Ok, yeah SO WHAT? Ripple is a business and like any business they implement controls to protect their business model. If you dont like their business model why buy the currency in the first place?
Arguably Ripple is appreciating in value because investors are realizing that of all the cryptocurrencies on the market, they (Ripple), perhaps have the best portfolio of customers ( high net worth customers ) . Why is that a bad thing? They are solving a problem for financial institutions and big corporate entities. Bitcoin attempts to solve a different problem (but frankly I think they are failing at it and doing the opposite of their original mission by restricting or dropping transactions that are not profitable for miners). Think about that, bro. Bitcoin is more about currency speculation than a service for “freedom lovers” like yourself.
I am big on Ripple and similar minded players for that very reason. I want to know that any company I am investing in has amazing clients, high value clients, clients that have access to money and will support the business in all ways imaginable. In other words, is their business model sustainable WITHOUT the currency markets or an ICO.
I want to support a company or cryptocurrency that goes out of its way to reduce client costs for using their service (like STEEMs’ no cost transactions). With a straight-face can you truly say that Bitcoin is committed to that or are they primarily interested in maintaining the status to create wealth for the miners and speculators? Is that mission better or worse that the so-called mission of the fiat banks and now Ripple?
If not, your argument makes zero sense to me.
With all this said, if your primary goal is the freedom of movement for your money then select a different currency. Sounds like commonsense to me. Obviously you are not seeking to make money (with a currency that will ultimately prove to be most stable), you are championing the purity of Bitcoins’ original business model. Bro, unless they improve their network capacity, those days are gone.. Don’t hate on Ripple because as of late they are winning….encourage Bitcoin to fix its network so it can scale and make it affordable for anyone to buy a cup of coffee at Starbucks. When they do that, then we can talk again.
RE: The truth behind Ripple, and why I sold it all