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RE: Do you know the drawbacks of XRP before you buy it?!
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