Cryptocurrencies have several possible purposes. These may include variations on privacy and efficiency or decentralization. Ripple's purpose is efficiency, but it is not radical decentralization or privacy. Although their business model may not cohere with the traditional libertarian/anarchist crypto vision, we have to consider how good they are at fulfilling the niche they have set out for themselves.
So far they have been pretty good at it - whether we agree with their goals or not.
Another angle on ripple is that it could be considered a bridge to a crypto future. Here is a company willing to play nice with the big dogs... willing to compromise (supposed) principle in order to help get the crypto 'foot' in the mainstream door. This is aiding in bridge the gap between the mainstream and the nerdy basement dwelling libertarians...
Good opinion. However the product Ripple, which is the one playing with the "big dogs" has nothing to do with the crypto currency xrp. XRP can disappear and ripple can still sell its services to the banks. What I don't understand is were does XRP fit in the equation. No bank, no person or company is going to trade in such a volatile currency, where by the time I am done writing this it can be down 10% or up 100%.
Thanks. This short post addresses that concern in some fashion: