The Ripple debate is growing hotter under the collar by the day. Meanwhile, the digital currency just keeps on soaring. Now at $3.71, Ripple is crushing Bitcoin’s dominance of the CoinMarketCap.com Index, which has fallen by half to just 33% in the past month:
Is Ripple even a Crypto though? Not according to some of the staunch decentralist right.
If #Ripple becomes number 1, the trust in the whole Crypto market will be gone and prices will crash. Because this would mean that decentralized systems lost against centralization. Think twice before you invest! #stopbuyingripple
— hitesh malviya (@hmalviya9) January 4, 2018
Ripple holds 60% of all outstanding XRP coins. That looks like a pretty hefty premine – and from the same co-founder who sold Mt. Gox to Mark Karpeles, too:
The day ripple was switched on, 100bln XRP was created out of thin air. 60bln still held privately by founders and aren't included in the market cap. pic.twitter.com/eIdHAw8ofc
— RideTheLightning⚡️ (@MediumSqueeze) January 3, 2018
it's not a "premine" if no coins are ever mined right? when XRP was created by the ripple company they minted 100 billon coins and kept 20 billion for their own reserves. i remember on bitcointalk back in 2014 they gave away 10-20k xrp per person
— Hashsandwich (@Hashmandu) January 3, 2018
PoW is the only way to achieve decentralization, immutability and resistance. Value is attained by users – when user's trust and count increases, they are willing to exchange more and more value for the coin.
— Ognian Milanov (@OgnianDev) January 3, 2018
As to the issue of Mt. Gox, it appears that the Ripple & Stellar co-founder Jed McCaleb did indeed once make the sale to Karpeles, knowing full well the ill-fated Bitcoin exchange was a ponzi scheme all along:
— SurreaŁ10n [LTC] (@surrealtc) January 3, 2018
Ripple Is Here To Stay – And No One Can Stop It
To be fair, the dissent is just a small minority of the overwhelmingly positive things that crypto buyers have to say about the world’s most powerful new interbank payment system. Certainly, Ripple seems to have more solid partnership deals with reputable firms than any other digital asset issuer around:
Why is $XRP price going up?
-fast 3 sec transactions, costing less than a penny
-hedge funds are investing big $ (Arrington XRP Capital)
-banks are preparing to go live with Ripple technology + XRP
-soon to be listed on coinbase
-rumored partnerships with Amazon, Uber + more
— xrp_news (@xrp_news) January 4, 2018
Plus, as fun as it is to ruminate on the past, does any of this matter now? Seven years is a century in Crypto, after all. Back in 2011, it is doubtful whether Asian kids were even online that much. Now they cannot get enough of the hottest Crypto on the block. Other little bites of logic seem to settle the FUD in more sober ways, too:
So, given a vote, what would you do? Buy, hold, sell?
TCJ rates XRP a “buy”.