Quote:
Originally Posted by Taco John
So why is centralization going to be a problem for them? I'm genuinely interested in your opinion on this.
I know several people that have no clue about cryptocurrency or monetary policy, or even economics - just regular blue collar guys - who are begging me to help them get into Ripple because they want in on the action, and think "if the banks are using this, it must work."
It's not bad logic, really. I'd like to give them both sides of the coin, but just saying "they're a centralized authority" doesn't seem to put them off. Or me, for that matter. And I'm an open source, Ron Paul voter, with a 20 year career in tech.
What, exactly, is the argument you're making?
|
The entire crypto-blockchain movement is a disruption of the legacy financial system that allows for 99% of the worlds wealth to be monopolized by the richest 1%. We are early witnesses to the greatest redistribution of wealth the world has seen. Banks will attempt to hold onto the power but will eventually fail. Ripple is an attempt at a permissioned bank ledger, which is merely just a federated database, it is not secured by decentralized consensus. IBM also tried for a money grab with "Hyperledger", another permissioned chain and it has failed.
Blockchain isn't coming for a slice, its coming for the whole damn pie. Decentralized markets, wallets, loan services, identity, title registry...etc.
Your friends want to buy Ripple because it is the cheapest coin on a list of the top cryptos and they want to hit the lottery.
This is the last I'll speak about it. I would advise to be very cautious and research where real value presents itself.
GO CHIEFS!!!