The truth about Ripple

(((spoilers)))

sigh...

XRP, the token is subsidized and incentivized with rewards and insured against against spread by Ripple and will be successful in the way KCS and BNB are successful

ripple.com/files/xrp_overview.pdf

XRP is NOT a cryptocurrency, it is an electronic token, created and backed by a single company:
Ripple Labs Inc. – a global money transaction business.

It should be noted that there is a distinct difference between digital currencies like Bitcoin and Ripple’s XRP tokens. While Bitcoin is an actual cryptocurrency and store of value, XRP tokens are essentially backed by traditional (Fiat) currencies, as if they’re dollars or yet or another form. XRP is not intended to be money in the first place, it is a medium of exchange to transact value. It can be seen as a giftcard or token that can be sent in seconds & redeemed for fiat money.

When Ripple Labs Inc started XRP in 2012 they “created” 100 billion tokens out of thin air. Of the 100 billion created, 20 billion XRP were retained by the creators, who were also the founders of Ripple Labs. The creators gave the remaining 80% of the total to Ripple Labs which intended to redistribute remaining tokens to ecosystem supporters like banks.

However Ripple Labs today owns the vast majority of XRP (over 60% of the supply). It is their sole decision to cash in on the value or completely devaluate the market by flooding it with cheap XRP.

Another important issue to think about: It is easy to manipulate the market if one group controls 60% of the supply. It opens the gate for widespread manipulation. We do not know what those individuals do with this high valuation, but regardless, you are at the whim of a powerful 3rd party with uncertain goals.

If 100% premine aka “creation out of thin air” with 60% of the total supply being in possession of the creators is not enough for you to shake, lets go on…

Unlike Bitcoin, Ethereum, Litecoin and 90% of all cryptocurrency blockchains, Ripple is a relatively closed blockchain. Through some effort, users can go download a wallet and transfer Ripple to it, but you have to create trust lines with other organizations in order to get access. In this way, you can’t just send money to whomever you want, they have to accept you as trustworthy before allowing transactions. In other words, they control the servers that allow transactions. Isn’t that what centralization is all about?

When Bitcoin was originally created, it was designed to be a store of value. When you created a transaction, you were sending a store of value to another account (for payment for goods and services). Miners created nodes on the network to process transactions and were compensated with this cryptocurrency, either through fees or mining rewards.

This is not how Ripple works. Ripple has no mining or miners whatsoever. Instead, transactions are powered through a “centralized” blockchain to make it more reliable and fast. XRP was mined all at once by the parent company, with a majority of the cryptocurrency held by them. This is basically the pure definition of centralization:

Centralization:

“The concentration of control of an activity or organization under a single authority”
“The centralization of all financial power in the hands of its leaders”

In contrast, a defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

More than anything, Ripple resembles a fintech platform which has simply combined the best elements of fiat money and blockchain cryptocurrency.

Each year 10% gonna be destroyed, do the math...

It therefore should be considered Digital Fiat, not a cryptocurrency.

The Price You Pay

As previously stated, you are likely paying a price for the profits you make through XRP.
Lets examine:

You invest your hard-earned Fiat or BTC into a token for which Ripple Labs never paid a dime to create. It cost them literally nothing to create the tokens people buy today at $4 per piece. 100% of the tokens were created out of thin air, while the majority of the supply is still in control of Ripple itself. The network is privatized, meaning that not everybody can participate in the systems, as trustworthy nodes are “selected”, which is the basic definition of centralization. If we think that further, in actuality you are buying worthless air, and make the creators incredible rich at the same time, while hoping someone will pay you more for the air of yours than you paid for in the first place.

stupid

novo.png

I’m sure Chris Larsen is pretty happy about your Ripple enthusiasm…

Don’t fall for the hype. Do not focus on making money solely, there is more at the stake than just monetary gains. And it saddens me deeply to see that most have no clue about what is going on in the backgrounds. In my subjective analysis and understanding, Ripple is a trap, and if you currently hold XRP, you are right in it.

If we think that further for a minute… if Ripple controls the “nodes” and are theoretically capable of denying specific transactions, what is the difference to traditional Fiat system we are currently entertaining? It is nothing more than Fiat 2.0, the re-creation of the old system supported by new technology. Same story, just a different disguise. And while everybody gets rich by investing in XRP you unconsciously support this system of Fiat scam that has already been entertained for decades and actively help to push it on a whole new digital level.

You don't know what business contracts or escrow is. Quit this FUD. Your BTC is dying, you missed the moon mission. Suck it up, faggot. Ripple is not going anywhere. It's in the top 3 marketcaps for a reason.

