We all know what the BITCOIN REVOLUTION is all about - FREEDOM. Freedom from the evil clutches of the banks and the elites.
Ripple was the top performing cryptocurrency for 2017 in terms of price gain. From being an underdog for almost the whole of 2017, it gained tremendous popularity and success in just a matter of weeks in December.
Do you know why? How could have it beaten the giants in the likes of bitcoin, ethereum and litecoin? The real reasons and factors behind Ripple's ascent to the thrown will not only surprise you but will make you cringe.
Source: https://qz.com
Here's probably one thing you don't know - THE CASH DEPOSIT THAT YOU HAVE AT THE BANK IS NOT YOURS!
Are you surprised? Allow me to explain as simple as possible although I will have to use some technical accounting jargons.
All banks are required to used a book of records or ledger to account for all of their transactions including their assets and liabilities. There are 3 books of records - Balance Sheet, Income Statement and Cash Flows. The "book-of-records" for the banks' assets is called "balance sheet". This record, therefore shows all the things that the banks owns as well as the things that they owe.
Just to explain this a little bit more, an individual like you and me own and owe things. You could have $10,000 cash, a house worth $150,000, a car worth $15,000, and furnitures worth $5,000. On the other hand, you also have a credit card debt of $4,000, a mortgage of $75,000, and a car loan of $$6,000. Your "simplified" balance sheet should look like this:
Now, banks are legally required to prepare and make public their balance sheet. Below is what a bank's balance sheet would look like using "your" information above:
Of course, accounting is much more complicated than this example but I hope this helps clarifies the point.
Going back to my statement earlier, the $10,000 cash above is NOT YOURS. It appears on your balance sheet as "yours" but it also shows in the bank's balance sheet are theirs. And following are the defining factors on who really owns it:
1.) The cash is physically stored at the banks' vault.
2.) The banks can do whatever they want with this money without asking your permission.
3.) The bank's balance sheet is audited by a Certified Public Accountant (CPA) who confirms the accuracy of the data (and YOU do not have an audited balance sheet!).
4.) The audited balance sheet of the banks are submitted to the Federal Government (IRS and SEC) and are made available to the general public (and YOUR balance sheet is not audited nor submitted to the IRS or SEC!). By making it public, the public therefore accepts the accuracy of the information contained in it!!!
5.) If a bank goes bankrupt, the money in its fault goes to the grave with it.
At this point, you may be wondering as to why then can you go to any ATM at any day or time and withdraw your cash?
The answer - TRUST!!!
Notice that on the right side of the bank's balance sheet, there is a line called "Payable - 10,000". What this means is that the bank owes you $10,000 and you TRUST that the bank will honor that promise to pay you. The physical manifestation of this trust is the plastic card in your wallet that you call ATM card.
If a bank goes bankrupt, this TRUST is severed. Your money is gone. There are of course some legal ways to claim some of that money but that's besides the point.
By Supporting Ripple, We Are Unknowingly Surrendering the FREEDOM that Satoshi Nakamoto has reclaimed for us!
If you read bitcoin's white paper, eliminating the banks and the unworthy trust as well as the deception and everything else that goes with "banks", is the central tenet of the peaceful and bloodless bitcoin revolution. This revolution hopes to give back the freedom that we lost, and thereby giving us another chance to prove that we can self-govern.
Now the banks, after realizing and witnessing the power of the revolution and their impending demise, scrambled all their resources to fight back. This led to the creation of RIPPLE. A cryptocurrency in disguise to fool us and unknowingly give up our hard-earned freedom.
In 2015, the U.S.’s three biggest banks made $6 billion from ATM fees and overdraft fees, which is somewhere between 5-20% of their total revenue. This does not include the money thay make from investing and loaning the people's money.
This is robbery in plain sight. The banks are charging us for withdrawing our own money!!! And while they earn billions and trillions of dollars from using our money, we only get a meager 0.01% interest!
Ripple's sole purpose is to transfer money from one bank to another faster and cheaper. It's not a decentralized platform unlike bitcoin. It is owned by the banks, financed by the banks, and run by the banks.
The unexpected rise of Ripple in late 2017 is the result of the heavy financing, marketing, advertising and media and market manipulation by the banks of the world who are threatened by the very existence of bitcoin. This is also one of the reasons why bitcoin's price has been nailed to the 15,000 range despite several attempts to move upwards.
The end game with Ripple is to kill Bitcoin & Altcoins and the freedom that they bring. The first of the multiple-step plot is to depose bitcoin from the number 1 spot by (1) heavily endorsing Ripple and (2) igniting and financing a war among the "real "cryptos (devide and conquer strategy) to kill each other. We all can see how this plot is being executed flawlessly and it breaks my heart to see how we succumb to such deception.
