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Replies to post #1151 on Ripple (XRPUSD)
blxil
01/15/18 1:58 PM
#1152 RE: BenRN #1151
No compensation for miners or nodes Unlike other currencies, the network will have to rely on people/company/partners jacking up their electricity bill to keep the network for transfers of the Ripple currency running
No ability for public audit The ledger is kept secret, as is the blockchain. If you think you own ripple, you don't actually know if you own it and will never be able to prove that you received it via the ledger.
Developers are manipulating the price Only 38,000,000,000 of 100,000,000,000 XRP have been issued by the developers; they are clearly manipulating supply to artificially inflate the price
Ripple's network will cease to exist over time The developers claim that every time Ripple will be transferred, a fraction of the currency will be "destroyed". While one might think that this would decrease supply and increase price, it will have the opposite effect because fewer Ripple owners will be "kind" enough to run their network. Transactions will take months without the processing power that is behind XRP currently, and the currency will lose its inherent value over time. That said, the mere fact that a fractional amount of Ripple is "destroyed" is unable to be confirmed because there's no means of the general public auditing this currency, verifying its transactions, or its ledger.
cryptomania
01/15/18 5:02 PM
#1158 RE: BenRN #1151