I am not going to tear Ripple a new one here, I bought a few several months ago and it has shown good value. Just a few problems that I see. I have a “stuck” wallet that I created to get the Ripple through Shapeshift. If something new hits Shapeshift, I buy a few bucks worth as an investment strategy. I do not have every single coin they support, but it is an older industry player and a brilliant platform. The hot wallet I made is holding 20 XRP, as I sent the coins to a hardware wallet as soon as I could. No biggie at the time as it was only a few cents. Now the 20 XPR are worth more and I would like to flip them into something else. I have the other wallet also, guess it will be hodling 20 XRP forever, or at least until the amount needed is changed by the bank-like company…
Ish number 2, the “founders” are holding back 60% of the coins. SIXTY. PERCENT. That seems high by any measure. The coin was “pre-mined” so holding some back is probably okay, but I remember when they locked them down and it was slightly controversial then.
Last point, and I had this in mind when I first heard about Ripple. Why would banks use it? Obviously I hedged against this by buying some, but it seems like even with the ridiculous growth in the cryptocurrency market the banks still have way more “money.” Why would they not just hire their own folks to build private blockchain distros. Seems like common sense to me. Then again, making you keep money in an account and hoarding most of the money for themselves, maybe Ripple is a Bank. They sure are acting like typical banksters.
