Shots fired

[Anonymous No.12195911]

XRP adoption is unlikely as it’s slow and too centralized, says the founder of Nano (NANO). He thinks banks are unlikely to accept it as it would give Ripple Labs, XRP’s creator and biggest hodler, a near-monopoly on the entire Forex market.

Colin LeMahieu, who created the Nano cryptocurrency, explained to Crypto Briefing that the financial sector couldn’t use XRP. In his eyes, the fact that Ripple controls more than half of the total supply – with no obligation to spend or burn it- makes it “too risky” for the banks.

“Many FX firms I’ve talked with have considered and dismissed them based on the fact that one company holds over 50% of the market cap,” wrote LeMahieu in an email. “A single company holding this much of a position on a currency isn’t something they would accept from a risk perspective.”

https://cryptobriefing.com/xrp-adoption-banks-nano/

[Anonymous No.12195943]

>>12195911
XRP is a scam.

[Anonymous No.12195968]

heh, nothing personal, kid
NANO is the Chad coin

[Anonymous No.12195974]

Clean your nodes.

[Anonymous No.12196129]

This is a WARNING to all you FUCKING FUDDERS AND HATERS OF NANO! Know that Nano is FEELESS and INSTANT and that many of us in the NANO community came from the BITCONNECT community and we are FUCKING DESPERATE so you clearly DO NOT want to MESS WITH US!!!!!

[Anonymous No.12196246]

>>12195968

[Anonymous No.12196274]

I hold both NANO and XRP, and have to say that Colin's comments are absolutely fucking retarded and it makes me want to sell my NANO stack if hes making idiotic statements like this publicly.

[Anonymous No.12196294]

>>12196274
I too like to trade with my emotions, fellow trader.

[Anonymous No.12196319]

>>12196274
Retard statements and mistakes are good for price. Look at what happened to verge after like 3 months of bad press

[Anonymous No.12196323]

>>12196294
It's not an emotional response, you brainlet. You have to understand the implications of a leader making certain public statements, it reveals a lot about how they think/they're ability to understand the broader landscape of how their product is positioned against others, including other project's strengths and weaknesses. If someone is publicly revealing how little they understand about how other projects are operating and doing so willingly, that doesn't inspire confidence in their ability to lead their own project to success.

[Anonymous No.12196375]

>>12196323
The truth only burns those who live in the shadows. Colin speaks truth. If XRP reaches even $5.00-$6.00 it makes the creator the richest man on earth. More so than Jeff Bezos even. This is highly problematic when it comes to the stability of a currency. It only takes one bad actor, and large financial sectors like the banking industry is far too cautious to make a mistake like that. Perhaps if they were the ones who owned the XRP it would be different.

[Anonymous No.12196376]

I'm sure banks will be stoked on Nano after the whole double spend fiasco in feb. Srsly compare both organizations and then come back and tell us which is more reputable. I bet it'll be the one with existing bank partnerships. Dumbest thread I've seen today.

[Anonymous No.12196437]

>>12196375
How does he speak the truth? What's your basis for this other than just wanting it to be true, vs it actually being true? The way we've measured wealth throughout time has changed immensely with the emergence of new technologies, this time will be no different. Measuring someone's wealth in crypto will be pointless (and this same case is actually made for people who hold immense wealth with stocks, e.g., Bezos is only valued at however many billions of dollars, he doesn't actually possess that number in a bank account). Like stocks, if someone like Chris Larsen attempts to sell his XRP when it hits, say, $5, the price would crash under any abnormal amount hitting the markets. Same thing for Bezos if he attempted to sell all his stock. Your argument is moot.

[Anonymous No.12196482]

>>12196437
Good point, I mean it isn't like the Federal Reserve has ever destroyed the value of the dollar or anything due to their authority and control over how much liquidity the market sees.

Even if this were so, it isn't like owning half of a coin's supply could ever be comparable to the ability to inflate the supply.

.... right?

[Anonymous No.12196509]

>>12196129
Absolutely cringed

[Anonymous No.12196542]

>>12196482
You're speaking around the point I'm making, and now are bringing up something unrelated because you don't understand what you're talking about. Just like Colin. If I was you, I'd research a bit more regarding Ripple's escrow for their XRP holdings and how they're sold OTC under strict contract for xRapid use only, along with taking a look at their quarterly reports which show their sales and the amount returned to escrow. The XRP you're referring to will not be able to be dumped in a such a way as to affect price in any meaningful way.

[Anonymous No.12196720]

Colin proving he's a brainlet after all. David Schwartz said a long time ago that Ripple would happily reach agreements with anyone concerned about their holdings. Which means a bank or company using XRP could legally protect themselves from 60% of the supply.

[Anonymous No.12196811]

>>12196274
Is he wrong though? No. I think NANO is useless to, but he's right about this.

[Anonymous No.12196950]

XRP is a completely unsustainable undecentralizable shitcoin scam powered by a massive fake Ripple bot shill army.

