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It's no secret that most hardcore cypherpunks and bitcoin maximalists are fierce objectors of just about everything related to Ripple and XRP. It starts with the simplest confusion and disagreement about the name of the currency (is it Ripple or simply XRP) with accusations that it is a centralized coin that does not deserve to be called cryptocurrency.
However, if we put these allegations and accusations aside, especially those concerning centralization, this makes little sense since virtually the entire market is nominally decentralized but essentially centralized. Even Bitcoin, the spearhead of cryptocurrency is in constant attack danger of 51% if two or three larger mining pools decide to hear. Iota can not function without a centralized coordinator, NEO has 7 masternodes controlled by only two entities, etc.
Yesterday, the news was announced that Ripple had formed a lobby body to promote the interests of cryptocurrency in Washington DC. According to Coindesk, Ripple is leading a number of organizations that are launching a lobbying group. Called Securing America's Internet of Value Coalition (SAIV), the group includes, besides Ripple, the RippleWorks Foundation; Coil, a company developing a solution for digital payments; Hard Yaka, an investment firm specializing in digital assets; and PolySign, a company seeking to be a custodian of crypto.
Most participants have links to Ripple; For example, Coil was founded by former Ripple technical director Stefan Thomas and Hard Yaka worked on a prepaid card allowing users to spend Ripple balances in real time.
It is very popular among the naive part of the cryptographic community to have totally opposed to regulation, cryptographic rules and anarchy, etc. This sounds very appealing and you probably seem very cool for your like-minded peers, however, it's surely a path that leads nowhere. How credulous are you to think that the elders who designed and directed the order system of this world will simply let a group of marginal insurgents build a parallel system to theirs and render it obsolete?
And that's where Ripple comes in and that's where Ripple contributes to the common cause of crypto-currencies. Their business is run by top executives who know the ins and outs of this world-changing machine and know how to follow the rules and get what you want. Every country, company or other entity has its lobbyists who are in the ears of the decision-makers in the strongest country in the world. Ripple executives know this and are trying to implement the same thing in crypto.
The message to the romantic rebels is clear: when the Second World War broke out, the greatest threat had to be eliminated. The usual opponents like Russia were therefore a welcome ally. Once the common cause of defeating fascism and Nazism was over, we could become "enemies" again with different points of view.
Anyone who advances the common cause of cryptographic movement by "fighting the external adversary" is welcome. Once we have reached the common goal, we can come back to the resolution of our internal differences and give ourselves moral lectures.
Authors and authors of CaptainAltcoin guest publications may have a direct interest in the projects and companies mentioned. None of CaptainAltcoin's content constitutes investment advice and does not replace the advice of a certified financial planner.
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