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RE: Bank of England Successfully Tests Ripple's Proof of Concept, Crucial Moment for Blockchain Community
My only concern about Ripple is that it is controlled by the big banks. Will the coin make money? Absolutely! Even so, the whole idea behind block chain technology is to decentralize control. Ripple is the antithesis of this.......
Ripple is centralised now, but going forward it will become more decentralised as it's open source and it's used by others as a platform. I thought Bitcoin was decentralised until recently!
Ripple is the banks attempt to retain some control in the business world. Cryptos have the potential to replace old style banking big time. Some coins like Monero (a good coin to invest in) have complete privacy, while many others do not. The point here, is that if we use Ripple for commercial transactions then the banks will control the whole process. They will continue to enslave us using the old banking rules. Cryptos cut out the banks by allowing peer to peer transactions. I can use Bitcoin/Litecoin etc to send any amount, anywhere in the world, for next to nothing. The bank can't track it, the Govenrment can't track it and they can't tax it. If you use Ripple then you are fair game! This is why Ripple is to be avoided at all costs - sure make some money off of it, but stay away from decentralized cryptos!