A full historical Ripple/XRP node needs 8 TB of disk space and grows at 12 GB per day. Don't believe me? Try and run your own node...good fucking luck with that. Even if you manage to get your own node running, you'd have to convince Ripple to add you to the validator set for it to do anything useful, and why would they bother to do that? So your full node, after two months of syncing, will be completely useless since nearly everyone uses Ripple Inc recommended UNL. Doesn't matter who the validators are if Ripple Inc can just change the dominant list of validators at will. Ripple Inc completely controls XRP.

Bitcoin is a relatively svelte 260GB (remember, this is over 10 years of history), and the Lightning network can do everything XRP can do but instantaneously, with greater decentralization, without the blockchain bloat, and without a single entity holding 50% of the coins.

Bitcoin actually has real liquidity and buy support. XRP has less buy support than even EOS, the other biggest shitcoin on the planet.

Furthermore, even if banks actually wanted to adopt Ripple or Stellar, which it's quite obvious they absolutely do not, as Ripple has been around 7 years and adopted by a grand total of zero banks, but let's imagine they did, banks could simply take the Ripple or Stellar open-source software, which is free for anyone to use, and run their own network, granting themselves their newly created tokens and leaving XRP bagholders with nothing.

Which raises the question, why in the hell would banks enrich Ripple/XRP holders when they can just take the software and make their own network?

The reason this works is there’s no mining in Ripple or Stellar, nodes basically just ping other nodes and say “hey, here’s what my ledger looks like now, ok?” So anyone can run their own network with their own “currency” in a few clicks.

[Anonymous No.12196956]

>>12196950
It's also glaringly obvious that Ripple chose its supply in order to create the cheapest coins, since newbie retail investors have no idea that price per coin is not a metric to base one's investments off of. Newbs will invest in cheap shitcoins like XRP because they think it's the easiest way to make gains. Meanwhile, Ripple pumps out a steady stream of press releases to pump it while periodically dumping its escrow'd stash.
#XRPTheSecurity

[Anonymous No.12197026]

>>12195911

>competitor trash talks competition

wew lads

[Anonymous No.12197145]

>>12196950
>A full historical Ripple/XRP node needs 8 TB of disk space and grows at 12 GB per day.
You don't have to store full history.

>you'd have to convince Ripple to add you to the validator set for it to do anything useful
I guarantee you don't even know what a validator does. They don't matter. You don't need Ripple to add you to anything.

>So your full node, after two months of syncing
You can sync in a few minutes.

>will be completely useless since nearly everyone uses Ripple Inc recommended UNL
What makes the validators on Ripple's recommended UNL useful? Why do you think they are important?

>Doesn't matter who the validators are if Ripple Inc can just change the dominant list of validators at will.
Which accomplishes nothing. Nodes can change their UNL however they want. Even if we assume every single node in the network uses Ripple's recommendation, and that Ripple mass changed that list, the most it would cause is a temporary halt to the network. As soon as nodes reconfigure they would be back up and running before the next block was mined in Bitcoin. Even double spending is not possible in that scenario.

>Ripple Inc completely controls XRP.
Ripple has no administrative control. They can't force anyone to run code or listen to certain validators. They can't freeze funds, create more XRP, reverse transactions, double spend, censor, etc.

>It's also glaringly obvious that Ripple chose its supply in order to create the cheapest coins
Here's why if you care to learn.
https://twitter.com/JoelKatz/status/1002314064616411136

I'm not wasting my time with the rest of your garbage. You've spent about 10 minutes looking into XRP and now think you're an expert.

[Anonymous No.12197304]

>>12196950
>Ripple has been around 7 years and adopted by a grand total of zero banks

https://ripple.com/ripple_press/ten-financial-institutions-join-ripples-global-payments-network/

[Anonymous No.12197329]

>>12195911
Why does every cunt have brown hair and wears a back pack well into their thirties

[Anonymous No.12197467]

>>12196542
Ha, you actually believe they will follow that contract once they have a monopoly? Brainlet.

[Anonymous No.12197590]

>>12197145
He's fudding Ripple, but he's also a brainlet.

[Anonymous No.12197605]

>>12195911

Not only that but XRP will be absolutely fucked by the SEC shortly.

[Anonymous No.12197646]

>>12197605
says increasingly nervous man for the seventh time this year

[Anonymous No.12197647]

>>12195911
Fuck link

[Anonymous No.12197665]

>>12196437
Finally someone in this thread who's not a brainlet.

[Anonymous No.12197690]

>>12197467
In the short term (at least 5 years but probably longer) they'll have to follow the contract. In the meantime, XRP holders will benefit.

[Anonymous No.12197729]

>>12196956

If you account for divisible units there are significantly more Satoshis of Bitcoin than Drops of XRP.