Think it through. Blockchain is a completely new tech, and no one is fully capable of realizing its impact on humanity in 50-100 years from here. There is guesses, but there is no certainty. The reality is, we can use this technology either for our collective liberation, or we will end up in a global state of surveillance, still controlled by a tiny group of wealthy and powerful individuals. WE choose what we will become, collectively.
Hereby our money is our vote. By choosing to invest in certain blockchain projects, we also financially support those ideas that will eventually manifest and shape the New World. If you want to support an improved version of Fiat Scam, you can do so, but i ask you to do it at least consciously so that you can understand the impact of your decision, even if it is 50 years from here. We all plant the seed for our future right here right now, individually and collectively. In due time, the seed will either flower or degenerate.
It is up to us to decide.
I want you to understand that this article is not driven by self-interest. I do not hold any XRP, nor do I desire to get a position. Nothing in this article is meant offensive in any way. I do not claim to be 100% right about everything when it comes to Ripple, but I gathered have enough indications and red flags to not be invested nor recommend it.

This article is purely driven out of the feeling of being responsible for what happens to and around us. All I am here for is to observe and make sure the transition into the New Age is going smoothly. It is also the logical consequence of the ignorance currently entertained in the market, where the many participants (especially new market entrants) are incredibly blinded by greed while not question fundamentals whatsoever.

Eventually I have nothing to gain by publishing this article, rather the opposite. Despite the obvious risks, I open myself to the shitstorm of XRP believers which is no fun to have. But that is the price I pay, and I do it consciously, because I know the reward will be the truth told, which has more value than any monetary gains in the first place. My hope is my subjective perception eventually leads others to question and investigate for themselves and shape this world to a better place by sharing their subjective insights and truths with everyone willing to listen. This is not about being “right”. This is about awareness and conscious decision-making.

Another thought: If XRP is used as a medium of exchange and is backed by fiat currency, while Crypto is the hedge against the global financial meltdown of fiat currency, isnt that an obvious conflict in there? If the economy melts down, which is a matter of time, Fiat becomes worthless anyway. What use do we have for a token that is used as a medium of exchange between Fiat currencies when Fiat currencies will eventually evaporate? Lets spin that further: IF Fiat currencies collapse, wouldn’t the trust in banks go completely extinct? Would there not be a giant outrage against these banks that manifested this situation by entertaining a economic model that creates more debt than money to ever repay it, while keeping it all hidden from the public? Would this outrage not negatively affect a system like Ripple which aims to make banks even more efficient in distracting wealth from the world’s population? While the whole world sinks in debt which cannot be repaid, while your income steadily decreases and your money gets more and more worthless every day as the FEDs printing machine is running hot, you give them the only thing that really matters when it comes to financial freedom in the future: Your precious Bitcoin.

In my subjective opinion, by supporting XRP we work towards the opposite of what we are trying to achieve in a decentralized world, to give the power back to the people to take it away from the bankers, the 1% of the 1%ers, who control this world.

If you only take one thing from this article, take this:
“Money is a vote. You decide what will grow and YOU will shape the face of this world for the coming New Age. Be responsible, be conscious. “
Lets wrap it up and come up with a conclusion:

XRP is 100% premined, Ripple holds 60% of the supply, controls which nodes are selected as “trustworthy” to confirm transactions, while they have paid nothing to create those tokens that people are so willingly buying at $4+ per piece and thereby make the creators insanely rich. Let us call it what it really is, digital fiat, the renewed version of the debt-based traditional fiat system, leveraged by latest technology – which eventually has nothing to do with cryptocurrency whatsoever.

And to reflect on it using Mr. Brandt’s words(pic related)…

When it comes to Ripple, just ask yourself… Who is the few? And who is the many?

May the Truth be with you.

plz b a trap

>TL;DR - I MISSED THE BOAT AND I FUCKING HATE MYSELF

/thread

There is nothing to know. It's a tool for large institutions to get into crypto for free on the backs of retards who don't know what the fuck is going on.

People buying into XRP think its a part of this new economy when it couldn't be further from the actual truth. Profits in crypto want to stay in crypto and XRP isn't a crypto.

...

>comparing XRP to exchange tokens that actually give holders stake in fees and reduction in fees. Whereas Ripple is under no legal obligation at all to XRP holders

Except you forget that ripple is the only coin that believes in Black lives matters and has actual people of color investing in their shares. Tron is acceptable too. Bitcoin, on the other hand got infiltrated by our oppressors and benefits the white man when black people buy it. I cannot endorse a coin that advocates white supremacy.

HOLY FUCK BIZ. Is this true?

I feel fucking red pilled

This is why I will never support it and encourage others to never support it, XRP isn't cryptocurrency it's just the test bed for a global one world currency completely controlled and monitored by banks. It's only value is if we're forced to use it.

But I trust them, user. Bankers have never fucked over people, not once. 2008 was just a simulation, same as all the bankruns in the past and boom and bust cycles caused by banks. The world was created yesterday.

