US Dollar and Ripple both use a “printing press” — both inflationary
Source: https://www.investopedia.com/news/why-some-claim-ripple-isnt-real-cryptocurrency-0/
Bitcoin/Litecoin and Ripple maybe cryptos but they are not the same at all:
Bitcoin / Litecoin etc — are designed to be a peer to transfer of payments and LIMITED in quantity making them DEFLATIONARY — meaning as more people use and more greater adoption the price goes up. Bitcoin will only ever have 21 Million coins = scarcity. And it is DECENTRALIZED which goes to the point that people do not trust the current system.
Ripple - is owned owned by the banks and Ripple corporation. It’s not decentralized. The Ripple Corporation created 100 Billion coins and more can be “printed on demand” — there are no miners as in other true crypto currencies. Ripple’s main application is to be used as a exchange platform for the archaic banking money transfer system. Today people sometimes have to wait days to wire money from point A to Point B.
Bitcoin admittedly is slow and expensive today...this is to be changed with the Lightning Network.
Litecoin is very fast , deflationary as a crypto and can be used for micro payments.
I get it why people are pumping Ripple right now...they are looking for quick return on money and trade it.
To each their own - everyone is free to do as they please of course.
But some people think that cryptos like Bitcoin are like Ripple and this is far from the case.
Long term, I think banks are going to have problems with the effect of a lowering dollar and the bond bubble eventually breaking —- so the banks themselves will have ther fed lifeline at risk which would undermine their solvency.
Bitcoin / Litecoin are not tied to a Banks....you can see how the banks have helped Venezuela, Greece and others. You can see China and Russia to lead initiatives in non-dollar oils trading which is 20-30% of global oil trade which = less dollars.
You can see why there is a long term trend as one system “goes down” ...the “other system goes up”.
#bitcoin
none of them would have guessed bitcoin prices right now
good post friends, I like
Thank you
A centralized system, by definition, is not a blockchain but, rather, a database.
Ripple and what the banksters are setting up is not a blockchain, a technology they hate. Hence, their embracing of Ripple since it is something they can control.
I wrote an article about this earlier today in fact. This just reaffirms what wrote.
Great find.
Thank you. What has taken over the crypto space to “trading” for quick gains and betting on cryptos not even available...yet.
I have switched over to buying bitcoin cash. Cheap fees and extremely fast. Like bitcoin should have been.
Good luck my friend :-) Something to think about, when BCH has a massive number of transactions will they have the same scaling issues, will transaction fees go up then? Time will tell of course. IMHO every crypto will face the same issues as BTC & ETH and that is scalability, speed and fees. This what everyone wants to promise —- we will see.