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Bitcoin discussion / How Ripple Coin was born
« on: September 13, 2018, 02:23:02 PM »
The history of the ripple coin once again proved that everything has a price and greed is another vice.
Pseudo-crypto-currency or the Bankers’ conspiracy
A sensational story about how the real crypto-currency of legitimate owners was "pushed off" for a total of billions of dollars.
09/05/18 Critical Currency
Remember, in my first article in "Interesting" I mentioned that so-called the Ripple coin (Ripple, Ripple, XRP token) is already "the topic of another article"? So, finally, I’m getting around this "pseudo-crypt". Yes, despite the fact that the coin is on the third place in terms of capitalization, after Bitcoin and Ether, sometimes it restricts  ETH, rising to second place, I call it just pseudo-crypto currency.
I'll start from afar in particular from that December of 2017.
Do you remember what happened that day? Everyone has a state of "gold rush", from the wild growth of any Criptus and Bitcoin in particular. Everyone thinks: Well, here it is, it started! Later will be only to the Moon!
To paraphrase Rockefeller, as soon as a housewife starts talking about a crypto-coin, one must go to another asset. (To be precise, the quote reads: "When you hear that the shoe cleaner starts talking about the shares you know - it's time to sell." John Rockefeller).
How to see the difference between non-experts so called "housewives", from real crypto-investors? On the amount of money invested?
By no means. Everything is better. Crypto-investors with a C are distinguished by their thoughtfulness and desire to read not only news and headlines, but also the White Paper of the Project to the end, even if there are many english documents and also a desire not to be too lazy and delve into the section "for developers" and not just stare at faces in the section "Our team". The advisers are sometimes indicated through the former employees of the administration of the White House, famous lawyers / financiers. What should make you to take money out of your wallet with the feeling: YES ... I BELIEVE! CHOOSE EVERYTHING!
But mostly hamkadze (short for "Hamster - Kamikadze") attack the same boat time after time. I understand them. When you sit, breaking away from the main work, looking at the quotations of stock exchanges, where the unprecedented is going on, namely, for 1 hour any coin rises in price by 100 percent, you first understand – ah bastards ... pimp! No, really ... You are not going to trick me! Soon it will fall ... pass ...
And the next hour it is still up by 50 percent, and later, more ..
You think that you are definitely not a "hamster" and you are not going to risk the family budget. And yeah something is definitely happening ... but at least it's necessary to think the night about it.
You wake up ... and as a result in the morning it has not fall, but continues to do another 100 percent.
What do you think? Especially if you consider that you are busy with your personal deals - you are not a stockbroker or a crypto trader, you still "value a normal life" and try not only "to make money for the sake of money", but also to bring real "good to the world" daily. In the other words, you are far from technical analysis, candles / shoulders, fibonacci and other "swear words".
You sit and it seems like you FEEL IN YOUR BONES!
And you think - no, well, "one million lemmings" cannot be mistaken, well, not all the fools!
So, those who yesterday put a billion dollars in this coin, SOMETHING KNOW WHAT I DO NOT KNOW.
And there is no time to read, it is necessary to make decisions quickly, until it again has risen in price.
And ... you become one of them.
But you are cautious and do not put all the eggs in one basket, you "think" with words that you heard on some forex sites - you need to "diversify the risks" and do not invest more than $ 1000 ... in each of these magic coins ... If I lose it is a small amount, but if no- I will win many times even those losses that I will bear with other coins.
And the funny thing is that at this very moment in the world all the rest like you thinks EXACTLY SAME! And they invest into this coin, without reading White Paper, maybe they are afraid that while reading, they will have to buy another coin which is 50% more expensive. And they go, like slaughter, with slender herds.
And then when on a New Year's Eve during this rush, one of my friends called and with the intonation of the conspirator who owned an important insider, asked: Well? WERE YOU ALREADY INVESTED IN RIPPLE?
I really enjoyed myself and I asked - why?
He said: are you ok? Did you see the rate? A couple of weeks ago it was $ 0.30, and today is already $ 3.3. They say that the nearest time coin will cost $ 5! (well, in other words, people probably talk to each other, or paid "newsmakers" such as John McAfee, whose antivirus is much more useful than his predictions for the crypt).
I remembered immediately from the news this simply gorgeous PR- traps from the "support team" of the coin, when the leaders’ words  were widely replicated and their message was as following: "Ha! Are you still using Bitcoin? And we already sold them and moved to RIPPL! "
And, of course, this greatly burned interest to the coin. Everyone listens to the leaders.