[Anonymous No.12198156]

>>12196950
>Ripple has been around 7 years and adopted by a grand total of zero banks
????wtf man
http://rppl.info/

[Anonymous No.12198169]

>>12195911
>breaking news
>competing organization with conflicting financial interests says rival won't be successful
Sounds legit, we have no reason to doubt their word

[Anonymous No.12198378]

Collin is pathetic and has zero understanding of how banks work. It might take many months or even years before I banks or FIs would sign a contract. Ripple has 2 yrs ahead of the rest. Banks have no options because they are FOMO. I used to own nano and I realized that xrp is the better investment vs nano.

[Anonymous No.12198445]

>>12197145
Some body here know a thing or two about xrp and ripple. The other guy was parroting what he read from garbage sources.

Xrp network is more decentralized than $btc and $eth and that is fact. You don't have to run full history validator servers. Hundreds people are running validators without being added to the UNL. Search and you will find the truth.

[Anonymous No.12199489]

>>12196950
Back to plebbit retard

[https://bitcointalk.org/index.(...) No.12199525]

>>12198445
"Xrp network is more decentralized than $btc and $eth and that is fact"
If you believe this, you are objectively dumb

[https://bitcointalk.org/index.(...) No.12199528]

>>12198378
What's worse Ripple fan boys or Bcashies? Banks will never adopt XRP in a meaningful way. They're way too smart and greedy to give Ripple the power. You bought ripple labs, board member's bags. Made them all rich in the process.

[https://bitcointalk.org/index.(...) No.12199563]

>>12196956
Damn. So many people are wise to Ripple's scam. It's great to see someone fully understand how Ripple makes $

[Anonymous No.12199567]

>>12199525
Ever heard of proof of work? You give miners the ability to censor transactions, rewrite history, profit by the billions off the backs of users, and hold the network's security hostage. In XRP, none of that exists. Each node chooses a small set of validators to put transactions in order. They can't censor, rewrite history, profit off anyone else, or jeopardize the network's security. If they misbehave in any way, you simply pick new validators.

But I'm sure you've considered all of this already!!

[Anonymous No.12199591]

>>12195911

XRP is bullshit and NANO?! You're seriously buying coins from an italian...enjoy your scam

[https://blog.bitmex.com/the-ri(...) No.12199623]

>>12199567
XRP has half owned by Ripple, on top of handing out premined to the founders. It's literally one of the most centralized. POW is true censorship resistance. XRP is how ripple raises capital and buys crypto hype. It's like a stock the company slowly sells, as needed.

[https://blog.bitmex.com/the-ri(...) No.12199632]

>>12199567
everyone laugh at this nonsense that Ripple coin is dectralized and BTC with all the hash power is not. Satoshi would slap you

[Anonymous No.12199650]

>>12199623
Coin ownership doesn't give control over the operation in XRP. PoW is not true censorship resistance because every miner can arbitrarily exclude transactions at any time.

If you want to buy stock in Ripple you could try here (assuming you're an accredited investor): https://equityzen.com/trending/ripplelabs/

Ripple's sales of XRP pales in comparison to the amount of money being made by miners of PoW coins.

>>12199632
Lots of hash power doesn't change anything I've said about PoW's weaknesses.

[Anonymous No.12199663]

Well, he’s right about XRP

[https://blog.bitmex.com/the-ri(...) No.12199667]

>>12199650
Coin ownership gives you control over the thing the matters to price most. Supply/Demand. Having over 50% of just one half of that equation gives you a lot of power over price.

[Anonymous No.12199697]

>>12199623
>preminded

wew, lad

[Anonymous No.12199759]

>>12199667
There are whales in Bitcoin, Ethereum, and almost all other cryptos that could flood the market on a whim. Since even Bitcoin is fairly illiquid, owning 5% (probably much less) could accomplish the same as owning 50%. What's more important is whether this type of dump is likely. I don't think it's worth losing sleep over.

In any case, Ripple locked away 90% of their XRP at the beginning of the year. They only have access to the remaining 10% plus the monthly escrow releases. If there is any evidence whatsoever that they've attempted to manipulate the price, I would love to see it.

[Anonymous No.12199806]

>>12195911
I thought this was obvious for any non brainlet.

[Anonymous No.12199818]

Will I make ir with 256 Nano ?

[Anonymous No.12199830]

>>12196482
makes perffect sense bro.
the whole reason why i don't hold XRP or XLM is because one day a huge locked up supply will be released in the open and it will tank the price beyond anyones dreams. the 1800 bitcoins that get mined everyday is a joke compared to the billions ripple labs still has to release.

[Anonymous No.12199859]

>>12199830
You expect Ripple to cash out a tiny fraction of their XRP for a tiny fraction of it's potential value? Destroy their reputation and possibly lose all of their partnerships? Bizarre. I would expect a company as evil and greedy as Ripple to maximize the value of their XRP, especially when they have an obligation to their shareholders to do so. Individuals are much more likely to go against their own economic interest (see Jed McCaleb).

[Anonymous No.12200807]

>>12199859
I just feel bad for you anon. You twist all the facts to for your delusional narrative that XRP is worth anything. Ripple is a meme.