As I write, the market cap for Ripple is $6,718, 492,027 and the market cap for NEM is $1,220,292,000. I find it alarming that anyone would buy Ripple when it is backed by the Bank of London and NEM is backed by Japanese financial institutions. Haven't we had enough with the big banks bailing themselves out in 2008 creating the financial chaos we are headed towards! Why give them power again when you can buy Bitcoin and Litecoin which aren't connect with the banks. Buying Ripple and NEM makes us enslaved to the big banks once again. We need to vote freedom with our money. We the people are choosing our new blockchain crypto currency favorites when we buy them. Let's ensure that our new cryptographic financial systems are truly of, by, and for the people. Please think twice before helping big banks to grow in our new fin tech work. In my opinion, those companies ought to be wilting on the vine.
Any crypto or digital currency owned by any one agency is not going to be a successful one in the long term. Thanks for the post thought in case people do not know about the backgrounds of the cryptos they may be into.
On top of hacking issues, I fear for any crypto that is choosing to join the Ethereum blockchain with their either upcoming or current ties to Russia in like NEM or Ripple https://www.rt.com/business/393741-ethereum-russia-blockchain-buterin/
I'm sure all the creators of these currencies got a great pay day and happily converted their earnings back into Bitcoin lol.
I was wondering why Ripple was so popular. I always believed that the reason for crypto was to be a part of a decentralized currency. Investing in ripple and other coins backed by banks kind of defeats the purpose, doesn't it?
Exactly!