XRP is the third largest cryptocurrency by market capitalization. It is a digital currency created by the Ripple technology company. Ripple actively courts the traditional banking infrastructure for its use, something that helps make this particular very controversial cryptocurrency.
For "oldcoiners" like me, Ripple is crypto-heresy because it works with banks. Bitcoin was born of the Great Recession, created in 2009 as a virtual middle finger for the rescue of large banks. In fact, most cryptocurrencies were based on the ideas of decentralization (no company possesses it), on transparency (transactions visible to all) and on privacy – practically the antithesis and freedom from banks.
Ripple / XRP is popular, but I think undeservedly.
Some background: I owned XRP. After interviewing the passionate cryptic and banker Patwin Lawrence, I bought my first XRP cache for $ 0.23 last fall. At that time, it looked like a subdued margin; as a professionally trained poker player, I am nothing but a regular frontier seeker. Like most, I watched XRP going absolutely strong, tapping the all-time highs of $ 3.59 in January 2018, before gradually selling my coins for an average of $ 0.96 at the beginning of April.
But over time since I was actively invested in Ripple, the culture around it has changed. He has changed into a full-blown cult. These heretics truly believe in the centralized banking future through cryptography rather than the existential threat that the banks seem to think it is. After a habitual pattern of abuse without consequences from Big Banking, why on the crypto would you root for these mustachioed criminals to import their dirty tricks into a world created in violent opposition to them?
Despite the 80% of the cryptocurrency – more and less, Ripple fans are ready to send spam to Twitter timelines, Facebook groups or Reddit threads with an unlimited certainty and similar to a bot for the his future. It's a comprehensive forensic exposition of a Twitter XRP botnet "simply used to create the illusion that … XRP / Ripple Army is bigger than reality." Every new voice or banking affiliation with Ripple, the company, drives these XRP lemmings crazy. And yes, this is a bad thing
Working incessantly at social media deadlines with baseless price forecasts to brainwash hearts and minds and other thoughtless propaganda, the cryptocurrency space does not favor.
All of us cryptic OGs desired in 2013 attention and adoption. Now, we have reached the point where we have to discern the kind of attention and adoption when it comes to digital coins and their platforms. Until the price and the utility of XRP are not accompanied by the unbridled enthusiasm of his social media militia – which may never be – XRP is not for me.
The ideas and opinions expressed in this article are exclusively those of the author and not necessarily the opinion of Black Enterprise.