ripple (Global Settlement Network - Bankers Coin)

Released in 2012
Symbol: XRP
Source: https://ripple.com/

Description

ripple is a private cryptocurrency made for banks to send money to each other. Yes, you heard it right. It is owned by a company and the company releases it to the market as it sees fit. It is disgusting.

Supply

• 100 billion XRP were created at time of release.
• Ripple has no competitive mining, it is distributed by Ripple Labs according to what they see fit
• Currently, they putted 37 billion in the market
• 20 billion were said to be retained by creators - Ripple Labs

Mining

Forget about it, ripple is a private cryptocurrency, it is released as the company desires.

Current Value

On CoinCap.io (May 9, 2017): U$ 0.18

Special Features

• No special features, we don't even know if the blockchain is real. The ledger is said to be public but transactions are not. For what we know, they could be totally artificial to do whatever they want to show for the market. It is not a cryptocurrency you can send and receive, there is no wallet. You need to be a bank or something like a bank to transact with it. Users need to be KYCed there in these places to trade it.

Major Advantages

• For banks, obvious advantages, right?

Major Disadvantages

• OMG, for mere mortals? So many.
• You don't know what you own. You are dealing with a totally private blockchain.
• Ledger exists, apparently. But transactions are not transparent. It is the total inverse of bitcoin. ripple totally subverted the decentralization concept.
• KYC to the banks so the banks may act non-anonymously and you look anonymous but is not.
• Keep founding bankers with ripple, actually, even more than before since they now have a way to transact for free and charge you while you could do it with a public blockchain you choose.

Do you like ripple, Jeff Berwick?
@dollarvigilante

---

EDUARDO CAPANEMA
@bitworkers