XRP
Ripple crypto currency XRP, is now worth about $3.2 with a market cap of more than $120 billion. This was like 20 cents in december of 2017..
Ripple is controlled by a single company based in SFO called ripple. The company created 100 billion ripple coins. There are no miners,its not open source. This is not decentalized either. This is against the whole "crypto decentralized notion"
Circulation
They have 38 billion coins in circulation and management can add 1 billion a month, if they need to. The inflation factor is high!!!!
Technology and Use case
They do have tie ups with several banks in US,Europe and Asia and many are adopting ripple due to its low transaction fees and speed
Ripplnet which is the payment system is faster and this has caught on because bitcoin is expensive in its transaction fees and is slower!!!
Ripple offers a functionality and service that could help it to become a major player in international money transfer. but its fully centralized. Ripple might turn out to be great business that might find its way to stock market.But I am skeptial of XRP as a coin!!!
Your thoughts?
thanks for information on ripple crypto coin.
I won't touch it. Its price is being manipulated right now.
I think the banksters in the US won't want to use them for the same reason we don't want to use them. Because they're centralized, closed source, and can be manipulated easily by a small group of people. I know Bank of America's on board but that's just one US bank and I don't think the other major players will join Ripple to line Ripple's pockets. Chase, Rabobank, Ally, they could just make their own solution to the SWIFT "problem". Ripple sounds like Nipple also..
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