Manager of Ripple cryptocurrency exchange arrested for scam

The contact section does feature an address though, Hertaksentie, 2.

So far so good. Since then, I have updated my thoughts and released them in a blog post for Hackernoon. 

Since Ripple is playing nice with the banks, this means "it's not real crypto. They should accurately represent the content being linked.

Ripple Exchanges 

simpsons-online.tk looks like a legitimate operation at first glance. It offers Ripple wallet services, and it delivers a perfectly reasonable pitch: create a wallet at the site and start sending and receiving Ripple – considered by many the best virtual money out there. So far so good. simpsons-online.tk does not carry any of the telltale traits of cryptocurrency .

Yes, it is hard to believe scams can be this simple and straightforward, but sometimes a scam is just a straight-up, grab-the-money-and-run setup, without any of the usual bells and whistles. The name is obviously a fake one, and while the address is real probably just a random pick , the phone number provided by the whois listing is a fake one as well.

Account creation is as simple as giving a name and an email address. The perpetrators do not want to erect needless obstacles in the path of their would-be victims.

The About Us section of the wallet-ripple. The contact section does feature an address though, Hertaksentie, 2. Vantaa, , as well as an email address: Complaints Reddit seems to be the primary channel for wallet-ripple victim complaints. The community feedback generated by these complaints is scathing: Popularity According to the Alexa. It had a global rank of 2,, The rudimentary nature of the scam seems to be its strength rather than a weakness.

Besides the direct damage they do, such daringly straightforward scams give the entire crypto industry a bad name. As soon as you do, your Ripples will be gone for good. So old that if you want to send money to another bank, it takes business days, can only be done when the banks are open, and is very expensive.

Ripple's CEO says it's easier to get on a plane with a bag of cash, instead of sending it through the banking system. Ripple is looking to replace SWIFT and it has a helluva chance in doing so because its transactions take 3. MUFG will utilize Ripple's blockchain to keep track of account balances in between different global banks they work with. They aren't using Ripple's crypto currency yet, XRP. That's because the first phase is to get banks using the blockchain, then convert them over to XRP to settle up balances.

You might have heard the common criticism of XRP as an investment; the banks don't have to use it, so it's just junk! The second phase of Ripple, getting banks to start using XRP to settle up balances, truly won't be implemented for another years. But in the meantime, XRP be slowly implemented in the early adopting banks, which means the supply of available XRP will slowly go down, thus bringing up the price. The other concern is that most of the XRP in existence is held by employees and shareholders of Ripple.

This could mean that at any point in time, the majority of XRP could be dumped by Ripple employees, which would send the price crashing.

 

Want to add to the discussion? 

Ripple is not a scam. It's banks adapting to a new global currency and banking system. Honestly I think it's pretty cool, and I think it will help these banks stay alive for longer. This is not a B2C blockchain, it's a B2B. Yes it's partially centralized. Ripple never tried being anything else.

Ripple is a scam from CryptoCurrency As many of you have likely noticed, Ripple has skyrocketed in value, becoming the 2nd most valuable cryptocurrency by market cap (reaching close to $9 Billion this morning). No, Ripple is not a scam. Ripple Labs is solving a very real problem financial institutions are having in trading across borders and between organizations. This does not mean that there are not significant issues with XRP, or that XRP is a good investment. 

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Welcome to Reddit,

No Ripple is not a scam. It's a product, [BASED UPON] open sourced project and an attempt to resolve some cryptocurrency to fiat concerns we have in the existing exchange model. I like to think of Ripple as a meta-currency . Scam or not, Ripple is Bitcoin's competitor. Ripple CEO was boasting that they implemented "the second generation of Bitcoin". Which implies that the first generation, that is Bitcoin itself, is obsolete.

Ripple's CEO says it's easier to get on a plane with a bag of cash, instead of sending it through the banking system. Ripple is looking to replace SWIFT and it has a helluva chance in doing so because its transactions take seconds and is 80% cheaper. Get Ripple reviews, rating, sentiment score and other cryptocurrency info. Research the Ripple project, team and whitepaper so that you can determine if Ripple is a scam.

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