Hope you all bought Ripple/XRP.
(media.greatawakening.win)
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Never getting over $3.75 in 12 years isn't really doing much compared to some crypto.
You're both right.
I've been holding for 8 years now. They don't want people in. This one and XLM to cover your ass. They're the two cryptos considered to be stablecoins in the eyes of American law.
Sounds more like you showed up late to the party. Nothing wrong with that, but XRP isnt a "crytpocurrency." Its not decentralized, and def wasnt intended to be a gambling grift.
Buying in 8 years ago is late to the party? How so?
How is XRP not decentralized?
well, a quick google search will show you this: XRP is considered centralized due to several factors. The network's consensus mechanism relies on a Unique Node List (UNL), which is hand-selected by Ripple, the company behind XRP. This means that Ripple decides which nodes can oversee transactions, leading to a lack of decentralization.
Additionally, Ripple controls over 55% of the total XRP supply, allowing them significant influence over the market and network governance. The consensus algorithm used by XRP, known as Proof of Authority (PoA), further emphasizes its centralized nature, as it relies on trusted nodes determined by centralized entities rather than a decentralized network.
Critics argue that XRP's design goes against the core philosophy of most decentralized blockchains, as it requires direct permission from the XRP Foundation to participate in consensus, making it nearly centralized in terms of blockchain design.
These aspects highlight the centralized nature of XRP, contrasting with the decentralized ethos of other cryptocurrencies like Bitcoin.
Ah so it's decentalized but because Ripple wants people running the network who they believe can have insurance and infrastructure makes it "technically" not decentralized in your mind?
You can say the same about Bitcoin. Mining and running the network primarily happens in China.
They're also selling that supply to buy big companies. Having that supply could be gfted to the governemt. Kinda like that plane...
Again, same thing could be said about Bitcoin and China.
Critics argue? Are you writing an article here? That's the same point you've already made just worded differently.
I mean if you're a Bitcoin maxi they might help you cope but why would anyone run a Bitcoin miner? Electricity costs would outweigh profit and why would you want to help a network of a coin that's mostly held by companies like MicroStrategy? Clearly Bitcoin has failed as digital cash.
If you bought in 2013 what are you crying about? You should have done nicely at those prices.
Because more people could have come aboard. Gotten ahead for once.