Well in general I told my friend. He said everything I think ... not about all of the crypt , but about this so-called "Crypt", this fly in the ointment in our barrel of honey which is not crypto currency, and in general a coin without blockchain and without mining. Absolutely centralized in "one hand", and if their companies are shut down then - coin holders become bankrupts.
They are trying their best to be DECENTRALIZED. For this purpose, third-party nodes (trusted computer nodes) are actively involved, replacing them with their corporate nodes. But all your money can be confiscated with one click of a special "button in the interface." This function is embedded into the system with the name Freeze. To know the information you need carefully read some documents about this coin, namely the Bulletin of the company No. GB-2014-02.
I extinguished the friend’s passion when asked him to treat this coin simply as to ordinary money in a bank account. In the bank , where account can be at any time under the pretext of suspicious transactions, blocked / arrested, and your money will disappear...
I told him that the developers are really smart guys, but our interests of "mere mortals" are far away and they are oriented to large banks and will comply with bank regulatory rules in every possible way. And they simply "painted" 100 milliards of coins (they emitted) in the system. And now they are looking for greedy owners of different crypto-currencies, who on this wave of excitement and trust to "everything new " can squeeze out a real crypt from, for example BTC, exchanging for these candy wrappers.
There are a large number of banks that have joined the company's projects which are behind XRP token or rather not for a token, but for Ripple Labs. Banks are mainly interested in the product of this company, called xCurrent, which they use for cross-border payments based on RippleNet, which Ripple Labs positions as SWIFT 2.0 (Yes, they do have blockchain, but it has nothing to do with the XRP token, which you buy on the stock exchanges, hoping for an increase in its price, thinking that "a lot of banks are using Ripple, so it will surely run through." But these banks use not XRP, but a network based on xCurrent).
And the bankers' lobby seeing a good chance decided - "if we still can’t flow against the world's cryptology, which very soon will destroy our business, we must head it."
Having learned the project, a several interesting products for banks, as well as the XRP token (which in 2004 started not as a crypto currency, but as a system of instant money transfers, so even now [censored] actively tries to be partner with the team Ripple, in order to combine the opportunities). The bankers decided to leave the fashionable "token of crypto-currency", imaginary decentralization and ease of raising funds from the market, but to preserve all the bad sides and shortcomings of ordinary money, namely:
1. Ability to suddenly block accounts and assets of the owner or even a whole group of people involved in the transaction chain, on suspicion of illegal or unusual activities  by the request of law enforcement. This is about the option Freeze, which is activated by default on all so-called "Gateways" of coins (computer nodes usually installed in so-called "trusted" holders and they are simply involved in the project BANKS). This function can theoretically be deactivated by using the "NoFreeze" parameter, but who will voluntarily give up control levers?
2. Almost unlimited emission. Yes when the crypto community realized what kind of "unknown little creature" they bought in a large amount and that the issue was controlled by a limited group, and started loudly to express dissatisfaction on the internet, the developers agreed to introduce a kind of financial "self-censorship" - to tie together all their coins with so-called "Smart contracts", with the terms of bringing to the market monthly no more than 1 billion coins. Thus, remained 55 billion coins were distributed among these 55 smart contracts, and another billion are issued automatically every month. Developers can use these coins at their discretion and they do it.
And now a few words about blocking of coins. A funny story of how to step into the pit you dug for others. The stock exchange Bitstamp blocked the funds of one of the founders of Ripple, when Jed McCaleb tried to sell a part of his billion, namely 96 million coins through his family member. And the stock exchange blocked coins, getting scared by the collapse of the rate.
(McCaleb is the former owner of the Mt.Gox exchange, which was sold in 2010, when it became insolvent, and the collapse of which covered cryptornics with such a devastating wave that many investors suffered losses that they can’t recover from now, and Jed entered the Ripple project in 2011, but many for some reason consider the founder of the company Chris Larsen, maybe because he is listed as a co-founder, although Chris joined the company only in 2012 and remained CEO until 2017. Jed left the company in June 2013. Having founded in 2014, Stellar company - a direct competitor Ripplla, but that's a topic for another article).
