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Ripple’s XRP centralization FUD must go now, here’s why

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XRP
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Since Satoshi brought Bitcoin to the world, decentralization has been a key value in every blockchain and cryptocurrency project, and Ripple’s XRP is precisely among such. Not only in crypto, BitTorrent (which is now running over Tron’s blockchain network) was also created to be decentralized, so the idea is not exclusive to digital assets but for every internet project that looks to guarantee freedom for users.

And this is why Ripple and its native token (XRP) has been so controversial. XRP is not your standard cryptocurrency. It’s was all pre-mined by Ripple Labs before it went online. On top of that Ripple’s goal has been to help the traditional financial system (think banks, and remittance systems) to eliminate friction in settling payments across borders. This, in particular, has not been that popular among crypto enthusiasts because the whole point in Bitcoin (as stated by the mythical Satoshi himself) is to get rid of banks, fiat currencies, and the global financial system.

And wait, have you been following the recent Ver/Wright hash power show? We believe it has cleared the FUD about Ripple’s XRP being centralized (of course, only for the people who can think neutrally). We all have been facing FUD that XRP is centralized (somehow) and isn’t a ‘real’ cryptocurrency like Bitcoin. Now, what is this? We all have seen how only a couple of individuals have tanked things completely. We think this has worked nothing short of vindication for Ripple’s XRP.

Also, Ripple Labs is a private company. It aims to make profits, as any company should. This has created suspicion about the Ripple’s network level of centralization.

Ripple’s David Schwartz has gone out of his way to explain to everybody who will listen that Ripple’s network is, indeed, decentralized, as well as XRP.

And Mr. Schwartz has a point. At least 70% of all Bitcoin’s mining is done in China, despite the Chinese government’s hostility to Bitcoin (but not to alt-coins in general). So while every node in Bitcoin’s network is, in principle, independent, the whole system could be brought down if the Chinese government should decide to block the network from the rest of the world, which is precisely what it did to Google.

Some other blockchain projects are in similar situations as they are mainly based in China, and they’ve not been accused of being centralized as XRP has.

So, compared to Bitcoin, or Ethereum or many other blockchains and cryptocurrencies, Ripple is quite decentralized despite the controversy it’s created.

Another thing to take into account is that XRP was last year’s most profitable coin. It outperformed Bitcoin, and there’s every sign that it will do the deed again this year. While XRP has been fluctuating, it’s been trading on green numbers for most of the last 30 days (it’s at $0.4737 as we write this) and it’s also been gaining ground in the XRP/BTC pairing.

The crypto market will have to decouple from BTC sooner or later (the sooner, the better) and it seems that Ripple’s XRP is leading the way.

There are reasons for that. XRP is proving itself to be useful in the real world. It was initially meant to be a mediating coin for banks to settle international payments. And it’s succeeding. But now you can have a debit card that allows you to use your XRP tokens to pay for goods and services as if it was your standard savings account, and the options keep growing.

So how worried should you be about XRP? We think you could be optimistic. Centralization has never been a real issue for Ripple or XRP, and the token has been profitable and growing consistently. And it’s still very cheap, so it remains a good option.

Just keep this in mind: the market has been going down for 11 months now, but XRP has been going up (despite fluctuations). There is no safe bet in crypto, of course. We know that, and so should you. But as these things go, XRP is not the worst you could do.

Do your homework and research. You’ll find that Ripple’s XRP is very underrated.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

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IOTA
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The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is…

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