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Debate on the nomenclature XRP and Ripple, which was created first and if it is worthy of the name cryptocurrency is a daily commission on crypto-twitter.
Host of a very popular bitcoin podcast, Whatbitcoindid, Peter McCormack has entered the list of XRP objectors, adding a little bit of extra flavor with a new name for XRP – Ripplecoin. Like McCormack He said:
Ripple created Ripplecoin Held by itself a lot of Ripplecoin Created value in Ripplecoin by pumping up the price with lies Managing their business by selling Ripplecoin Pretend Ripplecoin is decentralized due to the threat of SEC
He started the thread by drawing a clear distinction in the value and objectives of bitcoin and XRP:
Why is it important to promote Bitcoin but to call Ripplecoin? We take financial prejudice from the question, assume that there are no pockets of property and there are no financial incentives. – Bitcoin is a tool to separate money and the state – Ripplecoin is a company to make money to people …
The key is decentralization, the construction of something that can not be controlled or closed by governments. Allow a person to send value to another person anywhere in the world without any intermediary. This is such a powerful tool.
Why then a problem with Ripplecoin? It is competition for Bitcoin. The army of bot and bagholder distributes FUD against Bitcoin and lie about Ripplecoin, recruiting nocciolinists in their senseless world.
Peter concluded by asking a question it is really so difficult to make the right choice between "Choose: 1) A decentralized cryptocurrency that enriches the world, taking power from abusive governments 2) A centralized cryptocurrency, pre-extracted (equipped, yes, right) that enriches Brad and his friends. "
As might be expected, this has triggered XRP supporters who are huddled on the wire in defense of their favorite currency. Matt Hamilton, an IBM software developer, has asked McCormack to stop the collapse of XRP:
Just stop here … Why bother writing a thread when you get the opening opening statement wrong? "Ripplecoin is a company." All it does is highlight how you are intentionally trying to induce mistake people, or how misinformed you are.
So, as others have pointed out our vulnerability of the XRP token in the sense of its dependence on the Ripple company, Hamilton admitted that XRP would have been a success if Ripple had disappeared, but:
"Right, I do not doubt the price of XRP would take a shot if Ripple He disappeared. But I do not think it would be a single point of failure. If the idea (or move the desks on an open ledger) is valid, then anyone else could pick it up. But besides this there are many other cases of use. "
As long as we have this bear market, these debated debates will be omnipresent, not just on Twitter but in every corner of the encrypted world. There are substantial factions on both sides of the corridor and the others continue to come, consumed by tribalism and bitcoin / XRP maximalism.
In other XRP news …
The R3 banking network starts a collaboration with Ripple. The crypto currency is now supported by the R3 Blockchain Corda. Almost at the same time, the Internet payment service Skrill announced that Ripple could be purchased and sold via the platform with immediate effect.
The Settler String of R3 supports XRP as the first crypto currency
The R3 banking network announced on December 5 through a press release that the Corda Settler internal app would accept XRP as the first encrypted currency from now on. The app is based on the R3 Blockchain Rope and allows payment processing. The application was launched on the day of the announcement of the collaboration with Ripple.
If a payment obligation arises in the course of a business relationship, beneficiaries can now request processing of payments via XRP. The other party is then informed of the request, the amount, the destination address and the payment deadline. Once the payment has been made, it is validated and can be considered resolved by both parties.
In the past, the relationship between R3 and Ripple has not always been characterized by absolute unanimity. In 2016, Ripple R3 granted an option to buy 5 billion XRPs at a price of 0.0085 USD per unit. Later, Ripple did not want to exercise the option, signaling violations of the contract by R3. R3 insisted on redemption, causing a legal dispute. This was resolved in September 2018 with an out-of-court settlement.
Who belongs to the R3 network?
R3 is a consortium of over 200 banks based in New York City. The network was launched in September 2015 with nine founding members, including Barclays, BBVA, the Commonwealth Bank of Australia, Credit Suisse, Goldman Sachs, J.P. Morgan, Royal Bank of Scotland, State Street and UBS.
The announcement did not help the weak performance of XRP. The price lost several percentage points on the day the announcement was made, and the fluctuations around the time of the press release were not distinguishable. The price had already decreased visibly in the previous days.
Ripple now also to Skrill
One day before the announcement of R3, there had been other good news for Ripple. The Skrill payment service announced on December 4 through the short Twitter news service that even Ripple (XRP) will be supported from now on.
The message in the text: "We are pleased to announce it [Ripple] The XRP has been added to the list of crypto currencies that can be bought and sold through Skrill. Thanks to everyone who asked us about Ripple. Here it is."
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