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RE: Prediction: Ripple is about to BURST
See my recent post on this topic and how Ripple is causing all the Bitcoin Zealots to have tantrums and cheer for its demise because it challenges their purist religion
Wha???!! The whole issue about cryptocurrency came about as a result of the CENTRALIZED and untrustable(not a word) nature of banks, cryptocurrency came as a response to our pleas, you clearly dont understand how or why ripple going up is bad for the cryptocurrency community. It has the backing of banks, the same greedy set of people we are trying to avoid.
The whole concept of cryptocurrencies came about due an experiment in exchanging value called Bitcoin. The idea was to create a decentralized model for exchanging value based upon scarcity and invested work. An assumed reason for doing this was to allow value creation not to be exploited by governments and especially central banks that essentially do legalized counterfeiting on a regular basis.
You are now associating this philosophical central bank opposition with a business service, Ripple, that creates a set number of coins and provides well defined clearing and settlement through a blockchain simply because they are also selling this solution to banks. This is equivalent to saying that anyone that sells their solutions to banks must be "evil banker scum" too. This is frankly preposterous. If I produce furniture and sell it as well to banks, am I also an "evil" banker because I sell them furniture?
Let me add another point to this. Do you not think that Steemit is a business? It's not some benevolent community. Steem is centrally created within the Steemit platform (run by a business) and they can produce unlimited numbers of Steem (as far as I can tell). This is even worse than Ripple because they can inflate it as much as they want. This inflation is the problem with central banking everybody hates. I don't hear anyone protesting the Steemit business and the Steem inflation potential.