Ripple-to buy or not to buy

Shruti K asked 1 year ago

Hi! I am not new to bitcoins but I am new when it comes to other cryptocurrencies. I came across Ripple and it has me intrigued. But there are several discussions on the net stating that Ripple as a token will largely be regulated as it is made to bring down the huge upswing of bitcoin.
Can you throw some light on this matter?


1 Answers
Steven Hay answered 1 year ago

Hi Shruti,
Well, I think calling Ripple a cryptocurrency is a bit of a stretch, as it’s hyper-centralized and massively pre-mined. The Ripple company controls all of it, and their goal is to create a payment network for banks… It’s not cypherpunk. It’s corporate, compliant and … Just not very interesting, in my opinion.
I’m not saying Ripple won’t go up in value, of course. It could. It’s just not a system I can get behind as it’s really just an upgrade to SWIFT. Bitcoin is way more exciting and disruptive.
My advice is to check out Peter Todd’s criticism of Ripple before getting heavily involved:

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