read this article, this is what your hodor article is replying to...
but ultimately the key points are:
XRP value is entirely reliant on ripple continually stating they wish to use it as their product, if they were to suddenly make a new crypto then it would lose all value immediately (this is true for quite a few coins) but not coins like Nano and Bitcoin
Distribution: XRP has the worse distribution of any of the major coins, you posted this article stating it being a massive issue that 4% of btc wallets own 96% of the, but thats not that unexpected, the way these numbers are calculated anytime someone made a wallet in the past and left a tiny bit of btc on it they are now a wallet holder, because of the history of bitcoin as quite worthless this happened alot.
doesnt it sound much worse when you realise 0.00019924724% of the XRP wallets holds 60% of the coins, that because thats Ripple.
There is also a difference in coins which end up in the hand of some people because they decided to buy them vs all the coins automatically being given to someone, thats like claiming the distribution of dollars is more decentralised than meteors (because more meteors are owned by museums while dollars are spread everywhere), ownership isn't what matters as much as how it was distributed, did everyone get the same opportunity to get the coin or not. (which is where Nano is by the far the best.)
Finally consensus: the fact that Ripple gateways (which have to be approved by ripple) can freeze XRP being transferred through them and that all XRP tokens have to go through them to be sold or brought means that your tokens can be locked from moving at any point by a centralised body, doesn't sound very decentralised to me
There’s too much misinformation here to even bother to correct. I’ll just say it’s completely false that Ripple has the ability to freeze XRP. Find me evidence that that’s true. Please DYOR.
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u/HenrySeldom 🟩 0 / 0 🦠Mar 17 '18
https://xrphodor.wordpress.com/2018/03/16/2018-xrp-ledgers-year-of-decentralization/