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by xbkingx 3007 days ago
It gets better. The intermediate layer is controlled entirely by Ripple and closed source. The coin only exists to provide 'liquidity' and improve confidence from financial institutions. In essence, Ripple is just a payment processor riding on the crypto hype and the coin is simply an unregulated stock. This is the latest attempt to pump prices and generate PR. No one makes money when prices are stable.

(If anyone reading this likes their products, that's fine. Just realize what you're getting into first. It's actually a very entertaining currency to watch from the sidelines.)
1 comments
anichhangani 3007 days ago
> The coin only exists to provide 'liquidity' and improve confidence from financial institutions.

Can u please elaborate what are the other traits a coin can exhibit other than providing value? And what are the other purposes of coins such as bitcoin/litecoin/ether etc.

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kolinko 3007 days ago
In case of Eos, you need to own the tokens to run smart contracts on the network (mire you have, more % of processing power you get).

In case of Ether, besides being used for transaction fees, it will be used for providing security/governance (token holders kind of voting on what the next blocks are), but also as an underlying store of value (e.g. as a collateral for tokens pegged to fiat currencies - see MakerDAO)

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