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
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?