@VincP3 Why shouldn't a premined coin that is controlled by a company and has no application in RippleNet be a shitcoin?
What does XRP exist for? Ripple Labs was able to generate significant revenue without having to fulfill the regulatory requirements of an IPO.
Is XRP decentralized? No. Do banks use XRP for transactions? No. Will they ever do so? Highly unlikely.
It's hard to imagine a bank accepting a system where most of the supply is in the hands of a centralized company. Even if Ripple Labs were successful and banks were to use RippleNet instead of SWIFT, XRP would be irrelevant.
Why is Ripple launching its own stablecoin now? The answer should be obvious.
Ripple Labs regularly sells XRP shares to generate liquidity. Basically, this is the equivalent of a long-drawn "rug pull", where XRP holders are the company's long-term exit liquidity.
