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Ripple Slides After Coinbase Says Not Adding New Crypto Coins

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Re: Ripple Slides After Coinbase Says Not Adding New Crypto Coins

#31

Post by charlesdm »

EGreg wrote: post #25
elmar wrote: post #23

Earlier quoted context omitted.

The crazy part is that Ripple is really a total nonsense cryptocurrency it's centralized it as counterparty risk and if any time in the future Banks decide to use it, they will use the tech, not the coin, it's pure madness a lot of people will lose their investment, Ripple it's the "Pet.com" of the cryptocurrency bubble. And btw the founder that as 17% stake is really a con artist.

I am always wondering about people saying this. XRP is counterparty-free I have studied their consensus protocol and it is indeed decentralized. We are planning to use some of the ideas from it in our network. As for founders having 20% of a startup company, that's common. Look at Mark Zuckerberg for instance. Why does that make them con artists? Bitcoin whales and Satoshi control 40% of bitcoins while over 99% of th…

But the currency is not required for banks to actually use the system? I'd be all over this, but it seems banks are only interested in the Ripple tech, and don't require (a lot of) XRP to operate the Ripple tech.

Re: Ripple Slides After Coinbase Says Not Adding New Crypto Coins

#32

Post by Pxtl »

drdrey wrote: post #13

The crazy part is how much XRP is concentrated in the company and its founders: > XRP, being issued by a company, is less decentralized than many other cryptocurrencies. For instance, Ripple itself holds 61.3 billion XRP, including 55 billion that it keeps in escrow. Only 38.7 billion XRP tokens have been distributed. > Cofounder and former CEO Chris Larsen, who stepped down in November 2016 and now serves as executi…

I've been seeing a lot of news about Ripple taking over my feed, and I'd never heard of it before this week. I'm suspecting this is just a very successful viral marketing campaign applied to the cryptocurrency system as an elaborate pump-and-dump scam.

Re: Ripple Slides After Coinbase Says Not Adding New Crypto Coins

#33

Post by beebmam »

nefitty wrote: post #26
drinchev wrote: post #19

Coinbase shouldn't dictate the market. It is the other way around. And sooner or later I hope they will be forced to add it. Having an argument "Our mission is to create an open financial system for the world" and accepting >only< decentralised cryptos sounds like an oxymoron to me.

In the same way that I'm not forced to invest in XRP or support Ripple, Coinbase has the right to support whatever projects it wants to support. Ripple's project is dangerous to the fundamental mission initiated by Satoshi Nakamoto. They didn't need to elbow into this space and poison the well if all they wanted to do was compete with SWIFT.

Why is ripple dangerous to the fundamental mission of Satoshi Nakamoto, and why should we care if it does undermine it (which I disagree with)?

Re: Ripple Slides After Coinbase Says Not Adding New Crypto Coins

#34

Post by [deleted] »

shepardrtc wrote: post #15

Coinbase is covering their ass because of the Bitcoin Cash fiasco. They're basically saying, "We're not adding anything until we add something. And when we do, it will be officially announced." i.e. they're not just going to suddenly add it and then tell everyone like with BCH.

[deleted]

Re: Ripple Slides After Coinbase Says Not Adding New Crypto Coins

#35

Post by csomar »

jgh wrote: post #20
0x4f3759df wrote: post #4

Here is the crazy ripple chart https://coinmarketcap.com/currencies/ripple/#charts

Isn't Ripple supposed to be for moving money around instead of wire transfers? How is this volatility remotely good for that use-case?

It does. The ripple currency is just for paying the fees.

Re: Ripple Slides After Coinbase Says Not Adding New Crypto Coins

#37

Post by mgbmtl »

elmar wrote: post #30
EGreg wrote: post #25

Earlier quoted context omitted.

I am always wondering about people saying this. XRP is counterparty-free I have studied their consensus protocol and it is indeed decentralized. We are planning to use some of the ideas from it in our network. As for founders having 20% of a startup company, that's common. Look at Mark Zuckerberg for instance. Why does that make them con artists? Bitcoin whales and Satoshi control 40% of bitcoins while over 99% of th…

From someone with more authority than myself :) https://youtu.be/t66HFQDnezk?t=980

As in the video, people would say the same about Ethereum, and yet, Ethereum's community continue to grow and its exchange value continues to grow.

On the other hand, what does Bitcoin have to show? Its community has stagnated and fractured, use-cases have stagnated. As an outsider, it often feels like Bitcoin early adopters are just sitting back and just calling other people stupid.

Re: Ripple Slides After Coinbase Says Not Adding New Crypto Coins

#38

Post by thealfreds »

charlesdm wrote: post #31
EGreg wrote: post #25

Earlier quoted context omitted.

I am always wondering about people saying this. XRP is counterparty-free I have studied their consensus protocol and it is indeed decentralized. We are planning to use some of the ideas from it in our network. As for founders having 20% of a startup company, that's common. Look at Mark Zuckerberg for instance. Why does that make them con artists? Bitcoin whales and Satoshi control 40% of bitcoins while over 99% of th…

But the currency is not required for banks to actually use the system? I'd be all over this, but it seems banks are only interested in the Ripple tech, and don't require (a lot of) XRP to operate the Ripple tech.

Correct xCurrent doesn't require XRP and just the xRapid product uses XRP to process payments. The thought is that XRP would be a universal currency for the payment processing portion and separated from the xCurrent ledger solution.

Re: Ripple Slides After Coinbase Says Not Adding New Crypto Coins

#39

Post by anonova »

EGreg wrote: post #25
elmar wrote: post #23

Earlier quoted context omitted.

The crazy part is that Ripple is really a total nonsense cryptocurrency it's centralized it as counterparty risk and if any time in the future Banks decide to use it, they will use the tech, not the coin, it's pure madness a lot of people will lose their investment, Ripple it's the "Pet.com" of the cryptocurrency bubble. And btw the founder that as 17% stake is really a con artist.

I am always wondering about people saying this. XRP is counterparty-free I have studied their consensus protocol and it is indeed decentralized. We are planning to use some of the ideas from it in our network. As for founders having 20% of a startup company, that's common. Look at Mark Zuckerberg for instance. Why does that make them con artists? Bitcoin whales and Satoshi control 40% of bitcoins while over 99% of th…

distributed != decentralized

Re: Ripple Slides After Coinbase Says Not Adding New Crypto Coins

#40

Post by tgarma1234 »

The idea that Coinbase would do anything at all to increase the number of people trying to use their system to buy or sell anything is laughable. I have been locked out of my coinbase account pending id verification, which I have submitted numerous times incidentally, since December 12 without even a peep of support follow up from Coinbase.

So, for me, seeing stories like this are basically just rage inducing. Coinbase should not offer anything new until they can invest in support infrastructure to close out all of the tickets that have been submitted by a great many people who have been essentially ripped off.

I have given up on the idea that I will ever hear back from Coinbase support at this point. I put money into the system in good faith expecting that, because they were US based, there would be some customer support. I see now it is a swindle. You can play this same trick with just about any valued product: take thousands of orders, collect everyone's money, and then just tell everyone that you are so swamped that technically it will be a very very long time before anyone can get refunds or deliveries.

Oldest trick in the book.

And stories like this where the mainstream Silicon Valley hype machine continues to play along with this ludicrous narrative are absurd and upsetting.

The fact is: Coinbase cannot support transactions or customer issues in a timely way and is making no effort to resolve any of the issues in a timely way after having taken everyone's money.

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