Do you know the drawbacks of XRP before you buy it?!
credit : NikolayFrolochkin
First of all, Ripple does not presume to overstate the need for banks so that he misses the goal that is not dictated.
Ripple works with banks! Not that it's a bad thing.
But if you're looking for Bitcoin's replacement, that's not it.
who is holding the rest of the XRP? that is right guys! Ripple.
Ok, then Ripple intends to scatter in 2018 55 billion coins by contracts.
Into secure escrows account
They intend to release slowly to trade for 55 billion coins (all theoretical) at the moment the price is quite in their control.
Each month will be released as billions of coins for 55 months
BUT WHO KNOWS?!
Every deal you make today in XRP goes through?
That's right Ripple!
Ripple has a special list of nodes
UNL (Unique Node List) every single transaction is going throw them (like with the milestone in IOTA but little different)
Ripple announced at least that by 2018 they will not hold most of the validators
But who knows ?!
Ripple is an amazing currency .
I am also presenting his negative side so people can think of their investment.
I do not know friends but Ripple smells like an intermediate stage between a decentralized world and a centralized world which is a good thing by the way...
Despite their statements making Ripple more decentralized than Ethereum and Bitcoin.
Ripple is decentralized and it will be there if Ripple company will close their doors...
But all the things we mentioned above make Ripple less decentralized and more centralized!
source:
CRYPTOPOTATO-Hebrew.
Thanks for the review Noam! people should be aware of the ripple's contact to banks and large companies and it implications on uncentralazation.
I would like to point to a critical point that has to be noticed:
There is a rumor that banks use the technology but not the XRP token itself, but - accordong to multiple sources:
The banks and companies that are "using ripple" are actually using ripple's blockchain technology, AND the XRP token so you do can consider it when you think about an investment in the XRP TOKEN and it might really encourage you to do so.
why? the whole point is being decentralized..
You are right - our point as crypto people is to be decentralized, but the fact that bans are using it in a big scale and the massive premise etc. Makes the whole thing much more centralized, that's what I meant in my comment.
It might be a good investment, but as to decentralized value - the impact of the bank is negative on decentralization- that's what I meant. Maybe I did not phrase it too well 🤗🤗
Banks use the protocol not the token itself and banks use a private blockchain and not the public one making the coins themselves useless in every perspective
@amiramnoam - You make a very valid point about the lower decentralization of Ripple. As you have correctly pointed out, Ripple has already made tie-ups with many banks to provide them blockchain based transaction services for crypto-currency. Therefore, bankers are closely associated with XRP. If the conventional banks get together and decide to do so, they can certainly influence XRP.
Thanks for the heads up. Your article confirms my decision not to hold XRP and gives me peace of mind. Upvoted full through Steemfollower.
Regards,
@vm2904
Because Ripple supports banks, People don't like investing in it and I don't think we'll see a very bright future for it.
I bought some when it was valued at 1.01 and sold it yesterday at 2.4. I'm happy for the revenue I made and I'm not sorry I sold it even if it will go to 5.
יאיר יא תותח!
גם אני לא מצטער שלא קניתי..
הם מזכירים לי את וויזה..
מסכים איתך! עשיתי איתם אחלה רווח בשבוע והעפתי. לא נכנס אליהם יותר.
Nice work that's how you make money. Take profits when an investment goes up 8 fold+ in a ridiculously short time. The pullback here is going to be steep. I think the conviction in XRP holders is far less than SBD holders. Not saying that as a cheerleader for SBD, I just think a lot of people in this are following the climb up. They probably got the tip from their bank affiliated person or investment person that knows everything. So there will pants soiling and a run when this pulls back. Nice post glad to see you are wise in this trading platform and letting the volatility work for you.
For what it's worth, I was talking to some friends on Friday on the best cryptos to invest in, and Ripple (alongside Iota and Cardano) were the top 3. Does it mean now is the best time to buy? Not necessarily. But Ripple has actual foundation and support behind it.
Speaking of which, while Steem might be a solid investment, everything around SBD marks it as something you don't want to hold as an investment, from lack of external value, to small volume and market-cap, to downward pressure by a supply only looking to sell. It's guaranteed to always be worth $1 worth of Steem, but that does nothing when it costs you over $1.
Interesting thoughts thanks a lot @geekorner
ahab you sold it ?? and got good amount of revenue sir @yaird
by the way great post @amiramnoam
You summerized it nicely and precisely.
I do think ripple can be usefull, specially in the near future, before cryptocurency takes over.
Maybe it's dufficult for us because it's still connected to system, like @yairdd said.
But it will grow (and now the crypto market gets fluded with peiple which doesn't value the dicentralize idea as much as we do. Making it much more popular)
that is the point that im trying to write here..
STUPID MONEY.
OR FOMO "fear of missing out"
Exactly.
And in the tiniest drop they will sell it all
Ahhh, the price is shooting up to the moon like a rocketship? Is that the drawback? I started buying at $.25. I'm having a hard time seeing any drawbacks (except that I didn't buy more!)
Whatever u have stated is absolutely correct my friend. Its going to do the opposite of what we want Bitcoin and other cryptos to do. But u never know in this crazy world of cryptos, anything is possible. With many large banks signing up with ripple, the future look bright then we think. I have also missed out on investing in ripple earlier this year when it was at 20 cents. But after such a parabolic move i think it would surely correct to atleast 1 dollar post which it could be an attactive investment for 2018. Regards Nainaz.
#thealliance
the peoples are more strong then the banks evetually and combine it with the tech of blockchain so the decentralized financial world can come true.. it's even stronger .
To be honest, I think that the most of the XRP buyers are people who want big easy money, and not a believers, as each XRP holder want us to think.
It's not bad, but it makes me wonder about the future of that coin.
But as we all know - no one can predict the future of the crypto :)
I think when investment is concerned, there is a need of finding deep knowledge of the proposed cryptocurrencies that can play as alternatives for bitcoin.
On your post, I got confused somehow, but I finally got what you are meaning. On my view I think ripple has advantages and disadvantages as you have just said but the investment decision matters.
I think people are not more concerned whether ripple is decentralised or not or it plays as a middle part, the most interesting is to find if ripple if reliable and profitable.
Moreover, if it is centralised then that is a big mistake ever due to banks and human beings manipulation, but would prefer it to be decentralised so as to prevent all the possible financial risks in the transaction market.
My view .
Thanks and happy new year
Thanks for sharing the detailed background of the Ripple, it will help people before investing in it.
Have a great day and stay blessed.
It's funny how people seem to invest more in xrp since the btc is falling. Why do you think this is the case?