Crypto Update: RIPPLE the great and abominable CENTRALIZED WHORE leaves Etherum in a cloud of smoke!
Ripple expands its market cap from 2 Billion to 13.9 billion since the first of May. Thats a massive 11.9 billion gain in less than a month.
Ripple is still reaping in the rewards of the news that a major Japanese bank with use the transfer service. Ripple also has given its self a commanding 5.2 billion lead over Etherum. Etherum has seen gain since May 1 starting the month at $77 and now resting in low $90's. I think most of the Top 10 are in ripe of a down turn after having an extend run up to new highs.
https://coinmarketcap.com/currencies/views/all/
Market Cap Price
#2 Ripple $13,909,245,859 $.363
#3 Etherum $ 8,709,788,440 $94.97
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That picture is literally true.
In my opinion Bitcoin will fail. Can you trust a currency that is reliant on vulnerable technology?? With the creation of a number of new competing cryptocurrencies being developed and eventually diluting the market. If a cyber attack occurred would your Bitcoin be safe. Would you intrust thousands of dollars to the system? How long before Government infiltrate this technology and causes it to fail? Why would Government do that? Because central banks will not tolerate a currency that they do not have complete control over, thats why. If they cause a failure in the system, then people will lose confidence in them, unless of course the federal government comes to the rescue and offers to insure the currency FDICA baby. Look what they did to Precious metals. The feds found a way to manipulate it and fix it. The banks simply print and sell enough paper contracts to dilute the market. Some say that there are up to 200 hundred paper contracts per ounce of gold. The silver and gold markets are easily moved by the simple push of a computer key. They must regulate it in order to keep the value of the dollar intact. The same is true with cryto. If they let the market run, paper currencies would diminish in value. Is it possible that the cryptocurrency was ordained by the central banks as a trail to see if people would buy into this type of monetary system? But for now enjoy the wealth it has created, just don't think they will let the party continue.