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XRP, which peaked at $3.67 in early January, has a market capitalization of $142 billion, making it the second most valuable digital currency. According to Cointelegraph, XRP has risen 360 times in 2017. This rate of return ranks first among all digital currencies.
XRP’s excellent performance has attracted a lot of fans. Many people are optimistic about XRP and even think it will threaten Bitcoin’s position as the first market value in the future. However, I am not optimistic about its prospects and advise against buying XRP. Why? There are two main reasons!
We know that Bitcoin’s big brother is leading a group of digital currencies that are made purely for revolution. Has been trying to eliminate the centralized fiat banking system and replace it. This group of outlaws has a tremendous energy, has formed an unstoppable, destructive historical trend. In my opinion, in the long run, digital currency is bound to beat banks and dominate all rivers and lakes for thousands of years.
XRP makes use of blockchain technology, but it is a traitor to the digital currency world. Because of him
It’s an interbank payment tool designed to help traditional banks transfer money quickly.
It can only parasitize the traditional banking system, which is the biggest difference from other digital currencies.
With the title of digital currency while subsidizing enemy countries,
This kind of double-dealing, too
It’s not moral. I say it should be removed from the digital currency camp. Any believer in free money, like XRP, which solidifies traditional centers of power, cannot accept it.
However, from the perspective of banks, XRP is a rare helper.
Ripple’s technology connects different banks’ payment networks together
In the real world, money transfer can greatly reduce financial transfers
The cost of the account. and
it
Transaction speed is very fast, 1500 transactions per second can be processed, yes
We will improve the cross-border settlement assets of banking institutions and solve the problem of international interbank payments.
XRP facilitates global remittances. Companies using XRP’s platform technology include well-known banks such as Santander, Bank of America and UBS. More banks are expected to use it in the future, which could push up its price in the short term. But as the banking system weakens, unable to withstand the onslaught of powerful digital currencies, XRP is bound to die with it.
XRP also has a more dangerous place, we must understand clearly, it is actually a fake blockchain project to sell dog meat. As we all know, the most fundamental feature of blockchain is decentralization, with many common accounts. XRP is not decentralized at all,
Its supply is completely controlled by a single company with a single book, which is no different from a traditional centralized company.
So it’s not a decentralized digital currency. There are 100 billion XRP coins in circulation, all of which were mined in 2012. Most XRP coins are currently stored in companies. The XRP gateway’s ability to freeze customer balances, just as a bank has the right to freeze depositors’ funds, means that power remains unbridled.
XRP lacks a distributed node, which makes it easier to lose than other digital currencies. It also doesn’t keep managers in check, and it’s a centrally stored asset that hackers love to steal.
Despite the current XRP boom, I can see its twilight.
A truly decentralized digital currency needs to be censorship resistant; The project is not influenced by the founder or principal. If the price of a digital currency depends on the founder leader behind it, then it is not decentralized. Similarly, a digital currency is not decentralized if the speed and scalability of its transactions, or the pace of its issuance, are determined by a central node.
Clearly XRP doesn’t fit the logic of centralization. In my
XRP, it seems, never surpassed its all-time high again
$3.67
Is possible. It will be a miserable fate, its price will only get lower and lower, eventually zero. So those of you who bought XRP, you might as well sell. Did not buy it do not buy, otherwise the quilt, a lifetime can not turn over.
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