Why are bitcoin loyalists bashing ripple
I have been a huge supporter of cryptocurrencies and I dont seem to understand the divide between Ripple and bitcoin loyalists ..yeah obviously ripple is as far from decentralisation as we can get, but there is no denying the fact that Bitcoin is also not as decentralized as we think it is..why i think so..please read my earlier blog post , the link is below:
https://steemit.com/cryptocurrency/@cryptogem/is-bitcoin-truly-decentralized
The fact is we need to remain united as a community..not get fractured by dirty politics played by the media, which is controlled centrally. There is enough space for both ripple and Bitcoin to co-exist.
Guys, please have a broader vision..IMHO, in the next 3 to 5 years, we are going to have a 10 trillion market capitalization of cryptocurrencies..so theres enough space for everyone..no need to have a dog eat dog mentality..
Wish everyone a very happy new year!!!
Cheers!!!
Because the whole objective of bitcoin and the decentralization movement is on separating money and state. Bankers and cryptos are like oil and water - they don't mix.
Very good analogy
Maybe it's because Bitcoin is being exposed as horse-and-carriage tech in the age of the Bullet Train.
Excessive tx fees and 200k tx backlog sounds like the internet circa 1995 when I used to connect with my 28.8k modem.
Over the weekend, I made 2 purchases, one with BTC and one with BCH. The Bitcoin transaction cost me $40.00+ in transaction fees and took over 6 hours for confirmation. The BCH transaction cost me $0.03.
Need I say more?
You could have read up on transaction fees to save yourself the cost. Are you promoting BCH or XRP? I prefer BCH.
Enough said.
Because the banksters are not committed to using XRP token. They will Ripple, but in private blockchain format.
Everyone buying XRP tokens is going to be sorely disappointed when they find out, when they learn, when they realize, that the banksters never had the faintest concept or plan of sharing profits with the common man.
Banksters business is based on shaving points. That is the basic business they are in.
They aren't going to use a public token like XRP, as a tool in their point shavings product offerings.
I agree there will be many different blockchains, that survive to offer different values and services to many different niches.
But when the XRP token craters, that will cause some negative blow back on the crypto community.
Which was avoidable if people had done their own basic research before putting money into XRP tokens.
The ripple technology is a tested product. Its been used for a while. It's perfect for money transfer companies and banks.
When you buy XRP coins, do you think you are getting a small share of some type of ownership of Ripple technology? You need to do more research on your assumption.
No. i get no part of ripple company stock. XRP is a currency already in use to transfer funds. lots of mainly japanese banks use it.
Too much "pump and dump" for my liking. It's a rigged game. you can make money trading it if you are patient and not too greedy.
I didn't assume anything. i know XRP and ripple are two different things.
i bought XRP at 30c and sold it for $2.5. I know what it is and who owns it..
Ripple technology is tested and proven. And owned 100% by Ripple Labs. Ripple technology and XRP coins are two different things.
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It looks like Ripple will be a choice for a payment system, it can transfer any fiat currency. Bitcoin as it is right now is more like an asset, digital gold. Somebody could argue their role, but this would be inefficient, due to different consensus mechanism they are using. ⚅
You are correct...
Peter Todd - Ripple is a scam
No it's not. Ripple is a company with tested and proved technology. One of those technologies is XRP>