The cryptocurrency Ripple is a get rich quick scheme for it's founders

Ripple is currently closed source and controlled by a small group of people who reserved 20 billion XRP for themselves. People say they will open source it eventually but they won't do it now because they don't want to lose control.

Is this not against everything that cryptocurrencies stand for? Collaborative development, healthy competition of cryptocurrencies, many eyes looking at the source code to try and find bugs and security issues. So then why is Ripple still closed source?

Simply because the creators want to get rich from it. As I stated above, they kept 20 billion of the 100 billion total XRP. They want THEIR VERSION of Ripple to gain legitimacy so that they can sell those coins and become rich. If someone were to fork Ripple and make a better version, it would be beneficial to EVERYONE except the founders of Ripple. And this is why, plain and simple, Ripple is a scam. They're deliberately hurting and hindering development of the Ripple protocol to make some money themselves. They will only open source it when there's a guarantee that their 20 billion XRP will be worth something.

Imagine if Satoshi had premined 4,200,000 BTC and kept it JUST FOR HIMSELF. Everyone would be screaming what a huge scam Bitcoin is. This is the situation that Ripple is in, where the founders are keeping 20% (!) of the total currency.

People say "but the XRP is just designed to be an anti spam measure, it's not a currency, it won't have value" but in order for it to work effectively as an anti-spam measure, XRP MUST HAVE VALUE. The creators of Ripple know this, and if XRP's are even worth a single penny each, the creators have 200 million dollars. You don't need to create a new cryptocurrency to prevent spam, you can just use a standard image captcha like every other website on the internet. But you can't get 200 million dollars by simply implementing a captcha, can you?

If you like the idea of Ripple, please, create your own OPEN SOURCE version of it. Other people, including myself, will contribute and make it a million times better than the current version of Ripple. And it will be owned by the community, not a bunch of shady businessmen trying to get rich quickly. Let's not forget that the owners of Ripple BOUGHT it, and they expect to make a return on their investment.

TL;DR; Ripple is not decentralized like Bitcoin, it's closed source so the founders can make sure that they will get a big fat payday once it takes off. Don't let the shady businessmen who bought it pull the wool over your eyes!