Is Ripple In Bed With The Enemy?
Is Ripple getting in bed with the enemy?
As many of you may know by now the best part of the emergence of cryptocurrrency started via Bitcoin's Blockchain circa 2007 was the fact of it being decentralized. It therefore was the antithesis of banks and The Federal Reserve. With the explosion of so many cryptocurrencies now in existence, new laws are trying to be enacted that would upset that structure.
Ripple is now positioning itself to take on the mega power of Bitcoin by enlisting the backing of some of the worlds most powerful and oldest banks. Among those banks are Bank of America, BBVA (one of the worlds top 50 banks) and Santander (which was founded in Santander, Spain over 200 years ago). This is the bank that I worked at for 2 years in New York. You can read more about it here:Article link.
So my question to the community is this: Do you think that Ripple will be a saving grace for our community, or will it allow for easier restrictions and laws that will be enacted to thwart what we all like about cryptocurrency? Mainly the fact that it is decentralized.
I'm eager to hear your thoughts on the issue. I'm sure it'll be coming up more and more soon.
I don't see the banks as the "enemy" myself. I think we all want mainstream adoption of cryptocurrencies in general. Getting banks on board would be the quickest way and I think they can help the crypto space more than hurt.
I like the crypto space, but if we were to take an honest look at it, it is fraught with problems, and if a country had a currency with these problems and asked the world to adopt the currency because "its the future", the world would laugh at that country. Crypto has to fix these things before the mainstream will ever adopt it. Banks could only help with this.
The banks have no good intentions, other than to steal from you and me. So they are 'the enemy' as far as I am concerned. And Ripple is created by and for the banks, so do the math.
I don't want to have anything to do with that.
Yes i belive its the banks way of taking back the power the bitcoin took away.
Its not a true crypto as it is centralized and controlled and pre mined. I think the price will also be controlled by the banks
Bingo! That was my thought as well. I worked on Park Avenue in NYC for most of my life in entertainment law, banking and property abatement, and one thing I know is ;The super wealthy have tons of loopholes (ala Mr. Trump).
Hey stonesteem, I think ripple could maybe one of the solutions for the corrupt banking world. They have to become more transparrant, due to the blockchain.
It might be to a certain extent, my concern is that once the banks (and the Government) get involved, there will be repercussions regarding how digital currency is taxed and readily available to the general public ( as it is in it's current form.
Always was the bankster coin.
Well, they are basically the only ones working with banks instead of against them... if you would call banks the enemy then I guess Ripple is in bed with them.
Doesn't have to be a bad thing though. Ripple seems like a great company doing great things. But they should really try and get their marketing in order when it comes to the use for regular customers like us of their XRP.
Ripple and XRP are basically two different things.
Thanks for the reply! Yes, at this point, I'd consider banks the enemy. They among other things, are the reason that we have been ambushed by high fees and excessive fraudulent practices, which they of course get away with. We'll have to see how it turns out and to what end.
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