So I'm watching World Crypto Network's Vortex interviewing Andy Hoffman video from the 27th and I hear just a few minutes in that our old friend from the Federal Reserve Ben Bernanke is attending a conference put on by Ripple, the most shady cryptocurrency I know.
Ripple was already very suspicious to me and many diehard freedom loving bitcoiners, but now it's gone to a whole new level if former fiat money printer himself Bernanke has aligned himself with the most shunned cryptocurrency in existence.
Event
Just checkout the headlines
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It's funny how the price crashed 20% after the conference announcement. That's a proper reaction to a cartel member attending an event about a product that is supposed to be a direct competitor to the cartel he is a part of.
Distaste for Ripple
Clearly alternative investors are turned off by this idea the man most recently in charge of the largest bank in the world has any support for this currency, and rightly so. Heck, the last ripple article created I see is titled "Ripple might be a evil banker coin but...". But there are those with opposing opininos, so see below.
Look at this disgusting post on r/ripple praising the fact that this globalist is attending:
Furthermore, the US Government, specifically the Financial Crimes Enforcement Network (FinCEN) released a statement of facts on Ripple. Why is there no Bitcoin facts (just guidance) or anything on Litecoin at all? Perhaps they want to regulate and legitimize Ripple as a priority.
As I mentioned in my last article, the time in 2013 when FinCEN came and introduced regulations for bitcoin (specifically exchanges) was a very dark period. They clamped down hard and stifled the growth of the fledgling cryptocurrency market. Now more recently this dastardly organization has fined the last remaining free and anonymous bitcoin exchange (btce) $110 Million for quote "facilitating ransomware, dark net drug sales".
The government clamp down (rather, slowdown) is real. They can't shutdown bitcoin becuase they'd have to control the whole entire internet to do that. And they're not ready to put that kind of fear and literal instability into the world; they could not even accomplish that! And the sooner they try the sooner people will look for decentralized alternatives, ad-hoc networks or just masking of internet traffic through whatever structure of established channels remain anyway.
Origins
Ripple was introduced in 2012 with closed source. Apparently it was first developed in 2004, so it is not even the same creed as bitcoin and the cryptocurrencies. In fact, it's not even a cryptocurrency itself, but a payment platform. That makes me curious as to why then it's listed on CoinMarketCap.com's list of CryptoCurrencies and speaking of that, it's the 4th largest digital currency by market cap with $8.4 Billion.
Ripple wants to takeover large world financial transactions currently maintained by the SWIFT system. They are the digital based infrastructure to supersede or upgrade our current fiat currency system with another centralized and government controllable system. But there is some confusion so please help me with the centralization question becuase it seems no one knows if its centralized control or not.
American Banker claimed ripple "from banks' perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like bitcoin,". Yeah, that's right, bankers support it, including the biggest banker of all now: Mr. Ben Bernanke.
As always, if you find any information wrong, or you just disagree with my opinion, please do leave a comment or a response post. Maybe the $700K fine from FinCEN from 2015 is a sign the government doesn't like ripple either; or a slap on the wrist to disguise their secret love of this centralized currency that could be the easiest to control? At least it went open source in late 2013. But I don't trust their statements that it plans to be more decentralized than bitcoin in the future. What do you think?
I wrote so many times (in the past):
I would not touch even with 20 ft long pole that RIPPLE - the most shady crypto on the planet Earth.
haha yes agree with u there but I admit my ignorance in not looking it up that much.
the really only cryptos i know a lot about are bitcoin, litecoin and dash.
Great piece Mike! Bernanke is a globalist zionist SNAKE.
thx sean ;)
ben shalom bernanke should be apprehended immediately as an Enemy of the State for destroying our currency and our economy. He is the biggest counterfeiter is history.
I have to agree with you there. its amazing how they can keep the system propped up on sticks when it should be falling like a house of bricks. Maybe we'll see that in the next real estate bubble pop though.
Granted its a beast coin, the fundamentals of evil makes profits. I mean hypocritical of course if you knew satancoin was going to $666 and you could buy in at $0.2, would you =).
haha, well good point :) can u buy ripple anonymously?
Things may be somewhat different in future.
People dont seem to understand that ripple is NOT a cryptocurrency, it is a backend technology... Ita designed to be used by banks, that is its purpose.
It will make fiat banking faster and cheaper. Its not like crypto is going to instantly take over. This is a pretty good bridge in the meantime.
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Every body says Ripple will fly very soon. But I can't believe it.......
fly you mean price rise or fly to more notoriety and adoption? i guess #2 would mean higher prices as well
If Banks take it on board then doesn't this just do more to legitimise cryptocurrencies in general? If your average Mum and Dad investors can see some direct interest or investment from banks into a Crypto then I think they will look twice at situation.... Also from a price perspective I would think this would lift Ripple's price massively...? Although I can see your point that it isn't true to the decentralised model but I think that's the hardest part for people to get past when learning or thinking about crypto currencies, everybody is brainwashed by the system. Therefore could this be a bridge?
we already know they're technologically very valuable.
but good point on convincing old timers. Have you watched Mr. Robot? ecoin vs bitcoin a major theme. ecoin support by 'evil corp' which it appears is modeled after large bank like JP Morgan
i like the way you think.
... if that doesn't send fright straight down your spine, what does ??
Hello.
I think all the haters just don't understand what ripple is about. it's for banks. they don't want to rival with other coins... and when all banks work with ripple they save money. thats why im in. bank always wins.
Bank always wins atm to big to fail and all that stuff....
until we have a better alternatives we are stuck with them. Fiat currencg is still the mainstream, crypto is not even close to being able to take on fiat (yet). Ripple may be helping the banks and not be a real crypto currency but I am more than happy ro invest in it and cash in myself... i see its potential, we are atuck with banks for the time being. We should all be profiting from that aby way we can. I hate capitalism,but i will use it for my own advtange while I work along side everyone else who is trying to change the system.
I thibk i just replied to the wrong comment but this phone aucks so i hope i didnt
alright. so u see banks as the major investors in it right now?
Go away ripple no one wants your tainted coin.
I do.
I am all for scrapping the fiat system, but i am well aware of the fact that we have nothing that is capable yet of replacing it. I can see crypto being that replacement dpwn the track but not yet.
Ripple is bringing crypto technology into the mainatream and legitimising it further whilst doing so. Its making more people aware of the technology and grpwing trust in that technology and crypto needsthat in general.
Also i see there is investment potential in ripple i have quite a bit and thats more than doubled since in bought in. I am hapy to capitalise on a system i hate while i need be stuck in it
except banks ;)
Hmmm... not exactly a small (potential) market, is it?
The Internet has done more for freedom than perhaps any invention or development in history. Yet it was started by the US government and they were among the first to embrace it.