in XRP craze right now, somehow, I tend to avoid the craze because the price usually pumps up.

Correct me if I am wrong but XRP is the only innate currency in the system in the middle of all those IOUs issued by the gateways that does not require counterparty trust, is it not? The Ripple users also pay all their fees in XRP correct? Also, they can only activate their wallets if they have the required base balance of XRP in them, right?

Then how can XRP be replaced without destroying all of the Ripple system?

and it is not decentralized . that is the 1 thing I dont like on xrp

yes, I agree with your statement, but I do not see good progress on XRP. because I am afraid it will only give a little profit.

Who the frack cares what or who Ripple is or if it doesn't act like a mainstream crypto. I bought a shed load of it at .20 and now its taking off. I'm buying all I can.

Sure, cut off your nose to spite your face. Good plan...

Thanks Pal for this significant information to us, this would be a great help to me and a big warning in investing in the XRP.

Sad to see that it's December 2017 and people still need to be enlightened about Ripple but I thank you for doing it.

I felt like Ripple was on a "good way" loosing market cap every day so I thought it would finaly vanish. But the storm on Cryptocurrencies at the beginning of Dec brought a lot of newbie investors for Ripple again. 

I did buy a few Ripple, and I don't mind about it. Even if they freeze Ripple anytime soon, I don't regret buying a few. The growth is slow but steady.

If they manipulate us for their gain, I would treat XRP like I'm donating for a good cause. I'm still grateful for owning a few Ripples though, even if I lost them in the dust I don't really care.

Cryptocurrencies are unpredictable, especially Ripple.

I do agree with you, I'll never buy RIPPLE,, this coin is just a toy for someone manipulating us for their own wealth ~

I agree with the words, but now it is a good way of investing in order to replenish my portfolio

I feel the exact same way too brother

You are right, that's why i won't invest in XRP. Ripple and Banks can manipulated its value. And they also can choose who can buy or sell it. It is not a currency for the people. It is a currency to keep the Banks up to date and to attract people to it. And also it helps them keep the funds in their Banks. They don't want people to use Bitcoin or altcoins as they don't control them.

I understand, thank you for explaining it clearly!

Ripple is a payment network. Maybe a good one, I cannot tell.

SWIFT is a payment network.

Paypal is one.

SEPA is one.

XRP is not needed by the network, it does not constitute ownership in Ripple. It acts as a "lubricant" but can be replaced by another lubricant if needed. XRP owners have no vote.

So it xrp acts as the stock for the ripple, right? More banks use ripple then Its token will go up?

Yes it is great for banks. But worthless to you.

Ripple is the company...banks use Ripple. XRP, the token, is not needed by banks. Even if it was needed, a copy could replace it anytime. 

Only if XRP were securities (like bearer shares) in Ripple, then they would be worth something. But they are not.

But isn't ripple offer a speedy transactions between the banks? The banks can save millions on using their technology and platform.

You have a point but look at from an investment point; It has small fluctuations (more stable), and steady growth! So it will attract many investors!

Some people in mainstream say Bitcoin is tulip mania but the real modern day tulip mania is Ripple. It's maybe the worst ponzi scheme in history, yet people don't realize that for short term gains. I wouldn't put a single penny even if I know it would go another 100x. That's against my belief in decentralized crypto.

Excellent point!!

How to get marketcap for dummies:

1. Create coin with many units. As many as you can. 100 000 000 000 is good.
2. Sell a few to retards.
3. Now claim "you locked a part of the 100 000 000 000". Doesn't matter, you stil have many many many many units left
4. More retards jump on train because they think "ow wow only 40 000 000 000 units available instead of 60 000 000 000"
5. Now your marketcap is really big. You be on coinmarketcap first page
6. More retards see you moving up on coinmarketcap and buy your crap
7. BINGO!!! You made it to the top

Orderbooks are for maybe 10 000 000 on all exchanges worldwide, but your marketcap is 50 000 000 000.

Same principle is used by IOTA. And DOGE. But DOGE price is realistic, IOTA and XRP is insane.

And you do not need to forget that ripple is fully controlled by banks, that is why they want to have as much marketcap as they can, because they are centralizing everything.

I will never touch ripple either. Raiblocks is the new kid in town and is a ripple killer if there ever was one. Fully open source and decentralized, faster than ripple and completely free, 36 times smaller marketcap too.

1. XRP is not a cryptocurrency, it is a token issued by a private company on a private blockchain. No POS, no POW, just a private blockchain.

2. This means it was created from thin air, then sold to noobs around the world. 100% premined, mining difficulty = 0

3. even USDT is better: it is covered by real fiat, and mining is indirect (Omni blockchain) but it is also centralized. And because of that, Tether has already frozen USDT assets. Exactly like Ripple, Tether is the only fiat gateway to USDT.

4. Ripple has frozen assets twice and they will do it again.

Freeze 1: The original Ripple Trade web wallet was pushed to gatehub. They now hold funds hostage by asking for KYC. Using terrorist bullshit excuses.

https://gatehub.net/legal/terms

Similar scenario can happen anytime!!! Imagine North Korea or ISIS using Ripple to transfer money!! They will (be forced by US Govt.) freeze funds ASAP and require KYC from everyone or worse. This would result in an epic dump. Not because most people are criminals but because it will be EVIDENCE that they contol the funds.

Freeze 2: http://insidebitcoins.com/news/not-so-decentralized-ripple-freezes-1m-in-user-funds/31862

In order to “avoid and mitigate irreparable harm and damages” to the value of XRP, a Ripple Labs agent went on the Bitstamp gateway and placed an order paying $1,038,172 for McCaleb’s stash of XRP, according to a report by CoinDesk.

They even admit they can freeze assets anytime:

https://ripple.com/build/freeze/

The XRP Ledger gives addresses the ability to freeze non-XRP balances, which can be useful to meet regulatory requirements, or while investigating suspicious activity.

---------->>>>> don't you think XRP would drop like a rock, if a major "non-XRP" freeze is ever published?! How delusional can shills be?

5. Ripple network works fine without XRP. Ripple fanboys, so delusional, cannot understand this? OK. Imagine for a moment, XRP was needed. But XRP is expensive. And XRP is private blockchain. Why should Ripple be super stupid to use expensive XRP? They can create another private blockchain with another 100 000 000 000 tokens (I will call it Shittle STL) and just use STL for operations.

No public blockchain can do that, but Ripple can do it, from one day to the next.

Then you own useless XRP - but they are not a share. No voting rights, no ownership in Ripple Labs, nothing. STL will be private, used by banks, and Ripple, and you can do fuck all about it.


Good luck, you have been warned.