Re: Ripple: A revolution, or a pre-mined currency scam? ANALYSIS
I dont understand how ripple prevents spam since XRP is virtually worthless.
XRPs must be scarce to prevent transaction spam
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Users will prefer XRPs as part of a trade over any IOUs
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...there is already a robust trade in XRPs for other currencies like Bitcoin, US dollars, and foreign currencies...
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Users will prefer XRPs as part of a trade over any IOUs
...
...there is already a robust trade in XRPs for other currencies like Bitcoin, US dollars, and foreign currencies...
Do you call this "virtually worthless?"
If you control the issuance of a currency, you can control the exchange rate. Bitcoin is popular precisely because no one directly controls the issuance of the currency. Ripple is troubling for the opposite reason.
It definitely looks like a classic alt coin pump and dump.