RIPPLE - Traitor of cryptocurrency spirit
Hello everyone ,
I am new in steem and as a first post I wanted to start to post feeling about a cryptocurrency.
Yeah! that lately hot guy of crytocurrency world . XRP !
They are developing a sytem that is centralized in disguise and they are actually a big problem for cryptoworld. They are going to sell out all those years work to Banks.
In Ripple network you will use Gateways (which in this situation that will be Banks) to buy / sell any currency and exchange/send/receive them through Gateways.
So what? Heres why it is bad;
- That will kill anonymity first of all.
- You will pay fees to the banks just like whats happening on current banking system.
- Majority that is not in cryptocurrency will actually dominate markets with Banks joining and so their trust will rise.
- At the end it will force shrink markets outside of Banks system and after a time it will be nonsense to use a digital currency when that system works and theres already currencies of countries.
Its like a doom approaching to cryptocurrency world .
I really hope decentralization idea in people keeps its power and people see this in near future.
so ignore them
I do but market doesnt, it is just a company wants to sell its product to banks. It is not a cryptocurrency . They should not be in this with us.
I thought ripple was a cheap wine.
since I'm not into wine much
I pretty much ignore them.
That's right.
And you can't mine Ripple either. This token is in the hands of its creator and not of its users. It's not scarce and they can create as many as they want. It is the epitome of centralised money creation and massive source for potential corruption. It empowers banks, while bitcoin and other (non-pre-mined) blockchain cryptos empower people.
The saddest thing is that many people new to digital currency, without understanding the differences between blockchain currencies and Ripple, will fall for this scam.
So thanks for bringing this up. It is our duty to educate the public.