I want to clear a few things up, at least from the way I see it. I have been in the digital currency game for about 5 months. I have my hands currently in Eth, Ripple, Steem, XEM, XLM and Bitcoin. I have looked in to Golam, Lisk and Lite.
Form day one, I have heard plenty of negative things said about Ripple (XRP). There have been a few good things online, but more negative than good.
Here are some of the negative comments I have come across and I will debunk them using the best of my knowledge.
• It’s a Scam
It is not a scam! The structure of the company is solid. The CEO and founder, Brad Garlinghouse and Chris Larsen are experienced, especially when it comes to Silicon Valley technology. They keep hiring the best when it comes to banking, such as hiring SWIFT bank employees and others from across the financial sector. So it can’t be a scam if it has a solid team as such. Unlike many of the coins out there that have shitty tech behind their coins and want to make a quick profit, Ripples intensions and overall views are good ones.
•It is a “Shit” coin
With my experience with digital currencies and blockchain tech so far, Ripple has been the fastest! I mean really fast when it comes to transactions. Send XRP, the transactions are done within a blink of an eye! Bitcoin transactions can last from 15 minutes to 1 hour! Eth and Lite, 5-10 minutes. Ripple’s technology is solid, and have the game pat when it comes to speed.
• It will never make it because it is centralized
The original concept of digital currency is the non- centralized component. Yes, it is a great feature and one main reason the digital currency world exist is because of this. Ripple was the first to make a it a centralized blockchain network, and that can be a major factor when it comes to who is accountable in the long run. The problem with today’s banks is there are too many middlemen when it comes to sending money to one another across the world. With Ripple, there is only one, Ripple Labs themselves!
• It can’t be mined
True, there has been a total of 100 Billion to ever exist, but the concept is to keep it from inflating in the future
• There are to many of them!
Ripple labs just announced a 55 Billion lock up of XRP, the rest is out to the public. Yes, there is many still in the wild, but did you know between every transaction there are certain amounts of XRP that will be destroyed? Yes! The amount of XRP in existence will go down. It might take awhile because it is a very small fraction, but imagine if plenty of institutions start using it so much (It might happen) to the point where the amount of Ripple will go so low, it will go up in value! Let that sink in.
I bought 75,000 XRP for 0.006 and as you know, I have made a very nice profit! Floating around .35-.40, XRP will easily be a $1 by the end of the year, if not, summer. At their rate! It will be a matter of time that Ripple will be taken serious by the whole digital currency community. Advice, DO NOT USE POLONIEX when it comes to trading XRP!!!!!!!
Ripple Labs was named one of the 50 Smartest Companies by MIT Technology Review and was then ranked No. 4 on a list by Fast Company of the World's Top 10 Most Innovative Companies Of 2015 In Money Mag!
Ripple Labs was named one of the 50 Smartest Companies by MIT Technology Review and was then ranked No. 4 on a list by Fast Company of the World's Top 10 Most Innovative Companies Of 2015 In Money Mag!
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