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Click the blue word Fireball Blockchain above to follow us! The price of Ripple reached a peak of US$3.67 in early January this year, with a market value of US$142 billion, making it the second largest market value of digital currencies. According to statistics from industry media Cointelegraph, Ripple’s currency increased as much as 360 times in 2017. This rate of return ranks first among all digital currencies. The outstanding performance of Ripple has attracted many fans. Many people are optimistic about Ripple and even believe that it will threaten Bitcoin's position as the number one market value in the future. However, I am not optimistic about its prospects and recommend that everyone not buy Ripple. Why? There are two main reasons! We know that the group of digital currencies led by Big Brother Bitcoin is purely for revolution. I have always wanted to get rid of the centralized fiat currency banking system and replace it. This group of desperadoes has astonishingly huge energy and has formed an unstoppable and destructive historical trend. I believe that in the long run, digital currencies are bound to defeat banks and dominate the world for thousands of years. Although Ripple utilizes blockchain technology, it is a traitor to the digital currency world. Because it is an inter-bank payment tool, designed to help traditional banks transfer money quickly. It can only be parasitic on the traditional banking system, which is the biggest difference from other digital currencies.  Under the title of digital currency, but funding enemy countries, this kind of double-dealing behavior is so unethical. According to me, it should be removed from the digital currency camp. No believer in a free currency such as Ripple, which consolidates traditional power centers, can accept it. However, from the perspective of bank interests, Ripple is a rare and good helper. Ripple's technology can connect different bank payment networks together to achieve real-time transfers, which can significantly reduce the cost of financial transfers. Moreover, its transaction speed is very fast and can handle 1,500 transactions per second. It can optimize the cross-border settlement assets of banking institutions and solve the problems of international inter-bank payments. Ripple facilitates global remittances. Companies using Ripple’s platform technology include prominent banks such as Santander, Bank of America, and UBS. It is estimated that more banks will use it in the future, which may push up its price in the short term. However, as the banking system is unable to withstand the impact of powerful digital currencies and is declining, Ripple will definitely decline along with it. This is its inevitable fate. There is another even more terrible thing about Ripple, which everyone must understand clearly. It is actually a pseudo-blockchain project that is trying to sell itself like a sheep. As we all know, the most fundamental feature of blockchain is decentralization, with many ledgers sharing common accounting. Ripple has no decentralized features at all. Its supply is completely controlled by one company and has only one ledger. This is no different from traditional centralized companies.  Therefore it is not a decentralized digital currency. There are 100 billion Ripple coins in circulation, all of which were mined in 2012. Most of the XRP coins are currently held within the company. Ripple gateways have the ability to freeze customer account balances, much like banks have the power to freeze depositors’ funds, meaning the power remains unchecked. Ripple lacks distributed nodes and is easier to lose than other digital currencies. It cannot restrain the bad intentions of management company executives. What is even more frightening is that hackers like to steal such centrally stored digital assets. Although Ripple is currently gaining momentum, I seem to see its twilight. To truly realize a decentralized digital currency, it needs to meet the following two points: Resistance to censorship； The project is not influenced by the founder or person in charge. If the price of a digital currency depends on the founder leader behind it, then it is not decentralized. Likewise, a digital currency is not decentralized if its transaction speed and scalability, or issuance rhythm, are determined by a central node. Obviously Ripple does not comply with the logic of centralization. In my opinion, there is no chance that Ripple will ever surpass its all-time high price of $3.67. A tragic fate awaits it, as its price will only get lower and lower, eventually reaching zero. So those friends who bought Ripple coins should sell them as early as possible. If you don’t buy it, don’t buy it, otherwise you will be trapped and unable to get over for the rest of your life.  Pictures come from the Internet If there is any infringement, please contact us to delete it.  |
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