Thread: Money Bitcoin Take?
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Old 01-04-2018, 11:35 PM   #1170
Taco John Taco John is offline
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Join Date: Jun 2001
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Quote:
Originally Posted by ChiefRocka View Post
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!!!

I get everything that you wrote but none of it answers why you think centralization is going to be the end of Ripple. The public isn't idealistic. I wish they were, but they're not. They don't care that Ripple is centralized. What they care about is whether or not they can make money on it/whether it works.

I admire the impassioned idealism, but I wouldn't recommend anybody trade on it. I do believe that decentralization wins the long game, but centralization is very good at the short game, much to my chagrin.

I don't know what's going to happen in the future, but I will not be surprised to see Ripple overtake Bitcoin in marketcap by Spring. If that happens - a considerable "if" - it will have some staying power.

I understand what the movement wants. The question, however, is what the market wants. So far as I can tell, the market wants a trusted coin that can scale, has low fees, and fast transaction times.

The market has determined (at this moment) that Ripple is currently the best solution for this, though I personally prefer RaiBlocks to it.
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Last edited by Taco John; 01-04-2018 at 11:47 PM..
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