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Ripple (XRP) is a Rip-Off! (Trinity is correct)

 
Anonymous Coward
User ID: 71277578
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01/06/2018 02:59 PM
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Ripple (XRP) is a Rip-Off! (Trinity is correct)
Recommended reading at: [link to www.zerohedge.com (secure)]

Excerpts:

"Its fair to say that practically nobody who is speculating in XRP has the slightest clue about what it is, what problems it is solving, or even how many there are in circulation...XRP does not come into being as a valuable mining operation is performed, they were simply coded into existence by Ripple. How many and where are they?

Many investors new to the cryptocurrency space might not be aware of where all the XRP actually exist. Unlike bitcoin and many other cryptocurrencies, XRP isn't created on a particular timeline through mining or the act of securing decentralized networks.

Instead, the 100 billion XRPs (the cryptocurrency's coded limit) are already available, with most under the control of Ripple itself. Ripple currently controls about 61 billion XRP, although in May (where the price ranged from 5 cents to 41 cents) the company announced it would move to lock up 55 billion XRP in escrow, to be released at a rate of 1 billion a month for at least four and a half years.
[Just like fiat money--created out of thin air--not by mining. They sell to dumb buyers and take ALL the profits.]

So there are 49 billion (with a b) XRP coins out there, with another 5 billion for ready use by the company and another 1 billion per month ready to hit the streets. Contrast that with around 16.5 million (with an m) Bitcoin out there, and a coded maximum of 21 million once they are all mined.

In other words, there are 3,000 times as many XRP coins out there as Bitcoin, and XRP coins have no mining function attached to them! Its entirely unclear what their value proposition is here.

But people are afraid of missing out (FOMO) and so they are piling into XRP without any clear understanding of the value proposition. They see XRP going up in price and they want in. In other words, its bubble time.

According to people familiar with the space, including the digital asset expert who will be providing the insights at our cryptocurrency webinar, XRP is a useless and therefore worthless coin.
Anonymous Coward
User ID: 75774936
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01/06/2018 03:19 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
If you've ever held a XRP wallet and sent it you would understand the function. Takes a few seconds and costs next to nothing. No other token or coin can come close.
Bitcoin and its massive fees takes hours. Ether and its reasonable fees can take days.
So unless you know what you're talking about. Shut the FUD up.
Anonymous Coward
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01/06/2018 03:19 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
"valuable mining operation"

chuckle

it's amazing to see libertarians become devout believers in Keynesian theory.

lmao
Anonymous Coward
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01/06/2018 03:21 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
"Its entirely unclear what their value proposition is here."


I think the value proposition is that XRP might actually get used as a currency instead of a speculative bubble.
mikerock

User ID: 2314202
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01/06/2018 03:32 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
Ripple is light years ahead in transactions per second than any other crypto. The tech can handle just as many transactions as VISA.

Bitcoin and others cryptos the tech is archiac, slow and cannot match the throughput for real world use. They are merely investments now since it has been proven that they cannot handle real world usage.

Based on this info and that large financial institutions prefer Ripple no doubt Ripple/XRP is where crypto is headed next. XRP is destroyed with every transaction and much of it held back in escrow released every month. So the market cap nonsense is a myth. People will pay for what they think it is worth.

There is allot of anti-Ripple/XRP propaganda due to:

- Those that are heavily invested fiat, crypto and mining tech in Bitcoin. They do not want to lose that investment with a Bitcoin market crash to XRP.

- Bitcoin preference for anonymity is lost with Ripple. Bitcoin being anonymous is a somewhat a myth. Withdraw in fiat in the US and you are not anonymous.

Financial institutions prefer accountability and know your customer. Bitcoin and other cryptos will be fully regulated at some point which will eliminate Bitcoin anonymity. You can eventually expect a government issued ID to be tied to every Bitcoin transaction by law.

So if cryto is fully regulated and the market prefers a crypto for real world use that can match VISA, where do you think the market is headed? Obviously long term Ripple.

This does not mean Bitcoin and other cryptos will go away but rather the rise of Ripple/XRP as the dominant crypto.

Last Edited by mikerock on 01/06/2018 03:38 PM
Anonymous Coward
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01/06/2018 03:37 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
ripple to pay your cable bill...bitcoin to save or hold in escrow...monero for hookers and coke.
Hibodharma

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01/06/2018 04:02 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
XRP is way faster and cheaper than Bitcoin

Bitcoin is owned by a small majority of miners mostly in China, who are making bank off of the ridiculous fees. It costs 50 dollars to move funds, whether its 3 dollars or 3000. It uses a huge amount of electricity and computer power to mine


XRP takes no electricity, can send billions across the world within 4 seconds, and costs less than a fraction of a penny to do so. A percentage of XRP is destroyed with each transaction, so while there are many tokens, the value can remain high.

