The XRP topic

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Douglas Johnson
Rank: Uncle Scrooge
231 posts
Joined 2019-01-02
By Douglas Johnson on February 13, 2020, 03:02 ET Post #1

Do you guys believe in XRP? It's had little action these last months. Is it sleeping and waiting to come back strong? Just concerned that apparently Ripple wants to go through an IPO process. Would love to get your view.

Crypto lover
CelsiusInvestor
Rank: Carlos Matos
42 posts
Joined 2020-02-12
By CelsiusInvestor on February 13, 2020, 04:02 ET Post #2

Personally I don't trust XRP. XRP and Ripple is not the same. If you invest in XRP it doesnt mean that you are participating in XRP Economy. Celsius is completly different then XRP and the Token got a utility. What has the Ripple Community really done that makes it worth 13 Billion?

The world needs banking, but it does not need banks. #UnBankYourself
CryptoGirl
Rank: Moonboy
53 posts
Joined 2019-08-07
By CryptoGirl on February 13, 2020, 04:02 ET Post #3

but..... it's fast!

I want la bella vita
CelsiusInvestor
Rank: Carlos Matos
42 posts
Joined 2020-02-12
By CelsiusInvestor on February 13, 2020, 04:02 ET Post #4

The Protocol itself doesn't have value. I can make a copy of Bitcoin and it doesn't mean that my Cryptocurrency will have value. There is the difference between the value of the blockchain and the value of the Coin itself, the value of Bitcoin is because of the community and developer that build and use it.

The world needs banking, but it does not need banks. #UnBankYourself
CryptoGirl
Rank: Moonboy
53 posts
Joined 2019-08-07
By CryptoGirl on February 13, 2020, 04:02 ET Post #5

but it's used by so many banks now!

I want la bella vita
CelsiusInvestor
Rank: Carlos Matos
42 posts
Joined 2020-02-12
By CelsiusInvestor on February 13, 2020, 04:02 ET Post #6

Just because many people use email doesn't mean that Email is worth 13 Billion. You actually need a really small amount to settle XRP. You basically need only like 100$ of XRP to participate in the Network to pay the transaction fee. Banks don't need to own XRP. There is a huge difference between XRP and Ripple. Banks use the Ripple Network they don't actually buy XRP. It is Retail Investors who want to get rich quick that are buying XRP.

The world needs banking, but it does not need banks. #UnBankYourself
Jack Anderson
Rank: Carlos Matos
43 posts
Joined 2019-05-14
By Jack Anderson on February 14, 2020, 04:02 ET Post #7

My take on XRP from two years ago.

It is January 2nd, 2018. Financially, December was quite the month, to say the least. On one side, Bitcoin and cryptocurrencies grew exponentially, on the other, US President Donald Trump announced one of the biggest tax cuts in America's history.
In the beginning of this new year, a prediction needs to be made. Where will the cryptocurrency market be, not only at year end, but in ten years from now? No one can know for certain. Many are calling cryptocurrencies the biggest bubble since the subprime bubble of 2008, which took place ten years ago.
The market capitalization of cryptocurrencies is currently at 653 billion dollars (USD) and growing. There are currently 36 cryptocurrencies valued at more than a billion dollars.
Here is the list of the top 10, including current value per token:
1. Bitcoin ($14,073)
2. Ripple ($2.42)
3. Ethereum ($887)
4. Bitcoin Cash ($2,642)
5. Cardano ($0.77)
6. Litecoin ($262)
7. IOTA ($4.2)
8. Stellar ($0.56)
9. NEM ($1.12)
10. Dash ($1,152)
One thing is guaranteed, this list of top 10 cryptocurrencies will change. We won't need to wait until December 31st to see it. But it will be interesting to see the effect of time on these volatile values. Because the crypto market is extremely volatile. The values are increasing rapidly and going down as fast. Some are betting on the name, on the icon or simply on price. Valuation of these assets is as virtual as the assets themselves.

