The Ripple network is useful, but why would banks want to use XRP instead of fiat currencies on the Ripple network? I have not heard of any reason other than as a bridge currency between rarely traded fiat pairs.
Sure, but banks can also transfer fiat over ripple, cross border etc. If a US bank wants to settle funds with a bank from an obscure country, they might not have USD to x country fiat trading pairs with enough liquidity. But they have usd to xrp, and xrp to x currency. That is what xrp is for. Is there any other reason for them to use xrp? Honest question.
Yea I'm quite new to Crypto's and I don't know much about the back-end mechanics of it but my experience with Ripple has been my favourite, it's SO fast. Plus no fees. Bitcoin for me is so slow.
I am also on the fence. big reason I got into gold/crypto is to get away from the banks. yet, if you want to make money, get in early and hold a position. It is still very cheap, I may hold and see what happens.
Very good blog. I was about to post a similair thread. Only invest in ICOs if you did the best possible research you can do and really believe in the future of the project. Wetter you're a short- or long term holder you should know what you put your money in. Does anyone know about: https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research. For example: https://www.coincheckup.com/coins/Ripple#analysis To watch Ripple Detailed analysis.
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Ripple seems like it has great potential. I've spent a good amount of time researching it recently.
buy it while its cheap, Ripple isnt being comercially developed with 60 banks and 15 large financial institutions because its useless!
The Ripple network is useful, but why would banks want to use XRP instead of fiat currencies on the Ripple network? I have not heard of any reason other than as a bridge currency between rarely traded fiat pairs.
the face that they can send money across border in 4 seconds and save banks 60% on processing fees, thats why
and by the way it will be traded between all fiat pairs, why are you saying rarely? you obviously have not done any research on ripple
Sure, but banks can also transfer fiat over ripple, cross border etc. If a US bank wants to settle funds with a bank from an obscure country, they might not have USD to x country fiat trading pairs with enough liquidity. But they have usd to xrp, and xrp to x currency. That is what xrp is for. Is there any other reason for them to use xrp? Honest question.
Ripple was made for banks. It also has an insanely fast transaction speed.
Yea I'm quite new to Crypto's and I don't know much about the back-end mechanics of it but my experience with Ripple has been my favourite, it's SO fast. Plus no fees. Bitcoin for me is so slow.
I am also on the fence. big reason I got into gold/crypto is to get away from the banks. yet, if you want to make money, get in early and hold a position. It is still very cheap, I may hold and see what happens.
Hi everyone, seeing as this post is about Ripple I thought I'd chip in. I really love to see Ripple do very well. They're a legit company and can become huge. The XRP story is difficult to understand though... I've written a few posts about it. One can be found here (and it will lead you to another few): https://steemit.com/blockchain/@valderrama/with-all-these-deals-and-real-life-use-cases-why-doesn-t-ripple-s-xrp-price-rise
Perhaps you'll find my posts useful, If you can I would love to hear all your insights as well. @rtdcs @southsea @cryptotraderx @inasniom @runrudy
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Very good blog. I was about to post a similair thread. Only invest in ICOs if you did the best possible research you can do and really believe in the future of the project. Wetter you're a short- or long term holder you should know what you put your money in. Does anyone know about: https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research. For example: https://www.coincheckup.com/coins/Ripple#analysis To watch Ripple Detailed analysis.