Marginbuu
Long

XRP a misunderstood crypto currency

POLONIEX:XRPBTC   Ripple / Bitcoin
11004 41 16
XRP is one of the best altcoins, technically and partner wise. There is a major misunderstanding, due to disinformation campaigns on the internet. The main misunderstanding about ripple is, that banks don't need to buy ripples to fullfill their transactions. Banks do need to buy ripple to use the ripple system.

Now that we got that out of the way. There is another main reason why i believe ripple has a better chance to be the nummer 1 or 2 coin than ETH. ETH has very slow transactions thus has excaclty the same problem as bitcoin             . Ripple does not have this problem! Ripples transactions are nearly instant.

Ripple used to have permanent inflation , only a month ago the supply was locked! There will never be more Ripples. This will cause a major rise soon enough.

Another big reason is that the banks that will use Ripple will grow exponentially. Also ripple is being added to nearly all the major crypto exchanges. Even though the market cap of ripple is high. It can grow much higher, I expect ripple to pass ETH somewhere this year. And mayb even bitcoin             the future.


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Banks are only using ripple as a vehicle to move their funds. Yes, they buy ripple, but then they sell it to transfer the ripple into the native currency of the partner of exchange. As far as I understand, the banks are not buying and holding ripple.

In addition, 55 Billion ripple were locked up by the central authority, in order to limit volatility and control price. Banks do not want to buy ripple with the uncertainty that it will be worth something completely different by the time the ripple is exchanged with their partner and transferred to their native currency of choice. A lack of appreciation is built into the ripple model. They don't care if the ripple is worth .30 cents or $30 dollars, they want a stable price. Watch ripple when all the alt coins crash, ripple doesn't crash hard (+-3-4%) and doesn't recover big either. Sure ripple may have a run or two under its belt over the next year or two as market cap rises. But its not going to end up a 10X appreciation coin anytime soon due to the 55 Billion ripple being held by the central controllers.
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gastownhero djjoshallen
@djjoshallen, you are thinking backward. ripple is locking 55 billion xrp to prevent flooding the market with too much xrp. to prevent drop of price.
For each transaction 0.001xrp burns forever. xrp is created to rise in value over time. And of course ripple cares about the price of xrp. it's big portion of the company's asset. Disinformed people often see ripple as a governmental organization that doesn't care for a big profit. ripple is a private company that tries to generate as much profit as possible just like any other companies in the world.
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Marginbuu gastownhero
@gastownhero, ofcourse they want profit, but this also ensures cutting edge technology. people really underestimate ripple. It made sick gains, and it pretty safe to open longs on this level vs btc. Since the price is so stable. A few more banks on the ripple network and up it goes.
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> Banks do need to buy ripple to use the ripple system

Thank you for this clarification. Could you please provide a source for this argument?
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jupiter126 schendera
@schendera, https://ripple.com/build/transaction-cost/ --> hence need to pay some ripple for each transaction
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schendera jupiter126
@jupiter126, Thanks!
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Marginbuu schendera
@schendera, yes jupiter gave the right source, mind this sentence: The transaction cost is not paid to any party: the XRP is irrevocably destroyed. Since no new XRP can ever be created, this makes XRP more scarce and benefits all holders of XRP by making XRP more valuable
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schendera Marginbuu
@Marginbuu, Thank you very much.
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fineregex schendera
@schendera, this is all based on myth / legends. No bank was talking about buying XRP or not yet. Obviously they can run the XRP source code for their own lobby network (as advertised) anytime and have their own xrp2 token for free! Deciding to actually use XRP is no more likely for them than other cyptos. The distribution and transparency of the token is similar. XRP is entry token to a Forex netwotk, but network is not yet that big or efficient.
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