Bitcoin [BTC] is one of the greatest inventions in the history of mankind, created by the anonymous genius Satoshi Nakamoto. It came into being in the light of the economic recession in 2008 and was an anarchist rebellion against the very structure that brought down the entire world economy.
This drove innovation in the most unlikely of places and united one of the most divisive factions in the entire world; anarchists. Even now, the presence of Bitcoin is felt in the market as it controls more than half of the money in the entire cryptocurrency space.
It also took away power from a central party, as control over any currency is bound to cause trouble for its users. This combats especially against inflation, which Bitcoin is created to destroy. The architecture of the currency itself decreases the amount of Bitcoin in circulation, making it a deflationary currency.
Ripple’s XRP on the other hand, is starkly opposed to this ideology. Created by a corporate company, the security token is a representation of everything that Bitcoin has set out to remove from the world. It is not decentralized, as the entire network is only run by Ripple, the company. Moreover, instead of removing power from governments and related parties, Ripple is helping the banks, one of the most hated and power-hungry institutions in the entire world.
Along with the fact that this currency is heavily centralized, it was also premined. This means that all 100 billion of the coins were created out of nothing, just like the existing money system we have today. Moreover, 60% of all the coins in circulation are still held by Ripple, allowing them to dump it all on the markets if they so choose.
While Bitcoin holds power in its decentralization and derives value from deflation, the combination of factors in Ripple’s XRP cryptocurrency makes it doomed to fail. It is only a matter of time until Ripple sells all of the XRP it holds to the banks. This will squeeze the investors who have poured their hard-earned money and possibly their life savings in the cryptocurrency.
The holders and users of the XRP security token must realize that this is one of the last chances they have to get out of the coin before it goes to 0 when Ripple dumps its coins. Sell XRP and buy Bitcoin, the one and only true cryptocurrency in the world at this moment.