I hope this post brings to light the very dark plot that the banks are carrying on. Always look beyond the beautiful flowers, beyond the fruit trees and beyond the forest my dear friends. Don't let the elites who have been exploiting and manipulating us for decades and decades, continue their foolishness, selfishness and cunning deception.
May you REST IN PEACE Ripple!
This post was resteemed by @steemvote and received a 47.81% Upvote
0.20% @pushup from @steemvote
I really hate ripple. It takes a part of the technology and is using it without the decentralization, this creates a single point of failure. Additional, as you state, it takes away the non-trust factor. This year is going to be stressful because i believe Ripple will surge further up. Ultimately BTC is much more valuable
Banks will try everything to rule over the crypto world just like how they manipulate fiat currency. However we the people need to not focus on short term gains. But look at the long term. If you have a position in xrp, take profit, and get back to bitcoin or ltc. Most altcoins are a hype. I mean Have fun but remember to put majority of your position in the bitcoin.
couldn't agree more. I wish more and more people become aware of this.
I truly don't understand why people are buying so much Ripple. Does it have cool dapps? A fun wallet? Is it decentralized? Does it have an amazing governance system? These are the sorts of things I look for in a coin.
I never really understood why most people were opposed to Ripple, but now I get it! Thanks for sharing this and I shall be selling my XRP anytime soon.
I’m very grateful for smart and informed posts like this, for it can really lead people to make informed and unimpulsive choices in the cryptosphere. With that being said, I hope everyone makes money in any investment they choose, including ripple. I do not and would not invest in ripple. Besides the huge and great point you made about freedom from banks and decentralization, it seems that too many people just worry about short term profits at the expense of the main goal - viability and scalability in the long term. Very dangerous way to invest.
I agree with your post.
Everything that is not decentralized should, in my opinion, not be worthy to be called a ''cryptocurrency''.
offtopic - I must commit that I too invested in Ripple, to take the profits. Fully aware that it was not a decentralized coin.
These centralized systems own you and your assets from birth. Much the same way that they take your name, register it into their system, and send you the card with your NAME written on it. Every action is their asset. I was this close to buying Ripple, until I realized their minimum buy in. No wonder they're growing..
Excellent piece man!
If the banks intend to crash ripple, they can do so with a flick of a switch. In the process, they would compromise cryptos as a whole, quickly grabbing back scared investors back into their bank accounts.
Sounds like paranoia but the threat is very real...
A decentralized platform is the only way to ensure the integrity of the system. Great write up!
XRP is being used by banks and whales as a holding station for BTC money. They move BTC money into Ripple to cash in on BTC futures (currently short) positions, keeping BTC price within range of short positions. They soon go long and flood the money out of Ripple into BTC sinking all the people who don't get this and bought Ripple high. They will do this again and again, back and forth between Ripple and BTC to take advantage of futures and cause dramatic swings to shake out the little guys. Use this knowledge to your advantage and when Ripple starts to go down, move to BTC. When BTC starts to crash, move to Ripple and ride the wave up with all the bank $$.
I have tested this theory for the last two big dips in December and it held and was exactly reverse correlated...check into it yourself. Also, Ripple is remaining high and steady without a pull back as btc is remaining low and steady without any significant upticks. Also, please note January's BTC futures range on CME is High 15470 to low 14205. We are EXACTLY staying in that range. When the these shorts settle, I expect a flip to long positions in Feb. some time and a huge rush upward and out of Ripple. Be prepared. Her is the link to the CME futures prices: http://www.cmegroup.com/trading/equity-index/us-index/bitcoin.html
So for those of us that haven't already, we should jump on Ripple until February, and then back to BTC?
Ripple will likely stay relatively flat now, like in a holding pattern of slight ups and downs until they decide to go back to BTC. Buying at these hight seems like too much risk of being dumped on.
Okay. I'm a crypto noob. Apart from Powering Up, I'm just using my SBD to trade into ETH at the moment. I feel like it's a nice safe coin, without the hefty fees of BTC.
Check out my evidence for this here: https://steemit.com/ripple/@llball/banks-using-ripple-to-manipulate-btc-beware
Upvote and resteem this post and comment for public awareness!!!
thanks @kzilaji.
Down with the ripple!
Strongly agree with you, BTC is the right way. Ripple is the dark side, I just trust in the original revolution
Amen. The whole point of bitcoin was to free us from the banks. Ripple spits in the face of what crypto stands for. XRP is over 60% premined, what a joke.
▀
Ripple number one,,coin frineds
Banks manipulating BTC with XRP (Ripple) : Check it out: https://steemit.com/ripple/@llball/banks-using-ripple-to-manipulate-btc-beware
Great information. That is why I stack physical silver in my possession.
Sorry to say that! But I hope you are right haha
interesting post
Resteemed by @resteembot! Good Luck!
