/biz/ - Business & Finance

Not a FUDer, just asking for some honest responses. IMO, there are three "levels" of crypto:

1. Legit. Either no-premine or a 100% honest (public, on-chain) contract for premine and/or an unevenly distributed revenue. Potentially valuable. Always a potential for an ATH.

2. Assumed scamcoin/abandoned. Bitcointalk is littered with the corpses of many. Usually pre-mined or centralized. Valueless except for novelty. Will never again reach its heydey.

3. Proven scamcoin, with at least one exposed avenue of fraud. AFAIK, XRP was the first crypto to achieve this status.

Yet, I am somehow supposed to be convinced that a level 3 coin will outperform a level 2 or even a level 1 coin. Even if you believe that the SEC will lose its case (a 39% possibility, historically), it does not undo the damage of the other fraud exposed by Ripple's "partners."

The crypto world has gone through these shenanigans many times. These coins bleed out to nothing. I know this is a little bit different because XRP had such a high market cap to begin with but as each day passes and its cap drops, that distinction will eventually fade too.

And honestly, the best thing for tier 1 crypto is to get these players out of the market as quickly as possible so that value can be shifted to better projects or stores of value.

If any XRP truthers can clue me in on the reasoning that it might ever correct upwards (other than small shakeouts to kill the margins), I'd love to hear it. Even riding the waves is too risky IMO as the bottom could drop out at any moment.