Crypto industry is finally realizing this...

[AlibabaGrp 682]

Okay XRP boys and girls. so if you're on twitter and someone says XRP is centralized, you say??? Bitcoin is a Chinese centralized Shitcoin. 80% from China!!!! A communist anti-western country. You think Wallstreet would feel safe dumping billions in Bitcoin?

 

https://modernconsensus.com/cryptocurrencies/bitcoin/bitcoin-ethereum-centralized/

Edited October 4, 2018 by AlibabaGrp

[Benchmark 8,424]

Yes we knew this. Bitcoin is not decentralized and will get more centralized as time goes by.

Word has it that the Twinkleboss twins think that's a good idea. And they only have good ideas.

[Zerpple 21]

But xrp token distribution is disproportionatly held by a few individuals. These multi-billion xrp holders have the power to manipulate the market. How does this look any less shady than Bitcoin to banks?  

[lucky 5,587]

24 minutes ago, AlibabaGrp said:

Okay XRP boys and girls. so if you're on twitter and someone says XRP is centralized, you say??? Bitcoin is a Chinese centralized Shitcoin. 80% from China!!!! A communist anti-western country. You think Wallstreet would feel safe dumping billions in Bitcoin?

 

https://modernconsensus.com/cryptocurrencies/bitcoin/bitcoin-ethereum-centralized/

And the best joke is that the network has to pay millions of dollars per day to these Chinese miners, indefinately, for "security". Otherwise, the system falls apart.

The only reason Wallstreet is still considering moving in, is that they don't understand the implications of Proof of Work. They trust the blockchain wizards have figured it all out. Well, they haven't. Many of these self appointed blockchain wizards don't even understand the implications of PoW themselves.

Hey Wallstreet: Bitcoin is unsustainable.

[AlibabaGrp 682]

8 minutes ago, Zerpple said:

But xrp token distribution is disproportionatly held by a few individuals. These multi-billion xrp holders have the power to manipulate the market. How does this look any less shady than Bitcoin to banks?  

You think the banks just say "cool, we'll buy some XRP"? There are contracts, procedures, regulatory things that happen behind the scene. At multi national level. LOL and if Ripple violates these, it'll be a suicide mission for them. And U.S takes these things serious, this ain't no Mexico. Absolutely the same can be said for BTC and miners. Miners wouldn't do harm otherwise they'd be shooting themselves in the foot. The problem is the communist CHINESE government. If wallstreet has billions in the game and there's a cold war btw USA and China, who says the Chinese government won't overtake the mining facilities messing with the Bitcoin blockchain as retaliation ?

 

Edited October 4, 2018 by AlibabaGrp

[Trickery 2,478]

Just now, Zerpple said:

But xrp token distribution is disproportionatly held by a few individuals. These multi-billion xrp holders have the power to manipulate the market. How does this look any less shady than Bitcoin to banks?  

Well no they don't. Why would the holders want to keep the price low? Research brings rewards.

[LilBender 18,779]

11 minutes ago, Zerpple said:

But xrp token distribution is disproportionatly held by a few individuals. These multi-billion xrp holders have the power to manipulate the market. How does this look any less shady than Bitcoin to banks?  

Manipulating the market price is not the same as manipulating the transactions that happen on the blockchain.

One is a financial issue that can to some extent be curtailed with regulations. The other threatens the integrity of that particular blockchain. 

[lucky 5,587]

10 minutes ago, AlibabaGrp said:

Miners wouldn't do harm otherwise they'd be shooting themselves in the foot.

You're missing something quite important:

Anyone who wants to shoot Bitcoin in the foot can become a miner.

That includes states with nuclear power, or groups of states, that want to protect their sovereign currency or have other political ambitions. That also includes economic actors that have placed bets on the decline of Bitcoin, or want to reverse their transactions. The bigger the economic system built on top of Bitcoin, the higher the incentive to disrupt it. Lightning Network, and also the plans of ICE, actually lower the price to disrupt it, relatively, because revenue get's siphoned away from mining. At some point it will become more profitable for miners to disrupt bitcoin (secretly mine longer chains, to rewrite history), than to support it.

[JBW 242]

1 hour ago, Zerpple said:

But xrp token distribution is disproportionatly held by a few individuals. These multi-billion xrp holders have the power to manipulate the market. How does this look any less shady than Bitcoin to banks?  

Yes and Bitcoin of course has no big owners. I read that the majority of BTC is held by a handful of people  And of course these few owners don't manipulate the price  Most of the thing I read about Bitcoin is bad bad news it is so shady that I would never invest in BTC.

[Seoulite 760]

2 hours ago, Zerpple said:

But xrp token distribution is disproportionatly held by a few individuals. These multi-billion xrp holders have the power to manipulate the market. How does this look any less shady than Bitcoin to banks?  

In fairness, this does seem like one of the biggest weaknesses of xrp right now. If XRP were more  equally distributed, I think we would be quite a few steps ahead of where we are now. 

[JBW 242]

2 minutes ago, Seoulite said:

In fairness, this does seem like one of the biggest weaknesses of xrp right now. If XRP were more  equally distributed, I think we would be quite a few steps ahead of where we are now. 

Anyone can buy XRP. I don't see your point. If you have  a lot of XRP then the only way you can manipulate the price is when you want it to go down. It doesn't matter how much XRP you have you can not really manipulate the price up, unless you have like 90% and you refuse to sell. Then again if you have a lot of XRP why would you try to manipulate the price down? To get more... yes sure

[Seoulite 760]

54 minutes ago, JBW said:

Anyone can buy XRP. I don't see your point. If you have  a lot of XRP then the only way you can manipulate the price is when you want it to go down. It doesn't matter how much XRP you have you can not really manipulate the price up, unless you have like 90% and you refuse to sell. Then again if you have a lot of XRP why would you try to manipulate the price down? To get more... yes sure

Hmm no we are not talking about people who want to accumulate more. We are talking about people who already have hundreds of millions or billions of xrp. These people just want to sell as fast as possible. They aren't waiting for $589. 

[JBW 242]

Yes and when they sell someone will buy. So we get new owners. I Don't see a problem here

[Seoulite 760]

5 minutes ago, JBW said:

Yes and when they sell someone will buy.

I mean that's a pretty big assumption. Sure, we all believe that demand will exceed supply, but that's a helluva lot of downward pressure on the price if those buyers aren't there. I am just saying that I'm not surprised institutions look at the distribution of this commodity and don't wanna dive in head first. It creates all sorts of possibilities for instability that a more equal distribution would solve. 

Of course I believe over time it will be distributed, but like I said that depends on demand. If you don't take the demand as a given then it remains a big problem.