January 5, 20187min1116

Why Ripple is against everything true Crypto community stands for.

Early innovators and investors, saw the technology behind Bitcoin as a global evolution of how we manage our wealth and conduct business, in the day to day lives. This technology called blockchain is greater than invention of the centralized internet because it is decentralized. Blockchains are politically decentralized (no one controls them) and architecturally decentralized (no infrastructural central point of failure) but they are logically centralized (there is one commonly agreed state and the system behaves like a single computer)

Three main reasons for Decentralization by Vitalik Buterin founder of Ethereum

  • Fault tolerance— decentralized systems are less likely to fail accidentally because they rely on many separate components that are not likely.
  • Attack resistance— decentralized systems are more expensive to attack and destroy or manipulate because they lack sensitive central points that can be attacked at much lower cost than the economic size of the surrounding system.
  • Collusion resistance — it is much harder for participants in decentralized systems to collude to act in ways that benefit them at the expense of other participants, whereas the leadership of corporations and governments collude in ways that benefit themselves but harm less well-coordinated citizens, customers, employees and the general public all the time.

Crypto community was all about immutability, public ledgers, anonymity, bypassing third parties and banks; in order to re-distribute the global wealth and regain financial freedom and independence for all of humanity.
If everyone becomes his or her own bank without any intermediary parties having control/power over your monetary assets, this is real freedom. At least in a monetary sense.

The biggest scam in human history: Debt-based Fiat currency, was threatened by the smartest ”geeks” on the planet.  When I say scam I mean Since Nixon took the Dollar off the gold standard, it is worth noting; more than a value of the paper it is printed on; same goes for other FIAT based currencies.

 

And Cryptocurrencies like Bitcoin fought against, this monetary system, and then came human greed. All those flashy ”lambos” earning quick bucks cliche millionaire dreams and the ”banksters” took advantage of that.

Do you know who owns the most Ripple in the world? Who is selling it? I think you realized the answer by now, but just for sure, I’ll answer the question. Banks.

What are we witnessing is reversing the massive wealth transfer, The banks know that they cant stop BTC and ETH, so they changed the tactics, they started to accumulate as much BTC and ETH as possible and they don’t want to pay the full price of course. So their plan was to develop XRP, Hold most of it … Artificially manipulate the price by bidding it up, $2 -$3 … And when the greedy bastards washed by sheepherders think it will keep going up $4,$5,$6,$7… they are trading precious limited decentralized Ethereum and Bitcoin for a SHITCOIN that was printed on a demand…

In the end, banks will win. Because of human greed, they are the gready bastard too, don’t get me wrong but they know how to control the masses and miss lead them. They are doing this for more than a 2000 years. They will end up holding most Ethereum and Bitcoin and you will end up holding a SHITCOIN. And then BTC and ETH will head up to 1M and $500k per coin, and you will end up holding Ripple, basically worth nothing…

XRP 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.

Fun fact!

 


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