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/biz/ - Business & Finance

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5765560 No.5765560 [Reply] [Original]

1. Banks are very powerful
2. Cryptocurrency is an annoyance to them
3. Ripple is owned by banks
4. If the banks managed to prop up Ripple to such a great value that everyone would transfer their BTC/ETH/whatever into Ripple, the banks would ultimately dismantle decentralized cryptomarkets and again remain in power
5. As Banks are very powerful as stated before, they should be able to achieve this

So why not hold in Ripple until the Banks BTFO the cryptomarket?

>> No.5765750
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5765750

>> No.5765781

This market is stressful enough. I only invest in things I know cant crash to zero when I sleep. Thus I have no money in cripple.

>> No.5765837

>>5765781
Pretty much, banks could crash ripple and take all the BTC/ETH in a few minutes, no fucking way I would touch that shit.

>> No.5765909

>>5765560

Because when you buy Ripple, you're selling the banks BTC or ETH for digital fiat that they control.

>> No.5766062

>>5765909
So fucking what if the fiat becomes much more valuable than BTC?

>> No.5766087

>>5765560

Some banks will and use fiat to get cripple. XRP did not appear last month to fuck with BTC, but to transfer money between banks. It was not created to be especulated with, we inflated the value, we sold or hold. If you want to be paranoid, the enemy is us.

>> No.5766169

>>5766087
>Ripple provides one frictionless experience to send money globally using the power of blockchain. By joining Ripple’s growing, global network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.

>Banks and payment providers can use

>CAN use

>> No.5766395

>>5766169

I know the official statements. It implies that ((they)) can use Ripple network with XRP, or a token of their own.

Now, think of a bank in australia sending money Europe, or east pacific to central America. Are they gonna use their own tokens, or something existing that cut costs? I work as engineer for bank, and I can tell you the people in command would sell their mothers for saving few cents and getting the merit.

>> No.5766601
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5766601

>>5766169
>can use

and they do, unlike Bitcoin, XRP serves a real-world purpose, and Ripple speaks to an industry that is worth trillions of dollars.


In 2018/2019 you will be using it to pay for everything online (pic related), and institutions are starting to jump on board too, this was just announced:


>In a precedent-setting moment, Cuallix became the first worldwide institution to use xRapid — Ripple’s solution that utilizes XRP as a liquidity tool — to reduce the cost of sending cross-border payments from the U.S. to Mexico.

.
https://ripple.com/insights/ripplenet-grows-to-over-100-financial-institutions/

.
2018 will be about utility and Bitcoin will be dethroned.

>> No.5766705

mfw I just redpilled half of /biz/ and i only got into this shit last week, high-IQ pays off again

>> No.5767361

>>5766601
Bitcoin would just implode and destroy itself. It won't be the fault of any coin.

>> No.5767421

>>5767361
This. Bitcucks have to grow up and accept reality.

>> No.5767541

>>5767361

>> No.5767865

>>5765560
Pretending your timeline is true, let me continue it
6. Banks do shady shit to manipulate and devalue ripple, once it has full control of ripple
7. causes people to lose confidence in ripple
8. More decentralized coins pop up like btc did in 2008

Fundamentally, central planning of power cannot be maintained over time. If ripple were used to centralize crypto, it collapses due to people frustration with misuse of centralized power

If you are just saying ripple could spike and dominate crypto for a couple of years, I agree with you it is possible. That is a basic understanding anyone can see though, it is why normies pumped it from .25 to $2. But it is not the nwo coin, end of all crypto, etc because it can't stay benevolent