/biz/ - Business & Finance

>>5057911
You've got a misconception, let me clear that up. So there was recently an escrow. What that means is that Ripple the company locked up 55 billion of its own XRP with a smartcontract of sorts that unlocks 1 billion and returns it to them each month. This was done as an act of good faith to investors that it won't flood the market with its 55 billion XRP. Ripple can choose to sell that 1 billion each month or hold it. So they may sell it, but that doesn't mean they will. It will be in their best interest to let the price go up so they can get some more revenue.

>>5058059
pic related. when bank A wants to send money to bank B on the RippleNet, they can choose to send it with XRP (very simple process on RippleNet; software takes care of the conversion process) and those funds are sent and settled instantly. Traditional systems take 3-5 business days to send and settle. With RippleNet, payments are instant but settlement takes just as long to settle, but with RippleNet + XRP, payments and settlements are both instant, and banks save a lot of time and money.

>>5058001
South Korean FOMO buyers

>>5057972
I didn't say it was sustainable, but this is a good short-term trade.

>>4990574
Some of them are completely usable at large scale. Pic related, unfortunately /biz/ hates it and the company itself doesn't encourage it for anything other than enterprise use by banks. Would be great for mass adoption.

>>4902859
XRP is actually amazing. Too bad it's only meant for banks.

>>4868507
Nope. XRP is all they have. Why would they waste time, money, and effort developing another coin when this already exists and performs better than 99% of everything else in crypto?

Most legit thing in crypto. Retards like fagboy here>>4829748 hate that it hasn't exploded for no reason like all his scamcoins. But XRP is one of the few things in crypto with an actual use case, and out of those things with an actual use case, XRP is one of the only things that can actually do what it's intended to do without worrying about speed, transaction fees, or scalablity.

Now you could always research things for yourself, or you can listen to screeching autists shouting "duh joos" while losing all their money on scamcoins.

>>4725850
Same. I think 2018 is going to be a big year for XRP and LINK. Maybe ETH too.

>>4725586
It's a digital asset that can actually handle mass consumer use. Bitcoin can't even handle the volume of a medium-sized walmart.

>>4701016
Banks literally need the coin to get these gains though. Seems like a huge waste of great tech if it never gets used. I think it's less of an issue that banks won't use it, and more of an issue that banks need time to warm up to the idea of cryptocurrency.

>>4685568
Same thing that bitcoin does, but much faster and on a much larger scale so it can be used by banks instead of Timmy down the street trying to buy drugs on the darkweb. Pic related

XRP beats out both of them. And ETH isn't even meant to be used as a currency, it's not even a direct competitor to BTC. So you really only have XRP, which can handle payments in real time and handle the same throughput as Visa, and then you have Dinosaurcoin, with transaction times that take like 8 hours to confirm and can't handle the transaction volume of a medium sized walmart.

>>4398231
holy fucking shit this is one of the most retarded posts I have ever read on here, and that's including the pee pee poo poo guy. You clearly have no idea what you're talking about.

Try do some fucking reading and learn what XRP actually does and how it works in the Ripple network. XRP is 100% NECESSARY to accomplish what makes Ripple stand out in the first place. That is, XRP's transaction times allow for an instantaneous transfer of monetary value.
>Bank A wants to send $100k to Bank B
>Bank A uses Ripple network to convert $100k USD into $100k worth of XRP
>$100k worth of XRP is then instantaneously sent to Bank B, where it is immediately converted back to $100k USD or whatever currency they want
This is literally Ripple's primary selling point. The ability for banks to instantly transfer monetary value without waiting 3-5 business days like you do with traditional systems, or 4-6 hours like you do with bitcoin. And it is literally impossible without XRP. You can get faster times than 3-5 days, but you won't get instantaneous speeds like you do with XRP.

No wonder you fucking kids lose all your money and post pink wojaks all the time. You have no idea what you're talking about you you just parrot a bunch of bullshit from one another that's not even true in the first place. Do some fucking research and shut the hell up.

>>4393519
XRP is Ripple tech. Don't be retarded. It's what will allow banks to transfer large amounts of value overseas in a matter of seconds. It's literally impossible to do it that quickly without XRP. Pretty sad how many kids here have no idea what they're talking about.

>Bank A wants to send $100k to Bank B
>Bank A uses RippleNet to convert $100k to XRP, thereby now owning $100k worth of XRP
>Sends $100k worth of XRP to to Bank B in a matter of seconds
>Bank B converts the $100k worth of XRP to USD or whatever currency they want
It is impossible to do it this quickly without XRP. It is at the core of their technology. Nothing is faster than XRP.

It's amazing how many retards there are on this board, trying to compare it to LINK. LINK doesn't even do the same thing.

>>4133209
I mean functionally, it's better than bitcoin.

who here getting /comfy/ for the conference?

Oracle problem, more like speed and scaling problem