Recently, Brad Garlinghouse Ripple CEO, answered a question asked by one of the Quora users. The question was, Why should I invest in Ripple?
The answer wasn't what I would expect from a business person who is looking forward to take on the financial world. I would say that Brad was a total d**k. Although, the right question should have been, "Why should I invest in XRP?".
There are many wonderful coins out there looking forward to grab some capital. They are very much active with their promotions, hosting webinars, seminars and touring the world to attract investors. From his response, it seems that Brad doesn't care as much as other does.
But why?
Because, he doesn't need you. Don't you understand that? His direct target customers are the Banks, and institutions. He takes the Banks on-board the Banks takes you on-board.
There's no you. You are just poking your Nose in his business.
In contrast;
Let's see what Brad himself has to say;
Reveal spoiler
No wonder why he was responded with this;
Reveal spoiler
Those who holds their XRP should understand that Ripple and XRP are two different things. The success of Ripple doesn't mean the success of XRP currency. The Banks/institutions can use the Ripple platform without using any of the XRP currency though it would cost less as compared to using others. But it's not an obligation. It's just their native currency.
As Brad further goes on saying;
You can see that XRP success is based on an assumption i.e; If the Network grows. But this isn't true. As I said above, the Network can grow but XRP may or may not, since it's not an obligations.
For example, I can say the same with 100% confidence about Ethereum. If the Ethereum platform grows the price of ETH will grow as it's usage will grow. But I can not say the same about XRP.
I may be totally wrong. I may be absolutely correct. I leave that up to you. I have been very vocal about XRP because I don't want you to get rippled off. There's great misunderstanding regarding Ripple network and XRP currency. It is ridiculously hyped.
For more about Ripple, read my previous write up at;
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Banks and people are not friends. The reason blockchain was launched is written somewhere in BTC's genesis block I believe..
You are exactly talking what I have said a week or two ago in the articles shared below this post. Feel free to read that. Tx
Hello you make good points; but I suggest that we continue the debate. Take Ethereum. Does the Ethereum Foundation care whether we buy Ether? It has already established and need for Ether on the part of those who are running software on their block chain.
I would not expect either Ripple or their banker backers to have any interest in whether we buy XRP; because they do not need us. However, as an investor who wants to diversify across the landscape, I think of holding some XRP in a manner that is similar to the way I think about holding Pepsi-Cola stock. Do I have this all wrong?
Here is something that I think investors should think about with regard to XRP, although I offer this is pure speculation. Once The King has come to the conclusion that certain cryptocurrencies are taking an undue bite out of His Tax Revenues, he’s going to move to choke off the flow of traffic between certain cryptocurrencies and His Fiat Money. I am betting that XRP is not going to be targeted, and moreover it may well become the basis for the widely expected Fedcoin. As I said, that’s pure speculation; but the bottom line is that if you want diversification it might be worthwhile to give XRP a thought!
Comment on your first para: Ether does care. Because Ether is meant for you and not a niche market. Ether platform is for you and me. While Ripple isn't.
Comment on your second para: Agreed. I have written about the investment part in one of my previous articles over a week or two ago. The links are provided in the end of the post. But things have changed and I will explain it in the third para.
Comment on your third para: Absolutely a No for me. Many of the countries are on their toes. They will have to eventually recognize Blockchain tech. Their Banks will/must adopt Blockchain or will either go obsolete or suffer huge losses. In such a scenario, the governments will issue their own currencies. State Banks will adopt those, hence the sub-ordinate Banks. India, UAE, Bahrain has already started this process, some of the Russian Banks are also up for it, GP Morgan is developing their own Blockchain and I assume China, Australia, South Korea, Singapore, Bahrain, Indonesia are the next to come up with announcements. Where does Ripple will stand? I don't know.
Even if none of the above comes true, XRP isn't a profitable venture.
Thanks :)
I take all your points! But I need to emphasize that nothing in my remarks implies the proposition that XRP is profitable. In this game, as you know, betting on what's going to make you a profit down the road is just another gambling bet. Some gamblers hedge their positions, so they will take up something "just in case", not because they expect it to be profitable. I am sure you know that.
Now we are on the same page :) I like the words you used, 'just in case'.
And I have explained that 'just in case', in these two articles.
https://steemit.com/cryptocurrency/@ghayas/does-ripple-have-any-potential-to-grow-in-value-should-i-be-investing-in-it-why-do-so-many-people-hates-it
https://steemit.com/ripple/@ghayas/why-would-banks-want-to-hold-any-position-in-xrp-instead-of-just-purchasing-the-exact-amount-needed-per-transaction-wouldn-t-the
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Ripples intention of XRP was to be able to trade in and out of fiat on their bank to bank transfers. It was never intended as an investment vehicle. That's why there is so much of it. He may have come off as a jerk in his statement but he is actually speaking the truth in respect to XRP and Ripple.
I don't have my notes in front of me but I believe Sia(Siacoin) is another one that the company doesn't care what the coin price is. Sia actually wants to keep it low for usage within their system.
Spot on! I don't blame the Ripple team. They have been very true in what they believe.
I am pissed at the random ABC guys who are flooding and spoofing the internet all over with Ripple 'taking off, going to the moon' stuffs. They are playing with their money without understanding what it is.
They think that since Ripple is after the Banks a.k.a Money guys, it will surely touch the moon. But that's not the case, not even close. The dynamics have changed.
I know right? There's a heck of a lot more talk of any coin going to the moon than one actually making the trip!
Hey, I rethought about your article, and I consider it valuable so I have resteem it. Great job!
Thanks !