XRP - Dogelord please Explain



@peter I’ve heard over and over you say that you’re not a fan of Ripple/XRP. I would love to know your full thesis on this and I’m sure many people in the pub do too. I can’t seem to understand why a company that uses a cryptocurrency, XRP to solve a major issue in the world to reduce the time taken for money to be transacted between borders is a bad thing or something you dislike. I’ve first hand experienced the difficulty in sending money overseas. It takes days sometimes and the fees are incredibly high.

Please don’t say that XRP is not decentralized because I don’t think it’s a valid point at this point and that it’s not a real crypto because it’s next product XRapid will be certainly using XRP.

Would love to know your thoughts on this.


…it’s as valid as valid gets. You may not care, but decentralization is the initial reason that drew most of us to crypto in the first place. :face_with_raised_eyebrow::face_with_raised_eyebrow::face_with_raised_eyebrow:


Well, I ain’t “the Dogelord” but my take is XRP is corporate derived, corporate sponsored project with too much power in their hands to control what others can do with XRP.

Stellar Lumens is a spinoff/fork of XRP that is open source, less corporate tied, although it’s got some big backers like IBM and seems to be outperforming XRP on technical merits even though XRP has deeper market penetration.

Both are trying to bank the unbanked, but differ in their approach and philosophies. Ripple is growing it’s adoption through the old money system. XLM is growing their adoption largely outside that realm.


Decentralized nature is important here…and here’s why:

Many view Stellar as a more decentralized network which then makes it possible for it to work around the constraints of traditional banking.

On the flipside, Ripple is seen to be quite centralized and aims at working closely and more specifically with banks. It has been accused of being profit-based and has attracted a couple of class action suits this year.

That’s a key differentiator in my book. Sure, if a project can work within banking infrastructure and it grows the adoption rate and facilitates moving funds around, then more power to it. But when it’s exclusively in the old world banking infrastructure, then it’s severely limiting the scope of where it can grow. That, IMHO, makes Stellar the project I’d rather invest in than in Ripple. Ripple limits itself in this way, Stellar does not and the door is wide open for them to go into the banking infrastructure as well. It’s not just ideology for ideology’s sake in this case. XLM has a much broader scope and flexibility in where they can go compared to Ripple and that’s just plain smart from a business perspective.


The truth is out there. You have to search for it. Go wayyyy back. You’ll find some interesting people supporting it.

You’ll also find that it’s verifiably centralized. Think DAO


I’m a fan of money, and buliding up more BTC … oh, dem gainz :doge:



You may not like xrp, but the fact is that there is a lot of money to be made.


There’s also a lot of money to be made by investing in alternative crypto projects that don’t compromise your ethics.


I can understand this completely!


You can always spend profits from xrp to buy more btc :slight_smile:


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Am I the only person who’s neutral on XRP, XLM, BCH and BTC?


If by “neutral” you mean not emotionally attached to the success/failure of any of these projects, then I’m there with you. If I see an opportunity to gain some profits, I’m in. If it’s bearish, I’m out. It’s just that simple.


Yeah that’s exactly what I mean. Too many people investing emotionally that could end up losing out if their coin’s competitor ends up winning


Ill second that as well. Youre not alone @7UP


I got caught up in fomo last year like many of us did. School of hard knocks kicks you in the teeth you start to rethink. A lot of people seem to be doubling down but we all make our own decisions. Seems anyone that contradicts “were going to the moon” gets run off and ostracized. Not a healthy mind set to have in my opinion.


Soon anyone that agrees with “were going to the moon” will get run off and ostracized. You might even find your self debating on whether crypto’s are just a huge scam and will never amount to anything as the bear market just gets stronger and stronger - that’s when you go all in on like 50 alts :stuck_out_tongue:

V. emotional markets are pretty good for profit as the pumps and hype tend to be massive.


I think that pattern has changed of late. I stopped posting “rational thoughts” on where things were moving back in the heyday of everyone who had a counter opinion getting assaulted. These days, at least in the Bitcoin Price thread, can have a fairly open discussion without getting the backlash, “you must HODL; never SHORT” rant.


I think it’s just part of the process:

BTC 20K USD - “you must HODL; never SHORT”
BTC 8K USD - you can talk and have a fair discussion
BTC at bottom of bear market - Anyone supporting BTC is delusional, it was just a massive p&d

rinse & repeat for every btc price cycle


The trade. Emotionally, people need to be neutral. Will there be a better gain to be had, sure. True with many great projects in crypto. Will I miss out? No I did this while working a 14 hour job (the grind) … The funny part, I didn’t do this because I am “Exceptional” - I am just a noob trader.

Lesson #1 - It is NEVER wrong to take a profit. :cowboy_hat_face: