Ripple is using XRP to swindle the public and empower the banking system
Posted in the Top Stories Forum
#1 Saturday Jan 13
Ripple and other companies are swindling people to make money. Enabling a grande illusion of personal wealth. Knowing the market is overrun with whales, they place their tokens on exchanges. To rope in variable funds. Meanwhile all long term value in those coins are strictly put there by individual betters. Not the companies. The companies do not invest any money into the coins. Therefore they take zero risk with investors. This is not a legitimate business proposition. It is a scam. It is a con game to get people's money and support to promote their company. Promoters go on forums chanting "to the moon" to enabling the illusion that the coins will act like Bitcoin. And even some who know better, are betting on the idea that these coins will at least rise high enough for them to cash out big. For many that means anywhere from $10 to $100. At those prices there will not be enough volume to withstand the cash outs. Which will tank the price and shrink everyone else's portfolio. I for one refuse to believe that the companies keep the tokens themselves. Except to run pumps once in awhile. Because of the volatility of value, this creates high risk for company funding to keep their token assets in a volatile exchange token. So they do one of two things. They cash out in intervals according to current market price. Or they take it upon their "market makers" which are nothing more than the company itself. And pump the coin. Then cash out a certain amount. The "escrow" they claim to place coins in is actually converting the token to another store of value that isn't as volatile.
Do people actually believe the companies are going to take any risks with individual investors? In the stock market, companies share in the risk. But in the crypto market, none of the companies are taking risks. They are just taking the profits. Meanwhile, investors are wondering why the prices keep tanking. Whales get blamed. Even though that is partly true. The companies are among the whales. Doing the same for themselves.
And as if it isn't bad enough that these companies are taking advantage of people. They are also posing a danger to whole societies. Because of the scale of the swindle, millions lose money fast. This money, usually in the form of USD, instantly converts to a different currency. Which fuels that culture. Asia is often a big source of pump and dump schemes. Effectively sucking USD blood like a parasite. Only to convert it to their own currency. This is both unethical and immoral. But many are seeing dollar signs and don't seem to care about the overall implications. In the case of Ripple, they are a third party company determined to empower the banking system. Which is contrary to what Bitcoin has been doing for proponents of a decentralized payment system where individuals can deal with businesses outside of government interference, taxes, and unnecessary overhead. It's a streamline that is proving itself to work. Without a centralized third party involved. People are buying houses with Bitcoin because its a good store of value. Ripple on the other hand is a third party that uses its own blockchain and has full control of every aspect of it. Including the very token it uses. It can take away an individual's XRP at will and lock you out at anytime. This is the makings of a new bureaucracy that can and will give banks ultimate power over individuals. Yet. XRP has zero value as a store of value. Its only purpose in life is to facilitate money using their own software on behalf of the banking system. That sums it up. It does NOTHING AT ALL FOR YOU AND I.
Try asking Brad Garlinghouse why he wants you to HOLD XRP for the long term. Ask him if he thinks it will make you alot of money. I guarantee he will not answer. Because he's been asked. And has avoided the question. There are other implants flying in this crypto universe. Justin Sun is another rising star. Full of rhetoric and empty promises.
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