The truth about RIPple XRP !!!
I think that by now everybody has at least heard about Bitcoin's new concurrence, yes you guessed it, Ripple!
I honestly don't know how to describe Ripple's gains in 2017, HUGE, UNPREDICTABLE, UNREAL, or simply INCREDIBLE! As an early investor in Ripple I am quite delighted or should I say EXTREMELY HAPPY with what ripple has become!
However, I am extremely scared of Ripple's future. As seen above, Ripple has done a tremendous job with worldwide banks and is still going strong! Ripple's association with banks is, in my humble opinion, the main reason why people invest in Ripple. However, there is one thing that you have to understand, Ripple's coin, XRP, is absolutely useless! Banks do NOT use XRP, they use (buy) the technology that Ripple has created, and this is the fine line where people get mixed up. I am scared of the day that people are going to realize that XRP has NO use, what is goin to happen to Ripple's coin ?
That is why I took the decision to remove ALL of my Ripples to invest in other coin who have a great future... but that is going to be for another post!
For now, have a good day and invest wisely!
Ripple does have a use though. It allows very fast and low cost transcations like STEEM. STEEM is at zero cost though.
Will ripple ever be used by theese banks? Time will tell. But until then it might see more growth at least in 2018.
Ripple's technology IS being used by some of these banks but not Ripple's coin XRP... But ultimatly you are right, time will tell!
I just don't understand how Ripple is currently worth more than Ethereum. The coins with huge circulating supply seem to be doing well at the moment but I wonder how long it will be before people get bored with them and look at something else?
I do agree with you for Ripple but for Ethereum people won't get bored of it as the majority of coins being created uses ethrereum's blockchain technology.
There is also another thing about Ripple I think you should know. Ripple like you said is the bank's coin, it is solving transaction problems from around the world. As you know, it takes less for you to travel to another country to send money in person to someone rather than wiring the money that takes many days to go through. That's what Ripple's doing, making money transfer done in moments sending from one place to another. But at the same time, it's also a centralized cryptocurrencies which is making the banks stronger which can defeat the purpose of a decentralized network which is why cryptocurrency was created in the first place. No middle man to control the flow of money, nor being regulated by the governments. The people's currency you may say and free market. Thats another issue with Ripple.
I very much agree with you and could not have said it better! Hope people will read this comment after the post!
Thanks for your support and yeah, we need to find more like minded people who will see these contents we do on Steemit.
True, but meanwhile you can ride their rise as long as you know when to get off. We're all participating in the banks game because we're using their fiat. Taking advantage of ripple's market is falls into the same category as playing with fiat currencies or the stock market. There's money to be made if you know how to play the players. And in case you wonder, I don't! lol
Yup! I plan to hold Ripple long term because it is likely to get a lot of exposure in the mainstream and solves the problems of the sloooow bank transfers they had in the past. Lets see what happens to ripple moving forward.
Very informative article thank u so much
Pleasure! Hope it helped you!