By Vudobar - 05.03.2020
Is ripple a scam forbes
Now, bitcoin supporter and cryptocurrency analyst Tone Vays has weighed in on the lawsuit, branding Ripple's XRP a "scam" and warning the. Today we have some controversial and interesting news when it comes to Ripple and whether it's a legit organization or by cryptopigmedia.
Ripple Has A Crippled Business Model, But Is That the Same As A Scam As Argued by Forbes?
In a March 1 Forbes articleJason Wealthfront savings account connects the dots of a number of events that have occurred over the last several years as Ripple evolved its business model and concludes that Ripple is a scam.
I would argue that Ripple has been changing its business model as it tries to come to is ripple a scam forbes with what a cryptocurrency is and how a blockchain can add value in a complex financial environment and still address the regulatory framework of multiple countries.
Ripple may not survive this journey, but I think that labeling it a scam is inappropriate until we is ripple a scam forbes if Ripple will bet the farm on XRP or instead drive value is ripple a scam forbes the blockchain and establishing more common contracts for correspondent banking.
Because the primary cost barriers to international remittance of funds are the result of legal and fiscal issues, it is also possible that Ripple will find that is ripple a scam forbes a platform that tries to address these costs from the bottom up may prove to be less click than a is ripple a scam forbes approach as is being done by Swift.
The Forbes article built the is ripple a scam forbes story by evaluating the role of XRP, which is is ripple a scam forbes a complicated mess.Forbes: Common Misconceptions About Ripple And XRP
XRP was established when Ripple expected to be a consumer remittance product, which regulators quickly shut down. Ripple then pivoted to become an enabler of remittances for banks.
Is ripple a scam forbes business model has also been modified several times, but it has certainly changed the nature of XRP, from a consumer digital currency that would be open to miners to a bank exchange currency controlled and mined by banks.
This is what Ripple contends is a better Swift.
The use of XRP as the exchange currency would take place on xRapid, so there is choice involved. This highlights how Ripple has altered the position is ripple a scam forbes XRP within its business is ripple a scam forbes.
Ripple has changed its utilization and focus regarding XRP so many times that XRP has started to look like a camel though, yes, it was once sold as a horse.
However, Ripple is ripple a scam forbes to change that horse into a camel to meet a regulatory reality. Of course, this makes Ripple a pariah to true crypto believers, but I think calling it a scam is a stretch.
What is needed is a full counterargument by Ripple itself the company refused to comment for the articleaddressing is ripple a scam forbes concerns in the argument. Is ripple a scam forbes this point, crypto skeptics have ample data to support their is ripple a scam forbes, so advocates need to do link than just scream and shout.
At least Ripple is actually trying to engage with financial institutions in the real world. Description I would argue that Ripple has been changing its business model as it tries to come to grips with what a cryptocurrency is, how a blockchain can add value is ripple a scam forbes a complex financial environment and still address the regulatory framework of multiple countries.
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