Its a fucking SCAM!
AHAAAHAHAHAHHAHHAHAHHHHAHAHAAAHAHAHAHAHAHAHAHAHAHAHAHAHA!
Should have bought REQ faggots!
>huuuuuurrr REQ is ded duuuuurrrr
OH NO NO NO NO
*inhales*
AAAAAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!

>When Bitcoin was originally created, it was designed to be a store of value
Have to stop you here. Bitcoin was created to be a peer to peer electronic cash system. If yo support Core that's fine, but lets not pretend Bitcoin is working as attended.

It was meant to be a currency. Currencies are stores of value. You're just being pedantic.

Currencies are NOT a store of value. They are a medium of exchange.

Ripple doesn't even honor contracts with its partners and you expect them to give a fuck about you?

fortune.com/2017/10/13/blockchain-ripple-r3/

RETARD ALERT: CRITICAL LEVELS DETECTED ITT

...

R3 didn't honor their side of the deal but tried to cash-in when XRP boomed. That's why their claim didn't hold up in court.

Fuck off, Ripple h8rs truly are some of the most low IQ faggots on this board.

Disregard XRP, wait for the Ripple IPO. I'm not saying you can't make money trading XRP it's just dumb.

Here's the truth:

RIPPLES GONNA TRPLE

Store of value is a secondary feature to utility. Bitcoin's utility is trustless permissionless peer to peer cash, from that it becomes a store of value. Bitcoin is unable to perform on its intended purpose which is why its falling and other cryptos are coming up.

People buying XRP right now just know that it goes fast and believe it solves all the problems in crypto currency. This has happened at least 3 times in XRP's history where people think they are buying into something amazing that solves all of bitcoin's problems, until they eventually figure out they aren't buying crypto and XRP tanks again. This is great for Ripple Labs though because they get to make literal billions in the process dumping their reserves.

R3 argument is essentially the same.

and?

Ripple is for banks, XRP is for banks, do people invest in stocks when they don't get stake? and do those stocks succeed?

>do people invest in stocks when they don't get stake?
Confirmed retard

XRP is by definition a cryptocurrency. Anything saying otherwise is arbitrarily defining what a cryptocurrency is.

underpated roast

Anyone*

I just noticed this pepe trump
I think it's the first time I see this img full size

Uh no it is not BY DEFINITION. Either call it digital fiat or a token. NOT a cryptocurrency.

Has this sow an hero yet?

It fails to even meet the definition of a crypto within the first sentence:

en.wikipedia.org/wiki/Cryptocurrency

And because ripple is not a cryptocurrency, it will never show up on Coinbase either. :)

stfu

> Hold my Shekels.

>all these institutions that are getting replaced by crypto currency

The only people who buy XRP don't know what crypto does.

Using the Ripple payment protocol, which doesn't involve Ripple the cryptocurrency at all.

Why are you posting that picture it's irrelevant

You should read white paper once in your life

Normies and investors don't care about crypto or Satoshi Legacy, only profit matters.

We are on Veeky Forums not on /pol/ or /x/ so stop spreading fud and read White Paper.

Someone needs to get like some C-Tier celebrity to read all the Ripple hate, record that then out it on an album with Christmas music playing in the background. Could make a lit of money with that I bet.

This.

This is Veeky Forums not /satoshiland/. we're here to make fucking money.

Its an entry scheme for big banks. A way for them to sneak into crypto and buy up the market.

Jewple bruh

They actually do. People doing business in this space care a lot about crypto currency and profits taken from projects won't be going into XRP. Greedy retards who flood one particular shit token based off Twitter hype don't fundamentally change anything that's happening here and will be left holding a very heavy bag. However its not all doom and gloom. Since the only idiots who buy this cannot into opportunity cost, they'll see their USD value stay within the $1-2 range for the next year and think its all good, while their sats value crater. This has happened at least 3 times in XRP's past.

1 post by this ID

See:

You must understand Ripple Lab is like Microsoft and they produce XRP a win/win product for normies/bankers and techy enthusiasts using Satoshi papers.

Crypto enthusiasts is a tiny world like Linux world, only for techy or NEET.

When Ripple gonna win and they do, Bitcoin and Shitcoin don't disapear like that.

Ripple gonna be a gate to Crypto World.

People have been saying this here for as long as I've been here.

In addition to being a digital, centralized, chuck-e-cheese token, it also has billions of coins in circulation. Any profits you reap purchasing from this point forward wont lead to any significant gains relative to the rest of this market.

>XRP requires production
>analogies are arguments
>Ripple is a fiat gate to crypto not Coinbase
>XRP isn't going to crater in value like the previous 3 times

tl;dr should i buy or not?