The crazy part is how much XRP is concentrated in the company and its founders:<p>> XRP, being issued by a company, is less decentralized than many other cryptocurrencies. For instance, Ripple itself holds 61.3 billion XRP, including 55 billion that it keeps in escrow. Only 38.7 billion XRP tokens have been distributed.<p>> Cofounder and former CEO Chris Larsen, who stepped down in November 2016 and now serves as executive chairman of Ripple, has 5.19 billion XRP in his personal holdings and a 17% stake in the company, according to sources at Ripple. That gives him a net worth of $37.3 billion, using Monday’s exchange rate.
The idea that Coinbase would do anything at all to increase the number of people trying to use their system to buy or sell anything is laughable. I have been locked out of my coinbase account pending id verification, which I have submitted numerous times incidentally, since December 12 without even a peep of support follow up from Coinbase.<p>So, for me, seeing stories like this are basically just rage inducing. Coinbase should not offer anything new until they can invest in support infrastructure to close out all of the tickets that have been submitted by a great many people who have been essentially ripped off.<p>I have given up on the idea that I will ever hear back from Coinbase support at this point. I put money into the system in good faith expecting that, because they were US based, there would be some customer support. I see now it is a swindle. You can play this same trick with just about any valued product: take thousands of orders, collect everyone's money, and then just tell everyone that you are so swamped that technically it will be a very very long time before anyone can get refunds or deliveries.<p>Oldest trick in the book.<p>And stories like this where the mainstream Silicon Valley hype machine continues to play along with this ludicrous narrative are absurd and upsetting.<p>The fact is: Coinbase cannot support transactions or customer issues in a timely way and is making no effort to resolve any of the issues in a timely way after having taken everyone's money.
This article lacks any context whatsoever. XRP is still up from yesterday. Up 100% since last week. Also Coinbase has not said that it will not add XRP, just that they haven't made any decisions yet.
Coinbase is covering their ass because of the Bitcoin Cash fiasco. They're basically saying, "We're not adding anything until we add something. And when we do, it will be officially announced."<p>i.e. they're not just going to suddenly add it and then tell everyone like with BCH.
The key here is that they linked to their requirements for adding Cryptos, which strongly suggest that XRP will not be added for not being decentralized. This doesn't directly say it has to be fully decentralized though, so it's a bit of interpretation.
There's two ways to read what Coinbase said:<p>1/ "We have no plans to add Ripple"<p>2/ "Maybe we'll add it, but we haven't <i>officially</i> decided yet, so don't blame what the market does on us"
Ripple is a great litmus test for people who are FOMO buying.<p>In this market, when the median top 200 coin under $0.1 went 100x [1], there are easier and "safer"[2] ways to generate returns.<p>It doesn't even do its job the best. Stellar Lumens (xlm) is a fork and doesn't have the centralized aspect or the 60% supply overhang. Raiblocks (XRB) will eat its lunch in terms of tx speed/fees if the tech doesn't blow up first.<p>[1] <a href="https://www.reddit.com/r/Bitcoin/comments/7o4nkm/last_week_was_the_week_of_the_dumb_money_i_did_an/" rel="nofollow">https://www.reddit.com/r/Bitcoin/comments/7o4nkm/last_week_w...</a><p>[2] "safer" in quotation marks because its all a game of when the music stops.
After waiting for over a month now on my Coinbase purchase being stuck in Pending status, with absolutely no response from their Support, I'm getting tired of seeing Coinbase being seen as a leader in the Cryptoverse.
Why is this on the front page at all? Coinbase has made zero claims about Ripple. The price cannot go up all the time, so a tiny correction is not only normal, but expected.
Meanwhile Coinbase CEO Brian Armstrong said there are many more that will be added to the platform in 2018, not even a month ago. <a href="https://youtu.be/lKviUIeGlgw?t=1m11s" rel="nofollow">https://youtu.be/lKviUIeGlgw?t=1m11s</a>
Nobody actually thought they would actually add Ripple. And Ripple dipped with the rest of the altcoin market and has recovered along with it. Once again, bloomberg publishing clickbait in regards to crypto.
Here is the crazy ripple chart<p><a href="https://coinmarketcap.com/currencies/ripple/#charts" rel="nofollow">https://coinmarketcap.com/currencies/ripple/#charts</a>
Coinbase shouldn't dictate the market. It is the other way around. And sooner or later I hope they will be forced to add it.<p>Having an argument "Our mission is to create an open financial system for the world" and accepting >only< decentralised cryptos sounds like an oxymoron to me.
is ripple even a blockchain? I thought it was controlled entirely by a private entity? edit: it looks to be a 100% premined cryptocurrency with a blockchain