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tony71

Ripple has a freeze feature for XRP accounts??

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While I can't speak to everything in that video...

1. The increase of xrp sales by year is in USD, not XRP.. so ofc it spikes up like that when XRP/USD increased from 2016-now. That graph is very misleading.

2. He says XRP isn't used in Xrapid.. that's just flat out false... And then he uses that to point out that XRP might be a security, which 'ya know, we've heard that FUD a million times.

Tbh I was really hoping he had some better points to poke holes in my optimism, though I thought two parts were cool:

- Google being a starter investor in Ripple. That's neat, didn't know that, though I'm sure some of you do. Makes the whole Google ILP theory that much more respectible.

- Missing blocks. This is the first I've heard about this, I'd love to hear smarter people then myself discuss 🙃

 

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Hahahahahahahahahahhahahaha

Crypto Chico.....that guy is one of the most toxic, irresponsible, ignorant youtubers out there - and believe me, there's stiff competition for those aforementioned attributes. 

Of course, he ignorantly-or-on-purpose insinuates Ripple can freeze any XRP wallet.  NOPE.

They can freeze an account on an exchange.  I notice this idiot didn't say "well, that's a moot point anyway, since on an exchange...not your keys, not your crypto, any exchange can freeze your assets there and do that to thousands of accounts daily if they're not KYC'd to a certain level or they suspect those accounts of doing something dodgy". 

Even Roger Ver calls it Fake News! :D

 

 

 

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10 hours ago, 2ndtimearound said:

Of course, he ignorantly-or-on-purpose insinuates Ripple can freeze any XRP wallet.  NOPE.

They can freeze an account on an exchange.  I notice this idiot didn't say "well, that's a moot point anyway, since on an exchange...not your keys, not your crypto, any exchange can freeze your assets there and do that to thousands of accounts daily if they're not KYC'd to a certain level or they suspect those accounts of doing something dodgy". 

These are the two main points to take in.

The first is that Ripple, the company, doesn't have any control in what you do with your XRP. They're also unable to recover it for you if you lost your secret key; or if someone stole your XRP and moved it to their own wallet. Ripple simply develops software to help XRP function. It would be unacceptable for any crypto solution, including the XRP Ledger, to allow a third party determine whether your crypto is legitimately yours or not.

As for freezing funds, when people refer to "exchanges", this isn't something that any exchange can do. It depends on their approach to how deposits are done. With some exchanges, you're actually sending your crypto to that company's wallet. In a sense, you're just giving them your crypto. These exchanges are the ones that big, bold, red-text the message that a memo is required for deposits. This is because that memo ID is what connects that deposit to the account your made with them. It's so they know that you, specifically, sent those funds. Without a memo, it's just a blind deposit that they can't associate with any account (which they sometimes send back automatically).

Your account with them is your interface that lets you say "I sent you 35XRP in total so far. I'm requesting for you to send 22XRP to this other wallet." You never have direct access to their company wallet. Instead, you only has access to make requests. The freezing itself doesn't pertain to the wallet or the literal funds, but it's the account you actually log into... the account you need access to to make those withdraw requests. Without the account, you don't have a say in where any of the XRP you deposited should go.

 

Edited by Xrylite

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20 hours ago, Benchmark said:

Are you kidding me? How do you still not know basic facts about the XRPL? 

It's why I am not bothered with the current price of XRP.  Most people are incredibly stupid, including people in crypto.  They are mentally incapable of making a correct valuation for XRP, so sell their **** way too low.

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2 minutes ago, Cryptsycrackers said:

It's why I am not bothered with the current price of XRP.  Most people are incredibly stupid, including people in crypto.  They are mentally incapable of making a correct valuation for XRP, so sell their **** way too low.

Cause marketcap...

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