After a tough couple of days we finally were able to breath a little and watch most of our cryptocurrecies recover some of it's previous value. Searching carefully through Coin Market Cap I can see that even when almost every coin in this list gained some value in the las 24 hours, there are two coins with bigger gains among the TOP 20: XRP and TRX.
I'm not going to lie guys, these two aren't my favorite projects/coins (not even close) in this whole crypto environment and here is why:
TRX
What would you tell me if I told you that I'm going to solve world hunger and poverty through the benefits of blockchain technology? I'm sure you would think that it sounds like a noble idea, but at same time that it's completely out of touch with reality. What would you tell me then, if I told you that I'm going to end with online fraud using blockchain? Maybe you would say that this sounds much more believable than the first case but still, you would ask me "how exactly is this going to work?".Here is the thing, I can try to imagine a hundred examples like that until I find the right balance between that "great idea" kind of impact and making you think "that's kind of achievable, even if I don't know how". And that's how you can build a platform based on an atractive premise so you can convince people to invest in your idea.
I know, descentralized internet it's a big thing (particularly in this crypto world) but when you offer something great without being able to explain how you're going to do it, or you kind of explain it in an incomplete and PLAGIARIZED white paper, then I have to think that you are kind of lying. And then, when you go all "we are in talks with this big company and we are in talks with that great company, we are going to be HUGE very soon" like Justin Sun (Tron Founder) is doing on social networks, then I have to think that your pumping your own coin beyond it's real value just so you can dump it later. That's just what I think.
XRP
So here you have a couple of facts:- The XRP price grew more than 30,000% in 2017, and the main reason behind it's the announcement of the inclusion of some really big banks and companies among their clients
- XRP is 100% pre-mined coin
- Only about 40% of those pre-mined coins are currently in circulation. That means that the other 60% is in the Ripple company's (and its founders) hands
Now a couple of questions:
- If most of these coins are still under Ripple's control, why wouldn't they pump it's price?
- With all those XRP in their hands, wouldn't they be able to give some (say 1 billion) coins to a few of these "clients" just for saying that they are in talks to implement it, effectively pumping up XRP's price and then selling most if not all of their coins
I know, some of this ideas may seem a little far fetched to most of you but considering that some of these Ripple's clients are the same banks that played their part in the last world economy colapse, and being just a couple of days after Bitconnect's implotion I guess that my levels of distrust are on an all time high right now.
Anyway, beware of were you put your money guys
Do your own research
Take care