Curious?
The @resteembot's introduction post
Get more from @resteembot with the #resteembotsentme initiative
Check out the great posts I already resteemed.
Really well said @sandalphon. I truly hope people educate themselves about the predicament and what Ripple truly means to this revolution. I think it is our duty, like you have wonderfully done to fight against Ripple. I truly hope this is a brief moment of glory for ripple and it won't go much farther than this. I got into crypto exactly for this reason. To be a part of the changing tides of humanity.
Thank you greatly for strongly stating your opinions on this matter. Keep up the good work. In the end I think we will see a brighter day for humanity.
liberate, bank the unbank, reduce poverty and inequality among our fellowmen and women!
I had written a post about how Ripple is not even a cryptocurrency two days back. But your explanation is better. :D
Resteemed. @originalworks
The @OriginalWorks bot has determined this post by @sandalphon to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
Great post. - well said. Would love to know what you think about DAH? Digital Asset Holdings- aka the "new stock exchange" as some have called it.
Thanks for the post!
thanks for the feedback and the introduction to DAH @linda. Its the first time I heard of this but will check it out. I know NEM and BTS are in the same space and personally, I like both. Dan Larimer by the way of the genius behind Steemit, and Bitshares (BTS). BTS was just endorsed by Evander Holyfield. Then there's Cobinhood which got several endorsements from many celebrities as well.
This post has received a 5.70 % upvote, thanks to: @sandalphon.
You got a 9.25% upvote from @allaz courtesy of @sandalphon!
Great post dear. Resteemed....done
thanks @aliadnans.
This post has received a 3.45 % upvote from @upmyvote thanks to: @sandalphon. Send at least 1 SBD to @upmyvote with a post link in the memo field to promote a post! Sorry, we can't upvote comments.
You got a 2.21% upvote from @postpromoter courtesy of @sandalphon!
Only time can tell if Ripple would be good this year. We'll just have to wait and see.
You got a 4.39% upvote from @upme requested by: @sandalphon.
Send at least 1.5 SBD to @upme with a post link in the memo field to receive upvote next round.
To support our activity, please vote for my master @suggeelson, as a STEEM Witness
Thank you @sandalphon for promoting this post together with https://steemit.com/budget/@jerrybanfield/introducing-steem-budget-proposals
Cripple the Ripple?
Ripple is bullshit, and coming to an end soon! Love this post! Keep it up! https://steemit.com/@muscleroast.com
“...Ripple's ascent to the thrown...”
“thrown” should be “throne”
Thanks.
Am interested in bitcoin but don’t have a clue on how to go about it, any help?
Its weird how the banks are trying to stop this disruption by creating a 'centralized' block chain system. It completely defeats the purpose of this concept but i guess these corporate folks aint going down without a fight.
Also,, centralized systems are based around creating an image of stability and Ripple doing 10x in a weekend is definitely not what centralized system are built around.
I know that Ripple is totally different from Bitcoin phylosophy and that "Bitcoin purists" are against it. But, at the moment, there is really a bunch of people inventing in Cryptocurrency that just long for personal gain. These people will buy Ripples the same, cause they probably don't even care what's its purpose.
Please upvote my last post on Blockchain and Cryptocurrency course, if you think that my project worths it, thank you! https://steemit.com/blockchain-crypto/@rosargia/blockchain-and-cryptocurrency-9-incentives-and-proof-of-work
4.30% @pushup from @sandalphon
This post has received a 27.33 % upvote from
thanks to: @sandalphon.
For more information, click here!!!!
Send minimum 0.010 SBD to bid for votes.
Before sending a transfer to @minnowhelper, verify that your publication meets these conditions (http://www.minnowhelper.com/conditions.php). After the transfer is made, no claims will be received.
The Minnowhelper team is still looking for investors (Minimum 10 SP), if you are interested in this, read the conditions of how to invest click here!!!
ROI Calculator for Investors click here!!!
This post has received a 7.14 % upvote from @boomerang thanks to: @sandalphon
This post has received a 13.43 % upvote from @aksdwi thanks to: @sandalphon.
The Ripple is a desperate attempt of the international banking system, to try to retake the spaces where they were replaced by the Bitcoins. The new era has begun and the BTC is at the forefront and will remain so.
Thanks for an informative and indepth information about ripple. But it is solving problems of slow and expensive cross border transactions. If people are adopting the platform then its a testimony of a good product. If crossborder payments by bitcoin is slow and expensive then some crypto will fill the space and Ripple has done that. Till the time it helps any business save time and money Ripple will find its acceptance in Market. Still early days for ripple.
The question of trust will remain in ripple as you pointed out rightly in the post. But you can always convert you ripple to other crypto assets to overcome the trust factor..