Right now Ripple Labs is worth $225 Billion Dollars or the tenth largest company by market cap in the world per Mike Novogratz. The crash will not be fun and people should be very cautious, do your homework. [Reply]
Originally Posted by ChiefRocka:
Right now Ripple Labs is worth $225 Billion Dollars or the tenth largest company by market cap in the world per Mike Novogratz. The crash will not be fun and people should be very cautious, do your homework.
Why do you think Ripple is going to crash? [Reply]
Originally Posted by ChiefRocka:
The same reason you bought Ripple.
Edit: I'm trying to help, not naysay...the main issues are centralization and supply.
So why is centralization going to be a problem for them? I'm genuinely interested in your opinion on this.
I know several people that have no clue about cryptocurrency or monetary policy, or even economics - just regular blue collar guys - who are begging me to help them get into Ripple because they want in on the action, and think "if the banks are using this, it must work."
It's not bad logic, really. I'd like to give them both sides of the coin, but just saying "they're a centralized authority" doesn't seem to put them off. Or me, for that matter. And I'm an open source, Ron Paul voter, with a 20 year career in tech.
What, exactly, is the argument you're making? [Reply]
What is the best bitcoin accelerator right now? Lots of scam sites so want to find a recent legit one. Used viabtc before but their site isn't working correctly right now [Reply]
Originally Posted by Taco John:
So why is centralization going to be a problem for them? I'm genuinely interested in your opinion on this.
I know several people that have no clue about cryptocurrency or monetary policy, or even economics - just regular blue collar guys - who are begging me to help them get into Ripple because they want in on the action, and think "if the banks are using this, it must work."
It's not bad logic, really. I'd like to give them both sides of the coin, but just saying "they're a centralized authority" doesn't seem to put them off. Or me, for that matter. And I'm an open source, Ron Paul voter, with a 20 year career in tech.
What, exactly, is the argument you're making?
The entire crypto-blockchain movement is a disruption of the legacy financial system that allows for 99% of the worlds wealth to be monopolized by the richest 1%. We are early witnesses to the greatest redistribution of wealth the world has seen. Banks will attempt to hold onto the power but will eventually fail. Ripple is an attempt at a permissioned bank ledger, which is merely just a federated database, it is not secured by decentralized consensus. IBM also tried for a money grab with "Hyperledger", another permissioned chain and it has failed.
Blockchain isn't coming for a slice, its coming for the whole damn pie. Decentralized markets, wallets, loan services, identity, title registry...etc.
Your friends want to buy Ripple because it is the cheapest coin on a list of the top cryptos and they want to hit the lottery.
This is the last I'll speak about it. I would advise to be very cautious and research where real value presents itself.
Originally Posted by ChiefRocka:
The entire crypto-blockchain movement is a disruption of the legacy financial system that allows for 99% of the worlds wealth to be monopolized by the richest 1%. We are early witnesses to the greatest redistribution of wealth the world has seen. Banks will attempt to hold onto the power but will eventually fail. Ripple is an attempt at a permissioned bank ledger, which is merely just a federated database, it is not secured by decentralized consensus. IBM also tried for a money grab with "Hyperledger" on another permissioned chain and it has failed.
Blockchain isn't coming for a slice, its coming for the whole damn pie. Decentralized markets, wallets, loan services, identity, title registry...etc.
Your friends want to buy Ripple because it is the cheapest coin on a list of the top cryptos and they want to hit the lottery.
This is the last I'll speak about it. I would advise to be very cautious and research where real value presents itself.
New people can't register for Binance or Cryptopia right now. Would be a good time to make a Chiefsplanet crypto exchange site. Founders..get on it. [Reply]
Originally Posted by ChiefRocka:
The entire crypto-blockchain movement is a disruption of the legacy financial system that allows for 99% of the worlds wealth to be monopolized by the richest 1%. We are early witnesses to the greatest redistribution of wealth the world has seen. Banks will attempt to hold onto the power but will eventually fail. Ripple is an attempt at a permissioned bank ledger, which is merely just a federated database, it is not secured by decentralized consensus. IBM also tried for a money grab with "Hyperledger", another permissioned chain and it has failed.
Blockchain isn't coming for a slice, its coming for the whole damn pie. Decentralized markets, wallets, loan services, identity, title registry...etc.
Your friends want to buy Ripple because it is the cheapest coin on a list of the top cryptos and they want to hit the lottery.
This is the last I'll speak about it. I would advise to be very cautious and research where real value presents itself.
GO CHIEFS!!!
XRP isn't exactly centralized. It's open by design, and anyone can run a validator. That said, most validators are run by Ripple currently (which is a different entity from XRP), but if adoption continues to increase, that will change. Not being mineable has definitely kept validators from popping up - there's no financial incentive to do so. [Reply]
Folks should take a look at XRB. The technology looks good - it's fast, no transaction fees, scalable, a good team, and an interesting adaptation of blockchain (a block lattice). It's looking to be listed on binance soon, which has a good chance of increasing its value. It's a PITA to buy right now, but I'm taking a flyer on it, hoping it moons with the binance listing. Plus, seems like good tech. [Reply]
Originally Posted by Shag:
Folks should take a look at XRB. The technology looks good - it's fast, no transaction fees, scalable, a good team, and an interesting adaptation of blockchain (a block lattice). It's looking to be listed on binance soon, which has a good chance of increasing its value. It's a PITA to buy right now, but I'm taking a flyer on it, hoping it moons with the binance listing. Plus, seems like good tech.
Originally Posted by ChiefRocka:
The entire crypto-blockchain movement is a disruption of the legacy financial system that allows for 99% of the worlds wealth to be monopolized by the richest 1%. We are early witnesses to the greatest redistribution of wealth the world has seen. Banks will attempt to hold onto the power but will eventually fail. Ripple is an attempt at a permissioned bank ledger, which is merely just a federated database, it is not secured by decentralized consensus. IBM also tried for a money grab with "Hyperledger", another permissioned chain and it has failed.
Blockchain isn't coming for a slice, its coming for the whole damn pie. Decentralized markets, wallets, loan services, identity, title registry...etc.
Your friends want to buy Ripple because it is the cheapest coin on a list of the top cryptos and they want to hit the lottery.
This is the last I'll speak about it. I would advise to be very cautious and research where real value presents itself.
GO CHIEFS!!!
I get everything that you wrote but none of it answers why you think centralization is going to be the end of Ripple. The public isn't idealistic. I wish they were, but they're not. They don't care that Ripple is centralized. What they care about is whether or not they can make money on it/whether it works.
I admire the impassioned idealism, but I wouldn't recommend anybody trade on it. I do believe that decentralization wins the long game, but centralization is very good at the short game, much to my chagrin.
I don't know what's going to happen in the future, but I will not be surprised to see Ripple overtake Bitcoin in marketcap by Spring. If that happens - a considerable "if" - it will have some staying power.
I understand what the movement wants. The question, however, is what the market wants. So far as I can tell, the market wants a trusted coin that can scale, has low fees, and fast transaction times.
The market has determined (at this moment) that Ripple is currently the best solution for this, though I personally prefer RaiBlocks to it. [Reply]
