Ripple Hate: Is Ripple a Wolf in Sheep’s Clothing?
Ripple Hate: Is Ripple a Wolf in Sheep’s Clothing?
Cryptocurrency purists have always judged new coins by a few important factors. On top of that list has always been decentralization. However, one of the bigger coins in the cryptocurrency market has been hiding in plain sight with its centralized nature. But, its recent boom that saw it finish last year as one of top performing crypto assets has seen it garner a lot of hate.
What is causing this Ripple in the market?
Ripple, a token created by the company of the same name that aims to facilitate transfers between major financial corporations. In this goal, it has seen much success over 2017 with a few major banks partnering with it.
Thank you for posting
Fantastic topic!
When my money was new and I wondered which alt coin would be a good bet, I heard "backed by banks," saw its position in the top 5 market capitalization, and found that it was pennies a coin so I could easily buy thousands of them.
I think it is as simple this initially. Then, it is easy for the traders to pump and dump with the volume of new money even they know it is decentralized and premined.
I don't like to support it in general but a little scalping for simple profit is a lesser evil.
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I've noticed that the price of Ripple has been dropping and I suspect that it has something to do with the fact that people are waking up to the reality that it is not a decentralized commodity. It's 2 fold in why the price is dropping. 1stly because true crypto enthusiast who are in Ripple understand that it is just as worthless as fiat currencies. 2ndly the owners are realizing that they cannot contain the leak of info about it being decentralized, are trying to drop its price to learn the untrained crypto lovers. This is such a dangerous yet exciting time. What a time to be alive...