Ripple is around $1 billion, and most people don’t realize this. Up until a few weeks ago most people could complain that Ripple is closed-source, and not really decentralized; I think that these claims are starting to wear off as they are now open-source and maybe they will be truly decentralized in the future –  Ron Gross



Ripple shilling makes me sick. After this (Susan Athey, Ripple Labs), I will personally make sure that Ripple is revealed as the centralized cop-out they are. Ripple is a great idea, implemented as a centralized system when such centralization was already unnecessary. It will be replaced – Andreas Antonopoulos

What are you talking about? It’s not centralised at all, that is its strength, it decentralises exchanges. –Martijin Meijering

Centralized organization, centralized company. We can do better – Andreas Antonopolous



RippleSingapore is one of the purest and most interesting uses of the ripple protocol to date. The service acts as a gateway for gold, silver and currencies. That gives users the ability to transmit gold and silver ounces online. – Fred Marion


Tuesday 27th May 2014

Lack of Understanding of the Economics of Bitcoin – Why a Hard Limit Resulting in Deflation Is Important to the World, Importance of Decentralization, Etc…

This rules out currencies such as Dogecoin, Freicoin, Ripple.

Lee Banfield


Monday 20th October 2014

Why Open Transactions? Because Appcoins Suck

Here’s the endgame as I imagine it:

* Bitcoin is base money. It is used as cash for most types of routine purchases.

* The blockchain also serves a few non-monetary roles, like hosting colored coins.

* OT is a contract-processing system. It is used for financial instruments (everything that is not base money): loans, stocks, bonds, trade credit, smart contracts, all types of credit in general

* In order to achieve federation, OT will rely heavily on colored coins

* Colored coins can’t host their own metadata in the blockchain, so they need some type of external metadata processing system in order to be useful.

* OT will become the standard metedata system for colored coins

* OT + colored coins makes Ripple, Counterparty, Mastercoin, Bitshares, etc all redundant.

* Users will prefer OT+CC to all the above because OT+CC doesn’t require them to purchase tokens from IPO investors.

* Ethereum is impractical for reasons beyond the scope of this post

* Openbazaar-style functionality is already being added to the reference OT GUI

* OT will survive because it has avoided the mandatory token approach, all the other projects will not.

Justus Ranvier


Thursday 5th March 2015


Ripple, Stellar, and Altcoins are all a distraction. Bitcoin is way too far ahead. We should be focused on bitcoin and sidechains – Brian Armstrong, Coinbase


Wednesday 18th March 2015

Shapeshift Currency Exchange

ShapeShift’s exchange volume has been growing by 30% per month for the past six months. There is no easier or safer way to trade Bitcoin with Litecoin, Darkcoin, Ripple, NXT, Bitshares, and other leading digital assets.

There is no signup process whatsoever. You can now move between digital assets with the grace and elegance that only cryptocurrency permits – Emily, Shapeshift


Wednesday 6th May 2015

Buy on Amazon at Discounted Prices: Integrates ShapeShift

Spend Tether, Dash, Litecoin, XRP, Monero, CounterParty, NXT & more at Amazon – Erik Voorhees

Supports the following countries: UK, Canada, Germany, Japan, China, France, Italy, Spain, India –


Monday 11th May 2015

Ripple (XRP)

FinCEN Fines Ripple Labs for Bank Secrecy Violation Acts

FinCEN Director Jennifer Shasky Calvery said in a statement that the event should serve as a reminder to all US companies that facilitate the exchange of digital currencies:

“Innovation is laudable but only as long as it does not unreasonably expose our financial system to tech-smart criminals eager to abuse the latest and most complex products.”

Ripple Labs and XRP II have agreed to a number of conditions to settle with both FinCEN and the US Attorney’s Office, including “enhanced remedial measures” aimed at beefing up its monitoring programs.

The settlements dictate that “certain enhancements” to the Ripple Protocol need to take place “to appropriately monitor all future transactions” – Stan Higgins


* This was utterly predictable and a known fatal weakness. Bitcoin can’t be “Rippled” like this –Andreas Antonopoulos

* Investing in Ripple, Ripple Labs, or any various iterations of XRP is a monumental waste of money –Jon Matonis


Saturday 2nd July 2016

In May 2014 I wrote a report looking to find a few coins that were potentially useful and not scams. I couldn’t find many because of the premined, instamined problem.

Most coins follow a predictable pattern. A quick pump launched by a few preminers, big hype, big market cap, scam people to get on board. Dumped. Crash by 90% or more. Often a dead cat bounce, doubling or tripling from those 90/95% losses, then a steady fall towards zero.


Here’s how the coins I analyzed on May 27th 2014 have performed since:


Category 1: Disqualified From My “Ethical / Useful List”


May 27th 2014: Market Cap = $31.4mill

July 1st 2016: Market Cap = $245.6mill



Key Points

  • Bitcoin’s market cap has grown from $7.3 billion to $10.5 billion, an increase of 45%
  • The Monero price has increased significantly
  • The Ripple price has performed surprisingly well
  • Counterparty and Namecoin disappointed


Then and Now: The Big 4 Cryptocurrencies

May 27th 2014

1, Bitcoin

2, Ripple

3, Litecoin

4, Peercoin


July 1st 2016

1, Bitcoin

2, Ethereum

3, Ripple

4, Litecoin


The top 4 positions have remained quite stable. The only changes are that new entrant Ethereum has burst on the scene with a massive $1 billion market cap and Peercoin has collapsed.

Litecoin and Ripple have retained their top 4 positions. To have that kind of stability over 2 years is a good accomplishment in such a fast changing turbulent market.



Immoral Coins: A Lack of Understanding About Economics.

Bank coins, gov coins, inflationary coins, centralized coins. Last time this ruled out Dogecoin, Freicoin, and Ripple.

Maybe some of them are not scams outright, but it’s not helpful to shift money away from bitcoin to support projects like this.





May 27th 2014: Market Cap = $31.4mill

July 1st 2016: Market Cap = $245.6mill


Price / Market Cap

Ripple has had a high market cap for years and has had a spectacular price gain since the last report I wrote in May 2014. The market cap hasn’t been below $100 million since August 2014.

Despite this impressive price performance, Ripple is disqualified for the 2 reasons below.


Lack of Principles: Too Involved with the Banks

I’m not enthusiastic at all about banking integration. The kind of people involved in Ripple are not the kind of people I want to be allocating money towards by investing in their project.


Centralization: The Big Disqualifier

FinCEN fined Ripple for bank secrecy violation acts in May 2015. The settlements dictated that “certain enhancements” to the Ripple Protocol need to take place “to appropriately monitor all future transactions”

This was utterly predictable and a known fatal weakness. Bitcoin can’t be “Rippled” like this –Andreas Antonopoulos



Disqualified Coins

Ripple (Centralized. Working with banks)


Coins with Too Many Problems

Ethereum (Too complex and insecure)

Namecoin (Hasn’t functioned well or got anywhere after many years)


Legitimate Coins


Lee Banfield, July 2016 Report: The Most Legitimate Altcoins



Thursday 18th August

Altcoin Research

Researching altcoins & astonished at their idiocy. Ripple is even stupider than Ethereum, but Steem has got to be the stupidest of them all.

I challenge anyone to read the entire Steem whitepaper and not laugh out loud at the fantastic sophistry used to hide the scam behind it.

Ripple’s blockchain is worthless without proof-of-work since it’s maintained by a central party that can edit it or be hacked. Just adds one extra layer of intermediation & a single point of failure for no reason but to make money for the creators – Saifedean Ammous


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