Ripple's XRP surges 70% as Bitcoin craze sends investors flocking to smaller cryptocurrencies - The entire reason Bitcoin exists is to end the modern-day-slavery caused by central banking. Ripple is not sound money; it's purpose is to enrich is founders. Please don't forget the reason we are all here. Bitcoin is principled & ethical; it is the only one that truly matters. If it collapsed tomorrow, anything with a public blockchain or ledger would lose all confidence & value tomorrow. Bitcoin is still thriving because it has survived. It has survived because it's decentralization is fundamentally the strongest & least corruptible.
The Ripple team will tell you otherwise - but there's clearly many central points of failure - it is incredibly centralized. For starters, if Bitcoin had a CEO, it probably wouldn't have survived this long. Every coin (besides Bitcoin), has a face, a CEO or a leader, this is a massive point of failure. Humans can be killed, co-opted, tortured, persuaded etc. Bitcoin is immune to all these things. It is a huge value proposition. The best moves Satoshi ever made; was firstly have an alias & secondly disappear.
Ripple or the XRP token has only gained value by piggy-backing off Bitcoin's value, taking advantage of it's FUD & deceiving the market. All the general public see is a low price token associated with the banking industry (low price does not mean massive upside potential). Most people who buy Ripple don't understand the difference between the price & the market capitalization. There is supposedly a 100B token max supply (impossible to accurately verify as an end user). They have been caught multiple times releasing XRP from their "locked escrow fund" & dumping on their holders. They are incredibly good at marketing XRP; it's always perfectly & conveniently timed with a massive pump.
Bitcoin is mined using time & electricity. Each Bitcoin has a cost to create it. Gold has value for similar reasons - you need time, resources, machinery & manpower to acquire each ounce. Bitcoin somewhat replicates gold mining, however is clearly far superior as hard money. Bitcoin is the only asset you can truly own. Gold can be confiscated, stolen, artificially created etc. There is far less incentive to try to steal someone's private key - there's really only extortion; & if their BTC is tied into a multi-sig, you're up shit creek without a paddle.
I've noticed over the last couple of weeks the Ripple team have really fired up their marketing campaigns; promoted tweets, YouTube videos, articles. They are absolutely relentless. I've noticed their main marketing push is to create a niche around big Bitcoin FUD. Energy being one of their biggest selling points, propaganda like "Ripple is better for the environment". The reality is; Bitcoin is incentivizing people to use more renewable energy. It is re-pricing/re-measuring the energy sector. Unallocated energy is being utilized for Bitcoin mining. There are many reasons Bitcoin mining is extremely positive; they far out weight any reasons that have any significance on the negative side.
Without even scratching the surface; banking infrastructure comprises of large high-rise buildings filled with computers, servers, aircon, coffee machines etc. (There's a lot of energy required to process tradition bank transactions behind the scenes). Compared to the wasteful & corrupt legacy system, Bitcoin should be considered extremely cheap for what it actually provides to humanity - hard money that empowers people on an individual level. PoW (Proof of Work) is absolutely necessary as a fundamental base to money. We need the best security we can get - Also, I say trust the judgement of cryptographers - the cyberpunks! These guys have been trying to build a version of Bitcoin (for e.g HashCash) years before it became successful. Most of them are on the same page with PoW - consensus wins.
Back to my original point. XRP is clearly a Ponzi; there is no organic growth here. Straight up, straight back down. Do you really think this time is going to be any different? If you want to contribute to their wild Christmas party, buy XRP.
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