Ripple can give banks discount on purchasing large amounts so that is the incentive to use it, rather than purchasing it at market prices (it's 3 dollars now but will become worth much more)
Everything is Energy
Anonymous Coward
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01/06/2018 04:04 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
ripple is not true to the movement of crypto currency

it's backed by big banks

boycott it
Anonymous Coward
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01/06/2018 04:07 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
Ripple may hold value or not, it doesn't matter. What matters is how much is it gonna gain in value during 2018, and it seems it will gain a lot
nutmeg

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01/06/2018 04:11 PM

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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
Speculation that Amazon to start accepting Ripple in 2018

Last Edited by nutmeg on 01/06/2018 04:14 PM
Hibodharma

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01/06/2018 04:13 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
Ripple may hold value or not, it doesn't matter. What matters is how much is it gonna gain in value during 2018, and it seems it will gain a lot
 Quoting: Anonymous Coward 75285448


XRP going from 6 cents to almost 4 dollars in 13 months is very telling. Blows bitcoins growth out of the water!
Everything is Energy
Anonymous Coward
User ID: 76085366
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01/06/2018 04:15 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
XRP is way faster and cheaper than Bitcoin

Bitcoin is owned by a small majority of miners mostly in China, who are making bank off of the ridiculous fees. It costs 50 dollars to move funds, whether its 3 dollars or 3000. It uses a huge amount of electricity and computer power to mine


XRP takes no electricity, can send billions across the world within 4 seconds, and costs less than a fraction of a penny to do so. A percentage of XRP is destroyed with each transaction, so while there are many tokens, the value can remain high.

Ripple can give banks discount on purchasing large amounts so that is the incentive to use it, rather than purchasing it at market prices (it's 3 dollars now but will become worth much more)
 Quoting: Hibodharma


So a centralized, premined token basically.

We already have Paypal. Thanks anyway.
Anonymous Coward
User ID: 76085366
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01/06/2018 04:16 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
If you've ever held a XRP wallet and sent it you would understand the function. Takes a few seconds and costs next to nothing. No other token or coin can come close.
Bitcoin and its massive fees takes hours. Ether and its reasonable fees can take days.
So unless you know what you're talking about. Shut the FUD up.
 Quoting: Anonymous Coward 75774936


Dogecoin, Dash, Litecoin, are pretty fast and cheap too.

Still not getting it, sorry.
mikerock

User ID: 2314202
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01/06/2018 06:35 PM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
XRP is way faster and cheaper than Bitcoin

Bitcoin is owned by a small majority of miners mostly in China, who are making bank off of the ridiculous fees. It costs 50 dollars to move funds, whether its 3 dollars or 3000. It uses a huge amount of electricity and computer power to mine


XRP takes no electricity, can send billions across the world within 4 seconds, and costs less than a fraction of a penny to do so. A percentage of XRP is destroyed with each transaction, so while there are many tokens, the value can remain high.

Ripple can give banks discount on purchasing large amounts so that is the incentive to use it, rather than purchasing it at market prices (it's 3 dollars now but will become worth much more)
 Quoting: Hibodharma


So a centralized, premined token basically.

We already have Paypal. Thanks anyway.
 Quoting: Anonymous Coward 76085366


As if mining some coins actually means anything. You forget Bitcoin was centralized at one time until there were more validators. Now most of the Bitcoin mining is centralized in China. Ripple however is in the process of a decentralization campaign.

Paypal also is not a cryptocurrency investment, bad example.


If you've ever held a XRP wallet and sent it you would understand the function. Takes a few seconds and costs next to nothing. No other token or coin can come close.
Bitcoin and its massive fees takes hours. Ether and its reasonable fees can take days.
So unless you know what you're talking about. Shut the FUD up.
 Quoting: Anonymous Coward 75774936


Dogecoin, Dash, Litecoin, are pretty fast and cheap too.

Still not getting it, sorry.
 Quoting: Anonymous Coward 76085366


They do not come close to the transaction speed of Ripple. They have no real world use because of it.

Transactions Per Second

XRP - 1500 TPS
LTC - 56 TPS
BTC - 16 TPS
Dogecoin - 16 TPS
Dash - 10 TPS

Speed Per Transaction

XRP - 3.3 seconds
LTC - 12 minutes
BTC - 45 minutes
Dash - 15 minutes


XRP also has the lowest fees per transaction.

Last Edited by mikerock on 01/06/2018 06:36 PM
Anonymous Coward
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05/29/2021 12:34 AM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
Anonymous Coward
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05/29/2021 12:36 AM
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Re: Ripple (XRP) is a Rip-Off! (Trinity is correct)
bump





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