[OPINION] Why it's OK for Ripple (XRP) to not be open

in #cryptocurrencies6 years ago

NOTE: This is a personal rant, and my own opinion. I'm not a professional in any way and started investing in crypto just after the summer, and the text below is just a result of my own observations and opinions.

There is a lot of complaints and skepticism on how Ripple is a closed source system, only used by banks and not decentralized, all that jazz. This shouldn't be a reason to not invest in it regardless, plus I doubt the people dumping their money into it care about the whether it's open or not.

Whether it's an open system or not, shouldn't be a factor and I'm pretty sure people investing in alt don't care about this either. If you look at Bitcoin for example, it's an open sourced system, but more than half of the network is owned by a few groups which makes it susceptible to an attack. So just because a currency/coin is open source doesn't mean that it's a better system.

HashDistro.png

The fact that Ripple has been a running business with a great software, and they're in the process of acquiring major players (Banks, Western Union, etc) is a big plus and should be treated like a company stock. It's got great potential, and getting good traction.

Please share your thoughts, as I'd like to know what others think on this matter too :)

Sort:  

Hello @la7me, upv0t3
This is a free service for new steemit users, to support them and motivate them to continue generating valuable content for the community.
<3 This is a heart, or an ice cream, you choose.

:)


R4ND0M:
6102 1290 6543 4068
3037 6323 1199 2227
1699 8294 4806 7309
9189 9267 3184 5917

Congratulations @la7me! You received a personal award!

1 Year on Steemit

Click here to view your Board

Do not miss the last post from @steemitboard:

SteemWhales has officially moved to SteemitBoard Ranking
SteemitBoard - Witness Update

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @la7me! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.20
TRX 0.12
JST 0.027
BTC 64187.97
ETH 3476.17
USDT 1.00
SBD 2.49