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RE: Why Ripple Token (XRP) is Terribly Overvalued
I think you are missing the whole point with the scarcity bit. If it were actually scarce you might run into problems. But it order for people to feel it will have value in the future it needs to be scarce. How do we get the best ob both but without the downfalls. Its a game of psychology pure and simple.
Over 70% of the total XRP supply is owned by Ripple, they are free to wash trade it and dump at will like they did last year selling over half a billion dollars in tokens. It will never be scarce once people realise its a useless token and stop listening to the XRP hype crowd.