IS BITCOIN A CURRENCY OR A COMMODITY?
The aim of Bitcoin was (or still is for some) to be a virtual currency. Simply put, you could pay for a pizza with some Bitcoins. Some even went further and said that the world didn't need banks anymore.
But then, the price of one single Bitcoin exploded. One single Bitcoin went from a few penny to $20,000. Who in their rightful mind would even be interested to keep their savings in a currency that fluctuates so much? Because if it can go high, it can go down ? and much faster.
This leads to the following question: is Bitcoin a currency or a commodity? As of today at least, Bitcoin is looking much more like a commodity. Bitcoin is virtual gold. But while gold will always be gold, Bitcoin's valuation is based solely on its name. And of course, competition is around the corner. Some other currencies such as Ethereum or Litecoin took major market share from Bitcoin in a very short amount of time.

THE RIPPLE EFFECT
But out of all of those cryptocurrencies, there is one asset that is completely different from the others. Its name is XRP, created by the company Ripple. Ripple is actually a company that aims to solve one particular problem. To send $10,000 from New York to London, the fastest way is to drive to JFK, take a flight and physically go to London with a briefcase of money. This alone seems anachronic. Ripple has a solution for that. They bring their cryptocurrency (XRP) in the middle of what we call the standard fiat currencies (US Dollar, Euro, etc.). The value is converted to Ripple and then automatically converted to the recipient's currency. This transaction takes less than four seconds.
This alone is a revolution in the world of finance.

THE FUTURE AIN'T WHAT IT USED TO BE
So, while the public and most of the media are focused solely on Bitcoin, there could be a massive opportunity for Ripple's solution and their XRP token. The price could skyrocket and make Ripple one of the only real cryptocurrencies, while the others see their price crashing in the following months or years.
Now that the Blockchain technology is available, it is time for real life test cases. One prediction could be that Bitcoin will become a virtual gold, while some other coins like XRP could have concrete purposes.
But only time will tell.


https://www.thefinancer.org/?page=news&id=1

The greater our knowledge increases the more our ignorance unfolds. — JFK
CelsiusInvestor
Rank: Carlos Matos
42 posts
Joined 2020-02-12
By CelsiusInvestor on February 26, 2020, 03:02 ET Post #8

Jack Anderson, I personally understand why you think XRP is a good Cryptocurrency. First of all, XRP isnt really a Cryptocurrency. Why?

1. It doesn't need mass adoption.
2. It isnt decentralised.
3. It doesn't need consensus.

The only thing that XRP does it exchange value from Bank A to Bank B. The Value of a Cryptocurrency isnt in the protocol itself. JP Morgan did a hardfork on the Ethereum Blockchain. It is worth 1 Billion now? No it isnt. Litecoin is a Hardfork of Bitcoin is it worth as much as Bitcoin? No it isnt, there are many Hardforks of different Blockchain, but the real value of a Cryptocurrency is that it needs consensus, by using a Cryptocurrency you are giving it value. Gold is a commoditity. Sea Shells, Beans, those are all commodities that people used as money. But why has Bitcoin value? Because we, the community believe it has value, that is can buy a Pizza or so.
XRP is different then Bitcoin, what XRP does, it extracts value from the community. Currently you see each month more Ripple get dumped into the market and they are extracting money from the community. How has XRP made your life better? How has Bitcoin made people's life better? I sold over 1000 Bitcoins myself and I earned around 2-5% commission and I paid localbitcoins and other platforms 1% escrow fee. So the reason why Bitcoin has value for me is because is freaking makes me money. How has XRP made money to me or made my life easier or cheaper or better? It hasn't. I can use Tether if I want to send money to someone or Paypal, I listen to Alex Mashinsky YouTubes right now and I personally think he explains most of the things that I have mentioned also in his Videos.

The world needs banking, but it does not need banks. #UnBankYourself



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