I know crypto pretty well and XRP isn't a real cryptocurrency.
Transactions aren't secured with proof-of-work and account balances can be frozen from afar. This allows government pressure to be brought to bear against custodians, currency issuers, and their users.
Also, it's not permissionless. In Bitcoin, anyone can anonymously start mining and get paid for doing it. Whereas with Ripple, the company maintains a Unique Node List, and any validator who isn't on that UNL list is not allowed to process Ripple transactions. This means that transactions are only validated by identified, approved people.
Finally, when XRP was first released, 100 billion of them were created and most were held by the company and developers/founders. This means that no matter how high the price wants to go, the company will always be able to sell into that pressure and constantly reap the ongoing revenue from maintaining a stable price for XRP.
XRP is a permissioned blockchain designed for private central banks. It allows centralized control and allows a small group to decide what transactions are and are not acceptable. Doesn't matter which specific entities are ultimately in charge. It is designed to continue the existing system where a small group of elites can decide the circumstances under which we are allowed to spend our money.
Only proof of work, fully public blockchains like Bitcoin are truly decentralized. Everything else should be resisted.
Bitcoin has a risk of having 51% attacks. Most of the mining was centralized based on country control. It does not scale to real world transaction rates and consumes too much energy.
Not holding my breath on XRP but I’m holding some. It would be life changing if it amounted to anything. It’s basically my only ticket out of poverty lol
Whenever the price goes up, the founders will sell more XRP and reap the benefits while maintaining a low price. This is why they kept tens of billions of XRP for themselves.
XRP is the last "cryptocurrency" I would ever buy or expect to get rich from.
I know crypto pretty well and XRP isn't a real cryptocurrency.
Transactions aren't secured with proof-of-work and account balances can be frozen from afar. This allows government pressure to be brought to bear against custodians, currency issuers, and their users.
Also, it's not permissionless. In Bitcoin, anyone can anonymously start mining and get paid for doing it. Whereas with Ripple, the company maintains a Unique Node List, and any validator who isn't on that UNL list is not allowed to process Ripple transactions. This means that transactions are only validated by identified, approved people.
Finally, when XRP was first released, 100 billion of them were created and most were held by the company and developers/founders. This means that no matter how high the price wants to go, the company will always be able to sell into that pressure and constantly reap the ongoing revenue from maintaining a stable price for XRP.
Thank you for the clarifying concept regarding blockchain. Permissionless and unique nodes are very important concepts.
XRP is a permissioned blockchain designed for private central banks. It allows centralized control and allows a small group to decide what transactions are and are not acceptable. Doesn't matter which specific entities are ultimately in charge. It is designed to continue the existing system where a small group of elites can decide the circumstances under which we are allowed to spend our money.
Only proof of work, fully public blockchains like Bitcoin are truly decentralized. Everything else should be resisted.
Bitcoin has a risk of having 51% attacks. Most of the mining was centralized based on country control. It does not scale to real world transaction rates and consumes too much energy.
I did buy 100 XRP some years ago, so we shall see.
You lost me with gematria, though.
Astrology is based on the belief that there is a cosmic order to things.
Gematria is based on the beliefs that there are Elites who communicate with each other in public using numerology.
These two are not even in the same realm.
Greed blinds people.
Not holding my breath on XRP but I’m holding some. It would be life changing if it amounted to anything. It’s basically my only ticket out of poverty lol
Whenever the price goes up, the founders will sell more XRP and reap the benefits while maintaining a low price. This is why they kept tens of billions of XRP for themselves.
XRP is the last "cryptocurrency" I would ever buy or expect to get rich from.