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RE: Ripple: The whore of Wall Street?
agree with @diezeldiddy
None of the crypto tokens will replace fiat currencies. There is a prediction out there that 2018 will see first digital money issued by a Central Bank with multiple countries working on this.
What's your take on Stellar then (co-founded by Jed McCaleb who was heavily involved in Ripple and also original creator of Mt. Gox)?
@verto0912 Let's make it simple... I don't want to talk much about Stellar because I'm not familiar with the project, but what I can tell you is that as a crypto-die-hard fan I'm not comfortable with any crypto that helps banksters continue to rape us. I'm not comfortable with a fully premined cryptocurrency and when almost all the tokens are still in the possession of the company, which by definition centralizes the control of that crypto.
true that @zmzngrg, Ripple is a centralized token. Here's Charlie Lee saying just that on Twitter.
can't change the world overnight man. If the bankers get rich solving an actual problem for the rest of the world (i.e cheap and fast money transfers - costs a fortune to send money to my folks in Ukraine) then so be it.
@verto0912 Yes, unfortunately you're right about that.
I'm hesitant to say too much about Stellar because I haven't researched it much, but as far as Jeb, I am leary. Now, this is from a third person perspective, but he was part of the problem when Mt.Gox went down and the many problems plaguing it that led to the theft. Now I don't doubt he as extensive crypto knowledge and could be a valuable asset to a team like Ripple, but leading his own project is different. He allowed Mt.Gox to be so vulnerable and instead of putting a halt to it and fixing issues, he plowed ahead as the honeypot of money flowed. Either he was purposefully unethical or irresponsibly ignorant. The leader of a project carries a weight and I like to think he learned from the mistakes, but with Steller taking off.....that's a fuckton of money and dwarfs mt gox. He could make the same mistakes or be consumed by the greed. After all, he still makes a ton no matter what. Granted this is just my take and I don't know Jeb, nor hope that this is true, but it's just my take.
@diezeldiddy you are misinformed. Jeb started Mt. Gox but sold it as soon as he realized the regulatory and legal issues with running the exchange from the US. Mark Karpelès ran it for like 2 years, I believe, before it collapsed.
@diezeldiddy I couldn't agree with you more...