Where are people sitting with XRP? We always knew they would eventually partner with the WEF as it was in their "Cryptocurrencies for the future" but to me it's starting to look like a bit of a hedge in case the bad guys win, and we can clearly see they ain't winning. Am I wrong in this conclusion? I'm a crypto retard so any advice would be greatly appreciated. Ty frens
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I bought at 13 cents. I have so much XRP I'm embarrassed AF to even admit it
I know the feeling. I blame "whiplash" for my stash, kek.
That’s a name I haven’t heard in a long time. Is the account Still shilling random Crypto?
No idea, I havent looked back after I unsubbed.
Yeah I unsubscribed from him almost a year ago. Was mainly there after inaugday for much needed hopium, but quickly realised what a crap he was.
I got quite a bit in cold storage myself. Bought quite a bit at around 13 cents
le magic number
Ya. I'm selling at $6.66
Any currency is going to feel pretty worthless if they win. You can have all the wealth in the world, but it won't matter if they can switch your bank account off for wrong think.
All jokes apart, my instinct tells me that XRP is a bait and switch for the baddies. I have looked at their white-paper and its a schroedinger's crypto. Let me explain.
Unlike bitcoin, it does not use proof of work. Rather they have their own patented algorithm for consensus. This protocol is where a lot of suspicions arise. Essentially, they have a set of whitelisted nodes which is a small subset of the entire network (iirc last I checked I think it was of the order of 20-30 nodes). The consensus needs to happen only between these nodes. This keeps the power costs low and the time for consensus much faster than bitcoin. They also have some motivations to keep these nodes honest.
Right now these consensus nodes (I think there is a term for it, I dont remember now) are made up of big companies. And yes, rightly, it raises the suspicion. All it takes is just 20-30 big companies and if they all decided to go rogue or censor someone, they can do so. Most of these companies are no doubt WEF connected as well.
But think about this. This is the perfect bait and switch. It can be a tool for bad or a tool for good. All it depends on is who are the consensus nodes. The same technology can work tomorrow with different consensus nodes.
What if the financial system collapses, the WEF starts using Ripple for their CBDC, and then realise no one wants to use it because they all realise who is running the consensus nodes. Thats the Great Awakening.
And then finally when the dust settles, the same Ripple protocol can be used but perhaps use some quantum computers / white hat systems to run the consensus nodes. Its just an example, in actuality it might work in a very different way.
Well, wait. Ripple is one of the currencies with the most commits. It's active. And it's going to be a private crypto, private network. Look where the nodes all are. Bank to bank. It's more of a "client/server" crypto a la the early 90s. If you're looking for what the CBDC will be based on, you are looking at it with xrp. I'm just holding until it's all approved and rolled out and it catches fire and I will sell at the top and never come back in again.
thanks fren
All that said, I am not gonna buy any more and I am not gonna dump what I already have.
I had quite a big stack... top 10-15% til last year. Which i took a calculated gamble and sold it all for something else (which performed -90% :') ) . But I am still owed a sizeable amount of FLR which has yet to be distributed so it's not all lost .... assuming they honour it.
Going forward I am not sure.... I don't think it'll be rebuying XRP unless it takes a substantial hit. Have been accumulating XMR and other privacy coins instead.
I’d like to have a little in all the iso 2022 coins just in case
I sold mine and not looking back. There was potential but they ducked it up.
Tangible assets only. Example: gold and silver. Just my humble opinion.