Remember December of 2017, and the golden rush, when Bitcoin was almost $ 20,000, and Lightcoin was almost $ 400 for a coin, and the rest of the crypt also was extremely expensive! And how to "take away" free money from a large number of people If all money are already in crypt? And the holders of this clearly realize that it is too early to “change into the cash”. Many do not intend to sell at all. The news (already on TV, almost all channels) only gives confidence that the crypt is the future ... and analysts in Twitter say about the fastest 250,000 dollars for 1 BTC.
And how to squeeze money from these people? Smart people who made a fortune in 1 year (and the growth was 1700 percent, if anyone forgot).
It's very simple! Show the market that there are still "unfairly undervalued" coins that do make 1000 per cent not for a year, but ... for a month! (For a year the coin has made 50 700 percent, it not a mistake - yes, fifty thousand seven hundred percent). That is to play with primitive greed. And many were bought. Well imagine: bitcoin holder is sitting and he is so happy that in a week with $ 15,000 each coin went up to 18,000 bringing him 20 % this week and suddenly he realizes that he is just a fool at all. Well, how can you be such a lazy dinosaur and be pleased with 20% per week, if the real opportunity is - Ripple! The bitcoin has already grown and continues to grow at such a rate but XRP continues to do 50 or 100 % per day. The holder of cue or alto makes the decision: temporarily while the growth of the RIPPL will continue - from $ 3.3 to the $ 5 promised by analysts, RETURN TO RIPPL! And then, when the growth of XRP stops quickly jump back to bitcoin (whatever happens ... the coin is still new ... unknown to me, he thinks, I will not hold it for a long time, I will do another 100 or 200 per week on invested capital - and I will jump out again ).
The holder of real crypt for which he paid real kilowatts of electricity or real dollars does not understand (he has no time because the passion is stronger!) that the XRP token does:
1. it does not have strict limitations on throwing new coins into the market;
2. concentrated on one emission center;
3. from 100 billion coins only 20 billion  they "fed" to the market, and the remaining 80 billion kept with them (read - they can throw out at any time and at any price if they understand that growth has stopped and one would have to earn " slightly "). It's not BTC which only has 1800 coins per day and this is for the whole world! It is impossible to "draw" more 1 million (or 1 billion) a day and put it on the stock exchange. If you want to buy 1 million cue with ordinary money first you must find that idiot, ah excuse me, an amazing person who agrees to sell this million BTC to you. Who is this man? Someone who urgently needed $ 20 billion. For example the seller of something valuable and useful, received a transfer to BTC and wants to "go into money" (this is all at the rate of December 2017).
In the world of crypts how the rate of growth is arranged? Everybody watches - which of the major players, or better the exchanges or banks, enters the project or is partnered with the project. And as soon as they see that there are real press releases confirmed from several resources that a certain bank or such a company is "interested", or even better, it has invested so many millions of dollars in the project and that's all! The coin takes off - just in case. Then press releases can be played back - or said vaguely that, they say, while "we can’t disclose the details of the partnership."
That's exactly in December 2017 and January 2018 many holders of these crypto-currencies rooked coins - in exchange for XRP token wrappers. Which is expectedly collapsed and now again returned to its $ 0.33.
You can argue that Bitcoin "collapsed" and now isn’t worth 18,000 dollars. Yes, but if you would stay with Bitcoin and were not greedy and wouldn’t rush to Ripple then capitalization of your asset would decrease by 2.5 times (from $ 18,000 to $ 7,300 today) But all those who did not manage to jump back from Ripple to Bitcoin, lost 11.5 times in the value of their assets! January 4, 2018 - the price $ 3.8 / XRP, September 4 - $ 0.33 / XRP).
It's as if Bitcoin fell from 18,000 to 1560. Do you see the difference?

Bitcoin discussion / Re: What is your best Bitcoin Security practices?
« on: September 06, 2018, 07:13:45 AM »
I think the best way to secure your bitcoin is by using a good user authentication toolkit for your electronic wallet. Have you heard of Trust Sum&Substance? I found information about them here:
Trust Sum&Substance’ user authentication toolkit for ICOs to ensure regulations are met and your company is able to stay in compliance while protecting sensitive data. This program can be used with money transfers, electronic wallets and other financial tools to prevent identity theft or unauthorized access of private data. This program works with web and mobile applications and determines authenticity of documents while complying with local and global regulations. Data is encrypted and stored separately from the decryption keys while constant monitoring ensures regular checks are performed on all aspects of the system. This system provides bank-level security while ensuring you continue to achieve maximum conversions. Learn more about Sum&Substance SaaS toolkit through the company website or email for more information.

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