/biz/ - Business & Finance

>>2018148
they wont ripple is a massive pnd, all they said was that a few banks in Japan were being shown it

>>2018148
Because it's not a store of value coin like eth or btc. It's a digital asset meant to facilitate payments that uses blockchain to keep secure and trustworthy.

Easy explanation: currently banks use cumbersome and immensely slow methods to send money to each other (nostro accounts for example). Ever try sending an international wire payment and wondering why it takes it 3 weeks and costs so much? The reason is because physical money is first mailed to recipient bank to create "trust" with them.

XRP gets rid of all that. The actual framework is Ripple Consensus Ledger which banks will use but which has Xrp as its native token. Banks could opt to use the RCL and not xrp but that would be like buying a motor boat with a motor and using oars to move it.

>>2018192
but it says right here http://www.cnbc.com/2017/03/01/japanese-banks-plan-to-adopt-blockchain-for-payments.html

That they are already planning to adopt

>>2018192
yeah wow total pump and dump.. retard.

>>2018212
Sounds good.

Does this have to do with the fact that the supply of Ripple is already pre made?

Is the reason people say its going to moon is because the price for each will have to be raised in order to transfer more money?

Because im assuming that banks will be using it to transfer millions of dollars everyday. So if that were the case, it would seem silly that they would have to transfer 10 Million Ripples just for 10 k dollars.

>>2018220

>>2018220
totally legit

>>2018220
nothing to see here

>>2018212
>XRP gets rid of all that. The actual framework is Ripple Consensus Ledger which banks will use but which has Xrp as its native token. Banks could opt to use the RCL and not xrp but that would be like buying a motor boat with a motor and using oars to move it.
Is this something ethereum network can do as well?

>>2018233
>>2018236
>>2018241
I'm not sure if you're trying to use that as proof it's a pump and dump coin, but that's actually evidence of exactly the opposite. Controlling growth is a good thing for stability. This just makes it a good long term investment.

>>2018212
Building off of this, eth and btc could potentially be used on the RCL, but they are highly volatile and btc at least is really slow (defeats purpose). Eth might work b>>2018223
>Sounds good.

>Does this have to do with the fact that the supply of Ripple is already pre made?

Yes. That reduces volatility simply because less uncertainty about who has how many and fears of a massive dump. The majority holders are all under legal restrictions on how much they can sell.

>Is the reason people say its going to moon is because the price for each will have to be raised in order to transfer more money?

Not necessarily. I would like to say it won't moon but instead go up naturally. That would be a lie though since it has mooned three times since January. Essentially, of banks begin to use it,they must hold some amount of it. If 200 banks all buy 5 million each (which is unrealistically low for a bank) that's a billion xrp off the market. XRP playing the long game.

>Because im assuming that banks will be using it to transfer millions of dollars everyday. So if that were the case, it would seem silly that they would have to transfer 10 Million Ripples just for 10 k dollars.

Yes exactly. This is why many people expect the price to reach at least 1 USD.

>>2018272

yeah, but at what speed and at what cost?

>>2018236
>>2018223
Are there any good mainstream coins with a largely non-pre-made supply?

The "currency" is 100% controlled by the ripple company. They can censor transactions, confiscate your ripples and print as much ripples they like. Banks like control. Nothing of this can be done with real cryptocurrencies (btc, eth, xmr...)

>>2018374
In fact, that is not a bad thing from a commercial perspective. That way you can track money launderers/carders/fraudsters and reverse the payment in case of an emergency.

Is XRP good for long term ?

>>2018926
so good.

*Aggressively confronts you and demands you hand over your spare XRP*

r3LNjWChqiSjhdFpTwLq2fpTnZZkPBqHy

>>2019176

>Has two fully dextrous hands

>Begging

No.

>>2018148
Banks do not use XRP that is traded and held on exchanges. Banks use the Ripple service which isn't connected to the coin whatsoever. The XRP coin has no value since it's not required for the service. If you want a coin that will be used by banks, look at Factom or Iconomi.

>>2020480
whats all the talk about it being used as a bridge currency