Ripple is Scam

Ripple Is Scam

Ripple (XRP) is Scam

Some months ago i was browsing internet and i stumbled upon a comment that said Ripple was a Scam Cryptocurrency back then i was bit suspicious about it. However more looking into it and i concluded that this coin is all trouble & bad news. So first of all its important to understand why Crypto exists? It’s there to serve privacy of people and prevent bank corruption, avoid banks going political and closing accounts based on political leanings (Which has already started in Europe) obviously Crypto has many other functionalities, but i’m generally Anti-Fiat and Anti-Banks for many reasons – one being that the system is rigged and ran by corrupted people.


Massive Red Flags

Crypto has solved lot of those corruption issues from banks. That’s why banks have been threatened by Crypto for long time and this led to creation of Ripple company and XRP. So lets get into some of the stuff behind this crypto currency

  • If you go into website of Ripple you can clearly see which people they are working with massive banks such as Santander, MUFG, Westpac, American Express, Axis bank and many others. You may wonder why exactly are these banks partnering up with this currency and not the bigger ones out there? This is a relation that is red flag for me, you don’t want to work with people who created current bad banking system
  • Second Red Flag for XRP is that you can’t mine it, so this means they don’t want everyone just to get it for free by mining, this goes against main principles of Crypto Currency. It’s like creating a new money and only giving it to the banks
  • Ripple is not transparent – the blockchain essentially is not as open most other crypto currencies out there
  • 20 XRP Address opening fee – there is great article about this subject.
  • Ripple Labs retain 20% Of the currency, why? Well… thats what i would like to know
  • It’s more centralized system for banks than anything else

I’m not going to say this is best article on the subject or most researched one. There are bunch of others one out there that point out multiple issues of ripple and i’m just trying to make people drop the currency since there is no community around it and we don’t want to go back to the banking era of bullshit really. I recommend doing your own research and i’m here to just give my thoughts about it.

If you are interested Web Mining Crypto check out my article on the subject, you will find some new coins that could make you a millionaire one day.

 

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