I'm just hoping the ton of ripple (XRP) I bought will eventually make up for it all.
Ripple is a top player currently, and when Altcoins recover, Ripple will be in the mix. As a software architect nerd, I am personally sour on Ripple due it's centralized nature. It lacks the unique architectural characteristics of say Bitcoin, Ethereum, or Litecoin.
Just a brief history: The protocol was originally set to function much like Bitcoin's layer 2 Lightning Network, but there was a change in consensus implemented by Ripple Lab's in 2014. This allowed gateways to freeze/confiscate coins from any user, even without a valid signature.
In 2015, the US regulatory authorities fined Ripple Labs $700k for violating the bank secrecy act. To comply, Ripple labs agreed to register with FinCEN, comply with AML regulations, external audits, allowance of regulators to analyze Ripple transactions and flow of XRP. In a 2015 dispute, Ripple Labs exercised XRP's Freeze feature against one of their own founders. This sort of thing is impossible on Bitcoin due to it's decentralized nature. Trump can't stop Bitcoin, he can only temporarily freeze US exchanges, or if he is smart, acquire as much as possible.
That being said, Ripple works. It has been around a while, it has some
serious connections & partnerships, and a cult like following among crypto nerds (haha which is good). They can be a major player in the future of payments. I think what Facebook is doing with Libracoin is stupid, because with Ripple you don't need a Libracoin. Despite the freeze feature, XRP is not dying.
If you want to read more about the history of Ripple, I recommend this from Bitmex research. It's an excellent read
https://blog.bitmex.com/the-ripple-story/
gl!
PS: My comments regarding architecture do & will not correlate to the price or success of XRP. Like I said, they are major players. But history is good to know. For those who dabble in crypto and don't have a technical background, research on the history of a protocol could help avoid a scam. You don't need to understand Software Architecture to research the history of BSV and know that is a complete scam. I am likely getting this thread moved with my crypto rant, i'm sorry OP. But if anyone is interested and/or looking for some solid resources in the space, or has any questions, DMs me.
